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)

Results for gdx
GoldMarketNews
17 Apr 14 11:33:16
#Gold Miners ETF GDX - last: $23.68 @ 2:17pm EST 4/17/2014 http://t.co/EyViQtPl8s Check http://t.co/xghwszwIJI $GDX
Prices Gold
17 Apr 14 11:33:16
#Gold Miners ETF GDX - last: $23.68 @ 2:17pm EST 4/17/2014 http://t.co/47IslxpLdO Check http://t.co/8QhSvl1oQg $GDX
JeffBSF
17 Apr 14 11:13:56
PMs across the board remain at bottom of relative rankings - and seem to be losing the shorter term positives at this point. $GLD $GDX
JS3 Multimedia
17 Apr 14 10:50:39
Commodities Report 04/17: #Oil hold steady at weekly highs while precious metals dip on Ukraine $GDX $GLD $SLV #crude http://t.co/QLahkPFKCQ
James Sweeney
17 Apr 14 10:50:39
Commodities Report 04/17: #Oil hold steady at weekly highs while precious metals dip on Ukraine $GDX $GLD $SLV #crude http://t.co/aygBTqz5QR
AskModernWallStreet
17 Apr 14 10:50:38
Commodities Report 04/17: #Oil hold steady at weekly highs while precious metals dip on Ukraine $GDX $GLD $SLV #crude http://t.co/09RHx2LG6s
Prices Gold
17 Apr 14 10:33:34
#Gold Miners ETF GDX - last: $23.71 @ 1:16pm EST 4/17/2014 http://t.co/Nts8oJ3WNd Check http://t.co/8QhSvl1oQg $GDX
GoldMarketNews
17 Apr 14 10:33:05
#Gold Miners ETF GDX - last: $23.71 @ 1:16pm EST 4/17/2014 http://t.co/KMFdr6Eou4 Check http://t.co/xghwszwIJI $GDX
Hard Assets Investor
17 Apr 14 10:26:38
Van Eck’s Foster: Gold Formed Base At $1,200, A Big Plus For Miners Going Forward $GLD $GDX $GDXJ $IAU #gold http://t.co/7H4jUqGK8u
Tuan
17 Apr 14 10:08:17
$GDX another close below 24 today would confirm bear flag..
Anthony Allyn
17 Apr 14 10:08:00
cleaned up the short term $GDX http://t.co/aOs3MrMPDI
Tuan
17 Apr 14 09:41:18
$GDX $NUGT lets do this!
Prices Gold
17 Apr 14 09:31:39
#Gold Miners ETF GDX - last: $23.81 @ 12:15pm EST 4/17/2014 http://t.co/3DAiQjjPon Check http://t.co/8QhSvl1oQg $GDX
Stock_Tracker
17 Apr 14 08:47:27
$GDX News Wash, rinse and repeat the Wall Street spin cycle 5:03 p.m. April 14, 2014 - Dave Fry What the worst http://t.co/7wnbqTxMpv
GoldMarketNews
17 Apr 14 08:30:34
#Gold Miners ETF GDX - last: $23.821 @ 11:15am EST 4/17/2014 http://t.co/KlR834IrBD Check http://t.co/QtUm3Ucu54 $GDX
iHangout
17 Apr 14 08:09:39
danrocks: ALERTS, HOT STOCKS & CHARTS: $XLB Showing on my streamers $PFE $KO $FXI $GDX $U http://t.co/brYgZolE8X
danrocks
17 Apr 14 08:05:01
$XLB Showing on my streamers $PFE $KO $FXI $GDX $UTRM http://t.co/SfHKVqUjvC
lookn4wins
17 Apr 14 08:02:46
$LIVE 200 Simple Moving Average $LIVE Most recent stock chart and technical analysis. $GDX $KRE $NOK $GDX $ANV http://t.co/J6f28qkrh4
Bruce J Moschella
17 Apr 14 07:57:56
Commented on StockTwits: i want to see Gold test lower before we can say we are headed to 1400-1500 $GC_F $GLD $GDX. http://t.co/wC7UAo6t4T
MĨ`ÇĤÈLÈRÈÑÈ`
17 Apr 14 07:49:30
RT @HAInvestor: No End In Sight For China’s Voracious Appetite For Gold #gold #china $GLD $GDX http://t.co/hUa68afkzV
dalestrnad
17 Apr 14 07:45:41
$JOEZ is still way oversold trading at 1.07, analysts calling for $1.30. $spy $gdx $ung $aapl
Lisa Cantu
17 Apr 14 07:42:12
RT @GoldMarketNews: #Gold Miners ETF GDX - last: $23.77 @ 10:13am EST 4/17/2014 http://t.co/rXLyCdOdG8 Check http://t.co/xghwszwIJI $GDX
GoldMarketNews
17 Apr 14 07:30:11
#Gold Miners ETF GDX - last: $23.77 @ 10:13am EST 4/17/2014 http://t.co/rXLyCdOdG8 Check http://t.co/xghwszwIJI $GDX
R
17 Apr 14 07:25:05
"@BotMuncher: $GDX and the bearish chart. $GLD needs 2 hold > 1280 imo or the bank animals come out to eat http://t.co/4xJCQ9puBH" $DUST
