This is an ETF, not the commodity itself. If the money you get from a sale is more than you spent to buy it, it is a capital gain. Capital gains are taxed the less than ordinary income if you held the security or commodity for a year or more. If you held it less than a year, the gain would be taxed as ordinary income. Dividends are (generally) treated as ordinary income, but "qualified dividends" receive a more favorable tax rate.