SSgA SPDR Gold Shares
Latest SSgA SPDR Gold Shares News and Updates
What Could Drive IAMGOLD Corp.’s Valuation Going Forward?
IAG stock could continue to gain traction due to its high operational leverage, at least as long as the upward trend in gold prices continues.
Gold and Silver Fell on July 22
At 2:50 PM EDT on July 22, precious metal producers Barrick Gold (ABX), Newmont Mining (NEM), and Royal Gold (RGLD) gained ~1%, ~2.0% ,and ~0.77%, respectively.
Gold Prices Have Been Flat despite the Weak Dollar
Gold (IAU) (GLD) prices usually have a strong negative correlation with the US dollar (UUP). Gold, like other commodities, is denominated in the dollar.
Understanding IAMGOLD’s 2Q17 Earnings Highlights
IAMGOLD’s (IAG) 2Q17 production was 223,000 ounces of gold—growth of 26,000 ounces or 13% year-over-year (or YoY).
What Caused the Fall in Precious Metals?
Gold prices plummeted on Wednesday, January 25, 2017, and gave the lowest close in recent weeks.
How Much Does the US Interest Rate Influence Gold?
Gold and interest rates have a close inverse relationship. The higher the rate for Treasuries, the lower the demand for non-yield-bearing assets such as gold and silver.
Commodities Are Mixed in the Early Hours on March 19
At 6:05 AM EST on March 19, the West Texas Intermediate crude oil futures for May 2018 delivery were trading at $62.20 per barrel—a drop of 0.34%.
Do Central Bank Gold Holdings Point to a Bright Future for Gold?
Central banks have been net buyers of gold since the beginning of the financial crisis of 2008.
Why investors should watch ETF holdings closely
Outflows from exchange-traded funds (or ETFs) led to an ~28% fall in gold prices in 2013. They sold a combined 881 tons of gold. Investors should monitor the change in ETF holdings.
Goldcorp’s cost reduction compared to its peers
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.
Key Insights from Goldcorp’s 3Q17 Earnings
Goldcorp (GG) reported its 3Q17 results after the market closed on October 25, 2017. It reported EPS (earnings per share) of $0.13, which beat analysts’ expectations by $0.02.
How Stocks and Bonds Reacted to Trump’s Victory
The CBOE Volatility Index suddenly rose 6.0% on November 9, 2016, after it was clear that Trump had unexpectedly clinched the election.
Low crude oil prices impact gold
Cheaper oil means lower inflation. This means gold should be affected negatively since it’s usually considered a hedge against inflation.
Gold Rose amid Increased Demand for Safe-Haven Assets
These economic concerns and monetary stimulus expectations have decreased the probability of an interest rate hike by the US Federal Reserve, and the chances of an interest rate hike in July dropped to zero.
Things you need to do today before inflation takes off
So what should investors be doing today? While inflation may take another year or more to get going, it’s not too early to start implementing long-term inflation hedges.
4 must-know facts about rising inflation and your portfolio
Recent readings have shown that inflation has stabilized, which is a good thing, but signs of an imminent acceleration in inflation are still scant.
Assessing variables that drive the outlook for gold prices
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.
Palladium Trades at Multiyear Low Owing to Chinese Slump
Palladium has seen six out of seven down trading days as of January 12. The recent stock market slump in China, which caused global tumult, hurt palladium.
Copper, Gold, and Silver Are Trading Lower on Thursday Morning
Copper is trading lower on Thursday. At 6:36 AM EST, the COMEX copper futures contract for July delivery was trading at $2.06—a decline of 1.1%.
These Gold Miners Surprised Us with Unit Costs in 3Q17
AISC (all-in sustaining costs) are an encompassing measure that helps compare miners’ performance—a vital metric for investors. They show the company’s margin cushion at prevailing gold prices (GLD)(IAU).
How US labor conditions impact gold investors
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.
