After a rough 2011, which followed a record-breaking 2010, John Paulson changed his positions in gold-related stocks SPDR Gold Trust ETF (NYSE:GLD), Randgold Resources (NASDAQ:GOLD), Iamgold (NYSE:IAG) and Barrick Gold (NYSE:ABX).
SPDR Gold Trust ETF (GLD), which continues to remain his largest holding, was lowered by Paulson by close to 3 million shares, now owning 17.3 million shares in the gold ETF. As of December 31, SPDR Gold Trust shares held by Paulson had a market value $2.6 billion.
Randgold Resources (GOLD), Iamgold (IAG) and Barrick Gold (ABX) were among the 10 positions Paulson increased his holdings in, a nod towards the continued belief that some gold miners are still undervalued when measured against the price of gold.
Other gold holdings of Paulson include NovaGold (AMEX:NG), Gold Fields (NYSE:GFI) and AngloGold Ashanti (NYSE:AU).
Showing posts with label SPDR Gold Trust. Show all posts
Showing posts with label SPDR Gold Trust. Show all posts
Wednesday, February 15, 2012
Thursday, May 19, 2011
Gold ETFs (UGL) (GLD) (GDX) (GDXJ) Soar
Shares of gold ETFs ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX) and Market Vectors Junior Gold Mine (NYSE:GDXJ) traded higher Wednesday as gold, silver and the majority of other commodity prices were up on the day.
PowerShares DB Gold Double Short ETN (NYSE:DZZ), ProShares UltraShort Gold (NYSE:GLL) and PowerShares DB Gold Short ETN (NYSE:DGZ) all closed down as expected on an up gold day.
June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.
The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.
The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.
ProShares Ultra Gold (UGL) closed Wednesday at $76.66, gaining $0.95, or 1.25 percent. SPDR Gold Trust (GLD) ended the day at $145.60, up $0.86, or 0.59 percent. Market Vectors Gold Miners ETF (GDX) closed at $55.39, rising $0.38, or 0.69 percent. Market Vectors Junior Gold Mine (GDXJ) closed at $35.39, gaining $0.92, or 2.67 percent.
PowerShares DB Gold Double Short ETN (NYSE:DZZ), ProShares UltraShort Gold (NYSE:GLL) and PowerShares DB Gold Short ETN (NYSE:DGZ) all closed down as expected on an up gold day.
June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.
The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.
The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.
ProShares Ultra Gold (UGL) closed Wednesday at $76.66, gaining $0.95, or 1.25 percent. SPDR Gold Trust (GLD) ended the day at $145.60, up $0.86, or 0.59 percent. Market Vectors Gold Miners ETF (GDX) closed at $55.39, rising $0.38, or 0.69 percent. Market Vectors Junior Gold Mine (GDXJ) closed at $35.39, gaining $0.92, or 2.67 percent.
Tuesday, May 17, 2011
SPDR Gold Trust (GLD) Falls with Gold Prices
SPDR Gold Trust (NYSE:GLD) dropped in Wednesday trading, as gold prices plunged again in the extremely volatile market.
Gold for June delivery dropped $15.50 to settle at $1,501.40 at the Comex division of the New York Mercantile Exchange. The gold price Wednesday traded as high as $1,526.80 and as low as $1,495.40.
Gold lost 1 percent overall and silver plunged close to 8 percent on a broad commodity selloff, as the U.S. dollar index climbed over 1 percent to $75.41, as the euro was weakened by the seemingly endless sovereign debt crisis in Europe that isn't going away.
Gold and silver also garnered no support from rising inflation data. China said prices dropped to 5.3 percent in April from 5.4 percent in March, but that number was higher than the 5.2 percent looked for.
The most-actively traded silver contract, for July delivery, settled down $2.971, or 7.7 percent, at $35.515 per troy ounce on the Comex division of the New York Mercantile Exchange. Silver for May delivery was down $2.971, or 7.7 percent, at $35.509.
SPDR Gold Trust investment attempts to replicate the performance, net of expenses, of the price of gold bullion.
SPDR Gold Trust (GLD) closed Wednesday at $146.54, falling $1.36, or 0.92 percent.
Gold for June delivery dropped $15.50 to settle at $1,501.40 at the Comex division of the New York Mercantile Exchange. The gold price Wednesday traded as high as $1,526.80 and as low as $1,495.40.
Gold lost 1 percent overall and silver plunged close to 8 percent on a broad commodity selloff, as the U.S. dollar index climbed over 1 percent to $75.41, as the euro was weakened by the seemingly endless sovereign debt crisis in Europe that isn't going away.
Gold and silver also garnered no support from rising inflation data. China said prices dropped to 5.3 percent in April from 5.4 percent in March, but that number was higher than the 5.2 percent looked for.
The most-actively traded silver contract, for July delivery, settled down $2.971, or 7.7 percent, at $35.515 per troy ounce on the Comex division of the New York Mercantile Exchange. Silver for May delivery was down $2.971, or 7.7 percent, at $35.509.
SPDR Gold Trust investment attempts to replicate the performance, net of expenses, of the price of gold bullion.
SPDR Gold Trust (GLD) closed Wednesday at $146.54, falling $1.36, or 0.92 percent.
Monday, May 16, 2011
Gold ETFs SPDR (GLD) (GDX) (GDXJ) (IAU) (DGP) Trade Down As Gold Falls
Gold and silver prices went through a reversal Friday, as gold closed down and silver rebounded to close higher, putting pressure on gold ETFs like SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Market Vectors Junior Gold Mine (NYSE:GDXJ), PowerShares DB Gold Double Long ETN (NYSE:DGP) and iShares Gold Trust (NYSE:IAU), which all closed down Friday.
