Gold ETFs (UGL) (GLD) (GDX) (GDXJ) Soar

Shares of gold ETFs ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX) and Market Vectors Junior Gold Mine (NYSE:GDXJ) traded higher Wednesday as gold, silver and the majority of other commodity prices were up on the day.

PowerShares DB Gold Double Short ETN (NYSE:DZZ), ProShares UltraShort Gold (NYSE:GLL) and PowerShares DB Gold Short ETN (NYSE:DGZ) all closed down as expected on an up gold day.

June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.

The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.

The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.

ProShares Ultra Gold (UGL) closed Wednesday at $76.66, gaining $0.95, or 1.25 percent. SPDR Gold Trust (GLD) ended the day at $145.60, up $0.86, or 0.59 percent. Market Vectors Gold Miners ETF (GDX) closed at $55.39, rising $0.38, or 0.69 percent. Market Vectors Junior Gold Mine (GDXJ) closed at $35.39, gaining $0.92, or 2.67 percent.

Gold ETFs (UGL) (GLD) (GDX) (GDXJ) (GTU) Trading Down

Shares of gold ETFs ProShares Ultra Gold (NYSE:UGL), SPDR Gold Shares (NYSE:GLD), Market Vectors Gold Miners ETF (NYSEArca:GDX), Market Vectors Junior Gold Mine (NYSEArca:GDXJ) and Central Gold Trust (AMEX:GTU) are under pressure today, as commodities are getting hammered, dragging precious metals down with them.

The most actively traded gold contract, for June delivery, was recently down $14.60, or 1%, at $1,502.30 per troy ounce.

Silver futures prices were down 7.3 percent $35.660 per troy ounce on the Comex division of the New York Mercantile Exchange.

PowerShares DB Gold Double Short ETN (NYSE:DZZ), ProShares UltraShort Gold (NYSE:GLL) and PowerShares DB Gold Short ETN (NYSE:DGZ) were all trading up because of their gold-shorting strategy.

ProShares Ultra Gold (UGL) was trading at $77.48, dropping $1.67, or 2.12 percent, as of 2:31 PM EDT. SPDR Gold Shares (NYSE:GLD) was at $146.29, losing $1.61, or 1.09 percent. Market Vectors Gold Miners ETF (NYSE:GDX) was trading at $54.67, down $2.09, or 3.68 percent. Market Vectors Junior Gold Mine (NYSE:GDXJ) was at $35.53, falling $2.02, or 5.38 percent. Central Gold Trust (AMEX:GTU) was at $56.78, down $0.57, or 0.99 percent.

Gold ETFs (SGOL) (UBG) (GTU) (UGL) After Gold Closes 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 dragging down gold ETFs and ETNs like ETFS Physical Swiss Gold Shares (NYSE:SGOL), UBS E-TRACS CMCI Gold TR ETN (NYSE:UBG), Central Gold Trust (AMEX:GTU) and ProShares Ultra Gold (NYSE:UGL).

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.

ETFS Physical Swiss Gold Shares (SGOL) closed Friday at $148.17, gaining $1.99, or 1.36 percent.

Gold ETFs (UGL) (GLD) (GDX) (GDXJ) (GTU) Crushed as Gold Prices Fall

Gold ETFs ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Market Vectors Junior Gold Miner (NYSE:GDXJ) and Central Gold Trust (AMEX:GTU) got hit hard Thursday as gold and silver prices continued their fall.

One exception was ProShares UltraShort Gold (NYSE:GLL), which ended the trading session up again, closing at $25.29, gaining $1.41, or 5.90 percent. A number of commodity ETF shorts have been soaring during the commodity correction

Gold for May delivery, the front-month contract, ended the trading session Thursday down $34, or 2.2 percent, at $1,480.90 per troy ounce on the Comex division of the New York Mercantile Exchange.

The silver contract for May delivery closed 8 percent lower, down $3.152, at $36.231 per troy ounce.

Since the Friday settlement price silver has plummeted 25 percent.

The U.S. dollar was also up, adding pressure to the two precious metals, as it gained 2 percent against the euro. That came largely from European Central Bank President Jean-Claude Trichet who suggested there will no interest-rate boost in the near future.

