logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


Gold ETFs Up on Tapering Fears; Higher Physical Demand

  +Follow August 20, 2013 10:02AM
Share:
Tickers Mentioned:

While gold is still down for the year, a perfect storm of tangible events and intangible fears are causing the precious metal to regain some of the value it has lost in the year.

The widespread assumption concerning the US federal stimulus program is that it will be “tapered off” from $85 billion a month to $65 billion. When and if this happens, demand will increase and domestic investors will seek to stash their wealth in the yellow metal.

Physical demand abroad is also driving up the price of gold. While analysts had been concerned that China’s meteoric rise could soon wane, or even start crashing, the country has reported better than expected trade numbers, keeping demand for metals up.

India, which has been adjusting to widespread corporate reform and a fast devaluing rupee, is preparing to enter a traditional gold-buying season which should prop up demand. The Hindi festival Raksha Bandhan began on Aug. 20, usually a healthy time for gold buying in the country.

On Aug. 19 gold hit a two month high, largely correcting a 23 percent drop experienced in the second quarter of 2013.

Gold ETFs fared well on gold’s surge. Market Vectors Gold Miners ETF ($GDX) gained 3.53 percent to hit $30.26 a share. PowerShares Global Gold and Precious Metals ($PSAU) gained 3.42 percent to hit $24.48 a share.

On Aug. 20 the New York-based ETF sponsor Direxion reverse split several of its ETFs , including one of the most popular gold mining ETFs, Direxion Daily Gold Miner Bull 3x Shares ($NUGT). The 10 to 1 reverse split raised the price of NUGT from $8.70 to $87.70 a share prior to trading. The ETF gained an additional 10.06 percent on the day to hit $96.34 a share.

Gold is  up .50 percent to hit $1,372.60 an ounce.