Gold for June delivery fell $13.10 to close at $1,493.60 at the Comex division of the New York Mercantile Exchange. The spot gold price was down by about $13 an ounce. Silver prices settled up 21 cents to $35.01 an ounce.
The U.S. dollar index was up 0.74 percent to $75.75 as the euro continued to get hammered on the sovereign debt crises in Europe. The euro plunged 1.7 percent last week as Greece was again in the spotlight for the need to probably be bailed out again, as it appears the country refuses to implement austerity measures to deal with the situation, as it, along with numerous countries, has made progressive, socialists promises they aren't able to keep.
Besides the long-term collapse of the U.S. dollar and the European sovereign debt crises, other factors offering support to gold include tightening in China, inflation, and unrest in the middle east.
SPDR Gold Trust (GLD) closed Friday at $145.63, down $0.96, or 0.65 percent. Market Vectors Gold Miners ETF (GDX) ended the day at $54.21, falling $0.44, or 0.81 percent. Market Vectors Junior Gold Mine (GDXJ) closed at $34.69, dropping $0.67, or 1.89 percent. iShares Gold Trust (IAU) closed at $14.59, declining $0.10, or 0.68 percent. PowerShares DB Gold Double Long ETN (DGP) ended the session at $46.19, falling $0.66, or 1.42 percent.
Gold for June delivery fell $13.10 to close at $1,493.60 at the Comex division of the New York Mercantile Exchange. The spot gold price was down by about $13 an ounce. Silver prices settled up 21 cents to $35.01 an ounce.
The U.S. dollar index was up 0.74 percent to $75.75 as the euro continued to get hammered on the sovereign debt crises in Europe. The euro plunged 1.7 percent last week as Greece was again in the spotlight for the need to probably be bailed out again, as it appears the country refuses to implement austerity measures to deal with the situation, as it, along with numerous countries, has made progressive, socialists promises they aren't able to keep.
Besides the long-term collapse of the U.S. dollar and the European sovereign debt crises, other factors offering support to gold include tightening in China, inflation, and unrest in the middle east.
SPDR Gold Trust (GLD) closed Friday at $145.63, down $0.96, or 0.65 percent. Market Vectors Gold Miners ETF (GDX) ended the day at $54.21, falling $0.44, or 0.81 percent. Market Vectors Junior Gold Mine (GDXJ) closed at $34.69, dropping $0.67, or 1.89 percent. iShares Gold Trust (IAU) closed at $14.59, declining $0.10, or 0.68 percent. PowerShares DB Gold Double Long ETN (DGP) ended the session at $46.19, falling $0.66, or 1.42 percent.
Monday, May 9, 2011
ETF Shorts (ZSL) (GLL) (DGZ) (DZZ) Trading Down Today
Shares of gold and silver ETFs and ETNs that short the precious metals are down today, including ProShares UltraShort Silver (NYSE:ZSL), ProShares UltraShort Gold (NYSE:GLL), PowerShares DB Gold Short ETN (NYSE:DGZ) and PowerShares DB Gold Double Short ETN (NYSE:DZZ).
The more volatile silver market and price is reflected in the performance of ProShares UltraShort Silver ETF, which was trading down almost 15 percent today, the usual percentage swing - whether positive or negative - the ETF usually takes on any given day, depending on the price movement swings.
Volume for all the ETFs or ETNs listed above are also far above their 3-month daily averages.
PowerShares DB Gold Short ETN (DGZ) was trading at $14.07, down $0.17, or 1.19 percent, as of 2:15 PM EDT. ProShares UltraShort Gold (GLL) was at $23.99, falling $0.67, or 2.72 percent, as of 2:39PM EDT. ProShares UltraShort Silver (ZSL) was trading at $19.68, down $3.43, or 14.84 percent. PowerShares DB Gold Double Short ETN (DZZ) was at $6.80, dropping $0.16, or 2.30 percent.
EFTs not shorting gold and silver were jumping today, as shares of iShares Silver Trust (NYSE:SLV), ProShares Ultra Silver ETF (NYSE:AGQ), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX) and Junior Gold Miners (NYSE:GDXJ) were all trading positive today.
The more volatile silver market and price is reflected in the performance of ProShares UltraShort Silver ETF, which was trading down almost 15 percent today, the usual percentage swing - whether positive or negative - the ETF usually takes on any given day, depending on the price movement swings.
Volume for all the ETFs or ETNs listed above are also far above their 3-month daily averages.
PowerShares DB Gold Short ETN (DGZ) was trading at $14.07, down $0.17, or 1.19 percent, as of 2:15 PM EDT. ProShares UltraShort Gold (GLL) was at $23.99, falling $0.67, or 2.72 percent, as of 2:39PM EDT. ProShares UltraShort Silver (ZSL) was trading at $19.68, down $3.43, or 14.84 percent. PowerShares DB Gold Double Short ETN (DZZ) was at $6.80, dropping $0.16, or 2.30 percent.
EFTs not shorting gold and silver were jumping today, as shares of iShares Silver Trust (NYSE:SLV), ProShares Ultra Silver ETF (NYSE:AGQ), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX) and Junior Gold Miners (NYSE:GDXJ) were all trading positive today.
