SPDR Gold Trust ETF

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  • Oct. 19, 2012, 10:32 AM

    Selling by speculators is responsible for gold's recent slide, says the team at Commerzbank (which a month ago advised not to pay attention to growing speculative longs in the metal). We'll know more when the CFTC releases its trader position report this afternoon. GLD -0.4%.

    | Oct. 19, 2012, 10:32 AM | 5 Comments
  • Oct. 12, 2012, 11:28 AM
    Gold's recent breather is a healthy one, says Ned Davis' Neil Leeson, as investors had gotten to optimistic on the metal following a big summer rally topped off with the Fed's QE∞ announcement. The giant GLD had inflows of 4% of AUM in the last month, and the smaller IAU a near 7% bump.
    | Oct. 12, 2012, 11:28 AM | 5 Comments
  • Oct. 11, 2012, 5:20 PM

    The equity financing window for Canadian miners has opened up a little after a long dry spell, with more than $1.5B announced or completed since the start of September vs. just $2.8B in the first eight months of this year. But the window is only open to a select few; nearly all miners raising money in recent weeks are in production or have advanced projects with well-defined resources.

    | Oct. 11, 2012, 5:20 PM | 8 Comments
  • Oct. 4, 2012, 8:48 AM
    Gold looks set for another run at $1,800/oz. for the first time in a year, +0.8% this morning to $1,794. The metal got no assistance today from the BOE or the ECB - both of which left policy unchanged - but the worldwide central bank trend remains one of further ease.
    | Oct. 4, 2012, 8:48 AM | 4 Comments
  • Oct. 3, 2012, 9:51 AM
    Dan Loeb's Third Point hedge fund discloses holding 1.5M shares of Murphy Oil (MUR +0.2%) as of June 30. MUR is now the fund's fifth largest position behind YHOO, GLD, AAPL and AIG.
    | Oct. 3, 2012, 9:51 AM | 4 Comments
  • Oct. 2, 2012, 1:30 PM

    Gold is marking time today after a big 3-month run, but the RBA's surprise overnight rate cut makes it the latest central bank entry in a race to devalue currencies, and one wonders if the PBOC won't be far behind. Gold remains a currency no central bank can print "with a keystroke," says Janney's Mark Luschini, remaining bullish on the metal.

    | Oct. 2, 2012, 1:30 PM | 8 Comments
  • Oct. 1, 2012, 8:48 AM

    Chicago Fed President Charles Evans - the man whose ideas about QE∞ won the day on the FOMC - tells CNBC he expects unemployment in the 7% range for at least another 2 years. As 7% is unacceptable to Evans, the statement means he expects a minimum 2 years of continued $40B/month or more of asset purchases. Gold and silver erase early losses. GLD +0.3%, SLV +2% premarket.

    | Oct. 1, 2012, 8:48 AM | 9 Comments
  • Sep. 28, 2012, 2:25 PM

    Gold is on track for its best quarterly performance since 2010, up about 11% in Q3 as the Fed gets busy and the ECB threatens to. The moves - either by the central banks or the price, or a combination of both - have led to increased investor interest, as gold ETFs saw their biggest quarterly inflows in a year. GLD handily beats the surging SPY during Q3.

    | Sep. 28, 2012, 2:25 PM | 6 Comments
  • Sep. 28, 2012, 2:23 PM

    Gold ends the quarter with an 11% gain, but miners faced with labor unrest, rising labor costs and lower grades of ore haven't been sharing in the wealth. Only Yamana Gold (AUY), +29.8% YTD, has topped the metal's gain; ABX -8.3%, NEM -6.7%, KGC -10.6%. If costs continue to rise, companies may be forced to curtail production at marginal mines, which would send shares prices even lower.

    | Sep. 28, 2012, 2:23 PM | 3 Comments
  • Sep. 27, 2012, 3:13 PM

    Gold prices likely will receive only limited support from the labor unrest in South Africa (I, II), as the yellow metal’s price is underpinned by other factors, metals analysts say. Though a quick end to the disputes is not expected, the country’s gold production accounts for ~10% of world supply - substantial enough to be supportive of prices but not enough to push it up sharply.

    | Sep. 27, 2012, 3:13 PM | 1 Comment
  • Sep. 26, 2012, 12:32 PM

    Central bank demand could push gold prices to $2,500/oz. in three years, Newmont Mining (NEM) CEO Richard O'Brien says, seeing central banks purchasing at least 450 tons of gold next year as they try to diversify reserves and protect against inflation; bank buys on price dips should help create a floor for gold prices at ~$1,600.

    | Sep. 26, 2012, 12:32 PM | 8 Comments
  • Sep. 25, 2012, 2:40 PM

    As other research desks talk of gold hitting $2,400 or even higher, Citi predicts $1,800/oz. likely will be tested this quarter thanks to global central bank stimulus. The firm sees gradual economic improvement in 2013, "suggesting that sustained investor upside moves should be difficult to maintain." Citi ups its 2013 gold price forecast to $1,749, but note: The price is now $1,763.

    | Sep. 25, 2012, 2:40 PM | 10 Comments
  • Sep. 24, 2012, 9:38 AM

    Investors have been voracious buyers of silver and silver miner ETFs on QE-infinity, and when silver is outperforming gold, it is usually a bullish sign for the entire precious metals complex. Physically backed silver ETFs (SLV, SIVR, DBS) have jumped 23% in three months; silver miners (SIL, SLVP) are up 22%-plus. Physical gold (GLD) added ~10% and gold miners (GDX) ~15%.

    | Sep. 24, 2012, 9:38 AM | 4 Comments
  • Sep. 22, 2012, 10:02 AM

    An unmistakable trend is under way as investors cash in their bond ETF holdings and pour the money into stock funds. "A lot of fixed-income oriented people have decided to start chasing equities," says an ETF trader, as they fear being left behind by an equity market juggernaut (they already have been). Also seeing a rush are precious metals ETFs - the physical and the miners.

    | Sep. 22, 2012, 10:02 AM | 70 Comments
  • Sep. 21, 2012, 9:55 AM

    The surge in gold prices has led to a golden cross, the technical indicator that's often bullish for many markets. But gold is a different story, in the short term: In gold's 12 other golden crosses since 1976, gold prices have averaged a 1% decline over the next week and 2.5% over the next month. “From a technical perspective and based on historical analysis, it’s hard plowing into gold here,” Justin Walters says.

    | Sep. 21, 2012, 9:55 AM | 6 Comments
  • Sep. 21, 2012, 9:17 AM

    Southern Europe faces a "10-15 year managed depression," is the quote making headlines from a Ray Dalio interview on CNBC this morning. The best moment, however, came when Dalio - bullish on gold - is told by Andrew Sorkin that Warren Buffett won't touch the metal. "Tell somebody who cares," seems to be the look Dalio gives Sorkin in response.

    | Sep. 21, 2012, 9:17 AM | 10 Comments
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The objective of the SPDR® Gold Trust† is for the Shares to reflect the performance of the price of gold bullion, less the Trust's expenses.
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