Direxion Daily Jr Gld Mnrs Bull 3X ETF
Latest Direxion Daily Jr Gld Mnrs Bull 3X ETF News and Updates
How Investor Appetite for Risk Impacts Precious Metals
Gold and silver have seen trailing-five-day losses of 0.9% and 2.7%, respectively. The reason behind the fall in the precious metals is the buoyancy of the equity markets and the gains in the US dollar.
Will Falling Gold Prices Lead to More Carnage for Miners?
Gold continues to trade at its five-year low. It’s hovering in the range of $1,100–$1,150 per ounce. Gold futures on COMEX lost 5.90% on a YTD basis.
Are Gold and Volatility Moving Together?
The rise in precious metals over the last few months has been due to insecurity among investors, given the political climate.
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.
The Word on the Street: What Analysts Are Saying about AngloGold Ashanti
About 59% of analysts covering AngloGold Ashanti have issued “buy” recommendations. About 24% of analysts have issued “holds,” and 18% have issued “sells.”
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.
Why Was Gold the Best Performer?
Among the 24 commodities listed on the S&P GSCI (Goldman Sachs Commodity Index), gold has been the best performer. It topped the chart among commodities.
What Are Analysts Recommending Now for AngloGold?
About 59% of analysts covering AngloGold have given it “buy” recommendations. About 24% of analysts have issued “holds,” and 18% have issued “sells.”
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.
What Falling Miner RSI Levels Suggest
The RSI levels of our four select mining giants have all increased lately due to their higher stock prices.
Where Are Gold Prices Headed Next?
There are many factors that support higher gold prices in the medium- to long-term.
Are Equity Markets’ Valuations Stretched?
The International Monetary Fund (or IMF) also warned that the downside risks to the world financial stability have increased over the past six months.
Why Royalty and Streaming Companies Outperformed Peers in 2017
Royalty and streaming companies are quite different than other precious metal miners in terms of business model.
Gold Miners’ Key Valuation Catalysts as 4Q16 Results Draw Near
Valuation for capital-intensive industries The EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple is a good valuation measure for capital-intensive industries. It helps investors compare companies with varying capital structures. Higher multiples The chart above compares gold miners’ EV-to-forward EBITDA multiples and EBITDA margins for 2017. Among North American intermediate gold […]
Watch for These Catalysts in Intermediate Gold Miners’ Q4 Results
Intermediate gold miners are smaller than senior gold miners in terms of production and market capitalization, but they’re still generally liquid, unlike their junior counterparts.
Why Are Intermediate Gold Miners so Exuberant?
Intermediate gold miners are smaller than senior gold miners in terms of production and market capitalization, but they are still generally liquid.
How Are Goldcorp’s Project Pipelines Doing?
Goldcorp (GG) has one of the strongest project pipelines in the industry. It plans to compound returns by focusing on its existing mines with organic growth.
Gold Falls to $1,062, Even amid Instability after Paris Attacks
On Wednesday, November 18, 2015, gold fell to $1,062 per ounce, the lowest level in almost six years. Silver, platinum, and palladium fell 0.61%, 0.82%, and 2.6%, respectively that day.
The Correlation between Gold and Oil
Oil is widely used in mining exploration, and a surge in oil prices may squeeze miners’ margins, leading to a fall in their share prices.
Why Eldorado Gold Became the Least Impressive Gold Stock
Eldorado Gold (EGO) is one of the few gold stocks that have seen rapidly deteriorating sentiments from analysts in the last year.
Trump, Trade War, Powell: More Upside for Gold Prices?
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%.
Gundlach: Fed Has Lost Control—Where Is He Investing?
Amid the trade war, weakening economic indicators, and the yield curve inversion, Jeffrey Gundlach believes the Fed has lost control of interest rates.
Why Jeffrey Gundlach Sees Huge Upside in Gold
Jeffrey Gundlach sees upside potential in gold prices as negative-yielding debt rises worldwide. He sees gold rising to $1,600–$1,700 per ounce.
