iShares Gold Trust ETF (IAU) - NYSEARCA
  • Mon, May 23, 8:30 AM
    • You would have to go back to September 2009 to find gold in three digits, but the team at Citi sees no reason the metal won't head back there if the dollar index (currently at 95.3) rises above the 100-level.
    • They take note of a chart showing a pretty strong inverse relationship between the dollar and gold, and another chart showing the dollar's long-term momentum upward.
    • A boost to gold in the past, they note, is the market's inability on two other recent occasions to push the dollar through that 100 level. Both times - March 2015 and January 2016 - 100 failed, and gold rallied.
    • Gold's lower by 0.3% this morning to $1,249 per ounce.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX
    | Mon, May 23, 8:30 AM | 37 Comments
  • Thu, May 19, 8:23 AM
    | Thu, May 19, 8:23 AM | 45 Comments
  • Wed, May 18, 2:18 PM
    • Minutes from the FOMC's April 26-27 meeting surprised markets, with "most" on the committee expecting the Fed's next rate hike to come in June.
    • Yields, especially at the short end, are spiking, and Fed Funds futures now see about a one-in-three chance of a June move (up from about 1-in-20 at the start of the week).
    • The dollar (UUP, UDN) has moved sizably higher since the news, now up 0.4% on the session. Gold (NYSEARCA:GLD), meanwhile, has added to losses, now down 0.8% to $1,267 per ounce.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX
    | Wed, May 18, 2:18 PM | 26 Comments
  • Thu, May 12, 8:53 AM
    • Gold demand in Q1 of 1,289.8 metric tons was up 21% Y/Y, according to the World Gold Council. It's the 2nd-highest quarterly level in data going back to 2000.
    • The surge occurred even as jewelry buying tumbled 19%, amid a strike by Indian jewelers, and higher prices sapping consumer demand. ETP holdings, however, jumped by 300.7 tons v. just 22.8 tons a year ago.
    • Central banks continue to be net buyers, adding 109.4 tons, 3% less than the year-ago level.
    • Gold is lower by 0.25% to $1,272 per ounce today.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX
    | Thu, May 12, 8:53 AM
  • Wed, May 11, 7:32 AM
    • "Investors have increasingly started processing the fact that the world’s central bankers are completely focused on debasing their currencies," says Singer in a late-April letter to clients. "We believe the March quarter’s price action could represent something closer to the beginning of such a move than to the end.”
    • Singer's views are at odds with Goldman, where the bank in general has a more bullish view on the economy, and, in particular expects more hawkish action from the Fed than what markets currently believe. Goldman sees gold at $1,200 per ounce in three months, $1,180 in six, and $1,150 in a year (current price is $1,277).
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX
    | Wed, May 11, 7:32 AM | 19 Comments
  • Mon, May 9, 3:28 PM
    • Threatening $1,300 per ounce in the wake of last week's employment report, gold has pulled all the way back to $1,266, now off 2.2% on the session.
    • Bulls on the metal would like to believe the move down is technical in nature as gold had moved from $1,230 to nearly $1,300 over just a handful of sessions.
    • Bears will note that gold was unable to sustain gains despite the bullish news from the employment report, and the reaction in short-term rate markets: Fed Funds futures continue to rally, shaving the odds of a rate hike in June to about zero, and the chance of even one Fed move this year to only a hair over 50%.
    • GLD -1.9%
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX
    | Mon, May 9, 3:28 PM | 31 Comments
  • Sat, May 7, 5:06 PM
    • Barron's "ETF Roundtable" features David Cleary of Lazard, Fritz Folts of 3EDGE Asset Management, John Forlines III of JAForlines Global, and Will McGough from Stadion Money Management.
    • ETFs they like include:
    • Gold: iShares Gold Trust (NYSEARCA:IAU) "has a lower expense ratio (0.25%) than (NYSEARCA:GLD)," VanEck Vectors Gold Miners (NYSEARCA:GDX), and GLD.
    • iShares Global Materials (NYSEARCA:MXI).
    • Emerging markets: iShares Core MSCI Emerging Markets (NYSEARCA:IEMG), SPDR MSCI Emerging Markets Quality Mix (NYSEARCA:QEMM),  iShares MSCI Brazil Capped (NYSEARCA:EWZ), EGShares India Infrastructure (NYSEARCA:INXX) "We like India in general as a long-term option," iShares Latin America 40 (NYSEARCA:ILF) "We're starting to see governance improvements in Latin America broadly,"  iShares J.P. Morgan USD Emerging Markets Bond (NYSEARCA:EMB).
    • Emerging-market proxies: iShares MSCI Canada (NYSEARCA:EWC) and iShares MSCI Australia (NYSEARCA:EWA).
    • iShares Core High Dividend ETF (NYSEARCA:HDV). iShares MSCI USA Minimum Volatility (NYSEARCA:USMV) "Now there's more uncertainty, and that's when these low-vol strategies do best."
    • iShares North American Tech (NYSEARCA:IGM) and iShares U.S. Consumer Services (NYSEARCA:IYC), "We still like consumer services and technology."
