|Bid||27.05 x 28000|
|Ask||27.21 x 28000|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||28.67%|
|Beta (3Y Monthly)||0.12|
|Expense Ratio (net)||0.53%|
The Organization of Petroleum Exporting Countries (OPEC) and its allied members could implement supply cuts in December, which should give oil traders a holiday season worth celebrating. OPEC will meet ...
As investors were lukewarm on the latest trade news talk, banks were able to prop up the markets on Tuesday with some positive earnings results. While precious metals gained strength on Monday's market session, technical data on Tuesday served as reminder that gold and silver could be in consolidation phase, which could give investors pause when looking into these alternative asset classes. "As gold and silver prepare for their next move, they are in the consolidation phase.
You can almost say that former Overstock CEO Patrick Byrne left his company wearing a golden parachute—literally –as he sold stock of the company he launched in 1999 and loaded up on gold as well as its digital currency equivalent Bitcoin.
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.
The U.S. dollar is at an all time high. The Broad Trade-Weighted Dollar Index is at 130.69 at last count, after reaching its all time high of 131.57 in September. This is a broad dollar index that is weighted by trade volumes and includes the Chinese yuan as well as other emerging-markets currencies.
Shares of gold miners traded broadly lower Monday, as gold prices fell below a psychologically significant level on the back of a rallying U.S. dollar and stock market. The VanEck Gold Miners ETF slumped 2.4%, and has tumbled 9.5% amid a four-session losing streak, with 41 of 44 equity components losing ground. Among the more-active U.S.-listed components, shares of Hecla Mining Co. slid 8.0%, Coeur Mining Inc. slid 7.3%, Harmony Gold Mining Co. Ltd. dropped 2.6%, Gold Fields Ltd. gave up 2.3% and AngloGold Ashanti Ltd. fell 2.7%. Meanwhile, the SPDR Gold Shares lost 1.7% and continuous cold futures lost 2.2% to fall below the $1,500 mark. The gold miners ETF has now gained 27.1% year to date, while gold futures have advanced 15.1% and the S&P 500 has climbed 19.0%.
The golden bounce has run its course. Gold stocks are headed lower again. And once this decline is over, traders will have an outstanding chance to buy into the gold sector.Source: Shutterstock Two weeks ago, the gold sector was oversold. We figured it was setting up for a bounce. But, we also suggested that any bounce would be short-term only. The gold sector still had more work to do on the downside. * 7 Rental REITs to Buy Regardless of a Recession That work has started again.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHere's an updated look at the chart of the VanEck Vectors Gold Miners Fund (NYSE:GDX)…GDX rallied more than 10% right after we called for a golden bounce. Then the stock ran smack into resistance at $29.50 and turned lower. The decline over the past two days has pressed GDX down into the support of its various moving averages - which are all coiled around $28.45.Traders should remember that gold stock corrections tend to unfold in three distinct moves. There's the first, sharp move lower, followed by an oversold bounce, which is then followed by another sharp decline to a lower low.GDX is now in the third leg of its decline phase. We should expect the stock to make a lower low - below the $26.50 level it hit two weeks ago.The most obvious support below $26.50 is the early-July low at about $24.50. That's my target for this move. And, that's where traders should start looking to add exposure to the gold sector.The longer-term outlook for gold and gold stocks is as bullish now as it has ever been. But, it looks like the sector is going to suffer some short-term weakness.Traders who are looking to buy into the gold sector should have an excellent opportunity to do so sometime within the next few weeks.Best regards and good trading,Jeff Clark In Case You Missed It…Want This View in YOUR Backyard? Here's How…Try out my "3-Stock Retirement Blueprint."In short: It's a way to generate thousands of dollars every year… using just 3 stocks.I've been using this strategy for years.It helped me retire at 42… and I continue to use it to make thousands of dollars every year.I'm revealing how it works… and I'm even giving away the names and tickers of the 3 stocks you need to get started. -- Millionaire trader, Jeff ClarkYes, Show Me The 3 Stocks. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 4 Stocks to Sell and 6 Stocks to Buy on Vaping Fears * 7 Rental REITs to Buy Regardless of a Recession * 5 Entertainment Stocks Getting Crushed The post Jeff Clark's Market Minute: Here's When to Buy Gold Stocks appeared first on InvestorPlace.
