Volume Spike Investor » gold

Gold and gold stocks could see downside (GOLD, HMY, ABX, NEM, GFI, AU, AUY)

247admin — Mon, 06 Jul 2009 12:01:08 +0000

Gold stocks are a sector to watch for downside heading into the open on Monday, with spot prices declining in Asian trading, and crude oil indicating that many commodity-related assets could stumble at the open on a slightly stronger dollar.

As of 8 a.m. Eastern, shares of Randgold Resources Ltd. (Nasdaq: GOLD) are down more than 5 percent near $61 a share, on volume of more than 33,000, helping to lead the group of gold stocks lower.

Other gold stocks to watch include Harmony Gold Mining Co. Ltd. (NYSE: HMY), Barrick Gold Co. (NYSE: ABX), Goldcorp (NYSE: GG), Newmont Mining Corp. (NYSE: NEM), Gold Fields Ltd. (NYSE: GFI), Anglogold Ashanti Ltd. (NYSE: AU) and Yamana Gold Inc (AUY).

Higher input costs for gold miners and unfavorable currency trends are two factors that could weigh on gold stocks in the coming months.

This morning, Deutsche Securities said it expects gold to peak at about $933 an ounce in fiscal 2009 before declining steadily to its long-term estimate of $600. — Mike Tarsala.

Gold stocks remain on close watch ahead of data (DROOY, GOLD, AU, AUY)

247admin — Wed, 01 Jul 2009 12:52:43 +0000

Gold stocks that took a hit in yesterday’s trading following a disappointing consumer confidence number that sent the dollar higher and many commodities lower are rebounding in premarket trade this morning, ahead of expected reports this morning on construction spending and pending home sales that may broadly affect commodities.

Spot gold is rebounding about $4 to $9.32 this morning, gaining back nearly half of what it lost in the previous session.

Gold stocks on the move this morning include smaller player DRDGold Ltd (Nasdaq: DROOY), up about 8 percent on nearly 10,000 shares traded in the premarket at about 9 a.m. Eastern.

Also as of 9 a.m. Eastern, Rangold Resources Ltd. (GOLD) shares are up nearly 3 percent with about 80,000 shares traded. AngloGold Ashanti Ltd. (NYSE: AU) shares are up about 3 percent, with about 6,000 shares traded. YamanaGold Inc. (NYSE: AUY) is up nearly 2 percent, with about 26,000 shares traded. — Mike Tarsala

Gold Options Trading Heats Up (GLD)

247admin — Thu, 21 Aug 2008 15:14:00 +0000

Based upon the rise in oil and commodities and the ultimate flight to safety or the ultimate flight to inflation protection, we are seeing again some increased call option activity in SPDR Gold Shares (NYSE: GLD). This is the ETF that tracks the price of gold by essentially 1/10 of the price. At 11:08 AM EST we have seen a 3% rise to $82.47 as of 11:12 AM EST in the gold ETF. With oil up $6.00 on Russian-US tensions, what else do you expect? The gold ETF options are among the CBOE’s most active contracts as you will see below:

OPTION-STRIKE    Volume    OpInt
OCT08 $85.00 CALLS    12,742    2,429
OCT08 $90.00 CALLS    23,848    28,543

Traders are playing October contracts more than others as the time-value erosion versus the premium paid for time value is maximized.

Jon C. Ogg
August 21, 2008

Traders Flock to GOLD ETF Options (GLD)

247admin — Thu, 14 Aug 2008 14:27:53 +0000

We are seeing a large trading interest in gold options today, via the SPDR Gold Shares (NYSE: GLD). It seems the inflation and commodity bugs might be watching that huge CPI number from this morning. The ETF has only traded about 3.5 million shares today (averag 12.5 million shares). But there have been more than 10,000 options (over 1 million shares fully leveraged) trade in the SEPT08 $85.00 CALLS. The open interest before today was listed as 8,283 contracts.

We have also seen 2,305 contracts in the AUG08 $80.00 CALLS, where the priuor open interest was 2,304. That may have just been a close out trade since those options expire tomorrow. We have also seen some PUT options expiring tomorrow get closed out with more than 6,000 contracts traded in both the $80.00 and $82.00 strike prices.

The “GLD” is meant to track the price of gold bullion.

10:29 AM EST
Jon C. Ogg
August 14, 2008

Pre-Market Volume Spike: GOLD & GOLD STOCKS

247admin — Mon, 23 Jun 2008 12:52:42 +0000

Gold is being pounded this morning after the dollar has recovered against the Yen and other currencies. Many of the gold producers and gold bug related stocks are taking it on the chin on active volume in pre-market trading.

ETF: SPDR Gold Shares (NYSE: GLD) down 2.45% at $86/.77 on 692,000 shares at 8:44 AMEST.
Gold Fields Ltd. (NYSE: GFI) down 2.87% at $10.83 on 121,000 shares at 8:44 AM EST.
AngloGold Ashanti Ltd. (NYSE: AU) down 3.7% at $28.85 on 54,000 shares at 8:46 AM EST.

Other major Gold stocks are trading lower as well, but these three looked to be the most active in pre-market trading. We are seeing the inverse out of the “SHORT” ETN’s” which covered as new earlier this year issued by Deutsche Bank:

DB Gold Double Short ETN (NYSE: DZZ)
DB Gold Double Long ETN (NYSE: DGP)
DB Gold Short ETN (NYSE: DGZ)

Jon C. Ogg
June 23, 2008