Bond Yields Sink, Gold ETFs Soar on Rising Recession Fears
Today, bond yields are sinking and stock markets are tanking as markets become fearful of an upcoming recession.
Gold Bucks Commodities’ Downtrend on Trade War Jitters
Gold prices received a boost after President Trump’s tweet that 10% duties would be levied on $300 billion of Chinese goods starting on September 1.
NEM-GG Merger: Newmont’s Special Dividend Announcement
In a press release, Newmont Mining (NEM) said this one-time special dividend will be paid to Newmont shareholders of record as of April 17, 2019.
Which Gold Stocks Could Surprise Markets in Q2?
After the turnaround in gold prices that began at the end of 2018, the fortunes for gold stocks are also looking brighter.
Dalio’s Answer to the End of the Lower-Rate Era Is Gold
Ray Dalio mentioned in a LinkedIn post on Wednesday that it’s important for investors to explore the market paradigm in which they’re currently operating.
Have Gold’s Fortunes Changed for Good after Hitting $1,400?
After remaining soft for the first five months of the year, gold prices (GLD) have seen a sudden turnaround since the end of May.
Why Wall Street Loves These Five Gold Stocks
Among miners, Eldorado Gold (EGO), New Gold (NGD), IAMGOLD (IAG), and Barrick Gold (GOLD) have seen the highest gains of 50.6%, 44.4%, 40.3%, and 36.4%, respectively.
Gold Breaches $1,400: What’s the Next Stop?
Gold is now trading close to a six-year high following the Fed’s dovish pivot at its June policy meeting. After being range-bound for the last five years, gold has finally broken out and its outlook is bullish.
Why Jeffrey Gundlach Likes Gold
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.
A Perfect Storm for Gold: All Macro Drivers Align
Fed rate cuts Fed policymakers are set to meet on June 18 and 19. Whereas the market has not priced in a rate cut in June, at least two rate cuts are expected by the end of the year. Amid the overall slowdown, US employment had been a bright spot until last month’s jobs report showed fissures may be appearing in the […]
Why Analysts Are Bearish on These Gold Equities
Among senior and intermediate miners (JNUG) (GDX), New Gold (NGD), Barrick Gold (GOLD), Eldorado Gold (EGO), and Kinross Gold (KGC) have the fewest “buy” ratings from analysts, at 0.0%, 16.0%, 38.5%, and 40.0%, respectively.
Checking In on Gold Miners Ahead of Their Q1 2019 Results
Gold prices have fallen 3.6% this year after falling ~1.9% in 2018, significantly underperforming broader markets.
EGO Skyrocketed in Q1—Could This Outperformance Continue?
Eldorado Gold (EGO) significantly outperformed its peers (JNUG) (GDXJ) as well as gold (GLD) in the first quarter with a gain of 60.8%.
Can IAMGOLD Hold On to Positive Wall Street Sentiment in 2019?
IAMGOLD (IAG) comes third, after Wheaton Precious Metals (WPM) and Agnico Eagle Mines (AEM), as far as the most “buy” ratings for gold stocks are concerned.
The Five Gold Stocks Wall Street Is Loving Lately
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).
What’s Affecting Analysts’ Revenue Forecasts for Gold Miners?
In this article, we’ll consider analysts’ estimates for senior gold mining companies’ (GDX) (JNUG) revenues going forward.
Are Slowing Production Pipelines Fueling Gold Miner M&A Activity?
The production growth of most of the miners (GDX) (JNUG) is either in decline or flat at best.
What Would It Take for Analysts to Be More Positive about KGC?
Of the 20 analysts covering Kinross Gold (KGC) as per the consensus compiled by Thomson Reuters, 40% have given it “buy” ratings, and 55% have given it “holds.”
Buffett on Gold: ‘Magical Metal’ Is No Match for ‘American Mettle’
Warren Buffett’s disdain for gold is well known. Once he said, “It doesn’t do anything but sit there and look at you.”
