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Feb. 28, 2014, 4:29 PM
Feb. 25, 2014, 2:58 PM
- Pan American Silver (PAAS -1.9%) is downgraded to Sell from Neutral with a $10 price target at Goldman Sachs, which forecasts silver at $21.80/oz. from 2015 onwards, driven by a lack of supply-side response.
- While PAAS has a strong balance sheet, the revised silver price deck suggests the company's ability to generate free cash flow is limited, the firm says.
- ETFs: SLV, AGQ, SIVR, USLV, ZSL, DSLV, DBS, SLVO, USV.
Feb. 14, 2014, 9:10 AM
- "We continue to expect further gains over the course of 2014, helped by strong demand from China and an eventual easing of the import ban in India," says Capital Economics' Julian Jessop. "In the meantime, safe-haven demand for gold has revived a little as a result of the turmoil in emerging markets.”
- Up 1.2% to $1,315 per ounce, gold is ahead more than 4% on the week and over 9% YTD. The metal has also crossed its 200-day moving average, which could force technical buying, writes the team at Commerzbank.
- The $1,200 level is one of strong support, says Jessop, noting it's where gold stabilized during its bear market last year and it's at that price where a significant number of gold mines become unprofitable. He continues to forecast a price of $1,450 for year-end.
- Also having a big day is silver, up 3.4% to $21.08.
- GLD +1.1%, SLV +2.9% premarket
- ETFs: GLD, SLV, AGQ, IAU, PHYS, SIVR, USLV, ZSL, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, DSLV, DBS, DGZ, AGOL, GLDI, DGLD, SLVO, TBAR, USV, UBG, GLDE, GYEN, GEUR, GGBP
Feb. 7, 2014, 4:42 PM
Feb. 3, 2014, 10:26 AM
- Gold is up 1.8% to $1,262 per ounce and silver 1.9% to $19.49 following the big miss in the ISM report as traders contemplate maybe a slowdown in the taper, and some bulls dream about a QE4. Up 1.5% at the moment the Gold Miners ETF is ahead 12.9% YTD.
- The 10-year Treasury yield is off 3 basis points to 2.62% and the December 2016 Eurodollar contract is up 9 basis points to 97.99 - suggesting a slower pace of rate hikes, but still pricing in a Fed Funds rate 175 basis points higher than it is today.
- Gold and sliver-related ETFs: GLD, SLV, GDX, GDXJ, NUGT, IAU, AGQ, PHYS, DUST, SIL, SIVR, USLV, ZSL, SGOL, UGL, DGP, GLL, GLDX, DZZ, UGLD, DGL, DSLV, DBS, SLVP, GLTR, DGZ, AGOL, JNUG, DBP, DGLD, GLDI, RING, GGGG, SLVO, WITE, SILJ, PSAU, JDST, TBAR, USV, UBG, JJP, RGRP, BLNG
Jan. 31, 2014, 4:33 PM
Jan. 29, 2014, 9:49 AM
- As equities open in a broad-based decline, precious metals miners show early strength: ABX +4.1%, NG +4.1%, EXK +3.7%, GG +3.7%, IAG +3.3%, SA +2.9%, AG +2.8%, SSRI +3.1%, AUY +2.7%, GOLD +2.5%, NEM +2.3%, MVG +2.3%, SLW +2.2%, PAAS +2.2%, AU +2.1%, KGC +2.2% (Briefing.com).
- ETFs: GLD, SLV, GDX, GDXJ, NUGT, IAU, AGQ, PHYS, DUST, SIL, SIVR, USLV, ZSL, SGOL, UGL, DGP, GLL, GLDX, DZZ, UGLD, DGL, DSLV, DBS, SLVP, GLTR, DGZ, AGOL, DBP, JNUG, DGLD, GLDI, RING, GGGG, SLVO, WITE, SILJ, PSAU, TBAR, JDST, USV, UBG, JJP, RGRP, BLNG.
Jan. 21, 2014, 9:17 AM
- Precious metals are having their worst session of the year, with news of a boosted pace of QE taper on tap as good of an excuse as any to sell.
- Gold is off 1.2% to $1,237 per ounce, and silver is down 2.7% to $19.76.
- GLD -1.3%, SLV -2.5% premarket
- PM ETFs: GLD, SLV, IAU, AGQ, PHYS, SIVR, USLV, ZSL, SGOL, UGL, DGP, GLL, DZZ, UGLD, DSLV, DGL, DBS, DGZ, AGOL, DGLD, GLDI, SLVO, TBAR, USV, UBG
Jan. 10, 2014, 8:58 AM
- Commodities have their tails in the air following the slow payroll number, with gold up 1% to 1,240 per ounce, silver up 2.2% to $20.80, copper gaining 1.2%, and crude oil ahead 1.7% to $93.21.
- With this morning's gain, gold is up more than 3% on the year.
- Related ETFs: GLD, SLV, USO, IAU, AGQ, OIL, PHYS, UCO, SIVR, USLV, ZSL, SGOL, UGL, DGP, SCO, GLL, JJC, DZZ, DBO, DTO, UGLD, DGL, DSLV, DBS, CRUD, DGZ, AGOL, GLDI, DGLD, USL, SLVO, DNO, TBAR, SZO, UWTI, USV, OILZ, UBG, CPER, DWTI, OLO, CUPM, OLEM, TWTI
Jan. 2, 2014, 3:17 PM
- Gold is having its biggest day in three weeks, up 1.8% to $1,224 per ounce, and silver is higher by 3.3%, with optimism about boosted demand from Asia as good of an excuse as any for the rally.
- Chatter from India about the rate hike cycle not just being over, but about to go into reverse is helping, as is a New Year's Eve move by the RBI to loosen control over gold imports.
