Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?



Gold Miner ETFs Spike as Terrible Job Numbers Roll In

  +Follow January 10, 2014 10:54AM
Tickers Mentioned:

Investors often look to gold and gold mining plays in times of bad economic news, and Jan 10 was no exception.

On Friday the US Labor Department issued its December jobs report that showed while unemployment was down jobs were less than half of what had been expected. This slowdown indicates the overall economy is not growing as fast as analysts had hoped. While unemployment is down, this is actually a bad sign: it means less people are even looking for jobs, and thus the domestic labor force is shrinking.

Previous job growth of 241,000 jobs in November certainly bolstered the argument that the economy was on the fast track to recovery, and the upcoming QE tapering was an acceptable decision. As investors question the wisdom in that decision, investors poured money into gold mining ETFs, possibly expecting a rush back to the yellow metal in uncertain times.

Gold mining stocks and gold mining ETFs have been some of the hardest hit investments on the market, with popular leveraged plays like Direxion Daily Gold Miner Bulls 3X ETF ($NUGT) shedding over 90 percent of its value over the last year. However, this has not stopped institutional interest in NUGT and its ilk, with assets in gold mining assets ratcheting up considerably over December.

Institutional interest and the bad economic data combined to spur a rush to gold miners, causing gold mining ETFs to become the day’s best performers.

NUGT was a big winner on Jan 10, gaining 10.52 percent to hit $30.79 a share.  The leveraged fund Direxion Dailyt Jr. Gold Miners Bull 3x ETF ($JNUG) gained 12.13 percent to hit $17.65. The popular Market Vectors Gold Miners ETF ($GDX) gained 3.57 percent to hit $22.03 a share.

Gold spiked concomitantly with minign companies. The yellow metal touched $1,246 an ounce by midday, an uptick of 1.55 percent.

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. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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

