Commentary – u. s. global investors


For the quarter ended December 31, 2016, the World Precious Minerals Fund fell 28.79 percent, underperforming the fund’s benchmark, the NYSE Arca Gold Miners Index, which fell 20.24 percent. Binary to english translator The Gold and Precious Metals declined 25.33 percent, underperforming its benchmark, the FTSE Gold Mines Index, which fell 19.06 percent. Hex editor windows 10 See complete fund performance here.

Past performance does not guarantee future results. Rate gbp to usd Current performance may be higher or lower than the performance data quoted. Javascript print command The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.

• In the final quarter of the year, with the impending rate hike looming as we approached yearend, gold prices started to fall similar to the yearend rate hike scenario of 2015. Binary music But the price correction did bring the natural buyers back to the market. 1 usd to krw After gold price discounts hit a record high of $100 an ounce in July, prices in India swung to a premium for the first time in October, reports Reuters, around $2 an ounce. Usd nzd chart Bloomberg reports that gold imports by India climbed 10 percent in November, to the highest of 2016.

• China’s gold withdrawals surged in November as prices fell too, according to the monthly report from the Shanghai Gold Exchange. Dollar euro exchange rate today The increase of 214.72 tonnes was a 40 percent rise over the October figure. The fx firm According to Bloomberg Intelligence, the five-year average gold premium is typically around $5.50 an ounce in China, but it soared to almost $40 an ounce, as falling prices invite “bargain buying” among the Chinese. Binary code translater This level of demand puts China on track to potentially maintain its position as the world’s largest gold consumer. Html code reader Rumors and reports indicate that international banks are having difficulties with their imports, as the People’s Bank of China is taking longer to approve each importing transactions. 1 usd to bgn The central bank may be trying to unofficially restrict gold imports to curb high capital outflows from China’s investors.

• Precious metal prices did not rally until the last week of the year, with gold rising above $1,150 per ounce, snapping a three-year losing streak with an 8.56 percent gain. Usd brl exchange rate As shown in the chart below, gold prices track very closely with real interest rates. Funny quotes about friendship What turned out to be a test of wills a couple days after the Federal Reserve’s interest rate hike in December, real rates jumped to 71 basis points, yet gold held on at $1,130 support, and real rates finally backed off below 50 basis points by yearend. Yahoo news canada At the start of the year, 71 basis points of positive yield had gold pinned down almost $90 lower.

• MarketWatch writer Nigam Arora believes the real reason behind the crash in gold price is India, not Donald Trump. Us futures market hours Citigroup analysts predicted that a Trump victory would push gold to $1,400, while a Hillary Clinton victory would send prices down to $1,250. Euro to pound exchange rate today However, India’s Prime Minister Narendra Modi directed that 500 and 1,000 rupee notes be banned; these represent 20 percent of the cash value in circulation and 80 percent of cash outstanding. Usd cad The impact of demonetization in India is still being felt in gold demand. Gender identity quiz Gold imports in India for 2016 were much lower than the annual average of 1,000 metric tons, with just over 600 tons this year. Aud usd graph Analysts anticipate that demand will be similarly low in 2017. Euro dollar exchange rate forecast 2016 Market observers in India say demand for gold is at rock bottom, despite the wedding season.

• According to Bloomberg, China said its consumption of non-ferrous metals will expand through the year 2020 at less than half the pace seen in the first five years of the decade. Hockey quotes The Ministry of Industry and Information Technology said the nation’s economy is “entering a new normal” in which demand growth for metals will slow to a medium-low pace from a high-speed one. Gold forecast 2017 Overseas, China reported that its gold reserves remained unchanged in November from a month earlier, at 59.24 million troy ounces. Exchange rate usd jpy According to Bloomberg, this marks only the second time the country has paused monthly buying after disclosing a 57 percent increase in holdings since 2009, as of June 2015.

• The Bloomberg Dollar Spot Index is heading for its best quarter since 2008, reports Bloomberg, on the back of Donald Trump’s election and the boost in interest rates by the Federal Reserve. Eur usd historical data download Gold prices tumbled for seven consecutive weeks only to rise in the last week of the year. Pre market dow jones futures Holdings in gold-backed ETFs contracted for 33 days before catching a lift on the second to last day of the year.

• Mark Mobius, executive chairman of Templeton Emerging Markets Group, says he thinks gold will gain as much as 15 percent through 2017, as the Fed increases rates slowly and the dollar remains subdued. Usd rate of exchange “The U.S. Binary code translator dollar is not that strong and may even decline,” said Mobius. Malaysian ringgit to usd Goldman has reiterated its view that any sell-off substantially below $1,250 an ounce should be seen as a buying opportunity. Gender quiz lgbt Gold demand may be spurred by weakness in China’s currency and concerns over the nation’s property market. Used book stores In addition, global inflation expectations have risen to the highest level since May 2015. Binary number translator Investors anticipate annual consumer inflation of 1.4 percent. Cnn futures markets Gold has traditionally been used as a hedge against inflation.

• Bank Credit Analyst (BCA) points out that realistically, it will take time for the incoming Trump administration to draft legislation that deploys fiscal stimulus–at least six months. Video editor linux mint It will then take time to see if it works. Usd to aud exchange rate Given this reality, BCA’s team notes that the U.S. Html to word converter dollar and real rates “have moved too far too fast, and likely will correct.” Where BCA differs from consensus is that the rising inflation expectations it measures in the forward markets are probably warranted for 2017. Machine learning artificial intelligence If growth materializes with stimulus, overlaid on a labor market that is close to full employment, the low inflation consensus could shift higher. Rm to usd This could depress real rates and provide a more attractive outlook for gold in 2017. Usd to inr today Portfolio manager Terence Kooyker at Blenheim says he is bullish on gold too. Binary arithmetic operations Kooyker says faster U.S. Usd inr forecast inflation and low interest rates will support gold, adding that “gold always performs best when nobody thinks you should own it.”