Where Druckenmiller Suggests Investing amid Market Fluctuation
Stanley Druckenmiller shared his views on markets and the economy with Bloomberg TV in December.
Analysts Aren’t So Bullish on These Gold Stocks
Among senior and intermediate miners, New Gold, Barrick Gold, Eldorado Gold, and Kinross Gold have the fewest “buy” ratings.
Gold-Backed ETFs Started 2019 on a Positive Note—More Upside?
According to the World Gold Council, holdings in gold-backed ETFs and similar products rose by 69 tons in 2018, equivalent to $3.4 billion worth of inflows.
Which Gold Stocks Are Looking Attractive in 2019?
In 2018, as gold prices (GLD) fell 1.9%, the VanEck Vectors Gold Miners ETF (GDX) multiplied that loss by falling 9.3%.
Why Gundlach and Einhorn Are Betting on Gold
Jeffrey Gundlach said during Barron’s 2019 Roundtable that “Gold and commodities broadly should benefit this year.”
Which Five Gold Stocks Are Analysts Loving So Far in 2019?
In 2018, as gold prices (GLD) fell 1.9%, the VanEck Vectors Gold Miners ETF (GDX) amplified that loss by falling 9.3%.
Why BNP Paribas Sees Gold Dropping Below $1,200 in 2019
Unlike other banks, BNP Paribas has a negative bias for gold going into 2019. Harry Tchilinguirian, global head of commodity markets strategy at BNP Paribas, is negative on gold (SGOL)(GLD).
Could Market Risks Restore Investor Confidence in Gold in 2019?
As we’ve discussed in this series, market uncertainty is increasing after an unusually calm 2017 and part of 2018.
Why the US Dollar Could Be Bullish for Gold in 2019
The US dollar (UUP) has been on an upward trajectory in 2018 so far. Year-to-date, it’s up ~7.4% compared to other major global currencies.
Could Market Risks Restore Investors’ Focus on Gold and Miners?
After a calm period in stock markets, downside risks have increased.
Could Gold Rise despite a Strengthening US Dollar?
The US dollar (UUP) has been on a fairly upward trajectory in 2018 thus far.
Why Execution on Growth Projects Will Be Key for IAMGOLD Stock
CEO Steve Letwin stated during IAMGOLD’s third-quarter earnings call that it’s focused on becoming a low-cost producer.
What Could AEM Address during Its Q3 2018 Earnings Call?
By October 17, Agnico Eagle Mines (AEM) has lost 20.3% of its value year-to-date, while the VanEck Vectors Gold Miners ETF (GDX) had fallen 14.3%.
Could Analysts Change Their Minds on Eldorado Gold?
Eldorado Gold (EGO) stock has seen rapidly deteriorating analyst sentiments in the past year.
Could Unprecedented Short Interest in Gold Mean a Bullish Future?
According to the COT report for the week ended August 10, money managers were net short on gold for the eighth straight week.
Why Speculative Money Positioning Hints at a Gold Rally
According to the COT report for the week ended August 3, money managers were net short on gold for the seventh straight week.
A Look at Goldcorp’s 20/20/20 Growth Plan in Q2 2018
Goldcorp has outlined its 20/20/20 growth plan, which aims at improving production, reserves, and unit costs by 20% each by 2021.
Growth Catalysts for IAMGOLD in 2018 and Beyond
IAMGOLD (IAG) has many organic growth opportunities. It’s pursuing expansion opportunities at existing deposits and expects initial resource estimates at Monster Lake, Nelligan, and Eastern Borosi.
A Look at Recent Analyst Ratings for Kinross Gold
None of the analysts covering Kinross Gold (KGC) recommended a “sell” rating on the stock. 40% of them have “buy” ratings, while 60% suggest a “hold” for the stock.
How Gold Reacted to Interest Rate Hike in December
Besides the slump of the US dollar during 2017, the other most important and most talked-about indicator is the US interest rate.
