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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (25236)	1/30/2017 8:17:46 AM
From: Goose94	Respond to of 203330

Sunken British warship with £1 BILLION in gold to be raised from the ocean 250 years after battle mirror.co.uk

To: Goose94 who wrote (25236)	1/30/2017 9:17:07 AM
From: Goose94	Read Replies (1) \| Respond to of 203330

Gold: The World Gold Council and State Street Global Advisors (SSGA) are launching a new gold-backed exchange-traded fund that reduces the impact of the U.S. dollar on gold investing. Representatives of the two organizations say that gold, to the detriment of investors, has been at the mercy of the dollar for too long. In a press release Monday, the WGC and State Street Global Advisors announced the trading of the SPDR Long Dollar Gold Trust (NYSE ARCA: GLDW). The goal of the new ETF is to give investors access to the gold market while limiting the exposure and impact of the U.S. dollar. While being backed by physical gold, the new ETF also has exposure to a basket of non-US currencies: euro, Japanese yen, British pound, Canadian Dollar, Swedish krona and Swiss franc. The WGC noted that from 2013 to 2016, in an environment of expanding U.S. dollar strength, gold prices dropped 5%, falling from $1,205 an ounce to $1,146 an ounce in the three-year period. However, during that same time, gold prices in euro terms shot up 25%, increasing from €873 an ounce to €1,096 an ounce. “By lessening the dollar’s potential impact on gold, GLDW seeks to provide investors the opportunity to realize the potential benefits of using gold as a strategic portfolio diversifier, while offering the ability to buffer against the potential adverse effects of a strong dollar on gold,” said Nick Good, co-head of the Global SPDR business at State Street Global Advisors, in the press release. The fund, while being backed by physical gold, the new ETF also has exposure to a basket of non-US currencies: euro, Japanese yen, British pound, Canadian Dollar, Swedish krona and Swiss franc. Performance of the U.S. dollar against this currency basket is expected to increase or decrease the amount of gold held by GLDW.