Aug. 15, 2013, 1:43 PM
- Maybe it's the dive in stocks or maybe word longtime bull John Paulson has turned seller, but gold is on the move, up to $1,361 per ounce - it's highest level since the start of the summer.
- Silver is soaring and has also returned back to mid-June levels at $22.93.
- GLD +2.1%, SLV +5%.
- Related ETFs: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI, SLV, SIVR, AGQ, DBS, USV, ZSL, USLV, DSLV, SLVO.
- The miners have been moving higher for most of the summer and they're partying again, GDX +4.3% today, +35% from its late-June low. SIL +3.1% today, up 50% since late June.
- Yesterday: Klarman's a buyer.
- Related ETFs: GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING, SLVP, SILJ.
Aug. 13, 2013, 7:16 AM
- The import duty on bars of refined gold is upped to 10% from 8% and on silver to 10% from 6%, reports the FT and Reuters.
- The move follows yesterday's pledge from the finance ministry to cut the nation's current account deficit with a curb in demand for precious metals cited as a key measure.
- Demand for the metals is a headache (embarrassment?) for the government as it tries to combat a rupee which recently fell to a record low against the dollar.
- Gold is off marginally to $1,329 per ounce, with silver up a bit to $21.50.
- GLD -0.7%, SLV +0.2% premarket.
- Other gold ETFs: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI.
- Other silver ETFs: SLV, SIVR, AGQ, DBS, USV, ZSL, USLV, DSLV, SLVO.
Aug. 12, 2013, 9:28 AM
- Gold and silver mining stocks are trading higher after the SPDR Gold ETF (GLD +2.1%) logs its first increase in holdings since June: HMY +4%, EGO +3.7%, IAG +3.6%, AUY +3.4%, HL +3%, GDX +2.6%, KGC +2.5%, SLW +2.4%, ABX +2.2%, SLV +2%, GFI +2%, NEM +1.7%.
- December Comex gold +2.2% to $1,341.50/oz.
- ETFs: GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING, SIL, SILJ, SLVP.
Aug. 9, 2013, 5:17 PM
Aug. 6, 2013, 3:22 PM
- It's worse for the sliver miners than the gold miners today after Fresnillo (FNLPF.PK -5.6%) reported a 61% decline in H1 profit and investors decide 2.6x book value and a 26.4 PE ratio is too expensive with silver (SLV -0.9%) slipping below $20 per ounce.
- Fresnillo makes up 12% of the Global X Silver Miners ETF (SIL -6.3%) and 5.5% of the iShares MSCI Global Silver Miners ETF (SLVP -3.1%), but isn't a top-weighted stock in the PureFunds ISE Junior Silver ETF (SILJ -6.5%).
Aug. 5, 2013, 2:58 PM
- HSBC’s James Steel and Howard Wen predict silver’s (SLV) price, down ~35% YTD, is likely to hover at $17-$23/oz. for the remainder of 2013, thanks to the rising supply of the metal, the dampening effect of Fed policy shifts and weaker demand from ETFs.
- On the plus side for silver are higher demand in jewelry, industrial applications, coin and bar sales, and from India, but the firm thinks none of those are enough to counteract negative trends.
Jul. 31, 2013, 3:39 PM
- Down nearly 2% and flirting with falling below $1,300 per ounce, gold bounces to slightly in the green following the FOMC policy statement more concerned with slowing growth, rising interest rates, and slowing inflation than with tapering QE purchases.
- GLD -0.1%, IAU -0.2%.
- Silver reverses course as well.
- SLV +0.6%.
Jul. 25, 2013, 7:55 PM
Goldman Sachs makes the case for holding commodities as a strategic move. On Brent crude, the market should be well supplied in H2 as significant non-OPEC supply comes online and weak Chinese trade data signals relatively weak demand. Gold prices should decline to $1,050/oz. by year-end 2014 given a less accommodative Fed. Potash producers will maintain discipline and good margins despite falling crop prices.| Jul. 25, 2013, 7:55 PM | 11 Comments
Jul. 22, 2013, 7:58 AM
Gold extends its now month-long rally, climbing 1.7% and pushing above $1,300/ounce for the first time since mid-June at $1,315. Gold's move has come alongside stocks and bonds (and silver) as the Fed has trotted out a series of officials to assure the taper is not a done deal and any real tightening remains years in the future. GLD +1.7%, SLV +2% premarket.| Jul. 22, 2013, 7:58 AM | 9 Comments
Jul. 19, 2013, 4:31 PM
Jul. 11, 2013, 10:09 AMThe materials sector is a big early outperformer, showing all-around strength among steelmakers (SLX +3.4%) and gold miners (GDX +5%) after Bernanke indicated the Fed is unlikely to scale back stimulus earlier than expected. GFI +8.4%, ABX +6%, RIO +5.9%, GG +5.2%, SLW +5.1%, BHP +5.1%, MT +5%, HL +4.6%, SLV +4.8%, HL +4.8%, CLF +4.5%, NEM +3.4%, FCX +3.2%, X +2.4%. | Jul. 11, 2013, 10:09 AM | 3 Comments
Jul. 11, 2013, 8:46 AM
Jul. 11, 2013, 4:19 AMThe dollar (UDN) takes a tumble against a swathe of currencies in the wake of Ben Bernanke's comments that the U.S. economy needs a "highly accommodative monetary policy for the foreseeable future." Meanwhile, commodities rip higher. Dollar index -1.15%, EUR-USD +0.4%, GBP-USD +0.45%, USD-JPY -0.45%, AUD-USD +0.6%, USD-CAD -0.8%. Oil (OIL) +0.6%, Gold (GLD) +2.9%, Silver (SLV) +4.4%, Copper +2.9%. | Jul. 11, 2013, 4:19 AM | 8 Comments
Jul. 5, 2013, 8:49 AM
Jul. 3, 2013, 8:15 AM
Jun. 28, 2013, 4:18 PMGold (GLD, IAU) and silver SLV, PSLV) stocks finish with huge gains, as bargain hunters swoop in to buy beaten-down miner shares. KGC +9.9%. ABX +5.9%. GG +8.5%. NG +9.3%. CDE +9.6%. SLW +7.5%. PAAS +7.1%. NEM +8.1%. SA +12.9%. SBGL +6.9%. (earlier) | Jun. 28, 2013, 4:18 PM | 18 Comments
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