Gold ETFs and Miners Taking Cues from Rate Hike Conundrum
Investments in the precious metals sector—including mining—substantially depend on the rate hike conundrum.
Lagunas Norte: Increasing Barrick’s cost per unit
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.
Gold Trading around $1,300, Silver Declines
At 8:45 AM Eastern time, gold futures contracts for June delivery were trading at $1,298.75 per ounce, a gain of 0.23%. Silver was trading at $17.59 per ounce, a loss of 0.37%.
How Closely Are Equities Tracking Gold?
Precious metals often run in the opposite direction of stocks. Whenever the risk appetite of investors is high, stocks tend to perform well.
Why Did Crude Oil Fall 2.2% Last Week?
US crude oil prices (USO) (OIIL) fell by 2.2% in the week ended June 17, 2016. Crude oil closed at $47.98 per barrel on the same day.
Why Is Gold Struggling at a 1-Week Low on August 8?
At 2:40 PM EST on August 8, the COMEX gold futures contract for December delivery was trading at $1,341.35 per ounce—a drop of ~0.23%.
Economists Disagree with Trump’s Fiscal and Trade Deficit Views
Donald Trump has been vociferous about cutting taxes. He intends to reduce the current seven tax brackets to three.
Copper, Gold, and Silver Are Stable Early on October 7
At 6:35 AM EST on October 7, the COMEX copper futures contract for December delivery was trading at $2.15 per pound—a fall of ~0.12%.
Why Is Gold Trading at Its Lowest Price Levels in 3 Weeks?
The market is anticipating the speech by the Federal Reserve chair, Janet Yellen, at the annual central bankers meeting to be held in Jackson Hole, Wyoming, on August 26.
Why US public debt increased year-over-year in FY14
U.S. public debt is the amount owed by the federal government in terms of outstanding treasury securities. For September 2014, U.S. debt to GDP was 102.9%.
Why the US real interest rates stabilized in September
Real interest rates are adjusted for inflation. As real interest rates rise, other investments usually become more attractive. This reduces the demand for gold and vice versa.
Must-know: Which safe havens are truly safe?
Although not considered safe haven assets, in the current context of high geopolitical risk and consequently volatility, investors could consider investing in sectors like energy and large cap companies.
Is There a Significant Upside to Goldcorp’s Production Guidance?
In 2015, Goldcorp (GG) achieved record gold production of 3.5 million ounces. This is a solid 24% growth YoY. The company achieved its production guidance of 3.3–3.6 million ounces.
Are Analysts Turning Bullish on Gold Post-Brexit?
According to the median of 12 forecasts in a Bloomberg survey of analysts and traders, gold prices could reach as much as $1,424 per ounce by the end of the year.
Once Again, Soros Makes Money off the UK’s Woes
Four days before the UK (EWU) decided to leave the European Union (VGK), Soros warned the markets of a “Black Friday” and a crash in the pound.
Why execution is key to Barrick’s share price going forward
Barrick’s high financial leverage is a key investor concern. Resolving this could lead to rerating of Barrick stock, a positive for Barrick’s share price.
What Goldcorp’s healthy prospects mean for investors
Goldcorp’s asset portfolio is located in politically stable, low-risk jurisdictions in the Americas. This is one of Goldcorp’s key advantages. Many gold miners are facing political instability and taxation issues.
Gold Fell as US Interest Rates Soared
Investors were somewhat pessimistic about gold during the last quarter of 2016. Most of the fluctuations were due to the news of the interest rate hike.
Why India’s real interest rates are moving up, affecting gold
Tracking China and India’s inflation figures can give you insight into gold prices’ future direction. It also provides you a look into gold-backed exchange-traded funds (or ETFs) like the SPDR Gold Shares (GLD).
India’s Slumping Gold Imports Are Bad News for Gold Investors
India imported gold worth $1.97 billion in June—a fall of 37% YoY (year-over-year). That’s quite low compared to a rise of 10.50% YoY in May.
