As more investors are turning away from precious metals, spread ETFs are fast gaining in Canada, Market Watch reports. Spread ETFs allow hedging of silver and gold against each other in a single trade.

Toronto-based Horizons Exchange Traded Funds recently rolled out the first gold/silver spread ETFs in the world. The ETFs help investors profit from the relative price changes between the two commodities by investing in a long position on one commodity and a short position on the other. The firm is also eying other commodities that are attracting interest in the market, including copper, which can be paired with gold too, said Howard Atkinson, CEO of Horizons Exchange Traded Funds.

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