(image courtesy of Flickr)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for gdx
Ryan Smith
6 Jul 15 08:56:38
RT @valuewalk: Jeffrey Gundlach Is Long Gold With A $1400 Target http://t.co/rFYtSMiTZR $EEM $GLD $GDX http://t.co/gE1UKloeJU
Stockaholics
6 Jul 15 08:53:20
$SUTI Has Now Seen 400% Gains In The Past 2 Weeks! Special Update: http://t.co/l1zbyeWEGo $MDMT $COHO $GDX
TNR Gold Corp
6 Jul 15 08:43:06
RT @BerlandGroup: McEwen Mining and TNR Gold - Copper Prices Could Turn Red Hot Thanks To Alternative Energy. http://t.co/LRBTovwXdt $FCX $…
Kirill Klip
6 Jul 15 08:36:38
RT @TNR_Gold: Growing Asian Demand In Physical Gold And Its Impact On #Gold Prices. http://t.co/YPRQKSKfz5 $GDX $GDXJ $ABX $NEM $GG $TRRXF …
Domani Capital
6 Jul 15 08:19:27
RT @valuewalk: Jeffrey Gundlach Is Long Gold With A $1400 Target http://t.co/rFYtSMiTZR $EEM $GLD $GDX http://t.co/gE1UKloeJU
ValueWalk
6 Jul 15 08:19:10
Jeffrey Gundlach Is Long Gold With A $1400 Target http://t.co/rFYtSMiTZR $EEM $GLD $GDX http://t.co/gE1UKloeJU
BNK Invest
6 Jul 15 07:58:16
Video: $NUGT $LABU Big ETF Inflows $GDX $XBI #stocks http://t.co/hOozgTHiQr
Serge Berger
6 Jul 15 07:51:02
How about that move in the gold miners $GDX Gold also giddy...and this on an up-day for the dollar... http://t.co/q4DRjEdqYn
Prices Gold
6 Jul 15 07:47:34
#Gold Miners ETF GDX - last: $17.62 @ 10:32am EST 7/6/2015 http://t.co/4LixUkJ4ze $GDX
GoldMarketNews
6 Jul 15 07:47:33
#Gold Miners ETF GDX - last: $17.62 @ 10:32am EST 7/6/2015 http://t.co/N6axV1JUZ1 $GDX
Mark Freeman
6 Jul 15 07:35:32
$GLD update: $NUGT I am very bullish on $gold $gld $gdx $gdxj $jnug nice action today!
PT.Berland Internusa
6 Jul 15 07:28:51
McEwen Mining and TNR Gold - Copper Prices Could Turn Red Hot Thanks To Alternative Energy. http://t.co/LRBTovwXdt $FCX $GDX $GDXJ
Penny Stockington
6 Jul 15 07:28:33
$SUTI Has Gained 66.67%, Since Our Penny Stock Blog Alert! Huge News: http://t.co/llIxl7cUOL $PZG $APOG $GDX
Warren Puffett
6 Jul 15 07:27:08
$NUGT I am very bullish on $gold $gld $gdx $gdxj $jnug nice action today!
Stock Dawgzz
6 Jul 15 07:25:36
Our Platinum Subscribers Saw Their Penny Stock Alerts Gain Over 200% In 2 Weeks! Big Update: http://t.co/Lhta1yqlzk $PZG $APOG $GDX
StockenheimerSchmidt
6 Jul 15 07:18:48
Our Stock Pick On $PPCH Is Up 370% For Our Subscribers, Since Our Original Release At .02! Huge News: http://t.co/Ab9x726B1J $PZG $APOG $GDX
Stock Rocket
6 Jul 15 07:15:32
Our Penny Stock Newsletter Alerts Gained 200% In 2 Weeks! Get Our Next Pick Early: http://t.co/4eX1MHBloV $PZG $APOG $GDX
Stockaholics
6 Jul 15 07:13:15
$SUTI Has Now Seen 400% Gains In The Past 2 Weeks! Special Update: http://t.co/l1zbyeF3OQ $PZG $APOG $GDX
Tuan
6 Jul 15 07:09:51
$GLD $GDX if this does not reverse on Grexit then prob going down forever IMO..
fxsignals4pips
6 Jul 15 06:43:37
RT @DriveWealth: New symbols on #DriveWealth! $GDX $VNQ $AGG $EUM $PSQ $EWM $UUP $TIP $DBA $MUB $MBB $GLD $EPP $DBC $SHY $JNK $EMB $SHM $RS…
WealthEsteem.Org
6 Jul 15 06:28:08
$GDX:ASX 05:06 PM Outstanding Units/CDIs as at 30-Jun-15 http://t.co/tsvf5km8Wj
Kevin B. Bantz
6 Jul 15 06:23:18
Yearly $SPX $NIKKEI $TSLA $BNS $SSEC $XLU $GDX $GLD $XLP $XLV $XLF $XLY http://t.co/vhfvFOiSTD
TNR Gold Corp
6 Jul 15 06:23:18
McEwen Mining and TNR Gold - Copper Prices Could Turn Red Hot Thanks To Alternative Energy. http://t.co/i0nTdqvCsE $FCX $GDX $GDXJ
TNR Gold Corp
6 Jul 15 06:21:49
Growing Asian Demand In Physical Gold And Its Impact On #Gold Prices. http://t.co/YPRQKSKfz5 $GDX $GDXJ $ABX $NEM $GG $TRRXF $AUY
Stock Market Picks
6 Jul 15 06:18:44
$AGG $AMLP $DBC $UGAZ $DGAZ $DUST $EDZ $EEM $SPY $QQQ $EEM $GDX $VXX $EWJ $IWM Check our Market report about ETFs: http://t.co/4LO6XNFhOp
Penny Stockington
6 Jul 15 06:17:22
$SUTI Has Gained 66.67%, Since Our Penny Stock Blog Alert! Huge News: http://t.co/llIxl7cUOL $MDMT $COHO $GDX
Sufiy
6 Jul 15 06:15:30
RT @kirillklip: McEwen Mining and TNR Gold - Copper Prices Could Turn Red Hot Thanks To Alternative Energy. http://t.co/b61ECjoC4p $FCX $GD…
Sufiy
6 Jul 15 06:15:20
RT @kirillklip: Growing Asian Demand In Physical Gold And Its Impact On Gold Prices. http://t.co/UcKzYlcsd1 $GDX $GDXJ $ABX $NEM $GG $TRRXF…
