Breaking News
0

When Will Gold Finally Rally Again? (GLD)

By ETF Daily NewsCommoditiesJun 13, 2018 07:05AM ET
www.investing.com/analysis/when-will-gold-finally-rally-again-gld-200324483
When Will Gold Finally Rally Again? (GLD)
By ETF Daily News   |  Jun 13, 2018 07:05AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

From Collin Kettell: In this interview, precious metals expert Eric Sprott agrees that the average gold investor likely feels rather depressed.

However, behind the scenes, there is a lot of activity. Kirkland was up 150% last year, and Novo has good performance. He feels we are still in the beginnings of a bull market for several reasons. Real economic recovery is lacking as low-interest rates and money printing continues. The second half of 2018 should be better than the first.

Commodity prices are looking good across many assets like copper, lead, and zinc. Many exciting things are going on in the commodity space. Lithium, nickel, and vanadium are all also doing quite well.

Much of the speculative investment in cryptocurrencies has now moved away from that sector. A decline in the economy and stock market could happen soon. Those two things will be critical to watch as a drop should get people thinking about gold and silver.

Eric likes the recent bulk sample results from Novo Resources. Marindi Metals have found fine gold and recently nuggets. Marindi feels that the basin-wide theory is correct and that could mean a 250km by 250km with the potential for multiples of tens of millions of ounces.

Kirkland is doing very well regarding earnings and their stock still seems cheap compared to other companies. He discusses the mines and production details that they are working on.

It takes work to find the opportunities, and you have to be on the hunt for them. Your fortunes can change quickly in the natural resource sector. When things turn good, the stock prices often change fast. If you don’t have time to look, you need to invest with someone that can do that for you.

The SPDR Gold Shares (NYSE:GLD) fell $0.17 (-0.14%) in premarket trading Wednesday. Year-to-date, GLD has declined -0.67%, versus a 4.94% rise in the benchmark S&P 500 index during the same period.

GLD currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 33 ETFs in the Precious Metals ETFs category.

When Will Gold Finally Rally Again? (GLD)
 
When Will Gold Finally Rally Again? (GLD)

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
Brad Smith
Brad Smith Jun 13, 2018 10:25PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This whole fund is very sketchy as it claims to be fully backed by physical gold bullion but yet it refuses to give retail investors the right to redeem for any of these ‘claimed’ gold bullion. This fact alone means GLD shares are nothing more than paper at the end of the day. GLD’s prospectus is chalk full of weasel clauses and legal loopholes that allows the fund to get away without the full physical gold backing. One good example of this is the clause that states GLD has no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this audit loophole. Also, there was a well documented visit by CNBC's Bob Pisani to GLD's gold vault. This visit was organized by GLD's management to prove the existence of GLD's gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this "GLD" bar was actually owned by ETF Securities.
Reply
0 0
rajeev thakur
rajeev thakur Jun 13, 2018 10:25PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Hi But short term view it would be nice down traind started .and bleow sutabal@1247
Reply
0 0
Brad Smith
Brad Smith Jun 13, 2018 10:22PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
"GLD currently has an ETF Daily News SMART Grade of A (Strong Buy)"..I frequently see this recommendation from "ETF Daily News" so I assume you are very familiar with this fund. I've been trying to do my due diligence into GLD but have been unable to obtain any details into the state of its insurance. Would you happen to know any specifics here? The following mirrors my experience: "Did anyone try calling the GLD number for general inquiries at (866) 320 4053 in search of numerical details on GLD's insurance? The prospectus vaguely states "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." When I asked about how much of the gold was insured, the representative proceeded to act as if he didn't know and said they were just the "marketing agent" for GLD. What kind of marketing agent would not know such basic information about a product they are marketing?"
Reply
0 0
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email