UBS ETRACS CMCI Gold Total Return ETN
 (UBG)

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  • Aug. 28, 2015, 11:00 AM
    • Slightly in the red for most of the morning following yesterday's melt-up, crude oil has turned sharply higher again in the past few minutes, now up 3.75% to $44.16 per barrel. Black gold had traded south of $38 during Monday's panic.
    • Asleep for most of the week as the markets tossed and turned, gold has moved higher by 1.15% to $1,135.50 per ounce.
    • There's no particular news out, but an appearance on CNBC by leading Fed dove Kocherlakota (not a FOMC voter this year) makes for a good excuse. Given the weakening inflation numbers, the Minneapolis Fed boss said a near-term rate hike would not be appropriate. More interesting, he's not against consideration of QE4, and says the Fed still has asset-purchase tools.
    • ETFs: GLD, USO, OIL, IAU, UCO, PHYS, UWTI, SCO, SGOL, BNO, DBO, UGL, DWTI, DGP, GTU, GLL, DTO, UGA, UGLD, DZZ, USL, GLDI, OUNZ, DGL, DNO, DGZ, DGLD, AGOL, UHN, OLO, SZO, GEUR, UBG, GYEN, OLEM, QGLDX
    | Aug. 28, 2015, 11:00 AM | 84 Comments
  • Aug. 26, 2015, 9:02 AM
    • Europe has turned green after being down more than 2% earlier, and U.S. stock index futures are now ahead by about 2.5%.
    • Beijing overnight pumped more money into propping up China's markets and economy, and the ECB this morning hinted at a QE boost.
    • After putting in only a modest rally amid the market panic of the last three sessions, gold is lower by 1.2% on today's session, and back to $1,125 per ounce.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, AGOL, GEUR, UBG, GYEN, QGLDX
    | Aug. 26, 2015, 9:02 AM | 10 Comments
  • Aug. 24, 2015, 8:28 AM
    | Aug. 24, 2015, 8:28 AM | 14 Comments
  • Aug. 21, 2015, 3:37 PM
    • Gold had caught a bit of a bid over the past couple of weeks thanks to likely oversold conditions combining with macro jitters, but with the panicky action in equities worsening into today's close the yellow metal is seeing little interest, up $6 per ounce to $1,159.
    • The S&P 500 is down 2.95% and the Nasdaq 3.35%.
    • Silver is lower on the session by 1.7% to $15.26 per ounce.
    • 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, AGOL, USV, GEUR, UBG, GYEN, QGLDX
    | Aug. 21, 2015, 3:37 PM | 44 Comments
  • Aug. 20, 2015, 11:17 AM
    | Aug. 20, 2015, 11:17 AM | 24 Comments
  • Aug. 19, 2015, 7:35 AM
    • Venezuela is a case in point, say Citi analysts David Wilson and Aakash Doshi. The country gets more than 95% of its export revenue from oil, so the price collapse of crude could mean difficulties in making debt payments.
    • Venezuela had 11.6M troy ounces of gold as of about one year ago, according to the IMF, roughly 68% of the country's reserves, says Citi.
    • Most of Venezuela's gold, however, is located in Caracas thanks to then-President Hugo Chavez's order a few years ago to repatriate all of the metal held overseas. "No bank is going to take collateral for gold that's actually held in Caracas," says Aberdeen Asset Management's Edwin Gutierrez. In his opinion, there's a chance Venezuela could be desperate enough to sell, but not so much for other central banks.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, AGOL, GEUR, UBG, GYEN, QGLDX
    | Aug. 19, 2015, 7:35 AM | 16 Comments
  • Aug. 13, 2015, 2:28 AM
    • Demand for gold fell to its lowest in six years in the second quarter, in a further sign the world's largest buyers, China and India, are staying away from the precious metal.
    • According to the World Gold Council, overall demand totaled 915 tonnes, a 12% drop from the same period last year.
    • Prices saw further declines due to a strong U.S. dollar and expectations for a Fed rate increase, failing to draw any direction from the uncertainty in Greece and other financial crises.
    • Gold -0.2% to $1121.50 an ounce, after trading between $1200-$1230 during most of Q2.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, AGOL, GEUR, UBG, GYEN, QGLDX
    | Aug. 13, 2015, 2:28 AM | 34 Comments
  • Jul. 31, 2015, 7:03 AM
    | Jul. 31, 2015, 7:03 AM | 70 Comments
  • Jul. 24, 2015, 4:29 PM
    • For the first time since the data began being collected in 2006, hedge fund and other sizable speculator types went net short the yellow metal in the week ended July 21, according to the CFTC, reporting a cumulative net-short position of 11,345 futures contracts.
