Fed Gangs Up on Gold

After the Federal Open Market Committee (FOMC) Monetary Policy Meeting this March, the Fed members were once again freed to speak their minds. They set off on their speaking engagements starting last week, and many of them spoke of a need for interest rate hikes sooner rather than later. It all sort of felt like the Fed gang was ganging up on gold, because faster Fed rate hikes likely support dollar strength and gold weakness. See more on this report about how the Fed Gang Gangs Up on Gold.

Precious Metal Securities	March 16 to March 28
SPDR S&P 500 (NYSE: SPY)	+0.5%
SPDR Gold Trust (NYSE: GLD)	-3.3%
iShares Gold Trust (NYSE: IAU)	-3.1%
iShares Silver Trust (NYSE: SLV)	-2.8%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	-21%
Direxion Daily Gold Miners Bearish 3X (NYSE: DUST)	+19%
Market Vectors Gold Miners (NYSE: GDX)	-6.9%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	-5.9%
Goldcorp (NYSE: GG)	-7.4%
Newmont Mining (NYSE: NEM)	-6.7%
Randgold Resources (Nasdaq: GOLD)	-2.2%*
Barrick Resources (NYSE: ABX)	-10.3%
Yamana Gold (NYSE: AUY)	-9.1%
Gold Fields Ltd. (NYSE: GFI)	-14.3%
Silver Wheaton (NYSE: SLW)	-3.2%
Coeur Mining (NYSE: CDE)	+2.6%

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. Article should interest investors in precious metals stocks: Goldcorp (NYSE: GG), Agnico-Eagle Mines (NYSE: AEM), Allied Nevada Gold (AMEX: ANV), AngloGold Ashanti (NYSE: AU), AuRico Gold (NYSE: AUQ), Aurizon Mines (AMEX: AZK), Barrick Gold (NYSE: ABX), Brigus Gold (AMEX: BRD), Charles & Covard (Nasdaq: CTHR), Claude Resources (AMEX: CGR), Commerce Group (OTC: CGCO.PK), Compania Mina Buenaventura S.A. (NYSE: BVN), DRDGOLD (Nasdaq: DROOY), Eldorado Gold (NYSE: EGO), Entrée Gold (AMEX: EGI), Exeter Resource (AMEX: XRA), Gold Fields (NYSE: GFI), Gold Reserve (AMEX: GRZ), Gold Resource (Nasdaq: GORO), Golden Eagle Int’l (OTC: MYNG.PK), Golden Star Resources (AMEX: GSS), Great Basin Gold (AMEX: GBG), Harmony Gold (NYSE: HMY), IAMGOLD (NYSE: IAG), International Tower Hill Mines (AMEX: THM), Jaguar Mining (NYSE: JAG), Keegan Resources (AMEX: KGN), Kimber Resources (AMEX: KBX), Kingold Jewelry (Nasdaq: KGJI), Kinross Gold (NYSE: KGC), Midway Gold (AMEX: MDW), Minco Gold (AMEX: MGH), Nevsun Resources (AMEX: NSU), New Jersey Mining (OTC: NJMC.PK), Newmont Mining (NYSE: NEM), North Bay Resources (OTC: NBRI.OB), Northgate Minerals (AMEX: NXG), NovaGold Resources (AMEX: NG), Richmont Mines (AMEX: RIC), Royal Gold (Nasdaq: RGLD), Rubicon Minerals (AMEX: RBY), Seabridge Gold (AMEX: SA), Solitario Exploration and Royalty (AMEX: XPL), Tanzanian Royalty Exploration (AMEX: TRE), Thunder Mountain Gold (OTC: THMG.OB), U.S. Gold (NYSE: UXG), Vista Gold (AMEX: VGZ), Wits Basin Precious Metals (OTC: WITM.PK), Yamana Gold (NYSE: AUY), Coeur d’Alene Mines (NYSE: CDE), Endeavour Silver (NYSE: EXK), Hecla Mining (NYSE: HL), Mag Silver (AMEX: MVG), Mines Management (AMEX: MGN), Silver Standard Resources (Nasdaq: SSRI), Silver Wheaton (NYSE: SLW), SPDR Gold Trust (NYSEArca: GLD), Market Vectors Gold Miners ETF (NYSEArca: GDX), iShares Silver Trust (NYSEArca: SLV), ProShares Ultra Silver (NYSEArca: AGQ), ProShares Ultra Short Silver (NYSEArca: ZSL), Great Panther Silver (AMEX: GPL), Silvercorp Metals (NYSE: SVM), Paramount Gold and Silver (AMEX: PZG), Pan American Silver (Nasdaq: PAAS) and First Majestic Silver (NYSE: AG).