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The SPDR Gold ETF (NYSE:GLD) Adds Another Six Tons To Holdings

April 30th, 2010

“Gold prices Friday hit a new high for 2010 as investors bought gold as a safety net against ballooning European debt. Gold for June delivery was adding $7.80 to $1,176.60 an ounce at the Comex division of the New York Mercantile Exchange. The gold price Friday has traded as high as $1,178.50 and as low as $1,167.80. The U.S. dollar index was slipping 0.33% to $81.73 while the euro rebounded 0.85% against the dollar. The spot price today was up over $9, according to Kitco’s gold index,” Alix Steel Reports From The Street.

Steel goes on to report, “The bulls are hoping gold prices will break $1,200 soon as investors buy the precious metal as a hedge against global currency devaluation. The popular gold ETF, SPDR Gold Shares (NYSE:GLD) added another six tons on Thursday, bringing total tonnage to a record 1,159. The (GLD) is a popular way to invest in gold because it gives investors exposure to spot gold prices without having to own futures contracts or the physical metal. The gold ETF continued its recent rally Friday up 0.84% to $115.24, but shares still have yet to break its 52-week high of $119.54.”

“Although a resolution to the Greece debt crisis will most likely be announced before the end of the weekend, investors are panicked over rising debt levels worldwide. In order for the European Union, dominated by Germany, to release money to Greece, the country had to slash its budget deficits by 10%-11% of GDP over the next few years to save the country 24 billion euros. Details include an increased retirement age, wage freezes, bonus cuts and sales tax increase,” Steel Reports.

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Investors have turned to gold ETFs as a safe haven during the recent stock market turmoil.  They offer a great way to protect you against risk in your portfolio during uncertain times. We have put together some other ETF options for your viewing below:             

LONG:             

The investment SPDR Gold ETF (NYSE: GLD) seeks to replicate the performance, net of expenses, of the price of gold bullion. The trust holds gold, and is expected to issue baskets in exchange for deposits of gold, and to distribute gold in connection with redemption of baskets. The gold held by the trust will only be sold on an as-needed basis to pay trust expenses, in the event the trust terminates and liquidates its assets, or as otherwise required by law or regulation.             

The investment ETF (NYSE: GDX) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the AMEX Gold Miners index. The fund generally normally invests at least 80% of its total assets in common stocks and American depositary receipts (ADRs) of companies involved in the gold mining industry. The fund is nondiversified.             

The Funds ETF (NYSE: GDXJ) investment objective is to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Junior Gold Miners Index (the “Junior Gold Miners Index”). For a further description of the Junior Gold Miners Index, see “Junior Gold Miners Index.”             

The objective of ETF (NYSE: SGOL) the newly listed shares is to reflect the performance of the price of Gold bullion, less the Trust’s operating expenses. The Trust is open ended and is designed for investors who want a cost-effective(1) and convenient(2) way to invest in Gold as well as diversify their Gold holdings.             

The investment ETF (NYSE: UGL) will seek to replicate, net of expenses, twice the performance of gold bullion as measured by the U.S. Dollar p.m. fixing price for delivery in London. The fund normally invests assets in financial instruments with economic characteristics twice the return of the index. It may employ leveraged investment techniques in seeking its investment objective.             

The investment ETF (NYSE: DGL) seeks to track the price and yield performance, before fees and expenses, of the Deutsche Bank Liquid Commodity Index – Optimum Yield Gold Excess Return. The index is a rules-based index composed of futures contracts on gold and is intended to reflect the performance of gold.             

The investment ETF (NYSE: DGP) seeks to replicate, net of expenses, twice the daily performance of the Deutsche Bank Liquid Commodity index – Optimum Yield Gold Excess Return. The index is intended to reflect changes in the market value of certain gold futures contracts and is comprised of a single unfunded gold futures contract.             

The objective ETF (NYSE: IAU) of the trust is for the value of its shares to reflect, at any given time, the price of gold owned by the trust at that time, less the trust’s expenses and liabilities. The trust is not actively managed. It receives gold deposited with it in exchange for the creation of baskets of iShares, sells gold as necessary to cover the trust’s liabilities, and delivers gold in exchange for baskets of iShares surrendered to it for redemption. The trust is not an investment company registered under the Investment Company Act of 1940 or a commodity pool for purposes of the Commodity Exchange Act.             

SHORT:             

The investment ETF (NYSE: DZZ) seeks to replicate, net of expenses, twice the inverse of the daily performance of the Deutsche Bank Liquid Commodity index – Optimum Yield Gold Excess Return. The index is intended to reflect changes in the market value of certain gold futures contracts and is comprised of a single unfunded gold futures contract.             

The investment ETF (NYSE: GLL) will seek to replicate, net of expenses, twice the inverse daily performance of gold bullion as measured by the U.S. Dollar p.m. fixing price for delivery in London. The fund normally invests assets in financial instruments with economic characteristics inverse to the index. It may employ leveraged investment techniques in seeking its investment objective.


NYSE:GLD


 

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