ETFs for both gold and silver continue to trade strong, as they are a great investment for those looking for a new ETF to get involved with.
The world’s largest gold-backed exchange-traded fund, SPDR Gold Trust , said its holdings dropped 1 percent to 1260.2 tonnes Friday from 1272.90 tonnes on Thursday.
Yet today SPDR Gold Trust registered its biggest one-day gain in more than a year, rising 1.8 percent, as investors flocked to seek refuge in bullion of gold and silver because of the continuing economic concerns that are being triggered by a debt downgrade of the United States from a AAA to a AA+credit rating.
Holdings of the world’s largest silver-backed exchange-traded fund, iShares Silver Trust dropped 0.7 percent to 9705.90 tonnes by Friday, from 9772.56 tonnes on Thursday. Again, numbers were up today, as silver is volatile anyway so you can expect to see these price spikes often and not be alarmed.