La vendita allo scoperto per VanEck Gold Miners ETF dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di VanEck Gold Miners ETF. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

VanEck Gold Miners ETF (ARCA:GDX), Report sulle vendite allo scoperto

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The fund normally invests at least 80% of its total assets in common stocks and depositary receipts of companies involved in the gold mining industry. The index is a modified market-capitalization weighted index primarily comprised of publicly traded companies involved in the mining for gold and silver. The fund is non-diversified.

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Barrick Gold Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) shares are trading slightly higher after it reported fourth-quarter revenue of $3.645 billion, up 8% quarter over quarter, missing the <a href="https://www.benzinga.com/pressreleases/25/02/g43651239/barrick-delivers-strong-year-end-performance-while-advancing-key-growth-projects" target="_blank" rel="noreferrer noopener">consensus of $3.978 billion</a>. 
Gold production stood at 1,080 thousand ounces (+15% Q/Q), and gold sales were 965 thousand ounces (flat Q/Q).
The average realized gold price rose&nbsp;7% Q/Q&nbsp;to&nbsp;$2,657 per ounce, and all-in-sustaining costs (AISC) fell 4%&nbsp;Q/Q to&nbsp;$1,451 per ounce in the quarter.
Copper production surged 33%&nbsp;Q/Q to 64 thousand tonnes, and the average realized copper price declined 7% Q/Q&nbsp;to&nbsp;$3.96 per pound.
Adjusted EPS of&nbsp;46 cents beat <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of&nbsp;41 cents</a>.
At the end of the year, cash and cash equivalents stood at&nbsp;$4.07 billion, and debt was&nbsp;$4.73 billion.
Capital expenditure increased 21%&nbsp;Q/Q to&nbsp;$891 million, and operating cash flow stood at&nbsp;$1.39 billion.&nbsp;
President and chief executive&nbsp;Mark Bristow&nbsp;said, &#8220;During the fourth quarter, we made steady progress in ramping up operations at Pueblo Viejo, improving recovery, despite lower production on the back of a slight decrease in grade.&#8221;
&#8220;At Veladero and Nevada Gold Mines, we boosted production and we closed the gaps at Kibali while strengthening the management team there. Additionally, we completed two major feasibility studies to advance the transformational Lumwana and Reko Diq projects, and also significantly increased our reserves and resources.&#8221;
&#8220;While ongoing issues in Mali remain an investor concern, which have overly weighed on the share price, Barrick&#8217;s fundamental value proposition has never been stronger.&#8221;&nbsp;
Barrick declared a fourth-quarter dividend per share of 10 cents, payable on March 17, to shareholders of<a href="https://www.benzinga.com/pressreleases/25/02/g43651222/barrick-reports-share-repurchases-and-declares-q4-dividend" target="_blank" rel="noreferrer noopener"> record as of February 28, 2025</a>.
Barrick repurchased 28.675 million shares during the year. The company&#8217;s Board of Directors approved a new share repurchase program of up to $1.0 billion.
As part of this move, Barrick had discontinued the share repurchase program announced on February 14, 2024, under which it had repurchased<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43651224/barrick-announces-new-share-buyback-program" rel="noreferrer noopener"> $498 million in common shares</a>.
FY25&nbsp;Outlook: The company expects attributable gold production in the range of 3.15–3.5 million ounces (excluding production from temporarily suspended Loulo-Gounkoto) and AISC in the range of&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">1,460 &#8211; 1,560&nbsp;per ounce</a>.
For 2025, attributable capital expenditure&nbsp;is expected to be&nbsp;$3.100 billion &#8211; $3.600 billion.
The company sees attributable copper production of 200,000–230,000 tonnes in 2025, led by higher production at Lumwana.
Investors can gain exposure to the stock via&nbsp;Sprott Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>) and&nbsp;VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: GOLD shares are up 0.23% at $17.11 premarket at the last check Wednesday.
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Barrick Gold Q4: Higher Realized Gold Prices, Revenue Miss, New Stock Buyback And More

Gold's momentum shows no signs of slowing. The bullion – as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – continued its record-breaking run, closing at $2,860 per ounce on Wednesday, hitting the fifth straight winning session as central banks and investors pour into the metal, seeking safety amid escalating geopolitical <a href="https://www.benzinga.com/news/econ-s">tensions and economic uncertainty</a>.
In a report shared Wednesday, the World Gold Council highlighted that total gold demand, including over-the-counter investment, rose 1% year-over-year in the fourth quarter, setting a new record of 4,974 tons for 2024. 
Central banks have been leading the charge, purchasing over 1,000 tons of gold for the third consecutive year, with buying accelerating sharply in the fourth quarter to 333 tons.
&#8220;Central banks and investors drive market strength.Demand in value terms reached previously unseen levels,&#8221; the World Gold Council wrote. 
<h3 class="wp-block-heading">Why Are Central Banks Rushing To Buy Gold?</h3>
The surge in central bank gold purchases signals a strategic shift in global finance, with institutions seeking to reduce reliance on the U.S. dollar amid heightened geopolitical risks. 
The latest tensions between the U.S. and China, fueled by Donald Trump's proposed 10% import tariffs and China's retaliatory restrictions on U.S. energy imports, have only reinforced gold's status as a hedge.
Further compounding concerns, President Trump suggested the possibility of sending U.S. forces to the Gaza Strip, adding another layer of uncertainty that has investors flocking to the yellow metal.
&#8220;We believe this gold price action reflects a significant shift in the dynamics of the gold markets over the past two years,&#8221; said Imaru Casanova, portfolio manager at VanEck. &#8220;Central banks worldwide have emerged as a major driver of gold demand and gold prices, buying record amounts of gold bullion since 2022.&#8221;
<h3 class="wp-block-heading">Miners Play Catch Up, Still Undervalued Despite Gold&#8217;s Rally</h3>
Despite bullion's remarkable ascent, some of the world's largest gold miners have underperformed significantly.
John Ciampaglia, CEO of Sprott Asset Management, said, &#8220;Some of the bellwethers, the largest gold miners in the world, struggled last year. Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) and Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) underperformed gold quite significantly. I think that isn&#8217;t very clear for a lot of investors because the reason that you invest in gold stocks is for their operating leverage.&#8221;
Yet, miners have recently started catching up. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rallied 2.2% on Wednesday, marking its highest level since late October and extending its winning streak to six weeks &#8211; the longest since July 2020. Year-to-date, gold mining stocks have outperformed all other industries, surging 18.9%.
Top-performing gold miners within the GDX ETF on Wednesday included: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>1-day %chg</th>
</tr>
</thead>
<tbody>
<tr>
<td>SSR Mining Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSRM#NASDAQ">SSRM</a>)</td>
<td>11.03</td>
</tr>
<tr>
<td>Calibre Mining Corp. NASDAQ: СХВ)</td>
<td>6.08</td>
</tr>
<tr>
<td>Zhaojin Mining Industry Company Limited</td>
<td>6.07</td>
</tr>
<tr>
<td>Aris Mining Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARMN#NASDAQ">ARMN</a>)</td>
<td>4.42</td>
</tr>
<tr>
<td>Alamos Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>)</td>
<td>3.68</td>
</tr>
<tr>
<td>Newmont Corporation</td>
<td>3.65</td>
</tr>
<tr>
<td>Westgold Resources Limited</td>
<td>3.42</td>
</tr>
</tbody>
</table>
</figure>
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Gold Extends Records As Central Banks Rush To Buy Bullion, Miners Eye Sixth Straight Winning Week

