The Gold SPDR (GLD) and the Silver ETF (SLV) continue to attract money as alternatives to stocks and other commodities. GLD and SLV were down rather sharply in 2015, but both are up year-to-date in 2016. GLD is up over 4% and SLV is up just over 2%. In contrast, the S&P 500 SPDR (SPY) is down over 10% and the Russell 2000 iShares (IWM) is down over 15%. Note that the US Dollar ETF (UUP) is up a fraction year-to-date, as is the Euro ETF (FXE). Even though gold is up, gold stocks are not faring as well because the Gold Miners ETF (GDX) is down around 8% this year. Elsewhere, we are seeing strength in the 20+ YR T-Bond ETF (TLT) and the Yen ETF (FXY) as money moves into relative safe havens.
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