    • PowerShares QQQ (NASDAQ:QQQ), Vanguard Small Cap Value (NYSEARCA:VBR), "Blending the two doesn't tilt the portfolio too much in one direction or the other, because the combination blends small and large, growth and value."
    • SPDR Barclays High Yield Bond ETF (NYSEARCA:JNK), PowerShares Fundamental High Yield Corporate Bond Portfolio (NYSEARCA:PHB).
    • VanEck Vectors Fallen Angel High Yield Bond (NYSEARCA:ANGL), "These are viable companies, and although they've moved from investment- grade to high-yield, they're likely survivors."
    • "We like preferreds, via the iShares U.S. Preferred Stock (NYSEARCA:PFF)." Also: iShares International High Yield Bond ETF (BATS:HYXU).
    • iShares MSCI Europe Small-Cap (NASDAQ:IEUS).
    | Sat, May 7, 5:06 PM | 15 Comments
  • Fri, May 6, 8:53 AM
    | Fri, May 6, 8:53 AM | 12 Comments
  • Mon, May 2, 6:25 AM
    • The weak dollar is sending gold above $1,300 an ounce for the first time since January 2015, as prices advance 23% YTD, rebounding from three straight annual declines.
    • Investors have flooded back to the yellow metal as risks to the global economy prompt the Fed to take a slower approach to further interest-rate increases.
    • Gold +1% to $1302.80 an ounce.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX
    | Mon, May 2, 6:25 AM | 18 Comments
  • Fri, Apr. 29, 11:34 AM
    • A board selloff in the greenback (UUP -0.7%) has gold (GLD +2%) eyeing $1,300 per ounce for the first time since early 2015. Gold is currently up 2.5% to $1,298.
    • There was modest disappointment in some 2nd-tier economic reports this morning, but other than that no clear reason for the dollar decline. Particularly strong are the euro (FXE +0.9%), Swiss franc (FXF +0.8%), and yen (FXY +1.1%). The commodity currencies (FXC +0.1%), (FXA -0.1%) aren't doing a whole lot even as oil takes out $46 per barrel.
    • ETFs: GLD, IAU, UUP, PHYS, SGOL, UGL, UDN, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, USDU, GYEN, GEUR, UBG, QGLDX
    | Fri, Apr. 29, 11:34 AM | 42 Comments
  • Tue, Apr. 19, 12:50 PM
    • That's the conclusion of a study titled, "A Golden Dilemma," conducted by a finance professor and former commodities portfolio manager.
    • The average gold-to-CPI ratio since the early 1970s is 3.46:1, they say, and that ratio at the moment would mean a gold price of just $824 per ounce. Inflation would have to rise to 9.4% over the next five years for gold's fair value to just rise to where the metal currently trades.
    • The researchers remind that this is a fair value gauge, not necessarily a short-term forecasting tool, and note gold over the past five decades has traded at as low of a ratio to CPI as 1.5x and as high as 8.7x.
    • Gold today is higher by 1.7% to $1,256 per ounce.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX
    • Now read: Negative Rates May Be Positive For Gold (April 19)
    | Tue, Apr. 19, 12:50 PM | 46 Comments
  • Wed, Apr. 6, 11:08 AM
    | Wed, Apr. 6, 11:08 AM | 118 Comments
  • Thu, Mar. 31, 1:38 PM
    | Thu, Mar. 31, 1:38 PM | 39 Comments
  • Wed, Mar. 23, 3:44 PM
    • The Fed last week may have slashed its expectation for rate hikes this year by 50 basis points, but public comments since have taken on a more hawkish tone. The latest was this morning, with St. Louis Fed boss Jim Bullard suggesting April could work for the next boost in interest rates.
    • The dollar (UUP +0.5%) continues its move higher, and gold (GLD -2.3%) its move lower, with the metal at the $1,220 per ounce level for the first time since late February.
    • Also struggling is crude oil (USO -4.1%), which earlier was hit with news of a sizable jump in inventories.
    • ETFs: GLD, IAU, UUP, PHYS, SGOL, UDN, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, USDU, GEUR, GYEN, UBG, QGLDX
    | Wed, Mar. 23, 3:44 PM | 54 Comments
  • Fri, Mar. 18, 9:11 AM
    | Fri, Mar. 18, 9:11 AM | 22 Comments
  • Mon, Mar. 14, 1:08 PM
    • While BlackRock made news earlier this month when it had to temporarily suspend creations of its $7.5B iShares Gold Trust (NYSEARCA:IAU), the fund manager was quickly building its stake in competitor State Street's $32B SPDR Gold Trust (NYSEARCA:GLD).
    • At last check it owns (through its mutual funds and other investment products) 13% of GLD worth about $4B - that's up from just about a 5% stake a month earlier.
    • The IAU charges a 0.25% fee vs. the GLD's 0.4%, but GLD is about 4x larger by assets.
    | Mon, Mar. 14, 1:08 PM | 16 Comments
IAU Description
The iShares Gold Trust ("Gold Trust") seeks to correspond generally, to the day-to-day movement of the price of gold bullion. The objective of the Gold Trust is for the value to reflect, at any given time, the price of gold owned by the Gold Trust at that time, less the expenses and liabilities of the Gold Trust.
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