| GLD Witnessed an Inflow: What Does It Mean for Investors? | |
| | |
|
Ray of Hope for Investors? Gold Rose and GLD Witnessed an Inflow (Continued from Prior Part) GLD’s holdings rise
The recent turbulence in the markets pulled gold and silver higher. The increase in the price of these precious commodities halted bearish investor sentiment. Investors started to pour money into these bullion-based funds. Gold and silver-based ETFs including the SPDR Gold Shares (GLD) and the iShares Silver Trust (SLV) rose by 1.8% and 0.23%, respectively, on a five-day trailing basis. The rise in the price of gold witnessed an increase in the inflow of funding in the SPDR Gold Shares (GLD) for three consecutive days in January. It looks like the new year has brought a ray of hope for investors in these funds. GLD’s holdings rose by 0.69% on January 8, 2016.
Miners’ performance
Besides studying the ETF’s performance, it’s also important to understand how mining stocks performed at the beginning of the year. The rise in precious metal prices increased the prices of most mining-based stocks. It gave them a break after the carnage in 2015. However, when gold and silver flattened, mining companies were in the red zone again.
Companies like First Majestic Silver (AG), New Gold (NGD), and Yamana Gold (AUY) fell by 7.9%, 7.1%, and 6.5%, respectively, on January 11, 2016. These three companies account for 7% of the price fluctuations in the Market Vectors Gold Miners ETF (GDX). GDX fell by 4.1% on January 11.
Browse this series on Market Realist:
|
|
|
New Gold Inc.
|
|
PRODUCER |
CODE : NGD |
ISIN : CA6445351068 |
CUSIP : 644535106 |
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
New Gold is a gold producing company based in Canada. New Gold produces gold, copper, lead, silver and zinc in Australia and in Mexico, develops copper, gold and silver in Brazil, in Canada and in Chile, and holds various exploration projects in Canada. Its main assets in production are PEAK MINES in Australia and CERRO SAN PEDRO, MESQUITE and CERRO SAN PEDRO in Mexico, its main assets in development are AMAPARI in Brazil, NEW AFTON in Canada and EL MORRO in Chile and its main exploration properties are AJAX - PYTHON, BUCK CLAIMS, 3TS, SIZZLER, CC PROPERTY, VO PROPERTY, TAK PROPERTY, MOUSE MOUNTAIN, G-SOUTH, CHUBBY BEAR, LIBERTY BELL, BOULEVARD, BOUVETTE, WIT YUKON, RAM, SLATE FALLS, PROSPECTOR MOUNTAIN, MAYO, DAVIDSON, BLACKWATER, BOULDER CREEK, CAPOOSE, NATIONAL, CORRAL CANYON and RUDE CREEK in Canada and RIO FIGUEROA in Chile. New Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is US$ 1.3 billions as of today (€ 1.2 billions). Its stock quote reached its highest recent level on January 07, 2011 at US$ 9.99, and its lowest recent point on March 20, 2020 at US$ 0.39. New Gold has 575 460 032 shares outstanding. |