|Bid||27.00 x 27000|
|Ask||27.00 x 36100|
|Day's Range||26.96 - 27.39|
|52 Week Range||19.90 - 30.96|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||28.00%|
|Beta (3Y Monthly)||0.06|
|Expense Ratio (net)||0.53%|
The VanEck Gold Miners ETF (GDX) , the largest ETF dedicated to gold miners, is up 30.30% this year and one of the primary reasons for the fund's stellar showing is a spate of consolidation in the precious metals mining space. GDX is comprised of global gold miners, with a notable tilt toward Canadian and U.S. mining companies. Stock fundamentals like cost deflation across the mining industry, share valuations below long-term average and rising M&A are all supportive of the miners space as well, but those fundamentals could be glossed over if the dollar strengthens.
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.
Technically speaking, each big three U.S. benchmark has ventured under major support amid an early-December market downdraft, writes Michael Ashbaugh.
Newmont Goldcorp Corp. said Monday it has set a $1 billion stock repurchase program, to be completed in the next 12 months. Based on Friday's stock closing price of $38.40, the program implies the buyback of up to 26 million shares, or about 3.2% of the shares outstanding. The stock rose 0.3% in morning trading. The gold miner also said Monday that it expects 2020 attributable gold production of 6.7 million ounces at an all-in sustaining cost of $975 per ounce, compared with the FactSet gold production consensus of 6.98 million ounces. Gold futures were down 0.6% at $1,463.60 an ounce in early trading. Longer term, Newmont expects attributable gold production of between 6.5 million to 7.0 million ounces through 2024. Newmont's stock has rallied 11.1% year to date, while the VanEck Vectors Gold Miners ETF has run up 28.0% and the S&P 500 has climbed 25.3%.
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 ...
The past four months have been tough for gold stock traders.Source: Shutterstock It didn't matter if you were bullish or bearish on the sector. Gold stocks have frustrated both sides. Rallies have been short-lived, with each bounce topping out at a lower level than the previous peak. And, none of the declines have caused the sort of selling pressure that usually creates a good buying opportunity for the gold stocks. * 7 Stocks to Buy in December So, the sidelines have been the best place to be for the past few months…InvestorPlace - Stock Market News, Stock Advice & Trading TipsAnd, at least for the near future, the sidelines still look like the right spot.Look at this updated chart of the VanEck Vectors Gold Miners Fund (GDX)…GDX peaked in early September. It then fell all the way down near $26 per share. Ever since then, each rally has peaked at a lower level, and each decline has tested the same $26 level as support. This action has created a "descending triangle" pattern on the chart. It's a bearish pattern that usually breaks to the downside.There is room inside the pattern for GDX to bounce a bit in the very short term. But, unless GDX can break the pattern of lower highs and close above $27.70 or so, the gold sector has lower to go.Notice how all of the various moving averages (the squiggly lines on the chart) are in a bearish formation - with the 9-day exponential moving average (EMA) trading below the 20-day EMA, and the 20-day EMA below the 50-day moving average (MA). This condition is going to make it hard for the GDX to mount a sustainable rally. And, if GDX makes another lower high and then turns back down to test the $26 support level again, the odds are high that support will fail this time.GDX has tested the $26 level five times in the past three months. Each test weakens the support level a bit. It's like when a person jumps up and down on a frozen lake. Each jump cracks the ice just a bit, until the ice finally breaks.I suspect the next trip down to $26 will break the ice for GDX. At that point, GDX should quickly drop towards the next support level near $25. And, that move should create the sort of exhaustive, oversold conditions that often mark the bottom of a gold stock correction.For now… GDX will probably pop a bit higher in the days ahead. But, it will be a short-lived bounce. The gold sector still has lower to go. And, most traders should stay on the sidelines.Best regards and good trading,Jeff Clark Reader MailbagToday in the mailbag, subscribers disagree with Jeff's "insidious thoughts"…At times a brilliant man, Jeff Clark is carried away by impractical thoughts.Examples are:1\. His backing on Bitcoin. He has to save readers, not unintentionally push them into a deep river. 2\. His prediction that the market would crash on a Monday in October 2019.He has to curb these insidious thoughts.- RakeshJeff, I'm thinking you are a perma-bear. I can see you thought 3020 on the SPX was the turnaround. Guess what? You got it so wrong.- JohnDo you see the same downside ahead in the market that Jeff does? Or will the bull market just keep running higher?Send your thoughts - along with any comments or questions - to firstname.lastname@example.org. In Case You Missed It…Available Now: New Retirement Blueprint from America's Most Trusted Options TraderFor the past 36 years, Jeff Clark has helped people retire wealthy… But he hasn't done it the usual way.He uses options.Options probably seem risky. Reckless, even.But his options strategy is different - unlike anything you've probably seen before.It helped him retire at 42. And thousands of others have used it to make $10,000… $100,000… even $1 million or more - in some rare cases.Which is why he's offering his never-before-released blueprint… and a year of his guidance… for just $19.Click here for all the details. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy in December * 7 Unsteady Stocks Investors Should Consider Selling Before 2020 * 7 Entertainment Stocks to Buy to Escape Holiday Blues The post Jeff Clark's Market Minute: The Ice Is Almost Broken appeared first on InvestorPlace.