Strong Equity Markets Pinned Gold Lower
As gold rose initially, the revival in the equity markets shadowed the precious metal. Silver maintained its gains. It’s used as an industrial metal.
How Were Copper, Gold, and Silver Trading on Monday?
China’s better-than-expected growth in real estate investments in April supported copper prices on Monday.
What Are Leon Cooperman’s Top Holdings?
In Q3, billionaire investor Leon Cooperman’s top five holdings were Fiserv, Alphabet, United Continental, Chimera Investment, and Cigna.
What Factors are Impacting Yamana Gold’s Valuation?
Yamana Gold’s (AUY) valuation multiple has varied widely between 5.1x and 15.1x.
Why demand for gold may be waning around the world
The fraction of total gold output held by central banks around the world has continued to decrease over the last decade and a sharp reversal in this trend is unlikely.
Must-know: Why central bank policies impact gold price
Central bank policies can have a significant impact on gold price. Central banks are a large gold holder. They own ~30,500 tons of gold. This is close to 20% of the gold ever mined. As a result, their policies on gold sales, gold purchases, and other monetary policies can have a significant impact on gold price.
Gundlach on Higher Yield: Watching the Copper-to-Gold Ratio
Billionaire investor and bond guru Jeffrey Gundlach also shared his view on bond yields in an interview with CNBC.
Must-know: Why the Fed drove up emerging market asset prices
Many economists, like the Nobel Prize–winning Paul Krugman, believe that the Fed acted as a “white knight” in 2008, saving the global economy in the dire aftermath of the financial crisis.
Will Goldcorp’s All-In Sustaining Costs Be Higher than Peers’?
Goldcorp continued with its lower cost trend, as the key cost metric AISC (all-in sustaining costs) fell 21% YoY and remained almost flat QoQ in 3Q15.
Why increasing money supply is related to inflation
Money supply is the total amount of currency and other liquid instruments in circulation in an economy. Money supply data is usually collected and published by the country’s central bank.
Gold Gains on US-Mexico Trade Deal—What’s the Upside?
Gold prices (GLD) recorded their first weekly gain last week after six weeks of continued losses. What changed?
As Gold Miner ETFs Rally, Why Are Gold Prices Headed South?
When gold prices fell by 11% in 2015, GDX amplified that loss by returning -25%. In 2016, GDX amplified gold’s gains positively.
Must-know: An overview of Newmont Mining
Newmont Mining Corporation (NEM) is the world’s second largest gold producer and the only gold company included in the S&P 500 Index.
What Led to Weaker Production Performance for Kinross in 2Q16?
Kinross Gold (KGC) produced 671,267 GEOs (gold equivalent ounces) in 2Q16, which represents a 1% YoY (year-over-year) rise but a sequential decrease of 2%.
Why Gold’s Safe-Haven Demand Remains Tepid
Gold is often touted as the safe-haven asset that investors embrace in times of economic and political uncertainty.
Overall Snapshot of the Market on November 25
On November 25, the SPDR S&P 500 ETF closed on a flat note ahead of the holiday. It closed at $209.3. The Energy Select Sector SPDR ETF fell by 0.81% on the day.
Eldorado Gold: The Worst-Performing Gold Miner in January
Eldorado Gold (EGO) is Canada’s second-largest gold mining company, whose price is trading at $2.22 per share as of January 28, 2016.
How Do Barrick Gold and Newmont Goldcorp Stack Up?
So far, Barrick Gold (GOLD) stock has been trading in a narrow range in the fourth quarter. The stock has risen almost 30% in 2019.
Will Barrick Gold See Any Upside Going Forward?
Barrick Gold (ABX) stock has fallen 30% year-to-date, and it has underperformed relative to its peers in the gold sector. This is mainly due to the firm’s high debt profile.
Which South African Miner Offers the Optimal Geographical Mix?
AngloGold Ashanti (AU) it is less exposed to South Africa than other South African miners. About 28% of its production comes from South Africa.
