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UNG jumped as severe winter storms cut nearly 10% of U.S. gas output.
PLTM rose as platinum prices soared on tight supply, strong investment demand and trade tensions.
Palladium ETF PALL climbed on supply fears and strong inflows despite weak auto demand.
Wall Street was downbeat last week amid geopolitical uncertainty. The S&P 500 lost 0.4%, the Dow Jones retreated 0.5%, and the Nasdaq Composite fell 0.1%. U.S. President Donald Trump threatened a new wave of protectionist measures against European allies.
The tension centered on the “Greenland row,” with the U.S. administration threatening across-the-board duties of 10% to 25% on eight European nations, while some reports flagged potential tariffs of up to 200% on French exports (read: European ETFs in Spotlight Following Trump's Tariff Retreat at Davos).
Gold bullion ETF SPDR Gold Trust (GLD - Free Report) surged 8.4% last week on increased safe-haven demand for the yellow metal. Against this backdrop, we highlight the winning exchange-traded funds (ETFs) of the week.
ETFs in Focus
Natural Gas
United States Natural Gas Fund LP (UNG - Free Report) – Up 35.2%
U.S. natural gas futures skyrocketed amid severe winter weather. Futures surged as a historic winter storm tore across the United States, choking supply and boosting heating demand. The severe weather shut down almost 10% of U.S. gas output, as mentioned by Trading Economics.
Platinum
GraniteShares Platinum Trust (PLTM - Free Report) – Up 20.8%
Platinum futures extended a record rally as strong investment demand and a tight physical market pushed prices higher. Expectations of lower U.S. interest rates, dollar weakness, and ongoing geopolitical and trade tensions have further supported demand for the precious metal.
Silver prices surged as strong safe-haven and investment demand met prolonged tightness in the physical market, boosting retail buying in China and India. Heightened geopolitical risks, along with expectations of U.S. rate cuts under a potentially more dovish Fed, have further fueled inflows into the metal.
The same safe-haven fundamentals worked for gold prices too. Gold extended its record rally last week. Since mining stocks often act as leveraged plays on the underlying metal, gold mining ETF GOEX rose sharply.
Palladium futures climbed to the highest level in over three years (per Trading Economics), as supply concerns intensified amid geopolitical risks and fears of disruptions to North American metal flows tied to potential Canada–China trade tensions. Strong investment inflows and increased trading activity in China have helped palladium gain solidly, despite softer automotive demand, as mentioned by Trading Economics.
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Best-Performing ETFs of Last Week: Commodity Wins
Key Takeaways
Wall Street was downbeat last week amid geopolitical uncertainty. The S&P 500 lost 0.4%, the Dow Jones retreated 0.5%, and the Nasdaq Composite fell 0.1%. U.S. President Donald Trump threatened a new wave of protectionist measures against European allies.
The tension centered on the “Greenland row,” with the U.S. administration threatening across-the-board duties of 10% to 25% on eight European nations, while some reports flagged potential tariffs of up to 200% on French exports (read: European ETFs in Spotlight Following Trump's Tariff Retreat at Davos).
Gold bullion ETF SPDR Gold Trust (GLD - Free Report) surged 8.4% last week on increased safe-haven demand for the yellow metal. Against this backdrop, we highlight the winning exchange-traded funds (ETFs) of the week.
ETFs in Focus
Natural Gas
United States Natural Gas Fund LP (UNG - Free Report) – Up 35.2%
U.S. natural gas futures skyrocketed amid severe winter weather. Futures surged as a historic winter storm tore across the United States, choking supply and boosting heating demand. The severe weather shut down almost 10% of U.S. gas output, as mentioned by Trading Economics.
Platinum
GraniteShares Platinum Trust (PLTM - Free Report) – Up 20.8%
Platinum futures extended a record rally as strong investment demand and a tight physical market pushed prices higher. Expectations of lower U.S. interest rates, dollar weakness, and ongoing geopolitical and trade tensions have further supported demand for the precious metal.
Silver
Sprott Silver Miners & Physical Silver ETF (SLVR - Free Report) – Up 17.0%
Silver prices surged as strong safe-haven and investment demand met prolonged tightness in the physical market, boosting retail buying in China and India. Heightened geopolitical risks, along with expectations of U.S. rate cuts under a potentially more dovish Fed, have further fueled inflows into the metal.
Gold Miners
Global X Gold Explorers ETF (GOEX - Free Report) – Up 14.1%
The same safe-haven fundamentals worked for gold prices too. Gold extended its record rally last week. Since mining stocks often act as leveraged plays on the underlying metal, gold mining ETF GOEX rose sharply.
Palladium
abrdn Physical Palladium Shares ETF (PALL - Free Report) – Up 13.3%
Palladium futures climbed to the highest level in over three years (per Trading Economics), as supply concerns intensified amid geopolitical risks and fears of disruptions to North American metal flows tied to potential Canada–China trade tensions. Strong investment inflows and increased trading activity in China have helped palladium gain solidly, despite softer automotive demand, as mentioned by Trading Economics.