UBS ETRACS CMCI Gold Total Return ETN
 (UBG)

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  • Wed, Feb. 3, 5:33 PM
    | Wed, Feb. 3, 5:33 PM | 52 Comments
  • Tue, Jan. 26, 2:10 PM
    • The rush back into equities and oil today isn't dampening the bid for gold, currently higher by 1.5% to $1,122 per ounce - a level not seen since late October. The yellow metal is now ahead of nearly 6% this year.
    • An earlier report from Bloomberg showed Chinese gold imports from Hong Kong jumped 67% in December to 111.3 metric tons - the highest level in more than two years. Helping to fuel demand was a sinking stock market, depreciating currency, and the lowest gold prices in years.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GEUR, UBG, GYEN, QGLDX
    | Tue, Jan. 26, 2:10 PM | 43 Comments
  • Thu, Jan. 14, 3:05 PM
    • With equity investors getting back to the business of buying low and selling high, the interest in gold fades further. It's down 1% on the session to $1,076 per ounce.
    • The metal's actually been slipping since late last week after popping through $1,100 late on Thursday. It still remains higher by about 1.5% in 2016.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GEUR, UBG, GYEN, QGLDX
    | Thu, Jan. 14, 3:05 PM | 20 Comments
  • Thu, Jan. 7, 2:15 PM
    • In check for most of the day, gold has surged above $1,100 per ounce for the first time in two months as the major U.S. averages dip to new session lows - the S&P 500 down 2.3% and Nasdaq off 2.9%.
    • Gold is up 1.5% to $1,109 per ounce.
    • The Fed's still talking a hawkish game, but the PBOC guided the yen down the most since last August's devaluation, and the Bank of Canada is making rumblings about north-of-the-border style QE.
    • The World Gold Council: “The effect that U.S. rates have had on the gold price is overdone and may take a back seat this year. Four years after gold’s nominal high, amid expensive stock valuations and high market risks, gold’s role as a portfolio diversifer and tail risk hedge is particular(y) relevant.”
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GEUR, UBG, GYEN, QGLDX
    | Thu, Jan. 7, 2:15 PM | 11 Comments
  • Mon, Jan. 4, 7:27 AM
    | Mon, Jan. 4, 7:27 AM | 16 Comments
  • Dec. 31, 2015, 3:08 AM
    • Gold's image as a safe haven asset is getting even more tarnished as the metal heads for its third-straight annual loss and its longest slump since 2000.
    • It's down 10% this year following a 1.4% drop in 2014 and a 28% loss in 2013.
    • The decline comes as the dollar continues to surge on the back of monetary policy tightening in the U.S and a collapse in commodities prices from iron ore to oil.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GEUR, UBG, GYEN, QGLDX
    | Dec. 31, 2015, 3:08 AM | 19 Comments
  • Dec. 28, 2015, 12:57 PM
    • Much like oil/gas firms (hurt by fresh oil price declines), coal, gold, and silver miners are having a rough day. End-of-year tax and fund selling could be playing a role. Comex gold is down a moderate 0.6%, and Comex silver down 3.2%. The S&P is down 0.5%.
    • Notable coal decliners: Peabody Energy (BTU -13.6%), Westmoreland Coal (WLB -6.4%), CONSOL Energy (CNX -9%), and Cloud Peak Energy (CLD -4%).
    • Notable gold decliners: Goldcorp (GG -3.5%), Barrick Gold (ABX -3.1%), Newmont Mining (NEM -4%), Kinross Gold (KGC -3.8%), Gold Fields (GFI -6.7%), AngloGold Ashanti (AU -5%), Harmony Gold (HMY -6.5%), and Sibanye Gold (SBGL -4.2%).
    • Notable silver decliners: Silver Wheaton (SLW -3.8%), Pan American Silver (PAAS -3.6%), First Majestic Silver (AG -6.9%), Tahoe Resources (TAHO -4.9%), and Coeur Mining (CDE -5.8%).
    • ETFs: GLD, SLV, IAU, AGQ, PSLV, PHYS, USLV, SIVR, SGOL, ZSL, UGL, DGP, GTU, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, OUNZ, DGL, DBS, DGZ, DGLD, USV, GEUR, UBG, GYEN, TONS, QGLDX
    | Dec. 28, 2015, 12:57 PM | 36 Comments
  • Dec. 17, 2015, 2:48 PM
    • With today's 2.4% decline, gold has given up about $25 per ounce since the Fed boosted interest rates by 25 basis points yesterday.
    • At $1,051 per ounce, the metal is cents above the multi-year lows it hit earlier this month. Slumping alongside is silver (NYSEARCA:SLV), down 3.7% to $13.73
    • The GLD hit a new 52-week low of $100.24 today, and is currently down 2.1% to $100.63.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GEUR, UBG, GYEN, QGLDX
    | Dec. 17, 2015, 2:48 PM | 62 Comments
  • Dec. 4, 2015, 12:12 PM
    • The news is commodity bearish today - a solid employment report assures a rate hike this month and OPEC will continue to run strong production into a glutted market.
    • Gold, however, is enjoying a bounce after falling in a near straight line for the last six weeks. The metal touched as low at $1,050 yesterday when new ECB stimulus measures disappointed. A 2.4% rise in today's session has gold back up to $1,087 per ounce.
