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SPDR Gold Trust ETF (GLD)

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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.
    | 22 Comments
  • 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.
    | 4 Comments
  • 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.
    | 21 Comments
  • 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.
    | 7 Comments
  • 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?
    | 2 Comments
  • Mar. 23, 2012, 7:26 AM
    "For virtually the first time this cycle, buying gold is a contrarian trade," says Kamal Naqvi from Credit Suisse of the low sentiment in the market. Gold hit a 10-week low of $1,628/oz. yesterday as, quite frankly, it's a lot easier to buy Apple. The metal is recouping a bit this morning, +0.4% to $1,690.
    | 2 Comments
  • Mar. 22, 2012, 10:28 AM
    Following the coup in Mali, Citi analyst Jon Bergtheil tells clients that the country has been fairly stable and so could return to "business normality" in a few months. While Mali is one of Africa's most important gold producers, the turmoil is doing nothing to support prices today - futures are -0.8% - despite wreaking havoc with Randgold (GOLD -8.6%).
    | Comment!
  • Mar. 22, 2012, 10:08 AM
    Precious metals continue a decline which began around the start of March, touching their lowest levels since January. Gold -1.3% to $1,631/oz., silver -2.5% to $31.41. Of continuing concern is higher import duties for gold in India where jewelers are expected to reopen today after a week-long strike.
    | Comment!
  • Mar. 21, 2012, 10:21 AM
    The U.K. Treasury clarifies George Osborne's comments on gold, saying that they weren't "gold-specific" and that the U.K. has no plans to increase its reserves, tweets Reuters' Jamie McGeever. "Except for the mention of 'gold' holdings. Specifically," replies former U.S. government official Tony Fratto.
    | Comment!
  • Mar. 21, 2012, 9:11 AM
    Sure to put a chill up the spines of gold bulls is U.K. Chancellor Osborne's announcement (during his budget address) of his decision to build up the country's gold reserves, currently worth £11B. The U.K. famously sold much of its gold for about $250/oz. near the start of the century, now it's buying at $1,650?
    | 8 Comments
  • Mar. 19, 2012, 12:02 PM
    Precious metals continue to bounce bit after an ugly 3-week run which saw gold decline nearly 9% and silver more than 10%. Gold +0.5% to $1,664, silver +1% to $32.92. The miners move higher as well: GDX +0.4%, SIL +0.5%.
    | 1 Comment
  • Mar. 16, 2012, 7:13 AM
    Among the proposals in India's budget is a doubling of the import duty on gold to 4%, a move that could cause a significant drop from the record 969 tons of the metal brought into the country in 2011. The finmin blames the importation of gold for being one of the key drivers of the country's current account deficit. GLD -0.6% premarket.
    | 1 Comment
  • Mar. 15, 2012, 7:50 AM
    The time to sell your gold (GLD) is during the next big government crisis, writes Dylan Grice, who says "Dubai and Greece are merely the first claps of thunder in what is going to be a long emergency." Eventually things will get so bad, he says, governments will be forced to return to the path of fiscal sustainability.
    | 2 Comments
  • Mar. 14, 2012, 7:22 AM
    Precious metals continue a decline that picked up steam when the positive results of the Fed stress tests began to leak out. It's hard to imagine QE3 coming about if the Fed believes a depression could hit and banks would still be solid enough to return capital to investors. Gold -2.1% to $1,659. Silver -1.1% to $33.19.
    | 5 Comments
  • Mar. 13, 2012, 3:45 PM
    Apparently gold has failed the Fed's stress test as the price dives over the past 30 minutes to $1,667/oz. GLD -1.8%.
    | 4 Comments
  • Mar. 13, 2012, 1:26 PM
    Valuation matters, says Jim Grant, taking a live-TV swipe at Warren Buffett's bearish case on gold and neatly making his point by putting up a chart of the metal vs. Coca-Cola (KO) since 1996 ("an embarrassment to owners of the common"). Coca-Cola today? A much better bet, says Grant, noting its PE of just 19 and a yield nearly equal to the 30-year Treasury.
    | 5 Comments
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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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