Gold surged past $2,790 in Thursday morning trading, setting a new all-time high after eclipsing its late October 2024 peak. Central bank actions and rising demand for safe-haven assets <a href="https://www.benzinga.com/markets">fueled the metal's climb.</a>
Several major central banks have signaled a more dovish stance on inflation in recent hours, leading speculators to anticipate lower borrowing costs ahead—providing further support for gold prices. 
Furthermore, speculation over higher U.S. tariffs is leading to greater demand for gold by central banks, with disruptions affecting trading in London.
<h3 class="wp-block-heading">Fed Holds Steady, While Other Major Central Banks Ease Borrowing Costs</h3>
The Federal Reserve held interest rates steady on Wednesday and refrained from offering clear guidance on future moves. 
Yet, Fed Chair Jerome Powell struck a noticeably less hawkish tone compared to his stance in December.
Powell welcomed the latest inflation readings for January and did not rule out the possibility of rate cuts, stating that weaker labor market conditions or faster-than-expected disinflation could justify easing monetary policy.
Powell further stated that interest rates remain &#8220;meaningfully above neutral,&#8221; suggesting there is room for potential cuts.
&#8220;We remain comfortable with our forecast that the FOMC will deliver two more 25bp cuts in June and December this year and one more in 2026,&#8221; Goldman Sachs economist David Mericle wrote in a note Thursday. 
Market-based expectations continue to point toward two additional Fed rate cuts by the end of 2025, with the first move likely coming in June. 
On Wednesday, the Bank of Canada announced a 25-basis-point rate cut to 3%, citing inflation's broad convergence toward the 2% target. Policymakers also noted the potential negative economic effects of rising U.S. trade tariffs.
The BoC further announced the end of quantitative tightening and plans to restart asset purchases in early March to support liquidity and economic activity. 
On Thursday, <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43336153/us-economy-grows-below-q4-estimates-as-consumer-spending-hits-7-quarter-high">U.S. GDP growth for the fourth quarter of 2024</a> came in at 2.3%, missing the 2.6% consensus estimate. 
The same day, both the <a href="https://www.benzinga.com/government/regulations/25/01/43340971/ecb-cuts-interest-rates-by-25-basis-points-as-economy-cools-lagarde-rejects-bitcoin-as-reserve-asset">European Central Bank</a> and Sweden's Riksbank also announced rate cuts.
<h3 class="wp-block-heading">Gold Miners Rally, Central Banks Rush To Gold In London</h3>
Rising gold prices are fueling a rally among metal miners during Thursday trading.
The widely followed VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rallied 4.2% reaching levels last seen in early November 2024. Junior miners, as tracked by the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>), were similarly up by 4.1%. 
In a seminar last week, VanEck portfolio manager Imaru Casanova indicated that central banks are rushing to buy gold. 
"Central banks are emerging as a key demand driver for gold prices," she said. 
As reported by Reuters, gold traders in London are scrambling to borrow bullion from central banks as shipments to the U.S. surge amid speculation of potential import tariffs. 
The Bank of England, which stores gold for central banks, is experiencing delays of up to four weeks for withdrawals—far longer than the usual few days.
The rush is driven by traders hedging risks on COMEX and capitalizing on a price premium between U.S. futures and London spot prices. 
Former Koch Supply &amp; Trading executive Robert Gottlieb told Reuters that the BoE is struggling to handle the increased borrowing requests.
Mining stocks showing a notable surge on Thursday include:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-day Return</td>
</tr>
<tr>
<td>Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>)</td>
<td>8.18%</td>
</tr>
<tr>
<td>MAG Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAG#NYSE">MAG</a>)</td>
<td>7.67%</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>7.15%</td>
</tr>
<tr>
<td>Fortuna Mining Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>)</td>
<td>6.96%</td>
</tr>
<tr>
<td>SilverCrest Metals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SILV#NYSE">SILV</a>)</td>
<td>6.72%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43318325/a-different-powell-emerges-fed-chair-softens-hawkish-tone-on-interest-rates-bitcoin">A Different Powell Emerges: Fed Chair Softens Hawkish Tone On Interest Rates, Bitcoin</a></li>
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Gold Hits Record High As Central Banks Ease Stance: 5 Mining Stocks Rally

Gold surged to $2,760 per ounce on Jan. 22, hitting an 11-week high and eyeing its <a href="https://www.benzinga.com/markets/commodities">fourth consecutive weekly gain.</a>
The rally is being fueled by mounting geopolitical tensions as Donald Trump returns to the White House, stoking fears of potential trade and diplomatic disruptions with key partners like Mexico, Canada, China, and the European Union. What makes the recent gold&#8217;s rally even more remarkable is that it's happening alongside a stronger U.S. dollar, a dynamic that traditionally weighs on gold prices. 
During a VanEck webinar on Wednesday, portfolio manager Imaru Casanova highlighted a major force driving the bullion market. &#8220;Central banks are emerging as a key demand driver for gold prices,&#8221; she said, while highlighting that Western investors have largely been absent from this rally.
Seasonality is also working in gold's favor. Historically, January has been the best-performing month for the metal. Over the past 24 years, gold has averaged a 2.6% gain in January, outpacing August, the second-best month, which has returned 1.8% on average.
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<h2 class="wp-block-heading">Gold Miners Surge, But They're Still Playing Catch-Up</h2>
Gold miners have joined the rally, but their performance still lags behind the metal itself. 
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) has climbed more than 10% in January, setting up its strongest monthly performance since July 2024, when it gained nearly 12%. In relative terms, gold miners are the second best-performing stock industry in January, behind semiconductors which rallied 12%. 
Yet, looking at the bigger picture, miners remain deeply undervalued relative to gold. While gold prices have soared nearly 40% since their 2011 peak, mining stocks are still trading 40% below their all-time highs.
Casanova indicated that the lack of investor interest in gold equities has been one of the main reasons miners have struggled to keep pace with gold. Even as the metal continues to reach new highs, investor demand for gold stocks has remained muted.
The expert highlighted the valuation gap between gold and miners won't last forever. 
One major issue holding back miners is that Western investors have largely abandoned gold as an asset class, despite central banks aggressively buying physical gold. Casanova made it clear: &#8220;Gold stocks have not been able to keep pace with gold because central banks don't buy gold stocks, they buy gold metal.&#8221;
However, that could change in 2025. If institutional investors start returning to gold as a hedge against inflation, economic uncertainty, and geopolitical risks, mining stocks could be set for significant outperformance.
&#8220;We think market participants may no longer be able to ignore that there is a very compelling case for owning gold equities given these valuations,&#8221; Casanova said.
Historically, gold mining stocks have been a leveraged play on gold, meaning they should outperform the metal itself when prices rise. That hasn't happened this time. 
Casanova said, &#8220;When gold price increases, if margins are also expanding, then the cash flow generation of these companies increases at an even lower base than the increase in the whole price.&#8221;
Despite this, gold miners are currently more profitable than ever. In 2024, gold prices averaged $2,400 per ounce, a 23% increase from 2023 levels. At the same time, cost inflation has stabilized, allowing gold producers to maintain profit margins exceeding $1,000 per ounce.
<h2 class="wp-block-heading">Miners Are Choosing Discipline Over Growth</h2>
Instead of focusing on aggressive expansion, mining companies have shifted toward financial discipline. 
As Casanova indicated, the industry has prioritized balance sheet strength, cost control, and returning capital to shareholders through dividends and stock buybacks. &#8220;We see a sector that is really focused on that versus just getting bigger for the sake of getting bigger. We see discipline when it comes to capital allocation, whether it's in the form of returning to investors in the form of dividends or share buybacks, or just being very disciplined with capital allocation,&#8221; she said. That strategy has helped improve operational efficiency and extend mine life, but investors have yet to reward it. 
The key question now is whether this approach will finally start attracting institutional money back into gold equities.
With gold prices holding near record highs, and geopolitical risks escalating, the stage is set for a potential shift in investor sentiment. If Western investors return to gold, mining stocks may finally deliver the outperformance that has long been expected. 
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Gold's Blowout Rally Puts Spotlight On Miners: Will They Finally Catch Up?