Gold ETFs (GDXJ) (DGP) (GLD) After Gold Closes Up
Gold was able to shake itself of silver Friday, as it has been weighed down by the plummeting price of silver in recent trade, which also has been dragging down gold ETFs and ETNs like Market Vectors Junior Gold Mine (NYSE:GDXJ), DB Gold Double Long ETN (NYSE:DGP) and SPDR Gold Trust (NYSE:GLD).
Gold for June delivery climbed $10.20, or 0.7 percent, to $1,491.60 an ounce. Gold lost 4.2 percent last week, as it had settled at a record $1,556.40 an ounce the Friday before. Gold fell 4.2 percent on the week.
Silver for July delivery dropped 95.3 cents, or 2.6 percent, to $35.29 an ounce on the Comex division of the New York Mercantile Exchange. It had risen as high as $36.43 an ounce in Friday's trading.
The front-month silver contract had its worst week since late March 1980. Silver for May delivery fell 27 percent in the five-day period — its biggest percent drop since that date. The most-active July contract also was down 27 percent on the week.
Silver has lost 14 percent so far in 2011. On April 25, silver had reached as high as $49.845.
DB Gold Double Long ETN (NYSE:DGP) closed Friday at $46.04, gaining $1.36, or 3.04 percent.
Gold for June delivery climbed $10.20, or 0.7 percent, to $1,491.60 an ounce. Gold lost 4.2 percent last week, as it had settled at a record $1,556.40 an ounce the Friday before. Gold fell 4.2 percent on the week.
Silver for July delivery dropped 95.3 cents, or 2.6 percent, to $35.29 an ounce on the Comex division of the New York Mercantile Exchange. It had risen as high as $36.43 an ounce in Friday's trading.
The front-month silver contract had its worst week since late March 1980. Silver for May delivery fell 27 percent in the five-day period — its biggest percent drop since that date. The most-active July contract also was down 27 percent on the week.
Silver has lost 14 percent so far in 2011. On April 25, silver had reached as high as $49.845.
DB Gold Double Long ETN (NYSE:DGP) closed Friday at $46.04, gaining $1.36, or 3.04 percent.
Friday, May 6, 2011
Gold ETFs (UGL) (GLD) (GDX) (GDXJ) (GTU) Crushed as Gold Prices Fall
Gold ETFs ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Market Vectors Junior Gold Miner (NYSE:GDXJ) and Central Gold Trust (AMEX:GTU) got hit hard Thursday as gold and silver prices continued their fall.
One exception was ProShares UltraShort Gold (NYSE:GLL), which ended the trading session up again, closing at $25.29, gaining $1.41, or 5.90 percent. A number of commodity ETF shorts have been soaring during the commodity correction
Gold for May delivery, the front-month contract, ended the trading session Thursday down $34, or 2.2 percent, at $1,480.90 per troy ounce on the Comex division of the New York Mercantile Exchange.
The silver contract for May delivery closed 8 percent lower, down $3.152, at $36.231 per troy ounce.
Since the Friday settlement price silver has plummeted 25 percent.
The U.S. dollar was also up, adding pressure to the two precious metals, as it gained 2 percent against the euro. That came largely from European Central Bank President Jean-Claude Trichet who suggested there will no interest-rate boost in the near future.
Nothing has changed the underlying fundamentals for gold or silver though, and this is just a healthy correction before gold and silver prices begin moving up again.
As long as easy money policies continue by the Federal Reserve and interest rates remain near zero, there is nothing to stop gold and silver prices from continuing to rise.
Inflation, political unrest, sovereign debt crisis and the collapsing U.S. dollar will also play a major role over time for gold and silver prices.
Market Vectors Junior Gold Miner closed Thursday at $35.79, falling $2.15, or 5.67 percent.
One exception was ProShares UltraShort Gold (NYSE:GLL), which ended the trading session up again, closing at $25.29, gaining $1.41, or 5.90 percent. A number of commodity ETF shorts have been soaring during the commodity correction
Gold for May delivery, the front-month contract, ended the trading session Thursday down $34, or 2.2 percent, at $1,480.90 per troy ounce on the Comex division of the New York Mercantile Exchange.
The silver contract for May delivery closed 8 percent lower, down $3.152, at $36.231 per troy ounce.
Since the Friday settlement price silver has plummeted 25 percent.
The U.S. dollar was also up, adding pressure to the two precious metals, as it gained 2 percent against the euro. That came largely from European Central Bank President Jean-Claude Trichet who suggested there will no interest-rate boost in the near future.
Nothing has changed the underlying fundamentals for gold or silver though, and this is just a healthy correction before gold and silver prices begin moving up again.
As long as easy money policies continue by the Federal Reserve and interest rates remain near zero, there is nothing to stop gold and silver prices from continuing to rise.
Inflation, political unrest, sovereign debt crisis and the collapsing U.S. dollar will also play a major role over time for gold and silver prices.
Market Vectors Junior Gold Miner closed Thursday at $35.79, falling $2.15, or 5.67 percent.
Wednesday, May 4, 2011
Pressure on (UGL) (GLD) (GDX) (GDXJ) (GTU) as Gold Prices Fall
Shares of gold ETFs like ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Market Vectors Junior Gold Mine (NYSE:GDXJ) and Central Gold Trust (AMEX:GTU) were dropped Tuesday as the price of gold fell on the session, with the U.S. dollar gaining a little.
On the other hand ProShares UltraShort Gold (NYSE:GLL) responded in the positive, as expected.
Gold for June delivery fell $16.70 to $1,540.40 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded in a range as high as $1,551.40 and as low as $1,516.20. The spot gold price fell over $15 for the day.
