Crude Prices Firm, But Gold Plunges

Today, several commodities are plunging in price, but particularly gold. Yesterday, gold reached a new all-time high price of $995.30/oz on the April. Gold fell nearly $30/oz. on Tuesday, after setting another all-time high price. This is a sign that bullish momentum is burning itself out.

This also appears to signal an end to the strong commodity prices surge since the first of this year. However, energy prices appear to be holding fairly firm. They are the only commodities that I am maintaining my positions on the daily charts. This seems a little surprising given that the US Dollar continues to explore lower price levels.

Deutsche Bank -- New Gold ETNs

This may spell perfect timing for Deutsche Bank. They just rolled out three new ETNs last week. Two of them are designed to short gold (one short, the other ultra short), and the third one is designed to benefit from being long (ultra long) in gold. Even the long ETN is somewhat unique and offers significant advantages to existing gold ETFs. I won't repeat here what I wrote about in my other blog. Here is the write-up on my ETF blog:

3 New, Unique Gold ETNs