Re: Nochmal zu Silber und GOLD

verfasst von CRASH_GURU, 09.12.2004, 08:39

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Fall in StreetTRACKS' Stock
Encouraged Gold Slide: Trade

By David Elliott
Dow Jones Newswires
Wednesday, December 8, 2004

LONDON -- The 3.5 percent fall in the price of
spot gold Wednesday may have been encouraged by
the sale of 15 percent of the gold held by the
StreetTRACKS exchange-traded fund, or ETF,
analysts in London said. The total net asset
value of gold in the trust stood at 88.02
metric tons Wednesday against 103.56 tons
Tuesday.

Gold fell to $436.90 a troy ounce at the London
fix Wednesday afternoon against $451.80/oz
Tuesday afternoon.

While most participants agree the market was
primed for a slide -- in light of an overbought
technical picture and a bounce for the dollar --
they also believe the fall in tonnage in the
StreetTRACKS trust was responsible for some
of the selling.

The fall in the StreetTRACKS tonnage highlights
the expectation by holders of the shares that the
share price and price of gold is set to fall,
said an analyst.

"It hasn't helped sentiment," said Kamal Naqvi,
precious metals analyst at Barclays Capital.

StreetTRACKS gold shares were launched Nov.
18 on the New York Stock Exchange to track
the price of gold. Each share represents
one-tenth an ounce of gold.

In the first week of trade to Nov. 26 the trust
built up a total net asset value of just over
100 tons, but since then this remained virtually
unchanged until the decline Tuesday.

Over the same period the share price for the fund
has also remained steady, closing Tuesday at
$45.11 compared with the close on the first day
of trade at $44.38. At 1626 GMT Wednesday the
shares were trading at $43.62.

"Gold was primed for a correction but it seems to
me an interesting correlation that the
StreetTRACKS tonnage fell at the same time,"
said Philip Klapwijk, managing director of GFMS
Ltd.

The StreetTRACKS Web site says the tonnage in the
trust for Wednesday will be updated between 1615
and 1630 EST.

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gesamter Thread:

• Nochmal zu Silber - yatri, 08.12.2004, 22:05
  • Re: Nochmal zu Silber und GOLD - CRASH_GURU, 09.12.2004, 08:39
    • gut zu wissen - danke! (o.Text) - yatri, 09.12.2004, 10:20