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The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.


Seeking Alpha

Monday, July 27, 2015

Gold Crushed – It Ain’t Pretty & it Will Get Worse

By “gold crush” I do not refer to an immature infatuation with the shiny metal but rather the beating gold investors took last week. Gold has actually been getting crushed for several months now since stabilizing from a prior price down. We can expect more of the same for as long as the same catalyst remains in the driver’s seat. Long-term gold holders with stakes in gold for diversification purposes or for other reasons, and who can bear near-term bloodshed, should again see better days within their long holding period. However, those investors interested in near-term capital preservation or appreciation should probably look elsewhere. See our report on gold here.

Precious Metal Relative
Last Wk
Last 3 Mos.
TTM
SPDR Gold Trust (NYSE: GLD)
-2.5%
-6.0%
-13.9%
iShares Gold Trust (NYSE: IAU)
-2.6%
-5.9%
-13.8%
ETFS Physical Swiss Gold Trust (NYSE: SGOL)
-2.5%
-6.0%
-14.5%
iShares Silver Trust (NYSE: SLV)
-4.4%
-8.6%
-29.9%
ETFS Physical Silver Trust (NYSE: SIVR)
-4.6%
-8.4%
-28.7%
Market Vectors Gold Miners (NYSE: GDX)
-7.9%
-21.8%
-42.5%
Market Vectors Junior Gold Miners (NYSE: GDXJ)
-5.3%
-14.3%
-52.2%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)
-23%
-55.2%
-89.1%
Goldcorp (NYSE: GG)
-10.4%*
-24.8%
-44.4%
Randgold Resources (Nasdaq: GOLD)
-3.6%
-17.1%
-28.6%
Barrick Gold (NYSE: ABX)
-13.1%
-30.5%
-52.8%
Silver Wheaton (NYSE: SLW)
-9.5%
-29.5%
-48.1%
Coeur Mining (NYSE: CDE)
-8.2%
-22.3%
-48.8%
Silvercorp Metals (NYSE: SVM)
-9.6%
-28.8%
-56.2%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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