Trump's first day in office brought a wave of executive orders targeting immigration, energy, social policies, and announcing the withdrawal from global agreements like the Paris Climate Accord and <a href="https://www.benzinga.com/topic/donald-trump">the World Health Organization. </a>
Trump also pledged to raise tariffs up to 25% on both Canada and Mexico starting Feb. 1, but fell short of announcing universal tariffs on all imports.
Following Monday&#8217;s market closure for Martin Luther King Jr. Day, investors began assessing how Trump's new policy measures could impact sectors across the board. 
Gold miners and defense stocks outperformed, while solar energy companies were among the hardest hit.
<h3 class="wp-block-heading">Wall Street&#8217;s Winners And Losers After Trump&#8217;s Day 1</h3>
Gold miners were among the standout performers, amid rising trade fears between the U.S. and Canada. 
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) climbed 2.6% by 1:30 p.m. ET Tuesday. Leading gains were Harmony Gold Mining Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>), up 4.3% and Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>), up 3.1%.
&#8220;While President Trump's Inauguration Day policy announcements on tariffs were more benign than expected, we continue to expect the White House to increase tariff rates on autos and imports from China, and we see other tariff proposals as a risk,&#8221; Goldman Sach&#8217;s analyst Elsie Peng wrote in a note Tuesday.
Defense stocks also surged as Trump's policies emphasized national security and border protection declaring a &#8220;national emergency&#8221; at the southern border with Mexico. The iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>) rose 3.3%.
Other notable movers included the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), up 2%, and the SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>), which rose 1.6% as investors bet on increased demand for industrial materials.
Oil and gas exploration companies saw declines despite <a href="https://www.benzinga.com/government/regulations/25/01/43097430/trumps-drill-baby-drill-era-begins-oil-prices-tumble-us-energy-stocks-edge-up">Trump's "Drill, Baby, Drill"</a> push to unleash U.S. energy resources. The SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) dropped 1.1%, signaling concerns about potential oversupply.
Clean energy and solar stocks, however, suffered from Trump's decision to halt offshore wind leasing and withdraw the U.S. from the Paris Climate Accord. 
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) fell 3.1%, with losses from Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>), down 6.7%, and First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), which dropped 5.4%. The Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) slipped 1%.
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Trump's First Day Sends Gold Miners, Defense Stocks Soaring, Solar Sliding

As metals markets weather volatility, optimism for a &#8220;V-shaped recovery&#8221; is gaining traction. JPMorgan analysts Dominic O&#8217;Kane and Patrick Jones suggest <a href="https://www.benzinga.com/markets/asia/24/12/42692036/billionaire-investors-michael-burry-david-tepper-could-benefit-from-chinas-stimulus-measures">China's expected fiscal stimulus</a> could be the turning point for the sector. 
With metal prices poised for a rebound, they urge investors to &#8220;accumulate positions in oversold miners&#8221; like Anglo American PLC (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTCQX">NGLOY</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/AAUKF#OTCQX">AAUKF</a>), First Quantum Minerals Ltd (OTCPK:FQVLF) and Lundin Mining Corp (OTCPK:LUNMF).
Exchange-traded funds like the SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>), the iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>) provide diversified exposure to the metals and mining sector.
<h2 class="wp-block-heading">Mining Stocks Set For Revival?</h2>
The 17% decline in European metals &amp; mining stocks since late September 2024 reflects market caution amid tariff risks and US$/CNY devaluation. However, analysts see this downturn as an opportunity for strategic investment. Anglo American faces near-term challenges, including $2 billion in impairments and delays in its diamond divestment strategy. Despite this, the company may emerge as an M&amp;A target post the Anglo Platinum de-merger.
Lundin Mining and Norsk Hydro ASA (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NHYDY#OTCQX">NHYDY</a>) stand out as resilient picks, with strong fundamentals that may help them weather tariff-related uncertainties. 
Analysts maintain a positive outlook on these names, expecting them to benefit from the broader market recovery.
Read Also: <a href="https://www.benzinga.com/markets/commodities/24/12/42455382/gold-to-shine-bright-in-2025-as-top-investment-bank-predicts-bullish-outlook-amid-trade-tensions">Gold To Shine Bright In 2025 As Top Investment Bank Predicts Bullish Outlook Amid Trade Tensions</a>
<h2 class="wp-block-heading">Gold Stocks Shine Amid Market Turbulence</h2>
Gold continues to prove its mettle as a safe-haven asset, with prices projected to rise to $2,100 per ounce. 
Stocks like AngloGold Ashanti PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>), Hochschild Mining PLC (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/HCHDF#OTCQX">HCHDF</a>), and Fresnillo PLC (OTCPK:FNLPF) remain key picks by the analysts, supported by strong silver production forecasts and rising demand for precious metals.
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) are popular ways to get exposure to gold miners&#8217; stocks.
The analysts highlight Fresnillo's silver production strength, placing it on a Positive Catalyst Watch.
<h2 class="wp-block-heading">China's Stimulus: The Tipping Point?</h2>
All eyes are on the March 5 National People&#8217;s Congress, where China is expected to announce fiscal measures that could fuel a surge in metal prices. 
The analysts believe these moves could trigger a sharp market recovery, solidifying the case for accumulating positions in mining stocks before a potential uptrend.
<h2 class="wp-block-heading">The Takeaway</h2>
As metals markets teeter on the edge of revival, accumulating oversold miners may offer strategic value ahead of a &#8220;V-shaped recovery.&#8221; 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/01/42986605/exclusive-energy-semiconductors-could-dominate-portfolios-in-2025-says-direxion-ceo" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Energy, Semiconductors Could Dominate Portfolios In 2025, Says Direxion CEO</a></li>
</ul>
Image created using photos from Shutterstock.

Analyst Color

Asia

Long Ideas

Markets

Analyst Ratings

Trading Ideas

AAUKF

FNLPF

FQVLF

HCHDF

LUNMF

NGLOY

NHYDY

PICK

Will Gold, Mining Stocks Ride A 'V-Shaped Recovery'? Analysts Say Accumulate 'Oversold Miners'

