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Gold ETFs See Exodus As Bullion Gets Hammered

By  +Follow June 28, 2013 12:20PM
Tickers Mentioned:

It would be an understatement to say that gold, as a commodity, has had a rough year.

The precious metal began its decline as a result of the tremendous gains for equities that ramped up significantly in 2103. With the apparent unyielding support of Federal Reserve spending, investors herded into stocks under the impression that the more risky asset class was going to be significantly less risky for the near to mid-term, obviating the need for the safe haven of gold.

Gold then took another shellacking at the tail end of the Cyprus bank bailout negotiations, in reaction to rumors that the island-nation’s central bank would consider selling off its reserves of yellow metal in order to meet the stipulations of the European Union’s bailout package. Investors feared that this could set a precedent for Europe’s numerous ailing banks, effectively eviscerating gold’s long-standing position as a safe place for their money during economic downturns.

And now, gold is getting battered in the wake of Ben Bernanke’s statements last week that the Fed was considering an end for stimulus spending as early as next year, despite the fact that numerous Reserve officials emerged this week to take the rougher edges off of what the Chairman said during a press conference subsequent to the FOMC meeting.

The current predicament has been dutifully reflected in the increasingly fashionable world of Exchange Traded Funds. The popular SPDR Gold Shares ETF (GLD) that tracks the price of physical gold as closely as possible has watched nearly 30 percent of its price ebb away since the beginning of the year from around $160 per share in January to Friday’s price of $118.59. GLD has not experienced this much duress since the fund was created nearly ten years ago.

Much the same can be said of the iShares Gold Trust ETF (IAU), that is now trading for under $12 after starting off the year at around $16, a nearly 30 percent price-drop. In fact, all of the unleveraged gold ETFs are down around 25 percent or more so far this year: the Physical Swiss Gold Shares ETF (SGOL) is down 28.5 percent, the Power Shares Deutsche Bank gold ETF is down 29.4 percent, and the UBS E-Tracs CMCI Gold Total Return ETF is off 29.10 percent.

Leveraged Gold ETF products are faring even worse, with the double-leveraged (DGP) down nearly 44 percent and the triple-leveraged (UGLD) down over 60 percent.

The price of bullion itself has sold-off to an unexpected and almost shocking extent, dipping below $1,200 briefly during trading on Friday, when under $1,300 would have been more or less an offensive suggestion just a couple months ago.