Up more than 33% year-to-date, the VanEck Vectors Gold Miners ETF (GDX B+) is one of 2019’s best-performing non-leveraged ETFs, but as gold prices have recently stalled, some of the air has come out of the miners trader with GDX trading lower by 2.60% this year month.
On Tuesday, Nancy Pelosi, the speaker of the House of Representatives, formally ordered an investigation into President Trump’s impeachment.
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.
Precious metals choices feature funds, collectibles and bullion to give investors a variety of ways to ride the upward price trends of the shiny assets, explains Paul Dykewicz, editor of StockInvestor.com.
The Fed slashed interest rates for the second time since the financial crisis by 25 bps to 1.75-2% in its policy meeting to sustain a decade-long economic expansion.
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 ...
The gold sector is overdue for a short-term bounce. But, after that, there's more downside ahead.Let me explain…Source: Shutterstock Corrections in the gold sector typically unfold in three distinct "legs." The first leg is a steep decline from the top. That's what we've seen over the past week and a half. And, for reasons I'll explain in a moment, that first decline phase should end soon - like today or tomorrow - and then be followed by the second "leg," which is an oversold bounce off of support.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Momentum Stocks to Buy On the Dip Once that bounce ends, then we'll get the third "leg" of the correction. That will be a deeper decline to an even lower low that exhausts the selling and eventually sets the stage for a new rally phase.Here's an updated look at the chart of the VanEck Vectors Gold Miners Fund (GDX) I showed you right before the gold sector started selling off. I've added some lines indicating my best "guess" as to how the rest of the decline will unfold…GDX broke its rising wedge pattern to the downside. And it sliced right through the first support level at $28. Now, the stock is approaching its second support level at about $26.25 or so. And the MACD and CCI indicators at the bottom of the chart have dipped into oversold territory.So, there's a good chance we're nearing the end of the first leg down. And, we'll soon see a bounce in GDX back up towards its former support line, now resistance, near $28.The prospects of a bounce are supported by this 60-minute chart of GDX…This chart shows a falling wedge pattern with positive divergence on the MACD and RSI indicators. This sort of setup often leads to a breakout to the upside. If that happens here, then GDX should be able to rally back up towards $28 or even $28.50 per share - which lines up nicely with the resistance line on the daily chart.Patterns on 60-minute charts tend to play out within four or five days. So, I expect we'll see a bounce get started in GDX sometime early this week.Following that bounce, though, traders should be on the lookout for the third leg of the gold stock correction. As I said earlier… There's more downside ahead for the sector.Best regards and good trading,Jeff Clark In Case You Missed It…Try out my "3-Stock Retirement Blueprint."In short: It's a way to generate thousands of dollars every year… using just 3 stocks.I've been using this strategy for years.It helped me retire at 42… and I continue to use it to make thousands of dollars every year.I'm revealing how it works… and I'm even giving away the names and tickers of the 3 stocks you need to get started. -- Millionaire trader, Jeff Clark.Yes, show me the 3 stocks. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Momentum Stocks to Buy On the Dip * 7 Dow Titans Breaking Higher * 5 Growth Stocks to Sell as Rates Move Higher The post Jeff Clark's Market Minute: Here Comes a Golden Bounce appeared first on InvestorPlace.
Gold has been benefiting from the US-China trade war. However, some observers, such as Jim Cramer and Citigroup, disagree on what's in store for gold.
More investors are turning to gold as global tensions escalate further, causing more market uncertainty. Dave Nadig, Managing Director at ETF.com, joins Akiko Fujita on The Ticker to discuss some of the best ETFs to invest in to ride out 2019.