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China has a voracious appetite for gold and has now reached 100 tons in gold reserves since it started purchasing the precious metal late last year. More importantly, more purchases could come, which could fan the flames for gold-focused exchange-traded funds (ETFs). Per Bloomberg News, the “People’s Bank of China picked up more gold last month, raising holdings to 62.64 million ounces in September from 62.45 million in August, according to data on its website.
Gold hit a two-week high to start this week’s trading session following week economic data stemming from Europe. “The weak German PMI numbers gave a little bit of a shock to the stock market and led investors into safety like gold and silver,” said Phillip Streible, senior commodities strategist at RJO Futures. “In addition to that, there are a lot of investors moving in that market and in such a small, illiquid market, it doesn’t take a lot of investors to drive the price higher.” How High Does Gold Climb?
The space currently holds a market cap of $177 billion, but getting an exchange-traded fund focused squarely on Bitcoin has proven to be an uphill battle to say the least. “If [investors] think there’s the same rigor around that price discovery as there is on the Nasdaq or New York Stock Exchange ... they are sorely mistaken,” said Clayton, the opening speaker at the Delivering Alpha conference. Aside from the Bitcoin discussion, Clayton opined on giving retail investors more access to public markets like the initial public offering (IPO) space.
The Federal Reserve’s interest rate decision will be the prime market mover this week for gold and silver prices as the central bank is favored to cut rates by another 25 basis points. Gold and silver ...
Discover why gold is holding support as the Federal Reserve looks set to keep rates steady. Trade the yellow metal using these three ETFs.
According to the latest edition of Direxion Investments’ The Xchange, it was leveraged Treasury-focused and gold miner exchange-traded funds (ETFs) that were white hot as investors piled into fixed income assets as part of a risk-off move to safe havens. As such, there was a lot of action to be had in leveraged funds like the Direxion Daily 20+ Year Treasury Bull 3X Shares (TMF) and the Direxion Daily 7-10 Year Treasury Bull 3X Shares (TYD) . “This explains the summer’s stampede-like rush to fixed income investments, particularly treasury notes.
As more investors shift to a risk-off mindset and embrace gold, China’s influence is growing on the global market for the precious metal. Acknowledging China’s increasing presence in the world gold market, the CME Group, a leading futures and derivatives exchange, is expanding its market offerings with the launch of two new gold futures products in October.
Zacks Market Edge Highlights: AngloGold, Barrick Gold, Royal Gold, SPDR Gold and Direxion 3x Gold Miners
Gold hit a fresh six-year high on Friday as trade tensions between the US and China escalated. The SPDR Gold Shares ETF (GLD) closed up 2%.
With the capital markets uncertain on how to approach equities with trade wars and inverted yield curves on the horizon, its increased the taste for safe-haven assets like gold exchange-traded funds (ETFs). In Monday's trading session, gold was up more than 1 percent to pass the $1,550 per ounce price mark for the first time in more than six years. U.S. gold futures were up 0.1% at $1,538.90.
Amid the trade war, weakening economic indicators, and the yield curve inversion, Jeffrey Gundlach believes the Fed has lost control of interest rates.
As Treasury yields continue to skydive, gold price levels could go through the roof as the scrambler for safe haven assets continues amid the latest market volatility as trade wars between the U.S. and China rage on. This could provide more gains for gold-focused exchanged-traded funds (ETFs) as analysts are predicting that the precious metal could shoot past the $2,000 per ounce price mark. The weakness in the U.S. dollar caused gold to climb, but the case for the precious metal is also coming from the bond markets.
Gold and the related exchange-traded funds are breaking out and miners are going along for the ride. Of course, the Direxion Daily Junior Gold Miners Index Bull 3X Shares (NYSE: JNUG) is getting in on the act. JNUG, which tries to deliver triple the daily returns of the MVIS Global Junior Gold Miners Index (MVGDXJTR), is higher by about 60% over the past month.
With U.S. markets in the red, investors are looking to ETF safety of government bonds with the CBOE Volatility Index (VIX) currently sitting at 22.79, up 5.18 (29.42%) as of 2:30 pm ET Monday. Investors ...
With earnings recession worries in the U.S. paired with a global economic slowdown, talk of alternative assets are permeating the capital markets more often than not, making way for a three-way battle between gold, silver and leading digital currency Bitcoin. Silver has rallied to new highs as of late, but some think the steam will eventually run out on the precious metal.
As the Federal Reserve ponders a possible rate cut following its meeting near the end of the month, gold bulls are lying in wait and ready to pounce with leveraged exchange-traded funds (ETFs). Funds like the Direxion Daily Gold Miners Bull 3X ETF (NUGT), VanEck Vectors Gold Miners (GDX) and the Direxion Daily Jr Gold Miners Bull 3X ETF (JNUG) are certainly in play. “Gold, for most parts, is steady as we are on hold until we get to the Fed meeting.