NEW YORK (
) -- Gold and oil ETFs were in favor on Tuesday as gold prices surged to a new high and crude oil spiked on the back of a weak dollar.
Gold prices rose past $1300 and were climbing to $1307.70 an ounce, feeding the gold investing frenzy.
Market Vectors Gold Junior Miners ETF
Market Vectors Gold Miners
were up 1.3% and 1.1% respectively. The largest gold ETF
SPDR Gold Trust
was gaining 0.7%.
United States Oil ETF
was gaining 1% as crude oil futures headed to $76.80 a barrel. Buying also picked up in ETFs investing in oil stocks such as the
Oil Services HOLDRS
, higher by 0.8% ,
SPDR Oil and Gas Equipment Services
, up 0.6%, and the
SPDR Energy Sector ETF
, up 0.4%.
Other notable ETFs in the gainers list included semiconductor ETFs
iShares North America Tech Semiconductors
, up 1.2% and
PowerShares Global Biotech ETF
-- Written by Shanthi Venkataraman in New York
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