SPDR Gold Trust (ETF)
Billionaire hedge fund manager John Paulson has soured on Barrick Gold (NYSE: ABX). According to his latest regulatory filings, Paulson sold his options to purchase 360,000 shares of Barrick in addition to trimming his stake in SPDR Gold Trust (NYSEMKT: GLD).
But should investors rush for the exits as well? Probably not - there's a good turnaround taking shape at the troubled gold miner.
A turnaround is brewing
Since more »
The gold market has started to recover in the past several weeks: During August, the price of gold rose by 4.5%. This rally may have positively affected gold producer’s stock such as Goldcorp (NYSE: GG): Share of the company rose by 17.9% during the past month. Will gold price continue to rise? Is it time to reconsider investing in gold and gold producers?
Gold price and gold more »
Gold’s shimmer is losing its luster. And as gold grows more dull, Barrick Gold (NYSE: ABX) feels more and more pain. Barrick is running into considerable trouble as gold, its primary commodity, falls down from the stratosphere.
Owners of SPDR Gold Trust (NYSEMKT: GLD) have seen extraordinary gains in recent years. This ETF reflects the bullion value of gold, and from 2008 to 2013 it increased 80%. In 2013, however, gold has taken a tumble, falling nearly 20%. Is this hallmark inflation hedge losing its shine?
In April, the Fed announced that if the economy continues to recover it would begin to taper its $85 more »
Hopefully people have woken up from the yellow fever that has infected many misinformed investors over the last decade. Contrary to the “Sham-Wow-like” commercials touting gold as the answer to your financial needs, the 22-month slide in the SPDR Gold Shares (NYSEMKT: GLD) illustrates that precious metals, and commodities in general, are not the best choice for a long-term investment portfolio. The decline in this widely-held ETF draws many parallels more »
Gold investors have not been treated very kindly the last two years. More and more people who listened to the gold guru's and bought the yellow stuff after september 2011 are throwing in the towel. It's a hard life these days for the gold bugs, stocks and oil are skyrocketing, housing is coming back fast and even soft commodities are on more »
Gold hasn’t performed well during the year: The price of gold has fallen by more than 20%. This tumble has also adversely affected gold companies such as Barrick Gold (NYSE: ABX). Shares of the company have plummeted more than 50% (year-to-date). But in the past month, the company’s stock has bounced back and rose nearly 10%. This rally coincided with the recovery of the gold market. Will this more »
Not long ago gold was approaching $2,000 an ounce. In June, the price of gold plummeted to under $1,200 an ounce -- a drop that happened very quickly.
Analysts are maintaining their target price of $1,250, which implies a modest downside. Yet the infomercials attempt to make the case that gold is destined to reach $5,000 an ounce within the next few years.
So what is in more »
Gold recently had its biggest quarterly loss since 1974 -- dropping by more than 20% from April to the end of June. The price of gold (and precious metals in general) plummeted because rising interest rates and an improved US economy make other investment vehicles look more attractive and lessen demand. Based on a cursory analysis of July, a month where gold is up slightly so far, it looks like the more »
Hedge fund titan John Paulson has received a lot of negative press in recent months over his firm’s gold position. Paulson’s fund, Paulson & Co., maintains a sizable investment in gold.
But as gold has tumbled, Paulson’s gold holdings have performed terribly. According to Bloomberg, in June, Paulson’s gold fund was down as much as 65% this year.
Despite suffering enormous losses, Paulson sees no reason to more »
Gold is possibly the most "love-it-or-hate-it" investment asset. It's supposed to be a great hedge against inflation, and it seems like the perfect asset for those who want to preserve their wealth. On the flip side, it is very difficult to estimate its fair value with a minimum degree of certainty.
Over the past nine months, gold has been trapped in bear-market territory, mainly because of increased optimism for more »
People have been trading gold for more than 200 years now. Gold is the one commodity that has remained attractive over the years with gradual gains. However, over the last few years, gold’s price rally reached new heights approaching the $2000 per ounce mark in August 2011. Nonetheless, this year has exhibited reverse characteristics, as gold plummeted to trade at around $1220 per ounce. Gold traded upwards of $1900 more »
Gold's 30% fall over the past six months has pushed nearly all investor sentiment to the negative side of the trade. Meanwhile, there has been no slowdown in money printing or debt raising and the long-term fundamental trends point toward a recovery in gold prices.
As a value investor, I tend to shy away from macro investing, but I also love to take positions that are contrary to the more »
Gold and leading gold ETF SPDR Gold (NYSEMKT: GLD) have recently rallied, but they haven’t performed well during most of the year: During 2013, the price of gold declined by 23%; the price of the ETF fell by 22.9%. Moreover, SPDR Gold's hoard plummeted by more than 30%. Is gold making a comeback? Is it time to reconsider investing in this precious metal or gold companies?
One more »
When it comes to precious metal investing, there’s a long-running debate: the metal or the miners?
As the price of gold has tumbled, gold mining stocks have been utterly eviscerated. Market Vectors Gold Mining ETF (NYSEMKT: GDX) dropped over 3% on Friday, while the spot price of gold fell only about 2%. GDX owns 30 of the biggest gold mining stocks; its largest holdings are Goldcorp, Barrick Gold, and more »
The first half of the trading year is over. For all of my readers, I hope it was a successful venture in the markets and your outside lives.
Given the numerous concerns heading into 2013, few investors expected to have a breakout performance in equities. We entered the year with concerns such as the looming fiscal cliff, payroll tax hike, and lukewarm corporate earnings forecast. President Obama won his re-election more »
It’s far from scientific, but perhaps it’s worth paying attention to: Is there a reality TV show indicator?
Investors have long cited, at least anecdotally, the existence of a newspaper indicator -- that is to say, when the front page of a mainstream newspaper is dedicated to the market, the top (or bottom) is in.
Reality TV as a cultural phenomenon is still somewhat new -- perhaps 15 or 20 more »
Gold, as measured by the SPDR Gold Shares ETF (NYSEMKT: GLD) is down a remarkable 30% from its 52-week high. However, that performance pales in comparison to the dismal showing of Barrick Gold (NYSE: ABX), Newcrest Mining (NASDAQOTH: NCMGY.PK), Eldorado Gold, (NYSE: EGO), Compa, "BVN," and AngloGold Ashanti (NYSE: AU), each down at least 60%!
Beware the Elevated Dividend Yields
Unlike GLD, four of these five majors pay stock dividends more »
I don’t know about you, but I think we can all agree that gold has been an awful investment lately. It went from being coveted treasure to the atomic bomb. The gold community is busily debating over whether or not gold is over-valued, under-valued, a buy, or a sell, and etc.
The buy gold thesis
There is perhaps no asset more controversial than gold. Its critics characterize it as a barbarous relic -- a rock with no inherent value. Its supporters build their portfolios around it, arguing that gold is a safer bet than even the US dollar.
While it has been great to hold the yellow metal for most of the previous decade, the last two years have not been kind to gold. After peaking more »
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