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Gold ETF Impact
Wed, Feb 4 2009, 11:45 GMT
by The Trader's Journal Collaborators
This article is taken from the Trader's Journal magazine (December 2008 issue)
The author, Adam Hamilton, writes for an acclaimed monthly newsletter, Zeal Intelligence, that details exactly what they are doing in terms of actual stock and options trading based on the lessons they have learned in their market research.
- Adam Hamilton discusses the smashing success of the SPDR Gold Shares (GLD) exchange traded fund. In its four-year existence, GLD has altered the dynamics of the way gold is traded
In the midst of our seemingly endless slog through the dark sentiment wastelands plaguing the markets, we have a birthday to celebrate. Four years ago this week, a revolutionary exchange traded fund (ETF) was launched that forever changed trading dynamics within the global gold market. Known today as the SPDR Gold Shares, GLD has been wildly successful by any measure.
GLD’s rise to fame has not been easy. While a few contrarians loved the idea of a gold exchange traded fund to broaden investor participation in this gold bull, many investors were very skeptical. Some were downright hostile. Although rehashing the obstacles GLD has faced is beyond the scope of this essay, I wrote about a gold ETF in 2002, before GLD hit the market. I also wrote about GLD itself in early 2006, late 2006, and late 2007. These past essays can still fill you in on GLD’s history and dispel many myths surrounding it.
GLD has gone on to become not only a juggernaut in the gold world, but in the entire ETF world as well. This week, GLD was the 3rd largest ETF on the planet with $18 billion worth of net assets (physical gold bullion in its vaults)! Only the SPY S&P 500 ETF and the EFA large-cap foreign stocks ETF were larger. GLD is bigger than the famous QQQQ NASDAQ 100 ETF, the DIA Dow 30 ETF, the XLF S&P 500 financial stocks ETF and the XLE S&P 500 energy stocks ETF. GLD is huge!
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Other article in this issue:
Published on Wed, Feb 4 2009, 12:03 GMT
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Legal disclaimer and risk disclosure
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the authors and the publisher are not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. In commodity trading, as in stock, and mutual fund trading, there can be no assurance of profit. Losses can and do occur. As with any investment, you should carefully consider your suitability to trade and your ability to bear the financial risk of losing your entire investment. It should not be assured that the methods, techniques, or indicators presented in this magazine will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples in this magazine are for educational purposes only. This is not a solicitation for any order to buy and sell. The information contained herein has been obtained from sources believed to be reliable, but cannot be guaranteed as to accuracy of completeness, and is subject to change without notice. The risk of using any trading method rests with the user.Related reports
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Being Honest With Yourself by The Trader's Journal
Mon, Nov 23 2009, 15:43 GMT
Trading Broadening Top/Bottom Patterns by The Trader's Journal
Mon, Nov 23 2009, 15:28 GMT
Forex Technical Report - Gold Surges as Dollar is Unable to Follow-Through to Upside by ForexHound.com
Mon, Nov 23 2009, 14:45 GMT
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