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Gold ETFs Up on Tapering Fears; Higher Physical Demand

  +Follow August 20, 2013 10:02AM
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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.


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Results for gdx
OTPicks.com
17 Sep 14 18:16:25
http://t.co/hjgLwIcNgz danrocks: $GRCU Buzz $GDX $HNU.TO $AVNR $AXP $ELTP: danrocks http://t.co/nK1JCWe7Yd http://t.co/hjgLwIcNgz
OTPicks.com
17 Sep 14 18:16:23
http://t.co/QkCFZ8H3V8 danrocks: $GRCU Buzz $GDX $HNU.TO $AVNR $AXP $ELTP: danrocks http://t.co/cEXxMvTV5n http://t.co/QkCFZ8H3V8
Dee
17 Sep 14 17:27:20
RT @nobullshytrader: shortwatch for 9/18 $FFIV $FIVE $SSYS $VRA $PANW $INTC $MNK $KSS $YHOO $FDX $X $AVNR longwatch $GLD $GDX $RIG $SWHC $S…
Colin Macleod
17 Sep 14 17:04:22
6 MUST WATCH Charts in Free-Fall & Breaking down today http://t.co/P0N43O8Xng $ATVI $RIG $SFUN $GDX $GLD $AUY
nobullshytrader
17 Sep 14 16:57:41
shortwatch for 9/18 $FFIV $FIVE $SSYS $VRA $PANW $INTC $MNK $KSS $YHOO $FDX $X $AVNR longwatch $GLD $GDX $RIG $SWHC $SLV $USLV $VHC $ATVI
Gold'n'Gold
17 Sep 14 16:31:34
RT @TomLydon: Reason for Optimism With #Miners ETFs http://t.co/SjwVu0n0up #ETF #gold #bullion #mining $GLD $GDX $GDXJ
ETF Trends
17 Sep 14 16:20:20
Reason for Optimism With #Miners ETFs http://t.co/EZiJ6UI9Aa #ETF #gold #bullion #mining $GLD $GDX $GDXJ
Tom Lydon
17 Sep 14 16:15:56
Reason for Optimism With #Miners ETFs http://t.co/SjwVu0n0up #ETF #gold #bullion #mining $GLD $GDX $GDXJ
Stock Rocket
17 Sep 14 16:14:08
$NETE Gained 551.93% In The Past 6 Weeks! Major News: http://t.co/PU7GW934W5 $MDMT $COHO $GDX
Livermore's Lounge
17 Sep 14 16:02:04
“@Aoyon_A: Guess what happened to #gold in that last 10 mins of trading! $GLD $GDX http://t.co/sN2KGjq9Cg” RT
Stock Rocket
17 Sep 14 14:59:11
$NETE Gained 551.93% In The Past 6 Weeks! Major News: http://t.co/h5N34SPJ6o $PZG $APOG $GDX
Mark Freeman
17 Sep 14 14:37:27
$GLD update: $GLD $gdx $slv $jnug $gdxj everybody is so certain the metals will break down. When have the metals broken down before the equi
OTPicks.com
17 Sep 14 14:20:56
http://t.co/hjgLwIcNgz DennyT: GDX Company Profile $GDX $GPRO $SH $CIG $MCD: DennyT http://t.co/ea58XXI0a4 http://t.co/hjgLwIcNgz
Chasing Stars
17 Sep 14 14:18:04
$INOH Ask Click Here: http://t.co/SLNAukuODi Also See: $GDX $ILMN $SDS $CHL ~
Victor Riesco
17 Sep 14 14:09:29
$GDX $GDXJ $GLD breaking down today. I tried a few trades here in early Aug mostly without success. Now it seems they back trending down.
OptionsPlay
17 Sep 14 13:51:40
$GDX Expecting this to move to at least $22 support area http://t.co/dZzi4BVKFm
Stock Rocket
17 Sep 14 13:45:24
$NETE Gained 551.93% In The Past 6 Weeks! Major News: http://t.co/PU7GW934W5 $MDMT $COHO $GDX
Top ETF Funds
17 Sep 14 13:25:20
Reason for Optimism With Miners ETFs.. http://t.co/rk7FoU12MN $GDX #ETF #ETFs #Stocks
BNK Invest
17 Sep 14 13:25:08
$SLW Crosses Critical Technical Indicator $GDX #gold #silver #metals http://t.co/ZjnEFlR1wB
Prices Gold
17 Sep 14 13:18:20
#Gold Miners ETF GDX - last: $23.43 @ 4:00pm EST 9/17/2014 http://t.co/ukEj26xLYn $GDX
GoldMarketNews
17 Sep 14 13:18:06
#Gold Miners ETF GDX - last: $23.43 @ 4:00pm EST 9/17/2014 http://t.co/1xK9rhHkJ3 $GDX
Miningfinance
17 Sep 14 13:09:43
trdwatch: $GDX also has one more to go just http://t.co/zZv2BhaACf
DNA Precious Metals
17 Sep 14 13:09:40