Gold Prices Remain Almost Flat Despite the Appreciating Dollar
This series analyzes gold prices and market fundamentals. June gold futures trading on the COMEX slightly declined by 0.02% on May 22, 2015.
Why an increase in real interest rates makes gold lose its sheen
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.
Gold Inches Higher on Weaker Dollar and Global Uncertainties
After falling for two consecutive trading days, gold regained its strength on Wednesday, June 29, amid increasing concerns over the stability of the global markets.
Barrick’s Cortez mine: Production down year-over-year
The Cortez mine is one of the largest and lowest-cost mines in the world, with huge upside exploration potential. It is Barrick’s largest-producing mine and contributes close to 15% of the total production.
How Are Silver Miners Doing as Silver Outshines Gold?
Silver has outperformed gold year-to-date (or YTD). The SPDR Gold Shares ETF (GLD) has risen 17% YTD, while the iShares Silver Trust ETF (SLV) has risen 24%.
Can Newmont Mining Continue Its Outperformance Going Forward?
Newmont’s gold all-in sustaining costs were 16% lower YoY. The company’s ongoing portfolio rationalization efforts should also lead to even leaner assets.
Commodities Are Stable, Crude Oil Rose to 3-Week Highs
Crude oil prices regained strength last week amid a decline in crude oil inventory levels and expectations of an extension of the supply cut agreement.
Gold Prices Decline as the US 10-Year Treasury Yield Strengthens
COMEX-traded gold futures for June delivery fell marginally by 0.24% and closed at $1,190.30 per ounce on Wednesday, May 6, 2015. Gold prices were down.
Gold Appears to Be Solid for the Short Term
If the uncertainty in the Eurozone increases, gold may rally. On the other hand, a sooner-than-expected rate hike would likely push down non-yielding assets such as gold.
Kinross Gold Is Financially Comfortable after Its Acquisitions
Kinross Gold had $2.5 billion in liquidity as of September 30, 2015, including $1 billion in cash and $1.5 billion in undrawn credit facilities.
Citi Upgrades Barrick Gold—Why the Stock Needs More to Lift Off
Citigroup’s (C) Alexander Hacking upgraded Barrick Gold to “neutral” from “sell” on August 28 and lowered its target price from $12 to $11.
Gold Prices Are Expected to Trade in a Narrow Range
The Fed rate hike expectation has been one of the biggest factors driving gold prices for some time. Interest rates have been near zero since 2008.
Is Gold Falling Due to Unwarranted Optimism?
Last year was a volatile year for the gold market. Softer demand from China and India, coupled with Trump’s victory, had immensely affected the precious metal.
Which Gold Stocks Do Analysts Love and Hate?
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.
Gold Demand Is Waning: What Investors Can Expect
The outlook for gold demand in India is expected to remain weak due to weaker monsoons and a lack of festivities. This puts pressure of the gold demand.
Why Did Gold Prices and Gold Mining Stock Performances Diverge in 1H17?
Gold miners in 2017 seem to be driven more by company-specific factors than by the direction of gold prices.
Understanding the Long-Term Growth Drivers for Silver Miners
After years of cutting back on sustained capital expenditure, silver miners—like their gold mining peers—have started to refocus on production growth.
How Has Purchasing High-Yield Debt Helped AngloGold?
AngloGold’s net debt fell by 32% in 1H16 over 1H15, mostly due to the sale of its Cripple Creek & Victor mine to Newmont Mining for $820 million.
Diversify Broadly and Consider Alternative Investments
Rising correlation across asset classes is a sticky problem that investors face while investing in today’s markets.
Gold Prices Trade Flat: Sluggish Demand and Improving US Economy
COMEX-traded June gold futures fell marginally by 0.50% and closed at $1,183 per ounce on May 11. Gold prices traded almost flat—led by weak Asian demand.
