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Exchange-traded funds tracking gold reaped rich gains this week as the dollar weakened even further against the euro and the yen.
During a week in which gold futures went past the $1,000 mark for the first time ever, the Market Vectors Gold Miners ETF (GDX Quote) jumped 5.2%, and the iShares COMEX Gold Trust (IAU Quote) fund added 3.1%. streetTRACKS Gold Shares (GLD Quote) rose 3.4%.
ETFs tracking Treasury bonds likewise benefited from traders' fears as more evidence piled up that the economy is unraveling. In addition to the softening greenback was a blow from Bear Stearns (BSC Quote), which revealed that it has severe liquidity problems, prompting many to wonder what further woes may emerge from financials. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,388.90 | 1,105.98 | 2,194.35 | 34.83 |
Oil *
77.74
|
|
UP
22.75
|
UP
6.06
|
UP
21.21
|
UP
1.03
|
10 Yr
3.48%
SPDR Gold
113.75
|
|
+0.22%
|
+0.55%
|
+0.98%
|
+3.05%
|
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