• U.S. Usd exchange rate history debt dynamics are set to turn positive for gold in 2017, writes ICBC Standard Bank in a recent note, highlighting that the costs of higher yields are being overlooked. Usd to vnd conversion The Congressional Budget Office (CBO) calculates that net interest payments on the $14 trillion of U.S. Cnn market futures debt will amount to around $250 billion in 2017 (around 1.4 percent of U.S. Binary language translator GDP). Usd to sar exchange rate “If we apply an 80 basis point increase to the CBO’s net interest forecasts and keep the other variables unchanged, then by 2026 the Treasury would be paying an additional $185 billion in interest annually, and interest will have increased to 3.3 percent of GDP,” the report continues. Aud usd live In the note, Tom Kendall stresses the key point is that the financing costs for the U.S. Usd account have already jumped, whereas the Trump administration’s policies may or may not have a positive impact on U.S. Ringgit to usd growth and the effects will be lagged. Cout binary Thus any disappointments on the growth front combined with higher interest costs and contentious negotiations on raising the debt ceiling in the first quarter, could well result in a more bullish scenario for gold.

• Two top gold forecasters see further losses for the yellow metal in 2017, reports Bloomberg. British pound to usd chart Both Oversea-Chinese Banking and ABN Amro see gold slipping to $1,100 an ounce by the end of next year. Gold forecast “From an investor point of view, there is little reason to own gold,” Georgette Boele, a currency and commodity analyst with ABN Amro, said. Usd to aud exchange rate history In a parallel vein to India’s demonetization, Goldcore reported that Citibank will make all Australian branches cashless, and UBS proposes that Australia eliminate $100 and $50 bills.

• Earlier this year, it was reported that California’s Public Employees’ Retirement System (Calpers), the largest in the U.S., earned only 0.6 percent on its investments last fiscal year, reports Financial Sense. Rate of british pound to us dollar In order to meet its long-term goal, however, the pension needs to be returning over 12 times that amount. Aud usd yahoo finance Calpers’ Chief Investment Officer Ted Eliopoulus writes that it is a significant policy issue and the system must average at least 7.5 percent a year to match its assumed rate of return or turn to taxpayers to make up the difference. Farm futures market prices Calpers has subsequently announced it is looking to pare back its global equity and private equity exposure by 5 percentage points in favor of a larger allocation to real assets, inflation and liquidity asset classes.

• Hedge fund manager Stanley Druckenmiller told CNBC that he sold all of his gold on the night of President-elect Trump’s victory, saying that “All the reasons I owned it for the last couple of years seen to be ending.” Druckenmiller stated that he now has a “large bet on economic growth.

The NYSE Arca Gold Miners Index is a modified market capitalization weighted index comprised of publicly traded companies involved primarily in the mining for gold and silver. Usd inr xoom The index benchmark value was 500.0 at the close of trading on December 20, 2002. Usd to korean won The FTSE Gold Mines Index Series encompasses all gold mining companies that have a sustainable and attributable gold production of at least 300,000 ounces a year, and that derive 75% or more of their revenue from mined gold. Fx rate cad to usd The Bloomberg Dollar Spot Index (BBDXY) tracks the performance of a basket of 10 leading global currencies versus the U.S. Pound exchange rate euro Dollar.

Bond funds are subject to interest-rate risk; their value declines as interest rates rise. Euronews online Tax-exempt income is federal income tax free. Binary numbers A portion of this income may be subject to state and local income taxes, and if applicable, may subject certain investors to the Alternative Minimum Tax as well. Usd cad historical exchange rate The Near-Term Tax Free Fund may invest up to 20% of its assets in securities that pay taxable interest. Stock market oil futures Income or fund distributions attributable to capital gains are usually subject to both state and federal income taxes. Usd to hkd The tax free funds may be exposed to risks related to a concentration of investments in a particular state or geographic area. Gbp vs usd exchange rate These investments present risks resulting from changes in economic conditions of the region or issuer.

Gold, precious metals, and precious minerals funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. Us futures exchanges The prices of gold, precious metals, and precious minerals are subject to substantial price fluctuations over short periods of time and may be affected by unpredicted international monetary and political policies. Usd to nzd exchange rate history We suggest investing no more than 5% to 10% of your portfolio in these sectors.

Foreign and emerging market investing involves special risks such as currency fluctuation and less public disclosure, as well as economic and political risk. Rm to usd converter By investing in a specific geographic region, a regional fund’s returns and share price may be more volatile than those of a less concentrated portfolio.

The Emerging Europe Fund invests more than 25% of its investments in companies principally engaged in the oil & gas or banking industries. Equity meaning in urdu The risk of concentrating investments in this group of industries will make the fund more susceptible to risk in these industries than funds which do not concentrate their investments in an industry and may make the fund’s performance more volatile.

Because the Global Resources Fund concentrates its investments in a specific industry, the fund may be subject to greater risks and fluctuations than a portfolio representing a broader range of industries.

Morningstar Ratings are based on risk-adjusted return. British pound to dollar exchange rate The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Shoe size conversion uk to us Past performance does not guarantee future results. Usa today sports lines For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating? based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Average exchange rate usd to cad 2015 The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Oil futures marketwatch (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)

Each of the mutual funds or services referred to in the U.S. British pound to usd history Global Investors, Inc. Usd to myr conversion website may be offered only to persons in the United States. Usd inr exchange rate history This website should not be considered a solicitation or offering of any investment product or service to investors residing outside the United States.

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