Investors rejoiced as Tuesday turned out to be a massive day for most asset classes. The Dow racked up an impressive 340 point gain while the S&P jumped by nearly 3%. 10 year bond prices saw a stellar jump of nearly 6.2% on euro hopes as well as better than expected housing starts, bringing markets a big winning day after a disappointing string of trading sessions. Gold is another asset that was able to snap its losing streak on the day, as it jumped a healthy 1.3% on the day. Its gains were likely propelled by a positive day for the euro, which has weighed on the precious metal for the past few weeks. Despite today’s big win, gold is still only at $1,617/oz., a potential value buy for those looking to get in while this hot commodity is still cheap [see also Three Reasons Why Gold Is Overvalued]. Of [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: VXX Soars On Shaky Markets, XHB Flails On Housing Outlook Daily ETF Roundup: VXX Plunges On Debt Ceiling Hopes, XHB Jumps On Housing Starts Number Daily ETF Roundup: VXX Sinks On Market Optimism, XHB Surges On Pulte Report Tuesday’s ETF Chart To Watch: SPDR Homebuilders ETF (XHB) ETF Insider: Will Holiday Cheer Be Enough?
Investors rejoiced as Tuesday turned out to be a massive day for most asset classes. The Dow racked up an impressive 340 point gain while the S&P jumped by nearly 3%. 10 year bond prices saw a stellar jump of nearly 6.2% on euro hopes as well as better than expected housing starts, bringing markets a big winning day after a disappointing string of trading sessions. Gold is another asset that was able to snap its losing streak on the day, as it jumped a healthy 1.3% on the day. Its gains were likely propelled by a positive day for the euro, which has weighed on the precious metal for the past few weeks. Despite today’s big win, gold is still only at $1,617/oz., a potential value buy for those looking to get in while this hot commodity is still cheap [see also Three Reasons Why Gold Is Overvalued]. Of [...]
Click here to read the original article on ETFdb.com.
Related Posts:
