Silver Jumps 3%; Gold Moves Above Key 200-Day Moving Average

By Devon Layne – Thu, Jan 12, 2012 12:08 AM SGT

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RELATED QUOTES

SymbolPriceChange
FXE132.730.20
SLV20.88-0.22
UUP21.860.02
GLD132.13-1.64

Gold and silver advanced sharply on Tuesday, as the dollar weakened against the euro, according to an article on Barron’s .

The iShares Silver Trust (NYSEArca:SLV - News) and the SPDR Gold Shares (NYSEArca:GLD - News) physical bullion ETFs rose 3.8 percent and 1.5 percent, respectively, leading to a boost in shares of precious miners ETFs as well, the article said.

In addition, gold rose above its 200-day moving average reaching $1,635.50 a troy ounce.

Meanwhile, the PowerShares U.S. Dollar Bullish Fund (NYSEArca:UUP - News) fell 0.2 percent, while the CurrencyShares Euro ETF (NYSEArca:FXE - News) rose by .02 percent, perhaps because of the possibility of an agreement on tighter fiscal union in the eurozone, the report said.

Visit Barrons.com for the full story.

 

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