|Day's Range||851.80 - 863.10|
Spot gold was unchanged at $1,321.74 per ounce as of 0123 GMT, after touching its highest since Feb. 28 at $1,324.33 in the previous session. U.S. gold futures were also down 0.1 percent at $1,320.70 an ounce. Asian shares were shaky on Tuesday after U.S. Treasury yields sank to their lowest since late 2017, further below short-term interest rates and adding to fears of a U.S. recession.
Platinum miner Lonmin will face protesters at its annual general meeting in London today as its long-drawn out takeover by South African peer Sibanye-Stillwater rumbles on.
Palladium jumped to an all-time high of $1,567.50 an ounce, and was last up 0.2 percent at $1,561.70 at 1258 GMT. Russia's trade and industry ministry said it is considering a ban on the export of precious metals scrap and tailings between May 1 and Oct. 31 to promote domestic refining of the materials. "The supply outlook remains tight... and that is providing enough confidence for the positive momentum to be maintained," Saxo Bank analyst Ole Hansen said, adding that the next key technical level from here is at $1,600 per ounce.
The world’s top platinum supplier is handing over 270 hectares (667 acres) of land to people living in Rustenburg, about 140 kilometers (86 miles) northwest of Johannesburg. The move comes as the African National Congress plans to change the constitution to make it easier to seize land without paying for it. The ANC says the amendments are needed to address racially skewed ownership patterns dating back to colonialism and white-minority rule.
It may be a royal pain to get to, but TEFAF (The European Fine Art Fair) in Maastricht, the Netherlands, is worth the trip. This year’s fair (16 – 24 March) is the 32nd such event, and has become the most respected exhibition of art, antiques and collectibles in the world (apparently the private jet landings at the local airport during the fair are sight enough).
Nissan and the housing organization Habitat for Humanity have gone to work together and created this Ultimate Work Titan concept truck. Based on a Titan XD Diesel Crew Cab, the truck is an off-road capable mobile office for construction work. Having interviewed construction site supervisors and volunteers across USA, Nissan and Habitat came up with these basic requirements for their joint venture concept: First of all, the truck needed off-road capability, without question.
Palladium prices skyrocketed to new record levels as strike jitters in South Africa added to a tense market engulfed by a sustained supply deficit.
Following some forgettable performances last year, commodities are rebounding in 2019 and precious metals funds are among the leaders. One precious metals ETF that provides basket exposure to multiple precious metals, including gold and silver, is higher by nearly 6% year-to-date.Depending on an investor's objectives and risk tolerances commodities can represent up to 5% of well-balanced portfolios. Precious metals funds, be they ETFs or mutual funds, make accessing the asset class more efficient and, in many cases, less expensive.Additional benefits of precious metals funds, such as the SPDR Gold Shares (NYSEARCA:GLD) and the iShares Silver Trust (NYSEARCA:SLV), include the ability to fight inflation and take advantage of a weaker dollar. A drawback to investing in precious funds where the underlying asset is the metal itself is the fact that these funds do not pay dividends or coupon payments, meaning investors are entirely dependent on capital appreciation.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 9 High-Growth Stocks to Buy Now for Monster Returns For investors considering precious metals funds, here are some intriguing ideas to consider. Invesco DB Precious Metals Fund (DBP)Expense ratio: 0.78% per year, or $78 on a $10,000 investment.The Invesco DB Precious Metals Fund (NYSEARCA:DBP) is an index-based precious metals fund, meaning it does not directly hold positions in gold, silver or other metals. Rather, this 12-year old fund follows the DBIQ Optimum Yield Precious Metals Index Excess Return Index.DBP "is designed for investors who want a cost-effective and convenient way to invest in commodity futures. The Index is a rules-based index composed of futures contracts on two of the most important precious metals -- gold and silver," according to Invesco.Gold and silver are the only metals represented in DBP, which makes sense for a futures-based strategy because those are the two most heavily traded precious metals futures. The rub with DBP and other futures-based funds is that these strategies usually carry high expense ratios and that is the case with this precious metals fund. DBP is up almost 4% this year. Aberdeen Standard Physical Precious Metal Basket Shares (GLTR)Expense ratio: 0.60% per year, or $60 on a $10,000 investment.The Aberdeen Standard Physical Precious Metal Basket Shares (NYSEARCA:GLTR) is the ideal precious metals fund for the investor that wants in on this asset but cannot decide on a single metal to invest in.GLTR solves that conundrum by featuring physical exposure to gold, silver, palladium and platinum. At the end of last year, GLTR allocated over 80% of its weight to gold and silver, but its exposure to palladium and platinum make for a more diverse option than the aforementioned DBP. * 3 Gold Stocks Percolating Right Now GLTR has been getting a tailwind from high-flying palladium over the past 12 months, but at times when gold is the only precious metal trading higher, investors should expect this precious metals fund to lag dedicated gold funds. SPDR Long Dollar Gold Trust (GLDW)Expense ratio: 0.50% per year, or $50 on a $10,000 investment.One of the biggest risks to precious metals funds and investors owning those funds is the dollar. Precious metals, like all commodities, are denominated in dollars, meaning that when the dollar is strong, commodities typically falter.The SPDR Long Dollar Gold Trust (NYSEARCA:GLDW) is one of the first ETFs to address that scenario. GLDW follows the Solactive GLD Long USD Gold Index. That benchmark "is designed to represent the daily performance of a long position in physical gold and a short position in a basket comprised of each of the Reference Currencies," according to State Street.GLDW's reference currencies are the currencies are the euro, Japanese yen, British pound sterling, Canadian dollar, Swedish krona and Swiss franc.This precious metals fund is doing its job. Over the past year, the dollar has been mostly stronger, sending the aforementioned GLD lower by almost 2%, but GLDW is higher 10.80% over that