    • Gold put in another fresh five-year low today before bouncing to close modestly higher, but has been in the red nearly every day this month.
    • Earlier this week, Goldman's Jeffrey Currie says more pain is ahead for gold, and sees the price soon slipping below $1K per ounce (it closed today at $1,098).
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, AGOL, GEUR, UBG, GYEN, QGLDX
    | Jul. 24, 2015, 4:29 PM | 36 Comments
  • Jul. 24, 2015, 3:29 AM
    • Gold continued its slide on Friday, on course for its biggest weekly loss in nine months, as a breach of key support levels pushed more sellers to cut their exposure.
    • Spot gold fell as much as 1.2% to $1,077 an ounce, bringing its losses this week to more than 4%.
    • Copper is also feeling the burn amid a rout in commodities and mining stocks. The red metal extended its slide to the lowest price since 2009, heading for a 4.6% drop this week.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, JJC, UGLD, DZZ, GLDI, COPX, OUNZ, CU, DGL, DGZ, DGLD, AGOL, GEUR, CPER, UBG, GYEN, CUPM, QGLDX
    | Jul. 24, 2015, 3:29 AM | 19 Comments
  • Jul. 22, 2015, 4:39 AM
    • Commodities are taking another beating, as anticipation of a Fed rate hike and the dollar's strength, as well as soft global growth and a supply glut weigh on demand for raw materials.
    • Gold fell on Wednesday for a seventh session in eight, reflecting sustained downward pressure on the metal days after its steepest drop in almost two years. Gold -1% to 1092.80 an ounce.
    • Crude futures are also heading south, amid speculation weekly supply data due later in the session will show U.S. inventories rose unexpectedly last week. Crude futures -1.4% to 50.17/bbl.
    • ETFs: GLD, USO, OIL, IAU, UCO, PHYS, UWTI, SCO, SGOL, BNO, DBO, UGL, DWTI, DGP, GTU, GLL, DTO, UGLD, DZZ, USL, GLDI, OUNZ, DGL, DNO, DGZ, DGLD, AGOL, OLO, SZO, GEUR, UBG, GYEN, OLEM, QGLDX
    | Jul. 22, 2015, 4:39 AM | 35 Comments
  • Jul. 21, 2015, 3:06 AM
    | Jul. 21, 2015, 3:06 AM | 18 Comments
  • Jul. 20, 2015, 2:34 AM
    • Gold prices continued falling today, hitting a more than five-year low early in the session, amid growing expectations for a U.S. interest rate increase that has boosted the dollar.
    • Over the weekend, China also disclosed an update on its gold reserves for the first time since 2009 that was far lower than analysts expected.
    • After plunging 4.2% to $1,086.18 an ounce, bullion for immediate delivery is now trading down 2.3% at $1106.40.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, AGOL, GEUR, UBG, GYEN, QGLDX
    | Jul. 20, 2015, 2:34 AM | 12 Comments
  • Jul. 17, 2015, 10:41 AM
    • Macro jitters from Greece and China never did much to boost the price of gold this summer, and with at least Greece out of the way and China (for the moment) stabilized, the yellow metal has resumed its bear run.
    • A roughly 1% move lower in the past two hours has brought gold down to $1,130 per ounce - its lowest price in five years, and off about 13% since hitting its 2015 high six months ago.
    • GLD -1.2%
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, AGOL, GEUR, UBG, GYEN, QGLDX
    | Jul. 17, 2015, 10:41 AM | 54 Comments
  • Jul. 7, 2015, 10:29 AM
    | Jul. 7, 2015, 10:29 AM | 25 Comments
  • Apr. 30, 2015, 11:18 AM
    • A big move higher in April has the 10-year Treasury yield all the way up to 2.10%, and the FOMC - dismissive of Q1's stall in economic growth - seems undeterred in its move toward rate hikes.
    • Add in fresh selling catalysts today - initial jobless claims falling to a 15-year low and the Chicago PMI rising to its highest level this year - and gold is down 2.4% to $1,180 per ounce, right about where it started the year. 2014's multi-year lows were around $1,140 per ounce.
    • GLD -1.9%
    • ETFs: GLD, IAU, SGOL, UGL, DGP, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, AGOL, TBAR, GEUR, UBG, GYEN, BAR
    | Apr. 30, 2015, 11:18 AM | 17 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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