Don't Ignore This Chart!

Gold Surges as Market Swoons, but Miners remain Weak

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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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--Arthur Hill CMT

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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