We had a few questions yesterday from readers with questions relating to the physical gold price and the price action in the gold miners. There was a bit of confusion as to why the prices were not moving in tandem. The short answer is that in times of war and uncertainty one does not seek to benefit from gold miners' exposure to precious metals but rather the safety offered by precious metals themselves. In instances such as this one is far better served buying physical silver or a name such as the SPDR Gold Shares (GLD) than the miners or any of the miner ETFs, notably the Market Vectors Gold Miners ETF (GDX) and the Direxion Gold Miners Bull 3x (NUGT). It is important to remember that these securities are not always necessarily intertwined and more often than one would believe they 'decouple' during times of duress. Keep this in mind over the next few weeks and so long as the situation in the Middle East remains at the forefront of investors' concerns.
The surge in market worry over Syria yesterday lifted gold in its wake, boosting SPDR Gold Trust (GLD), but miners such as those in Market Vectors Gold Miners ETF (GDX) couldn’t follow. The likely culprit: Sharply higher oil prices. Mining is an energy-intensive business and a swift change in oil is likely to reverberate through traders’ assessment of the sector
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发表于 2013-8-28 07:49 AM
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