Seeking Alpha

Seeking Alpha Portfolio App for iPad

784 people get SGOL articles and Market Currents by email alert.

Get email alerts on SGOL »

SGOL

ETFS Physical Swiss Gold Trust ETF

5/22/2013, 12:37 PM ET

Quote & Headlines Market Currents StockTalk

All
| Earnings
| Dividends
| M&A
| On the move

Thursday, March 7, 7:59 AM Even as his hand has gone ice-cold picking stocks, John Paulson's stake in gold (GLD) has served as a positive counterweight for his funds. That's no more as gold's slide (along with the miners - GDX) spurred an 18% decline in his Gold Fund in February, and is now down 26% YTD, reports Bloomberg. "We believe in the long-term outlook for these positions as QE programs continue around the world," he writes to clients. 23 Comments [Commodities]
Wednesday, March 6, 3:09 PM Longtime bulls on gold, Commerzbank analysts turn bearish, noting holdings of gold ETFs have dropped below 2.5K tons for the first time 5 months. GLD - far larger and the playground of institutional players - has seen a significantly higher amount of outflows on a percentage basis than the retail favorite IAU. Another measure of small-fry sentiment, U.S. mint sales remain brisk. 16 Comments [Commodities]
Tuesday, March 5, 4:41 PM Gundlach: Worrying about how the Fed may unwind its policies is a waste of time, he says. The current Fed boss and the putative successor (Yellen) haven't indicated any interest in an exit. With precious metals bears patting themselves on the back of late, Gundlach thinks it's a good time to buy, preferring silver (SLV) to gold (GLD) thanks to the white metal's higher beta. 7 Comments [U.S. Economy, Commodities, Quick Ideas]
Friday, March 1, 3:14 PM Gold ETP flows had their weakest month on record, according to Barclays, causing net fund ownership of the metal to fall to its lowest level since Dec. 2008. New short positions are at their highest since July 1999. Net outflows between Feb. 20-25 averaged more than 10M tons/day, with the bulk coming out of the GLD which lost 58M tons for February. 25 Comments [Commodities]
Thursday, February 28, 12:50 PM Add SocGen to the growing list of sell-side shops growing bearish on gold (GLD), calling Fed talk about an exit strategy premature for now, but coming nevertheless. It's a familiar argument to anyone paying attention. The news isn't SocGen's reasoning, but instead the now-fashionable bearishness on the metal. 14 Comments [Commodities]
Tuesday, February 26, 2:55 PM Comex gold scores its biggest one-day gain of the year, jumping $28.90 (+1.8%) to settle at $1,615.50, as Bernanke’s comments were "music” to the ears of precious metals bulls, Real Assets' Jan Skoyles says, "and strong economic data is just not enough anymore to convince markets that all is well." Silver +0.9% to $29.32. 8 Comments [Commodities]
Tuesday, February 26, 7:15 AM Goldman slashes its 2013 gold price target to $1,600 from $1,810 citing ... recent price declines. What wonderful value-added. Searching for a better reason to justify its fancy pay, the team notes a small increase in U.S. real interest rates as well as the perceived hawkish FOMC minutes (refuted by a half dozen Fed speakers over the past few days). GLD -0.3% premarket. 18 Comments [Commodities]
Monday, February 25, 12:41 PM Gold gains 1.1% to $1,590 after touching a 7-month low last week amid growing indications of at least short-term capitulation. Another one: Net long positions for the week ended Feb. 19 were slashed by 36% to the lowest level since November 2008, according to Commerzbank, which notes the metal has slid more since the 19th, meaning speculative longs have likely declined even further. GLD +0.6%, SLV +0.9%. 8 Comments [Commodities, On the Move]
Monday, February 25, 10:59 AM Counting on the Fed's dovish bias to win out, UBS goes against the grain by predicting a "major gold rally" this year, expecting the Fed to continue printing into Q3 when UBS' commodity strategists - in contrast to its economists - expect global growth to lose momentum. But investors have been dumping their gold ETF holdings in favor of industrial metals; last week, physical palladium ETFs saw their largest inflows ever. 3 Comments [Commodities, Quick Ideas]
Friday, February 22, 5:10 PM Fund managers' short bets on Comex-traded gold futures and options surged 33% this week to more than 65K contracts, the most in weekly CFTC data going back to June 2006. Fund managers still held more bets that prices would rise than bets they would fall, though by the lowest margin in more than four years. Gold settled at $1,572.80 today, a seven-month low. 8 Comments [Commodities]
Friday, February 22, 9:19 AM Outflows from the GLD hit $1B in January and have accelerated in February, now summing to $3.1B YTD. Bulls may take heart - the last time the GLD suffered outflows was mid-summer 2012, just ahead of a big rally in gold prices. AUM in GLD was $72B at January's end. 27 Comments [Commodities]
Thursday, February 21, 5:25 PM CIBC economists believe many of the forces that made gold so attractive appear to be turning over, while expectations for other supportive factors are overdone. They say investors have piled into gold as a hedge by incorrectly buying into the myth that central banks have been printing so much money that inflation is inevitable, "a myth because, in reality, money growth has not been particularly brisk." 23 Comments [Commodities]
Thursday, February 21, 7:26 AM Nice. Gold is downgraded at Credit Suisse, which cuts its price target to $1,600. One month ago, the bank saw gold at $1,750 in the short-term and $1,800 over the new year. GLD +0.6% premarket. 14 Comments [Commodities]
Wednesday, February 20, 7:58 AM Gold falls to its lowest level since August, now at $1,591 and off more than 11% since the heady post-QE∞ announcement days. The move is more of a blip on a longer-term chart and the metal is basically flat since summer 2011. GLD -0.8% premarket. 9 Comments [Commodities, On the Move]
Friday, February 15, 12:35 PM Gold's now in a clear downtrend, taking out new technical lows, hit by (3-month old) news big names are selling, and now the chart's starting to form the dreaded "death cross." All the gold bugs need for a perfect bullish setup would be Paul Krugman taking to the air to declare victory for all he believes ... check. GLD -1.7%. 43 Comments [Commodities, On the Move, Quick Ideas]
Friday, February 15, 11:36 AM The sight of big name managers dumping gold likely augurs badly for its near-term prospects, as such notables as George Soros, Julian Robertson and Pimco reduced their bets on gold during Q4, when bullion posted its biggest quarterly loss in more than four years. The price of gold is down nearly 2% today, and has dropped 6% since the end of November. (also) 35 Comments [Commodities]