Saturday, May 7, 2011

Metals & Miners Year to date returns

Here are the year to date returns for the 4 precious metals and 3 mining indexes:

Silver will be represented by SLV, Gold will be represented by GLD.  Even with Silver's massive pull back last week, it is still leading the other precious metals as well as the Gold and Silver mining ETF's.

SLV:  14.25%
GLD:   4.74%
PPLT (Platinum):   .31%
GDXJ (Gold Junior Miners):   -7.59%
GDX (Gold Miners):   -8.75%
SIL (Silver Miners):    -8.81%
PALL (Palladium):     -11.36%

Heading into the summer doldrums where both Gold and Silver are in a trading range. Long term holders can forget about watching the spot price until late August.  Traders should have some opportunities to swing trade the metals as well as selective mining stocks. 

This administration will want the US Dollar to rally so OIL prices drop which will keep gas under $4 a gallon.  We'll see going forward...  In general, Gold trades inverse of the US Dollar so those waiting for a rally may have to wait until September......?  

Look for volatile markets after QE2 ends in June which may bring some opportunities to short the financial markets for those that are out of the miners. SDS is a double short (inverse) of the S&P500 Index which is a top choice amount swing traders.

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