124.86 -0.11 (-0.09%)
After hours: 4:52PM EDT
|Bid||124.83 x 500|
|Ask||124.92 x 200|
|Day's Range||124.69 - 125.57|
|52 Week Range||114.80 - 129.51|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.40%|
The safe haven metal took a hit as bond rates jumped in the fourth-quarter of 2016, but has been trending higher despite the rise in real interest rates. Gold bulls should take note of how gold prices have behaved in relation to long-term treasury bonds because they appear to be behaving differently than they have in the past. Gold spot futures declined 0.3% to about $1,318 per troy ounce.
After a strong start this week, crude oil pulled back on Tuesday. However, crude oil regained strength on April 25 and started Thursday on a stronger note. Crude oil is trading with strength above opening prices in the early hours amid the improved market sentiment.
Lucky Number 7 For the Dow Tomorrow? The Dow Jones Industrial Average (^DJI) could close down for the 6th day in a row, if it in fact closes negative on the day. We are currently on the ropes. This would be the longest down streak since March 2017 when the Dow closed down 8 days […] The post Market Exclusive End of Day Wrap Up April 25 appeared first on Market Exclusive.
The last few days have been choppy for precious metals. On Monday, April 23, gold futures for April expiration fell 1.1% and closed at $1,322.50 per ounce. Its RSI (relative strength index) level fell to 45, and its implied volatility was 11.2%. Silver slumped more than gold, falling a whopping 3.4% and ending the day at $16.60 per ounce. The RSI for silver was 54.6, and its implied volatility was 20.2%.
McDonald joins leading digital currency asset manager from SPDR Gold Trust, where she served as Chief Financial Officer and Treasurer NEW YORK , April 24, 2018 /PRNewswire/ -- Grayscale Investments, LLC ...
Iran's leaders seem to have contracted a case of economic idiocy. The news comes during a period of fast-deteriorating diplomatic relations between Tehran and Washington, which makes the currency denomination change look like a way for the Iranian leadership to snub the U.S. Iran's announcement seems as ridiculous as that of Venezuela's socialist leader Nicolas Maduro. In March that country decided to tackle the nation's wealth-withering hyperinflation by eliminating three zeros from the currency, the Bolivar.
Contrarians have yet to catch the break they've been waiting for. Some think the tide is turning in their favor on some asset classes.
Analyst estimates for gold miners’ (GDX) revenues can give us a good idea about their outlook on gold prices (GLD) as well as companies’ production growth. In this part of our series, we’ll assess analysts’ revenue expectations for gold companies in 1Q18 and beyond. Analysts expect Barrick Gold (ABX) to generate revenues of ~$1.84 billion in 1Q18.
Crude oil started this week on a weaker note but regained strength as the week progressed. After the mixed performance on Thursday, crude oil started Friday on a stable note and traded near three-year high price levels in the early hours.
The International Monetary Fund (or IMF) issued an update to its world economic outlook on the eve of IMF and World Bank meetings in Washington this week. The IMF warned that a major trade rift between the US and China could threaten global economic growth, which otherwise should rise solidly this year. The agency still maintained its forecast of 3.9% for global economic growth, which would be the fastest rate of growth since 2011.
Commodities rallied furiously Thursday morning, but leveled off by the afternoon -- a lesson for any investor to be wary of any asset class that rises too much, too fast. Brent crude gained 0.41% to $73 per barrel, West Texas Intermediate was roughly flat ending the day at around $68. Earlier in the session, Brent and WTI had both been up more than 1%.
Precious metals had another up day as gold futures for April expiration rose 0.48% on Friday, April 13, closing at $1,344.80 per ounce. Silver rose 1.1%, ending the day at $16.60 per ounce.
A classic technical analysis pattern is playing out on the gold ETF chart based on the monthly prices. From the standpoint of classic technical analysis – the kind that John J. Murphy elucidates in Technical Analysis of the Financial Markets – this indicates the potential for reversal. Gold ETF chart. Since this is the case, a decent technical analyst would check for other types of indications to look for confirmation or non-confirmation.
Gold ETF investors bought 173.4 tons of gold in 2017, 9% higher year-over-year (or YoY). In 2018 year-to-date (or YTD), the inflows in gold-backed ETFs have been strong. As of April 13, ETF holdings totaled 2,186 tons, which is 5.2% higher YoY.
On April 13, US crude oil (USO) May futures settled at $67.39 per barrel—the highest closing level for US crude oil active futures in more than three years. Oil prices have been climbing lately due to geopolitical tensions, which have increased worries of disruptions to supply, especially in the Middle East. New sanctions on Russia could further lift oil prices.
Geopolitical tensions, trade war fears, rate hikes, and market volatility have left investors restless. Geopolitical issues started when President Trump imposed tariffs on steel and aluminum imports. The issues increased due to a potential trade war between the United States and China. Next, President Trump targeted Russia. Sanctions have been imposed on several Russian entities, including aluminum giant RUSAL. Missile attacks on Syria further escalated geopolitical tensions.
Overall, gold has been rising in 2018, mainly due to the geopolitical tensions that keep increasing. First, we had fears of a US-China trade war, and now we have the Syrian chemical attack and subsequent air strikes. Another crucial element is the decline of the US dollar, which we’ll look at in the next part of this series.
Crude oil started this week on a weaker note by declining on Monday and breaking the five-day gaining streak. Crude oil started April 17 on a mixed note and traded near opening prices in the early hours.