Stocks Creamun
6 Jul 15 06:15:11
RT @tradewithjoe: day trading w/l - $SPY $QQQ $IWM $DIA $TLT $GLD $GDX $TSLA $AAPL $FB $AMZN $NFLX $PCLN $BABA $YHOO $GOOGL - http://t.co/x…
Stock Dawgzz
6 Jul 15 06:14:10
Our Platinum Subscribers Saw Their Penny Stock Alerts Gain Over 200% In 2 Weeks! Big Update: http://t.co/Lhta1yqlzk $MDMT $COHO $GDX
Stock Rocket
6 Jul 15 06:04:03
Our Penny Stock Newsletter Alerts Gained 200% In 2 Weeks! Get Our Next Pick Early: http://t.co/4eX1MHBloV $MDMT $COHO $GDX
James DiPlata
6 Jul 15 06:02:26
RT @tradewithjoe: Joe's favorite stock trading reports. $SPY $QQQ $DIA $IWM $GLD $GDX $AAPL $TSLA $USO $FB $TWTR $BABA $YHOO $UUP - http://…
James DiPlata
6 Jul 15 06:02:25
RT @tradewithjoe: day trading w/l - $SPY $QQQ $IWM $DIA $TLT $GLD $GDX $TSLA $AAPL $FB $AMZN $NFLX $PCLN $BABA $YHOO $GOOGL - http://t.co/x…
Stockaholics
6 Jul 15 06:01:51
$SUTI Has Now Seen 400% Gains In The Past 2 Weeks! Special Update: http://t.co/l1zbyeF3OQ $MDMT $COHO $GDX
tradewithjoe
6 Jul 15 06:00:01
Joe's favorite stock trading reports. $SPY $QQQ $DIA $IWM $GLD $GDX $AAPL $TSLA $USO $FB $TWTR $BABA $YHOO $UUP - http://t.co/ohq218DujR
Forex First Aids
6 Jul 15 05:57:34
RT @tradewithjoe: day trading w/l - $SPY $QQQ $IWM $DIA $TLT $GLD $GDX $TSLA $AAPL $FB $AMZN $NFLX $PCLN $BABA $YHOO $GOOGL - http://t.co/x…
tradewithjoe
6 Jul 15 05:45:00
day trading w/l - $SPY $QQQ $IWM $DIA $TLT $GLD $GDX $TSLA $AAPL $FB $AMZN $NFLX $PCLN $BABA $YHOO $GOOGL - http://t.co/xmN5ySZmt4
Market Int Center
6 Jul 15 05:21:37
Potential Market Vectors Gold Miners $GDX Trade Has 8.96% Downside Protection ( http://t.co/YohGqcXvsc )
tradewithjoe
6 Jul 15 05:00:03
What am I waking up to in the markets? $IWM $SPY $DIA $QQQ $IBB $TLT $UUP $USO $GDX $FXI - Will be a fun day trading options.
Kirill Klip
6 Jul 15 04:45:44
Growing Asian Demand In Physical Gold And Its Impact On Gold Prices. http://t.co/UcKzYlcsd1 $GDX $GDXJ $ABX $NEM $GG $TRRXF $AUY
Kirill Klip
6 Jul 15 04:39:57
McEwen Mining and TNR Gold - Copper Prices Could Turn Red Hot Thanks To Alternative Energy. http://t.co/b61ECjoC4p $FCX $GDX $GDXJ
john pagnotta
6 Jul 15 04:29:17
RT @SeekingAlpha: Precious Metals: Second Quarter Review And The Outlook For Q3 http://t.co/dtIEgtCzQt $GLD $SLV $GDX $GDXJ $IAU $AGQ $PSLV…
Stock Market Outlook
6 Jul 15 04:15:05
Precious Metals: Second Quarter Review And The Outlook For Q3 http://t.co/kl1Oqf6oHN $GLD $SLV $GDX $GDXJ $IAU $AGQ $PSLV $PHYS $USLV
Gold News
6 Jul 15 04:15:05
Precious Metals: Second Quarter Review And The Outlook For Q3 http://t.co/IzwjJn1kKM $GLD $SLV $GDX $GDXJ $IAU $AGQ $PSLV $PHYS $USLV
Seeking Alpha
6 Jul 15 04:15:04
Precious Metals: Second Quarter Review And The Outlook For Q3 http://t.co/dtIEgtCzQt $GLD $SLV $GDX $GDXJ $IAU $AGQ $PSLV $PHYS $USLV
Mining Metals Info
6 Jul 15 03:08:44
#Gold Real Time: 1163.80 -1.90 -0.16% 30daychg -8.50 -0.73% 1yrchg -156.70 -11.87% $GLD $GC_F $GDX $GDXJ $NUGT $DUST $JNUG $XAUUSD $SLV
Bob Loukas
6 Jul 15 03:07:36
I'm still short gold complex, given no reason to be bullish and Cycle moving towards ending phase. $GLD $GDX
Penny Stockington
5 Jul 15 23:51:06
$SUTI Has Gained 66.67%, Since Our Penny Stock Blog Alert! Huge News: http://t.co/llIxl7cUOL $PZG $APOG $GDX
Stock Dawgzz
5 Jul 15 23:49:52
Our Platinum Subscribers Saw Their Penny Stock Alerts Gain Over 200% In 2 Weeks! Big Update: http://t.co/Lhta1y8KaK $PZG $APOG $GDX
StockenheimerSchmidt
5 Jul 15 23:46:38
Our Stock Pick On $PPCH Is Up 370% For Our Subscribers, Since Our Original Release At .02! Huge News: http://t.co/Ab9x726B1J $PZG $APOG $GDX
				
				
  +Follow August 20, 2013 10:02AM
Share:

Comments

 

blog comments powered by Disqus

 

 Today's Must Reads

Microsegmentation: The Future of Cybersecurity?


How this Playboy Playmate Became a Better Stock Trader Than You

Long Term Rates Are On The Up…What’s Next?

The Modern Web: So Many Ways to Invest in Wireless Mobile Stocks

It's Time for the Rest of the Country to Legalize Weed

 

Do you expect a 10% correction by the end of 2015? in Equities.com Polls on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN