Gold, Silver ETFs Top Weekly Returns

June 23, 2014

Janet Yellen’s dovish remarks add to the shine in gold and silver miner ETFs.

Silver and gold miner and explorer-focused ETFs moved higher in the past week, buoyed by Federal Reserve Board Chair Janet Yellen’s reassurance that short-term interest rates will remain at or near ultra-low levels for the foreseeable future.

The PureFunds ISE Junior Silver (Small Cap Miners/Explorers) (SILJ | F-29) led all funds, gaining 18.7 percent, followed by the Global X Silver Miners (SIL | B-77), which was up 11.5 percent. Gold miner ETFs, including the Market Vectors Junior Gold Miners (GDXJ | C-29) and the Market Vectors Gold Miners (GDX | B-63) continued to climb, returning 8.7 percent and 8.6 percent, respectively.

“If you take a look at gold, you’ve got three things driving prices higher,” said Dennis Gartman, commodity investor and publisher of The Gartman Letter, a daily newsletter discussing global capital markets. “One, the dollar has gotten weaker. Two, crude oil prices have gotten stronger because of the circumstances politically in Iraq. And three, Dr. Yellen’s comments [June 18] were indeed semi-dovish.”

On the flip side, India focused ETFs, including the EGShares India Small Cap (SCIN | F-62), were down more than 5 percent as escalating violence in Iraq has resulted in a surge in oil prices as India continues to rank high on the U.S. Energy Information Administration list of global oil importers.

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) 18.65% 201,512 7.55
BARL Morgan Stanley S&P 500 Oil Hedged ETN 14.00% 1,202 18.24
SIL Global X Silver Miners 11.47% 1,330,231 254.77
SLVP iShares MSCI Global Silver Miners 10.75% 56,434 10.09
GDXJ Market Vectors Junior Gold Miners 8.69% 38,517,007 2,309.89
GDX Market Vectors Gold Miners 8.57% 189,482,976 8,011.57
GGGG Global X PURE Gold Miners 8.33% 29,180 4.52
GLDX Global X Gold Explorers 7.58% 295,457 49.13
PSAU PowerShares Global Gold and Precious Metals 7.57% 25,910 25.52
TAN Guggenheim Solar 7.53% 3,579,628 493.58

Bottom 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
CVOL C-Tracks Citi Volatility ETN -16.20% 283,012 6.00
VIXY ProShares VIX Short-Term -10.01% 3,872,022 102.35
VIIX VelocityShares VIX Short Term ETN -9.91% 270,217 6.75
VXX iPath S&P 500 VIX Short-Term Futures ETN -9.89% 144,275,165 923.96
CAFE iPath Pure Beta Coffee ETN -7.04% 26,995 6.45
SCIN EGShares India Small Cap -5.34% 338,684 32.23
INXX EGShares India Infrastructure -5.25% 678,094 57.00
UAE iShares MSCI UAE Capped -5.11% 370,678 59.80
SCIF Market Vectors India Small-Cap -4.95% 1,481,957 403.19
VIIZ VelocityShares VIX Mid Term ETN -4.71% 9,633 1.62

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

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