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SPDR Gold Trust ETF (GLD)

- NYSEARCA
  • Sep. 30, 2014, 8:37 AM
    • Consumer prices in September are up just 0.3% from a year ago, down from 0.4% a  month previous, putting the inflation rate below 1% for twelve straight months. The ECB's target inflation rate is 2% and Mario Draghi has threatened to unleash more stimulus, perhaps QE, if inflation doesn't behave and go higher.
    • The euro sets more multi-year lows, slipping 0.75% to $1.2594.
    • FXE -0.75% premarket
    • The strong dollar is a good enough excuse to continue selling gold, which is off 0.9% to $1,207 per ounce, roughly the low point of the year.
    • GLD -0.8% premarket
    | 1 Comment
  • Sep. 19, 2014, 3:58 PM
    | 46 Comments
  • Sep. 18, 2014, 8:39 AM
    | 9 Comments
  • Sep. 17, 2014, 2:21 PM
    • Stocks initially sold off following the marginally hawkish FOMC statement and updated projections, but - 10 minutes ahead of Janet Yellen's press conference - the S&P 500 (SPY +0.2%) has retuned to the green.
    • Gold (GLD -0.3%) adds to its declines, now off 0.3% at $1,232 per ounce.
    • The dollar (UUP +0.2%) moves higher as well.
    • Previously: FOMC statement and projections lean hawkish
    | 14 Comments
  • Sep. 15, 2014, 12:34 PM
    • China cut its gold purchases by about half from a year ago, according to the World Gold Council, and India by 39%. At least part of the reason for the steep declines is what analysts like to call "tough comps," as buyers piled in a year ago amid the slide in the metal's price.
    • Commerzbank sees Asian buying gaining in Q3, noting Indian purchases usually ramp up ahead Diwaii - a Hindu festival falling this year on October 23.
    • Gold is going to need it, say some analysts, as a pickup in Asian demand will be necessary to balance out slumping speculative interest.
    • Gold is ahead by $3 per ounce today to $1,235. It began the year at about $1,200 and rose to nearly $1,400 by mid-March.
    • ETFs: GLD, IAU, SGOL, UGL, DGP, GLL, UGLD, DZZ, GLDI, DGL, DGZ, OUNZ, DGLD, AGOL, TBAR, UBG, GLDE, GYEN, BAR, GEUR, BARS, GGBP
    | 9 Comments
  • Sep. 5, 2014, 8:43 AM
    • The weak headline jobs number gets a little bit worse after revisions, with August's 209K jobs gain revised higher by 3K, but July's 298K gain adjusted lower by 31K.
    • The average workweek of 34.5 hours was unchanged for the sixth straight month. Average hourly earnings of $24.53 was up $0.06 in August, and up 2.1% on a Y/Y basis.
    • The labor force participation rate of 62.8% fell from 62.9% in July. A year ago, it was 63.2%. Total not in labor force of 91.8M vs. 90M one year ago.
    • The broader U-6 unemployment rate slipped to 12% from 12.2% in July. One year ago it was 13.6%.
    • Lower ahead of the report, S&P 500 (NYSEARCA:SPY) futures have bounced back to flat, and the 10-year Treasury yield dives lower, now off six basis points to 2.39%.
    • TLT +0.4%, TBT -0.8%.
    • Also lower ahead of the number, gold (NYSEARCA:GLD) is now ahead by 0.3%.
    • The dollar (NYSEARCA:UUP) is bouncing around, but little-changed on the session.
    • Full report
    | 3 Comments
  • Sep. 3, 2014, 1:42 PM
    • Official Indian gold imports look low - just $7B in the three months ending in June compared to $16.5B a year ago - thanks to government restrictions choking off the normal routes, but smuggling is on the rise.
    • Customs officials say seizures have jumped in recent weeks ahead of the festival season, and one customs worker suggests methods of smuggling are being changed thanks to 100% screening of bags on sensitive flights. The World Gold Council estimates about 200 tons of gold will be smuggled into the country this year.
    • With the current account deficit having fallen sharply this year, many expect the government to declare victory and retreat (from import restrictions) at some point this year, and more than a few were surprised when the new government of Narendra Modi kept the status quo in place in its first budget six weeks ago.
    • "This is a booming economy at the end of the day," says the head of a jewelry federation, estimating monthly demand to rise from 40-50 tons now to 60 tons during peak season.
    • ETFs: GLD, IAU, SGOL, UGL, DGP, GLL, UGLD, DZZ, GLDI, DGL, DGZ, OUNZ, DGLD, AGOL, TBAR, UBG, GLDE, GYEN, BAR, BARS, GEUR, GGBP
    | 8 Comments
  • Sep. 2, 2014, 9:28 AM
    • Hedge funds reduced their longs in gold for the fourth week in five, sending their holdings to the lowest since June, according to CFTC data. Open interest in gold futures is the smallest in five years and assets in gold-related ETPs fell in August by the most since May, according to Bloomberg.
