|Day's Range||13.920 - 14.105|
Market volatility drove investors towards gold last month, leaving the shares of miners more exposed to copper and silver in the dust.
As Gold hits $1200 handle, retail traders decided to stock up small volumes in order to make profit from recurring price cycles.
Gold prices moved southbound, tumbling down to support levels as the risk off trade gained traction allowing the dollar to gain strength. Gold prices tumbled down to support level which is seen as an upward sloping trend line that comes in near 1,198.
Based on the current price at 2735.25, the direction of the December E-mini S&P 500 Index into the close is likely to be determined by trader reaction to the major 50% level at 2748.50.
As Positive Catalysts for Gold Emerge, Which Miners May Benefit? South African miners have traditionally traded at a discount to their global counterparts, primarily due to South Africa’s laws, labor concerns, and infrastructure challenges. Among these miners, Sibanye Gold (SBGL) is trading at the highest EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 4.2x—a premium of 23.0% to the peer average.
Silver markets fell to kick off the session on Monday, reaching down towards the $14 level, an area that is significant support from both a large, round, psychological standpoint significance, and of course.
Sabina Gold & Silver Corp’s (TSE:SBB): Sabina Gold & Silver Corp., a precious metals company, engages in the acquisition, exploration, and development of mineral resource properties in Canada. With the Read More...
Based on the early price action, the support is $59.45 to $59.34. If the early strength generates enough upside momentum then the first target will be the steep downtrending Gann angle at $62.55. Since the main trend is down, look for sellers on the first test of this angle.
The company has a superior growth profile and higher diversification. Wheaton Precious Metals (WPM), which was previously known as Silver Wheaton (SLW), has a multiple of 14.1x. This multiple is similar to Royal Gold’s (RGLD) multiple of 14.4x.
Gold miners as a whole are looking inexpensive compared to broader equities. The average ratio of the NYSE Arca Gold Miners Index (GDX) and the S&P 500 Index (SPY) is 0.20 compared to the ten-year average of 0.68. While broader equities’ valuations have continued to increase, the valuations of gold stocks haven’t kept the pace, and the ratio has fallen.
The gold prices drifted further lower during the Friday’s session, reaching down to the $1200 level as USD again started to gain strength. The silver prices have broken significantly in the Friday’s session, reaching down to the $14 level, an area which is massively supportive. The crude oil prices have broken below the $60 level in the Friday’s session, continuing the negative streak.
Gold prices fell to their lowest in one month as the dollar strengthened amid expectations that the U.S. Federal Reserve is on track to tighten borrowing costs.
Investing.com - This week precious metals traders will be focusing on U.S. inflation data after the Federal Reserve indicated that it is on track to hike interest rates again in December and early next year.
Stock traders rally during the week, reaching towards the top of a shooting star from several weeks ago and the 61.8% Fibonacci retracement level from the downtrend. Because of that, I think that this next week is going to be crucial.
Silver markets fell during most of the week, and more importantly are testing the $14 level as a write this article. This is a very negative turn of events, and if we break through this level we could see a bit of a meltdown.
The crude oil markets fell hard during the week, reaching down to supportive levels on Friday. The market of course has been selling for some time, and now we have questions to ask about whether or not the support can hold.
The British pound rallied during most of the week, reaching towards the ¥150 level. However, we have pulled back significantly from there which of course makes sense considering that the ¥150 level is a major psychological barrier and of course this pair is somewhat risk sensitive.
Silver markets fell a bit during the trading session again on Friday, reaching towards the $14 level underneath. This is an area that is crucial, and I think the next couple of days will be very important.
Gold prices slumped on Friday as inflation data pointed to steady interest rate increases by the Federal Reserve. Comex gold futures for December delivery fell 1.17% to $1,211.90 a troy ounce as of 11:11 AM ET (16:11 GMT). The producer price index (PPI) increased 0.6% in October.
The British pound has fallen during most of the trading session on Friday as a bit of a “risk off” move has happened in equities around the world. Beyond that, we had found the ¥150 level to be a bit expensive, and it should offer a reasonable barrier.
Gold fell to its lowest in a month on Friday on a strong dollar, which gained after the U.S. Federal Reserve reaffirmed its monetary tightening stance, seen as a negative for non-yielding bullion. The Fed held interest rates steady on Thursday but is widely expected to raise interest rates in December - which would be its fourth hike this year - as it pointed to a healthy economy that was marred only by a dip in the growth of business investment. Spot gold was down 1 percent at $1,211.04 per ounce at 10:31 a.m. EST (1531 GMT), having touched its lowest since Oct. 11 at $1,208.83.
In 2008 Jorge Ganoza Durant was appointed CEO of Fortuna Silver Mines Inc (TSE:FVI). This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies Read More...
Commodity markets may conjure a freewheeling world of high rollers living hard and taking outsized risks, and there’s some historical truth in that image. Commodities affect our lives every day, in other words. How do I “invest” in commodities?
As dollar grows strong post us mid term election results and FOMC update, precious metals see sharp bearish decline.