Gold Continues Break-Out (GLD)
More News related to ABX
- Gold Hit As Dubai Woes Sends Dollar Higher
- Barrick Gold Sets Out Position on Bill C-300 and Provides Facts
- Barrick Gold Sets Out Position on Bill C-300 and Provides Facts
- Central Banks Continue Snapping Up Gold, Sri Lanka Buys 10 Metric Tons From IMF
- Gold Moves Higher on Weak Dollar, Lower Commodities, Indian Reserve Bank Talk (GLD, ABX, GG, NEM, GDX)
More News related to AUY
- Gold Hit As Dubai Woes Sends Dollar Higher
- Central Banks Continue Snapping Up Gold, Sri Lanka Buys 10 Metric Tons From IMF
- Gold Higher On Reports India Could Buy the Rest of the IMF's Hoard (GLD)
- Canaccord Adams Raise Target on Yamana Gold (AUY) to $16.50
- Yamana Gold (AUY) volatility at 55 on $1135 gold
More News related to GDX
- Dubai Fallout ETF Trades
- Gold Hit As Dubai Woes Sends Dollar Higher
- Dubai Debt Woes Roil Markets
- Notable Late-Afternoon ETF Movers for 11/25: UNG, GDX, XRT Higher; UUP Lower
- Sign of the Times: U.S. Mint Has To Temporarily Suspend Sales of One Ounce Gold Coins Due to Demand
Gold is on the move again this morning, breaking to new all-time highs, on continued fears about easy money policies in the U.S. and around the globe. Spot Gold last traded at $1091.50, up from yesterday's close of $1084.30. Monday's close was $1059.60.
Yesterday's big jump was related to the IMF 200 metric tons gold sale to the Reserve Bank of India. The IMF's sale represented almost half of the total sales volume of 403.3 metric tons that was approved by the Executive Board in September. The total sales proceeds are equivalent to US$ 6.7 billion or SDR 4.2 billion.
Many investors have been getting long gold on fears of depreciating world currencies, including the U.S. dollar. Many have been gaining exposure to gold through ETF SPDR Gold Shares (NYSE: GLD) or through the miners as represented by Market Vectors Gold Miners ETF (NYSE: GDX), which seeks to replicate the price and yield performance of the NYSE Arca Gold Miners Index. Top holdings of the index include Barrick Gold (NYSE: ABX), Goldcorp (NYSE: GG), Newmont Mining (NYSE: NEM), Kinross Gold (NYSE: KGC), and Yamana Gold (NYSE: AUY). There is also a new gold ETF - ETFS Physical Swiss Gold Shares (NYSE: SGOL) - that traders are starting to use.
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