A temporarily stronger U.S. dollar put some pressure on gold and silver prices Tuesday, as the U.S. dollar index climbed 0.04 percent to $73.09.
Also surprising the market was the decision by India to boost their interest rates by 50 basis points to fight inflation. That puts the lending rate their at 8.89 percent, and the overnight lending rate at 7.25 percent.
Silver fell another $3.49 Tuesday to settle at $42.576 per troy ounce on the Comex division of the Nymex.
Most of pressure on silver prices has come from the CME Group decision to raise margin requirements by 11.6 percent, starting at the close of market on Tuesday.
Gold looks like it's just taking a needed breather before resuming its upward run.
Gold stocks have been overall lagging the price of gold, and that should change assuming the costs of inputs remain lower than the push up in gold prices.
A growing number of gold miners are increasing dividends to attract investors.
Market Vectors Junior Gold Miners (GDXJ) closed at $37.92, falling $1.82, or 4.58 percent.
On the other hand ProShares UltraShort Gold (NYSE:GLL) responded in the positive, as expected.
Gold for June delivery fell $16.70 to $1,540.40 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded in a range as high as $1,551.40 and as low as $1,516.20. The spot gold price fell over $15 for the day.
A temporarily stronger U.S. dollar put some pressure on gold and silver prices Tuesday, as the U.S. dollar index climbed 0.04 percent to $73.09.
Also surprising the market was the decision by India to boost their interest rates by 50 basis points to fight inflation. That puts the lending rate their at 8.89 percent, and the overnight lending rate at 7.25 percent.
Silver fell another $3.49 Tuesday to settle at $42.576 per troy ounce on the Comex division of the Nymex.
Most of pressure on silver prices has come from the CME Group decision to raise margin requirements by 11.6 percent, starting at the close of market on Tuesday.
Gold looks like it's just taking a needed breather before resuming its upward run.
Gold stocks have been overall lagging the price of gold, and that should change assuming the costs of inputs remain lower than the push up in gold prices.
A growing number of gold miners are increasing dividends to attract investors.
Market Vectors Junior Gold Miners (GDXJ) closed at $37.92, falling $1.82, or 4.58 percent.
Monday, May 2, 2011
Central (GTU) (GLL) (UGL) (GLD) (GDX) (GDXJ) Trade Mixed as Gold Price Breaks Records Again
Central Gold Trust (AMEX:GTU), ProShares UltraShort Gold (NYSE:GLL), ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSEArca:GDX) and Market Vectors Junior Gold Mine(NYSEArca:GDXJ) closed mixed Friday as gold price records continue be broken.
Gold futures soared past $1,550 an ounce Friday as investors looked for an alternative to the U.S. dollar, which continues to collapse.
The most-actively traded gold contract, for June delivery climbed $25.20, or 1.6 percent, to settle at a record $1,556.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
It roared past its intraday peak to $1,569.80 in electronic trading after the close. May gold rose $25.20, or 1.6 percent, to end at a nearby record $1,556.00. Measured by percent and the U.S. dollar, it's the largest monthly gains since November 2009.
Most-active July silver jumped $1.058, or 2.2%, to a record settlement of $48.599 a troy ounce, while the May contract rose $1.064, or 2.2 percent, to $48.584, just short of its all-time settlement high of $48.70 hit on January 17, 1980. In April, the May silver contract rallied $10.712, or 28.3 percent, to its biggest monthly U.S. dollar gain in Comex history.
The ICE Futures U.S. Dollar Index was down 0.2 percent on Friday, increasing demand for the dollar-denominated precious metals by making them less expensive for foreign buyers.
Inflation concerns in America, Europe, China and Russia also has contributed to the jump in gold prices.
Other factors affecting gold and silver are the collapsing U.S. dollar, sovereign debt crisis in Europe, unrest in the Middle East and consequences of the Japanese earthquake.
Gold futures soared past $1,550 an ounce Friday as investors looked for an alternative to the U.S. dollar, which continues to collapse.
The most-actively traded gold contract, for June delivery climbed $25.20, or 1.6 percent, to settle at a record $1,556.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
It roared past its intraday peak to $1,569.80 in electronic trading after the close. May gold rose $25.20, or 1.6 percent, to end at a nearby record $1,556.00. Measured by percent and the U.S. dollar, it's the largest monthly gains since November 2009.
Most-active July silver jumped $1.058, or 2.2%, to a record settlement of $48.599 a troy ounce, while the May contract rose $1.064, or 2.2 percent, to $48.584, just short of its all-time settlement high of $48.70 hit on January 17, 1980. In April, the May silver contract rallied $10.712, or 28.3 percent, to its biggest monthly U.S. dollar gain in Comex history.
The ICE Futures U.S. Dollar Index was down 0.2 percent on Friday, increasing demand for the dollar-denominated precious metals by making them less expensive for foreign buyers.
Inflation concerns in America, Europe, China and Russia also has contributed to the jump in gold prices.
Other factors affecting gold and silver are the collapsing U.S. dollar, sovereign debt crisis in Europe, unrest in the Middle East and consequences of the Japanese earthquake.
Friday, April 29, 2011
Central Gold (GTU) (GLL) (UGL) (GLD) (GDX) (GDXJ) Close Mixed as Gold, Silver Break Records
ProShares UltraShort Gold (NYSE:GLL), ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSEArca:GDX), Market Vectors Junior Gold Mine(NYSEArca:GDXJ) and Central Gold Trust (AMEX:GTU) closed mixed Thursday even as silver and gold prices broke all-time records. It appears investors are taking some profits off the top.
