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SPDR Gold Trust ETF (GLD)

  • Aug. 23, 2012, 7:10 AM
    Gold continues to party as the weak Chinese PMI print overnight combines with yesterday's FOMC minutes to give rise to the idea of a lot more fiat paper chasing the same level of goods. The yellow metal (along with silver) has clearly broken through key technical levels as well. GLD +0.5%, SLV +1.6% premarket.
  • Aug. 22, 2012, 2:35 PM
    Maybe biggest reaction to the dovish FOMC minutes comes from the precious metals, gold adding nearly 1% to $1,648/oz., and silver tacking on a similar amount to $29.67. GLD +0.6%, SLV +1.5%. Currencies: The euro adds 50 pips to $1.2526. The pound, aussie, yen, and loonie all get a boost as well. UUP -0.5%.
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  • Aug. 21, 2012, 1:37 PM
    Gold's move to $1,642/oz. - the highest price since early May - catches the eye of the technicians as what  was though to be a bearish triangle has been resolved ... to the upside. GLD +1.2%.
  • Aug. 20, 2012, 10:27 AM
    Chinese gold bugs will soon find it easier to invest as a number of fund managers have received permission to create gold ETFs to trade in Shanghai and Shenzhen, according to sources. It remains unclear as to whether these will be physically backed by the metal (thus boosting demand for it).
  • Aug. 16, 2012, 9:52 AM
    Gold demand of 990 tons in Q2 was off 9% Y/Y, reports the World Gold Council (.pdf). Demand was lower across all sectors - jewellery, technology, investment - except central banks, which doubled their net purchases to 157.5 tons in Q2. Supply? At 1,059.1 tons, its was off 6% Y/Y.
  • Aug. 15, 2012, 7:58 AM
    Goldbugs may want to ask John Paulson to stop as the ice-cold fund manager upped his stake in GLD by 26% to 21.8M shares in Q2. (13-F)
  • Aug. 14, 2012, 11:18 AM
    Gold stocks are looking better than the metal for the first time in more than two years, which bodes well for both, Barron's Michael Kahn writes. Significant recent one-day price reversals in major gold stocks Barrick (ABX), Newmont (NEM) and Goldcorp (GG) suggests that after a long decline the bears have used up all of their energy, he says, improving their risk/reward profiles.
  • Aug. 10, 2012, 12:10 PM
    The SPDR Gold Trust (GLD) has been lagging iShares Gold Trust (IAU) because of inflows and performance, Christian Mangoon writes. IAU has outperformed GLD not only YTD, but in the past one-, three-, and five-year periods, and has captured more than 3.5x GLD's investor inflows - “amazing considering that the asset base of GLD is about 7x larger than IAU.”
  • Aug. 7, 2012, 7:40 AM
    Sell your gold and buy a house, hire workers, buy grains, or send a kid to college, writes Peter Tasker, noting the price of the metal is at multi-generational highs against these items. Recent financial instability has failed to budge the price, he says, meaning the bull market may be over and gold is back to being just another risk asset.
  • Aug. 6, 2012, 2:32 PM
    The $2,000/oz. mark for gold is starting to look out of reach, and Morgan Stanley cuts its gold price forecast for Q4 by 13%, citing strength in the U.S. dollar as investors choose dollar-denominated assets as a haven from Europe’s banking crisis... and QE3, which gold bugs have been counting on, hasn’t showed up. Comex gold rose $6.90, or 0.4%, to end today's trade at $1,616/oz.
  • Aug. 1, 2012, 2:22 PM
    More from the FOMC: The committee does downgrade its assessment of the economy, saying information received since the June meeting suggests a deceleration. However, there's no new candy for now. Over to you, Mr. Draghi. S&P 500 -0.3% after being marginally higher. The dollar moves up, particularly against the euro (FXE -0.5%). Gold sheds a few dollars, GLD -1.2%.
  • Aug. 1, 2012, 9:58 AM
    FOMC preview: "Gold (is) saying Bernanke doesn't deliver the drugs," writes Keith McCullough. GLD -1%, SLV -2.5%.
  • Jul. 26, 2012, 7:59 AM
    Gold continues a nice rally, spurred on this morning by Draghi's comments suggesting more candy from the ECB. The yellow metal is higher by 3.7% to $1,617/oz. since the Hilsenrath article suggesting new Fed action hit on Monday afternoon. GLD +1% premarket.
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  • Jul. 25, 2012, 11:13 AM
    Gold's performance over the past year (flat) actually isn't so bad given the dollar has risen 12%, according to JPMorgan's gold team. Still the group remains cautious on the metal and miners (especially amidst reporting season) as declining inflation rates suggest monetary stimulus isn't as forceful as commonly believed.
  • Jul. 18, 2012, 9:55 AM
    Mexico, long known for silver, is enjoying a new gold rush, as high gold prices compel companies to start mining more aggressively in the country's difficult terrain. Big outfits such as Goldcorp (GG) are operating in areas where gold wasn't concentrated enough for mines to make a profit. This year, GG's Peñasquito site is set to produce 500K oz. of gold, making it Mexico's biggest gold mine and GG's most prolific.
  • Jul. 17, 2012, 10:53 AM
    Along with stocks, the euro and gold both tumble in the wake of The Chairman's testimony which showed little additional movement to more Fed asset purchases. The euro (FXE) falls nearly 100 pips since 10 ET to $1.2190. Gold (GLD) -1.2% to $1,573. S&P 500 now -0.5%.
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GLD Description
The objective of the SPDR® Gold Trust† is for the Shares to reflect the performance of the price of gold bullion, less the Trust's expenses.
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