VanEck Vectors Gold Miners ETF

AngloGold Ashanti that for the last three years, its management’s focus has been on the widening of its margins on a sustainable basis.

Goldcorp’s (GG) all-in sustaining costs (or AISC) are falling. In 2013, its AISC was $1,031 per ounce. It expects the AISC to be in the range of $950–$1,000 for 2014.

Cheaper oil means lower inflation. This means gold should be affected negatively since it’s usually considered a hedge against inflation.

Physical buying from China and India should support the demand for gold. But a rate hike by the Fed could be the catalyst that could take gold down.

It’s important to keep an eye on labor conditions since they offer a look at the future direction of gold prices and ultimately gold-backed ETFs.

Lower ore grade increases the amount of waste stripping required—in order to extract some volume of ore—as a result of mining more tons of waste.

The average ratio of the NYSE Arca Gold Miners Index and the S&P 500 Index (SPY) is 0.18 compared to the ten-year average of 0.68.

Gold doesn’t give any returns besides appreciation. Appreciation doesn’t always happen. As a result, gold has to compete against assets that yield something. When the return on the alternate assets begins to rise, the demand for gold falls. In a scenario where the real interest rates are rising continuously, the demand for gold—as an investment—will start falling.

All-in sustaining costs make up a comprehensive and important cost metric for gold mining companies. A lower AISC is better for gold miners.

Gold price’s reversal this year has created opportunities in gold stocks. The SPDR Gold Shares ETF (GLD) had gained 11% year-to-date as of Friday.

Newmont Mining is poised to overtake Barrick Gold as the world’s largest gold producer in 2018.

Mining companies like First Majestic Silver (AG), Silver Wheaton (SLW), Pan American Silver (PASS), Coeur Mining (CDE), and Hecla Mining (HL) are primarily into silver exploration.

The gold mining industry is on a track to reverse its traditional method of mining to generate better shareholder returns.

Debt to gross domestic product (or GDP) is the ratio that shows how much a country owes versus how much it earns. Investors use this ratio to measure a country’s ability to make future payments on its debt. This impacts the country’s borrowing costs and government bond yields.

Gold production is an important metric for gold miners, because miners generally try to increase gold production in order to reduce costs amid low prices.

As automobile catalysts comprise ~44% of the demand for platinum, the Volkswagen scandal curbed the demand for diesel-fueled cars that use platinum as a catalyst. This pulled down the already depressed platinum and comparatively strengthened palladium.

Kirkland Lake is first among analysts’ favorite gold stocks with 91% “buy” and 9% “hold” ratings. The target price implies a potential upside of 16%.

With declining gold prices, the most famous gold ETF, the SPDR Gold Shares ETF (GLD), has also lost its allure. It’s trading at lower volume.

Investors should watch out for any tailwinds or headwinds that could impact Newmont’s costs in 1Q15.

Among senior gold miners, Goldcorp is trading at the highest multiple of 10.3x—a premium of 31% compared to the peer average.

Hedge funds increased their net positions in the SPDR Gold Shares ETF during the first quarter.

Among major gold (GLD)(IAU) mining and gold streaming companies (GOAU), Wheaton Precious Metals (WPM) is analysts’ favorite and has received the most “buy” recommendations at 91%.

All-in sustaining costs (or AISC) came in at $554 per ounce, a reduction of $142 per ounce from the same period last year. The reduction was mainly due to lower sustaining capital expenditure (or capex).

In this series, we’ll analyze the various business aspects of Kinross Gold. We’ll also look at various key drivers that impact Kinross’s investors.

Gold and the U.S. dollar were associated when the gold standard was being used. During this time, the value of a unit of currency was tied to the specific amount of gold. The gold standard was used from 1900 to 1971. The separation was made in 1971. The U.S. dollar and gold were freed. They could be valued based on supply and demand.

Newmont Mining (NEM) has five projects in final stages, all of which will start production either this year or next.

In 3Q15, Goldcorp (GG) posted record gold production of 922,200 ounces—2% growth quarter-over-quarter and 42% growth year-over-year.

In 2015, the average net debt-to-EBITDA ratio of the six intermediate gold miners we’ve been evaluating in this series is 0.9x—a similar level to 2014.

Gold miners’ stocks have underperformed most of the market indices and gold itself. GDX has significantly underperformed GLD since 2008.

One of the dominant financial trends of the past decade has been a move by investors out of actively managed funds and into passively managed index funds or exchange traded funds (ETFs).

With selling pressure removed, normal gold demand trends may re-emerge Historically, there is a seasonal pattern to gold prices dependent on physical demand trends. Often, there is weakness in the summer when jewelry demand, primarily from China and India, is low and trading volumes decline. Seasonal strength often occurs from August to January, beginning with […]

Gold and gold miners didn’t start off the year on a good note.

Gundlach is bullish on gold. He expects the metal to reach new highs. His bullishness for gold also stems from his bearishness for the US dollar.

Since March, gold prices are on a tear due to uncertainty surrounding COVID-19. The SPDR Gold Shares has seen gains of 16.2% since March 18.

The last ten years have been a roller coaster ride for the gold (GLD) (GDXJ) (GDX) mining industry.

When money supply growth is used to prop up the financial and economic system instead of fuel strong economic growth, the price of gold relates to growth of the money supply.

Although every gold miner talks about only doing merger and acquisition (or M&A) strategies that are in shareholders’ best interests, GG sticks to its strategy—unlike most of its peers.

The junior mining space is very risky, given very limited options in terms of mines and their involvement in early stages. So it’s very important to identify the right junior stock.

A cap was put in place to stop the currency’s appreciation. An appreciating local currency is detrimental to exporters.

The gold price increase kept pace with the global money supply until recently. The relationship between the two appears to have broken.

China continued buying gold for the tenth consecutive month in September. The country also continued its de-dollarization bid.

Gold hit a fresh six-year high on Friday as trade tensions between the US and China escalated. The SPDR Gold Shares ETF (GLD) closed up 2%.

Increased shareholder returns were the main motivation behind the Newmont Mining and Goldcorp merger.

During DoubleLine’s investor webcast on June 13, Jeffrey Gundlach said, “I am certainly long gold.” His call on gold is based on his expectation that the US dollar (UUP) will finish lower this year.

Gold miners usually act as a leveraged play on gold prices. In 2018, the VanEck Vectors Gold Miners ETF (GDX) fell 9.3%, amplifying the 1.9% fall in gold prices (GLD).

In this series, we’ll consider recommendations, target prices, estimates, and potential upsides and downsides for senior gold miners.

Barrick has reduced its debt more than 57% in the last four years from $13.4 billion at the end of 2014 to $5.7 billion at the end of 2018.

When it comes to investing in stocks, Berkshire Hathway’s (BRK.A) chair, Warren Buffett, and Bridgewater’s founder, Ray Dalio, have similar advice.

Newmont Mining (NEM) reported its fourth-quarter earnings results before the market opened on February 21.

According to the gold demand trend released by the World Gold Council on January 31, annual gold demand increased by 4% in 2018.