    • GLD +2.2%
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GEUR, UBG, GYEN, QGLDX
    | Dec. 4, 2015, 12:12 PM | 52 Comments
  • Dec. 1, 2015, 3:17 PM
    • Unsurprisingly, bearish short positions in gold jumped higher alongside the metal's 6.8% decline in November - that decline being the worst monthly performance for gold since an 11.1% plunge in June 2013.
    • Being short is a crowded trade for sure, but head derivatives strategist at Macro Advisors Pravit Chintawongvanich reminds the shorts loaded up in early 2013 ahead gold's subsequent 25% collapse.
    • Plotting a chart of shorts vs. the price of gold shows shorts are often right, even when many are crowded into the trade.
    • Gold is starting off December (barely) in the green, up 0.25% to $1,068 per ounce.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GEUR, UBG, GYEN, QGLDX
    | Dec. 1, 2015, 3:17 PM | 32 Comments
  • Nov. 27, 2015, 2:15 PM
    | Nov. 27, 2015, 2:15 PM | 144 Comments
  • Nov. 27, 2015, 5:29 AM
    • Gold is hovering close to its lowest level in nearly six years, weakened by strength in the dollar, expectations of a U.S. rate hike next month and news of lower gold imports into China.
    • If the decline holds, the yellow metal will record its sixth consecutive week of losses, the longest such streak since August.
    • Bullion for immediate delivery -0.6% at $1,063.30.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GEUR, UBG, GYEN, QGLDX
    | Nov. 27, 2015, 5:29 AM | 19 Comments
  • Nov. 23, 2015, 5:28 AM
    • Crude continued to drop further on Monday, as part of a wider decline in commodity prices and renewed concerns of oversupply with OPEC likely to ramp up output at its next meeting on Dec. 4.
    • "Oil prices may drop to as low as the mid-$20s a barrel unless OPEC takes action to stabilize the market," Venezuelan Oil Minister Eulogio Del Pino declared.
    • The slump is also heavily biting into industrial and precious metals: Copper is now below $4,500 a metric ton for the first time since 2009, nickel lost more than 5% to its lowest level since 2003, zinc is down 4.2%, and gold is 0.7% lower at $1069 an ounce.
    • Crude futures -3% to $40.63/bbl.
    • ETFs: GLD, USO, OIL, IAU, UCO, PHYS, UWTI, SCO, SGOL, BNO, DBO, UGL, DWTI, DGP, GTU, GLL, JJC, DTO, UGLD, DZZ, USL, GLDI, COPX, OUNZ, CU, DGL, DNO, DGZ, DGLD, AGOL, JJN, OLO, SZO, GEUR, CPER, UBG, GYEN, OLEM, NINI, CUPM, QGLDX
    | Nov. 23, 2015, 5:28 AM | 33 Comments
  • Nov. 20, 2015, 10:41 AM
    • A Fed interest rate hike in December could knock back the price of gold to ~$1,000/oz., Gold Fields (GFI -3.1%) CEO Nick Holland tells Creamer Media after the company's share price soared 29% in Johannesburg for its best single day of trading since 1999.
    • The uncertainty around a rate increase has played havoc with the gold price in recent weeks, but Holland says long-term fundamentals for gold remain positive, based on projections of inadequate supply; “It doesn’t matter what we do now as an industry, a supply fall-off is inevitable," the CEO says.
    • "Is it three years of pain, four years, five years? We don’t know, but we’re in a long-term business and we can’t take decisions for one year,” Holland said after GFI reported improved Q3 earnings and higher net cash flow to cut net debt to 1.4x EBITDA.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, OUNZ, DGL, DGZ, DGLD, AGOL, UBG
    | Nov. 20, 2015, 10:41 AM | 21 Comments
  • Nov. 17, 2015, 12:24 PM
    • With equity investors back to the business of buying low and selling high, the Fed prepped for a rate hike, and dollar strength continuing, the gold bid is disappearing.
    • 1.5% decline today to $1,066 per ounce has brought the yellow metal to its lowest level in six years. GLD -1.4%
    • Gold is lower by 18% since an early 2015 rally took it all the way past $1,300 per ounce.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, AGOL, GEUR, UBG, GYEN, QGLDX
    | Nov. 17, 2015, 12:24 PM | 32 Comments
  • Nov. 16, 2015, 9:52 AM
    • The month isn't over yet, and outflows from precious metals ETFS have already topped $1B, according to Bloomberg. The funds haven't seen net outflows for a full month since July (when they lost $1.6B). Net inflows from August to September were a relative trickle.
    • Unsurprisingly, the outflows have occurred amid a promise of tighter monetary policy, a stronger dollar, and a sizable decline in the price of gold.
    • It's not just the yellow metal: Platinum futures are down for 12 straight sessions - their longest losing streak since 2002. Palladium prices fell 12% last week, the largest weekly decline in four years. Sliver has been in the red for four straight weeks.
    • ETFs: AGQ, USLV, PALL, PPLT, ZSL, UGL, DGP, GLL, UGLD, DZZ, DSLV, DGL, DBS, DGZ, PTM, DGLD, DBP, PGM, USV, JJP, UBG, BLNG
    | Nov. 16, 2015, 9:52 AM | 3 Comments
UBG Description
UBS ETRACS CMCI Gold Total Return is designed to track the performance of the UBS Bloomberg CMCI Gold Total Return, less investor fees. The CMCI Gold TR measures the collateralized returns from a basket of gold futures contracts. The commodity futures contracts are diversified across five constant maturities from three months up to three years.
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