As the global commodity market braces for a challenging 2025,&nbsp;ING Group NV&nbsp;forecasts a bullish outlook for gold amid potential trade tensions between the U.S. and China.
What Happened: ING Group NV&nbsp;anticipates a difficult year for commodities in 2025, driven by possible trade tensions between the United States and China. Despite this, gold is expected to maintain its status as a safe haven, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-12/gold-will-shine-in-bearish-year-ahead-for-commodities-ing-says">reported</a> on Thursday.
The report indicates that President-elect&nbsp;Donald Trump&#8216;s proposed tariffs could disrupt markets, impacting oil, metals, and agriculture. Traders are also monitoring China&#8217;s stimulus measures, which could affect consumption.&nbsp;Warren Patterson&nbsp;and&nbsp;Ewa Manthey&nbsp;from ING noted that the commodity sector might face downward pressure with balanced supply and demand.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a> 
Gold is projected to continue its record-breaking trend,&nbsp;with prices averaging $2,760 an&nbsp;ounce in 2025. Central banks are likely to drive demand as they diversify reserves amid geopolitical tensions.&nbsp;The outlook for industrial metals&nbsp;remains uncertain, with factors like trade policies and Chinese demand influencing prices. Copper is predicted&nbsp;to average $8,900 a ton, while grains and soft commodities face volatility due to trade disputes and weather concerns.
Why It Matters: The anticipated performance of gold aligns with earlier <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41810728/jpmorgan-predicts-strong-performance-for-bitcoin-and-gold-under-trump-presidency">predictions by&nbsp;JPMorgan</a>, which foresaw significant gains for both Bitcoin and gold following Trump&#8217;s presidential win. This is attributed to a &#8220;debasement trade,&#8221; where assets like gold are seen as reliable stores of value amid currency devaluation.
Despite the chaotic metals market post-Trump&#8217;s re-election,&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41877899/trump-re-election-jolts-metals-market-as-gold-sees-a-stumble-not-a-sea-change">JPMorgan&#8217;s Commodities Research team</a>&nbsp;emphasized that gold&#8217;s recent fluctuations are merely a &#8220;stumble, not a sea change.&#8221; Meanwhile, some voices, like&nbsp;Michael Saylor, advocate for a <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42413650/michael-saylor-urges-us-to-ditch-gold-for-bitcoin-sell-the-past-own-the-future">shift towards Bitcoin</a>, labeling gold as outdated. However, gold&#8217;s enduring appeal as a safe haven remains significant amidst geopolitical uncertainties.
Price Action: According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, Gold ETFs have been experiencing an upward tick after Trump&#8217;s win in the 2024 elections. SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) increased by 4.54% while iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) rose by 4.52%. VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) witnessed an 8.25% rise in the past month while VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) rose by 10.57%.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42380768/quantum-computing-stocks-roundup-d-wave-rigetti-ionq-lead-the-charge-with-explosive-growth?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Quantum Computing Stocks Roundup: D-Wave, Rigetti, IonQ Lead the Charge With Explosive Growth</a></li>
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

General

Gold To Shine Bright In 2025 As Top Investment Bank Predicts Bullish Outlook Amid Trade Tensions

Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) disclosed the sale of its Cripple Creek &amp; Victor operation in Colorado to SSR Mining Inc. <a href="https://www.benzinga.com/pressreleases/24/12/b42360696/newmont-announces-agreement-to-divest-cc-v-for-up-to-275-million" target="_blank" rel="noreferrer noopener">for up to $275 million in cash</a>.
As per the terms of the agreement, Newmont will receive up to $275 million in gross proceeds. This includes $100 million in cash, payable at closing.
Additionally, Newmont will receive $87.5 million in contingent cash upon securing pending regulatory approvals.
A further $87.5 million will be paid upon resolving regulatory applications related to the Carlton Tunnel.
With this transaction, Newmont will have generated up to $3.9 billion in gross proceeds from non-core asset sales and investments.
The deal is expected to close in the first-quarter of 2025, subject to customary conditions.
Newmont will cover 90% of any incremental closure costs exceeding $500 million at CC&amp;V, as outlined in an updated regulator-approved closure plan.
This funding can be provided on an as-incurred basis or through a net present value lump-sum payment.
&#8220;We are excited to announce the continuation of our divestment program to streamline the Newmont portfolio as the leading operator of Tier 1 gold and copper assets,&#8221; said Tom Palmer, Newmont&#8217;s President and Chief Executive Officer. 
In February 2024, Newmont disclosed its plans to divest non-core assets, including six operations and two projects across its Australian,<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/02/37287732/gold-miner-newmont-looks-to-sell-assets-reduce-8b-debt-load" rel="noreferrer noopener"> Ghanaian, and North American business units</a>.
With definitive agreements in place for four additional operations, the company aims to finalize its non-core asset divestiture program by Q1 2025.
Total gross proceeds from transactions announced in 2024 <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">are expected to reach up to $3.9 billion</a>.
Last month, the company sold its&nbsp;Éléonore&nbsp;mine in Quebec Tuesday to London-based&nbsp;<a target="_blank" href="https://www.benzinga.com/news/asset-sales/24/11/42202141/newmont-sells-mine-for-795-million-barrick-expands-reserves-top-miners-unfazed-by-underperformance" rel="noreferrer noopener">Dhilmar</a><a target="_blank" href="https://www.benzinga.com/news/asset-sales/24/11/42202141/newmont-sells-mine-for-795-million-barrick-expands-reserves-top-miners-unfazed-by-underperformance" rel="noreferrer noopener">&nbsp;for $795 million in cash</a>.
Investors can gain exposure to the stock via&nbsp;iShares MSCI Global Gold Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) and&nbsp;VanEck Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: NEM shares are up 0.97% at $41.46 at the last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42044353/newmont-strikes-850m-deal-to-sell-musselwhite-mine-bolstering-2b-asset-sales-streak" target="_blank" rel="noreferrer noopener">Newmont Strikes Deal To Sell Musselwhite Gold Mine, Bolstering $2 Billion Asset Sales Streak</a></li>
</ul>
Photo: Shutterstock

RING

Newmont Sells Colorado Mine For $275 Million, Refocuses On Gold, Copper

Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) shares are trading higher on Monday. The company disclosed a deal to sell its Musselwhite operation in Ontario, Canada, to Orla Mining Ltd. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ORLA#AMEX">ORLA</a>) for up to<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42032739/newmont-announces-sale-of-musselwhite-for-up-to-850-million" rel="noreferrer noopener"> $850 million in total consideration</a>.
As per the deal, Newmont will receive $810 million in cash at closing and up to $40 million in contingent payments.
The deal will push Newmont&#8217;s total proceeds from non-core asset sales past $2 billion and expected to close in the first quarter of 2025.
Notably, in February 2024, Newmont announced plans to divest six operations and two projects across its Australian, Ghanaian, and North American units.
With agreements finalized for assets in Australia, Ghana, and Musselwhite, the company aims to complete sales of its remaining North American non-core assets by the first quarter of 2025.
Also, Orla Mining expects the deal to be materially accretive on all key operating and financial per-share metrics, <a target="_blank" href="https://www.benzinga.com//node/42031628" rel="noreferrer noopener">benefiting all existing shareholders.</a>
Newmont expects total gross proceeds from 2024 transactions to reach up to $2.9 billion, including $2.3 billion from non-core divestitures and $527 million from other investment sales.
Newmont is advancing shareholder returns with a $3 billion buyback program, repurchasing 7.2 million shares for $336 million since October 2024. It also reduced debt by $500 million in 2024, nearing its $8 billion targeted debt balance.
Investors can gain exposure to the stock via&nbsp;iShares MSCI Global Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) and VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: NEM shares are up 2.58% at $41.99, and ORLA is up 8.25% at $4.265 at the last check Monday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41795668/peter-schiff-says-cutting-taxes-is-easy-but-reducing-spending-not-so-simple-warns-of-inflation-s" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Cutting Taxes Is Easy&#8217; But Reducing Spending Not So Simple, Warns Of Inflation Spike Under Trump</a></li>
</ul>

Asset Sales

ORLA

Newmont Strikes Deal To Sell Musselwhite Gold Mine, Bolstering $2 Billion Asset Sales Streak

MSTR

Rydex ETF Trust Rydex S&P Equal Weight ETF

Elliott Investment Management 13F Shows Exited Position In Marathon Petroleum, Previously Holding 7,365,000 Shares; Ishares Biotechnology ETF Put Position, Previously Holding 2,800,000 Shares; Invesco S&P 500 Equal Weight ETF Put Position, Previously Holding 1,925,000 Shares; Vaneck Gold Miners ETF Put Position, Previously Holding 5,000,000 Shares; BHP Group Ltd Call Position, Previously Holding 2,500,000 Shares; MicroStrategy Convertible Note, Previously Holding $27.5 Million In Principal

