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SPDR Gold Trust ETF (GLD)

  • Apr. 30, 2012, 8:57 AM
    Gold takes a quick tumble, dropping nearly 1% in minutes to $1.650/oz. (taking silver along for the ride, or vice versa). The fall comes as HSBC hits the tape, cutting its 2012 average gold forecast to $1,760 from $1,850 on a "sharp decline" in Indian demand and reduced expectations for QE.
  • Apr. 26, 2012, 11:00 AM
    The charts show interesting moves for the precious metals, with gold and silver bottoming out of multi-week bear moves right as the FOMC released its policy statement (more ZIRP) yesterday. Since then, gold is 2% higher to $1,658, silver up 3.5% to $31.01.
  • Apr. 23, 2012, 1:02 PM
    A dose of reality for gold bugs from Matthew Kidman, who cautions that gold morphed from a fear trade into a greed trade after prices continued to march higher post crisis. While bulls cite strong demand, "the reality is the supply of bullion far outstrips demand, [and] that is going to be the case well into the future."
  • Apr. 23, 2012, 9:18 AM
    "Market forces are driving a de facto return to the gold standard," argues Lew Spellman. In a world where good collateral is scarce, and what does exist yields close to zero, "gold is stepping up to the plate." All that's left is for regulatory recognition, which may be coming in the form of a Basel proposal to make gold a bank capital Tier 1 asset.
  • Apr. 20, 2012, 12:20 PM
    May is an important month for gold stocks, says Jordan Roy-Byrne, noting the yellow metal has seen important interim tops/bottoms then in nearly each year of its decade-plus bull run. It's possible, he says, May 2012 could mark an important bottom, a la 2005. Russ Koesterich adds don't take your eye off the ball - the Fed remains gold's best friend.
  • Apr. 20, 2012, 11:30 AM
    Richard Woolnough adds to last week's thoughts from a colleague that the BoE could just cancel the gilts it holds to improve the U.K.'s finances. What the 2 are describing is the alchemy of fiat money - allowing governments to issue debt denominated in the currency which their (supposedly) independent central banks can print. It works swimmingly, until it doesn't.
  • Apr. 17, 2012, 10:05 AM
    Among 4 trends in central banking looked at by Kate Mackenzie is a move towards nominal GDP targeting (and away from inflation targeting). The RBI took the baton last night, focusing on slowing GDP and cutting rates even as inflation remains high. The Fed and the BOE have shown their inclination towards this line of thinking as well.
  • Apr. 17, 2012, 7:26 AM
    Gold sales from Australia's Perth Mint - which processes all of the country's bullion - fell 9.6% Y/Y in March, with silver sales off 39%. A manager at the facility blames the better vibes in global financial markets. "Since the GFC hit, we've experienced peaks and troughs ... at the moment we're just in a trough." Gold +0.5% to $1,675.
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  • Apr. 13, 2012, 2:45 PM
    Gold gets no bid from the sell-off in risk assets as a casual drift downward steepens in the last hour, -1.5% to $1,654. Silver -3.3% to $31.46.
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  • Apr. 12, 2012, 10:14 AM
    Gold shoots out of a quiet trading range it's been in for the last 48 hours, leaping 1% in the past minutes to $1,670/oz. GLD +0.7%. Silver is on the move too, leaping $0.55 to $32.05/oz. SLV +2%.
  • Apr. 10, 2012, 1:04 PM
    After hanging around quietly in the red most of the day, gold and silver have charged higher in the last 30 minutes. Gold +0.8% to $1,657/oz., silver +0.6% to $31.71/oz.
  • Apr. 5, 2012, 9:22 AM
    A majority of analysts polled by Bloomberg turn negative on gold, the first bearish read this year. Topping the list of concerns are slumping demand in India - where jewelers have been closed for 3 weeks in protest of higher taxes - and the Fed being a little less eager to paper the planet with greenbacks. Gold +0.8% to $1,627.
  • Apr. 4, 2012, 7:34 AM
    Gold continues to feel the sting of a new-found (but likely temporary) hawkishness coming out of the FOMC. The yellow metal adds to yesterday's big loss, -2.9% to $1,623. It's the lowest price since the opening days of 2012. Silver -4.5% to $31.76. GLD -1.2%, SLV -2.1% premarket.
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  • Apr. 3, 2012, 2:36 PM
    Dollar-sensitive commodities aren't spared the damage from news additional QE isn't right around the corner. Gold -1.7% to $1,651, WTI crude -1.3% to $103.84, copper -0.8% to $3.89.
  • Apr. 2, 2012, 12:16 PM
    Oil and precious metals reverse early losses, helped along by rallying stock markets here and in Europe. WTI crude +1.4% to $104.42. Gold +0.6% to $1.682, silver +2% to $33.13. Natural gas hits another 10-year low, -1% to $2.10.
  • Apr. 2, 2012, 9:01 AM
    After recently expressing optimism on stocks, Dr Doom Marc Faber returns to form by warning of the consequences of huge government debt and runaway money printing. "Somewhere down the line we will have a massive wealth destruction," Faber says, although he still thinks that equities, gold and distressed properties in the south are good bets.
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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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