Chicago, Illinois (PRWEB) October 15, 2012
Gold investors have been haunted by poor October gold price performance over the last 11 years writes GoldETFs.biz in a new article. The article titled "October Producing Usual Gold ETF Declines" highlights gold price data going back to the year 2000. The data shows that October has historically been a negative month for gold prices and in fact, is one of the three worst months of the year for gold prices.
GoldETFs.biz finds that gold funds including the largest gold ETF, the SPDR Gold Trust, are off to a negative start 10 trading days into the month of October. Already the SPDR Gold ETF, which seeks to track the price of gold less fees, has lost over 1% of its value. Gold stock funds have lost even more as the largest gold stock ETF, the Market Vectors Gold Miners ETF, has already lost 3.8% for the month.
"Long term gold investors know that gold prices have historically dropped in the month of October," said Christian Magoon Publisher of GoldETFs.biz. "While the last few months have seen strong performance in gold prices and funds, it may have set up the month of October for profit taking. The good news for investors is that November has been the best month for gold prices over the last 10 plus years. Whether or not that holds true for 2012 will be interesting to watch."
Currently there are over 20 gold fund and ETN products listed in the United States. These products contain over $100 billion of investor assets. The SPDR Gold Trust contains the bulk of these assets with over $76 billion under management. The Market Vectors Gold Miners ETF contains $10 billion in assets. To view a all gold ETF products visit the GoldETFs.biz interactive gold ETF list.
GoldETFs.biz is a leading investor education site focused on all U.S. listed gold ETF and ETN products and the markets they track. It is published by ETF insider Christian Magoon. The site provides a complete gold ETF list, comparison tools and real time insight on gold through Twitter feeds. Besides the site, users can access GoldETFs.biz content on Facebook, YouTube and Google+. Follow @GoldETFsBiz on Twitter or become a fan on Facebook at /GoldETFsBiz.
About Christian Magoon
Christian Magoon is CEO of ETF consulting firm Magoon Capital. PAIR Digital, a division of the firm, publishes ETF related content including GoldETFs.biz. Having launched over 40 ETFs to date, Magoon is an ETF insider and innovator. His vision for GoldETFs.biz was to create a convenient, social and educational source of ETF information on the gold exchange traded fund segment. India fund site, IndiaETFs.com, is a sister property. Christian has been named an "ETF Pioneer" and was recently featured as "One of Five ETF Experts To Follow on Twitter." Follow @ChristianMagoon for regular investment and ETF insight.