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February 8, 2021
Gold futures and ETFs are popping on Monday, after investors are swooping in to buy at perceived bargains following significant losses last week.
Gold futures and ETFs have been trending down since the beginning of the year, and the lustrous metal most recently dipped below the $1800 level to reach $1784.60, before recovering above that level on Friday. The move lower could present an opportunity for gold bulls, who have driven prices over 1.13% higher on Monday to reach $1840.60 an ounce on optimism that a bottom may be in place for the metal.
Yet, while the move has boosted gold ETFs like the
February 4, 2021
Gold prices remain high by the standards of the past several years, prompting miners to boost output this year. That could be an assist for exchange traded funds such as the
SGDM tracks the Solactive Gold Miners Custom Factors Index and “emphasizes gold companies with the highest revenue growth and free cash flow yield, and the lowest long-term debt to equity ratio,” according to the issuer.
“After declining in 2019, global gold production was adversely affected by the covid-19 pandemic during 2020, while the suspension of expansion works and contractions from mines nearing closure also exacerbated the decline. Overall output in 2020 was estimated to have declined by 5.2% to 108 million ounces (moz), according to UK-based analytics company GlobalData,” reports