31.41 -0.02 (-0.06%)
Pre-Market: 4:40AM EST
|Bid||0.00 x 900|
|Ask||31.41 x 1000|
|Day's Range||30.93 - 32.53|
|52 Week Range||14.06 - 45.10|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-9.86%|
|Beta (5Y Monthly)||-0.23|
|Expense Ratio (net)||1.23%|
The stock market when on to reach more record highs on Thursday thanks to a bevy of positive economic data, such as less jobless claims and better-than-expected retail numbers. However, Bridgewater Associates ...
The U.S.-China “phase one” trade deal that is set to be signed today is injecting a healthy dose of optimism into the markets, which is keeping gold and silver prices at bay. After hitting highs the previous week, this week could see a rollercoaster-like drop as precious metals traders brace themselves for the wild ride. “Gold and silver appear to be headed lower, and there doesn’t appear to be anything that will slow the metals from another trend reversal,” wrote Todd “Bubba” Horwitz in Kitco News.
Hold the gold—it's a simple strategy in an uncertain market that could turn any day by various risk-based factors, but Longview Economics CEO Chris Watling suggests another reason that could help support gold prices is the Federal Reserve's repo program. The central bank uses the program to adjust the supply of reserve balances to keep its interest rate target in check. “It is putting a lot of liquidity, a lot of dollar money, into the system, and that is supporting the price,” Waitling said in a CNBC report.
Escalating U.S.-Iran tensions after an air strike that killed an Iranian general last week fed into strength for gold prices to start the trading week. On Tuesday, gold rallied to a 6 ½-year high, but fell the following Wednesday after U.S. President Donald Trump eased the markets following a retaliation from Iran that caused no damage or casualties on U.S. airbases. “Gold is down sharply as U.S-Iran tensions have been deescalated,” wrote Bill Baruch in Kitco News.
U.S.-Iran tensions escalating after an air strike that killed an Iranian general last week are feeding into strength for gold prices. In Tuesday’s trading session, gold rallied to a 6 ½-year high and analysts ...
Last Friday’s market session threw its first speed bump of 2020 at investors after a U.S. airstrike on Baghdad resulted in the death of a top Iranian general. Investors flocked to safe havens on fears that the airstrike would result in a larger conflict—this allowed gold to hit a 6-year high. Gold went up 1.5% to reach above the $1,550 per ounce price mark.
While this strategy is highly beneficial for short-term traders, it could lead to huge losses compared to traditional funds in the fluctuating or seesawing markets.
A renewed risk-on sentiment in stocks put gold gains on the backburner near the end of 2019, but the precious metal’s fortunes could turn in 2020, according to City Index technical analyst Fawad Razaqzada. ...
U.S. gold futures also edged up 0.3%, to $1,492.80. For many investors, gold is the standard in precious metal investing, which has become more accessible than ever thanks to options via an exchange-traded fund (ETF) wrapper like the SPDR Gold MiniShares (GLDM) . Gold ETFs can be bought and sold freely via an exchange when compared to physical gold.
Gold prices have veered lower in recent weeks as riskier assets have come back into style, but the case for bullion, one of 2019's best-performing commodities, remains strong heading into next year and ...
Some commodities market observers believe that trend will continue in 2020, potentially spelling opportunity for nimble traders with geared ETFs such as the Direxion Daily Gold Miners Bull 3X ETF (NUGT) and Direxion Daily Jr Gold Miners Bull 3X ETF (JNUG) . NUGT seeks daily investment results, before fees and expenses, of either 300% or 300% of the inverse (or opposite), of the performance of the NYSE Arca Gold Miners Index. JNUG seeks daily investment results, before fees and expenses, of 300% of the performance of the MVIS Global Junior Gold Miners Index.
In Monday's early trading session, the euphoria of the capital markets on last week's "phase one" trade deal may already be losing steam, especially when looking at steady gold prices. Rather than prices falling from a renewed risk-on sentiment, gold prices held, showing signs that bullish gold investors are skeptical of a the trade deal.
“The gold market is adding to strong gains following the latest Federal Reserve monetary policy announcement and after data highlighted weaker-than-expected producer inflation pressures,” wrote Niels Christensen in a Kitco News report. The index is a modified market capitalization-weighted index comprised of publicly traded companies that operate globally in both developed and emerging markets, and are involved primarily in mining for gold and, to a lesser extent, in mining for silver.
