Gold and Silver fell 1.2% and 2.9% respectively yesterday, as renewed US-Iran tensions around the Strait of Hormuz lifted oil prices and revived inflation concerns.
Tracking the underlying commodities, $SPDR Gold ETF(GLD)$ and $iShares Silver Trust(SLV)$ declined by 1.2% and 2.9% respectively.
Amplifying the move, the GLD 5x Short DLC rose about 6%, while the GLD 5x Long DLC fell by a similar magnitude.
Meanwhile, the SLV 3x Short DLC rose 8.8%, while the SLV 3x Long DLC sank a similar magnitude.
Gold is currently hovering near the key US$4,100 support level; A break below could signal further downside, while a move above the US$4,130 resistance zone may improve the near-term outlook.
Silver on the other hand remains under pressure after breaking below its short-term moving averages.
For investors expecting a rebound, GLD and SLV Long DLCs offer leveraged upside exposure. For those positioning for further downside, the Short DLCs provide amplified inverse exposure to falling prices.
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This advertisement has not been reviewed by the Monetary Authority of Singapore. This advertisement is distributed by Société Générale, Singapore Branch. This advertisement does not form part of any offer or invitation to buy or sell any daily leverage certificates (the “DLCs”), and nothing herein should be considered as financial advice or recommendation. The price may rise and fall in value rapidly and holders may lose all of their investment. Any past performance is not indicative of future performance. Investments in DLCs carry significant risks, please see dlc.socgen.com for further information and relevant risks. The DLCs are for specified investment products (SIP) qualified investors only.
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