|Bid||25.73 x 45900|
|Ask||25.74 x 29200|
|Day's Range||25.26 - 25.77|
|52 Week Range||17.28 - 25.77|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.01|
|Expense Ratio (net)||0.53%|
U.S. and Iranian officials said the latter downed a U.S. military drone near the Strait of Hormuz on Thursday. These sector ETFs and stocks are likely to gain.
Gold is outperforming stocks even when stock markets are making highs. The SPDR Gold Shares (GLD) has gained 8.7% in the last one month, and the VanEck Vectors Gold Miners ETF (GDX) has amplified that return by rising 21.1% in the same period.
Gold futures registered their single largest one-day jump of 2.8% on June 20 following the Fed’s dovish stance at its June meeting. While the Fed kept rates unchanged, it hinted at future rate cuts if the conditions warrant them, which sent gold prices soaring.
The overall investor sentiment has been bearish given the US-China trade tensions and deteriorating economic reports. In addition to bonds (BND), investors are also looking to gold due to its safe-haven appeal. Not only this, there are many other factors that are currently going in gold's favor.
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.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Paul Tudor Jones has told Bloomberg that he expects an aggressive but short period of rate cuts by the Fed, which is set to meet on June 18 and 19.
A Perfect Storm for Gold: All Macro Drivers AlignGold price movementIt has been difficult to predict gold movement this year—economic reports have been more or less mixed and US-China trade deal optimism has curbed gold prices. However, as trade
Why Disappointing US Jobs Report Lit Up a Fire Under Stocks?(Continued from Prior Part)Gold catches a bidGold has caught a bid in the last few days after being lukewarm for most of this year. Weaker US economic reports and escalating trade tensions
Gold has moved higher for the year, after stalling just below the $1,300-an-ounce mark for weeks. “Gold does well in a period of dollar weakness, inflation, and economic uncertainty,” says Peter Schiff, chief global strategist for Euro Pacific Capital, a division of Alliance Global Partners. Gold prices were held back by expectations that the Federal Reserve’s monetary tightening cycle would continue for years, argues Schiff.
Chances of a rate cut by Fed chair Powell went higher. If this happens, the following investing strategies would be of investors' help.
Gold: Analysts Are Bullish despite Weak Performance in 2019(Continued from Prior Part)BMO Capital Markets BMO Capital Markets raised its gold price forecast for 2019 0.8% to $1,293 per ounce in March. The firm is expecting gold prices to average
Gold: Analysts Are Bullish despite Weak Performance in 2019(Continued from Prior Part)Credit Suisse Credit Suisse (CS) is positive about gold prices (IAU) in 2019. The bank expects gold prices to average $1,280 per ounce in 2019 and $1,300 in 2020.
Gold: Analysts Are Bullish despite Weak Performance in 2019(Continued from Prior Part)Goldman Sachs is bullish on gold prices Gold prices (GLD) haven’t been going anywhere for the past few months. However, Goldman Sachs (GS) is still bullish on
Record high U.S. market in April was the result of a strong economy, slew of unicorn IPOs, stabilization in the oil patch, better-than-expected corporate earnings and a dovish Fed.
Gold: Analysts Are Bullish despite Weak Performance in 2019Gold’s price performance Gold prices have fallen 3% YTD (year-to-date) as of April 26. Gold prices fell ~1.9% in 2018 and significantly underperformed broader markets. The S&P 500
Checking In on Gold Miners Ahead of Their Q1 2019 Results(Continued from Prior Part)Higher multiplesThe chart below compares gold miners’ forward EV[1.enterprise value-to-EBITDA multiples and forward EBITDA margins. Agnico Eagle Mines’ (AEM)
Checking In on Gold Miners Ahead of Their Q1 2019 Results(Continued from Prior Part)Analysts’ estimates for FCF Investors are usually interested in gold mining companies’ (GDX) (GDXJ) ability to generate FCF (free cash flow), as it helps them
Checking In on Gold Miners Ahead of Their Q1 2019 Results(Continued from Prior Part)Analysts’ forecasts Analysts’ revenue estimates for gold miners (GDX) are important to track as they give us a good idea about their gold price (GLD) outlook and
AEM Beats Q1 Earnings and Revenue Estimates, Wall Street Bullish(Continued from Prior Part)AEM’s stock outperformanceAgnico Eagle Mines’ (AEM) stock has significantly outperformed its peers year-to-date. Up to April 25, AEM’s stock has risen
AEM Beats Q1 Earnings and Revenue Estimates, Wall Street BullishAgnico Eagle Mines’ Q1 2019 resultsAgnico Eagle Mines (AEM) released its Q1 2019 results yesterday and held the accompanying conference call today. Its earnings per share (EPS) were
Checking In on Gold Miners Ahead of Their Q1 2019 Results(Continued from Prior Part)The fewest “buy” ratingsAmong senior and intermediate miners (JNUG) (GDX), New Gold (NGD), Barrick Gold (GOLD), Eldorado Gold (EGO), and Kinross Gold (KGC) have