Gold, silver, & palladium sink, and these ETFs are falling alongside

Gold, silver, & palladium sink, and these ETFs are falling alongside

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Precious metals like gold (XAUUSD:CUR), silver (XAGUSD:CUR), and palladium (XPDUSD:CUR) have dropped to start the trading week and following the downward momentum are ETFs that provide access to the commodities through spot funds that hold the physical metals.

Gold: The yellow metal has dropped 1.7% at the start of Monday’s trading session and is heading towards its 100-day moving average mark. Moreover, gold is also now down 5% from its recent Apr. 18 peak.

Three funds that have sunk alongside the price of gold are the SPDR Gold Trust ETF (NYSEARCA:GLD) -1.6%, iShares Gold Trust ETF (NYSEARCA:IAU) -1.6%, and the Aberdeen Standard Physical Gold Shares ETF (SGOL) -1.7%.

GLD leads all three with more than $63B AUM, but SGOL offers a cheaper avenue, as the fund has a 0.17% expense ratio compared to IAU’s 0.25% and GLD’s 0.40%.

Silver: Silver finds itself trading down 2.1% and the precious metal has also closed lower in its last four sessions with today looking to make it five. Silver is also off 9.8% since its recent Apr. 18 peak.

As silver falls so in turn has the Silver Trust iShares (NYSEARCA:SLV) -2.2%, which is the market’s primary pure-play silver spot fund as it is the largest ETF from an AUM standpoint with $13.96B under its belt.

Aside from SLV, two other spot silver funds have also dropped, the Aberdeen Standard Physical Silver Shares (SIVR) -2.1% and the Sprott Physical Silver Trust (PSLV) -2.4%.

Palladium: Palladium has experienced the sharpest sell off as it is down 10.1% on the day and off 16.6% from its recent Apr. 11 high.

The Aberdeen Standard Physical Palladium Shares ETF (NYSEARCA:PALL) -9.6% is the markets leading ETF in the space with $482M AUM, and a 0.60% expense ratio.

Not only are precious metal funds selling off, but benchmark ETFs that track the three major U.S. equity indices have also fallen to fresh one-month trading lows amid a spike in volatility levels.

Originally Posted on: https://seekingalpha.com/news/3826189-gold-silver-palladium-sink-and-these-etfs-are-falling-alongside?source=feed_tag_commodities
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