Nothing has changed the underlying fundamentals for gold or silver though, and this is just a healthy correction before gold and silver prices begin moving up again.

As long as easy money policies continue by the Federal Reserve and interest rates remain near zero, there is nothing to stop gold and silver prices from continuing to rise.

Inflation, political unrest, sovereign debt crisis and the collapsing U.S. dollar will also play a major role over time for gold and silver prices.

Market Vectors Junior Gold Miner closed Thursday at $35.79, falling $2.15, or 5.67 percent.

Pressure on (UGL) (GLD) (GDX) (GDXJ) (GTU) as Gold Prices Fall

Shares of gold ETFs like ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Market Vectors Junior Gold Mine (NYSE:GDXJ) and Central Gold Trust (AMEX:GTU) were dropped Tuesday as the price of gold fell on the session, with the U.S. dollar gaining a little.

On the other hand ProShares UltraShort Gold (NYSE:GLL) responded in the positive, as expected.

Gold for June delivery fell $16.70 to $1,540.40 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded in a range as high as $1,551.40 and as low as $1,516.20. The spot gold price fell over $15 for the day.

A temporarily stronger U.S. dollar put some pressure on gold and silver prices Tuesday, as the U.S. dollar index climbed 0.04 percent to $73.09.

Also surprising the market was the decision by India to boost their interest rates by 50 basis points to fight inflation. That puts the lending rate their at 8.89 percent, and the overnight lending rate at 7.25 percent.

Silver fell another $3.49 Tuesday to settle at $42.576 per troy ounce on the Comex division of the Nymex.

Most of pressure on silver prices has come from the CME Group decision to raise margin requirements by 11.6 percent, starting at the close of market on Tuesday.

Gold looks like it's just taking a needed breather before resuming its upward run.

Gold stocks have been overall lagging the price of gold, and that should change assuming the costs of inputs remain lower than the push up in gold prices.

A growing number of gold miners are increasing dividends to attract investors.

Market Vectors Junior Gold Miners (GDXJ) closed at $37.92, falling $1.82, or 4.58 percent.

Gold ETFs (UGL) (GLD) (GDX) (GDXJ) (GTU) Down as Gold Closes Level

Shares of ProShares Ultra Gold (NYSE:UGL), iShares Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Market Vectors Junior Gold Mine(NYSE:GDXJ) and Central Gold Trust (AMEX:GTU) trade down as gold closes level.

ProShares UltraShort Gold (NYSE:GLL) which wins when gold is under pressure, closed Monday up.

Silver prices for July lost $2.51 to settle at $46.08 an ounce, after getting crushed 13 percent, as it fell as low as $42.20.

Gold for June delivery jumped 70 cents Monday to settle at $1,557.10 an ounce at the Comex division of the New York Mercantile Exchange. After losing 2.5 percent to drop to $1,540.30, the yellow metal rebounded to $1,577 an ounce.

The U.S. dollar index changed directions after an rally early in the trading session Monday and was down 0.09 percent at $72.96. The U.S. dollar index was fell almost 4 percent in April and is struggling to keep from breaking below its record low of $71.

It is surprising to see gold and silver pressured, as in April gold was up 8.92 percent and silver a whopping 28.72 percent.

One piece of financial information somewhat ignored Monday because of the hoopla surrounding the death of Osama bin Laden, was the manufacturing report concerning China in April which showed production had slowed down during the month. That should help the price of gold and silver going forward.

ProShares Ultra Silver closed Monday at $296.50, falling $62.46, or 17.40 percent.

Central (GTU) (GLL) (UGL) (GLD) (GDX) (GDXJ) Trade Mixed as Gold Price Breaks Records Again

Central Gold Trust (AMEX:GTU), ProShares UltraShort Gold (NYSE:GLL), ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSEArca:GDX) and Market Vectors Junior Gold Mine(NYSEArca:GDXJ) closed mixed Friday as gold price records continue be broken.

Gold futures soared past $1,550 an ounce Friday as investors looked for an alternative to the U.S. dollar, which continues to collapse.

The most-actively traded gold contract, for June delivery climbed $25.20, or 1.6 percent, to settle at a record $1,556.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

It roared past its intraday peak to $1,569.80 in electronic trading after the close. May gold rose $25.20, or 1.6 percent, to end at a nearby record $1,556.00. Measured by percent and the U.S. dollar, it's the largest monthly gains since November 2009.

