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.


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

Results for gdx
SmallCapPicks
22 Dec 14 05:48:16
RT @UPBOptionMil: $GLD $GDX $GDXJ $NUGT Gold and Gold Miners to fall further in 2015? http://t.co/Tv1rHOYxKb
Stockaholics
22 Dec 14 05:39:48
After 285% Gain on $STTK in 5 days, A New Penny Stock Pick Is Coming Today! Get it early: http://t.co/tgDaMrXAvx $MDMT $COHO $GDX
Richard Hue
22 Dec 14 05:35:22
Has #Gold Stabilized? | Making A Case For The Seasonal Rally In Gold $GLD $GDX $GDXJ http://t.co/QQX7YuLdNw
Market Int Center
22 Dec 14 05:34:10
Potential Market Vectors Gold Miners $GDX Trade Has 15.11% Downside Protection ( http://t.co/y9awgw0PXm )
Scott Smith
22 Dec 14 05:23:21
$GDX $NUGT Suggesting weakness (dead cat bounce likely as posted last week) confirming. $GLD $NUGT $JNUG $GDXJ $GC_F http://t.co/Tg3odE0TtK
Perfor Mance
22 Dec 14 05:22:08
Option Millionaires: uranium-pinto-beans: $GLD $GDX $GDXJ $NUGT Gold and Gold Miners http://t.co/0Q4yQVqeOM
UPBOptionMil
22 Dec 14 05:11:40
$GLD $GDX $GDXJ $NUGT Gold and Gold Miners to fall further in 2015? http://t.co/Tv1rHOYxKb
The American
22 Dec 14 03:56:30
$CHINA To Help $RUSSIA With Currency Troubles $XRU $RSX $RUSL $RUSS $RSXJ $FXI $CAF $PEK $CYB $CNY $UWTI $USDRUB $OIL $UUP $GDX $GDXJ $GLD
The American
22 Dec 14 03:14:57
$CHINA To Help $RUSSIA With Currency Troubles http://t.co/C487TjY7O6 $RSX $RUSL $RUSS $RSXJ $FXI $CAF $PEK $CYB $UWTI $USDRUB $OIL $UUP $GDX
GoldMarketNews
22 Dec 14 02:54:27
#Gold Miners ETF GDX - last: $18.40 @ 4:00pm EST 12/19/2014 http://t.co/KoVuI7XsQf $GDX
Prices Gold
22 Dec 14 02:54:10
#Gold Miners ETF GDX - last: $18.40 @ 4:00pm EST 12/19/2014 http://t.co/3iCBMkMVsy $GDX
Greg Kahn
22 Dec 14 00:28:36
@jimcramer morning Jim. Would you consider a small % of portfolio in $gg & $gdx ? Cheers
Stockaholics
21 Dec 14 23:24:10
After 285% Gain on $STTK in 5 days, A New Penny Stock Pick Is Coming Tomorrow! Get it early: http://t.co/tgDaMrXAvx $PZG $APOG $GDX
Stockaholics
21 Dec 14 21:17:57
After 285% Gain on $STTK in 5 days, A New Penny Stock Pick Is Coming Tomorrow! Get it early: http://t.co/tgDaMrXAvx $MDMT $COHO $GDX
theNose
21 Dec 14 20:45:28
For this week, we will be watching px action for entry points on: Short: $AAPL, $IBM, $LC / Long: $GDX, $TLT, $SLV, $YNDX $QIWI
Grail
21 Dec 14 20:06:13
$GDX Pattern http://t.co/ahvMflXnpd
Sufiy
21 Dec 14 16:23:28
RT @TNR_Gold: Los Azules: ”One of the World’s largest undeveloped #Copper deposits“ - according to McEwen #Mining https://t.co/WdbbatGRWw $…
Sufiy
21 Dec 14 16:23:26
RT @TNR_Gold: Los Azules: ”One of the World’s largest undeveloped #Copper deposits“ - according to McEwen #Mining https://t.co/WdbbatGRWw $…
Sufiy
21 Dec 14 16:23:23
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 …
Sufiy
21 Dec 14 16:23:22
RT @TNR_Gold: TNR Gold deal with McEwen Mining has cleared the title for Los Azules #Copper M&A http://t.co/MNEZ8MDYYx $TRRXF $MUX $GDX $CU
Sufiy
21 Dec 14 16:23:06
RT @TNR_Gold: TNR Gold deal with McEwen Mining has cleared the title for Los Azules #Copper M&A http://t.co/MNEZ8MDYYx $TRRXF $MUX $GDX $CU
Sufiy
21 Dec 14 16:23:03
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 …
Stockaholics
21 Dec 14 16:06:41
Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $MDMT $COHO $GDX
Rosner Stocks
21 Dec 14 15:57:18
$XIV Percent Change Updated Sunday, December 21, 2014 5:59:23 PM $CSCO $GDX $SBUX $BIDU http://t.co/PMt0eiEdm2
Rosner Stocks
21 Dec 14 15:57:16
$GDX Filings Updated Sunday, December 21, 2014 5:59:23 PM $ESRX $FSL $XOM $GLD http://t.co/1FeRmvULXy
