|Bid||36.07 x 1800|
|Ask||36.15 x 1800|
|Day's Range||35.95 - 36.13|
|52 Week Range||31.92 - 41.78|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.13|
|Expense Ratio (net)||0.95%|
While the Federal Reserve might be walking on eggshells with respect to interest rate policy, more investors could be marching towards gold as anticipation of more steady rates or even a rate cut permeate the capital markets. For those emboldened by the Fed's latest move, they could double down on the precious metal with the ProShares Ultra Gold (UGL) . “The U.S. economy is in a good place,” said Fed Chair Jerome Powell.
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.
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).
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.
As we’ve seen so far in this series, gold tends to influence the movements of precious metal miners. In this article, we’ll take a look at the correlations of selected miners with gold. As gold is the most dominant of the precious metals, silver, platinum, and palladium are known to track its movements closely.