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Results for gld
29 Aug 15 02:25:36
RT @alaidi: Fed courts battle of wills w/ markets by @FX_Button http://t.co/BCyBiVfDBm #forex $FXE $UUP $TNX $GLD $SPY #SPX
29 Aug 15 02:18:40
RT @alaidi: Fed courts battle of wills w/ markets by @FX_Button http://t.co/BCyBiVfDBm #forex $FXE $UUP $TNX $GLD $SPY #SPX
Ashraf Laidi
29 Aug 15 02:15:47
Fed courts battle of wills w/ markets by @FX_Button http://t.co/BCyBiVfDBm #forex $FXE $UUP $TNX $GLD $SPY #SPX
Fractal ETFs
29 Aug 15 01:50:53
New $GLD alerts have recently been posted. Check them out now. http://t.co/rX2XOiK7PB
29 Aug 15 01:46:53
RT @NaviAvatar1: Chinese Gold Demand running extremely high...Currencies devaluing worldwide. Im long $GLD $JNUG http://t.co/byiWAnCZX2
29 Aug 15 01:42:07
SLB Schlumberger Ltd. P/E Ratio http://t.co/QldeQzC4y5 $SLB $AZO $GLD $AAXJ #SLB #invest #stocks
29 Aug 15 01:38:10
GLD SPDR Gold Trust Shares EOD Data http://t.co/Le9ix77MFX $GLD $UAL $SLB $TRV #GLD #nasdaq #invest
29 Aug 15 00:49:10
XOM Exxon Mobil Corp. Current Price http://t.co/yjLDf48Dfs $XOM $MDY $CELG $GLD #XOM #tradeideas #tradeideas
29 Aug 15 00:47:20
XEG.TO iShares CDN S&P/TSX Capped Energy Index Fund Last Trade http://t.co/Tm0bRwzQII $XEG.TO $GLD $IBB $ALFA #XEG.TO #stock #invest
29 Aug 15 00:45:03
TBT ProShares UltraShort 20+ Year Treasury Open http://t.co/X2XniHaKrI $TBT $GLD $ZIV $AAPL #TBT #finance #share
29 Aug 15 00:44:16
RCL Royal Caribbean Cruises Chart http://t.co/XZOuzn5QDk $RCL $GLD $WFC $EEM #RCL #investing #stockmarket
29 Aug 15 00:42:52
MRK Merck & Co., Inc. Day High http://t.co/sSqmU0pMug $MRK $GLD $LULU $PLD #MRK #finance #investing
IH News Desk
29 Aug 15 00:42:38
GLD SPDR Gold Trust Shares Stock Forum http://t.co/U3wp1Ys2rF $GLD $WMT $AET/UN.TO $GDX #GLD #share #investing
29 Aug 15 00:41:22
MGM MGM Resorts International Current Price http://t.co/RDbW9G0iFi $MGM $EA $LINE $GLD #MGM #stocks #share
29 Aug 15 00:40:19
GSS Golden Star Resources EOD Data http://t.co/yYFzZXFz0P $GSS $XLV $ATI $GLD #GSS #nasdaq #stockmarket
29 Aug 15 00:40:17
FXE Currency Shares Euro Trust Current Price http://t.co/dGOJkGblM9 $FXE $GLD $RSP $FXI #FXE #investing #nasdaq
29 Aug 15 00:40:14
IYT iShares DJ Transportation Average Index Fund Company Info http://t.co/iClgOryitc $IYT $GLD $LEU $PLD #IYT #tradeideas #tradeideas
Investors Hangout
29 Aug 15 00:40:07
GLD SPDR Gold Trust Shares EOD Data http://t.co/DqJfp7ffA3 $GLD $ANFI $GDXJ $TQQQ #GLD #tradeideas #stocks
Rosner Stocks
29 Aug 15 00:40:07
GLD SPDR Gold Trust Shares Bid Size http://t.co/PVNHcg6bxu $GLD $UNG $XIV $RCL #GLD #investing #share
29 Aug 15 00:39:35
GLD SPDR Gold Trust Shares Stock Message Board http://t.co/IIYFSFATIX $GLD $VTI $DRN $TTT #GLD #share #share
29 Aug 15 00:39:06
GLD SPDR Gold Trust Shares Short Sales http://t.co/xcnRuHE4Tm $GLD $GOLD $SMN $ANTH #GLD #tradeideas #stock
Investors Hangout
29 Aug 15 00:39:06
GLD SPDR Gold Trust Shares Bid http://t.co/QvWu79N9Kv $GLD $CRS $RDS/B $CFX.TO #GLD #finance #share
29 Aug 15 00:39:05
GLD SPDR Gold Trust Shares Ideas http://t.co/H4X349IF11 $GLD $AIG $FCX $QTMM #GLD #stockmarket #finance
29 Aug 15 00:39:05
GLD SPDR Gold Trust Shares Yield http://t.co/RMmodkDiE3 $GLD $RSP $TWTR $V #GLD #share #tradeideas
29 Aug 15 00:39:04
GLD SPDR Gold Trust Shares Last Price http://t.co/pPDEzwleYN $GLD $LULU $AXP $DIA #GLD #nasdaq #invest
