DB Gold Double Long ETN (NYSEARCA:DGP – Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 5,199 shares, a decline of 52.5% from the September 30th total of 10,940 shares. Based on an average daily trading volume, of 129,113 shares, the short-interest ratio is presently 0.0 days. Approximately 0.3% of the shares of the company are short sold.
Key Headlines Impacting DB Gold Double Long ETN
Here are the key news stories impacting DB Gold Double Long ETN this week:
- Neutral Sentiment: The Swiss National Bank reported a large third-quarter profit, including a 7.6 billion-franc contribution from its gold holdings. The result highlights gold’s importance as a reserve asset, but it does not directly improve DGP’s near-term outlook. Swiss central bank posts bumper $23bn profit as gold, foreign assets soar
- Negative Sentiment: Gold fell below $4,000 as hotter inflation data, stronger economic growth and elevated real yields increased expectations that the Federal Reserve could raise interest rates again. Higher yields raise the opportunity cost of holding non-yielding gold. Gold and Silver Price Forecast: Hot PCE Lifts Hike Odds
- Negative Sentiment: Multiple technical reports describe a bearish reversal, with sellers breaking or threatening key support around $4,000, $3,950 and $3,900. A sustained break could expose the $3,886–$3,708 retracement zone, increasing downside risk for the leveraged DGP ETN. Gold Price Forecast: Mass Liquidation Puts $3,886–$3,708 in Play
- Negative Sentiment: Gold and silver remained pressured after the Federal Reserve held rates but left a potential December hike in play. Analysts also cited rising Treasury yields, persistent inflation above the Fed’s target and weakening momentum as reasons for additional downside risk. Gold Declines, Weighed by Tighter Monetary Policy Expectations
DB Gold Double Long ETN Stock Performance
Shares of DGP stock traded down $6.00 during trading on Friday, hitting $120.10. The company’s stock had a trading volume of 13,441 shares, compared to its average volume of 145,462. The business has a fifty day moving average of $149.08 and a 200-day moving average of $168.70. DB Gold Double Long ETN has a 52 week low of $119.69 and a 52 week high of $252.75.
About DB Gold Double Long ETN
The DB Gold Double Long Exchange Traded Notes (DGP) is an exchange-traded fund that mostly invests in gold commodities. The fund provides 2x the daily performance of futures contracts relating to gold. The notes index selects contracts based on the shape of the futures curve to minimize contango. DGP was launched on Feb 27, 2008 and is issued by DB.
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