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SPDR Gold Trust ETF (GLD)

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  • 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%).
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  • 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.
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  • 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.
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  • 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
  • Mar. 12, 2012, 3:47 PM
    "The pattern is set," says Kyle Bass, making the case for gold. Put any acronym you want on it, but central banks are going to continue to monetize debt by expanding their balance sheets. Bass also decries gold being taxed as a collectible, giving it a disadvantage to other assets. "It should be taxed as any other asset you own."
    | 5 Comments
  • Mar. 9, 2012, 12:17 PM
    Gold's up-and-down day adds to the uncertainty over the metal. Analysts say that sentiment is shaky amongst traders with no clear definition of where the floor for prices really stands.
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  • Mar. 9, 2012, 11:23 AM
    Precious metals reverse big early losses in the wake of the payroll report and pop sharply higher over the past 60 minutes. Gold +0.7% to $1,710, silver +0.9% to $34.12. Crude oil is on the move as well, +1.3% to $107.97.
    | 2 Comments
  • Mar. 9, 2012, 9:57 AM
    The bid comes out of gold and silver following the NFP report, with traders apparently believing continuing solid employment numbers lessens the chances for additional QE. Gold is at 1,681/oz., silver at $33.29. GLD -1%, SLV -1.2%.
    | 1 Comment
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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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