logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 

Equities – Your destination to connect with the growth investment community.

Gold Miner ETFs Spike as Terrible Job Numbers Roll In

  +Follow January 10, 2014 10:54AM
Share:
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
PolgarStocks
19 Apr 15 02:26:38
$SYN Filings Updated Sunday, April 19, 2015 05:06:56 AM $GDX $HAR $ARUN $ZIOP http://t.co/VaM87u6ZkX
PolgarStocks
19 Apr 15 02:26:36
$GDX Short Sales Updated Sunday, April 19, 2015 05:06:56 AM $DLTR $EWG $BIB $EEM http://t.co/BV90GYjx4s
PolgarStocks
19 Apr 15 01:26:06
$CAT Company Info Updated Sunday, April 19, 2015 04:06:56 AM $HAR $CERN $GDX $FSLR http://t.co/a6OmI5XKVs
Langan Stocks
19 Apr 15 01:25:17
$EA Stock Message Board Updated Sunday, April 19, 2015 04:03:10 AM $WMIH $EWJ $BIB $GDX http://t.co/VzXVK0CVVD
D. Owen
19 Apr 15 00:15:04
RT @seeitmarket: The State Of The #Gold Bear Market (archives) - http://t.co/cknD0PXIN5 by @andrewnyquist $GLD $GDX $EURUSD $STUDY
Wavepatterntraders
19 Apr 15 00:13:42
$GDX would help if I posted a chart huh!!! $HUI http://t.co/cLMXKh8sJ6
Wavepatterntraders
19 Apr 15 00:12:17
$GDX Could be worth watching $HUI its met a 1x1 in time and price.
PolgarStocks
18 Apr 15 23:25:07
$KS Financials Updated Sunday, April 19, 2015 02:06:57 AM $AXP $SBUX $GDX $INCY http://t.co/2HxBrJJp5W
Rosner Stocks
18 Apr 15 23:23:38
$XLV Investor Opinions Updated Sunday, April 19, 2015 01:59:22 AM $RXMD $V $GDX $LEMB http://t.co/0iqhqvvmlv
PolgarStocks
18 Apr 15 22:24:06
$USO News Updated Sunday, April 19, 2015 01:06:56 AM $GDX $ITB $CERN $WMT http://t.co/IAsk2ENrRn
Avon
18 Apr 15 22:23:33
RT @seeitmarket: The State Of The #Gold Bear Market (archives) - http://t.co/cknD0PXIN5 by @andrewnyquist $GLD $GDX $EURUSD $STUDY
Bradley
18 Apr 15 22:09:09
Find your own trading path. $MAT $TSM $IWM $PFE $GOOG $AAPL $DRC $LVS $CL $WTW $APC $GDX http://t.co/l9JkTCtpHR http://t.co/WaXwFIxYhg
AlsoThere
18 Apr 15 22:01:26
RT @seeitmarket: The State Of The #Gold Bear Market (archives) - http://t.co/cknD0PXIN5 by @andrewnyquist $GLD $GDX $EURUSD $STUDY
Nereida Diesen
18 Apr 15 21:25:33
The State Of The #Gold Bear Market (archives) - http://t.co/oEoHKAfsGX by andrewnyquist $GLD $GDX $EURUSD $STUDY
See It Market
18 Apr 15 21:08:53
The State Of The #Gold Bear Market (archives) - http://t.co/cknD0PXIN5 by @andrewnyquist $GLD $GDX $EURUSD $STUDY
Langan Stocks
18 Apr 15 20:21:08
$TSLA Financials Updated Saturday, April 18, 2015 11:03:08 PM $GDX $EBAY $PFE $SWKS http://t.co/jvsH7ZqyBA
Sam
18 Apr 15 20:06:07
One more before bed! Love ya'll! $MAT $TSM $IWM $PFE $DRC $LVS $CL $WTW $APC $GDX http://t.co/YU579z0Ece http://t.co/wqxL9a27jr
Langan Stocks
18 Apr 15 19:20:04
$XLU Financials Updated Saturday, April 18, 2015 10:03:08 PM $VXX $GDX $MRK $GE http://t.co/sGwQGZhNfd
royfberger
18 Apr 15 17:38:07
Unreal SKY tonight $MAT $TSM $IWM $PFE $DRC $LVS $CL $WTW $APC $GDX http://t.co/JUFJoVvAWo http://t.co/KRdhNhL30x
NewsTalk
18 Apr 15 17:27:19
RT @etfguide: WATCH: Don't Let These Behavior Traits Burn Your Money! http://t.co/ETtf822qvK $NFLX $AAPL $DIA $GDX
Rosner Stocks
18 Apr 15 16:17:41
$GDX Short Sales Updated Saturday, April 18, 2015 6:59:25 PM $FWDG $WYNN $PM $MRK http://t.co/9itmMGhL27
PolgarStocks
18 Apr 15 16:17:04
$GDXJ Opinions Updated Saturday, April 18, 2015 7:06:58 PM $PACB $ATVI $GDX $UUP http://t.co/dl1OLJjlxA
IH News Desk
18 Apr 15 13:50:10
$USO Percent Change Updated Saturday, April 18, 2015 4:11:14 PM $PSLV $GM $GDX $PSLV http://t.co/USmX1gUTa2
IH News Desk
18 Apr 15 13:50:09
$ILF Filings Updated Saturday, April 18, 2015 4:11:14 PM $TKMR $BX $STX $GDX http://t.co/O3d3arViaZ
V-Trader
18 Apr 15 12:43:09