Barrick Gold Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) shares are trading lower after it reported&nbsp;third-quarter FY24 revenue of&nbsp;$3.368 billion (+18% year over year),&nbsp;missing <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g41800414/barrick-mines-set-to-deliver-strong-finish-to-the-year" rel="noreferrer noopener">the&nbsp;consensus of&nbsp;$3.416 billion</a>.&nbsp;
Gold production stood at 943 thousand ounces (-9%), and gold sales were 967 thousand ounces (-6%).
The average realized gold price rose 29% to $2,494 per ounce, and all-in-sustaining costs (AISC) rose 20% to $1,507 per ounce in the quarter.
Read: <a href="https://www.benzinga.com/markets/equities/24/10/41365127/barrick-sees-stable-gold-output-in-q3-prepares-for-stronger-q4">Barrick Sees Stable Gold Output In Q3, Prepares For Stronger Q4</a>
Copper production declined&nbsp;6% to 48 thousand tonnes, and the average realized copper price rose&nbsp;13% to&nbsp;$4.27 per pound.
Adjusted EPS of 30 cents missed <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">the consensus of 31 cents</a>.
At the end of the quarter, cash and cash equivalents stood at&nbsp;$4.23 billion, and debt was&nbsp;$4.725 billion.
Capital expenditure fell 4% to&nbsp;$736 million, and operating cash flow stood at&nbsp;$1.18 billion.&nbsp;
President and chief executive Mark Bristow said, "The company was again planning to replace mineral reserves net of depletion in 2024 by a significant margin, driven by the contributions from the Reko Diq copper-gold project and the Lumwana Super Pit expansion project.&#8221;
&#8221;The feasibility studies for both projects are on track for completion by the year-end. Long lead items are being ordered and key project team members are being recruited."&nbsp;
&#8220;The Fourmile project in Nevada continues to show exciting value potential, and significant new satellite orebody opportunities have been highlighted at Loulo and Kibali. In addition, our exploration teams are working on very promising new prospects across our portfolio,&#8221; Bristow added.
Dividend: GOLD declared a second-quarter dividend per share of 10 cents, payable on December 16, to shareholders of <a href="https://www.benzinga.com/pressreleases/24/11/g41800290/barrick-declares-q3-dividend-and-buys-back-additional-shares" target="_blank" rel="noreferrer noopener">record as of Nov. 29, 2024</a>.
Repurhcase: The company repurchased 4.725&nbsp;million shares in the quarter under the&nbsp;$1 billion&nbsp;buyback program announced in February 2024.
FY24 Outlook Reiterated: The company continues to project attributable gold production in the range of 3.9-4.3 million ounces and AISC in the range of <a href="https://www.benzinga.com//node/40311708" target="_blank" rel="noreferrer noopener">$1,320–$1,420 per ounce</a>.
For 2024, capital expenditure&nbsp;is expected to be <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">within&nbsp;$2.50 billion-$2.90 billion</a>.
Investors can gain exposure to the stock via&nbsp;Sprott Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>) and&nbsp;VanEck Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: GOLD shares are down 2.17% at $18.01 at last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41795668/peter-schiff-says-cutting-taxes-is-easy-but-reducing-spending-not-so-simple-warns-of-inflation-s" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Cutting Taxes Is Easy&#8217; But Reducing Spending Not So Simple, Warns Of Inflation Spike Under Trump</a></li>
</ul>
Photo courtesy: Michael Sutton via Flickr

Barrick Gold Misses Earnings: Reports Lower Gold Sales And Copper Output

Gold mining stocks, as tracked by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), extended their winning streak on Tuesday to nine consecutive sessions, reaching their highest levels since August 2020.
This marks the longest run of gains for gold miners in over three years, driven by strong investor demand and <a href="https://www.benzinga.com/markets/bonds/24/10/41455678/gold-on-track-for-best-year-since-1979-veteran-investor-says-sell-bonds-buy-gold">record-high gold prices. </a>
Gold prices climbed another 0.9% to $2,744 per ounce Tuesday, further extending record highs and boosting sentiment around precious metals. 
&#8220;Today is a good a time to add exposure to gold,&#8221; which should be &#8220;a core component, not a tactical piece,&#8221; of a diversified portfolio, said Imaru Casanova, portfolio manager for gold and precious metals at VanEck, during a webinar for clients on Tuesday.
Casanova stressed gold should be a permanent allocation, particularly in the current environment of rising geopolitical and economic risks.
<h1 class="wp-block-heading">Gold Miners Reach Early-August 2020 Levels, Aim for Record Highs</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="444" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/22153534/image-207-1024x444.png" alt="" class="wp-image-608228" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/22153534/image-207-1024x444.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/22153534/image-207-300x130.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/22153534/image-207-768x333.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/22153534/image-207-1536x666.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/22153534/image-207.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Chart: <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102224&amp;t=be2bearmibe3na1">Benzinga Pro</a></figcaption></figure>
<h1 class="wp-block-heading">Key Drivers For Gold's Rally: Geopolitics and U.S. Economic Policies</h1>
The expert highlighted several factors driving the gold rally including &#8220;Black Swan&#8221; events such as Russia&#8217;s invasion of Ukraine, the 2023 U.S. banking crisis and the recent Hamas attack on Israel.
&#8220;Unfortunately geopolitical risk today seems to be getting worse every day. And so that obviously will continue to support gold,&#8221; she said. 
Casanova also added that a key driver for gold in this environment is represented by the Fed cutting interest rates and expansionary fiscal policies which &#8220;could be inflationary and could potentially bring us into the next wave of higher inflation.&#8221;
Historically, gold has performed well during rate-cutting cycles, returning an average of 25% over 500 trading days in the past three cycles.
She also indicated that central banks, particularly China, have been significant buyers of gold as they seek to reduce dependence on the U.S. dollar and diversify reserves.
<h1 class="wp-block-heading">Gold Miners Benefit from Higher Margins</h1>
Casanova pointed out that gold miners are benefiting from record margins, despite rising production costs due to inflation. 
A 20% increase in gold prices typically translates into a 50% improvement in mining margins, which is driving profitability in the sector. 
According to the expert, miners are trading at historically low valuations, even as they enjoy expanded margins and solid financial health
<h1 class="wp-block-heading">Investment Opportunity in Gold Miners</h1>
In addition to direct gold investments, Casanova emphasized that gold mining stocks offer an attractive vehicle for investors to gain exposure to rising gold prices. 
&#8220;If the gold price is going to go higher, then so should the miners,&#8221; she said, noting that the sector&#8217;s financial discipline, responsible capital allocation, and strong balance sheets position it for further gains.
With improving free cash flow and balance sheet strength, Casanova expects a re-rating of gold mining stocks as investors recognize the sector&#8217;s potential for higher valuation multiples.
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<li><a href="https://www.benzinga.com/government/24/10/41461338/imf-upwardly-revises-us-economic-growth-but-warns-under-current-policies-the-us-public-debt-is-not-s">IMF Brightens US Economic Growth Projections, Warns National Debt &#8216;Not Stabilized</a></li>
</ul>
Photo: Shutterstock

Gold Mining Stocks Notch Ninth Positive Day, Hit August 2020 Highs: 'Today Is A Good Time To Add Exposure,' Analyst Says

