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Gold Miner ETFs Spike as Terrible Job Numbers Roll In

  +Follow January 10, 2014 10:54AM
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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.

Results for gdx
Sqwii
16 Apr 14 06:02:19
I believe that #GOLD #SILVER and miners $GDX is still going to have a strong rally all year long here in 2014 into 2015. Buy dips.
ETFguide.com
16 Apr 14 06:00:14
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
Hard Assets Investor
16 Apr 14 06:00:07
No End In Sight For China’s Voracious Appetite For Gold, Says World Gold Council $GLD $GDX $IAU #gold http://t.co/hUa68afkzV
Sunchartist
16 Apr 14 05:18:12
“Bad day for precious metals – Trailer of things to come $SILVER $GOLD $GDX $GLD $SLV” http://t.co/XZeM2ixqrh
Vern Sonnenberg
16 Apr 14 05:16:06
$GDX Despite the selloff, gold is flashing a secret buy sign http://t.co/dQM0XrIGFx
Vern Sonnenberg
16 Apr 14 04:48:10
$GDX 3 Reasons to Consider Buying Gold on Recent Weakness http://t.co/GJ3RMQqArK
Vern Sonnenberg
16 Apr 14 04:36:34
$GDX [video] Gold prices dive about 2% http://t.co/fOS0whkTxk
Rehab El-Helw
16 Apr 14 04:21:12
#GOLD still believing it isn't over yet ,, the rally is coming. $GDX any testing back to 23.50-23.00 would be a LONG opportunity. BUY DIPS
Vern Sonnenberg
16 Apr 14 04:20:09
$GDX Gold in Focus: Can Precious Metal ETFs Continue to Rally? http://t.co/L77Ria3bcV
Patty Porter
16 Apr 14 04:16:14
$GDX Gold in Focus: Can Precious Me http://t.co/l2v9gVSNup
MasterChartsTrading
16 Apr 14 04:15:37
Is This a Rally Into Resistance? http://t.co/GCCj58u0Dy $SPY $IYR $TLT $GLD $GDX $NUGT $QQQ $UNG $USO #stocks $XLU http://t.co/IHd45OM80h
Robin Murray MD CFII
16 Apr 14 02:27:40
Despite the selloff, #gold is flashing a #GOLDEN #CROSS #BUY $GLD $UGL $NUGT $GDX$GDXJ $NEM $GOLD $FCX $ABX $AUY http://t.co/yXay03evkx
Stock Forums
16 Apr 14 02:01:15
Share your opinions about $WLAN with 12,000+ active traders today! Click Here: http://t.co/c7pkUBr90v Trending $JBII $STBV $GDX $FANG
ETF alpha
16 Apr 14 01:46:47
Chinese Demand Could be Golden for #Gold ETFs http://t.co/Td2BCeYZEQ $GLD $GDX $GDXJ
KAVEH ILKHANIPOUR
16 Apr 14 01:23:52
RT @Foghornreturns: $GLD $GDXJ $GDX $NUGT $JNUG Despite the selloff, gold is flashing a secret buy sign http://t.co/zlCvLkin3Z Unless the B…
Stock Forums
16 Apr 14 00:39:49
Share your opinions about $TTDZ with 12,000+ active traders today! Click Here: http://t.co/OtGZgh41UN Trending $VXX $GDX $PII $GOOGL
Stock Forums
16 Apr 14 00:10:14
Share your opinions about $TAN with 12,000+ active traders today! Click Here: http://t.co/HZLpEA4T87 Trending $TWTR $GDX $ZU $WFC
Stock Forums
15 Apr 14 22:41:27
Share your opinions about $RIG with 12,000+ active traders today! Click Here: http://t.co/epLBRCaxuJ Trending $GDX $NG $MINE $HLF
Pulsar Investments
15 Apr 14 22:25:30
Although we got some $GDX calls, have to say this bearish leg for $GLD appears scary - target 118~120 (former base). http://t.co/6i1Jf9wAeL
Foghorn returns
15 Apr 14 21:22:18
$GLD $GDXJ $GDX $NUGT $JNUG Despite the selloff, gold is flashing a secret buy sign http://t.co/zlCvLkin3Z Unless the Borg arrives.
Foghorn returns
15 Apr 14 20:59:47
$GLD $GDXJ $GDX $DIA $SPY $QQQ Is Janet Yellen the borg queen and are high frequnecy traders the borg?
Foghorn returns
15 Apr 14 19:45:45
$GLD $GDXJ $GDX $SLV Gold bugs must have pissed off the Fed which seems to have sent out their replicators. http://t.co/kFltViOtuC
Jeff Salisbury
15 Apr 14 19:42:11
@DirexionShares $DUST $GDX $GDXJ $GLD $JDST $JNUG $NUGT $GLDS $GLDL Is it possible for you to talk to us or @trish_Regan on the subject?
Jeff Salisbury
15 Apr 14 19:37:28
$DUST $GDX $GDXJ $GLD $JDST $JNUG $NUGT $GLDS $GLDL what keeps the odds of these ETFs not being biased lower with only 1 possible win state?
David Yoe Williams 2
15 Apr 14 19:36:41
