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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
David Busick
28 Nov 14 06:27:35
My latest post @seeitmarket: Gold retreating from first key resistance level (more analysis here): http://t.co/qhuBXlJCVD by $GLD $GDX $GC_F
David Busick
28 Nov 14 06:26:03
RT @andrewnyquist: "Gold Futures Near Weekly Resistance" http://t.co/s1LfFLbU7R by @TheFibDoctor $GLD $GDX $GC_F ...Watching those levels t…
Bill Tsamis
28 Nov 14 06:24:25
$GDX Said this morning when it was $19.70s to look for $19.18 gap to fill (11/19). Hate it, but 11/5 gap of $16.59 may get filled too
John Constantine
28 Nov 14 06:20:32
Commented on StockTwits: "@southpawtrader: $JNUG $GC_F $GLD $NUGT $GDX $GDXJ may level out then to the top of th... http://t.co/udnPAgy5pP
Alexander Morris
28 Nov 14 06:15:42
$GDX: GapDN 0.81[-4.0%,fill:36%], PrvCl:20.10, PrvLo:20.04, 6NearLo, PrvCHi+, 59:6Accel-, tf:1000000, bigFlt:294M, p$vol:178.6M
Kirill Klip
28 Nov 14 06:13:02
RT @TNR_Gold: TNR Gold holds 0.4% NSR Royalty on the entire Los Azules Copper project McEwen Mining http://t.co/MNEZ8MDYYx $MUX $TRRXF $CU …
LouisLouie
28 Nov 14 06:12:47
“@D_ENGEL000: $GDX - http://t.co/b1Vamp9hyg http://t.co/rYioz8sXwb #stockcharts” $dust $jnug $jdst
The Stock Whisperer
28 Nov 14 05:58:40
Today's #HOT #Whisper Video is http://t.co/STwBRdcDaI $S $AMD $F $AGG $SPY $XLF $GDX
Sufiy
28 Nov 14 05:50:21
RT @TNR_Gold: TNR Gold holds 0.4% NSR Royalty on the entire Los Azules Copper project McEwen Mining http://t.co/MNEZ8MDYYx $MUX $TRRXF $CU …
BHIVE Mining News
28 Nov 14 05:47:52
RT @northernminer: African Barrick changes name, announces key initiatives http://t.co/SVtqgjBeCH #mining $GDX
bluebeecharts
28 Nov 14 05:46:24
$NUGT Sold my Wed $DUST, will wait for next set up. $GDX http://t.co/PkCtTDTi2a
TNR Gold Corp
28 Nov 14 05:12:24
TNR Gold holds 0.4% NSR Royalty on the entire Los Azules Copper project McEwen Mining http://t.co/MNEZ8MDYYx $MUX $TRRXF $CU $GDX
Bail O'Nomics
28 Nov 14 04:50:39
Citibank Gets Massive Gov't Bailout-Now Praises Fiat System http://t.co/uxaa9UK88G $GLD $JNUG $NUGT $GDX $ANY $IAG ABX $GG $GDXJ $ABX $GC_F
Bail O'Nomics
28 Nov 14 04:45:10
Swiss set for gold vote amid '6,000-year bubble' warning $GLD $JNUG $NUGT $GDX $ANY $IAG ABX $GG $GDXJ $ABX $GC_F http://t.co/20HceJXAhG
WeezyMiyagi
28 Nov 14 04:41:58
@MarcusM08 Not to mention 900% in $GDX puts after the World Series. This wolf kind of knows what he's doing.
Bail O'Nomics
28 Nov 14 04:38:12
How to Buy into a 6000 Yr Bubble $GLD $JNUG $NUGT $GDX $ANY $IAG ABX $GG $GDXJ $ABX $GC_F http://t.co/VPGFO2LBcY Black Friday Gold Sale
Bail O'Nomics
28 Nov 14 04:35:04
Swiss Vote Provokes 6000 Year #Gold Bubble Attack http://t.co/veRp3AGL8U $GLD $JNUG $NUGT $GDX $ANY $IAG ABX $GG $GOLD $GDXJ $ABX $GC_F
Bill Tsamis
28 Nov 14 04:30:11
$GDX gap fill $19.18....looking under $14 on $NUGT
pastclnt
28 Nov 14 03:32:13
Don't you have "trades besides $GDX, $NUGT, $JNUG?" I gave U $TSO, yet you R@ stubborn 2take the trade. Reversion: https://t.co/IfsH1jBwXL
pastclnt
28 Nov 14 03:24:41
@Sqwii (11/26/14): "I still believe gold and miners are going STRONG into year end $GDX $GLD $JNUG $GG $ABX"
pastclnt
28 Nov 14 03:22:15
@Sqwii "11/26/14: I still believe gold and miners are going STRONG into year end $GDX $GLD $JNUG $GG $ABX" @Treydingdong @ChrisKnuff
UK Bullion
28 Nov 14 02:39:12
RT @bordergold: #Gold enduring around $USD 1200 today on hints of slowing #Q4 http://t.co/C3xsppIjnl #Silver #Bullion #GLD $GDX
Stockaholics
27 Nov 14 23:36:58
Our Penny Stock Pick On $STTK Is Up 128.57% In 2 Days! Major Update: http://t.co/oR27rFfh2v $PZG $APOG $GDX
Stockaholics
27 Nov 14 21:46:26
Our Penny Stock Pick On $STTK Is Up 128.57% In 2 Days! Major Update: http://t.co/oR27rFfh2v $MDMT $COHO $GDX
