ProShares UltraShort Silver (ZSL) Plunges Again as Silver Rises

ProShares UltraShort Silver (NYSE:ZSL), which has the purpose of providing daily investment results that correspond to twice (200%) the inverse of the daily performance of silver bullion as measured by the U.S. Dollar fixing price for delivery in London, moves counter to the price of silver, and has been extremely volatile lately, as has been the price of silver.

Silver and gold prices went through a reversal Friday, as gold closed down and silver rebounded to close higher, putting pressure on .

Silver prices settled up 21 cents to $35.01 an ounce. Gold for June delivery fell $13.10 to close at $1,493.60 at the Comex division of the New York Mercantile Exchange. The spot gold price was down by about $13 an ounce.

The U.S. dollar index was up 0.74 percent to $75.75 as the euro continued to get hammered on the sovereign debt crises in Europe. The euro plunged 1.7 percent last week as Greece was again in the spotlight for the need to probably be bailed out again, as it appears the country refuses to implement austerity measures to deal with the situation, as it, along with numerous countries, has made progressive, socialists promises they aren't able to keep.

Besides the long-term collapse of the U.S. dollar and the European sovereign debt crises, other factors offering support to gold include tightening in China, inflation, and unrest in the middle east.

ProShares UltraShort Silver (ZSL) closed Friday at $19.70, falling $2.10, or 9.63 percent.