Gold prices soared while silver prices climbed Thursday as investors bought the metals against a weak dollar and higher inflation expectations.
Gold for June delivery settled $14.10 higher at $1,531.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price soared to a record intra-day level of $1,538.80 an ounce while the spot gold price rose $6.90.
Silver prices for July moved up $1.55 to settle at $47.54 an ounce.
Spot silver jumped almost 4 percent Thursday to an all time high at $49.51 an ounce, surpassing the previous record set in 1980.
The ICE Futures U.S. Dollar Index was down 0.4 percent. The collapsing greenback aided dollar-denominated gold and silver by making them less expensive for foreign buyers, generating more demand.
Gold prices soared while silver prices climbed Thursday as investors bought the metals against a weak dollar and higher inflation expectations.
Gold for June delivery settled $14.10 higher at $1,531.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price soared to a record intra-day level of $1,538.80 an ounce while the spot gold price rose $6.90.
Silver prices for July moved up $1.55 to settle at $47.54 an ounce.
Spot silver jumped almost 4 percent Thursday to an all time high at $49.51 an ounce, surpassing the previous record set in 1980.
The ICE Futures U.S. Dollar Index was down 0.4 percent. The collapsing greenback aided dollar-denominated gold and silver by making them less expensive for foreign buyers, generating more demand.
Thursday, April 28, 2011
SPDR Gold Trust (GLD) (UGL) (GDX) (GDXJ) (GTU) Close up as Gold Prices Soar to New Records
ProShares Ultra Gold (NYSE:UGL), SPDR Gold Trust (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Market Vectors Junior Gold Mine(NYSE:GDXJ) and Central Gold Trust (AMEX:GTU) closed up Wednesday, as gold posted new records again and silver soared.
Gold prices Wednesday climbed to another record, reaching as high as $1,529.20 on the Comex division of the New York Mercantile Exchange, before ending the session at $1,517.10 an ounce for June at the Comex.
At the close of regular trading on Comex, silver for May delivery jumped 91 cents, or 2 percent, to end at $45.96 an ounce. Gold and silver were pushing higher in after-hours trading.
Some of this was the result of Federal Reserve chairman Ben Bernanke saying he won't be doing anything soon to combat the soaring inflation.
Bernanke likes to use the so-called core inflation numbers, which exclude food and fuel, which are part of the surging increase in inflation, but aren't officially counted. Which is why Bernanke can say core inflation will rise 1.3%-1.6%, below its 2% inflation mandate.
As to economic growth, Bernanke admitted it was slowing down in the U.S. in 2011, somewhere in the range of 3.1%-3.3%.
The non-action by the Fed concerning interest rates is a very bullish factor for gold and silver, and will continue to offer support and impetus to the precious metals.
The euro climbed to $1.4782 from Tuesday's $1.464. The U.S. dollar rose against the yen, up to 82.11 yen from Tuesday's 81.53 yen.
Central Gold Trust closed Wednesday at $58.60, rising $1.20, or 2.09 percent. Market Vectors Junior Gold Mine closed at $41.63, gaining $1.48, or 3.69 percent. Market Vectors Gold Miners ETF ended the day at $61.61, climbing $1.39, or 2.31 percent. SPDR Gold Trust closed at $149.20, jumping $2.82, or 1.93 percent. ProShares Ultra Gold closed at $80.72, gaining $2.98, or 3.83 percent.
Gold prices Wednesday climbed to another record, reaching as high as $1,529.20 on the Comex division of the New York Mercantile Exchange, before ending the session at $1,517.10 an ounce for June at the Comex.
At the close of regular trading on Comex, silver for May delivery jumped 91 cents, or 2 percent, to end at $45.96 an ounce. Gold and silver were pushing higher in after-hours trading.
Some of this was the result of Federal Reserve chairman Ben Bernanke saying he won't be doing anything soon to combat the soaring inflation.
Bernanke likes to use the so-called core inflation numbers, which exclude food and fuel, which are part of the surging increase in inflation, but aren't officially counted. Which is why Bernanke can say core inflation will rise 1.3%-1.6%, below its 2% inflation mandate.
As to economic growth, Bernanke admitted it was slowing down in the U.S. in 2011, somewhere in the range of 3.1%-3.3%.
The non-action by the Fed concerning interest rates is a very bullish factor for gold and silver, and will continue to offer support and impetus to the precious metals.
The euro climbed to $1.4782 from Tuesday's $1.464. The U.S. dollar rose against the yen, up to 82.11 yen from Tuesday's 81.53 yen.
Central Gold Trust closed Wednesday at $58.60, rising $1.20, or 2.09 percent. Market Vectors Junior Gold Mine closed at $41.63, gaining $1.48, or 3.69 percent. Market Vectors Gold Miners ETF ended the day at $61.61, climbing $1.39, or 2.31 percent. SPDR Gold Trust closed at $149.20, jumping $2.82, or 1.93 percent. ProShares Ultra Gold closed at $80.72, gaining $2.98, or 3.83 percent.
Wednesday, April 20, 2011
Gold, Silver Up as ETFs (GLD) (GDX) (SLV) SIL) Close Up or Level
Silver prices moved up with gold, reaching another 31-year high as gold blew past the $1,500 an ounce mark on Tuesday for the first time. SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), iShares Silver Trust ETF (SLV) and Global X Silver Miners ETF (SIL) closed up or level on the day.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Silver prices for May delivery climbed almost a dollar to settle at $43.91, adding 96 cents, another 31-year high.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake. Silver is used by some investors as a gold alternative when gold price rise to high levels as they now are.