$GDX we should know in about a week if this is a right shoulder forming. I think we dont form that pattern & break out over 20
Chris
18 Apr 15 10:26:49
RT @etfguide: WATCH: Don't Let These Behavior Traits Burn Your Money! http://t.co/ETtf822qvK $NFLX $AAPL $DIA $GDX
Rosner Stocks
18 Apr 15 10:11:13
$XLB Short Sales Updated Saturday, April 18, 2015 12:59:23 PM $GDX $RUSS $EBR $GERN http://t.co/G4icj7jQAB
MasterChartsTrading
18 Apr 15 09:59:49
I explain $GDX market breadth in details @ 8:25 mark here: http://t.co/qati1NjH5l $DUST $NUGT
MasterChartsTrading
18 Apr 15 09:53:59
Bear-market rally in #gold may still have some room to run to the upside. Watch @ 6:09 mark http://t.co/fAF5OqzpgC $GLD $GDX $DUST $NUGT
Bradley
18 Apr 15 09:47:06
Find your own trading path. $MAT $TSM $IWM $PFE $GOOG $AAPL $DRC $LVS $CL $WTW $APC $GDX http://t.co/l9JkTCtpHR http://t.co/HlTX34NXtC
IH News Desk
18 Apr 15 09:46:38
$RIGH Recent News Updated Saturday, April 18, 2015 12:11:14 PM $GDX $ZA $XLP $UGAZ http://t.co/p3p6C145Lt
IH News Desk
18 Apr 15 09:46:37
$TQQQ Opinions Updated Saturday, April 18, 2015 12:11:14 PM $GDX $NUGT $ARIA $NVAX http://t.co/2iNs9fxzNM
SmallCaps
18 Apr 15 09:27:05
http://t.co/O5akYXpMLF <-- This millionaire trader changed my life! $CYBR $CY $INTC $GDX $TTPH #stocks #trading
Langan Stocks
18 Apr 15 09:10:44
$UTX Financials Updated Saturday, April 18, 2015 12:03:20 PM $JCP $BMY $GDX $COP http://t.co/0ok6tXtsht
PolgarStocks
18 Apr 15 09:10:15
$MON Investor Opinions Updated Saturday, April 18, 2015 11:07:16 AM $XOM $NVAX $VZ $GDX http://t.co/XlyucTRYX4
Sufiy
18 Apr 15 09:05:03
RT @kirillklip: James Turk: The Gold In London Is Pretty Much Gone. https://t.co/xCobPztboQ $GLD $GDX $GDXJ $MUX $TRRXF $ABX $NG
Sufiy
18 Apr 15 09:03:57
RT @TNR_Gold: “@HedgehogTrader: $GDX http://t.co/u2lwGJySWV” #Gold
Sufiy
18 Apr 15 09:02:48
RT @TNR_Gold: James Turk: The Gold In London Is Pretty Much Gone. https://t.co/JrcDxyfnaz $GLD $GDX $GDXJ $MUX $TRRXF $ABX $NG
Sufiy
18 Apr 15 09:02:35
RT @HedgehogTrader: $GDX http://t.co/XUROAWJEQ6
Kirill Klip
18 Apr 15 08:45:29
RT @TNR_Gold: Los Azules: ”One of the World’s largest undeveloped #Copper deposits“ - according to McEwen #Mining https://t.co/WdbbatpgOs $…
Kirill Klip
18 Apr 15 08:38:44
RT @TNR_Gold: James Turk: The Gold In London Is Pretty Much Gone. https://t.co/JrcDxyfnaz $GLD $GDX $GDXJ $MUX $TRRXF $ABX $NG
PolgarStocks
18 Apr 15 07:08:37
$GDX Stock Message Board Updated Saturday, April 18, 2015 09:07:15 AM $DUST $HAL $XLY $GERN http://t.co/F0DqgfzyNA
Langan Stocks
18 Apr 15 07:07:43
$UUP Financials Updated Saturday, April 18, 2015 10:03:20 AM $GDX $ILF $GOOG $IWM http://t.co/3yJ0naUfCh
TNR Gold Corp
18 Apr 15 07:01:17
James Turk: The Gold In London Is Pretty Much Gone. https://t.co/JrcDxyfnaz $GLD $GDX $GDXJ $MUX $TRRXF $ABX $NG
InternationalLithium
18 Apr 15 06:54:43
RT @kirillklip: James Turk: The Gold In London Is Pretty Much Gone. https://t.co/xCobPztboQ $GLD $GDX $GDXJ $MUX $TRRXF $ABX $NG
Kirill Klip
18 Apr 15 06:00:29
James Turk: The Gold In London Is Pretty Much Gone. https://t.co/xCobPztboQ $GLD $GDX $GDXJ $MUX $TRRXF $ABX $NG
IH News Desk
18 Apr 15 05:43:21
$XLV Stock Message Board Updated Saturday, April 18, 2015 08:11:11 AM $GDX $TS $NGCG $TSM http://t.co/3QXMUl01iV
IH News Desk
18 Apr 15 05:43:20
$TS Financials Updated Saturday, April 18, 2015 08:11:11 AM $MCP $GDX $EWH $TQQQ http://t.co/lJrSrR7zzz
royfberger
18 Apr 15 04:51:14
Unreal SKY tonight $MAT $TSM $IWM $PFE $DRC $LVS $CL $WTW $APC $GDX http://t.co/JUFJoVvAWo http://t.co/oldyYrflfH
IH News Desk
18 Apr 15 04:42:10
$VXF Percent Change Updated Saturday, April 18, 2015 07:11:12 AM $SH $RIGH $AMZN $GDX http://t.co/Awq0cjp9ol
				
				
  +Follow January 10, 2014 10:54AM
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.