Short Volume Ratio = Short Volume / All Volume. Source of Short Volume data comes from
FinraMoving Average Convergence/Divergence oscillator (MACD) is one of the simplest and most effective momentum indicators available.
Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. According to Wilder, RSI is considered overbought when above 70 and oversold when below 30.
A number of exchange-traded funds (ETFs) are devoted exclusively to gold, a precious metal valued both for its industrial uses and its use as a store-of-value. The shiny metal is used in jewelry and is a key component in a number of electronics products.
Analysts are betting big on a gold rally in 2020. Play these ETFs to ride the wave.
Given the optimism and intense buying pressure on gold, investors have a long list of options to tap the metal's rally.
Gold ETFs had a nice spell this year as coronavirus fears triggered a safe-haven rally. Several other factors have also been favoring the metal.
Gold has fallen from its record highs earlier this year when inverted yield curves, fears of slowing global growth and the U.S.-China trade war spooked investors into seeking safe haven assets like precious metals. “The macro narrative has shifted from ‘recession or no recession’ to ‘no recession or cyclical upturn’ … Given the notable lack of physical support, the critical gold support into year-end, rests on both structural investor interest recommitting and CB [central banks] interest reenga...
Per a Kitco News report, “the Institute of Supply Management (ISM) said that its Non-Manufacturing Purchasing Managers Index rose to a reading of 54.7% in October, up from September’s 52.6%. “As soon as you saw those ISM numbers you had to get out of gold,” said Phillip Streible, senior market analyst at RJO Futures told Kitco News. For traders who want double the exposure to gold prices, there’s the ProShares Ultra Gold (UGL) .
From a technical perspective, chartists are still favoring gold despite the celebratory champagne bottles popping in the stock market. “A bullish U.S. stock market that is near record highs is limiting buying interest in the safe-haven metals,” wrote Jim Wyckoff of Kitco News. For traders who want double the exposure to gold prices, there’s the ProShares Ultra Gold (UGL) .
Gold ETFs may see some uptrend on decent Indian buying on Diwali. Though demand may fall year over year on higher prices, festivities could perk up near-term demand.
Citi believes gold prices may shoot up to $2,000 an ounce in the near term. Play these ETFs if you want to follow Citigroup.
Global investors poured in about $2.6 billion into gold-backed ETFs in July - the highest monthly investment since March 2013.