• Dec. 5, 2012, 6:20 PM
    For anyone thinking of selling gold on Goldman's call, consider pulling a George Costanza and do the opposite: Nomura suggests buying gold ahead of next week’s Fed meeting where it expects more easing. Nomura also sees a "tactical" opportunity to buy the metal at below $1,700; net longs are off their highs, which means there's a good chance these buyers will jump back into the market.
    | Dec. 5, 2012, 6:20 PM | 12 Comments
  • Dec. 5, 2012, 8:59 AM

    Gold gets a downgrade at Goldman Sachs, the firm lowering its 2013 end-of-year price forecast to $1,800/oz., and 2014 to $1,750. "We see growing downside risks ... the gold outlook is caught between the opposing forces of more Fed easing and a gradual increase in U.S. real rates on better U.S. economic growth."

    | Dec. 5, 2012, 8:59 AM | 29 Comments
  • Dec. 4, 2012, 9:13 AM

    A sliding dollar is of no help to sensitive commodities, all tumbling in early trade. GLD -1.4%, SLV -2.2%, USO -1.2% premarket.

    | Dec. 4, 2012, 9:13 AM | 15 Comments
  • Nov. 29, 2012, 9:02 AM

    Agreeing on the creaky condition of the fiscal position of Western governments, two economists come to the opposite conclusion on gold. Lombard's Leigh Skene thinks the EU debt crisis has set in play a deflationary spiral in which gold falls (and sliver plunges), while John Williams says 2014 will bring realization of the U.S. government's insolvency and a soaring price.

    | Nov. 29, 2012, 9:02 AM | 7 Comments
  • Nov. 28, 2012, 2:55 PM

    Gold futures sank $20 at the open and never recovered, hit by a wave of stop-loss orders in a move blamed on a variety of reasons including technical selling, the expiration of options and futures contracts, deflationary concerns and a stronger U.S. dollar. One thing was certain: “There were no fat-finger trades or technical errors... This was a market-driven selloff."

    | Nov. 28, 2012, 2:55 PM | 10 Comments
  • Nov. 28, 2012, 9:18 AM

    If it's a fat finger, it's not immediately being lifted. So far, gold hasn't bounced a dime from a quick $20 sell-off an hour ago. Chatter says the move was due to a contract rollover that accidentally became an outright sell. Silver has moved in concert, SLV -2.1% premarket. Oil and copper, both lower by more than 1%, complete the picture for key commodities.

    | Nov. 28, 2012, 9:18 AM | 20 Comments
  • Nov. 28, 2012, 8:28 AM
    Flash crash in gold? The yellow metal dives $20 in the space of a few trades, now -1.6% to $1,716/oz.
    | Nov. 28, 2012, 8:28 AM | 17 Comments
  • Nov. 26, 2012, 10:49 AM

    Investors in ETFs and similar products push their gold holdings worldwide to a new all-time record of more than 83M oz. SPDR Gold Trust (GLD) entrenches its position as the second-biggest of all U.S. ETFs with more than $75B in assets, behind only the SPDR S&P 500 ETF’s (SPY) $105B. GLD ranks third in 2012 asset inflows, with $5.2B; inflows for iShares Gold Trust (IAU) totals $2.4B.

    | Nov. 26, 2012, 10:49 AM | 2 Comments
  • Nov. 15, 2012, 10:01 AM
    Gold slides 1.1% amidst the World Gold Council reporting an 11% Y/Y decline in Q3 demand to 1.1K metric tons. Central banks remained steady buyers, but investment demand - ETPs, bars, coins - was off 16% Y/Y. The WGC notes 2011 Q3 is a tough comparison, and demand remains well above the 5-year average of 984.7 metric tons.
    | Nov. 15, 2012, 10:01 AM | 12 Comments
  • Nov. 14, 2012, 10:46 AM

    No one can predict the future, but that central banks will continue pump-priming next year is about as certain as it gets. Look for gold to take out $2K/oz. in 2013 as a result, says Deutsche's Ray Key. Bulls should nevertheless take caution at these levels, he says, because the market "remains fundamentally long." A two-handed forecast if there ever was one.

    | Nov. 14, 2012, 10:46 AM | 2 Comments
  • Nov. 9, 2012, 4:54 PM

    Gold staged its strongest weekly price gain since January, finishing the week up 3.36% and leaving it ahead by 10.51% YTD, as Pres. Obama's re-election is read as a sign that the Fed's easy money policy will continue. But there was additional news from India, long the world's top gold importer: this weekend’s arrival of the annual Diwali festival.

    | Nov. 9, 2012, 4:54 PM | 2 Comments
  • Nov. 9, 2012, 3:19 PM

    The current iteration of QE isn't yet giving a lift to gold because it hasn't stoked the monetary base the way versions I and II did, says Deutsche Bank. Give QE3 time, says Deutsche, and bank reserves will start growing, real rates will move further into negative territory, the dollar will weaken, and the yellow metal will perk up.

    | Nov. 9, 2012, 3:19 PM | 3 Comments
  • Nov. 6, 2012, 12:40 PM
    Speculating Bernanke has taken the lead in exit polls, ZH notes gold has gone vertical in the past few minutes (chart). GLD +2%. SLV +3.1%. Oil is on the move as well, USO +2.6%.
    | Nov. 6, 2012, 12:40 PM | 29 Comments
  • Nov. 2, 2012, 2:58 PM

    Gold futures dropped more than $40/oz., in their fourth straight weekly loss, to settle at $1,675 after the nonfarm payrolls report. “With the uncertainty of the presidential election looming, gold needed a very bad employment number... to cause the Fed to ramp up its QE operations," Gold Newsletter's Brien Lundin says. Miners are lower too: ABX -2.7%, GG -4.5%, NEM -6.8%, AU -2%, AUY -4.6%.

    | Nov. 2, 2012, 2:58 PM | 23 Comments
  • Nov. 1, 2012, 12:17 PM

    Gold ETFs continued to enjoy strong inflows in October, even as the price buckled (from $1,800 to $1,700 pretty much in a straight line). The $2.5B of net inflows last month brings the 3-month total to $10B, according to BlackRock. GLD and IAU garnered the majority of the money.

    | Nov. 1, 2012, 12:17 PM | 1 Comment
  • Oct. 31, 2012, 5:12 PM

    Gold producers are climbing from 28-year lows relative to gold prices as the companies begin to tighten their operating constraints and generate more cash flow. Analysts are optimistic about upcoming reports from Barrick Gold (ABX) and Newmont Mining (NEM) after stellar quarters from Yamana Gold (AUY +8.2%), Goldcorp (GG) and Agnico-Eagle Mines (AEM).

    | Oct. 31, 2012, 5:12 PM | 6 Comments
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