- GLD +1.7%, SLV +3.1%
- The miners get off on the right foot in 2014 as well: GDX +3.8%, SIL +3.3%.
- Related ETFs: GLD, SLV, IAU, AGQ, PHYS, SIVR, PPLT, USLV, PALL, ZSL, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, DBS, DSLV, DGZ, PTM, AGOL, GLDI, DGLD, SLVO, PGM, TBAR, USV, UBG, GDX, GDXJ, NUGT, DUST, SIL, GLDX, SLVP, GGGG, RING, SILJ, JNUG, PSAU, JDST
Dec. 27, 2013, 4:23 PM
Dec. 26, 2013, 5:37 PM
Dec. 19, 2013, 9:11 AM
- Seems the Fed taper wasn't priced in to gold prices after all, as spot gold tumbles briefly below $1,200/oz. to six-month lows, and the leading gold miners ETF (GDX) slides to new 52-week lows.
- A few minutes ago, gold (GLD) -2.6% to $1,202.80/oz., silver (SLV) -4.2% to $19.20.
- The taper is "another sign of increasing normalization for the world economy," Macquarie analyst Matthew Turner says. "Gold's insurance function is less desirable in that environment."
- Commerzbank’s commodity strategists argue the selling is overdone: "The fact that money will remain extremely 'cheap' for a long time yet should in fact have lent support to the gold price rather than it coming under pressure" due to the impending end to QE.
- Precious metals ETFs: IAU, AGQ, PHYS, SIVR, USLV, ZSL, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, DBS, DSLV, DGZ, AGOL, GLDI, DGLD, SLVO, TBAR, USV, UBG.
- Miner ETFs: GDXJ, NUGT, DUST, SIL, GLDX, SLVP, GGGG, RING, SILJ, PSAU, JNUG, JDST.
Dec. 19, 2013, 7:07 AM
- The morning after: Stock index futures are about flat after yesterday's post Fed, post-taper initiation moonshot.
- Europe's ahead around 1.5% and the Nikkei gained 1.7% overnight, though Shanghai and Hong Kong each fell about 1%.
- The 10-year Treasury yield remains near its highest level of the year at 2.9%, and precious metals - which fell following the Fed announcement - accelerate that decline. Gold is off 2.4% to $1,205 per ounce. Silver - 3.7% to $19.33.
- Index ETFs: SPY, QQQ, IVE, SH, DIA, SSO, SDS, PSQ, IVV, SPXU, UPRO, VOO, QID, TQQQ, DOG, RSP, SQQQ, DXD, QLD, RWL, EPS, UDOW, SDOW, IVW, DDM, SPYG, RPG, SPYV, BXUB, RPV, VOOG, QQEW, QQQE, TRND, VOOV, SFLA, BXUC, QQXT, FTA, BXDB, TNDQ
- PM ETFs: GLD, SLV, IAU, AGQ, PHYS, SIVR, PPLT, PALL, USLV, ZSL, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, DBS, DSLV, GLTR, DGZ, PTM, AGOL, DBP, GLDI, DGLD, WITE, SLVO, PGM, TBAR, USV, JJP, UBG, RGRP, LPLT, BLNG, IPLT
Dec. 12, 2013, 3:19 PM
- I'd rather buy silver (SLV -3.8%) says Jim Rogers, when asked to choose between precious metals. Gold (GLD -2.1%), he says, is off about 30-35% from its highs while silver is down more like 60%. Rogers is an owner of both, but not adding just yet, and while he's hedged his gold holdings, he hasn't done so for silver because it's already down so far.
- "If it goes down more, I hope I'm smart enough to buy."
- PM ETFs: GLD, SLV, IAU, AGQ, PHYS, SIVR, USLV, ZSL, SGOL, UGL, DGP, GLL, DZZ, UGLD, DBS, DGL, DSLV, DGZ, AGOL, GLDI, DGLD, SLVO, TBAR, USV, UBG
Dec. 6, 2013, 8:40 AM
- The 10-year Treasury yield jumps to 2.92% following the jobs numbers beat and the far bigger-than-expected dip in the unemployment rate to just 7%. The government shutdown apparently affected this month's speed of decline in the UE rate, but not the level - i.e., it would be at 7% no matter the shutdown, but the furlough and then return of workers caused all of the decline to occur in the November report.
- Stock index futures remain about where they were, the S&P 500 (SPY) +0.5%.
- Gold (GLD) is off 1.25% to $1,216 per ounce and the dollar jumps, with UUP +0.5% premarket.
- Treasury ETFs: TBT, TLT, TMV, IEF, TBF, PST, EDV, TTT, TMF, TLH, ZROZ, SBND, IEI, DLBS, TYO, DTYS, VGLT, UST, UBT, TLO, TBX, VGIT, GSY, LBND, DTYL, SCHR, TYD, ITE, TYBS, TENZ, FIVZ, TBZ, DFVL, DLBL, DFVS, TYNS
- PM ETFs: GLD, SLV, IAU, AGQ, PHYS, SIVR, PPLT, PALL, USLV, ZSL, SGOL, UGL, DGP, GLL, DZZ, UGLD, DBS, DGL, DSLV, GLTR, DGZ, PTM, AGOL, DBP, GLDI, DGLD, WITE, SLVO, PGM, TBAR, USV, JJP, UBG, RGRP, LPLT, BLNG, IPLT
- Dollar: UDN, UUPT, UDNT
The objective of the iShares Silver Trust is for the value of the shares of the iShares Silver Trust to reflect, at any given time, the price of silver owned by the iShares Silver Trust at that time, less the iShares Silver Trust's expenses and liabilities.
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