Industry News

Gold ETF trends probed

A recent report from ETF Trends reveals that gold exchange traded funds climbed roughly 1 percent on June 12 due in part to fears overseas that the debt situation in Europe would worsen.

Also, the Spanish 10-year bond yields rose to a euro-era high, helping added to the increase in demand for gold ETFs.

Fitch reduced its credit ratings in Europe on 18 Spanish banks, the news source stated, and the nation's 10-year bond yields climbed to more than 6.8 percent, which is the highest level it has been at since the euro was introduced in 1999.

“We’re in uncharted territory,” Nick Stamenkovic, market strategist at RIA Capital Markets, told CNNMoney.

In the United States, gold futures rose higher on June 13, according to a report from MarketWatch. This marked the fourth session of ascension, which was attributed in part due to traders gauging expectations that the U.S. Federal Reserve would add further economic stimulus along with other central banks. Gold exploration never rests, as production remains high in Alaska, British Columbia and the Sonora state of Mexico, where copper is also produced.