Gold Plunges 5.6%, Ending Below $1,800
Gold futures ended the regular session down by $104, or 5.6%, at $1,757.30 an ounce for the most-active contract, in the second-biggest dollar decline ever.
ProShares UltraShort Silver (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of silver bullion as measured by the United States dollar fixing price for delivery in London.
The Fund will not directly or physically hold the underlying silver, but instead will seek exposure to silver through the use of financial instruments, whose value is based on the underlying price of silver to pursue their investment objective.
The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery. The Fund’s investment advisor is ProShare Advisors LLC.
PowerShares DB Gold Double Short ETN (NYSE: DZZ)
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