    • The lack of interest comes as a promising summer for the metal - at $1,250 per ounce on Memorial Day, it rose to $1,350 by July 4 - evaporated, with today's 1.4% decline taking the price to $1,270. The weak post-4th performance came even as geopolitical tensions ratcheted higher in Ukraine and Iraq, among other spots.
    • GLD -1.6% premarket
    • ETFs: GLD, IAU, SGOL, UGL, DGP, GLL, UGLD, DZZ, GLDI, DGL, DGZ, OUNZ, DGLD, AGOL, TBAR, UBG, GLDE, GYEN, BAR, BARS, GEUR, GGBP
    | 7 Comments
  • Aug. 22, 2014, 4:17 PM
    | 3 Comments
  • Aug. 22, 2014, 10:12 AM
    • The major equity averages remain little-changed as do Treasury prices following the release of Janet Yellen's Jackson Hole address. Her talk sticks to the game plan - the first rate hike remains on tap for next year; the headline unemployment rate overstates labor market improvement; if employment or inflation picks up, hikes could come sooner than expected.
    • SPY +0.1%, TLT +0.1%, TBT -0.2%
    • Gold (NYSEARCA:GLD) remains as it was prior to the speech, +0.2% to $1,278 per ounce.
    • The dollar (UUP +0.2%) creeps higher.
    | 11 Comments
  • Aug. 21, 2014, 3:43 PM
    | 18 Comments
  • Aug. 15, 2014, 11:10 AM
    • Up nearly 1% not long ago, Europe's Stoxx 50 (NYSEARCA:FEZ) is lower by 0.6%, led by Germany's (NYSEARCA:EWG1% decline after Ukraine says it wiped out a Russian military convoy. Germany's 10-year Bund yield carves out another all-time low at 0.965%.
    • An early U.S. gain is erased as well, with the S&P 500 (NYSEARCA:SPYdown 0.25%. The 10-year Treasury yield falls to a level not seen since May 2013, off six basis points to 2.34%. TLT +1.2%, TBT -2.3%
    • Down more than 1% earlier, gold (NYSEARCA:GLD) is now lower by 0.6% at $1,307 per ounce.
    | 26 Comments
  • Aug. 12, 2014, 11:16 AM
    • Oppenheimer technical analyst Ari Wald sees big upside in gold miners going forward, and is more bullish on the miners than the metal itself.
    • Wald thinks the Market Vectors Gold Miners ETF (GDX +1.6%) can soar more than 40% from current levels to his price objective of $38; GDX has finally broken out from a long-term downtrend, he says, suggesting a new trend of outperformance is underway.
    • The analyst considers GDX a top trade idea, and believe the ETF has a stronger floor and offers more upside opportunity than the SPDR Gold Shares (GLD +0.4%).
    • Among individual GDX components, Wald recommends Goldcorp (GG +2.5%), Randgold Resources (GOLD +0.4%) and Royal Gold (RGLD +2%).
    | 17 Comments
  • Aug. 5, 2014, 11:47 AM
    • The SPDR Gold Trust (GLD -0.3%) saw 11.1 tons of new gold last month, according to the Commerzbank team. Tossing in the iShares Gold Trust (IAU -0.3%) and the rest of the gold complex, about 15.7 tons came in, making it the largest monthly inflow since November 2012. For 2014 in total, tough, there remain net outflows to the tune of 30 tons.
    • Outflows have been blamed for mostly falling prices over the last year-plus, but July's inflows may have helped staunch an otherwise tough month for gold.
    • ETFs: GLD, IAU, SGOL, UGL, DGP, GLL, UGLD, DZZ, GLDI, DGL, DGZ, OUNZ, DGLD, AGOL, TBAR, UBG, GLDE, GYEN, GLDL, GLDS, GEUR, GGBP
    | 15 Comments
  • Jul. 31, 2014, 3:38 PM
    • Heading into the month's last few minutes of trading, the Dow (DIA -1.7%), S&P 500 (SPY -1.8%), and Nasdaq 100 (QQQ -1.9%) are all near 2% declines and well into the red for the month.
    • These selloffs often lead to strength in defensive sectors like utilities (XLU -1.4%), health care (XLV -1.9%), or mREITs (REM -0.9%), but not today.
    • Also not rallying are Treasury prices (TLT -0.3%) or gold (GLD -1%).
    | 18 Comments
  • Jul. 24, 2014, 12:53 PM
    • Unrest in the Middle East and Ukraine is failing to give a bid to gold which is off 1% to $1,291. Signs of economic strength maybe aren't helping, with China's PMI rising to an 18-month high and U.S. jobless claims falling to their lowest level since 2006.
    • Yesterday, Goldman reiterated its year-end forecast for gold of $1,050 per ounce, and the China Gold Association reported a 19% decline in gold demand in that country through the year's first half. “China bought too much last year and there’s significant stock built up onshore that will take some time to work through,” says ANZ's Victor Thianpiriya.
    • GLD -1.1%
    • ETFs: GLD, IAU, SGOL, UGL, DGP, GLL, UGLD, DZZ, GLDI, DGL, DGZ, DGLD, OUNZ, AGOL, TBAR, UBG, GLDE, GYEN, GLDL, GLDS, GEUR, GGBP
    | 14 Comments
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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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