Why is HGU not really tracking x2 gold price as advertised? From yesterday (Jan 2 2019) to today, gold went up $10 USD per onze but HGU is down?!
SJ75
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@Mak.tafazoli, this tracks the GDX and gold majors more then anything. It is a 2x ETF so it gets volatile especially while we are challenging resistance. Remember that miners are the torque to gold and that’s how you profit on big gold moves as we’ve seen since November.
HBU is a gold bullion ETF in Canada that tracks the actual gold price and that might be a better alternative for you.
Today the general market is selling off so you’re seeing some overall market weakness which is affecting gold miners. Short term problem.
@SJ75, thanks for the prompt reply and explanation. I didn't know about HBU.
SJ75
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@Mak.tafazoli, best wishes - HGU is a beast when it starts moving. I am long with well over 10k shares. So I try to give it a bit of room in both directions. Sometimes I add a gold overlay to my chart so that I don’t worry about the dips and doodles. Cheers!