Ken Morrison, editor of the online newsletter, Morrison on the Markets, pointed out that the rally has come with a steady level of open interest in futures and no change in the net ownership of the SPDR Gold exchange-traded fund (GLD) since Dec. 22.
FORBES: Gold Prices Expected To Fall Next Week -- Survey Participants
Reports overnight said major investors George Soros and John Paulson have significantly increased their holdings in the largest gold-backed exchange traded fund, SPDR Gold Trust.
FORBES: Gold Ends Firmer as Choppy, Sideways Trade and Summertime Doldrums Continue
The Market Vectors Gold Miners exchange-traded fund rose 4.8% over the same period and the SPDR Gold Trust ETF ticked up 1.9%.
The popularly traded SPDR Gold ( GLD) exchange traded fund is down 4.7% year to date, and down 10.4% over the last 12 months.
If the Academy wants to hedge its costs, it could throw a few bucks in a gold investment, like an exchange-traded gold fund.
Paulson also maintained his bet on gold, through a 31.5 million share stake in the SPDR Gold Trust exchange-traded fund.
FORBES: John Paulson Cuts BofA, Citi Stakes, Adds To Capital One And Wells Fargo, Stands Pat On Gold
On Monday, the SPDR Gold (GLD) exchange traded fund, the most popular way to trade gold, fell by more than 8% in the morning trading session.
The SPDR Gold Trust exchange-traded fund fell 1.7%.
FORBES: Stocks Fall After Buffett Makes $5B Bet On BofA, Steve Jobs Steps Down At Apple
At mid-morning the gold and silver markets dropped sharply and rapidly on some fresh technical selling pressure, talk that a large exchange traded gold fund liquidated a large position, and as the U.S. dollar index hit its daily high.
The SPDR Gold (GLD) exchange traded fund is up 12.8% year-to-date ending July 18.
The CurrencyShares Swiss Franc Trust (FXF) is up 15.6% year-to-date ending July 25, outperforming the SPDR Gold (GLD) exchange traded fund.
Even search engine behemoth Baidu (BIDU) has come close to doing as well as the SPDR Gold (GLD) exchange traded fund.
FORBES: Despite Sell-Off, China Internet Stocks Still Beat Gold
The SPDR Gold Trust ( GLD) exchange traded fund declined 1.2 percent on Thursday and is down 6.5 percent over the last three months.
Coming back to the present, two of the most revered money managers in the world, billionaires George Soros and John Paulson, hold huge positions in gold, via the SPDR Gold Shares (GLD) exchange traded fund (ETF).
FORBES: How Many Olympic-Sized Swimming Pools Can We Fill With Billionaire Gold?
Commodity Futures Trading Commission data show speculators hold some of the smallest net-long positions in gold in several years and exchange-traded fund data showed some investors are selling.
FORBES: METALS OUTLOOK: Uncertain Outlook For Gold Next Week
Mark Leibovit, chief market strategist at VR Gold Trader.com, pointed out that a precious metal exchange-traded fund that he watches, ETFs Physical Swiss Gold shares (SGOL), put in a key reversal.
FORBES: FOCUS: Gold Nearing Important Technical Chart Support Levels
One idea is to buy an intangible that tracks gold--such as an exchange-traded fund.
George Soros and Eric Mindich cut their holdings in the SPDR Gold Trust (GLD), an exchange-traded fund, in the second quarter as prices rallied.
The recent underperformance of gold has also been exaggerated by a drop in the price of GLD, the popular exchange traded fund (ETF) originally created by Wall Street to mirror the price of gold.
The second reason is the timely listing of the first physically gold backed exchanged traded fund, the SPDR Gold Trust with the symbol GLD on the New York Stock Exchange.
So it embarked on creating an exchange traded fund (ETF), which became the SPDR Gold Shares (NYSE:GLD).
An exchange-traded fund exists for mining stocks, too: Market Vectors Gold Miners.
应用推荐