The warning from rating agency S&P that the U.S. may have its debt downgraded if it doesn't deal with the risky debt crisis and you have a weak macroeconomic outlook favoring silver, gold and other commodities.
Global X Silver Miners ETF closed Tuesday at $28.73, gaining $0.50, or 1.77 percent. iShares Silver Trust ETF ended the session at $43.00, gaining $0.58, or 1.37 percent. Market Vectors Gold Miners ETF closed at $61.64, up $0.81, or 1.33 percent. SPDR Gold Trust ETF closed the day level at $145.93.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Silver prices for May delivery climbed almost a dollar to settle at $43.91, adding 96 cents, another 31-year high.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake. Silver is used by some investors as a gold alternative when gold price rise to high levels as they now are.
The warning from rating agency S&P that the U.S. may have its debt downgraded if it doesn't deal with the risky debt crisis and you have a weak macroeconomic outlook favoring silver, gold and other commodities.
Global X Silver Miners ETF closed Tuesday at $28.73, gaining $0.50, or 1.77 percent. iShares Silver Trust ETF ended the session at $43.00, gaining $0.58, or 1.37 percent. Market Vectors Gold Miners ETF closed at $61.64, up $0.81, or 1.33 percent. SPDR Gold Trust ETF closed the day level at $145.93.
Wednesday, April 13, 2011
SPDR Gold Trust (GLD) (GDX) (SLV) (GDXJ) (SIL) Down with Broader Commodities
Gold and silver prices fell Tuesday after running up recently, as oil prices fell, dragging commodities in general down with them. The Global X Silver Miners ETF (SIL), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), iShares Silver Trust (SLV) and SPDR Gold Trust (GLD) all closed down on the day
Gold for June delivery fell $14.50, or 1%, to $1,453.60 an ounce on the Comex division of the New York Mercantile Exchange. It had traded as low as $1,445 an ounce.
Silver declined from its 31-year high over the previous session. The May contract (SIK11) dropped 55 cents, or 1.3%, to settle at $40.07 an ounce.
The U.S. dollar fell again, making the downward move even more counterintuitive to the fundamentals.
Market Vectors Junior Gold Miners ETF closed Tuesday at $39.44, down $1.29, or 3.17 percent. Market Vectors Gold Miners ETF closed at $61.11, falling $0.99, or 1.59 percent. Global X Silver Miners ETF ended the session at $28.39, declining $1.00, or 3.41 percent. SPDR Gold Trust closed at $141.61, dropping $1.03, or 0.72 percent. iShares Silver Trust closed at $39.09, falling $0.12, or 0.31 percent.
Gold for June delivery fell $14.50, or 1%, to $1,453.60 an ounce on the Comex division of the New York Mercantile Exchange. It had traded as low as $1,445 an ounce.
Silver declined from its 31-year high over the previous session. The May contract (SIK11) dropped 55 cents, or 1.3%, to settle at $40.07 an ounce.
The U.S. dollar fell again, making the downward move even more counterintuitive to the fundamentals.
Market Vectors Junior Gold Miners ETF closed Tuesday at $39.44, down $1.29, or 3.17 percent. Market Vectors Gold Miners ETF closed at $61.11, falling $0.99, or 1.59 percent. Global X Silver Miners ETF ended the session at $28.39, declining $1.00, or 3.41 percent. SPDR Gold Trust closed at $141.61, dropping $1.03, or 0.72 percent. iShares Silver Trust closed at $39.09, falling $0.12, or 0.31 percent.
Thursday, April 7, 2011
Copper ETN (JJC) Up as (GLD)(SLV) Take a Break
After a record run up, shares of the SPDR Gold Trust (NYSEArca:GLD) and iShares Silver Trust (NYSEArca:SLV) taking a rest today, while iPath Copper ETN (NYSEArca:JJC) has its turn in the sun.
Mining ETFs in the sector are also under some pressure in the trading session. The Market Vectors Gold Miners ETF (NYSEArca:GDX) is down 0.3% and the Global X Silver Miners ETF (NYSEArca:SIL) were down or flat on the day.
The anticipated decision by Europe to raise interest rates hasn't had too impact on the commodity sector, as expectations are that will continue on at a very slow pace going forward, with that probably being done once a year, assuming past assertions are the practice.
In America, it's unlikely we'll see an interest rate boost any time soon.
Global X Silver Miners ETF was trading at $30.06, as of 12:51 PM EDT. Market Vectors Gold Miners ETF was at $62.60, falling $0.17, or 0.27 percent. iShares Silver Trust was trading at $38.61, down $0.01, or 0.03 percent. SPDR Gold Trust was at $142.05, down $0.33, or 0.23 percent. iPath Dow Jones UBS Copper was trading at $58.56, gaining $0.60, or 1.04 percent.
Mining ETFs in the sector are also under some pressure in the trading session. The Market Vectors Gold Miners ETF (NYSEArca:GDX) is down 0.3% and the Global X Silver Miners ETF (NYSEArca:SIL) were down or flat on the day.
The anticipated decision by Europe to raise interest rates hasn't had too impact on the commodity sector, as expectations are that will continue on at a very slow pace going forward, with that probably being done once a year, assuming past assertions are the practice.
