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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
Biz News Pioneer
27 Aug 14 19:21:16
$GDX: More Pain or Gain for the Miners? http://t.co/VSx1CWBIYZ http://t.co/zNUvkK3WdN
Patrick
27 Aug 14 19:00:04
10 + Sentiment Shifted Stocks: $IGN $REX $ISIS $CMG $GDX $N $WMT $TVIX $ICPT $BMO
Swing Trade Alerts
27 Aug 14 18:52:57
CNBC:FINAL TRADE: Your first move for Thursday, Aug. 28 http://t.co/o7k8HdcW9A $PFE $DOW $WFT $GDX http://t.co/j8p6bQvnB1
Patrick
27 Aug 14 18:00:04
10 + Sentiment Shifted Stocks: $REX $IGN $ISIS $GDX $CMG $ICPT $INVE $TVIX $BMO $NEM
Patrick
27 Aug 14 17:00:04
10 + Sentiment Shifted Stocks: $REX $IGN $GDX $CMG $ISIS $ICPT $TVIX $INVE $GDXJ $BMO
FlowerPower
27 Aug 14 16:46:58
#FastMoneyEspresso FINAL TRADES: Pete Najarian —> buy $PFE Dr J —> buy $DOW Brian Kelly —> buy $GDX Guy Adami —> buy $WFT
Edward Gofsky
27 Aug 14 16:31:02
RT @PeterLBrandt: $GDX Decisive close above 28.70, confirmed by bullion, will confirm bottom in miners. $GLD, $GC_F http://t.co/pJrVwm2hsx
Edward Gofsky
27 Aug 14 16:28:35
RT @chart_freak: $SPX $IWM $RUT $DIA various trade ideas and tons of charts in my new report at http://t.co/YzYcTnrVoc $VJET $GDX $GLD $JRJ…
Investors Hangout
27 Aug 14 16:27:28
$BTU Volume http://t.co/Ge1NPbq71m Also See: $T $GDX $MTVX $AMD ~
Companies in News
27 Aug 14 16:21:14
$GDX: More Pain or Gain for the Miners? http://t.co/9tygEGLsxh http://t.co/C17UpMeURS
Rosner Stocks
27 Aug 14 16:20:52
$BNS.TO Exchange http://t.co/qRsw5cmTy5 Also See: $NFLX $GDXJ $FB $GDX ~
The Gold Forecast
27 Aug 14 16:20:34
New #gold Forecast Daily Report is out - Let's Get Fiscal http://t.co/3OGcHFvvFy $gld $gold $gdx $nugt
Rosner Stocks
27 Aug 14 16:12:04
Rosner: GDX Market Vectors ETF Trust $GDX Company http://t.co/di3HzH9tz9
Langan Stocks
27 Aug 14 16:06:36
Rosner: GDX Market Vectors ETF Trust $GDX Company http://t.co/bYuYR1HiCf
ENRIQUE SANTIAS
27 Aug 14 16:01:09
RT @CNBCFastMoney: FINAL TRADE: Your first move for Thursday, Aug. 28 http://t.co/OevaS1yZQp $PFE $DOW $WFT $GDX http://t.co/rVc4ryggJ6
CNBC's Fast Money
27 Aug 14 16:00:19
FINAL TRADE: Your first move for Thursday, Aug. 28 http://t.co/OevaS1yZQp $PFE $DOW $WFT $GDX http://t.co/rVc4ryggJ6
Bruno J. Navarro
27 Aug 14 16:00:19
FINAL TRADE: Your first move for Thursday, Aug. 28 http://t.co/ncOfJpIq9g $PFE $DOW $WFT $GDX http://t.co/MNWoSzsm0z
Patrick
27 Aug 14 16:00:04
10 + Sentiment Shifted Stocks: $GDX $REX $CMG $IGN $ISIS $ICPT $TVIX $INVE $BMO $GDXJ
Top ETF Funds
27 Aug 14 15:55:52
[video] Gold miners outshine gold.. http://t.co/4WTEru1YzZ $GDX #ETF #ETFs #Stocks
Top ETF Funds
27 Aug 14 15:55:36
[video] Fast Money Final Trade: PFE, GDX, DOW, WFT.. http://t.co/uiT5PSEkat $GDX #ETF #ETFs #Stocks
Top ETF Funds
27 Aug 14 15:55:19
Your first trade for Thursday.. http://t.co/rYyX2WlS9s $GDX #ETF #ETFs #Stocks
The American
27 Aug 14 15:53:03
$SILVER USE -Ralph Lauren to Introduce Wearable Technology And Not The Only One A Trend http://t.co/j2W7qOSqWt @NYT $RL $UA $SLV $SLW $GDX
Prices Gold
27 Aug 14 15:48:35
#Gold Miners ETF GDX - last: $26.11 @ 4:00pm EST 8/27/2014 http://t.co/CXpzac0y5O $GDX
GoldMarketNews
27 Aug 14 15:48:35
#Gold Miners ETF GDX - last: $26.11 @ 4:00pm EST 8/27/2014 http://t.co/x7hRUR1oCw $GDX
Art Vandelay
27 Aug 14 15:36:30
RT @PeterLBrandt: $GDX Decisive close above 28.70, confirmed by bullion, will confirm bottom in miners. $GLD, $GC_F http://t.co/pJrVwm2hsx