Wall Street traded lower for the second consecutive day on Tuesday, as investor sentiment turned cautious with the U.S. presidential election <a href="https://www.benzinga.com/topic/2024-elections">just two weeks away. </a>
Concerns over U.S. fiscal policies and potential shifts in economic direction fueled the pause in risk-taking.
The International Monetary Fund (IMF) upgraded its U.S. growth forecasts for 2024 and 2025 in the latest World Economic Outlook, while also flagging rising concerns about the country's debt trajectory, warning that with current large fiscal deficits, &#8220;the U.S. public debt is not stabilized.&#8221;
Commodities were the standout performers on Tuesday, with both metals and energy experiencing notable gains.
Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 0.8%, pushing further into record territory. This increase extended its year-to-date performance to 34%, positioning gold for its strongest <a href="https://www.benzinga.com/markets/bonds/24/10/41455678/gold-on-track-for-best-year-since-1979-veteran-investor-says-sell-bonds-buy-gold">annual gain since 1979.</a> Gold miners, as represented by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), rallied for the ninth consecutive session, hitting their highest levels in over four years.
Silver, tracked by the iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>), surged 2.8%, reaching levels not seen since October 2012.
Oil prices rallied nearly 3%, building on a 2% surge from Monday. U.S. Treasury yields ticked up modestly on Tuesday following Monday's spike, with the 10-year yield settling at 4.21%.
Meanwhile, the U.S. Dollar Index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), climbed past the 104 mark, continuing its steady ascent and eyeing a fourth consecutive week of gains.
In the cryptocurrency market, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 0.5%, dipping to around $67,000 and marking its second consecutive day of declines.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %change</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,907.57</td>
<td>-0.1 %</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,840.39</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,291.15</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,228.60</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:35 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102224&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.3% to $581.79.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% lower to $429.14.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.4% to $493.29.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.5% $221.04.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 0.6%. The Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) lagged, down 1.1%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Performers</h3>
General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) surged 9%, on track for its strongest session in nearly a year, after reporting stronger-than-expected earnings and announcing an additional $5 billion share buyback program extending into next year.
Other stocks reacting to earnings include: 
<ul>
<li>Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), up 1.5%</li>
<li>Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), down 6%</li>
<li>W.R. Berkley Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>), down 4.6%</li>
<li>Zion Bancorp. N.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>), up 6.8%</li>
<li>Wintrust Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>), up 1.6%</li>
<li>Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), up 8.8%</li>
<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), down over 8%</li>
<li>Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), down 3%</li>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), down 4.4%</li>
<li>RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), down 0.4%</li>
<li>Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), down 5.8%</li>
<li>Fiserv Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), down 0.4%</li>
<li>Moodys Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) down 4.5%</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), down 0.9%</li>
<li>Freeport-McMoran Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), up 1.4%</li>
<li>Kimberly-Clark Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), down 4%</li>
<li>PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), down 5.7%</li>
</ul>
Large-cap companies reporting earnings after the close include Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), Seagate Technology Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>), Manhattan Associates Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>), East West Bancorp. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) and Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>)
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Image: Shutterstock

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Stocks Fall, GM Eyes Best Day In A Year, Gold Breaks Records, Silver Hits 12-Year Highs: What's Driving Markets Tuesday?

Gold prices are nearing the $3,000 per ounce mark, signaling a potential shift in global economic dynamics. Economist Mohamed El-Erian has emphasized the significance of this trend.
What Happened: El-Erian urged the U.S. to take notice and pointed out that gold&#8217;s price has surged nearly 40% over the past year, reaching $2,715 per ounce, in an <a href="https://www.ft.com/content/b5fb1e6b-bb8d-4ab5-9c92-f1f6fc40a54b">op-ed </a>for the Financial Times. This increase has defied traditional economic influences such as interest rates and inflation. The rise is largely due to countries like China and other &#8220;middle power&#8221; nations diversifying their reserves away from the U.S. dollar.
See Also: <a href="https://www.benzinga.com/insights/options/24/10/41411253/palantir-technologies-unusual-options-activity?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir Technologies Unusual Options Activity</a>
Foreign central banks&#8217; consistent gold purchases have bolstered its strength, reflecting a broader loss of confidence in the U.S.&#8217;s management of the global order. This includes the use of trade tariffs and investment sanctions. 
El-Erian warns, &#8220;As it develops deeper roots, this risks materially fragmenting the global system and eroding the international influence of the dollar and the US financial system. That would have an impact on the U.S.'s ability to inform and influence outcomes, and undermine its national security.&#8221;
He advises Western governments to closely monitor this evolving situation due to its implications for national security and global economic stability.
Why It Matters: The recent surge in gold prices coincides with a period of uncertainty in the U.S. markets. On Oct. 17, gold reached a <a href="https://www.benzinga.com/markets/asia/24/10/41398733/gold-surges-past-2-700-to-record-high-asia-and-europe-markets-in-green-global-markets-today-while-us">record high of $2,696 </a>per ounce amid U.S. election uncertainties. Despite mixed quarterly earnings, strong retail sales and positive economic data sustained market optimism.
Furthermore, a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41390144/gold-could-reach-3-000-by-2025-bank-of-america-analyst-says-ultimate-perceived-safe">Bank of America</a> analyst has projected that gold could reach $3,000 by 2025, highlighting its status as the &#8220;ultimate perceived safe haven&#8221; amid concerns over U.S. fiscal policies. Despite rising U.S. Treasury yields, gold prices have continued to climb, supported by these factors.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, gold ETFs were mostly trading higher during Monday&#8217;s pre-market. VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) was up by 1.04%, VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) was up by 1.65%, ProShares Ultra Gold (UGL) was trading 1.34% higher. However, VanEck Merk Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUNZ#NYSE">OUNZ</a>) was trading 0.70% lower. 
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Image via Unsplash
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

OUNZ

Gold's Race To $3,000: Mohamed El-Erian Says US And Other Western Nations Can't Afford To Ignore It

This week, the Vanguard S&amp;P 500 ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NASDAQ">VOO</a>) saw a roughly 0.7% gain, reflecting a broadly positive sentiment on Wall Street driven by a combination of upbeat earnings and <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41386234/strong-september-retail-sales-put-feds-next-move-in-doubt-interest-rate-cuts-are-">macroeconomic factors</a>. 
VOO, which is designed to track the performance of the S&amp;P 500, benefits from movements in its underlying components, making it a key barometer for the overall U.S. stock market.
What&#8217;s Happening: One of the major drivers for VOO's upward movement was a strong start to earnings season that boosted investor confidence. Notably, Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) surged 10% <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41406623/netflix-should-continue-to-outperform-6-analysts-on-streaming-stocks-q3-earnings">after reporting an earnings beat</a>.
As Netflix is a significant part of the S&amp;P 500, its performance positively influenced VOO's price. Other companies, such as Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), which jumped over 9% on earnings, further contributed to the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41406234/intuitive-surgical-posts-q3-earnings-beat-these-analysts-raise-forecasts-on-dv5-upt">bullish market sentiment</a>.
On Thursday, semiconductor stocks fueled a major push for the S&amp;P 500, as <a href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips">strong earnings</a> from Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSMC#NYSE">TSMC</a>) invigorated investor confidence in the tech sector.
Read Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/10/41407647/spy-reaches-600-billion-in-assets-oldest-us-etf-hits-milestone-as-all-time-highs-conti">SPY Reaches $600 Billion In Assets: Oldest US ETF Hits Milestone As All-Time Highs Continue</a>
This semiconductor rally played a pivotal role in driving the S&amp;P 500 higher, and by extension, VOO, as technology remains one of the largest sectors in the index.
What Else: Gold miners saw strong momentum as gold prices reached new record highs, with the VanEck Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NASDAQ">GDX</a>) climbing nearly 4% Friday.
While VOO's exposure to gold miners is limited, the broader gains in commodity-related sectors helped balance weaker performances in sectors like energy.
Macroeconomic data released on Thursday also played a role in sustaining the market's positive momentum. September retail sales exceeded expectations, signaling robust consumer spending, while jobless claims fell, underscoring labor market strength. 
Although the positive data slightly diminished hopes for Federal Reserve rate cuts in November, it reinforced the view of economic resilience, which supported investor sentiment across equity markets. VOO, as a broad-market ETF, was a key beneficiary of this optimism.
Read Also: <a href="https://www.benzinga.com/exclusives/24/10/41405659/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a>

ISRG

NFLX

TSMC

What's Going On With Vanguard S&P 500 ETF (VOO) This Week?

