Exchange Traded Funds: Are They Worth Their Weight In Gold?
Gold-MiningStocks.com - Endeavour Silver Corp., Newmont Mining Corp., and Canarc Resource Corp. Shed Light On the Impact of ETFs
/24-7PressRelease/ - POINT ROBERTS, WA, Delta B.C. - May 05, 2006 - http://www.Gold-MiningStocks.com (GMS), an investor and industry portal for the gold and mining sector, is pleased to present, "Exchange Traded Funds: Are They Worth Their Weight In Gold?" As silver's ETF made its way across trading floors at the American Stock Exchange last week, investors might wonder whether or not this is going to have real impact on the price of silver over the upcoming period. Endeavour Silver Corp., Newmont Mining Corp., Canarc Resource Corp. and Jon Nadler Investment Products Analyst for Kitco Bullion Dealers, offer their take on how the ETFs help to position the commodities in today's market.
Hugh Clarke, Director of Investor Relations at Endeavour Silver Corp. (TSX:EDR; OTC.PK: EDRGF) says, "as we've talked about for years, silver does follow the gold price. But once silver starts to be affected by its own dynamic and fundamentals, where the supply and demand or an ETF comes in, it starts to take on a life of its own."
Seth Foreman, Senior Analyst for Investor Relations at Newmont Mining Corp. (NYSE: NEM) lent comment that, "Exchange traded funds have grown to play a very large role in the gold industry and as more ETFs are launched in various commodities, their roles will continue to grow. The various gold ETFs around the world have grown to hold more than 16 million ounces of gold, approximately $10 billion in value."
Gregg Wilson, Manager of Investor Relations at Canarc Resource Corp. (OTCBB: CRCUF) believes that, "the success of the gold ETF very clearly demonstrates gold's strong investment value. In fact, the gold ETF has exceeded forecasts of its popularity. The oil price has been a driver in the strong gold market but is certainly not the only one."
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For more information contact:
Dawn Van Zant 800.665.0411
Jennifer Lee 888.348.3033
Email: dvanzant@investorideas.com, or jlee@investorideas.com
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Source: Gold-MiningStocks.com, Canarc Resource Corp., Endeavour Silver Corp and Newmont Mining Corp.
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