Word: etfs
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...ETFs are still a relatively small business--totaling $350 billion compared with some $7 trillion invested in conventional U.S. mutual funds. But ETFs are attracting so much attention that some financial pros believe they're moving markets in certain precious metals, alternative energy, water and other areas. Those pundits suggest that gold ETFs--formed by trusts that hoard the glistening, 400-oz. bars in London vaults--have become reflexive, a term applied by billionaire investor George Soros. Think self-fulfilling prophecy. In this case, it means the new ETFs signaled a shortage of physical gold available, making the metal jump...
...Wiandt, a co-author of the first book about ETFs and publisher of website IndexUniverse.com says, "On its face, the daily volume of gold ETFs represents a drop in the bucket for the world market. But markets are reactionary to news, and there's no question that when the first gold ETF [GLD] came out, the market moved...
...Washington-based trade group, the Silver Institute, believes that Barclays' launch of a new ETF called SLV played a key role in a recent run-up on that shiny metal. "Prior to the offering, Barclays placed 1.5 million ounces of silver with a custodian," reported the organization's Silver News update. "Anticipation of the ETF and other factors pushed silver to a 23-year high in mid-April." Morningstar analyst Sonya Morris explains that the silver market is "tighter" than other commodities and that "there was real concern Barclays' buying some huge stash to support their ETF was going...
GOLD With bullion prices rising to levels not seen since 1983, traditional investors have shown renewed interest in gold. But rather than hoarding bars or investing in mining-company stocks, online traders can buy shares in a new gold exchange-traded fund (ETF) called Streettracks Gold Trust, which mirrors the price of gold. Available on the New York Stock Exchange, ETF shares are easy to buy and sell. A similar ETF for silver has been proposed but not yet introduced...
...ETFs have distinct advantages over open-end stock funds. They tend to be widely diversified, and investors can get a daily view of what's in the fund. The annual management fee is low, and ETFs are tax efficient because the stocks within them seldom change and their unusual structure ensures that holders rarely if ever get socked with a capital-gains distribution. You can even sell an etf short (bet on the price to fall). There are disadvantages, like trading commissions that can quickly erode the benefits of ETFs, which for that reason make no sense for investors...