Precious metals-related exchange-traded funds were among the best performers of the week, as speculators drove up prices on gold and silver following a surprise 50-basis point interest rate cut during Tuesday's
streetTRACKS Gold Shares
ETF finished up 3.3% to $72.30. The
Market Vectors Gold Miners
ETF climbed 7.7% to $45.40. The
iShares Comex Gold Trust
ETF rose 3% to $72.28. The
PowerShares DB Gold
ETF added 3.3% to $28.71.
Basic materials-related ETFs were also strong. Among individual stocks,
jumped more than 4.3%.
Ultra Basic Materials ProShares
ETF rose 11% to $94.73. The
iShares Dow Jones U.S. Basic Materials
ETF added 5.6% to close at $73.42. The
Materials Select Sector SPDR
ETF climbed 5.3% to $41.58.
Oil securities were also climbers, as crude set multiple records during the week.
Ultra Oil & Gas ProShares
ETF rose 9.4% to $114.35. The
iShares Dow Jones U.S. Oil & Gas Exploration Index
added 3.8% to $60.20. The
SPDR S&P Oil & Gas Exploration & Production
ETF finished up 3.5% to $47.76.
On the other hand, Treasury-related ETFs were hit hardest as investors pulled out of bonds and moved money into equities.
SPDR Lehman Long Term Treasury
ETF was off 1.8% to $51.14. The
iShares Lehman 10-20 Year Treasury Bond
ETF lost 1.5% to $100.45. The
SPDR Barclays Capital TIPS
ETF was down 0.6% to $48.82.