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How Mining Stocks Are Performing at the Start of April

PART:
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Part 4
How Mining Stocks Are Performing at the Start of April PART 4 OF 6

Will Trump’s Meeting with Xi Jinping Boost Precious Metals?

Inflows in gold

Precious metal investors seem to be increasingly cautious due to the upcoming meeting between US and Chinese leaders. Investors’ risk appetite has been negatively impacted, and the equity markets are also slowing down. The volatility (VIXY) measure has been steadily trading lower during 1Q17 despite the piling concerns globally.

The explosion on a Saint Petersburg train on Monday has fueled security concerns around the world. This event triggered gold buying, as gold is known as a safe-haven asset. The inflows in the physical gold ETFs have increased. Also, hedge funds and money managers raised their net long position in gold by 33,179 to 99,150 lots during the week ending March 28. This is the highest inflow in more than three weeks.

Will Trump&#8217;s Meeting with Xi Jinping Boost Precious Metals?

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Trump’s meeting with Xi Jinping

Gold has been steady recently, but a negative outcome from the meeting between Donald Trump and Xi Jinping could have a positive impact on precious metals. On the other hand, a positive outcome could cause a fall in gold demand. Investors around the world could be in a wait-and-watch mode until the meeting on April 6.

Most mining companies rose on Tuesday due to rising precious metals. The miners that saw the highest gains on that day include Sibanye Gold (SBGL), Cia De Minas Buenaventura (BVN), Aurico Gold (AUQ), Gold Fields (GFI), and AngloGold Ashanti (AU).

The VanEck Vectors Junior Gold Miners (GDXJ) and the Sprott Gold Miners (SGDM) also rose on Tuesday by 1.1% and 1.3%, respectively.

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