Technical Weakness Continues for Gold and Metals Miners

Kevin Grewal submits: As economic uncertainty continues to prevail around the world and political instability takes its toll in North Africa and the Middle East, the appeal for gold and other precious metals is expected to continue to remain elevated, pushing up prices.

ETF Database submits: Despite a relatively solid earnings season, anxiety continues to run high on Wall Street as elevated unemployment and sagging confidence stand as major obstacles to a continued economic recovery. As equity markets trend sideways and potential pitfalls materialize, many investors have moved slowly towards safe havens, preferring to watch from the sidelines until the storm clouds clear.

By CommodityHQ: By Jared Cummans

Kevin Grewal submits: As the Federal Reserve continues to maintain its short-term nominal interest rate target near or at zero and political and social unrest continue to spread in North Africa and the Middle East, the appeal for gold and other precious metals is expected to continue to remain elevated, pushing up prices.

Ron Rowland submits:I previously wrote an article entitled PHYS: Now You Can Store Your Gold in Canada. After discussions with Michael Traynor of the National Stock Exchange, I agree with their conclusion that PHYS is not an ETF.

Daryl Montgomery submits: Gold as measured by the ETF GLD fell 3.2% in New York trading on Tuesday. Its chart looks very similar to December 2009 when it experienced an intermediate peak.

Michael Johnston submits:Perhaps no corner of the ETF market has exploded as rapidly as the precious metals space, as the democratization of an asset class previously off limits to many investors has resulted in billions of dollars in cash inflows. The SPDR Gold Trust (GLD) is now the second-largest ETF by total assets, with more than $53 billion under management.