|Bid||0.00 x 1000|
|Ask||0.00 x 1000|
|Day's Range||120.10 - 120.39|
|52 Week Range||114.80 - 129.51|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.40%|
Gold futures edged higher on Friday, registered a decline for the week as investors focused on expectations for higher interest rates ahead, a headwind for metals, and the U.S. dollar, which has strengthened over the past month. Gold was on track for a month-to-date fall of 2.6%.
The CFTC (Commodity Futures Trading Commission) reports the position of major players in the futures market through its COT (Commitment of Traders) report. This report specifies the positioning of various players in the market. It is released every Friday and shows the open interest recorded on the previous Tuesday.
Is It Time to Turn Bullish on Gold after Its Recent Weakness? Physical gold demand, especially from India and China, traditionally supports gold prices (GLD) when prices are weakening. Gold consumers in these markets are price conscious and usually load up on gold when prices are falling.
After a strong performance on Wednesday, crude oil opened lower on Thursday and closed the day with losses. However, crude oil started Friday on a stronger note. Crude oil was trading with strength at one-week high price levels in the early hours.
While J.P. Morgan (JPM) lowered its price forecasts for gold, it remains bullish on the metal. It believes that gold prices could leave their tight trading ranges behind and march toward $1,400 per ounce by the third quarter.
The SPDR Gold Trust ETF (GLD), which tracks physical gold prices, has lost 2.7% of its value YTD (year-to-date) through June 20. June is the third consecutive month of losses for the precious metal.
Gold prices marked a third straight session decline on Thursday to carve out another low for 2018 as a leading dollar index—lifted in a rising interest-rate environment—tapped its highest level since last summer. Among exchange-traded funds, the SPDR Gold Trust (GLD) was nearly flat, while iShares Silver Trust (SLV) added 0.2%. The VanEck Vectors Gold Miners (GDX) rose 0.3%.
After a brief pullback on Tuesday, crude oil regained strength on Wednesday and closed the day higher. Maintaining the strength, crude oil opened higher on June 21. However, crude oil lost its strength and pulled back in the early hours.
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Crude oil started this week on a stronger note by rising on Monday. However, crude oil pulled back on Tuesday. Crude oil started June 20 on a stable note and moved higher in the early hours.
Gold futures fell Tuesday to settle near their lowest levels of the year, as concerns over a potential trade war prompted more investors to seek refuge in the U.S. dollar, lifting a benchmark index for the greenback to its highest levels of 2018. Gold bucked what is typically a haven role for the precious metal when markets are roiled. “Gold has descended into the abyss despite intensifying trade tensions rattling financial markets and leaving investors on edge,” said Lukman Otunuga, research analyst at FXTM.
Five Gold Stocks Analysts Love—and Five They Don'tGold mining companies Recently, gold prices (GLD) have resumed their downward trend, mainly due to the US dollar’s strength. The SPDR Gold Shares ETF (GLD) has fallen 0.2% as of June 14. The VanEck Vectors Gold Miners ETF (GDX) has had a worse showing at -2.5% YTD (year-to-date). Among senior miners, only Goldcorp (GG) has gained in the double digits, rising 12.1% YTD. Newmont Mining (NEM) is the only other senior gold miner to have gained positively YTD in 2018. Barrick Gold (ABX) and Kinross Gold (KGC), on the other hand, have fallen 9. ...
After declining for four consecutive trading weeks, crude oil started this week on a stronger note by rising on Monday. Carrying forward the strength, crude oil opened higher on June 19. However, crude oil lost strength and was trading with mixed sentiment in the early hours amid the strong dollar.
Crude oil declined last week and clocked the fourth consecutive weekly decline. Maintaining the weakness, crude oil opened Monday on a weaker note and was trading with mixed sentiment in the early hours.
Crude oil closed at two-week high price levels on Thursday and clocked the fourth consecutive daily gain. On Friday, crude oil opened the day higher and pulled back in the early hours.
By one measure, gold is trailing stocks by its widest margin in 13 years, and some market watchers expect the trend to continue.
Last week, the US Dollar Index (UUP) fell 0.67% to end at 93.5. It gave up some of its gains due to short covering in the FX (foreign exchange) markets and a decline in US bond (BND) yields. The US dollar (USDU) will likely take cues from US economic data and a series of central bank meetings scheduled for this week.
The much-awaited meeting between US president Trump and North Korean leader Kim Jong Un in Singapore concluded on June 12. The US president also stated that the US would be suspending US military exercises with South Korea, which was a surprise concession. Market participants are also quite skeptical of North Korea’s intentions regarding following up on the initial steps towards peace, as the country has backtracked on giving up nuclear ambitions in the past after making similar promises.
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After declining for three consecutive trading weeks, crude oil started this week on a stronger note by rising to ten-day high price levels on Monday. On June 12, crude oil opened on a stable note and was trading with strength in the early hours.
Following a weak performance for two weeks, crude oil started this week on a weaker note. Crude oil has been consolidating at a lower price this week. After briefly pulling back on Wednesday, crude oil opened higher on Thursday and was trading with mixed sentiment in the early hours.
Which Risks Do Top Money Managers Want You to Hedge with Gold? The CFTC (Commodity Futures Trading Commission) releases its Commitment of Traders (or COT) report every Friday. It gives a breakdown of the open interest positions of all major contracts in the futures market through the previous Tuesday.