President Donald Trump seems to have soothed the precious metals market.
Gold prices capped their steepest weekly loss in 15 years as investors assessed the economic fallout from the escalating U.S.-Iran conflict. For the week, gold tumbled 9.6% — its biggest drop since September 2011 – and is now on track for its worst monthly performance since October 2008, as quoted on CNBC.
I rate the SPDR Gold Shares ETF (GLD) a buy, anticipating a sustained gold rally as central banks delay tightening despite rising inflation. GLD offers convenient, liquid exposure to gold, though its 0.4% fee and inability to redeem for physical gold warrant eventual conversion to bullion. Recent inverse correlation between the price of gold and oil reflects market expectations of rate hikes, but excessive global debt makes aggressive tightening unlikely.
Gold ETFs are lagging despite the Iran war. A stronger dollar, rising Treasury yields, liquidity stress and surging oil prices are keeping bullion and miners under pressure.
Cinctive Capital Management LP increased its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 157.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,795 shares of the exchange traded fund's stock after buying an additional 5,997 shares
BNP Paribas decreased its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 20.1% in the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,380 shares of the exchange traded fund's stock after selling 1,101 shares during the quarter. BNP
Ameriprise Financial Inc. grew its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 3.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,555,831 shares of the exchange traded fund's stock after acquiring an additional 50,756 shares during the quarter. Ameriprise Financial Inc. owned
The SPDR Gold ETF offers investors exposure to the gold market. However, gold prices have been volatile, and even though they've risen lately, they've gone long periods without doing much.
Exchange-traded funds aren't just about stocks. ETFs have also opened up new ways for investors to get exposure to different asset classes.
FreeGulliver LLC lowered its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 18.8% during the undefined quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,701 shares of the exchange traded fund's stock after selling 1,550 shares during the period. SPDR Gold
Glenmede Investment Management LP lifted its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 1.7% in the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,986 shares of the exchange traded fund's stock after purchasing an additional 3,246 shares during the
Brown Brothers Harriman and Co. lifted its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 8.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 43,922 shares of the exchange traded fund's stock after buying an additional 3,293 shares during the quarter. Brown