In America, it's unlikely we'll see an interest rate boost any time soon.
Global X Silver Miners ETF was trading at $30.06, as of 12:51 PM EDT. Market Vectors Gold Miners ETF was at $62.60, falling $0.17, or 0.27 percent. iShares Silver Trust was trading at $38.61, down $0.01, or 0.03 percent. SPDR Gold Trust was at $142.05, down $0.33, or 0.23 percent. iPath Dow Jones UBS Copper was trading at $58.56, gaining $0.60, or 1.04 percent.
Thursday, March 24, 2011
SPDR Gold Trust (GLD) Hits Record High
SPDR Gold Trust (NYSEArca:GLD) soared to over $140 as gold bullion closed at $1438 after soaring to $1442, and will continue to rise as investors attempt to protect themselves. Silver actually hit a new 35-year peak at $37.19, and getting closer to the $40-$50 goal we set last fall.
Gold is no longer just a hedge against QE2 and inflation– or a hedge against deflation. Or a hedge against a declining dollar. Today, gold has become an expression of the instability spreading from Tunisia to Egypt to Libya to Syria, to Yemen, to Saudi Arabia, to Iran, to Bahrain– and those street dissensions to come, conceivably in Kuwait, UAE, and elsewhere. Oil supplies are threatened. Buy gold and silver.
You don’t believe? Look at a chart of gold against silver. They are moving in absolute tandem now. Any Sheikh trying to preserve his fortune must own gold and silver.
In the US the price of GLD, the largest gold ETF, hit a peak of $140 and looks set to breakthrough that mark tomorrow or the next day. Let’s see if net selling turns into net buying.
SPDR Gold Trust closed Wednesday at $140.34, rising $1.29, or 0.93 percent.
Source
Gold is no longer just a hedge against QE2 and inflation– or a hedge against deflation. Or a hedge against a declining dollar. Today, gold has become an expression of the instability spreading from Tunisia to Egypt to Libya to Syria, to Yemen, to Saudi Arabia, to Iran, to Bahrain– and those street dissensions to come, conceivably in Kuwait, UAE, and elsewhere. Oil supplies are threatened. Buy gold and silver.
You don’t believe? Look at a chart of gold against silver. They are moving in absolute tandem now. Any Sheikh trying to preserve his fortune must own gold and silver.
In the US the price of GLD, the largest gold ETF, hit a peak of $140 and looks set to breakthrough that mark tomorrow or the next day. Let’s see if net selling turns into net buying.
SPDR Gold Trust closed Wednesday at $140.34, rising $1.29, or 0.93 percent.
Source
Friday, March 11, 2011
Newmont (NEM), Barrick (ABX), Goldcorp (GG), Eldorado (EGO) Jump on Safe Haven Focus
A number of things have again been lining up to support gold recently, including continuing sovereign debt issues in the EU; most recently with Spain. There's also rising inflation, and today's reminder with the earthquake in Japan, the fragility of the global economy. There's also the fighting in Libya which hasn't slowed down at all, creating more uncertainty.
Consequently investors are again migrating to gold and gold investments like miners Newmont (NYSE:NEM), Barrick (NYSE:ABX), Goldcorp (NYSE:GG), Eldorado Gold (NYSE:EGO), which are all up today as gold prices are bid up.
Gold for April delivery rose $7.10, or 0.5%, to $1,419.50 an ounce on the Comex division of the New York Mercantile Exchange.
Shares in SPDR Gold Trust (NYSEArca:GLD), Market Vectors Gold Miners ETF (NYSEArca:GDX) and Market Vectors Junior Gold Miners ETF (NYSEArca:GDXJ) are all up as well.
Silver investments like the iShares Silver Trust (NYSEArca:SLV) and Global X Silver Miners ETF (NYSEArca:SIL), along with Silver Wheaton (NYSE:SLW), are all up as well, moving in unison with gold.
Consequently investors are again migrating to gold and gold investments like miners Newmont (NYSE:NEM), Barrick (NYSE:ABX), Goldcorp (NYSE:GG), Eldorado Gold (NYSE:EGO), which are all up today as gold prices are bid up.
Gold for April delivery rose $7.10, or 0.5%, to $1,419.50 an ounce on the Comex division of the New York Mercantile Exchange.
Shares in SPDR Gold Trust (NYSEArca:GLD), Market Vectors Gold Miners ETF (NYSEArca:GDX) and Market Vectors Junior Gold Miners ETF (NYSEArca:GDXJ) are all up as well.
Silver investments like the iShares Silver Trust (NYSEArca:SLV) and Global X Silver Miners ETF (NYSEArca:SIL), along with Silver Wheaton (NYSE:SLW), are all up as well, moving in unison with gold.
Wednesday, March 2, 2011
Grab SPDR Gold Trust (GLD), iShares Silver Trust (SLV) to Play Gold, Silver Futures
As gold and silver continue their rise, investors are increasingly putting their money into SPDR Gold Trust (NYSEArca:GLD) and/or iShares Silver Trust (NYSEArca:SLV) as a way to play gold and silver futures, rather than invest directly in futures.
Both ETFs are trading at near the top of their 52-week range.
If you like ETFs, another way to play gold and silver is via mining companies, where one could invest in Market Vectors Gold Miners (NYSEArca:GDX) or the Global X Silver ETF (NYSEArca:SIL), among many others, depending on what sector of the mining sector you want to focus on.
While all of these are relatively pricey because of the ongoing surge in gold and silver prices, it's doubtful it would be a good strategy to wait at this time for prices to pull back, as the time, during this season, has passed.
