98.51 +0.11 (0.11%)
Pre-Market: 5:06AM EDT
|Bid||98.48 x 500|
|Ask||99.17 x 2600|
|Day's Range||97.94 - 100.43|
|52 Week Range||67.54 - 108.29|
|PE Ratio (TTM)||31.34|
|Dividend & Yield||1.00 (1.00%)|
|1y Target Est||N/A|
On October 11, 2017, Randgold Resources, Pan American Silver, Barrick Gold, and Kinross Gold had implied volatility readings of 25.0%, 34.0%, 29.1%, and 41.6%, respectively.
Gold spot futures rallied on Monday as the market digested President Donald Trump's latest tweets about U.S.-North Korea relations. Gold exchange-traded notes iShares Gold Trust (IAU) and SPDR Gold Shares (GLD) are up 0.5% so far. Gold mining stock ETFs VanEck Vectors Gold Miners (GDX) and VanEck Vectors Junior Gold Miners (GDXJ) are up about half that.
On October 2, 2017, Silver Wheaton, Randgold Resources, AngloGold Ashanti, and IamGold had implied volatility readings of 30.8%, 25%, 40.9%, and 44.3%, respectively.
The Zacks Analyst Blog Highlights: Acacia Mining, Agnico Eagle Mines, Randgold Resources, Kinross Gold and Kirkland Lake Gold
Equities and safe-havens like gold are historically known to move in opposite directions because gold is often seen as a hedge against overall market risk.
Gold prices may have dipped of late, but prices of the yellow metal are up roughly 11% year to date. Geopolitical tensions, terrorist attacks, retail demand in India, will prop up gold prices.
A correlation analysis is crucial because it gives investors clues about the possible movement of mining stocks in relation to precious metals.