ETF Shorts (ZSL) (GLL) (DGZ) (DZZ) Trading Down Today

Shares of gold and silver ETFs and ETNs that short the precious metals are down today, including ProShares UltraShort Silver (NYSE:ZSL), ProShares UltraShort Gold (NYSE:GLL), PowerShares DB Gold Short ETN (NYSE:DGZ) and PowerShares DB Gold Double Short ETN (NYSE:DZZ).

The more volatile silver market and price is reflected in the performance of ProShares UltraShort Silver ETF, which was trading down almost 15 percent today, the usual percentage swing - whether positive or negative - the ETF usually takes on any given day, depending on the price movement swings.

Volume for all the ETFs or ETNs listed above are also far above their 3-month daily averages.

PowerShares DB Gold Short ETN (DGZ) was trading at $14.07, down $0.17, or 1.19 percent, as of 2:15 PM EDT. ProShares UltraShort Gold (GLL) was at $23.99, falling $0.67, or 2.72 percent, as of 2:39PM EDT. ProShares UltraShort Silver (ZSL) was trading at $19.68, down $3.43, or 14.84 percent. PowerShares DB Gold Double Short ETN (DZZ) was at $6.80, dropping $0.16, or 2.30 percent.

EFTs not shorting gold and silver were jumping today, as shares of iShares Silver Trust (NYSE:SLV), ProShares Ultra Silver ETF (NYSE:AGQ), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX) and Junior Gold Miners (NYSE:GDXJ) were all trading positive today.

Gold ETFs (DZZ) (DGZ) (GLL) After Gold Trades Up

Gold was able to shake itself of silver Friday, as it has been weighed down by the plummeting price of silver in recent trade, which also has been pushing up gold ETFs or ETNs which short the metal, like PowerShares DB Gold Double Short ETN (NYSE:DZZ), PowerShares DB Gold Short ETN (NYSE:DGZ) and ProShares UltraShort Gold (NYSE:GLL).

Gold for June delivery climbed $10.20, or 0.7 percent, to $1,491.60 an ounce. Gold lost 4.2 percent last week, as it had settled at a record $1,556.40 an ounce the Friday before. Gold fell 4.2 percent on the week.

Silver for July delivery dropped 95.3 cents, or 2.6 percent, to $35.29 an ounce on the Comex division of the New York Mercantile Exchange. It had risen as high as $36.43 an ounce in Friday's trading.

The front-month silver contract had its worst week since late March 1980. Silver for May delivery fell 27 percent in the five-day period — its biggest percent drop since that date. The most-active July contract also was down 27 percent on the week.

Silver has lost 14 percent so far in 2011. On April 25, silver had reached as high as $49.845.

PowerShares DB Gold Double Short ETN (DZZ) closed Friday at $6.96, falling $0.16, or 2.25 percent.

ETFs (TWM) (DZZ) (SMDD) (SMK) (FAZ) Results for Wednesday

ETFs had some strong performers Wednesday, including ProShares UltraShort Russell2000 (TWM), PowerShares DB Gold Double Short ETN (DZZ), ProShares UltraPro Short MidCap400 (SMDD), ProShares UltraShort MSCI Mexico (SMK) and Direxion Daily Financial Bear 3X Shares (FAZ).

ProShares UltraShort Russell2000 (TWM) closed Wednesday at $42.38, jumping $1.09, or 2.64 percent.

PowerShares DB Gold Double Short ETN (DZZ) closed at $6.74, up $0.17, or 2.59 percent.

ProShares UltraPro Short MidCap400 (SMDD) closed at $19.92, climbing $0.50, or 2.57 percent.

ProShares UltraShort MSCI Mexico (SMK) closed at $51.11, gaining $1.28, or 2.57 percent.

Direxion Daily Financial Bear 3X Shares (FAZ) closed at $40.27, rising $0.97, or 2.47 percent.