scottbutters
27 Nov 14 21:08:38
$JNUG $GDX gold taking a big dump Turkey day. I'm thankful for my calls in $GDX this evening for sure. o.O
Wayne Nguyen
27 Nov 14 20:27:43
$GDX Just a different view of Miners http://t.co/vooMQzN3Ve
Wayne Nguyen
27 Nov 14 20:12:18
$GLD Long Term trend still bullish. ST low may be around 1000s. $GDX $JDST $JNUG http://t.co/ANyKCrqrvk
Wayne Nguyen
27 Nov 14 19:31:40
$JDST $GDX Could close the wk below resistance level, which means short term High. http://t.co/AjuJ7AXDpv
Stockaholics
27 Nov 14 17:57:56
Our Penny Stock Pick On $STTK Is Up 128.57% In 2 Days! Major Update: http://t.co/oR27rFfh2v $PZG $APOG $GDX
Robert Sullivan
27 Nov 14 17:53:18
$GLD $JNUG $GDX Gold on a line of support. Lets see if this support trendline can hold as Gold enters area of demand http://t.co/ZZrezS297C
Edward Gofsky
27 Nov 14 17:39:50
"@alphahunt: $GDXJ looking like we see a retest of the base B/O $GDX $GLD http://t.co/fzlDL2R4x2"
bluebeecharts
27 Nov 14 17:12:12
$GC_F $GLD $DUST $NUGT $GDX Gold futures red http://t.co/9MGJzWTBh4
Gavin Martinsson
27 Nov 14 16:10:21
Hey for all you #GOLD Bugs out there ahead of the Swiss Vote http://t.co/6pnTknUyva $GLD $GDX $GC_F
Stockaholics
27 Nov 14 15:47:45
Our Penny Stock Pick On $STTK Is Up 128.57% In 2 Days! Major Update: http://t.co/oR27rFfh2v $MDMT $COHO $GDX
TalkMarkets Recap
27 Nov 14 15:33:12
The Freak Show Is In Full Effect $GDX $GDXJ $LYDIF http://t.co/uDIPxnXWbS
Sufiy
27 Nov 14 15:00:02
RT @TNR_Gold: Kirill Klip.: Charles Nenner: “Gold Close To Major Bottom”. http://t.co/dEmLs8Wgl3 $GDX $GDXJ $HUI $GLD
Chris DeLaughter
27 Nov 14 14:18:37
@chessNwine $XLE is now the new $GDX
Mining HardAssets
27 Nov 14 14:16:08
RT @TNR_Gold: TNR Gold: Rob McEwen Webcast on Gold, McEwen Mining and Los Azules Copper. http://t.co/ZUCXM81Ba9 $GDX $GDXJ $MUX $TRRXF
PDAC
27 Nov 14 13:35:37
RT @northernminer: African Barrick changes name, announces key initiatives http://t.co/SVtqgjBeCH #mining $GDX
The Northern Miner
27 Nov 14 13:31:00
African Barrick changes name, announces key initiatives http://t.co/SVtqgjBeCH #mining $GDX
Stockaholics
27 Nov 14 13:20:52
Our Penny Stock Pick On $STTK Is Up 128.57% In 2 Days! Major Update: http://t.co/oR27rFfh2v $PZG $APOG $GDX
Sufiy
27 Nov 14 13:04:44
RT @TNR_Gold: TNR Gold: Rob McEwen Webcast on Gold, McEwen Mining and Los Azules Copper. http://t.co/ZUCXM81Ba9 $GDX $GDXJ $MUX $TRRXF
Raffaella DeFilippo
27 Nov 14 12:02:35
Commented on StockTwits: "@jackdamn: - Tom McClellan $GLD $GC_F $GDX http://t.co/htZYRLeGZq" http://t.co/DiL4Bicn1F
bluebeecharts
27 Nov 14 11:27:41
$GLD Wow! Projects down to $992, honor stops $DUST $NUGT $GDX http://t.co/kHCf6Y0oOH
Bail O'Nomics
27 Nov 14 11:08:00
No Save Our Swiss Gold vote already priced in $GLD $JNUG $JDSt $IAG $ANV $Gdx $NUGT $GDxj http://t.co/q6KXGa8c91
Ned Naylor-Leyland
27 Nov 14 11:04:23
RT @GreenMonsterah: “@SeekingAlpha: Fight For Physical #Gold Has Started (Just Like 1968) http://t.co/xgWM7NAlJP $GOLD” good read Ty $GLD $…
Art Vandelay
27 Nov 14 11:03:26
“@SeekingAlpha: Fight For Physical #Gold Has Started (Just Like 1968) http://t.co/xgWM7NAlJP $GOLD” good read Ty $GLD $GTU $CEF $GDX
Kirill Klip
27 Nov 14 09:57:14
RT @TNR_Gold: Kirill Klip.: Charles Nenner: “Gold Close To Major Bottom”. http://t.co/dEmLs8Wgl3 $GDX $GDXJ $HUI $GLD
Kirill Klip
27 Nov 14 09:56:47
RT @TNR_Gold: TNR Gold: Rob McEwen Webcast on Gold, McEwen Mining and Los Azules Copper. http://t.co/ZUCXM81Ba9 $GDX $GDXJ $MUX $TRRXF
Ani Anirudhan
27 Nov 14 09:23:58
$GDX bull flag. the crude oil crash is a big positive for gold miners as it reduces cost ... http://t.co/nSZ8PEste2
				
				
  +Follow August 20, 2013 10:02AM
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