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SPDR Gold Trust ETF (GLD)

  • 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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  • Mar. 29, 2012, 2:39 PM
    Russia makes its first gold sale in 5 years, according to IMF data showing the country unloaded 3.8 tons in February. It's a big shift for the central bank which had been one of the more aggressive official buyers of the metal, more than doubling reserves since 2006.
  • Mar. 28, 2012, 2:29 PM
    Gold closed with another sharp drop, as April futures dipped 1.6% to $1,657.90/oz. Goldman's bullish call notwithstanding, others wonder if gold prices have peaked. CPM Group sees increasing supply plus a bigger global pool of gold investors setting a floor under the market but without parabolic rallies. Matthew Lynn counters that gold could take another leg higher if big central banks start buying again.
  • Mar. 28, 2012, 7:20 AM
    Goldman is bullish on gold, noting last year's breakdown of the correlation between real interest rates and the metal's price is about to reassert itself (when real rates fall, gold rises). Seeing a weak economy prompting more easing by the Fed and a drop in real rates, gold should return to above $1,800. Gold -0.5% to $1,678.
  • Mar. 26, 2012, 9:08 AM
    Key to Bernanke's view of the economy is his belief cyclical rather than structural issues are behind the weakness in the labor market. "If this assessment is correct, then accommodative policies  to support the economic recovery will help address this problem." S&P 500 +0.6%, Gold +1%, Crude +0.2%, Copper +1.3%. UUP -0.3% premarket.
  • Mar. 26, 2012, 7:30 AM
    Take advantage of March's $140/oz. decline in gold to buy now, says Macquarie, noting sentiment towards the metal has reached "extreme pessimism" levels. March is seasonably a poor month for gold and the Fed at a minimum is on hold through 2014 and may even ease more. What's not to like?
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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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