Fool's Gold [Seeking Alpha]
VAN ECK VECTORS GENERIC DRUGS ETF (GNRX)
US:NASDAQ Investor Relations:
vaneck.com/etf/equity/gnrx/overview
Company Research
Source: Seeking Alpha
Summary Gold has made several attempts at higher value recently. However, I see it as a fool's errand to chase gold here. Supposedly supportive data for gold is not as convincing to me as the market has perceived. In fact, I still see developments ahead that work against precious metals short-term. GLD Chart 5-Days at August 3, 2017 Gold has made several attempts at higher ground this week on supposedly poor U.S. economic data. However, when I took a look at the data, I saw something else. ISM's Manufacturing Index was reported down in June, posing a negative premise about the U.S. economy. Such news would work against the U.S. dollar and uplift gold and relative securities. However, the ISM index , at 56.3, was at its fourth highest level of the year. It fell from an extraordinary height marked in June, the top mark for the year. Furthermore, ISM's survey showed participants ecstatic about their sector of the economy and their businesses. See more on the iss
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