Thursday, April 7, 2011

Copper ETN (JJC) Up as (GLD)(SLV) Take a Break

After a record run up, shares of the SPDR Gold Trust (NYSEArca:GLD) and iShares Silver Trust (NYSEArca:SLV) taking a rest today, while iPath Copper ETN (NYSEArca:JJC) has its turn in the sun.

Mining ETFs in the sector are also under some pressure in the trading session. The Market Vectors Gold Miners ETF (NYSEArca:GDX) is down 0.3% and the Global X Silver Miners ETF (NYSEArca:SIL) were down or flat on the day.

The anticipated decision by Europe to raise interest rates hasn't had too impact on the commodity sector, as expectations are that will continue on at a very slow pace going forward, with that probably being done once a year, assuming past assertions are the practice.

In America, it's unlikely we'll see an interest rate boost any time soon.

Global X Silver Miners ETF was trading at $30.06, as of 12:51 PM EDT. Market Vectors Gold Miners ETF was at $62.60, falling $0.17, or 0.27 percent. iShares Silver Trust was trading at $38.61, down $0.01, or 0.03 percent. SPDR Gold Trust was at $142.05, down $0.33, or 0.23 percent. iPath Dow Jones UBS Copper was trading at $58.56, gaining $0.60, or 1.04 percent.

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