RT @guru25i: @DavidYoe2 Based on Coppock indicator,increased $GDX position last mo.In last 10yrs.twice gave positive signal,both were buyin…
Jeff Salisbury
15 Apr 14 19:36:20
$DUST $GDX $GDXJ $GLD $JDST $JNUG $NUGT $GLDS $GLDL Now, if gold miner ETFs only go up when you have 1 AND 1, then by design
Jeff Salisbury
15 Apr 14 19:34:50
$DUST $GDX $GDXJ $GLD $JDST $JNUG $NUGT $GLDS $GLDL along with the other input being market up(1) / market down (0).
guru
15 Apr 14 19:34:44
@DavidYoe2 Based on Coppock indicator,increased $GDX position last mo.In last 10yrs.twice gave positive signal,both were buying opportunity
Jeff Salisbury
15 Apr 14 19:33:14
$DUST $GDX $GDXJ $GLD $JDST $JNUG $NUGT $GLDS $GLDL of false or 0. (0 & 1, 1 & 0, 0 & 0). If the two inputs are gold up(1) / gold down(0)
Jeff Salisbury
15 Apr 14 19:30:54
$DUST $GDX $GDXJ $GLD $JDST $JNUG $NUGT $GLDS $GLDL AND logic truth table only works when both inputs are a 1 or True. This leaves 3 states
Jeff Salisbury
15 Apr 14 19:29:19
$DUST $GDX $GDXJ $GLD $JDST $JNUG $NUGT $GLDS $GLDL What if the design of gold miner ETFs is equivalent to binary boolean AND logic?
Jeff Salisbury
15 Apr 14 19:25:51
$DUST $GDX $GDXJ $GLD $JDST $JNUG $NUGT $GLDS $GLDLWho can chart and calculate percentage of time that gold moves with the market & against
Stock Forums
15 Apr 14 18:00:14
Share your opinions about $GDX with 12,000+ active traders today! Click Here: http://t.co/JgvjPuGE8M Trending $PRAN $JNJ $FXE $OWOO
Sunchartist
15 Apr 14 17:38:41
“Bad day for precious metals – Trailer of things to come $SILVER $GOLD $GDX $GLS $SLV” http://t.co/XZeM2ixqrh
Vern Sonnenberg
15 Apr 14 16:12:34
$GDX 3 Gold and Silver Mining Mutual Funds To Buy Now http://t.co/znnOBpK4hk
Trading Cards
15 Apr 14 15:51:44
Great Bull vs. Bear video debate on Gold $GLD $NEM $GDX $ABX $GG http://t.co/Vthkm8CaqR
zerg_rush
15 Apr 14 15:42:37
RT @Implosion1: Metals Guru thinks Gold will eventually get as low as $950 to $1050...never mind that he was bullish on $GDX above $50 a sh…
Implosion1
15 Apr 14 15:42:13
Metals Guru thinks Gold will eventually get as low as $950 to $1050...never mind that he was bullish on $GDX above $50 a share. :)
GoldMarketNews
15 Apr 14 14:24:15
#Gold Miners ETF GDX - last: $24.02 @ 4:00pm EST 4/15/2014 http://t.co/4UPqGMrG8v Check http://t.co/xghwszwIJI $GDX
Prices Gold
15 Apr 14 14:24:07
#Gold Miners ETF GDX - last: $24.02 @ 4:00pm EST 4/15/2014 http://t.co/h6EwIMprWn Check http://t.co/8QhSvl1oQg $GDX
Edward Fahlstrom
15 Apr 14 14:12:07
RT @DirexionShares: Bearish on gold? http://t.co/ZMPahpU9lX We now offer traders daily 300% leveraged exposure to both sides of the trade $…
GoldMarketNews
15 Apr 14 13:23:07
#Gold Miners ETF GDX - last: $24.01 @ 4:00pm EST 4/15/2014 http://t.co/76IUfn2ko2 Check http://t.co/xghwszwIJI $GDX
Prices Gold
15 Apr 14 13:23:07
#Gold Miners ETF GDX - last: $24.01 @ 4:00pm EST 4/15/2014 http://t.co/fMAtwM1KwG Check http://t.co/8QhSvl1oQg $GDX
Morning Star Gold
15 Apr 14 13:08:40
RT @HAInvestor: No End In Sight For China’s Voracious Appetite For Gold, Says World Gold Council #gold $GLD $IAU $GDX http://t.co/hUa68afk…
Hard Assets Investor
15 Apr 14 12:57:03
No End In Sight For China’s Voracious Appetite For Gold, Says World Gold Council #gold $GLD $IAU $GDX http://t.co/hUa68afkzV
Anthony Allyn
15 Apr 14 12:56:12
$GDX http://t.co/eaC8o2fGqy
Vern Sonnenberg
15 Apr 14 12:56:07
$GDX Gold in Focus: Can Precious Metal ETFs Continue to Rally? http://t.co/L77Ria3bcV
Anthony Allyn
15 Apr 14 12:48:20
$GDX may be the last chart of the day if all goes according to plan http://t.co/oG7p2CfKiV
Anthony Allyn
15 Apr 14 12:42:41
$GDX is looking pretty grim http://t.co/OuOa7lmFJh
Anthony Allyn
15 Apr 14 12:31:42
Taking profits in NUGT $GDX http://t.co/FQzZriCCl4
				
				
  +Follow January 10, 2014 10:54AM
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