The price of gold hit a low of around $1,200 in July 2013. It then moved up to $1,400 in two months. The price subsequently moved back down and is now close to $1,320.
Silver fell to $18.50 U.S. an ounce in June 2013. It rebounded to $24 in August but is down again at $21.42 an ounce.
If you want to hold a number of gold or silver stocks, you may consider exchange traded funds.
Here are two precious metals ETFs we cover regularly in Canadian Wealth Advisor.
ISHARES S&P/TSX GLOBAL GOLD INDEX FUND (Toronto symbol XGD; ca.ishares.com) aims to mirror the performance of the S&P/TSX Global Gold Index.
This index is made up of 37 gold stocks from Canada and around the world. The iShares S&P/TSX Global Gold Index Fund’s MER is 0.60%. It began trading on March 23, 2001.
The fund’s top holdings are Barrick Gold at 17.9%; Goldcorp, 16.1%; Newmont Mining, 8.6%; Franco Nevada, 5.7%; Yamana Gold, 5.6%; Randgold Resources (ADR), 5.1%; AngloGold Ashanti (ADR), 4.7%; Agnico-Eagle Mines, 4.3%; Kinross, 4.2%; Eldorado Gold, 3.6%; Royal Gold, 2.9%; New Gold, 2.3%, Gold Fields (ADR), 2.1% and Osisko Mining, 2.1%.
Canadian companies make up almost half of Silver Miners ETF
GLOBAL X SILVER MINERS ETF (New York symbol SIL; www.globalxfunds.com) tracks the Solactive Global Silver Miners Index.
This index includes 30 international companies that mine, refine or explore for silver. Germany-based Structured Solutions AG developed the Global X Silver Miners Index.
Canadian companies make up 48.9% of the fund’s holdings, but it also includes miners in the U.S. (13.2%) and Mexico (12.0%). Its MER is 0.65%.
The ETF’s top holdings are Silver Wheaton at 12.0%; Fresnillo plc, 10.5%; Industrias Penoles, 10.4%; Pan American Silver, 6.1%; AuRico Gold, 5.5%; Polymetal, 5.2%; Tahoe Resources, 5.0%; Hecla Mining, 4.7%; Silver Standard Resources, 4.7%; Coeur d’Alene Mines, 4.2%; and First Majestic Silver, 3.9%.
In the latest issue of Canadian Wealth Advisor, we consider both the longer-term outlook for gold and silver prices as well as their likely trading range in the next few months. We conclude with our clear buy-hold-sell advice on both of these exchange-traded funds.
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