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Market Vectors Gold Miners ETF

5/25/2013, 11:36 PM ET

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Friday, May 24, 4:42 PM The week's ETF movers - Gainers: GDXJ +6.5%. GAZ +6.3%. TAN +5.2%. UNG +4.4%. GDX +4.3%.
ETF Losers: WPS -6.1%. EWJ -5.7%. EWA -5.6%. EPI -5.6%. IYR -3.4%. Comment! [On the Move]
Friday, May 24, 9:06 AM After spending years and billions eliminating their hedge books, gold producers (GDX) may need to return to their old habit - selling production forward - thanks to the metal's (GLD) sharp decline. "We think producers are under pressure to put on hedging," says SocGen's Robin Bhar. "The problem is it needs a cultural change ... Guys who used to hedge have lost their jobs." Renewed producer selling could put even more pressure on prices. 10 Comments [Commodities]
Thursday, May 23, 2:46 PM Gold's sharp rise today can be attributed to the dollar's drop vs. the yen; when the dollar drops, gold should rise, as their correlation during the past 24 days has hit -86%. A stock sector that's standing out is emerging market gold miners: South Africa’s Sibanye (SBGL), Harmony (HMY) and AngloGold (AU), plus Peru's Buenaventura (BVN) are stronger, even as their corresponding country ETFs (EZA; EPU) are in the red. 5 Comments [Commodities, On the Move]
Wednesday, May 22, 3:59 PM Prospects for gold mining stocks (GDX +1.2%) could be turning around at least in the short term, MKM Partners' Katie Stockton says. She would consider adding some exposure to take advantage of a short-term relief rally within the downtrend, adding "the trade is likely to play out in the near term or not at all, so we expect to know if it is working in the next week or two." 8 Comments [Commodities]
Tuesday, May 21, 9:41 AM IAMGOLD (IAG -4.9%) reports encouraging drill results from its Boto Gold project in West Africa, saying drilling continues to return wide intervals with good grades, confirming previous results and further extending the zones drilled. But gold miners (GDX -2.5%) are broadly lower as futures resume their descent after yesterday's wild ride: KGC -4.7%, EGO -4.6%, GFI -3.6%, ABX -2.8%, GG -2.2%, NEM -1.8%. Comment! [Commodities, On the Move]
Monday, May 20, 12:57 PM As precious metals prices turn around, share prices of gold (GDX +4.7%) and silver miners (SIL +3.1%) surge: ABX +5.9%, GG +4.5%, KGC +6.4%, NEM +4.7%, SLW +4%. Even South African producers turn mixed, despite the call from the country's mine workers union for big pay increases: AU -0.8%, GFI +1.5%, HMY -0.5%. 2 Comments [Commodities, On the Move]
Friday, May 17, 4:49 PM The week's ETF movers - Gainers: TAN +9.6%. XLF +3.7%. UNG +3.4%. GAZ +3.2%. EWJ +3.0%.
ETF Losers: GDXJ -14.2%. GDX -11.5%. PSLV -7.3%. SLV -6.9%. SIVR -6.7%. 1 Comment [On the Move]
Friday, May 17, 3:22 PM Gold miners (GDX -3.2%) take another beating as gold continues to lose its allure amid disclosures of reduced bets by hedge funds, a World Gold Council report showing gold demand at a three-year low, and a surging dollar. For the miners, it's an ugly world of lower production, higher costs and falling prices. At least nine miners hit 52-week lows: NEM -3%, GG -2.7%, AUY -4.8%, HMY -6.3%, AU -2.5%, BVN -1.1%, ANV -7.4%, NG -2.7%, GSS -5.8%. 18 Comments [Commodities, On the Move]
Friday, May 10, 12:23 PM The mini-recovery in gold and metals mining stocks is stopped as gold prices sink 3% today to ~$1,425/oz. after closing higher in each of the past two weeks. A breach of key chart levels is prompting heavy selling of gold futures, already under pressure from a stronger dollar and rising stock markets. Among big miners: ABX -3%, NEM -2.1%, GG -1.6%, KGC -3.8%, SLW -2.7%, FCX -1.8%. Comment! [Commodities, On the Move]
Wednesday, May 8, 2:05 PM Today's dead-cat bounce in the mining sector looks like a reaction to the overwhelming bearishness, expressed in the options market yesterday by heavy buying of GDX puts. Volume in the gold miners ETF (GDX +4.8%) is only about average so far, indicating mere short-covering and no stampede back into gold stocks, Randall Forsyth writes. ABX +7.6%, GG +4.5%, NEM +4%. 5 Comments [Commodities, On the Move]
Tuesday, May 7, 2:10 PM Some big moves in today’s options trading make it appear that investors are banking on another drop in the gold miners ETF (GDX -3%), already -36% YTD. Volume in GDX options is heaviest in the June $27 strike puts, where nearly 40K puts have traded vs. open interest of ~16K contracts. Big miners are broadly lower: HMY -5.5%, GFI -5.2%, AU -3.2%, ABX -3.1%, EGO -2.8%, NEM -2.2%, GG -2%. 3 Comments [Commodities, On the Move]
Wednesday, May 1, 10:41 AM Gold miners (GDX) risk becoming a “barbarous relic” to equity investors unless they return more money to shareholders, warns BlackRock's Evy Hambro, whose commodities funds hold ~$7B in gold-related assets. Big miners have been "care free" in financing their expansion by issuing shares while gold prices were high; profitability per share has fallen, hurting long-term shareholders. (ETFs: GLDX, PSAU, NUGT, DUST, GGGG, RING, GDXJ) 1 Comment [Commodities]
Monday, April 29, 11:39 AM Gold miners (GDX) have been smacked by plunging gold prices, but Citigroup and HSBC think they have further to fall. Citi worries about AngloGold (AU) because negative free cash flow would hit its "already stretched balance sheet," but Harmony Gold (HMY) has the balance sheet to weather similar problems; Gold Fields (GFI) is its sector favorite. HSBC cuts GFI, Agnico Eagle (AEM) and many others. 1 Comment [Commodities, Quick Ideas]
Wednesday, April 24, 12:20 PM Investors in gold miners (GDX +3.5%) feel good - at least for a day - after Barrick Gold's (ABX +3.1%) Q1 efforts to cut costs show some success. ABX reduced its 2013 capex forecast to $5.2B-$5.7B, and said all-in sustaining costs are seen at $950-$1,050/oz., vs. a Feb. 14 forecast of $1,000-$1,100. HMY +8.4%, GFI +5.1%, GG +3.7%, NEM +3.6%, EGO +3.2%, AU +3%. 3 Comments [Commodities, On the Move]
Monday, April 22, 12:33 PM Encouraged by the efforts of gold miners to be more transparent about costs, Andrew Bary of Barron’s over the weekend makes the case for owning beaten gold-mining stocks. The more accurate - i.e., higher - cost estimates aren’t just about trying to be more shareholder-friendly, they're about trying to avoid shakedowns by revenue-hungry emerging market governments. 10 Comments [Commodities]
Friday, April 19, 4:26 PM The week's ETF movers - Gainers: VXX +11.3%. EPI +5.5%. UNG +3.9%. GAZ +3.9%. AMJ +2.1%.
ETF Losers: GDXJ -14.2%. SLV -11.4%. SIVR -11.3%. GDX -11.3%. PSLV -10.8%. Comment! [On the Move]

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