Why Gold Soared & What's Next
The market wire was buzzing Wednesday with regard to the moves in oil and gold prices. Each commodity moved sharply and partly for one common reason. With regard to gold, the day’s price move was the largest in a month, since the stock market correction in August. But stocks were higher as well, so then what was the catalyst? Well, inflation was seriously muted in the release of the Consumer Price Index (CPI) for August. If price increase is nonexistent, then the Fed has all the more reason to hold off on a rate hike Thursday. No rate hike means the dollar likely gives up ground, which serves both oil and gold prices. Now, if the Fed does go ahead and acts on interest rates Thursday, then Wednesday’s gain in gold should be immediately erased, but that’s not what I’m looking for. See the full report on gold here.
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.
Precious Metals Securities
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Wednesday 09-16-15
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SPDR Gold Trust (NYSE: GLD)
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+1.3%
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iShares Gold Trust (NYSE: IAU)
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+1.3%
|
ETFS Physical Swiss Gold Trust (NYSE: SGOL)
|
+1.4%
|
iShares Silver Trust (NYSE: SLV)
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+3.3%
|
ETFS Physical Silver Trust (NYSE: SIVR)
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+3.2%
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Market Vectors Gold Miners (NYSE: GDX)
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+5.9%
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Market Vectors Junior Gold Miners (NYSE: GDXJ)
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+5.8%
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Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)
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+16%
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Direxion Daily Gold Miners Bear 3X (NYSE: DUST)
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-17%
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Goldcorp (NYSE: GG)
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+6.1%
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Randgold Resources (Nasdaq: GOLD)
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+5.7%
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Barrick Gold (NYSE: ABX)
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+7.2%
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Silver Wheaton (NYSE: SLW)
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+7.1%
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Coeur Mining (NYSE: CDE)
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-6.3%
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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.
Labels: Gold, Gold-2015-Q3, INDUSTRY-Gold
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