Stocks just recorded their best January in 15 years and they're doing it along with another investment category that usually zags when stocks are zooming: Metals.
The broader industrial metals segment is also ahead double digits. The iPath Dow Jones-UBS Industrial Metals Total Return Sub-Index ETN (NYSEArca: JJM - News), which covers this category, tracks futures contracts on aluminum, nickel, zinc and copper. JJM is ahead 13.03%.
Over in the precious metals market, silver (NYSEArca: SLV - News) has jumped by 21.64% and is easily outperforming gold (NYSEArca: IAU - News), which has gained 11.69% year-to-date. Precious metals seem to be getting a boost from the realization that world governments are spending themselves into bankruptcy.
ETFs that leverage exposure to gold and silver are also ahead strongly.
The ProShares Ultra Silver ETF (NYSEArca: AGQ - News), which offers daily 2x long exposure to silver has skyrocketed by 46%. Meanwhile, the Ultra Gold ETF (NYSEArca: UGL - News), which employs the same daily 2x leverage strategy but with gold, is ahead by 23.66%.
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