danrocks
17 Apr 14 07:18:35
$GDX On Alert $DGRI $XHB $ARTX $TTDZ $FXI http://t.co/NYl4HrywRP
MnTrader
17 Apr 14 07:12:54
Inverse miners sporting potential to make it rain again. $JDST $DUST $GDX http://t.co/91nFJ9mavg
Avida Capital
17 Apr 14 07:07:43
"$DBC hit the top reversal T125. Careful short term $GLD. $GDX $NUGT $DUST $GDXJ http://t.co/w6eRvNs2LH " Nice work.
Tuan
17 Apr 14 06:41:35
$GDX $NUGT good morning gold bugs!
CABuyer
17 Apr 14 06:40:35
$GDX First Majestic Silver Is Hedging Lead Production http://t.co/ZAPLGSzhGF
nextbigtrade
17 Apr 14 06:40:07
I follow quite a few gold market analysts and not one is short term bullish on gold $GLD $GDX
TheTechnicalTraders
17 Apr 14 06:26:25
VIDEO: How to Momentum Trade Gold & Silver Stocks: http://t.co/88F45zpXEj $GDX $GDXJ $NUGT $AGQ $SIL
Foghorn returns
17 Apr 14 06:21:58
"@ETFDailyNews: Gold Stocks To Buy When The Market Crashes $ABX $GG $NEM $FCX $GDX http://t.co/j8v0kbTEVJ"
ETFguide.com
17 Apr 14 06:00:16
VIDEO: A Technical Look: How to be long #gold at the right time w/Chad Karnes @etfguide http://t.co/Yhy5oXxZLL $GLD $NUGT $GLTR $GDX $GDXJ
R.Cheshire
17 Apr 14 04:17:32
is $GDX setup for a swooosh lower? it looks vulnerable, like Obama. http://t.co/3W8XVZBa5V
World Gold Council
17 Apr 14 04:07:32
RT @HAInvestor: No End In Sight For China’s Voracious Appetite For Gold #gold #china $GLD $GDX http://t.co/hUa68afkzV
Paul
17 Apr 14 04:04:24
#Gold futures bleeding out this a.m. $JDST $DUST $JNUG $NUGT $GDX $GDXJ $GLD $GC_F
MasterChartsTrading
17 Apr 14 03:27:17
Still No Buy Signal http://t.co/5LZLluniF7 $SPY $TLT $GLD $GDX $DUST $QQQ $UNG $USO #stocks #gold #marketbreadth http://t.co/87phSdF1zF
CABuyer
17 Apr 14 00:24:25
$GDX Gold Climbs Following Yellen Speech, Ukraine Worries; Oil Slips On Supply Glut http://t.co/D5tpDslmcD
Foghorn returns
17 Apr 14 00:06:14
"@crudeoiltrader: Doug Casey’s Coming Super Bubble > http://t.co/R9XgxO6Pg0 $GLD $GDX $GDXJ $IAU"
Avida Capital
16 Apr 14 23:34:05
$DBC hit the top reversal T125. Careful short term $GLD. $GDX $NUGT $DUST $GDXJ http://t.co/YfVQ1ZSgOu from http://t.co/tIVvTnhCEr
CABuyer
16 Apr 14 22:21:19
$GDX Gold and Silver Report: AUY, AEM Stock Drop on Joint Osisko Bid http://t.co/Kz6k5L9HOa
ValueWalk.com
16 Apr 14 20:48:37
Silver Market, Silver Price Manipulation: David Morgan http://t.co/LJeuYaYxDZ $SLV $GLD $GDX $FXI $MACRO
Gold ETF Trader
16 Apr 14 20:29:45
Doug Casey’s Coming Super Bubble $GLD $IAU $GDX $GDXJ http://t.co/X9tdxP6kb0
ValueWalk.com
16 Apr 14 20:21:00
One Year Anniversary Day for the April Gold Massacre http://t.co/BJCaDNz0nj $GLD $GDX $FXI $MACRO http://t.co/Hfs74z2t9R
Tuan
16 Apr 14 15:46:55
$GLD $GDX should see nice rotation on $QQQ crapping out after hours...
Kohen Dean
16 Apr 14 15:37:21
$GDX Russian Adventurism Creat http://t.co/sfWgJFIAhy
KAVEH ILKHANIPOUR
16 Apr 14 15:37:18
"@crudeoiltrader: Doug Casey’s Coming Super Bubble > http://t.co/Lzub61ogIr $GLD $GDX $GDXJ $IAU"
Nat Gas
16 Apr 14 14:56:10
Doug Casey’s Coming Super Bubble > http://t.co/z21JMSjgmk $GDX $GDXJ $GLD $IAU
GoldMarketNews
16 Apr 14 14:16:09
#Gold Miners ETF GDX - last: $23.80 @ 4:00pm EST 4/16/2014 http://t.co/czMUXcPP1f Check http://t.co/xghwszwIJI $GDX
Prices Gold
16 Apr 14 14:16:08
#Gold Miners ETF GDX - last: $23.80 @ 4:00pm EST 4/16/2014 http://t.co/MMRnvsy4iV Check http://t.co/8QhSvl1oQg $GDX
				
				
  +Follow August 20, 2013 10:02AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

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