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Exchange Trader Funds (ETF) Analysis
Silver Rush Print E-mail
Exchange Traded Funds | Reviews | Written by Oil N' Gold | Tue Dec 21 10 03:20 ET
Investments in precious metal ETFs remained robust last week as global economic uncertainties persisted. Sovereign concerns in the European periphery showed no signs of diminishing and contagion appeared accelerating. Moody's last week downgraded Ireland's credit rating by 5 notches and warned that further reduction is possible.
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PGM ETFs Outperform Despite Price Correction Print E-mail
Exchange Traded Funds | Reviews | Written by Oil N' Gold | Wed Dec 15 10 02:06 ET
Strength in US dollar and rise in Treasury yields pressured precious metals. Gold initially surged to a new record high of 1432.5 while silver jumped to a 30-year high earlier last week as Obama agreed to extend Bush-era’s rate cuts for 2 years. However, profit-taking as well as higher bond yields triggered selloff. In the longer term, there are favorable factors supporting gold’s rally.
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Gold Investments Strengthen as Fed may Accelerate QE Measures Print E-mail
Exchange Traded Funds | Reviews | Written by Oil N' Gold | Tue Dec 07 10 04:49 ET
Investment demands for precious metals remained strong last week although sovereign concerns in peripheral European economies eased modestly after the ECB meeting. The central bank's extension of full allotment of 3-month tenders signaled a delay in exiting non-standard measures. Market sentiment remained firm as disappointing US employment data fueled speculations over further QE from the Fed. The more money the Fed prints, the more downside US dollar has. Weakness in USD is usually gold-bullish.
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IShares Gold ETF Surged to Record High Print E-mail
Exchange Traded Funds | Reviews | Written by Oil N' Gold | Wed Dec 01 10 05:26 ET
Financial markets were affected by macroeconomic developments and geopolitical tensions last week. Sovereign crisis in peripheral European economies continued to weigh on the euro and triggered widening in yield spreads between peripheral bonds and German bunds. Risks of contagion spread to Portugal, Spain and Italy although financial ministers approved an 85B euro bailout package for Ireland. Tensions between North and South Korea intensified after South Korean military reported that North and South Korea exchanged military fire last Tuesday. Surprisingly, physical holdings in precious metal ETFs did not spike last week and with the exception of palladium ETF, total holdings in gold, silver and platinum ETFs fell over the reporting week. In our opinion, this was driven by liquidations'of previous purchases, rather than lack of market interests in these ETFS.
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ETF Investments for PGMs Exceed Last Year Print E-mail
Exchange Traded Funds | Reviews | Written by Oil N' Gold | Tue Nov 23 10 04:51 ET
Investment in ETFs climbed +40.89K oz, or +0.06%, to 66.04M oz in the week ended November 19. During the week, spot gold prices plunged -0.12% while benchmark gold futures slipped -0.97%. ZKB Gold ETF, representing around 9% of total holdings, gained +21.57K oz to 5.93M oz. the fund's gold holdings rose +1.25M oz since the beginning of the year. iShares Comex Gold Trust, New Gold and ETFS Physical Swiss Gold Shares also recorded gains during the week. SPDR Gold Trust, which represents 63% of global ETF holdings, posted a net decline of -48.83K oz last week, taking the year-to-date investment to 5.01M oz and the combined holdings to 41.45M oz.
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Redemption seen in Gold and Palladium ETFs Print E-mail
Exchange Traded Funds | Reviews | Written by Oil N' Gold | Wed Nov 10 10 02:34 ET
Investments in precious metal ETFs were mixed last week. While Fed's announcement of $600B purchases of US Treasury Securities triggered a new round of USD selloff and sent precious metals higher, liquidations were seen in some investments instruments as recent rallies have pushed prices to elevated levels.
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Aggressive Buying Moderated amid Risks of Disappointing QE2 Print E-mail
Exchange Traded Funds | Reviews | Written by Oil N' Gold | Wed Nov 03 10 01:01 ET
The market switched to cautious mode last week ahead of the FOMC meeting. Risk appetite diminished as investors concerned Fed's QE measures may be smaller than previously expected. In the week ended October 29, holdings in gold and silver ETFs dropped as investors took profits from previous long positions. Meanwhile, moderations in inflows were seen in both platinum and palladium ETFs. While precious metal prices may drop, we expect any correction will be short-lived. As the dollar is doomed to be pressured in the long-term, gold and other precious metal's uptrend should remain intact.
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Long Liquidations Seen in Precious Metals Last Week Print E-mail
Exchange Traded Funds | Reviews | Written by Oil N' Gold | Tue Oct 26 10 05:50 ET
Investors took profits from recent long positions as USD rebounded last week. While net inflows remained positive for silver and platinum ETFs, net outflows were recorded in gold and platinum ETFs. While prices of gold and other precious metals may correct after the rally, downsides would be limited as long as positive catalysts – Fed's return to QE, global economic imbalance and sovereign concerns in peripheral European economies- stay in the market.
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Strong Capital Inflows to Precious Metals as Currency Tensions Intensify, Fed's QE Imminent Print E-mail
Exchange Traded Funds | Reviews | Written by Oil N' Gold | Wed Oct 20 10 03:24 ET
Investment in precious metal ETFs remained strong last week and demand for PGMs outperformed that for gold and silver, probably as a catch-up. Several factors on the economic battlefield continued to be supportive for precious metals: Fed's return to QE, the tendency of advanced economies to keep interest rates, currency tensions between advanced and emerging countries and, to a lesser extent, sovereign crisis in peripheral European economies.
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QE Prospects Positive to Precious Metal Investments Print E-mail
Exchange Traded Funds | Reviews | Written by Oil N' Gold | Wed Oct 13 10 04:04 ET
BOJ's decision to lower the overnight call rate to 0-0.1% and to expand asset buying heightened speculations the Fed will announce more QE measures later this year. Weaker-than-expected payrolls data provided further evidence on sluggishness in the US economy and gave policymakers more supports for additional easing. While the dollar might stage a rebound after being dumped so severely, the long-term downtrend remains intact. This is positive for precious metals.
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