|Bid||0.00 x 40700|
|Ask||0.00 x 800|
|Day's Range||28.59 - 29.70|
|52 Week Range||17.28 - 30.00|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.28|
|Expense Ratio (net)||0.53%|
Amid the trade war, weakening economic indicators, and the yield curve inversion, Jeffrey Gundlach believes the Fed has lost control of interest rates.
As widely expected, the Federal Reserve cut interest rates by 25 bps for the first time since the 2008 financial crisis. We have highlighted ETFs & stocks from sectors that are expected to skyrocket on lower rates.
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.
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.
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.
After remaining soft for the first five months of the year, gold prices (GLD) have seen a sudden turnaround since the end of May.
Since lower interest rate expectations, a weakening US dollar, and geopolitical factors pushed gold above its long-term resistance of $1,350 per ounce, technical factors seem to have taken over.
Central banks’ actions affect gold prices, both directly and indirectly. Worldwide, central banks have been making dovish statements regarding the state of the global economy.
Gold futures are trading at their highest levels in over 6 years as interest rates plummet. Gold is up roughly 12% as the US 10-year Treasury yield falls 12% in the past 30 days.