What happens with the U.S.-China trade deal will remain a major market mover as both sides struggle to complete a “phase one” stage agreed to in October. “Trade negotiations, rather than the U.K. elections or the December FOMC (Federal Open Market Committee meeting), continue to set the tone of trading for the gold market,” said Standard Chartered. Traders looking to buy the dip can play gold miners and look at the Direxion Daily Gold Miners Bull 3X ETF (NUGT) , which makes a play on gold miners.
Leveraged ETFs use the futures markets to magnify the returns of a specific index. These ten leveraged ETFs are the most popular with investors.
Below is a look at ETFs that currently offer attractive buying opportunities. The ETFs included in this list are rated as buy candidates for two reasons. First, each of these funds is deemed to be in an uptrend based on the fact that its 50-day moving average is above its 200-day moving average, which are popular indicators for gauging long-term and medium-term trends, respectively. Second, each of these ETFs is also trading below its five-day moving average, thereby offering a near-term 'buy on the dip' opportunity, given the longer-term uptrend at hand. Note that this prospects list also features a liquidity screen by excluding ETFs with average trading volumes below the one million shares mark. As always, investors of all experience levels are advised to use stop-loss orders and practice disciplined profit-taking techniques. To get access to all ETFdb.com premium content, sign up for a free 14-day trial to ETFdb.com Pro.
While most were preparing for Thanksgiving dinner on Thursday, palladium investors were feasting off gains as the precious metal reached $1,841. Analysts are already predicting that the precious metal ...
Major indexes like the S&P 500 and Nasdaq Composite were hitting highs on Monday, making precious metals an afterthought, but global investment firm Goldman Sachs is bullish on gold with a $1,600 per ounce price level forecast in 2020.
Bullish gold traders didn’t get the news they wanted when the most recent Federal Reserve minutes revealed that more rate cuts may not be on the horizon, which could feed into lower gold prices. Last month, the central bank instituted its third straight rate cut by 25 basis points—a reversal from last year’s four straight rate hikes. “Federal Reserve officials generally agreed that they likely won’t need to cut interest rates again unless economic conditions change significantly, according to minutes released Wednesday from their most recent meeting,” noted a CNBC report discussing the Fed’s most recent minutes in which it cut rates by a quarter point last month.
Strong U.S. housing data should've helped boost the markets in Tuesday's trading session, but it was once again trade war news coming to the forefront as U.S. President Donald Trump said he'd raise tariffs in China was unwilling to make a trade deal. In the precious metals arena, gold was in a consolidation phase despite the recent housing data. "U.S. Housing starts rose in October and permits for future home construction jumped to a 12-year high," wrote David Becker in FX Empire.
Gold has fallen from its record highs earlier this year when inverted yield curves, fears of slowing global growth and the U.S.-China trade war spooked investors into seeking safe haven assets like precious metals. “The macro narrative has shifted from ‘recession or no recession’ to ‘no recession or cyclical upturn’ … Given the notable lack of physical support, the critical gold support into year-end, rests on both structural investor interest recommitting and CB [central banks] interest reengaging to offset potentially strong fresh paper shorts (who are underweight),” wrote Scotiabank commodity strategist Nicky Shiels.
The risk-on optimism in the stock market right now could be fleeting, which could pave the way for gold prices to surge in 2020. “From a physical perspective, if you’re an investor from a medium to longer term perspective, you just stay with this market and if your holdings are under your percentage allocation that you were looking to apply to your portfolio from the perspective of gold, then you just add to the position at these levels because I think 2020 is going to be a very, very volatile year and I think it’s going to be very positive for the metals,” said Peter Hug Global Trading Director, Kitco Metals. “Technically, the gold bears have the overall near-term technical advantage,” wrote Jim Wyckoff in Kitco News.
Treasury yields have been rising, which have pushed other safe haven assets like gold out of the way, but while the precious metal is down, it certainly isn’t out. “Gold markets have broken down rather significantly during the week, slicing well below the $1,500 level,” wrote Christopher Lewis in FX Empire. Lewis underscores the importance of that $1,450 price level in determining what gold could do in the forthcoming weeks.
Safe haven assets couldn’t hide from losses as a risk-on switch got flipped back on after positive news from a U.S.-China trade deal fueled a hunger for more equities. As such, precious metals like gold and silver touched down to three-month lows. “Safe-haven gold and silver prices are sharply down and have slumped to three-month lows in midday trading Thursday,” wrote Jim Wyckoff of Kitco News.