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ETFs Tank: A Blow to Retail Precious Metal Investors
31 Jan
Summary
- SPDR Gold Shares saw its largest daily drop since inception.
- The biggest silver ETF had its worst decline since creation.
- Both ETFs remain above their year-to-beginning prices.
Exchange-traded funds (ETFs) that track precious metals experienced a substantial decline on Friday, marking a significant day for retail investors. The SPDR Gold Shares, a prominent gold ETF, recorded its largest daily fall since its inception in November 2004, plummeting by 10%.
In parallel, the iShares Silver Trust, the leading silver ETF, endured its most severe daily drop since its launch in April 2006, with a notable 29% decrease. Despite this sharp downturn, a positive note for investors is that both gold and silver ETFs are still trading at prices higher than they were at the beginning of the year.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
