Daily ETF Roundup: GDX Crumbles On Gold’s Fall, XLV Rises On Deal News

American equity markets initially soared Monday on news that Osama bin Laden was killed by U.S. forces in Pakistan, but lost momentum after lunch and finished the day in the red. The Dow finished the day down by three points while the S&P 500 and the Nasdaq posted losses of 0.2% and 0.3%, respectively. Commodity markets also showed some significant weakness on the day as a stronger dollar in much of the session helped to push demand for these products sharply lower. Gold fell by about $12/oz. while oil sank by about $.80/bbl as well. Larger losses were seen in some of the smaller commodity markets as many of the softs, such as corn and cotton, declined by more than 2% in the session However, all of these losses paled in comparison to silver which declined sharply for the day. At one point, the white hot metal, which at one point was [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: EWZ Falls On Intervention Worries, GDX Soars On Fed Comments Daily ETF Roundup: GDX Slides On Gold’s Weakness, XLI Rises On Strong Earnings Daily ETF Roundup: UNG Rises On Weather, GDX Tumbles On Gold’s Fall Do You Need A “Pure” Gold Miners ETF? Daily ETF Roundup: EWJ Continues Slide, GDX Soars On Gold’s Record Price