Tuesday's ETF Winners & Losers

Funds tracking precious metals were among the top performers Tuesday.
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Exchange-traded funds tracking precious metals were among the best performers of Tuesday's session, as speculators drove up gold and silver prices on expectations of an interest rate cut at the

Federal Reserve

meeting next week.

The Fed is set to meet next Tuesday. Recently, gold futures were surging by $9.50 to $721.70 an ounce. Silver was also on the rise, climbing 20 cents to $12.90 an ounce. Copper and platinum were also trading up.

The

PowerShares DB Base Metals

(DBB) - Get Report

was adding 69 cents, or 2.9%, to $24.89. The

Market Vectors Steel

(SLX) - Get Report

ETF gained $1.66, or 2.5%, to $67.80. The

Market Vectors Gold Miners

(GDX) - Get Report

was up $1.05, or 2.6%, to $41.99. The

SPDR S&P Metals & Mining

(XME) - Get Report

rose 94 cents, or 1.7%, to $57.75.

Bundled securities tracking the biotech sector were also higher, thanks to a surge in

ImClone

(IMCL)

. Clinical trial data showed that the company's Erbitux drug helped lung cancer patients live longer. ImClone's development partner

Bristol-Myers Squibb

(BMY) - Get Report

was also trading stronger.

The

First Trust Amex Biotechnology Index

(FBT) - Get Report

was adding 56 cents, or 2.3%, to $25.14. The

iShares Nasdaq Biotechnology

(IBB) - Get Report

was up $1.15, or 1.4%, to $81.19. The

SPDR S&P Biotech

(XBI) - Get Report

was higher by 64 cents, or 1.1%, at $57.06.

The

Internet HOLDRs

(HHH)

was also gaining ground. Holding

eBay

(EBAY) - Get Report

jumped 3.2% after JPMorgan said the Internet auction site's new listings rose 6.1% year-over-year.

On the other hand, oil-related ETFs were declining following OPEC's decision to boost its production quota by 500,000 barrels a day to soothe volatile oil markets.

The

iPath S&P GSCI Crude Oil

(OIL) - Get Report

fell 55 cents, or 1.3%, to $43.05. The

United States Oil

(USO) - Get Report

ETF was down 67 cents, or 1.1%, to $58.12. The

Oil Service HOLDRs

(OIH) - Get Report

was losing $2.11, or 1.1%, to $179.80.