Investors Hangout
27 Aug 14 15:31:40
$AXP Current Price http://t.co/o08owfz3ZQ Also See: $ERBB $PBR $INFN $GDX ~
Wall Street News
27 Aug 14 15:21:14
$GDX: [video] First Eagle's gold miner's view http://t.co/5axyOKwljZ http://t.co/X8Kvz18ALi
Investors Hangout
27 Aug 14 15:15:18
$ATHM Investor Opinions http://t.co/y8iDEtEUEX Also See: $EFA $GDX $MYEC $SLV ~
Direxion LETFs
27 Aug 14 15:10:14
Did you know the California Gold Rush (1848–1855) began on January 24, 1848? $NUGT $DUST $GDX
Michael Levy
27 Aug 14 15:01:57
RT @PeterLBrandt: $GDX Decisive close above 28.70, confirmed by bullion, will confirm bottom in miners. $GLD, $GC_F http://t.co/pJrVwm2hsx
Patrick
27 Aug 14 15:00:03
10 + Sentiment Shifted Stocks: $REX $GDX $IGN $ISIS $CMG $ICPT $GDXJ $INVE $TVIX $QUAD
Patrick
27 Aug 14 14:00:04
10 + Sentiment Shifted Stocks: $REX $GDX $IGN $CMG $ISIS $GDXJ $QUAD $TVIX $TKMR $ICPT
Carol Chen, CFA
27 Aug 14 13:47:16
$XAU/$GLD 3-wave ascending channel. Time to wake up? $GDXJ $NUGT $GDX http://t.co/IDyIqaDrlM
Top ETF Funds
27 Aug 14 13:24:20
Gold Futures Inch Lower Amid Wavering Demand.. http://t.co/5fYpwldQOA $GDX #ETF #ETFs #Stocks
Financial Updates
27 Aug 14 13:21:14
$GDX: 3 Reasons to Buy the Market Vectors Gold Miners ETF (GDX) http://t.co/I9dvtnTgbn http://t.co/ePryna1oQf
Sufiy
27 Aug 14 13:08:38
RT @TNR_Gold: Jim Puplava: The Swiss Gold Initiative With Luzi Stamm, Member of the Swiss National Council $TNR.v $MUX $GLD $GDX http://t.…
Blair Jensen
27 Aug 14 13:03:03
RT @_TradeFollowers: Buy signal for $GDX from StockTwits momentum still hanging in there. Twitter signal closed. $GLD http://t.co/uN8xD101Ig
Dany
27 Aug 14 13:02:00
RT @_TradeFollowers: Buy signal for $GDX from StockTwits momentum still hanging in there. Twitter signal closed. $GLD http://t.co/uN8xD101Ig
Patrick
27 Aug 14 13:00:04
10 + Sentiment Shifted Stocks: $REX $IGN $ISIS $GDX $CMG $QUAD $TKMR $ICPT $TVIX $F
Trade Followers
27 Aug 14 12:54:34
Buy signal for $GDX from StockTwits momentum still hanging in there. Twitter signal closed. $GLD http://t.co/uN8xD101Ig
GoldMarketNews
27 Aug 14 12:48:07
#Gold Miners ETF GDX - last: $26.21 @ 3:32pm EST 8/27/2014 http://t.co/7XdKfqdQCg $GDX
Prices Gold
27 Aug 14 12:48:07
#Gold Miners ETF GDX - last: $26.21 @ 3:32pm EST 8/27/2014 http://t.co/N569pcBCXQ $GDX
Patrick
27 Aug 14 12:00:04
10 + Sentiment Shifted Stocks: $REX $IGN $GDX $CMG $ISIS $TKMR $QUAD $TVIX $S $CAD
Kirill Klip
27 Aug 14 11:56:20
RT @TNR_Gold: Jim Puplava: The Swiss Gold Initiative With Luzi Stamm, Member of the Swiss National Council $TNR.v $MUX $GLD $GDX http://t.…
Seeking Alpha
27 Aug 14 11:23:45
Franco Nevada Is A Buy Under $55 A Share - Here's Why http://t.co/pUmmCYHNd6 $ABX $AUY $GDX $GEO $FNV
Stock News Guru
27 Aug 14 11:21:13
$GDX: Today's Thorns, Roses, and All-Time Highs... http://t.co/BtWuX0GIsm http://t.co/LIseT04QG4
PolgarStocks
27 Aug 14 11:13:08
$SH Stock Forum http://t.co/D3x78cTm5Y Also See: $GDX $AAPL $DSW $DIA ~
El Matador Trader
27 Aug 14 11:12:08
Miners showing strength. Won't be surprised a strong $GDX run over-performing $GLD and $SLV. They are lean, mean, drilling machines $GDXJ
smtrader StockTrader
27 Aug 14 11:08:50
gold miners are back in the green for the day! $GDX $GDXJ $GLD
Patrick
27 Aug 14 11:00:03
10 + Sentiment Shifted Stocks: $REX $CMG $QUAD $IGN $ISIS $TKMR $GDX $S $T $SPX
				
				
  +Follow August 20, 2013 10:02AM
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