As gold rebounded 3.4% to about $880 from last week's low around $853 per ounce, even the worst-performing funds focused on the precious-metals markets made money for their shareholders.
The average precious-metals fund we track gained 7.21% for the five trading days ending Thursday, May 8. Meanwhile, the benchmark Philadelphia Gold & Silver Index moved up 9.54%.
The best-performing funds in this sector are the mining shares that tend to move up or down two to three times as much as the underlying metal. The companies are benefiting from the double whammy of a potential turning point in the price of gold and optimistic earnings reports.
The reports reminded investors that even at current prices, the comparatively lower cash cost for most miners to produce gold allows them to be profitable. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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Oil *
77.12
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DOWN
154.48
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19.14
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37.61
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10 Yr
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SPDR Gold
115.06
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-1.48%
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-1.73%
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