Most-active July silver jumped $1.058, or 2.2%, to a record settlement of $48.599 a troy ounce, while the May contract rose $1.064, or 2.2 percent, to $48.584, just short of its all-time settlement high of $48.70 hit on January 17, 1980. In April, the May silver contract rallied $10.712, or 28.3 percent, to its biggest monthly U.S. dollar gain in Comex history.

The ICE Futures U.S. Dollar Index was down 0.2 percent on Friday, increasing demand for the dollar-denominated precious metals by making them less expensive for foreign buyers.

Inflation concerns in America, Europe, China and Russia also has contributed to the jump in gold prices.

Other factors affecting gold and silver are the collapsing U.S. dollar, sovereign debt crisis in Europe, unrest in the Middle East and consequences of the Japanese earthquake.

Central Gold (GTU) (GLL) (UGL) (GLD) (GDX) (GDXJ) Close Mixed as Gold, Silver Break Records

ProShares UltraShort Gold (NYSE:GLL), ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSEArca:GDX), Market Vectors Junior Gold Mine(NYSEArca:GDXJ) and Central Gold Trust (AMEX:GTU) closed mixed Thursday even as silver and gold prices broke all-time records. It appears investors are taking some profits off the top.

Gold prices soared while silver prices climbed Thursday as investors bought the metals against a weak dollar and higher inflation expectations.

Gold for June delivery settled $14.10 higher at $1,531.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price soared to a record intra-day level of $1,538.80 an ounce while the spot gold price rose $6.90.

Silver prices for July moved up $1.55 to settle at $47.54 an ounce.

Spot silver jumped almost 4 percent Thursday to an all time high at $49.51 an ounce, surpassing the previous record set in 1980.

The ICE Futures U.S. Dollar Index was down 0.4 percent. The collapsing greenback aided dollar-denominated gold and silver by making them less expensive for foreign buyers, generating more demand.

SPDR Gold Trust (GLD) (UGL) (GDX) (GDXJ) (GTU) Close up as Gold Prices Soar to New Records

ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Market Vectors Junior Gold Mine(NYSE:GDXJ) and Central Gold Trust (AMEX:GTU) closed up Wednesday, as gold posted new records again and silver soared.

Gold prices Wednesday climbed to another record, reaching as high as $1,529.20 on the Comex division of the New York Mercantile Exchange, before ending the session at $1,517.10 an ounce for June at the Comex.

At the close of regular trading on Comex, silver for May delivery jumped 91 cents, or 2 percent, to end at $45.96 an ounce. Gold and silver were pushing higher in after-hours trading.

Some of this was the result of Federal Reserve chairman Ben Bernanke saying he won't be doing anything soon to combat the soaring inflation.

Bernanke likes to use the so-called core inflation numbers, which exclude food and fuel, which are part of the surging increase in inflation, but aren't officially counted. Which is why Bernanke can say core inflation will rise 1.3%-1.6%, below its 2% inflation mandate.

As to economic growth, Bernanke admitted it was slowing down in the U.S. in 2011, somewhere in the range of 3.1%-3.3%.

The non-action by the Fed concerning interest rates is a very bullish factor for gold and silver, and will continue to offer support and impetus to the precious metals.

The euro climbed to $1.4782 from Tuesday's $1.464. The U.S. dollar rose against the yen, up to 82.11 yen from Tuesday's 81.53 yen.

Central Gold Trust closed Wednesday at $58.60, rising $1.20, or 2.09 percent. Market Vectors Junior Gold Mine closed at $41.63, gaining $1.48, or 3.69 percent. Market Vectors Gold Miners ETF ended the day at $61.61, climbing $1.39, or 2.31 percent. SPDR Gold Trust closed at $149.20, jumping $2.82, or 1.93 percent. ProShares Ultra Gold closed at $80.72, gaining $2.98, or 3.83 percent.