Results for gdx
Lucky Jimmy
28 Jul 15 17:37:47
GDX Market Vectors Gold Miners Prev Close http://t.co/2dCyXseWX4 $GDX $BLUE $GDXJ $RYRSX #GDX #stocks #stockmarketGDXJ Market Vectors…
IH News Desk
28 Jul 15 17:36:39
$QLD Financials Updated Tuesday, July 28, 2015 8:10:51 PM $CHK $SIPC $GDX $WYNN http://t.co/1pxS8NavfL
28 Jul 15 17:36:31
28 Jul: #gold #etf money flows - $GLD unchgd, $GDX -$20.5M, $GDXJ unchgd https://t.co/BbrotmKBPl http://t.co/Qao8x3zSuz
28 Jul 15 17:33:07
BABA Alibaba Group Holding Ltd. Dividend http://t.co/gd8AVwUPdb $BABA $BAD.TO $GDX $BIDU #BABA #finance #pennystocks
Paul Henry
28 Jul 15 17:10:01
Our Penny Stock Picks Have Gained 3,600% In 10 Months! Get Early Access To Our Next Pick: http://t.co/xXdYdpiHOc $PZG $APOG $GDX
Michael James
28 Jul 15 17:09:28
After A MASSIVE 525% Gain On $GEQU, We Have A New Pick Ready! Special Update: http://t.co/wFGuoX67mX $PZG $APOG $GDX
28 Jul 15 17:08:01
Yeah,got a some $dwti 2day,only 25 shares,nothing to chat about.securing long $oil position.( $spy $gdx $ung $aapl $sco $uco $uso $xlf $gld
Michael Cook
28 Jul 15 17:06:13
Our Stock Alerts Gained Over 550% This Month Already! See Our Huge New Pick Coming This Week: http://t.co/abs4Q0wdoH $PZG $APOG $GDX
28 Jul 15 16:57:09
Gold bearishness “starting to resemble 1999,” just before price erupted. $GLD $GDX $GDXJ $JNUG $NUGT https://t.co/htH74Xc9Ub
28 Jul 15 16:46:32
UA ProShares Ultra DJ-UBS Crude Oil Yield http://t.co/jr2dHzA6nQ $UA $GDX $EWT $AMAT #UA #share #tradeideas
28 Jul 15 16:44:06
Huge Gains On Stock Picks, Plus A Major Announcment: http://t.co/L7DCrwbFw3 $PZG $APOG $GDX
Rosner Stocks
28 Jul 15 16:43:33
RYIRX Rydex Inverse Russell 2000* 2x Strategy Fund 52Wk Low http://t.co/dhVzOxfCPE $RYIRX $GDX $ERX $XLP #RYIRX #stocks #finance
28 Jul 15 16:40:34
Not much has changed. $GDX http://t.co/GJzfeTRWqe
28 Jul 15 16:39:15
GRCU Green Cures & Botanical Distribution Inc. Last Price http://t.co/ohmv0KNmT2 $GRCU $WFC $GOOG $GDX #GRCU #stockmarket #tradeideas
28 Jul 15 16:39:03
Some Daily Charts $URA $GLD $SLV $REMX $GDX $TLT $SPY http://t.co/Dyt2nZkvqW
28 Jul 15 16:37:36
GDX Market Vectors Gold Miners EOD Data http://t.co/fHNRd3BzFe $GDX $JAZZ $AMGN $CDNS #GDX #stocks #stocks
28 Jul 15 16:36:13
EEM iShares MSCI Emerging Markets Company Info http://t.co/3rbuqLquHM $EEM $XLI $SSO $GDX #EEM #stocks #stock
28 Jul 15 16:13:04
Oversold Gold Miner ETFs May Have Opportunity to Rebound http://t.co/fWbQpPn9h6 #ETF #bullion #mining $GDX $GDXJ… http://t.co/XG5hVFJGig
28 Jul 15 16:10:15
YELP Yelp Inc. Tick http://t.co/UizzDrBFnX $YELP $BRK/B $DXJ $GDX #YELP #nasdaq #stock http://t.co/Csk7miIhta… http://t.co/Csk7miIhta
Commodity Trading
28 Jul 15 16:00:11
Buy #Gold Stocks Now, a chart of $GDX. #commodityetf https://t.co/P0G4lcY9pU http://t.co/vrc2JgMHCp
28 Jul 15 15:59:57
YELP Yelp Inc. Tick http://t.co/UizzDrBFnX $YELP $BRK/B $DXJ $GDX #YELP #nasdaq #stock http://t.co/Csk7miIhta http://t.co/Csk7miIhta
28 Jul 15 15:59:47
YELP Yelp Inc. Tick http://t.co/UizzDrBFnX $YELP $BRK/B $DXJ $GDX #YELP #nasdaq #stock http://t.co/Csk7miIhta
28 Jul 15 15:58:43
Oversold Gold Miner ETFs May Have Opportunity to Rebound http://t.co/fWbQpPn9h6 #ETF #bullion #mining $GDX $GDXJ… http://t.co/XG5hVFJGig
28 Jul 15 15:56:13
YELP Yelp Inc. Tick http://t.co/UizzDrBFnX $YELP $BRK/B $DXJ $GDX #YELP #nasdaq #stock http://t.co/Csk7miIhta
28 Jul 15 15:53:05
YELP Yelp Inc. Tick http://t.co/wRlSJkxMvt $YELP $BRK/B $DXJ $GDX #YELP #nasdaq #stock
28 Jul 15 15:53:05
YELP Yelp Inc. Quotes http://t.co/XEAWuru0Og $YELP $SLW $GDX $ECIG #YELP #stocks #share
Lucky Jimmy
28 Jul 15 15:51:12
XHB VelocityShares Daily Inverse VIX Short Term ETN Open http://t.co/qLUGlS67Zs $XHB $ASHR $GDX $MU #XHB #invest #stockmarket
28 Jul 15 15:51:04