LouisLouie
21 Dec 14 13:35:06
RT @Qwovadis: #Gold $GLD $UGL Forget the Metal It's Time to Buy the #Miners: $GDX $GDXJ $NUGT $JNUG #ETF $NEM $AUY $GOLD $ABX http://t.c…
LouisLouie
21 Dec 14 13:31:10
RT @Nouf_wpt: $GLD $DX_F $GC_F $GDX so far Gold has held lows & has failed 2 follow the US$ move, I think its bullish http://t.co/9vMkVrUUdj
Igor Tsukerman
21 Dec 14 13:13:30
It Seems Like #HedgeFunds Are Jumping Into The #Gold Market | Seeking Alpha http://t.co/ku4XMFMMlE $GDX, $GLD #mining #investing
IH News Desk
21 Dec 14 13:12:36
$GDX Reviews Updated Sunday, December 21, 2014 3:11:18 PM $CTIX $BHI $GOLD $MDLZ http://t.co/NOkbATrHnz
Lan Hoang
21 Dec 14 13:12:10
#GOLD 1196 = 2.2% WeekDrop. 200-DMA 1268. Will hit 1000 per JeffCurrie @GoldmanSachs ? $NUGT $DUST $GDX Dec23 Rev Split $JNUG 1:10 $RUSL 1:6
Bail O'Nomics
21 Dec 14 12:48:24
US Coins:From Gold to Steel? $GLD $IAG $ANV $JNUG $JDST $FCX $GC_F $NUGT $ABX $GG $GOLD $DUST $GDX $GDXJ $XAUSD $AEM http://t.co/geJl0Qowb7
Stockaholics
21 Dec 14 12:04:33
Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $MDMT $COHO $GDX
Etos Etana
21 Dec 14 11:58:47
RT @IHPosts: chartguy89: ETN Stock Chart $ETN $GDX $MRK $JNJ http://t.co/l9yYdF3YeQ
Rosner Stocks
21 Dec 14 11:53:10
$EXAS Stock Message Board Updated Sunday, December 21, 2014 1:59:25 PM $FXB $ANGI $GDX $EEM http://t.co/lRmXB0Tjec
MasterChartsTrading
21 Dec 14 11:46:33
http://t.co/5UuwRL1uoo Video #mkt recap for the week ending December 19, 2014. $SPX $SPY $IWM $GDX $TLT $USO $XLE $RSX
marco grisantelli
21 Dec 14 11:28:31
"@SeekingAlpha: Making A Case For The Seasonal Rally In Gold http://t.co/zdqXaQ9sMs $GDX $GDXJ $GLD"
awolam
21 Dec 14 11:04:54
RT @SeekingAlpha: Making A Case For The Seasonal Rally In Gold http://t.co/LxI249NUcH $GDX $GDXJ $GLD
Seeking Alpha
21 Dec 14 11:00:06
Making A Case For The Seasonal Rally In Gold http://t.co/LxI249NUcH $GDX $GDXJ $GLD
Rosner Stocks
21 Dec 14 10:53:11
$ACWI Company Info Updated Sunday, December 21, 2014 12:59:24 PM $GDX $GRCU $BAS $CHK http://t.co/2LRnVwZ8De
Muathe
21 Dec 14 10:30:22
[VIDEO REPOST] Wkend Mrkt Analysis 12/21/2014 $VXX $EEM $TVIX $XLE $IWM $QQQ $GDX $XLF $XIV $EFA $UNXY $USO $EWJ $TZA http://t.co/kgb5iswzVE
Investors Hangout
21 Dec 14 10:27:38
chartguy89: ETN Stock Chart $ETN $GDX $MRK $JNJ http://t.co/2uW2XFMIcd
Investors Hangout
21 Dec 14 10:27:36
chartguy89: ETN Stock Chart $ETN $GDX $MRK $JNJ http://t.co/l9yYdF3YeQ
David Engel
21 Dec 14 10:16:46
RT @ewaveanalytics: Gold Stocks Shine In 2015! http://t.co/yKd2aCxEOn $GLD $GDX #goldstocksshinein2015
chartguy89
21 Dec 14 10:04:28
ETN Stock Chart $ETN $GDX $MRK $JNJ http://t.co/n5TqTzoMhB http://t.co/DdHCrS6rYq
Robin Murray MD CFII
21 Dec 14 09:12:26
#Gold $GLD $UGL Forget the Metal It's Time to Buy the #Miners: $GDX $GDXJ $NUGT $JNUG #ETF $NEM $AUY $GOLD $ABX http://t.co/EGwl19mRJD l
Kirill Klip
21 Dec 14 09:05:10
RT @TNR_Gold: Los Azules: ”One of the World’s largest undeveloped #Copper deposits“ - according to McEwen #Mining https://t.co/WdbbatGRWw $…
Kirill Klip
21 Dec 14 09:05:07
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 …
Kirill Klip
21 Dec 14 09:05:00
RT @TNR_Gold: TNR #Gold NSR In Los Azules #Copper Project: What Is Net Smelter Return? http://t.co/k9ThdXKiZt $GDX $GDXJ $MUX $TNR.v
Kirill Klip
21 Dec 14 09:04:46
RT @TNR_Gold: TNR Gold deal with McEwen Mining has cleared the title for Los Azules #Copper M&A http://t.co/MNEZ8MDYYx $TRRXF $MUX $GDX $CU
Investors Hangout
21 Dec 14 08:54:10
chartguy89: GDX Stock Chart $GDX $XLF $CVX $CMI http://t.co/jWShpTf4yl
				
				
  +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.