Production at Pueblo Viejo increases due to ramp-up
Barrick Gold’s 60% share in 3Q14 production at Pueblo Viejo was 168,000 ounces, an increase of 49% from the year-ago level. The increase is because of the full ramp-up of the mine following modifications to the facilities.
Why Investors Should Take a Look at Gold in H2 2018
Gold prices have gone through a rough patch recently with prices closing near their seven-month lows.
Can Management Changes Break Gold’s Price Ceiling?
The gold mining industry is on a track to reverse its traditional method of mining to generate better shareholder returns.
How Yamana Gold Can Narrow the Valuation Gap with Peers
Yamana Gold’s (AUY) valuation multiple has varied widely between 5.1x and 15.1x. Yamana Gold is now trading at a forward EV-to-EBITDA multiple of 5.1x.
Why Are Commodities Mixed in the Early Hours?
At 6:30 AM EST on April 27, the West Texas Intermediate crude oil futures contract for June 2017 delivery was trading at $49.16 per barrel—a fall of ~0.93%.
Must-know: Why US debt to GDP and gold price move together
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.
Commodities Are Mixed in the Early Hours on April 25
At 7:30 AM EST on April 25, the West Texas Intermediate crude oil futures contract for June 2017 delivery was trading at $49.26 per barrel—a gain of ~0.04%.
Gold sinks on Greek bailout extension
Agreement on the Greek bailout extension sent gold reeling to under $1,200 per ounce. Highly indebted Greece now has four months to get its ducks in a row.
Why Are Top Money Managers Recommending Gold to Hedge Risks?
Increasing uncertainty, geopolitical concerns, and overvalued markets are giving fodder to gold (GLD) bulls.
Improving Demand: Gold Prices Increase for the Fourth Session
June gold futures trading on COMEX increased slightly by 0.01% on May 15, 2015, and settled at $1,225.30 per ounce. Gold prices rose for the fourth day.
Ray Dalio Increased His Bets on Gold during Q1
Ray Dalio increased Bridgewater Associates’ stake in the SPDR Gold Shares (GLD) and the iShares Gold Trust ETF (IAU).
Could the Temporary Suspension at Tasiast Impact Kinross’s Phase 1 Expansion?
Kinross’s Phase 1 at Tasaist should increase mill throughput capacity from 8,000 to 12,000 tons per day, reduce operating costs, and increase production.
Crude Oil Rose, Copper and Gold Were Weaker in the Early Hours
At 5:35 AM EST, the West Texas Intermediate crude oil futures contract for January 2017 delivery was trading at $47.91 per barrel—a rise of ~5.9%.
Technical analysis update – GDX and GDXJ
GDX consists of publicly-traded global companies. The companies are primarily involved in gold mining. It has assets worth $7.2 billion.
How Gold Miners Could Benefit from Deregulation
A record number of junior companies attended the Precious Metals Summit. We are finding companies with attractive development projects in North America and West Africa as well as some exciting discoveries that merit watching.
Comparing price movements in other commodities versus gold price
Gold is related to silver, oil, and copper. Relationships between commodities are examined to establish if one commodity’s price can fuel another commodity’s price. For example, it’s universally acknowledged that gold and silver prices are related. Silver’s price depends on gold’s price.
Why Stanley Druckenmiller Dissolved His Position in Barrick Gold
Druckenmiller has sold the firm’s position in Barrick Gold, which shows that he might have a strong outlook on the equity market.
Must-know: Why gold is important in China
In 2013, China passed India as the largest gold consumer. China’s private sector gold demand reached a record level of 1,132 tons in 2013. China’s middle class has been increasing. This supports gold demand. Recent research from the World Gold Council (or WGC) shows that there are 300 million people in China’s middle class. In just five years, China’s middle class is expected to grow to 500 million.
OPEC Mania Is Back: Will Crude Oil Soar?
US crude oil rose on November 18 due to the market’s belief that OPEC (Organization of the Petroleum Exporting Countries) members might cut their output.