|Bid||73.91 x 1000|
|Ask||75.99 x 1800|
|Day's Range||73.68 - 74.46|
|52 Week Range||66.65 - 86.21|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||-0.05|
|Expense Ratio (net)||0.95%|
Gold and silver prices fell Thursday as investors switched to the U.S. dollar for safety. Use these inverse ETFs to profit from this theme continuing.
In January, ProShares changed its silver and gold ETFs to track futures-based indexes. This marks the first time leveraged and inverse ETFs will benchmark to gold and silver futures prices. ) are changing their benchmarks from the LBMA (London Bullion Market Association) silver and gold auction prices to Bloomberg Commodity Subindexes.
Gold and gold ETFs enjoyed a bounce late last year as the heightened market volatility pushed investors to safety plays, but a renewed risk-on environment could put the gold rally in jeopardy. The SPDR Gold Shares (NYSEArca: GLD) increased 7.7% over the past three months, with gold futures trading at around $1,289 per ounce, or its highest level since June, while the S&P 500 declined 6.3%. Furthermore, while gold has somewhat benefited from the dovish stance from the Federal Reserve since a lower-for-longer interest rate would weaken the U.S. dollar and support gold prices, the same Fed comments would also bolster stocks and other risky bets for the year.
ProShares, a premier provider of ETFs, announced today that each of the ProShares Ultra Silver and the ProShares UltraShort Silver ETFs (the “Silver Funds”) and the ProShares Ultra Gold and the ProShares UltraShort Gold ETFs (the “Gold Funds) will change their respective benchmarks on or about January 7, 2019. The new benchmark for the Silver Funds (tickers:AGQ and ZSL) will be the Bloomberg Silver Subindex (ticker:ticker::BCOMSI) and the new benchmark for the Gold Funds (tickers: UGL and GLL) will be the Bloomberg Gold Subindex (ticker:ticker::BCOMGC).
Gold recorded the fourth consecutive monthly decline, representing the longest stretch of losses since 2013. Here are the ways to go short on the yellow metal with ETFs.
Many investors might seek to buy gold at a discounted price while some risk aggressive investors want to short gold for the near term via ETFs.
Precious metals commodity-related exchange traded funds plunged Friday, with gold prices falling to their lowest level since last year, as traders switched to cash in response to the escalating trade tensions between the U.S. and China. On Friday, the SPDR Gold Shares (NYSEArca: GLD) fell 1.9% and the iShares Silver Trust (NYSEArca: SLV) declined 3.9%. The broad selling follows news that President Donald Trump approved tariffs on $50 billion in Chinese goods, fueling concerns that the intensifying trade spate between Washington D.C. and Beijing will cripple the economy and slow global growth, the Wall Street Journal Reports.