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Search resuls for: "George Milling"


4 mentions found


☆ Physical gold offers more protection than mining stocks, says State Street’s George Milling-Stanley
  + stars: | 2024-04-11 | by ( Josephine Rozzelle | ) www.cnbc.com   time to read: +1 min
Investors looking to weather a volatile market may want to opt for physical gold over gold stocks. That's according to George Milling-Stanley, one of the world's experts in gold and the chief gold strategist at State Street Global Advisors. "One of the reasons I own gold bar(s) is that I believe it offers me some protection against potential weakness in the equity market," Milling-Stanley told CNBC's "ETF Edge" this week. "When the equity market goes down, gold mining stocks remember that they're equities, and they tend to go down with the general level of the equity market. Milling-Stanley's firm runs two exchange-traded funds that track the performance of the spot price of gold: the SPDR Gold Shares ETF (GLD) and SPDR Gold MiniShares Trust (GLDM).
Persons: George Milling, Stanley, CNBC's, they're, GLDM, — Organizations: State Street Global Advisors, MiniShares, Milling
☆ State Street's George Milling-Stanley on the booming trade in gold ETFs
  + stars: | 2024-04-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailState Street's George Milling-Stanley on the booming trade in gold ETFsGeorge Milling-Stanley, chief gold strategist at State Street Global Advisors, sits down with CNBC's Bob Pisani on the 'Halftime Report: ETF Edge' to discuss where gold is headed from here, who's buying into the commodity, and more.
Persons: George Milling, Stanley, CNBC's Bob Pisani Organizations: George Milling, State Street Global Advisors
☆ Gold mining ETFs fail to keep pace with benchmark bullion fund
  + stars: | 2023-11-07 | by ( Suzanne Mcgee | ) www.reuters.com   time to read: +3 min
The SPDR Gold Shares ETF (GLD.P), which tracks the price of gold, has rallied 9.82% this year, driven by concerns about inflation and economic growth as well as geopolitical turbulence. Yet those gains have not been reflected in the share prices of gold miners: the iShares MSCI Global Gold Miners ETF (RING.O) and the VanEck Gold Miners ETF (GDX.AX), which track the shares of gold producers, are up only 2.28% and 1.7% respectively. "Gold prices can only help so much, if you can't produce the gold in the first place," said Islam. Even Barrick Gold, which reported a 3% gain in gold production in the third quarter, said overall output in 2023 won't meet expectations. "Investors seem very wary of stocks as a whole, and gold miners have been tracking that rather than what's happening in gold itself," said Casanova.
Persons: Shannon Stapleton, Imaru Casanova, Casanova, Roxanna Islam, George Milling, Stanley, Suzanne McGee, Ira Iosebashvili Organizations: United States West Point Mint, REUTERS, Gold Miners, World Gold, Gold, Newmont Corp, State Street Global Advisors, Barrick, Thomson Locations: West Point , New York, Mexico
☆ Why substituting cryptocurrency for gold exposure may be a costly mistake
  + stars: | 2023-07-29 | by ( Lina Hassen | ) www.cnbc.com   time to read: +2 min
State Street Global Advisors' George Milling-Stanley, whose firm runs the world's largest gold exchange-traded fund, believes cryptocurrency is no substitute for the real thing due its vulnerability to big losses. Milling-Stanley's firm is behind SPDR Gold Shares , the world's largest physically backed gold ETF. Milling-Stanley believes gold's 6,000-year history as a monetary asset serves as a significant sample basis to understand the benefits of investing in gold. But Milling-Stanley believes the economic backdrop bodes well for gold — recession or not. It's known as the world's largest consumer of gold jewelry behind India, according to the World Gold Council.
Persons: George Milling, Stanley, cryptocurrency, CNBC's, gold's, It's, Gold Organizations: Street Global Advisors, World Gold, it's Locations: China, India, It's Vietnam, it's Indonesia, it's Thailand, Korea
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