Wall Street was in positive territory in Friday midday trading, buoyed by upbeat quarterly earnings reports that kept <a href="https://www.benzinga.com/markets">investor sentiment bullish.</a>
Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) surged 10% to fresh record highs after delivering a strong earnings beat. The tech-heavy Nasdaq 100 rose 0.8%, pushing its weekly performance into positive territory for the sixth consecutive week.
The S&amp;P 500 and Dow also edged higher, both on track for the sixth straight week of gains, with the Dow flirting with all-time highs.
Gold miners led industry performance as gold prices hit new record levels above $2,700 per ounce. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) soared over 4%, hitting the highest level in over four years. Friday is poised to mark the fourth straight session of gains for both gold and silver, with silver jumping over 3%, heading for its best day since late September.
West Texas Intermediate (WTI) crude prices tumbled more than 2%, slipping below the $70-per-barrel mark. WTI is down over 8% for the week, on pace for its worst weekly decline since January.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed 2.8% to above $68,800.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,352.25</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,870.75</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,300.82</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,279.45</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.5% to $585.12.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% higher to $433.01.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.8% to $495.21.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) stalled at $226.03.</li>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 0.9%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.6%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Stocks moving in reaction to earnings reports were Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), up over 9%, Crown Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>), up over 4%, Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), down 6%, American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), down 2.4%, Procter &amp; Gamble Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) down 0.4%, Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) down 3.3%, Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), down 1.7%, Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), down 1% and Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>), up 4%. </li>
<li>Lamb Weston Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) soared 10% following a report indicating that activist investor&nbsp;Jana Partners&nbsp;has built a 5% stake in the company.</li>
<li>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) fell over 6% after the company replaced its CEO and cut its third-quarter outlook.</li>
</ul>
Read Next:
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Photo via Shutterstock.

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Stocks Rise, Netflix Soars To Record Highs, Oil Falls Below $70, Gold Miners Rally: What's Driving Markets Friday?

Barrick Gold Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) shares are trading lower on Wednesday. The company reported preliminary<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41353276/barrick-reports-q3-preliminary-production-results-with-continued-improvement-at-pueblo-viejo" rel="noreferrer noopener"> third-quarter production metrics</a>.
The company sees production of 943,000 ounces of gold and 48,000 tonnes of copper and preliminary sales of 967,000 ounces of gold and 42,000 tonnes of copper.
Barrick anticipates a significantly stronger fourth quarter, aiming to meet its full-year production guidance for both gold and copper in 2024.
Notably, in the third quarter, the average market price for gold was $2,474 per ounce, while copper averaged $4.18 per pound.
The company said that preliminary gold production remained steady on a Q/Q basis.
Pueblo Viejo sequentially improved by 23% due to ongoing plant optimization, while North Mara benefited from higher grades.
On a Q/Q basis, the third quarter gold cost of sales per ounce is expected to increase by 1% to 3%, total cash costs by 3% to 5%, and all-in-sustaining costs by 0% to 2%, partly due to higher royalties from increased gold prices.
Meanwhile, preliminary copper production increased Q/Q, mainly due to higher grades and recoveries at Lumwana, which benefited from improved ore access following ramped-up stripping activities in the second quarter.
On a Q/Q basis, the third quarter cost of sales per pound is expected&nbsp;to rise by 5% to 7% and C1 cash costs by 13% to 15%.
However, all-in-sustaining costs per pound are expected to decrease by 2% to 4%, primarily due to reduced capitalized waste stripping at Lumwana.
Barrick is scheduled to release its third quarter results before the market <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">opens on November 7, 2024</a>.
Investors can gain exposure to the stock via&nbsp;Sprott Gold Miners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>) and&nbsp;VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: GOLD shares are down 0.47% at $20.12 at the last check Wednesday.
Image via Shutterstock
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Barrick Sees Stable Gold Output In Q3, Prepares For Stronger Q4

Gold is back in the spotlight, and eyes are on the Fed. As the U.S. Federal Reserve prepares for what could be an aggressive rate cut, gold ETFs, especially the gold-bullion tracking ETFs such as the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) and the iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), are <a href="https://www.benzinga.com/topic/gold">riding the wave</a>.
Gold prices, already hovering near record highs, are inching closer to a breakthrough that could send the precious metal into uncharted territory.
With the dollar softening, the allure of gold as a safe haven has only intensified. Year-to-date, the GLD has surged nearly 25% and the IAU has gained about 25%, outpacing broader market indices like the S&amp;P 500 (which is up 18% in comparison). While physical gold-tracking ETFs have been surging, ETFs tracking gold miners haven&#8217;t been left behind.
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) is up about 27% YTD and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) is up 28% YTD.
<h1 class="wp-block-heading">Gold Shines on Dovish Fed, Weaker Dollar</h1>
Investors seem unfazed by today's slight lull in prices — understandable, given the anticipation of a possible 50-basis-point rate cut. The weakening dollar, compounded by the Fed&#8217;s dovish tone, is creating the perfect storm for gold to shine even brighter.
Behind the scenes, central banks and institutional buyers have been steadily piling into gold, boosting its momentum. Over the past three months, gold-tracking ETFs have drawn in billions in inflows, with retail investors now jumping on board, hoping to capitalize on the metal's momentum.
The net inflows into these ETFs signal that many see more upside ahead, especially as the Fed's anticipated rate cuts could push yields lower, further reducing the opportunity cost of holding gold.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/40862122/rate-cut-prospects-fuel-investor-risk-appetite-gold-hits-record-highs-harris-outperforms-trump-t">Rate-Cut Prospects Fuel Investor Risk Appetite, Gold Hits Record Highs, Harris Outperforms Trump: This Week In The Markets</a>
<h1 class="wp-block-heading">Gold Emerging As A Preferred Hedge</h1>
The macroeconomic backdrop has added extra fuel to the rally. From rising geopolitical tensions to global economic uncertainties, investors are seeking shelter, and gold is emerging as their preferred hedge. The metal's safe-haven appeal is being bolstered by fears of economic slowdowns, not just in the U.S. but globally. 
China's persistent economic struggles, for example, are only adding to the demand for gold, as investors diversify away from riskier assets.
<h1 class="wp-block-heading">What Could Temper Gold Bulls?</h1>
While a rate cut seems all but certain, there are still factors that could keep a lid on gold's upside. Any sign of a more conservative move by the Fed, such as a smaller-than-expected cut, could temper bullish enthusiasm. 
There's also the possibility that stronger-than-expected economic data could boost the dollar, muting gold's rally.
For now, though, the combination of central bank buying, ETF inflows and weakening dollar dynamics makes gold an attractive option for those looking to ride out market volatility.
With the potential for gold to push through its previous highs, investors are watching closely to see if the Fed's next move will give the precious metal the final nudge it needs.
Will gold soar to new heights, or will a more cautious Fed decision put the brakes on the rally? The only thing certain is that, for now, gold is shining brighter than ever.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40891378/ahead-of-fomc-meeting-paul-krugman-says-fed-rates-will-be-elevated-even-with-50-bps">Ahead Of FOMC Meeting Paul Krugman Says Fed Rates Will Be Elevated Even With 50 Bps Cut: &#8216;Argument For Incrementalism Is Very Weak&#8217;</a></li>
</ul>
Photo: Shutterstock

Gold ETFs Poised For Liftoff: Can The Fed's Rate Cut Propel Prices To New Heights?