Are Gold Miners Besieged by Internal Issues?
Gold has had a solid year so far, up 13.5% through mid-October. And though it peaked in early September at over $1,350 per ounce, it had a quick drop back to $1,261 in early October only to bounce back over $1,300 in mid-October.
Reading the Technicals of Mining Shares in September 2017
Most mining shares witnessed an up day on Monday, September 25, 2017, as precious metals increased over the ongoing global tensions.
Reading the Correlation Trend of the Mining Stocks
Primero and Goldcorp have seen the highest correlation with gold, while Goldcorp has the lowest correlation.
Unpacking the Technical Indicators for Mining Stocks
Mining stocks have bounced back from the choppy markets we’ve seen over the past month. On July 20, most mining stocks saw upward movements in their prices.
Have Miners’ Relative Strength Levels Revived?
In this article, we’ll look at some important technical indicators for Coeur Mining (CDE), Barrick Gold (ABX), Buenaventura (BVN), and AngloGold Ashanti (AU).
Can Gold Breach $1,400 before the End of 2017?
One of the most important factors affecting gold right now would be a worsening US economic outlook.
Why Gold Stocks Edged Higher after Rate Hike
After remaining subdued for the past few months, gold futures last week recorded their highest weekly gain of 2.4% since February 3.
How Miners Correlated with Precious Metals in March 2017
Leveraged mining funds such as the Direxion Daily Junior 3X Gold Miners (JNUG) and the ProShares Ultra Gold (AGQ) also have significant correlations with their respective precious metals.
How Volatile Are Silver Miners?
Mining funds such as the leveraged Direxion Daily Gold Miners (NUGT) and the Direxion Daily Junior Bull Gold 3X (JNUG) rose substantially at the beginning of 2017.
What the Euphoric Equity Markets Suggest about Gold
US equity market euphoria US equity markets (SPY) (SPX) (DIA) (DOW) have been on a high since President Trump’s win in November 2016. Hopes of deregulation, tax cuts, and fiscal spending have spurred the markets, which have risen more than 10% in the last four months. Market participants’ take During a Bloomberg interview, BlackRock’s Global […]
Analyzing the Upward-Downward Correlation of Precious Metals
Mining companies with high correlations to gold include Randgold Resources (GOLD), Yamana Gold (AUY), Pan American Silver (PAAS), and Coeur Mining (CDE).
How Goldcorp Plans to Lower Its Costs Going Forward
Goldcorp’s (GG) all-in sustaining costs (or AISC) in 4Q16 were $747 per ounce, a fall of 24% year-over-year (or YoY) and 8% quarter-over-quarter.
Analyzing Upward-Downward Correlations of Precious Metal Miners
Mining companies with high correlations to gold include Agnico-Eagle Mines (AEM), Primero Mining (PPP), Silver Wheaton (SLW), and Franco-Nevada (FNV).
Reading Mining Companies’ Correlations
Precious metals prices have been falling since Donald Trump won the US presidential election on November 8, 2016. As a result, mining stocks have also been falling.
Could Goldcorp’s Long-Term Plans Please Investors?
Could production accelerate? Goldcorp (GG) missed its production estimate in 3Q16. Goldcorp has committed $1 billion to growth and expects to see production growth of 20% to 3 million ounces in the next five years. During its investor day on January 17, 2017, the company outlined several drivers for this. For an in-depth discussion of these drivers, […]
Where Are Mining Stocks’ RSI Numbers and Volatility Pointing?
The trailing 30-day returns of most mining companies are positive due to precious metals’ diminishing safe-haven appeal.
Understanding the Correlation of Mining Stocks in 2017
Precious metal prices have been falling since Trump won the US Presidential election on November 8, 2016. Mining stocks quickly followed suit.
Can Goldcorp’s Costs Play Catch-Up to Lower Its Costs in 2017?
Goldcorp expects its AISC to decline to $700 per ounce from the expected $850 per ounce in 2017, or 18% over the next four years (2017–2021).
