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Precious Metals ETF Shining

DBP is in a powerful advance with renewed volume


PowerShares DB Precious Metals ETF (NYSE: DBP) — This exchange-traded fund (ETF) seeks to track the price and yield performance, before fees and expenses, of the Deutsche Bank Liquid Commodity Index – Optimum Yield Precious Metals Excess Return. This is a rules-based index composed of futures contracts on gold and silver.

Like the precious metals and the index it is intended to reflect, DBP has been in a powerful advance.

On Sept. 23, 2008, at $32 a share, I said, “Since the fund only began trading last year [2007], there is limited data on it, but if gold and silver continue to rise, then this ETF should rise along with it.”

It is now at close to $48 and the chart looks even more powerful with a new stochastic signal and renewed volume on the buy side. The trading target is $52, but DBP could reach $65 within 12 months.

Trade of the Day - DBP Chart

Trade of the Day Chart Key

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