Gold has long been regarded as a safe haven for investors in times of market turmoil. One way investors can gain exposure to the precious metal is by investing in gold stocks, shares of companies engaged in the exploration and mining of gold.
VanEck announced today preliminary yearend distribution estimates for its VanEck Vectors® exchange-traded funds.
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.
One of the most basic but useful metrics a stock trader can watch is daily trading volume. Volume is simply the total number of shares that change hands in a given time period. Essentially, volume is an ...
The gold market’s exuberance is catching up with the yellow metal. The shares of gold mining companies have been hit particularly hard. VanEck Vectors Gold Miners ETF (GDX) for example, is 15% today lower than where it stood in early September.
Mom called me on Monday to ask if I thought she should buy gold stocks yet.Source: Shutterstock Longtime readers will recall I talked mom out of buying gold stocks back in July. Mom's friends were buying the gold stocks. They were excited about the fortunes they were going to make. And, mom wanted in on the action.I talked her out of it partly because the gold sector had already rallied nearly 40% in just two months. Commercial Traders (aka the smart money) were building a large short position in gold futures. And, the Mother Indicator - my proprietary technical tool that suggests doing the exact opposite of whatever my mother wants to do with her money - was flashing a sell signal for the gold sector.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOn Monday, the VanEck Vectors Gold Miners ETF (GDX) was trading for just about the same price it was at back in July."Gold stocks haven't fallen like you thought they would," Mom said. "Besides, even your own people think gold is ready to move higher."Mom was referring, of course, to the mutinous essay my friend and managing editor Mike Merson published last Saturday."That's what makes a market, Mom." I said, "People have different opinions. There are lots of folks who disagree with me. But, I still think gold and gold stocks are headed lower first before they head higher again.""So, how will I know when it's time to buy?" she asked."You'll know it's time to buy," I replied, "when it's the last thing you'll want to do."Gold and gold stocks are down sharply since Monday - especially after yesterday's brutal decline. And, it looks like there's still a bit more downside ahead.Here's an updated look at the chart of GDX I showed you a few weeks ago.GDX closed yesterday right on the support line that has stopped every decline over the past two months. The problem, though, is the more a support line is tested, the weaker it becomes. It's like jumping up and down on a frozen lake. Eventually, the ice breaks.If support breaks on GDX, then the next downside target is at about $25 per share. I suspect there's a pretty good chance GDX will get to that level in the days ahead.Notice how all the various moving averages (the squiggly lines on the chart) are in a bearish configuration - with the 9-day EMA trending below the 20-day EMA, and the 20-day EMA trending below the 50-day MA. This sort of setup usually leads to lower prices.So, it's still too early to buy gold stocks here. But keep an eye on this chart, and remember what I told my mom…"You'll know it's time to buy when it's the last thing you'll want to do."Best regards and good trading,Jeff Clark Reader MailbagWill you be buying gold if it breaks to the downside? Are you looking to buy for the long haul, or a quick trade?Send in your thoughts - along with any other comments and questions - to email@example.com. In Case You Missed It…This lumberjack also happens to be a rocket scientist who created an entirely new way to invest in the tech marketJeff Brown stepped away from the bustle of Silicon Valley to live a quiet life. But that didn't stop him from becoming a top venture capitalist, or developing an entirely new way to invest in the tech market that anyone can use for the chance to see big, fast, once-in-a-lifetime gains like 494%… 617%… 793%… 884%… 2,293%… even 11,764%.It's not too late to find out his secret. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Sell Before They Roll Over * 5 Beaten-Up Stocks to Buy That Could Be Saved By An Acquisition * 4 Startup Stocks Getting Smashed The post Jeff Clark's Market Minute: Trading Advice for My Mother appeared first on InvestorPlace.
Gold prices remained steady last Friday following a strong October jobs report and that should benefit mining ETFs, including the VanEck Gold Miners ETF (GDX B+) and the VanEck Vectors Gold Miners ETF (GDXJ B).
With the U.S. and China moving to resolve a long drawn-out trade war, risk appetite has shifted and investors are selling off safety plays like gold and related ETFs. Meanwhile, Comex gold futures were 1.6% lower to $1,469.6 per ounce. “A gyration in market risk has continued to add upwards pressure to underlying gold allocations, while recent monetary policy guidance, strength in US equities, and potential trade deal headlines have obumbrated the market, capping the upside,” Christopher Louney, commodity strategist at RBC Capital Markets, wrote in a research note, according to MarketWatch.
Gold prices remained steady last Friday following a strong October jobs report and that should benefit mining ETFs, including the VanEck Gold Miners ETF (GDX) and the VanEck Vectors Gold Miners ETF (GDXJ) . The prognosis is interesting when considering GDXJ jumped more than 4% in October, but the fund traded slightly lower last Friday. Some analysts also argued that precious metals found further support from risks of a global economic slowdown and expectations that the Federal Reserve will implement more interest rate cuts to offset the growth concerns.
The capital markets are expecting a rate cut with algorithms like the CME FedWatch Tool calculating a 93% chance that the central bank will institute its third straight cut in 2019. How should gold traders ...
Gold was steady as she goes in Thursday’s trading session following the U.S. manufacturing sector’s IHS Markit data saying that its U.S. manufacturing Purchasing Managers Index for October went higher ...
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.