Both ETFs are trading at near the top of their 52-week range.
If you like ETFs, another way to play gold and silver is via mining companies, where one could invest in Market Vectors Gold Miners (NYSEArca:GDX) or the Global X Silver ETF (NYSEArca:SIL), among many others, depending on what sector of the mining sector you want to focus on.
While all of these are relatively pricey because of the ongoing surge in gold and silver prices, it's doubtful it would be a good strategy to wait at this time for prices to pull back, as the time, during this season, has passed.
Monday, February 14, 2011
SPDR Gold Trust (NYSEArca:GLD) Gets $122 Million Jana Partners Investment
In the fourth quarter, Jana Partners said in a required regulatory filing that they invested $122 Million in SPDR Gold Trust (NYSEArca:GLD), equal to 881,844 shares.
After that investment it made SPDR Gold Trust the third-largest holding of the fund.
Another major holder of SPDR Gold Trust is John Paulson, who continues to be bullish on gold over the long term. His fund also has a major stake in NovaGold (AMEX:NG), among other gold miners.
Gold has been weak so far in 2011, but a growing number of investors and analysts expect it to break out sometime in the near future.
SPDR Gold Trust was trading at $133.04, up $0.72, or 0.54 percent, as of 1:51 PM EST.
After that investment it made SPDR Gold Trust the third-largest holding of the fund.
Another major holder of SPDR Gold Trust is John Paulson, who continues to be bullish on gold over the long term. His fund also has a major stake in NovaGold (AMEX:NG), among other gold miners.
Gold has been weak so far in 2011, but a growing number of investors and analysts expect it to break out sometime in the near future.
SPDR Gold Trust was trading at $133.04, up $0.72, or 0.54 percent, as of 1:51 PM EST.
Friday, January 14, 2011
SPDR Gold Trust (NYSE:GLD), AngloGold Ashanti (NYSE:AU), Bank of America (NYSE:BAC), Citigroup (NYSE:C), Hartford Financial Services (NYSE:HIG) Top Ho
Even though gold prices have been getting hit hard so far in 2011, that hasn't stopped John Paulson from keeping about 25 percent of his fund loaded with gold, including his top holding of SPDR Gold Trust (NYSE:GLD), which accounts for 17.6 percent of the fund, and AngloGold Ashanti (NYSE:AU), which accounts for 8.28 percent of the fund. Other top holdings include Bank of America (NYSE:BAC), Citigroup(NYSE:C) and Hartford Financial Services Group (NYSE:HIG) Bank of America makes up 7.8 percent of Paulson & Co.; Citigroup 7.24 percent; and Hartford Financial Services Group Inc. 4.41 percent, making up the top five holdings in the fund as of the last filing.
Paulson's fund has been soaring since 2007, rising by 175 percent while the Dow was losing 15 percent. As of the end of the fourth quarter of 2010, the fund was valued at $22.9 billion.
what's caught the eye of investors is this growth occured during one of the worst market downturns in the last century.
Paulson's fund has been soaring since 2007, rising by 175 percent while the Dow was losing 15 percent. As of the end of the fourth quarter of 2010, the fund was valued at $22.9 billion.
what's caught the eye of investors is this growth occured during one of the worst market downturns in the last century.
Tuesday, November 16, 2010
SPDR (NYSE:GLD), Market Vectors Gold (NYSE:GDX) Draw Hedge Fund Interest
Last quarter a number of hedge funds revealed in their required 13-F filings that they invested heavily in SPDR Gold Trust (NYSE:GLD), and to a lesser extent, Market Vectors Gold Miners ETF (NYSE:GDX).
Investing in SPDR were Third Point LLC, Highfields Capital, and the hedge fund ran by Chris Shumway, a former big trader at Goldman Sachs (NYSE:GS).
Highfields also invested in Market Vectors Gold Miners ETF, buying up 200,000 shares. They acquired 1.6 million shares of SPDR. Third Point bought 115,000 shares of SPDR, and Shumway's fund, 2.1 million shares.
On the other hand, George Soros divested of some shares in SPDR, while also getting rid of entire stakes in some gold miners.
It was somewhat of a mixed bag last quarter, with the hedge funds mentioned above, with the exception of Soros' adding to their gold positions.
While others sold shares also, all of them still retained significant gold exposure in them. It seems they think they may be at the top of the short-term upward move, and are poised for a correction.
The fact that they held so many shares speaks to the fact gold isn't near the end of its bull run by any means, and have taken profits at the top of the price while probably waiting for the correction to invest in gold again.
Investing in SPDR were Third Point LLC, Highfields Capital, and the hedge fund ran by Chris Shumway, a former big trader at Goldman Sachs (NYSE:GS).
Highfields also invested in Market Vectors Gold Miners ETF, buying up 200,000 shares. They acquired 1.6 million shares of SPDR. Third Point bought 115,000 shares of SPDR, and Shumway's fund, 2.1 million shares.
On the other hand, George Soros divested of some shares in SPDR, while also getting rid of entire stakes in some gold miners.
It was somewhat of a mixed bag last quarter, with the hedge funds mentioned above, with the exception of Soros' adding to their gold positions.
While others sold shares also, all of them still retained significant gold exposure in them. It seems they think they may be at the top of the short-term upward move, and are poised for a correction.
The fact that they held so many shares speaks to the fact gold isn't near the end of its bull run by any means, and have taken profits at the top of the price while probably waiting for the correction to invest in gold again.
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