TheStreet.com Ratings provides exclusive stock, ETF and mutual fund ratings and commentary based on award-winning, proprietary tools. Its "safety first" approach to investing aims to reduce risk while seeking solid outperformance on a total return basis.
NEW YORK (TheStreet) -- Investors' fears of another stock decline are stoking gold fever. The spot price of gold broke hit $997.80 an ounce on Thursday, the highest level since February.
Gold has risen 4.6% in the past week. Silver added $1.81 to $16.12 for a one-week surge of 13%. For the week ending Thursday, the average precious metals fund we track popped 7.6%.
The best-performing precious metals fund this week is the ProShares Ultra Silver (AGQ), which tracks the U.S. price of silver in London with 200% leverage. This exchange traded fund skyrocketed 27%.The Precious Metals UltraSector ProFund (PMPIX), a mutual fund, was the No. 2 fund with a 16% gain. The fund tracks the Dow Jones Precious Metals Index with 150% leverage. It benefited from large holdings of Barrick Gold (ABX), Goldcorp (GG), Freeport-McMoRan Copper & Gold (FCX) and Newmont Mining (NEM). If you prefer unleveraged funds, take a look at the Market Vectors Gold Miners ETF (GDX), which tracks the Amex Gold Miners Index. The index's top performers of the past week included Vista Gold (VGZ), up 31%; IAMGOLD (IAG), up 22%; Golden Star Resources (GSS), up 21%; and Northgate Minerals (NXG) up 19%.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV