Gold investment news review today April 18, 2013:
Gold price plunged lower to open the week as investors sold-off in significant fashion. Gold price dropped to near a two year low and price trend-lines have been choppy since. Once again, gold price per ounce closed the last full trading session with a floor price in negative territory for the day. Gold contract for June delivery closed the last full trading session lower at 1,382.70 per troy ounce. One month price trend-line change for gold contract price is negative by 13.26 percent.
The negatively skewed action for gold price took its toll on various funds. Funds like Market Vectors Gold Miner’s ETF (US:GDX) and SPDR Gold Shares (US:GLD) have been affected by the recent volatility. GDX is negative this year so far by approximately 38 percent. One month price change for GDX is negative. Just over the last month, Market Vectors Gold Miner’s ETF dropped approximately 28 percent. As of mid-morning today, fund trends were positive for GDX. SPDR Gold Shares value trend-line is is also negative over the last month dropping approximately 17 percent during this time-frame. Today, as of the mid-morning check, value trends were positive for GLD. GLD was up to 133.83 this morning and GDX was up to 27.67 this morning.