March 15, 2011 at 09:25 AM EDT
Global X Debuts Pure Gold Miners ETF (GGGG), Oil ETF (XOIL)
Global X continued an aggressive expansion of its ETF lineup on Tuesday, announcing the launch of two funds offering exposure to companies engaged in the extraction and production of widely-traded commodities. The Pure Gold Miners ETF (GGGG) will seek to replicate the Solactive Global Pure Gold Miners Index, while the Oil Equities ETF (XOIL) is linked to the Solactive Global Oil Equities Index. GGGG will invest in global companies that generate the vast majority of their business from gold mining. Because the profitability of gold miners depends on the prevailing market price for their products (i.e., gold bullion), these stocks generally move in the same direction as spot gold. Gold miner ETFs have become a popular tool for playing gold prices, in part because they often trade as a leveraged play on spot precious metals prices. Mining stocks can also be appealing to investors who are looking to achieve gold [...] Click here to read the original article on ETFdb.com. Related Posts: Inflation-Fighting ETFs Back In Focus Commodity ETFs Skyrocket As Dollar Slides, Inflation Fears Mount Global X Launches Gold Explorers ETF (GLDX) Playing Precious Metals Through Equity ETFs Three Legendary Investors With Huge Positions In GLD
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