16.00 -0.04 (-0.25%)
Pre-Market: 7:19AM EST
|Bid||16.01 x 13300|
|Ask||16.02 x 10600|
|Day's Range||16.00 - 16.09|
|52 Week Range||14.44 - 17.59|
|PE Ratio (TTM)||3.66|
|Expense Ratio (net)||0.50%|
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.
In this article, we'll discuss the gold-silver, gold-platinum, and gold-palladium spreads. These three spreads stand at 77.9, 1.38, and 1.23, respectively.
Although interest rate hikes and other speculations in the market have had visible effects on precious metals over the last month, the US dollar (UUP) has played the most important role…
The US dollar (UUP) fell 0.71% on December 13—the day the Federal Reserve raised interest rates a quarter point to 1.25%–1.50%.
Although the US dollar has been the most important element contributing to changes in precious metals, the upcoming December meeting of the Federal Reserve has taken all of investors' attention.
Among the four precious metals, silver was the only one that rose on Friday, December 8, 2017. Silver futures for February expiration rose 0.22%.
All four precious metals have seen downward price movements over the past five trailing days. Gold, silver, platinum, and palladium have fallen 1.5%, 3.7%, 4.1%, and 0.83%, respectively.
The US dollar has fallen almost 9.1% on a YTD basis. The iShares Gold Trust (IAU) and the iShares Silver Trust (SLV) have risen 11% and 2.8%, respectively.