Direxion Daily Jr Gld Mnrs Bull 3X ETF

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.

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.

The rise in precious metals over the last few months has been due to insecurity among investors, given the political climate.

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.

About 59% of analysts covering AngloGold Ashanti have issued “buy” recommendations. About 24% of analysts have issued “holds,” and 18% have issued “sells.”

When gold prices fell by 11% in 2015, GDX amplified that loss by returning -25%. In 2016, GDX amplified gold’s gains positively.

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.

About 59% of analysts covering AngloGold have given it “buy” recommendations. About 24% of analysts have issued “holds,” and 18% have issued “sells.”

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.

The RSI levels of our four select mining giants have all increased lately due to their higher stock prices.

There are many factors that support higher gold prices in the medium- to long-term.

The International Monetary Fund (or IMF) also warned that the downside risks to the world financial stability have increased over the past six months.

Royalty and streaming companies are quite different than other precious metal miners in terms of business model.

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 […]

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.

Intermediate gold miners are smaller than senior gold miners in terms of production and market capitalization, but they are still generally liquid.

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.

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.

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.

Eldorado Gold (EGO) is one of the few gold stocks that have seen rapidly deteriorating sentiments from analysts in the last year.

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%.

Amid the trade war, weakening economic indicators, and the yield curve inversion, Jeffrey Gundlach believes the Fed has lost control of interest rates.

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.

Today, bond yields are sinking and stock markets are tanking as markets become fearful of an upcoming recession.

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.

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.

After the turnaround in gold prices that began at the end of 2018, the fortunes for gold stocks are also looking brighter.

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.

After remaining soft for the first five months of the year, gold prices (GLD) have seen a sudden turnaround since the end of May.

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 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.

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.

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 […]

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.

Gold prices have fallen 3.6% this year after falling ~1.9% in 2018, significantly underperforming broader markets.

Eldorado Gold (EGO) significantly outperformed its peers (JNUG) (GDXJ) as well as gold (GLD) in the first quarter with a gain of 60.8%.

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.

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 article, we’ll consider analysts’ estimates for senior gold mining companies’ (GDX) (JNUG) revenues going forward.

The production growth of most of the miners (GDX) (JNUG) is either in decline or flat at best.

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.”

Warren Buffett’s disdain for gold is well known. Once he said, “It doesn’t do anything but sit there and look at you.”

Stanley Druckenmiller shared his views on markets and the economy with Bloomberg TV in December.

Among senior and intermediate miners, New Gold, Barrick Gold, Eldorado Gold, and Kinross Gold have the fewest “buy” ratings.

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.

In 2018, as gold prices (GLD) fell 1.9%, the VanEck Vectors Gold Miners ETF (GDX) multiplied that loss by falling 9.3%.

Jeffrey Gundlach said during Barron’s 2019 Roundtable that “Gold and commodities broadly should benefit this year.”

In 2018, as gold prices (GLD) fell 1.9%, the VanEck Vectors Gold Miners ETF (GDX) amplified that loss by falling 9.3%.

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).

As we’ve discussed in this series, market uncertainty is increasing after an unusually calm 2017 and part of 2018.

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.

After a calm period in stock markets, downside risks have increased.

The US dollar (UUP) has been on a fairly upward trajectory in 2018 thus far.

CEO Steve Letwin stated during IAMGOLD’s third-quarter earnings call that it’s focused on becoming a low-cost producer.

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%.

Eldorado Gold (EGO) stock has seen rapidly deteriorating analyst sentiments in the past year.

According to the COT report for the week ended August 10, money managers were net short on gold for the eighth straight week.

According to the COT report for the week ended August 3, money managers were net short on gold for the seventh straight week.

Goldcorp has outlined its 20/20/20 growth plan, which aims at improving production, reserves, and unit costs by 20% each by 2021.

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.

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.

Besides the slump of the US dollar during 2017, the other most important and most talked-about indicator is the US interest rate.

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.

Most mining shares witnessed an up day on Monday, September 25, 2017, as precious metals increased over the ongoing global tensions.

Primero and Goldcorp have seen the highest correlation with gold, while Goldcorp has the lowest correlation.

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.

In this article, we’ll look at some important technical indicators for Coeur Mining (CDE), Barrick Gold (ABX), Buenaventura (BVN), and AngloGold Ashanti (AU).

One of the most important factors affecting gold right now would be a worsening US economic outlook.

After remaining subdued for the past few months, gold futures last week recorded their highest weekly gain of 2.4% since February 3.

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.

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.

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 […]

Mining companies with high correlations to gold include Randgold Resources (GOLD), Yamana Gold (AUY), Pan American Silver (PAAS), and Coeur Mining (CDE).

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.

Mining companies with high correlations to gold include Agnico-Eagle Mines (AEM), Primero Mining (PPP), Silver Wheaton (SLW), and Franco-Nevada (FNV).

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 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, […]

The trailing 30-day returns of most mining companies are positive due to precious metals’ diminishing safe-haven appeal.

Precious metal prices have been falling since Trump won the US Presidential election on November 8, 2016. Mining stocks quickly followed suit.

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).

Mining companies that have high correlations with gold include Agnico Eagle Mines (AEM), Alacer Gold (ASR), Alamos Gold (AGI), and AngloGold Ashanti (AU).

Mining companies that have high correlations to gold include Royal Gold (RGLD), Goldcorp (GG), New Gold (NGD), and Newmont Mining (NEM).

The substantial returns of most mining companies have been due to safe-haven bids that boosted gold and other precious metals.

Precious metals were doing well at the beginning of 2016.

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.

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.

Precious metal prices have been falling since Donald Trump won the US presidential election. As a result, mining stocks have also been falling.

IAMGOLD’s (IAG) Westwood project is located in southwest Quebec, Canada. This site started production in 1Q13.

In July 2016, JPMorgan Chase (JPM) turned positive on South African gold miners. It upgraded Harmony Gold Mining (HMY) from “neutral” to “overweight.”

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.

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.

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.

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.

IAMGOLD’s (IAG) Westwood project is located in southwest Quebec, Canada. This site started production in the first quarter of 2013.

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.

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.

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.

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.

Recently J.P. Morgan (JPM) upgraded Harmony Gold (HMY). It upgraded HMY from “neutral” to “overweight.”

Gold futures for August expiration rose 0.83% to close at $1,272.70 per ounce on Thursday, June 9, 2016.