ETF Ideas: Commodities Climb Continues (JJC, COPX, KOL, JO, BAL, PALL, GLD, SLV, GDX, GDXJ, GAZ, UNG)
With 2010 drawing to a close, it’s not a stretch to say that this has been a good year for commodities. An investor could have picked almost any commodity — except for natural gas — at the start of year and would likely be sitting on a winning position today as a weaker dollar has helped buoy commodities ranging from precious metals to agricultural fare.
Not surprisingly, the Commodity ETFs Index is up 20% in the past six months and is building on that run today with a gain of 0.6%. The good news isn’t contained to just one or two commodities. Positive price action can be seen across a wide range of agricultural, industrial and energy commodities today.
Bolstered by record copper prices and a news of a temporary closure at the world’s third-largest mine, copper ETFs are surging today, led by the iPath Dow Jones-AIG Copper Total Return (JJC), which is up 2%. Copper miners are participating to upside as well with the Global X Copper Miners ETF (COPX) gaining 1%.
Some positive analyst chatter and mergers and acquisitions news is boosting coal stocks today, helping the Market Vectors Coal (KOL) to a gain of 2%. Soft commodities are not being left out in the cold either with the iPath DJ-UBS Coffee TR Sub-Idx (JO) climbing 3%. iPath Dow Jones-UBS Cotton Subindex Total Return ETN (BAL) is building on yesterday’s move to a 52-week high with a gain of 2% today.
While the ETFS Palladium Trust (PALL) is up 1%, other precious metals are lagging as the SPDR Gold Trust (GLD) and the iShares Silver Trust (SLV) are fractionally lower and the Market Vectors Gold Miners ETF (GDX) and the Market Vectors Junior Gold Miners (GDXJ) are barely changed. Natural gas continues its year-long trend of being perhaps the worst performing commodity as the iPath Dow Jones-AIG Natural Gas Total Return (GAZ) and United States Natural Gas Fund, LP (UNG) are both down close to 3% today.
Investors can track the Commodity ETFs Index for performance trends and a suite of other metrics at tickerspy.com.
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