[Chart courtesy of MarketWatch.com] The major market indexes retraced Friday’s sell off, and then some, as Greece’s parliament voted in favor of strict financial reforms in order to receive the latest bailout package of at least $130 billion Euros. Athens burned for most of the night as protestors rioted and questioned the wisdom of having to endure more hardship after …
Battle Of The Titans: Soros Sells Gold ETF While Paulson Buys – Who’s Right?
The IB Times had this to say on the apparently opposing views of the sale and purchase of the Gold ETF (GLD) by Soros and Paulson: The confirmation of George Soros ETF gold sale has again garnered much media comment. Soros’ $28 billion fund decreased its holdings of the SPDR Gold Trust, the exchange traded fund. Soros had bought gold …
Oil ETFs Suffer From Demand Fear
Crude oil took a steep dive today and closed below the $100 level for the first time since the middle of March. USO, the ETF equivalent, lost 9.11% for the day. The entire commodity index followed suit with DBC dropping 6.7%, while gold (GLD) and silver (SLV) gave back 2.88% and 11.89% respectively. The dollar was the beneficiary and gained …
Gold ETF (GLD) Outshines Gold Mining ETF (GDX)
Is there nothing an investor can count on? A long-held gold investing maxim appears to be breaking down. It used to be that you could count on gold-mining stocks to do twice as well as gold itself when the price of the metal was rising. That’s what the WSJ (subscription required) reported in “Oil Prices Take a Bite Out of …
Gold ETFs Rally Into Record Territory
Just last Sunday, I posed the question “Do Gold ETFs Still Have Legs?” Yesterday, it was answered—at least for the time being, as gold ETFs rallied into record territory. While the equity markets went nowhere, precious metals had their day in the sun. My view has always been that known and unknown uncertainties will surface all of a sudden causing …
Sunday Musings: Do Gold ETFs Still Have Legs?
That was the question which was recently discussed in an article titled ”For Gold Prices, Is the Bull Run Over?” Let’s look at some highlights: After a decade-long bull run in the price of gold, the bears are beginning to come out of hibernation. That may seem hard to believe after the recent run up in gold’s price. With conflict …