XLE Energy Select Sector SPDR Exchange http://t.co/TzwWwsaSYJ $XLE $CVC $HZNP $GDX #XLE #stockmarket #invest
ETF Trends
28 Jul 15 15:50:18
Oversold Gold Miner ETFs May Have Opportunity to Rebound http://t.co/9NzzgM4WSa #ETF #bullion #mining $GDX $GDXJ $SGDJ $IAU $GLD $SGOL
Rosner Stocks
28 Jul 15 15:48:33
UUP PowerShares DB US Dollar Index Bullish Fund P/E Ratio http://t.co/CAYCFFCoJF $UUP $INTC $PNRA $GDX #UUP #finance #share
28 Jul 15 15:48:33
UUP ProShares Ultra VIX Short-Term Futures ETF Summary http://t.co/toMhBuZKpC $UUP $VNQ $FCX $GDX #UUP #pennystocks #stock
28 Jul 15 15:48:32
USO United States Oil Fund, LP Company Info http://t.co/3ma86MNp1D $USO $GDX $XLB $CLF #USO #stocks #nasdaq
28 Jul 15 15:48:09
UNH Unitedhealth Group, Inc. Stock Message Board http://t.co/K0FgoAbpU4 $UNH $ITB $GDX $MS #UNH #invest #stock
28 Jul 15 15:48:07
TVIX VelocityShares Daily 2x VIX Short Term ETN Quotes http://t.co/VsWV2gyv51 $TVIX $IBM $BIIB $GDX #TVIX #nasdaq #nasdaq
28 Jul 15 15:48:05
USO United States Oil Fund, LP P/E Ratio http://t.co/JSBu7GkMUo $USO $GDX $SHOP $UNG #USO #tradeideas #invest
28 Jul 15 15:48:05
USB United States Oil Fund, LP Stock Forum http://t.co/rTjQwp1QWL $USB $SNSS $GDX $PFE #USB #invest #pennystocks
Investors Hangout
28 Jul 15 15:46:34
TBT iShares Barclays 20+ Year Treasury Bond Fund 52Wk Low http://t.co/vsMVQ4z0M5 $TBT $GDX $XLU $GG #TBT #tradeideas #stocks
28 Jul 15 15:46:34
TQQQ ProShares UltraPro QQQ E.P.S. http://t.co/RPlCBGp4GW $TQQQ $GDX $ICLR $JPM #TQQQ #nasdaq #stock
Tom Lydon
28 Jul 15 15:45:21
Oversold Gold Miner ETFs May Have Opportunity to Rebound http://t.co/azPV5ZYmvy #ETF #bullion #mining $GDX $GDXJ $SGDJ $IAU $GLD $SGOL
28 Jul 15 15:45:07
RGLD Royal Gold, Inc. Quotes http://t.co/AX560Lqyar $RGLD $FXE $MPC $GDX #RGLD #stock #tradeideas
IH News Desk
28 Jul 15 15:44:03
RETL Direxion Daily Retail Bull 3x Market Cap http://t.co/bfktisxWDX $RETL $PCLN $EWZ $GDX #RETL #invest #finance
28 Jul 15 15:43:04
OIL iPath S&P GSCI Crude Oil Total Return Index ETN P/E Ratio http://t.co/5R47hdLFzW $OIL $GDX $SLV $CVX #OIL #investing #share
28 Jul 15 15:42:33
NBIX Neurocrine Biosciences, Inc. Last Trade http://t.co/QjGUQxAQgJ $NBIX $TWTR $GDX $SUPN #NBIX #stock #tradeideas
28 Jul 15 15:42:33
NKE Nike Inc. Last Price http://t.co/9L1LLbRQAf $NKE $XLF $ABX $GDX #NKE #pennystocks #share
28 Jul 15 15:42:14
MMM 3M Co. Exchange http://t.co/7XKiOmIEBB $MMM $GDX $XHB $NKE #MMM #share #tradeideas
28 Jul 15 15:42:07
MPC Marathon Petroleum Corp. Open http://t.co/WlWxoTySSK $MPC $QLD $VNQ $GDX #MPC #invest #invest
Stock Forums
28 Jul 15 15:40:33
KGC Kinross Gold Corp. Open http://t.co/FjXfE52XN2 $KGC $GDX $KBE $VDSI #KGC #nasdaq #finance
Stock Forums
28 Jul 15 15:39:33
IYR Real Estate iShares Shares http://t.co/77C776fBle $IYR $AMBA $AMZN $GDX #IYR #tradeideas #stocks
28 Jul 15 15:39:13
HACK PureFunds ISE Cyber Security ETF Current Price http://t.co/hI1d9pY7mD $HACK $EWZ $SMN $GDX #HACK #pennystocks #pennystocks
28 Jul 15 15:38:03
GDX Market Vectors Gold Miners Tick http://t.co/yuiVSn3OtS $GDX $SHOP $DD $RSP #GDX #investing #investing
  +Follow January 10, 2014 10:54AM



blog comments powered by Disqus

 Today's Must Reads

5 Small-Cap Energy with Hedges to Survive Oil's Bear Market

DraftKings and FanDuel: The New Face of Legalized Online Sports Betting

Is the Market Paying the Toll of Tech?

What Will Uber Look Like in the Future?

How Dodd-Frank Divides Political Parties Prior to 2016 Election


Apple (AAPL) is expected to announce its latest quarterly earnings next week. As the most valuable company by mark... in Equities.com's Hangs on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

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

Login or Register