The volatility that dominated markets in the early part of the month sharply reversed in the past week, driven by growing expectations of interest rate cuts that have bolstered investor risk appetite.
The latest batch of inflation statistics for August have given the green light for the Federal Reserve to proceed with an interest rate cut, which is highly likely to <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40812986/inflation-slows-to-2-5-in-august-lowest-rate-since-february-2021-core-index-remai">occur on Sept. 18.</a>
The remaining question concerns the size of the cut — whether it will be 25 basis points or 50 basis points — though market consensus and recent comments from Fed officials suggest the more conservative 25 basis points is the likely scenario.
Risk assets experienced a significant rebound, with the S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), recovering losses from the prior week and notching five straight days of gains. A similar picture emerged for the Nasdaq 100, which marked the best week since October 2023.
Treasury yields fell substantially and the dollar weakened, driving the price of gold to <a href="https://www.benzinga.com/markets/equities/24/09/40833654/gold-reaches-record-high-as-dollar-weakens-on-soft-producer-inflation-data-wall-street-eyes-four">fresh all-time highs.</a>
Additionally, the week saw the first televised debate between Vice President Kamala Harris and former President Donald Trump, with polls indicating Harris outperformed, <a href="https://www.benzinga.com/news/24/09/40808499/trump-vs-harris-debates-results-are-in-flash-poll-shows-resounding-majority-pick-vice-president-as-w">further widening her lead.</a>
<h1 class="wp-block-heading">You Might Have Missed…</h1>
<h1 class="wp-block-heading">Gold Miners Surge</h1>
Gold mining stocks, as monitored through the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), rallied this week, marking on Thursday their best one-day performance in six months as gold prices hit new record highs. A macro strategist highlighted striking similarities between today&#8217;s economic landscape <a href="https://www.benzinga.com/markets/equities/24/09/40838414/gold-miners-eye-best-1-day-rally-in-6-months-as-gold-hits-fresh-record-highs-todays-environment-">and the turbulent 1970s.</a>
<h1 class="wp-block-heading">VP Harris Boosts Solar</h1>
Solar stocks, tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), surged as Vice President Harris emerged as the clear winner in her debate with Trump, bolstering confidence in clean energy policies. Several leading renewable energy companies saw <a href="https://www.benzinga.com/markets/equities/24/09/40817317/solar-shares-climb-as-harris-gains-momentum-post-debate-against-trump-7-top-gainers-in-clean-ene">sharp gains this week.</a>
<h1 class="wp-block-heading">Small Cap Rally</h1>
In an exclusive interview with Benzinga, a Lazard small-cap expert forecasted a 30-50% rally in the Russell 2000, fueled by declining interest rates and strengthening economic conditions. With the Federal Reserve poised to begin a rate-cutting cycle, small-cap stocks are anticipated to outperform, closing the performance gap <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40794070/exclusive-lazard-small-cap-expert-predicts-30-50-russell-2000-rally-on-the-back-of-">with larger-cap counterparts.</a>
<h1 class="wp-block-heading">Autonomous Vehicle Growth</h1>
U.S. autonomous vehicle sales are projected to reach 230,000 units by 2034, following renewed progress at Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Waymo and General Motors Co.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) Cruise. Advancements in technology and regulatory approvals are expected to drive the industry forward, boosting consumer <a href="https://www.benzinga.com/news/24/09/40792410/us-autonomous-vehicle-sales-to-hit-230k-by-2034-after-progress-resumes-at-alphabets-waymo-gms-cruise">adoption and market penetration.</a> Read Next: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40861742/nasdaq-100-posts-biggest-weekly-rally-in-almost-a-year-as-fed-rate-cut-hopes-grow-top-"> • Nasdaq 100 Posts Biggest Weekly Rally In Almost A Year As Fed Rate Cut Hopes Grow: Top 7 Tech Stocks Of The Week</a> 
Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference on Oct. 9-10, 2024</a>,&nbsp;at the Chicago Marriott Downtown Magnificent Mile.
Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders.
<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Secure your spot and get your tickets today!</a>
Photo: Shutterstock

Global

GOOG

GOOGL

Rate-Cut Prospects Fuel Investor Risk Appetite, Gold Hits Record Highs, Harris Outperforms Trump: This Week In The Markets

Wall Street is experiencing a risk-on session Friday, with all sectors of the S&amp;P 500 index trading in the green as traders are energized by the now-imminent Federal Reserve rate cut, expected in <a href="https://www.benzinga.com/topic/interest-rates">less than a week.</a>
Both the S&amp;P 500 and Nasdaq 100 are on track for their fifth consecutive session of gains, pushing their weekly performances to 4% and 5.7%, respectively, and fully recouping last week&#8217;s losses.
Friday saw small-cap stocks build significant momentum, once again outperforming their large-cap counterparts amid the euphoria over the anticipated Fed rate cuts.
A large overnight bet by a trader on a 50-basis-point Fed rate cut sent the 2-year Treasury yield down by 7 basis points to 3.58%. This puts it on track to close at its lowest level since September 12, 2022. 
Market-implied probabilities for a half-point cut surged to as high as 43%, according to CME FedWatch data. 
Gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), continues to extend its historic highs, rising by 1%. Meanwhile, silver has roared ahead with a 3.3% gain, bringing its weekly performance to a stunning 16%, marking its best week since April 2020.
The rally in precious metals has been a boon for miners. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) has extended its weekly gains beyond 10%, its best performance since March 2023.
Oil prices are cooling off, slipping by 0.4% after Thursday&#8217;s sharp rally. In the cryptocurrency market, Bitcoin gained 2.2%, climbing to $59,400 and is on track to close at its highest level since late August.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,182.68</td>
<td>2.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,355.75</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,620.96</td>
<td>0.5%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,484.48</td>
<td>0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.4% higher to $561.37.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.7% to $414.78.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% higher to $474.18.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 2.4% to $216.84.</li>
<li>Both the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and the Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) outperformed, up 1.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) showed the smallest gains, up 0.3%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) fell over 9%, despite reporting better-than-expected results last quarter, as revenue guidance missed forecasts. </li>
<li>Boeing Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) dropped 3.8% after 33,000 union workers launched a strike on Friday, rejecting the company's proposed four-year contract amid ongoing challenges at the aircraft manufacturer.</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) gained nearly 2% after announcing an agreement with SpaceX to equip its fleet with Starlink&#8217;s high-speed Wi-Fi service.</li>
<li>Warner Bros Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) rose over 9%, on track for the strongest 2-day rally since 2008, after announcing a multi-year partnership with Charter Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NYSE">CHTR</a>). </li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) dropped more than 6% after Barclays downgraded the stock from &#8216;Equal-Weight&#8217; to &#8216;Underweight&#8217; and slashed the price target from $181 to $133 per share.</li>
</ul>
Read now: 
<ul>
<li><a href="https://www.benzinga.com/24/09/40857449/consumer-morale-hits-4-month-high-inflation-expectations-ease-partisan-gaps-in-sentiment-inched-up">Consumer Morale Hits 4-Month High, Inflation Expectations Ease: &#8216;Partisan Gaps In Sentiment Inched Up&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Bonds

ADBE

CHTR

GRMN

XLRE

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