period. GraniteShares Gold Trust (BAR)Expense ratio: 0.1749% per year, or $17.49 on a $10,000 investment.As the funds highlighted above confirm, precious metals funds carry higher expense ratios than many equity or fixed income ETFs. However, the battle for lower fees is making its way to the commodities space and the GraniteShares Gold Trust (NYSEARCA:BAR) is leading that charge.Since debuting in August, BAR has lowered its expense ratio multiple times in an effort to become the least expensive gold ETF on the market, an attractive trait for buy-and-hold investors. With an expense ratio of 0.1749% per year, BAR is cheaper than rivals such as GLD and the iShares Gold Trust (NYSEARCA:IAU). * 7 Healthy Dividend Stocks to Buy for Extra Stability BAR's efforts to lure cost-conscious investors are proving successful. The precious metals fund has $467.64 million in assets under management, $132.50 million of which have flowed into the fund this year. VanEck Merk Gold Trust (OUNZ)Expense ratio: 0.40% per year, or $40 on a $10,000 investment.Critics of traditional gold ETFs and precious metals funds assert that these funds are really just paper investments because when you depart the funds, you receive cash as you would with any other investment. The VanEck Merk Gold Trust (NYSEARCA:OUNZ) takes a different approach.OUNZ "provides investors with a convenient and cost-efficient way to buy and hold gold through an exchange traded product with the option to take physical delivery of gold," according to VanEck.OUNZ is not a gimmick. The fund actually has delivered physical gold to investors in its almost five years on the market.Todd Shriber owns shares of IAU. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 6 Hot Stocks For Goldman Sachs' New Investing Strategy * 10 Smart Money Stocks to Buy Now * The 10 Best Cheap Stocks to Buy Right Now Compare Brokers The post 5 Precious Metals Funds for Buy-And-Hold Investors appeared first on InvestorPlace.
"Palladium's deficit is likely to persist for at least the next couple of years and there's limited opportunity to ease the market's tightness," said Suki Cooper, precious metals analyst at Standard Chartered Bank. Leading autocatalyst manufacturer Johnson Matthey said last week that a persistent supply deficit in the palladium market was likely to widen this year. Unlike platinum, palladium has also benefited from a switch to petrol engines and expectations for growth in hybrid electric vehicles, which tend to be partly gasoline-powered, helping cushion the metal from falling global car sales.
Spot palladium, which traded as high as $1,502 per ounce, was up 1.4 percent at $1,499.50 at 1307 GMT. "There is a lack of supply in the market and demand is very high," said Afshin Nabavi, senior vice president at MKS SA, citing low supplies from major producers Russia and South Africa. The supply deficit is likely to widen this year as stricter emissions standards increase demand for catalytic converters, autocatalyst manufacturer Johnson Matthey said last week.
South Africa's Sibanye-Stillwater expects its full-year attributable loss to be more than $100 million greater than guidance in a trading statement last week, it said on Wednesday, after a review of tax changes in the United States. The gold and platinum miner's shares fell into negative territory on the news that it expects the loss to reach 2.5 billion rand ($177 million) rather than 1 billion rand because of the tax changes. "A further review of the effects... has resulted in an amendment to deferred tax," it said in a stock exchange announcement.
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Spot palladium was 1.9 percent higher at $1,484 per ounce by 2:12 p.m. EST (1912 GMT), having earlier soared to an all-time high of $1,491. A sustained deficit in supply was likely to widen this year as stricter emissions standards increase demand for catalytic converters, Britain-based autocatalyst manufacturer Johnson Matthey said last week. Adding to an already strained supply scenario for palladium, was the likelihood of an improvement in demand from the auto sector, given the expectations of a U.S.-China trade deal materializing, said Bart Melek, head of commodity strategies at TD Securities in Toronto.
Zimbabwe's mines minister on Monday said the central bank governor would soon introduce a monetary policy tool to alleviate foreign currency shortages that have affected mining companies. Zimbabwe is hoping its mining sector could help drive a moribund economy buffeted by high inflation and unemployment, as new President Emmerson Mnangagwa looks to woo investors following a soft coup last year which usurped former president Robert Mugabe. "One of the current challenges which the industry is facing relates to foreign currency retention... The governor will over the next week or two come up with monetary policy intervention which would address that issue," minister Winston Chitando said in a presentation on the sidelines of a mining conference.
If you're looking for a diversified precious metals play, Sibanye-Stillwater's differentiated portfolio is interesting, but is it worth investing in?
Spot gold was little changed at $1,321.04 per ounce at 1244 GMT, not far from Thursday's peak of $1,326.30, its highest since April 26. U.S. gold futures rose 0.1 percent to $1,320.10. U.S. President Donald Trump said on Thursday he would meet with Chinese President Xi Jinping soon to try to seal a comprehensive trade deal.
(Reuters) - Gold prices were steady on Thursday, having earlier hit their highest in nine months, after the U.S. Federal Reserve kept interest rates steady and said it would be patient on further hikes, keeping bullion on track for a fourth straight monthly gain.
South Africa's largest labour union group, with more than a million and a half members, said on Wednesday it would stage a nationwide strike on Feb. 13 over large-scale layoffs at ailing state-owned firms and at private companies. The decision by the Congress of South African Trade Unions (Cosatu) poses a major threat to President Cyril Ramaphosa's plan to revive the economy by cutting the government's wage bill and reforming state firms that are drowning in debt and plagued by corruption. The protests also come just months ahead of national elections, where Ramaphosa's governing African National Congress (ANC) is likely to struggle to maintain its large electoral majority amid stubbornly high unemployment and rising poverty.
With fewer places for traders to find stability, it seems as though the gold market could be the segment of choice over the weeks and months ahead.