X
<

Gold Outperformed Other Precious Metals on April 18

PART:
1 2 3 4 5
Gold Outperformed Other Precious Metals on April 18 PART 1 OF 5

What’s Contributing to Fluctuations in Precious Metals?

Precious metal movement

Gold and other precious metals increased due to geopolitical tensions around the world. Gold rose ~4.9% during the past 30 trading days. On April 18, gold rose almost 0.17% and ended the day at $1,292.4 per ounce. The other three precious metals had a down day. Silver, platinum, and palladium fell 1.3%, 1.2%, and 2.2%, respectively, on Tuesday.

Silver ended the day at $18.3 per ounce, while platinum and palladium fell to $976.1 and $770.9 per ounce, respectively.

The DXY Currency Index, or DXY, also witnessed a fall on Tuesday. It fell 0.79% from the previous day. Although the fall in the US dollar lifted gold higher, it wasn’t able to lift other dollar-denominated precious metals higher.

What&#8217;s Contributing to Fluctuations in Precious Metals?

Interested in AEM? Don't miss the next report.

Receive e-mail alerts for new research on AEM

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

Market turbulence

The US dollar has been a crucial determinant in metal fluctuations in the past year. The rise in the dollar often makes dollar-based assets less lucrative for investors from other countries. A fall in the dollar increases the demand for precious metals. A falling dollar could be the major contributor to the increase in gold and other precious metals.

Economic turbulence, extended by President Trump, contributed to safe-haven bids for gold. Unrest in other parts of the world, like Syria and North Korea, also contributed to gold’s higher price.

Gold and silver-based funds including the iShares Gold Trust (IAU) and the iShares Silver Trust (SLV) rose 3.3% and 0.52% on a 30-day trailing basis. Gold usually attains more safe-haven bids than silver during market turbulence.

Most mining shares fell on Tuesday. The shares include Agnico-Eagle (AEM), Primero Mining (PPP), Silver Wheaton (SLW), and Alamos Gold (AGI). These four stocks fell 0.58%, 2.9%, 0.45%, and 2.1%, respectively.

X

Please select a profession that best describes you: