5 January 2023: Wealth Product Ideas
| Fund Name (Ticker) | VanEck Gold Miners ETF (GDX) |
| Description | VanEck Gold Miners ETF (GDX) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE Arca Gold Miners Index (GDMNTR), which is intended to track the overall performance of companies involved in the gold mining industry. |
| Asset Class | Equity |
| 30-Day Average Volume (as of 4 Jan) | 26,385,322 |
| Net Assets of Fund (as of 30 Nov) | $12,034,660,000 |
| 12-Month Trailing Yield (as of 4 Jan) | 1.60% |
| P/E Ratio (as of 30 Nov) | 19.54 |
| P/B Ratio (as of 30 Nov) | 1.50 |
| Management Fees | 0.50% |
- BUY Entry – 29.0 Target – 31.0 Stop Loss – 28.0
- An inflationary recession has been increasingly a market consensus theme in 2023. The 2023 global economic growth projections were lowered several times during 2022. The latest forecast from IMF in December 2022 was 2.7%. The global economy lacks growth engines from the major economies such as the US, China, EU and Japan lack. Meanwhile, geopolitical risks are expected to remain high. Safe haven assets will be favoured this year.
- Gold mining companies are expected to be better off due to potential higher selling prices and lower operating costs. Oil prices have gradually trended downward as demand is expected to be lower, and mining companies will benefit from less expenditure on fuel costs accordingly.
Source: Bloomberg
| Fund Name (Ticker) | SPDR® Gold Shares (GLD) |
| Description | The investment objective of the Trust is for SPDR® Gold Shares (GLD) to reflect the performance of the price of gold bullion, less the Trust’s expenses. |
| Asset Class | Equity |
| 30-Day Average Volume (as of 4 Jan) | 4,808,676.00 |
| Net Assets of Fund (as of 3 Jan) | $171,488,000,000 |
| 12-Month Trailing Yield (as of 4 Jan) | N.A. |
| P/E Ratio | N.A. |
| P/B Ratio | N.A. |
| Management Fees | N.A. |
- BUY Entry – 170.0 Target – 175.0 Stop Loss – 172.5
- An inflationary recession has been increasingly a market consensus theme in 2023. The 2023 global economic growth projections were lowered several times during 2022. The latest forecast from IMF in December 2022 was 2.7%. The global economy lacks growth engines from the major economies such as the US, China, EU and Japan lack. Meanwhile, geopolitical risks are expected to remain high. Safe haven assets will be favoured this year.
Source: Bloomberg
