126.30 -0.12 (-0.09%)
After hours: 7:59PM EST
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||126.41 - 126.73|
|52 Week Range||112.81 - 128.32|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.40%|
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.
Stocks pared their losses Thursday as Nvidia and Taiwan Semiconductor led chip stocks higher, and Bitcoin rebounded.
The SEC and ETF firms can't agree on how to bring a bitcoin fund to market, but in Sweden, bitcoin exchange-traded products have been trading for years.
Kinross Gold (KGC) has significantly outperformed gold prices (GLD), the overall gold miners’ index (GDX), as well as its peers in 2017. While the stock rose 38.9%, its close peers Newmont Mining (NEM), Barrick Gold (ABX), and Goldcorp (GG) returned 10.1%, -9.4%, and -6.1%, respectively. Kinross has shown an impressive operational performance in 2017 along with steady execution on its growth projects, which led to the outperformance of the stock.
Gold's rise last year was not as sharp as what many investors had expected, and the reasons for the climb often had little to do with the U.S. president.
Along with Agnico Eagle Mines (AEM), Newmont Mining (NEM) has a high percentage of “buy” ratings among the senior miners at 61%. Its target price implies an upside of 11.6% from its current market price of $38.3. Newmont Mining’s stock has not seen any rating change from analysts since July 2017 when Argus upgraded it from “hold” to “buy” with a target price of $43.
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 improved global risk appetite and the firm dollar are weighing on gold prices. The firmer dollar weighs on dollar-denominated commodities.
When analyzing platinum markets, it's important to compare the metal's performance with that of gold, which is the most crucial of the precious metals.
At 5:40 AM EST on January 4, the West Texas Intermediate crude oil futures for February 2018 delivery were trading at $61.84 per barrel—a gain of 0.34%.
Besides the slump of the US dollar during 2017, the other most important and most talked-about indicator is the US interest rate.