Courtesy of Market Watch By Andrea Riquier
Exchange-traded funds that track precious metals and miners slumped Tuesday in premarket trade, on track for their biggest daily decline since March, suggesting that a long run-up might be on track to reverse course. The SPDR Gold Shares ETF GLD, 0.94% was down 3.2%, while the VanEck Vectors Gold Miners ETF GDX, 2.11% lost 4.5%. The iShares Silver Trust SLV, 3.13% slid about 6%, and the Global X Silver Miners ETF SIL, 3.98% was down about 5.5%. Both precious metals GC00, 0.13%SI00, -0.17% have surged to record highs over the past several weeks, boosted by declining interest rates and geopolitical concerns.