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By Market News Video Staff, Friday, November 12, 2:28 PM ET
The threat of interest rates hikes in China and concerns over Ireland’s potential need for a bailout from its debt are dampening oil and gold trading today.
Gold is lower by 3.1%, and the SPDR Gold Shares (AMEX:GLD) trades down 3.25%, while the iShares Gold Trust (AMEX:IAU) trades down 3.12%.
The Gold Miners ETF (AMEX:GDX) is trading down 3%, on the backs of top holdings Barrick Gold (NYSE:ABX), at 16.45% of the fund, Goldcorp (NYSE:GG), with 11.24% of the fund, and Newmont Mining (NEM), with 9.91% of the fund.
Crude oil is lower by 3.25%. Going with it is the Energy Select Sector SPDR (XLE), trading down 2.2%, led downward by top stock Exxon Mobil (XOM), which is 18.28% of the portfolio, followed by Chevron (CVX), at 13.12%, and Schlumberger (SLB), at 7.94% of the fund.
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