RING News and Press, iShares MSCI Global Gold Miners ETF From 01/26/23

Summary The iShares MSCI Gold Miners Index faces major headwinds in the form of still-elevated valuations, weak long-term growth prospects, and an increasingly precarious gold price outlook. On a trailing basis, the P/E ratio on the MSCI Global Gold Miners index is 22.1x, despite profit...

Summary Gold had gotten hung up on $1800 many times over the last few years. Silver led gold higher and then got trapped around the $24 mark in mid-December. Even though the consolidation in gold and silver lasted more than two years (Aug 2020-Dec 2022), markets always need time to ...

Summary We projected the Q4 (2022) to Q1 (2023) rally in broad markets back in November. Gold stocks are a leader in the global asset market rally, but they are not unique as they are one of many global boats being lifted. When the broad rally falters, it will be the right time for ...

Summary Resource equities exhibited strong relative gains this quarter, outperforming both global equities and bonds during the three-month period. During the quarter, the greatest contributions to absolute performance came from the oil & gas sub-sector - including the top three ind...

Summary After adding to my GDX positions near the September lows, the strong rally seen since then appears overdone, and I am no longer bullish. While rising gold prices and falling oil prices should support profitability, valuations are now expensive on most metrics. The rally in g...

Summary On a short-term basis, gold, silver and mining stocks are looking overbought and in need of the pullback. The divergence between gold and real yields has again become pronounced, suggesting precious metals markets may have gotten ahead of themselves for the time being. Takin...

Summary A strong start to December set the tone for gold to make a series of highs and higher lows over the month. 2022 provided a textbook example of how diverse sources of demand and supply can counterbalance one another and provide gold with its uniquely stable portfolio-additive per...

Summary Gold held on to its November gains, bouncing around the $1,800 per ounce level during December. Higher interest rates create extraordinary systemic risks as monetary conditions continue to normalize. A shift in gold’s investment outlook can be seen in bullion ETF flow...

Summary At the close of 2022, Comex gold prices were down just $2.50. Yes, you read that right. On the year, gold was down $2.50 or about 0.13%. The late 2022 rally that drove gold and silver back into the green on the year is very likely the result of a "market" that did finally learn ...

Summary Momentum was falling as the price continued higher on an intraday basis. Silver enjoyed a near-perfect inverse relationship to the DXY. Silver and Gold have a lot of bullish sentiment to work off but they can do that sideways to down for a while. By David Brady ...