The Buzz

All markets and investing news all the time

Gold regains some luster

May 30, 2013: 11:41 AM ET

Stocks have been on a roller coaster ride over the past couple of weeks. Bond yields are creeping higher. And it looks like that's created the perfect conditions for gold to regain favor with investors.

Gold prices nudged back above $1,400 an ounce for the first time in two weeks Thursday. That may not seem that dramatic, but for an asset that investors had been shunning lately, it may signal more gains lie ahead.

Gold miners were faring well. Shares of Randgold (GOLD) rose more than 4%, Kinross Gold (KGC) rallied 8% and AngloGold Ashanti (AU) gained nearly 7%.

Everyone was jumping on the gold bandwagon Thursday. The Market Vectors Gold ETF (GDX) popped more than 5%, and Direxion Gold Miners (NUGT) jumped 15%.

What a difference a month makes.

Gold prices plunged to a 2-year low April 15 in their biggest one day sell-off in decades. The culprit? Worries about China growth.

Those worries haven't gone away but for now, they seem to have shifted to the back burner as investors watch the market gyrations and look for a place to park off until things settle down.

StockTwits traders were cheering the yellow metal on.

Gold bounce is picking up steam. Watch out for additional upside if $GDX can recapture $30.

$GLD $SLV $GDX This could bring a BIG SMILE to these investors faces after a 40% YTD decline.

That could be an understatement. Just looking at the chart above shows how rough May has been for gold bugs. But I'd keep the champagne on ice for now.

As mentioned yesterday, hot money is now bidding the gold and silver miners. $GDX SIL

That was a good call ivanhoff. Looks like the miners are getting a pretty big boost today. Makes me wonder if this is a trend or if we're in for more choppiness heading into the summer.

Asia $GOLD Demand to Hit Quarterly Record, Absorb ETF Outflow-WGC @reuters World Gold Council Reports $AGOL $GLD

Ahh yes, who could forget the World Gold Council. Any sign of rising demand from Asia would be enough to spark interest. Couple that with the volatility we're seeing in stocks, and you've got a pretty good case for buying.

$GDX $GLD $NUGT $GDXJ $NEM $GG $AU $AUY etc GOLD tellin the mkt to go fly a kite today !! Bullish

  • Investor fear on the rise

    Political gridlock in Italy is unhinging investors.

    Investors worry the results of Italy's election could wind up undermining the progress that Italy has made in overhauling its troubled economy.

    "It was the worst possible outcome, feared by market participants and European policy-makers alike," said Daiwa Capital Markets European economist Tobias Blattner.

    U.S. stocks spiraled downward in a late-day frenzied sell-off Monday. European markets followed their cue and sold off sharply early Tuesday.

    CNNMoney's Fear MORE

    - Feb 26, 2013 10:15 AM ET
  • Chipotle: A spicy stock downgraded to mild

    "There's only so many burritos people can eat," said Raymond James analyst Bryan Elliot.

    Shares of Chipotle Mexican Grill plunged more than 20% Friday after the company reported weaker-than-expected sales growth, even as profits rose in the second quarter.

    Chipotle (CMG) stock fell $92.28, or 23%, to $311.98 a share. Shares of McDonald's (MCD), Wendys (WEN) and Taco Bell-owner Yum brands (YUM) were down between 1% and 2%.

    The sell-off came MORE

    - Jul 20, 2012 12:55 PM ET
  • Facebook: IPO was fairly valued

    Facebook's stock briefly popped when it debuted but it's now down 25% from its IPO price.

    Facebook said its initial public offering was fairly valued, according to a back-and-forth correspondence with regulators ahead of its IPO.

    In documents released by the SEC Friday, Facebook (FB) said the difference between the company's fair value of $30.89 a share on Jan. 31 and the midpoint of its offering wasn't "meaningfully different."

    In 2011, MORE

    - Jun 15, 2012 2:23 PM ET
  • Investors run for cover as fear intensifies

    If you thought last week was bad, it's just gotten a lot worse.

    A series of disappointing manufacturing reports were topped off Friday with dismal jobs numbers that showed a paltry 69,000 jobs were added to the U.S. economy in May.

    Related: Behind the jobs report

    If that's not enough to give you agita, the yield on the 10-year note tumbled to a record low of 1.46% today. It's not MORE

    - Jun 1, 2012 2:35 PM ET
Fear & Greed
Sponsored by

To view my watchlist

Not a member yet?

Sign up now for a free account
Stupid Stock Move of the Day
#StupidStock Move of the Day! Yes, Urban Outfitters may be finally turnings things around. But $URBN up 17%? Seems a bit excessive, no?
Most Popular
Powered by VIP.