US Gold Fund Bleeds Physical Holdings
Global fears of another deflationary wave stemming from Dubai and Greece debt issues have sent investors fleeing from gold ETFs. The most popular fund, SPDR Gold Shares (GLD: Quote, Profile, Advanced Chart, News), shed 13.72 tons in just one day of trading this week. The recent dip in gold prices from $1200 to $1120 per [...]
Gold ETFs’ Assets Overrun Swiss Banks’ Holding Capacities
No one can argue that gold ETFs have been one of the largest benefactors of the recession. With investors becoming more cautious about their wealth and diversifying into hard assets, Swiss banks are finding it difficult to store all the newly purchased gold. Exchange-traded funds typically hire a custodian firm to securely store investor’s assets. [...]
ETF Securities Mines American Profits with New Gold ETF
ETF Securities, one of the largest ETF issuers in London, will soon open another ETF in the United States. After filing for a platinum-based ETF, the firm has recently amended its SEC filing on a gold fund to include new details for a future ETF. Just last week, ETF Securities filed with the SEC to [...]
Dissecting the Three Hottest ETF Sectors
Inflow and outflow data for the biggest exchange-traded funds offer investors an insider’s look into where other investors are putting their money. CNBC’s Bob Pisani breaks down where investors are betting their money: China, anti-inflation and financial stocks. As reported by CNBC, gold is the most popular exchange-traded investment. In the first quarter alone, gold [...]
GLD Sixth Largest Holder of Gold in the World
Investor interest in the metal has skyrocketed, with the second largest US based ETF, SPDR Gold Trust (GLD: Quote, Profile, Advanced Chart, News), showing growth in assets of 33% in 2009 alone on modest gains of $50 or 5.2% per ounce. GLD is now the sixth-largest holder of gold in the world after displacing the [...]
Gold ETFs Shimmer on Growing International Demand
Swiss safe-haven inflows into money market and gold ETFs sent gold and other precious metals higher this week. Swiss based hedge funds have deposited record amounts of cash into money markets and precious metal ETFs to store wealth, as the world’s stock markets provide little reason to invest. According to Reuters, the fund with the [...]
ETF Gold Holdings Continue to Climb World Rankings
The gold holdings in U.S. ETFs have managed to reach new highs with global economic fears fueling demand for the precious metal. Physical gold held by ETFs in the U.S. has reached a record 1,190 tons during 2008, according to World Gold Council data in a MarketWatch article. The largest piece of that is held [...]
Access to Russian Currency Now Afforded by New Rydex ETF
Rydex has expanded its collection of eight CurrencyShares ETFs with the launch of a new product to track Russian currency. According to the Market Wire press release, CurrencyShares Russian Ruble Trust (XRU: Quote, Profile, Advanced Chart, News) provides the first currency exposure to the Russian economy and has just begun trading 1,000 Rubles per share [...]
U.S. Dollar Shows Signs of Life in August
The U.S. dollar had been consistently dropping in value this year until a reversal took place in August. The publisher of PowerShares Momentum Tracker, Don Dion, discusses the dollar’s recuperation in the Newswire article, saying, “After suffering a long-term slump, the dollar rose more than 8% this past month in relation to the euro.” The [...]
KBW Restructuring its ETF Indices in Insurance and Mortgage Finance
Keefe, Bruyette, and Woods, Inc (KBW) concentrates on the Financial sector and represents ETF indices in Banking, Regional Banking, Capital Markets, Insurance, and Mortgage Finance. KBW has disclosed additional upcoming changes to its Insurance (KIX – ETF symbol KIE) and Mortgage Finance (MFX) indices. The Business Wire press release reports that ACE Ltd. (ACE), a [...]
