New Inverse Gold ETNs
Friday, February 29, 2008 at 10:04AM Deutsche Bank listed three new Gold ETNs yesterday that allow investors to get the inverse return of the commodity, double the inverse return of the commodity, and double the return of the commodity. Much like the inverse ETFs offered by ProShares, investors can now bet against Gold by going long the ETNs, making it possible for non-margin accounts like IRAs to take a short position on the commodity. The tickers for the inverse ETN and double inverse ETN are DGZ and DZZ respectively. The chart below highlights the price of Gold over the past year. As shown, the commodity is currently trading well into overbought territory, and rest assured that the price will decline at some point in the future -- it's just a matter of when. But if you think it's going to keep going up for now, DGP allows you to get double the returns on the upside.
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