29 Aug 15 00:39:04
GLD SPDR Gold Trust Shares Change http://t.co/JQcy8SmOjG $GLD $PFE $AC.TO $CVI #GLD #investing #finance
29 Aug 15 00:38:48
GLD SPDR Gold Trust Shares Bid Size http://t.co/hZ2RKrrt6j $GLD $APC $XLP $USO #GLD #share #stockmarket
IH News Desk
29 Aug 15 00:38:47
GLD SPDR Gold Trust Shares Current Price http://t.co/yD6VhR8b2d $GLD $ESRX $RPG $GILD #GLD #nasdaq #tradeideas
29 Aug 15 00:38:46
GOOG Google Inc. - Class C 52Wk Low http://t.co/MkpGmDgIjn $GOOG $SUNE $GE $GLD #GOOG #tradeideas #stockmarket
29 Aug 15 00:38:21
EWS Singapore iShares Investor Opinions http://t.co/r8DkiwMZbu $EWS $PEK $INTC $GLD #EWS #investing #pennystocks
29 Aug 15 00:35:14
Stock_Tracker1 : BGMD BG Medicine INc. Ask Size http://t.co/6iDbFBCbwh $BGMD $DNAX $GLD… http://t.co/NZZaEewMel) http://t.co/jL8rffa9L6
29 Aug 15 00:35:13
lookn4wins : CBM Cambrex Corp. 52Wk High http://t.co/tdtduBUV2Y $CBM $EWJ $XLV $GLD #CB… http://t.co/Kquv7fOuk9) http://t.co/tjlwTuFP4L
29 Aug 15 00:35:13
CNX Consol Energy, Inc. News http://t.co/9SAojzZVIr $CNX $GLD $UNG $GS #CNX #share #stocks
IH News Desk
29 Aug 15 00:34:14
CHK Chesapeake Energy Corp. Yield http://t.co/f8EAG5kTAS $CHK $GLD $XLB $MGM #CHK #share #pennystocks
Rosner Stocks
29 Aug 15 00:34:11
BWXT BWX Technologies, Inc. Filings http://t.co/oAu5lqfs6F $BWXT $HACK $GLD $YCS #BWXT #share #investing
29 Aug 15 00:34:10
CELG Celgene Corp. Bid http://t.co/2gHAbAFC4O $CELG $CDXS $GLD $BBRY #CELG #stocks #stocks
29 Aug 15 00:34:09
BGMD BG Medicine INc. Ask Size http://t.co/OT9H7L83tG $BGMD $DNAX $GLD $CFX.TO #BGMD #share #stockmarket
29 Aug 15 00:34:08
CBM Cambrex Corp. 52Wk High http://t.co/PJ9g1qOadK $CBM $EWJ $XLV $GLD #CBM #stockmarket #tradeideas
29 Aug 15 00:34:06
BWXT BWX Technologies, Inc. Company Info http://t.co/BzRsWPQz4I $BWXT $AC.TO $EXC $GLD #BWXT #pennystocks #nasdaq
29 Aug 15 00:34:05
BHRT Bioheart, Inc. 52Wk High http://t.co/DNyxIxIIU5 $BHRT $GLD $NFLX $LINE #BHRT #invest #pennystocks
29 Aug 15 00:32:37
ARP Atlas Resource Partners, LP Last Trade http://t.co/9f8Qah8iiS $ARP $GLD $FXY $LUV #ARP #tradeideas #finance
29 Aug 15 00:32:36
AXU Alexco Resource Corp. P/E Ratio http://t.co/ESavsGveii $AXU $GLD $AAPL $GPRO #AXU #invest #stockmarket
29 Aug 15 00:32:07
AIG American Intl Group, Inc. P/E Ratio http://t.co/cUNdif0Ykr $AIG $GLD $HACK $ERY #AIG #share #pennystocks
29 Aug 15 00:32:06
ADT ADT Corp. Market Cap http://t.co/i507owH01P $ADT $PXD $A $GLD #ADT #investing #pennystocks
29 Aug 15 00:32:05
AEZS AEterna Zentaris Inc. Shares http://t.co/IELYHFXLZj $AEZS $HD $XLV $GLD #AEZS #investing #pennystocks
29 Aug 15 00:32:04
ACI Arch Coal, Inc. Company Info http://t.co/A4XuGEuJfS $ACI $ABBV $DUST $GLD #ACI #stock #invest
Lucky Jimmy
29 Aug 15 00:31:15
AC.TO Air Canada Ideas http://t.co/WkO13fbGwk $AC.TO $EUM $INTC $GLD #AC.TO #nasdaq #invest
29 Aug 15 00:11:11
RT @tradingcrudeoil: Daily crude oil, natural gas, SP500, gold, dollar, coffee and sugar markets summary for Friday evening > http://t.co/B…
29 Aug 15 00:04:53
RT @lunatictrader1: Stocks remain in mild bearish mode. Gold and euro stagnate. #RevL Aug 31. $SPY $GLD $USO $TLT $EURUSD $FTSE $DAX http:/…
29 Aug 15 00:01:53
Stocks remain in mild bearish mode. Gold and euro stagnate. #RevL Aug 31. $SPY $GLD $USO $TLT $EURUSD $FTSE $DAX http://t.co/MYD9SJK5kC
By  +Follow June 28, 2013 12:20PM



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