5 ETFs to Watch This Week

It has been a tough year for the gold mining industry. With consistent coyness on the part of Ben Bernanke and the Federal Reserve, the yellow metal has struggled to get off the ground. This, combined with the recent spurt of choppy market action, has caused GDX and the Market Vectors Junior Gold Miners ETF (GDXJ) to flounder. The former has tumbled to levels last seen two years ago.

Gold is not the only precious metal to watch in the days ahead. Investors should also keep an eye on palladium. As I explained last week, the ETFS Physical Palladium Shares (PALL) may be in store for some impressive upside action ahead.

iShares MSCI Spain Index Fund (EWP)

For another week, Spain will be a major player to watch as investors and market commentators attempt to determine what's next in the ongoing European drama. Last week was a tumultuous one for the troubled EU member; in addition to learning that its unemployment rate is hovering around 25%, the country was slapped with a downgrade courtesy of Standard & Poor's.