|Day's Range||16.575 - 16.575|
On a per-share basis, the Chicago-based company said it had net income of 1 cent. Earnings, adjusted to account for discontinued operations and non-recurring gains, were less than 1 cent on a per-share ...
In this part of our series, we’ll look at the correlation between gold and four mining stocks: B2Gold (BTG), Royal Gold (RGLD), New Gold (NGD), and Newmont Mining (NEM). Mining stocks mostly move with gold prices, but not always. Among these four miners, Newmont has shown the highest correlation with gold this year, while B2Gold has seen a negative correlation.
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%.
Silver markets initially fell during the Tuesday session but found enough support near the $16.55 level to turn around and reach to higher levels. Silver continues to be very noisy, but that’s nothing new for anybody who’s ever traded this contract. I believe that we are close to the bottom of the overall consolidation, so I have more of an upward proclivity in the silver market than anything else right now.
Natural gas markets have rallied significantly on Tuesday, gaining over 1% as I record this. However, there is a significant amount of resistance above, especially near the $2.80 level. I think that the market will eventually find reasons to turn around, as we have been consolidating longer term, but a breakout could be a sudden short-term buying opportunity.
The Silver markets drifted a bit lower during the trading session on Monday, breaking below the $17.00 level. This is a market that does have plenty of support below though, so I think that value hunters will probably come back rather soon.
Investing.com – Gold prices tumbled pressured by easing geopolitical tensions and continued dollar strength on the back of the rising US bond yields.
The gold market witnessed a lot of price action in the past week because of the geopolitical concerns involving countries like the United States, China and Syria. The market on Friday cooled a bit down as gold prices reached down towards the $1330 level which is one of its support levels. The silver market continues to be noisy as it pulled back during the Friday’s session bit found buyers around the $17.20 level.
Investing.com – Gold prices were trading lower on Monday while the U.S. dollar rose amidst higher 10-year U.S. treasury yields.
Investing.com – Gold prices remained on course to snap a two-week winning streak as safe-haven demand faded amid easing geopolitical concerns, while continued dollar strength added to downside momentum.
The past one month has been good for precious metals with the exception of platinum. Gold, silver, and palladium have increased a whopping 3%, 6.4%, and 4.4%, respectively, during the last 30 trading days. Platinum has dropped about 0.97% during the same timeframe.
Gold futures suffered a second consecutive session of losses on Friday, as strength in the dollar and gains in Treasury yields sent prices for the metal lower for the week. For the week, gold futures fell by roughly 0.7%, the first such loss in three weeks. The contract saw a 3% gain for the week.
NEW YORK/LONDON (Reuters) - Gold prices eased on Friday and were on track to end the week lower as the dollar advanced on expectations of higher U.S. interest rates and market players grew a bit less worried about global political and security risks. Spot gold lost 0.6 percent at $1,336.96 per ounce by 1:36 p.m. EDT (1736 GMT), while U.S. gold June futures settled down $10.50, or 0.8 percent, at $1,338.30. Spot gold was headed for a weekly decline of nearly 1 percent.
Shipping industry hopes that so-called sulphur scrubbers are a quick-fix solution to compliance with drastic emissions reduction demanded by 2020 are somewhat misguided, one of the world's biggest manufacturers of the equipment told Reuters. The International Maritime Organization's (IMO) cut to the amount of sulphur the world's fleet can emit will have massive implications for shippers, oil refiners and even crude oil producers. Scrubbers that strip sulphur as fuels are burned allows ships to continue using high-sulphur fuel oil, and Finland's Wartsila Marine Solutions is taking in record orders as the 2020 deadline draws nearer.
In this part of our series, we’ll look at the correlation between gold and four mining stocks: Franco-Nevada (FNV), Coeur Mining (CDE), Kinross Gold (KGC), and Eldorado Gold (EGO). Mining stocks mostly move with gold prices, but not always. Among these four miners, Kinross has shown the highest correlation with gold this year, while Eldorado Gold has seen a negative correlation.
Usually, precious-metal-mining companies follow precious metals. Precious metals have risen over the past few days, supporting mining companies.
Unrest in Syria played a role in precious metals rising on Friday, April 13. The day before, Donald Trump discussed how to address a recent Syrian poison gas attack. He threatened missile strikes, which were eventually carried out, on Saturday.
The Silver markets had a quiet opening to the trading session on Wednesday, but then broke significant resistance, slicing through the $17 level rather rapidly.
Investing.com – Gold prices remained supported as a subdued dollar continued to underpinned upside in the precious metal despite easing geopolitical tensions.
Traders are expecting a rare April storage draw in this week’s EIA report. The data is expected to show a 23 billion cubic feet drawdown. This is unusual event is being caused by a winter that won’t go away in several key demand areas in the U.S.
Investing.com - Gold prices edged lower on Wednesday weighed down by gains in the dollar and improving risk appetite which dampened safe haven demand for bullion.
The gold market continued to be choppy during the Tuesday’s session as it pulled back towards the $1338 level to find buyers again. The silver prices were volatile during the Tuesday’s session initially moving towards the $16.50 level but found enough support just above the $16.55 level to continue moving higher as the traders got bullish. The US dollar will continue to influence this market and as USD is falling value, the silver market will trade higher.