Why SPDR (GLD) (AGQ) (UGL) (SLV) Will Remain Strong

Forget about the clueless mainstream media as it pertains to gold and silver and their relationship to the economy and political process, as there is absolutely nothing in the works which will be able to turn around the plunge toward insolvency of the United States, because there isn't the will to make the necessary changes to financially save the country, giving investments like iShares Silver Trust (SLV), SPDR Gold Shares (GLD), Proshares Ultra Silver (AGQ) and Proshares Ultra Gold (UGL) sustainability and viability for some time to come.

Cutting back on the size of the government and its entitlement programs and military expansionism is the only answer, but neither political party (outside a few individual exceptions) are willing to make the tough decisions, and so will continue to drive the country toward bankrupcty in order to keep themselves in political office.

Even socialist Europe understands they must cut spending and implement austeriy measures, while increasingly socialist America refuses to admit even that. Taxes can't be raised because it's impossible to keep up with the growing liabilities associated with out of control spending. In other words, the American people can't support the outrageous debt being forced upon them, and no amount of taxes can either, as only slashing the budget and the size of government can deal with the issue.

So as the Federal Reserve and Ben Bernanke continue to print money and destroy the collapsing U.S. dollar, gold and silver will enjoy unprecedented support as investors seek safe haven from the monstrous government eating away our spending power, capital and freedoms in order to spend its way to political favor at the cost of the nation.

This guarantees over the long term gold and silver will continue to hold and rise, as there's simply nothing to change that outlook, other possibly than a significant rise in interest rates, which the Federal Reserve, at this time, refuses to do.

UltraShort Gold (GLL) (GDXJ) (UGL) (SLV) Close Mixed as Gold, Silver Soar Again

iShares Silver Trust (NYSE:SLV), ProShares UltraShort Gold (NYSE:GLL), ProShares Ultra Gold (NYSE:UGL) and Market Vectors Junior Gold Mine(NYSE:GDXJ) closed mixed Wednesday as silver continues its upward climb and gold to break records on almost a daily basis.

After surpassing the $45 level Wednesday, silver prices ended the day up 54 cents to close at $44.46 an ounce. That was also another 31-year high as it pushes to break $50 and move on to an all-time record. Silver traded between $43.835 and $45.400.

Gold prices roared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery at $1,498.90 an ounce, an increase of $3.80 at the Comex division of the New York Mercantile Exchange.

Wednesday was the fourth session in a row gold prices broke an intraday record, as well as settling at a new record as well.

Gold and silver prices continue to surge on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index fell 0.84% to $74.43 as it continues to struggle after Monday's S&P downgrade of the U.S. economy and warning of a credit downgrade if the U.S. doesn't quit its outrageous spending and reduce its debt.

The downgrade of the outlook of U.S. debt, sovereign debt crisis in Europe, Chinese inflation, soaring oil prices, and the ongoing fallout from the earthquake in Japan are just some of the other factors offer support to gold.

The gold-silver ratio, which measures how many silver ounces are needed to acquire an ounce of gold, fell under 34 — its lowest level since 1983.

Market Vectors Junior Gold Mine closed Wednesday at $41.53, up $0.86, or 2.11 percent. ProShares Ultra Gold closed at $77.86, gaining $0.53, or 0.69 percent. ProShares UltraShort Gold ended the trading day at $24.35, falling $0.18, or 0.73 percent. iShares Silver Trust closed at $44.12, rising $1.12, or 2.61 percent.

Look To (ZSL) (AGQ) (SLV) (GLL) (UGL) (GLD) as Gold, Silver Continue Climb

If you like what you see with gold and silver, as gold hits record prices and silver continues to move toward its all-time high while surpassing 31-year highs almost daily, then you may want to look toward investment vehicles like ProShares UltraShort Silver (NYSE:ZSL), ProShares Ultra Silver (NYSE:AGQ), iShares Silver Trust (NYSE:SLV), ProShares UltraShort Gold (NYSE:GLL), ProShares Ultra Gold (NYSE:UGL) or iShares Gold Trust (NYSE:GLD).

Gold and silver miners on the other hand are more volatile and include a lot of other elements typical of any company, such as management quality, debt, and numerous other factors.

That's not to say you won't make money with miners, as a number of them have been shooting up with the price of the precious metals, albeit usually trailing the movements.

Gold is trading over $1,500 an ounce and silver over $45 an ounce a little after 12:00 PM EDT.