What’s the Correlation between Mining Stocks and Gold?
Mining companies that have high correlations with gold include Agnico Eagle Mines (AEM), Alacer Gold (ASR), Alamos Gold (AGI), and AngloGold Ashanti (AU).
How Mining Stocks Reacted to Plummeting Metals
Mining companies that have high correlations to gold include Royal Gold (RGLD), Goldcorp (GG), New Gold (NGD), and Newmont Mining (NEM).
How Are Miners and Gold Correlated?
The substantial returns of most mining companies have been due to safe-haven bids that boosted gold and other precious metals.
What’s the Correlation between Gold and Miners?
Precious metals were doing well at the beginning of 2016.
Which Mining Stocks Have Strongest Correlations with Gold?
Leveraged mining funds such as the Direxion Daily Junior Gold Miners Bull 3X ETF (JNUG) and the ProShares Ultra Silver (AGQ) have fallen due to the decline in precious metals.
Miners and Their Upstream or Downstream Correlations to Gold
Precious metal prices have been falling since Donald Trump won the US presidential election on November 8, 2016. As a result, mining stocks have also been falling.
Reading the Upstream and Downstream Correlation of Mining Stocks
Precious metal prices have been falling since Donald Trump won the US presidential election. As a result, mining stocks have also been falling.
Westwood Remains Key to IAMGOLD’s Production Growth
IAMGOLD’s (IAG) Westwood project is located in southwest Quebec, Canada. This site started production in 1Q13.
A Look at Key Rating Changes for South African Gold Miners
In July 2016, JPMorgan Chase (JPM) turned positive on South African gold miners. It upgraded Harmony Gold Mining (HMY) from “neutral” to “overweight.”
Understanding the Volatility in Mining Stocks
The Physical Swiss Gold Shares ETF and the leveraged Direxion Daily Junior Bull Gold 3X have seen 30-day-trailing falls of 2% and 37.2%, respectively.
How Has the US Dollar Affected Platinum Prices?
The current weakness in the rand made it fall to all-time lows against the US dollar in early 2016 but has helped mining companies.
What You Can Learn by Reading Gold and Silver Technicals
Gold’s price rally on September 6, 2016, was the biggest increase in the precious metal since June. July and August were disappointing for precious metals.
Why Gold Reserves in Venezuela Are Declining
During the past year, Venezuela’s central bank swapped part of its gold reserves for $1 billion in cash, which indicates that it is desperate for cash.
How Is the Westwood Ramp-Up Progressing for IAMGOLD?
IAMGOLD’s (IAG) Westwood project is located in southwest Quebec, Canada. This site started production in the first quarter of 2013.
Where’s the Gold-Silver Spread Headed in August?
The gold-silver spread was trading at 66.1 as of August 2, 2016. This ratio suggests that it takes almost 66 ounces of silver to buy a single ounce of gold.
How Deep Did Gold-Silver Ratio Dive after the Fed’s Meeting?
The gold-silver ratio is an important element to consider when doing a comparative study of the two metals. The gold-silver ratio was 65.8 as of July 27, 2016.
Besides Gold Prices, What Is Driving Intermediate Gold Miners?
Intermediate gold miners are smaller than senior gold miners in terms of production and market capitalization, but they are still generally liquid, unlike their junior counterparts.
Which Gold Miners Have Gained the Most Year-to-Date?
As of July 25, 2016, the performance of the VanEck Vectors Gold Miners ETF (GDX) has significantly diverged from that of the SPDR Gold Shares (GLD) on a YTD (year-to-date) basis.
Why Is Wall Street More Bullish on South African Gold Miners?
Recently J.P. Morgan (JPM) upgraded Harmony Gold (HMY). It upgraded HMY from “neutral” to “overweight.”
Why Gold and Silver Posted Another Gain
Gold futures for August expiration rose 0.83% to close at $1,272.70 per ounce on Thursday, June 9, 2016.