|Bid||15.40 x 55600|
|Ask||15.41 x 27800|
|Day's Range||15.67 - 15.88|
|52 Week Range||14.44 - 17.59|
|PE Ratio (TTM)||3.59|
|Expense Ratio (net)||0.50%|
Investors on Wednesday jumped into gold and other precious metals, along with commodity-related ETFs, as markets continue to worry that the Fed will raise interest rates higher than initially anticipated on the back of the Labor Department's January consumer price index.
Gold futures decline Friday to suffer their biggest weekly loss in two months, pressured by a jump in the leading dollar index for the week.
Gold and silver had a great start to 2018, and they have risen about 3.5% and 1.9%, respectively, year-to-date (or YTD). This also reflected on the SPDR Gold Shares ETF (GLD) and the iShares Silver Funds ETF (SLV), which rose 3.6% and 2.6%, respectively, on a YTD basis. Gold dominates the precious metals because its price direction often causes the other metals to follow.
On Wednesday, Treasury Secretary Steven Mnuchin made some surprising comments that sent the U.S. dollar lower. This sent the already-hot SPDR Gold Trust ETF (NYSEARCA:GLD) rocketing, as GLD recorded a fresh 52-week high. As investors know, one catalyst to higher gold prices — and a higher GLD quote — is a lower dollar.
What Led to the Fall in Gold and Silver? Gold prices retreated from their four-month high of $1,340 and slipped 0.81% on Wednesday, January 17. Gold futures for January expiration ended the day at $1,338 per ounce.
On January 12, 2018, gold prices hit a four-month high of $1,338.20 per ounce, and it ended the day at $1,333.40. The implied volatility in gold was 8.9%. Most of these gains were due to the steady decline in the price of the dollar. The US dollar (UUP), tracked by the DXY Currency Index (or DXY) was down 1.0% on January 12.
Gold prices finish lower on Thursday, suffering their largest one-day decline in more than a month as traders grow wary after the precious metal’s rise to multi-month highs.
Precious metals witnessed yet another up day on Thursday, January 4. Gold futures for January expiration ended the day at $1,319.4 per ounce. The US dollar has played a significant role in the price fluctuations of precious metals over the past year.
The last trading day of 2017 witnessed an upswing in precious metal prices. Gold, silver, and platinum rose 0.94%, 1.4%, and 0.79%, respectively.
All four precious metals had an up day on Wednesday, December 27. Gold futures for January expiration rose 0.23% and closed at $1,287 per ounce.
All four precious metals had an up day on December 20, 2017. Gold increased 0.43% on the day and closed at $1,267.80 per ounce.