120.21 -0.13 (-0.11%)
Pre-Market: 6:09AM EDT
|Bid||0.00 x 1000|
|Ask||0.00 x 1000|
|Day's Range||120.10 - 120.40|
|52 Week Range||114.80 - 129.51|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.40%|
Gold futures edged higher on Friday, registered a decline for the week as investors focused on expectations for higher interest rates ahead, a headwind for metals, and the U.S. dollar, which has strengthened over the past month. Gold was on track for a month-to-date fall of 2.6%.
The CFTC (Commodity Futures Trading Commission) reports the position of major players in the futures market through its COT (Commitment of Traders) report. This report specifies the positioning of various players in the market. It is released every Friday and shows the open interest recorded on the previous Tuesday.
The past few weeks have been surprisingly painful for fans and followers of gold stocks. The SPDR Gold Shares Fund (NYSEARCA:GLD), an ETF that serves as a broad proxy for the overall gold market, has lost more than 6% of its value since peaking in March. There may be an opportunity tucked away in the unlikely, inexplicable weakness in gold stocks.
Is It Time to Turn Bullish on Gold after Its Recent Weakness? Physical gold demand, especially from India and China, traditionally supports gold prices (GLD) when prices are weakening. Gold consumers in these markets are price conscious and usually load up on gold when prices are falling.
After a strong performance on Wednesday, crude oil opened lower on Thursday and closed the day with losses. However, crude oil started Friday on a stronger note. Crude oil was trading with strength at one-week high price levels in the early hours.
While J.P. Morgan (JPM) lowered its price forecasts for gold, it remains bullish on the metal. It believes that gold prices could leave their tight trading ranges behind and march toward $1,400 per ounce by the third quarter.
The SPDR Gold Trust ETF (GLD), which tracks physical gold prices, has lost 2.7% of its value YTD (year-to-date) through June 20. June is the third consecutive month of losses for the precious metal.
Gold prices marked a third straight session decline on Thursday to carve out another low for 2018 as a leading dollar index—lifted in a rising interest-rate environment—tapped its highest level since last summer. Among exchange-traded funds, the SPDR Gold Trust (GLD) was nearly flat, while iShares Silver Trust (SLV) added 0.2%. The VanEck Vectors Gold Miners (GDX) rose 0.3%.
After a brief pullback on Tuesday, crude oil regained strength on Wednesday and closed the day higher. Maintaining the strength, crude oil opened higher on June 21. However, crude oil lost its strength and pulled back in the early hours.
21st Century Fox is Going to Disney Land! 21st Century Fox (NASDAQ:FOXA) has accepted an offer from Disney (NYSE:DIS) to acquire its entertainment assets in an all stock deal valued at $71.3 billion at $48 a share over its previous offer of $38. Unless Comcast (NASDAQ:CMCSA) can come up with a higher offer, it looks […] The post Market Morning: Fox Goes to Disney Land, OPEC Meeting Tomorrow appeared first on Market Exclusive.
Crude oil started this week on a stronger note by rising on Monday. However, crude oil pulled back on Tuesday. Crude oil started June 20 on a stable note and moved higher in the early hours.
Over the past year or so, we’ve seen an increasing number of industry big names lending their names to ETFs.
Consumer prices in the United States grew 2.8% year over year in May 2018, above market expectations of 2.7%. It also marked the highest inflation rate since February 2012. Higher cost of gasoline and shelter led to the estimate beat.
Gold futures fell Tuesday to settle near their lowest levels of the year, as concerns over a potential trade war prompted more investors to seek refuge in the U.S. dollar, lifting a benchmark index for the greenback to its highest levels of 2018. Gold bucked what is typically a haven role for the precious metal when markets are roiled. “Gold has descended into the abyss despite intensifying trade tensions rattling financial markets and leaving investors on edge,” said Lukman Otunuga, research analyst at FXTM.
Five Gold Stocks Analysts Love—and Five They Don'tGold mining companies Recently, gold prices (GLD) have resumed their downward trend, mainly due to the US dollar’s strength. The SPDR Gold Shares ETF (GLD) has fallen 0.2% as of June 14. The VanEck Vectors Gold Miners ETF (GDX) has had a worse showing at -2.5% YTD (year-to-date). Among senior miners, only Goldcorp (GG) has gained in the double digits, rising 12.1% YTD. Newmont Mining (NEM) is the only other senior gold miner to have gained positively YTD in 2018. Barrick Gold (ABX) and Kinross Gold (KGC), on the other hand, have fallen 9. ...
After declining for four consecutive trading weeks, crude oil started this week on a stronger note by rising on Monday. Carrying forward the strength, crude oil opened higher on June 19. However, crude oil lost strength and was trading with mixed sentiment in the early hours amid the strong dollar.
Although able to rally off the morning lows, U.S. equities were under pressure Friday on renewed concerns over a potential trade war with China. Early Monday, stock market futures are down across the board with the Dow Jones Industrial Average set to open 212 points lower. On that note, here are our top stock trades going into this week before the bell Monday.Top Stock Trades for Monday: Adobe (ADBE)
Crude oil declined last week and clocked the fourth consecutive weekly decline. Maintaining the weakness, crude oil opened Monday on a weaker note and was trading with mixed sentiment in the early hours.
The Federal Reserve raised interest rates Wednesday and indicated that it's likely to increase rates twice more by year end. In a statement, the Fed noted that the economy was growing at a "solid rate," prompting the action--and expected further hikes--to bring interest rates back up to more normal levels. Will the bond market, which has experienced declining yields but enormous price appreciation over the past three decades, reverse course?
Investors often assume there must be a news catalyst or a "reason" for price movement when a stock, commodity, or index breaks out and declines significantly. While that is often true, sometimes breakouts can be driven merely by a feedback loop between sellers.
Crude oil closed at two-week high price levels on Thursday and clocked the fourth consecutive daily gain. On Friday, crude oil opened the day higher and pulled back in the early hours.