trdwatch: $GDX also has one more to go just http://t.co/043MgAJcI5
528mining
17 Sep 14 13:09:40
trdwatch: $GDX also has one more to go just http://t.co/n7SP2qT7K5
Paul Schatz
17 Sep 14 13:00:30
Gold takes Fed news as hawkish. Sellers stampede out in size, stopping me out of $GDX as well. Well that was quick!
Danny
17 Sep 14 12:57:17
Gold bugs getting hammered today. $GC_F $GDX $GDXJ
Anthony Allyn
17 Sep 14 12:48:23
Let's back-test the blue line for starters - assuming this is a wave 4/C. $GDX http://t.co/99MI5D9K1s
Native Texan 2.0
17 Sep 14 12:45:50
There's a small gap in $GDX which fills at $23.41.
Danny
17 Sep 14 12:44:40
And LOLZ for the day goes to gold stocks. $GDX $GDXJ
sam
17 Sep 14 12:40:14
$GDX probably gonna test june low in the next 2 months.
OTPicks.com
17 Sep 14 12:30:56
http://t.co/stbZjDRYAm danrocks: $AXAS On Radar $VNQ $CMG $AAPL $GDX $GLL: danrocks http://t.co/jqJRiwjv3Z http://t.co/stbZjDRYAm
OTPicks.com
17 Sep 14 12:30:54
http://t.co/QkCFZ8H3V8 danrocks: $AXAS On Radar $VNQ $CMG $AAPL $GDX $GLL: danrocks http://t.co/9EhH2Mmqx5 http://t.co/QkCFZ8H3V8
ETF Trends
17 Sep 14 12:27:11
A Popular ETF Will Take Some $BABA, Rush to Brazil #ETFs, An ETF for Stock Splits, Miners $EWZ $GDX $FPX $GDXJ http://t.co/RTrg8OXbge
Tuan
17 Sep 14 12:25:45
$GLD $GDX wow what is the value of this stuff...
Rosner Stocks
17 Sep 14 12:19:56
$CEHC Dividend Click Here: http://t.co/XuoKOCJeHf Also See: $DIGX $VHC $GDX $XIV ~
Investors Hangout
17 Sep 14 12:09:47
$CEHC EOD Data Click Here: http://t.co/5ae3RL7Xu5 Also See: $SMH $S $GDX $BBRD ~
Native Texan 2.0
17 Sep 14 12:03:30
$GLD $GDX $NUGT, damn, sellers still controlling the action it appears.
San
17 Sep 14 12:03:06
GOLD Trend update: http://t.co/EXnzZp44YO $GC_F $GLD $GDX
Evener Investment
17 Sep 14 12:01:38
RT @SeekingAlpha: Gold ETFs Lacking Bullish Catalysts http://t.co/42tBxESB8G $GLD $GDX
Seeking Alpha
17 Sep 14 11:55:44
Gold ETFs Lacking Bullish Catalysts http://t.co/42tBxESB8G $GLD $GDX
Hard Assets Investor
17 Sep 14 11:54:35
Buy Gold Stocks That Have Underperformed & Have Catalysts #gold $GDX $GDXJ http://t.co/WTxOf3i0Xz
Stockaholics
17 Sep 14 11:52:40
$RSII gained 150% in 4 days! Get our top penny stock picks early: http://t.co/iSqL7zgTT1 $MDMT $COHO $GDX
John Turner
17 Sep 14 11:49:19
I actually think $Gld and $GDX show some buying on the dip right here!
Johnny Ca$h
17 Sep 14 11:24:24
After #FOMC: $GG spike lower, now higher $GLD spike lower, reclaimed half I think $GDX (miners) is the better bet.
Calvin So
17 Sep 14 11:24:23
RT @Aoyon_A: Guess what happened to #gold in that last 10 mins of trading! $GLD $GDX http://t.co/yAOUDbyf6F
Bloomberg Canada
17 Sep 14 11:24:05
RT @Aoyon_A: Guess what happened to #gold in that last 10 mins of trading! $GLD $GDX http://t.co/yAOUDbyf6F
Karen K. Ho
17 Sep 14 11:24:04
RT @Aoyon_A: Guess what happened to #gold in that last 10 mins of trading! $GLD $GDX http://t.co/yAOUDbyf6F
Stefanie Batcho-Lino
17 Sep 14 11:22:46
RT @Aoyon_A: Guess what happened to #gold in that last 10 mins of trading! $GLD $GDX http://t.co/yAOUDbyf6F
Kirk Kornegay
17 Sep 14 11:19:26
$GDXJ $GDX the miners may squeeze here with any more upside pressure $GLD $JDST $JNUG
Klondike Strike
17 Sep 14 11:12:06
RT @Aoyon_A: Guess what happened to #gold in that last 10 mins of trading! $GLD $GDX http://t.co/yAOUDbyf6F
				
				
  +Follow August 20, 2013 10:02AM
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