X
<

Gold and Silver Diverged after Returning from Their Holiday

PART:
1 2 3 4 5
Part 4
Gold and Silver Diverged after Returning from Their Holiday PART 4 OF 5

How Gold and Silver Diverged on July 5

Gold and silver diverge

Gold witnessed a revival in its price on July 5, 2017, after it slumped almost 1.8% on July 3. Gold settled at $1,221.7 per ounce on July 5 after touching the day’s low of $1,216.5. Silver, however, continued its downward streak and fell another 1.2% to close at $15.9 per ounce.

Palladium also plummeted 0.9% and ended the day at $836.3 per ounce. Platinum followed the trend in gold and rebounded a marginal 0.2% to close at $906.7 per ounce.

How Gold and Silver Diverged on July 5

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.

Precious metals seem to be in a fix following the sudden revival of the US dollar and equities. The fall in silver brought down the silver-based iShares Silver Trust ETF (SLV), which fell 0.78% on July 5. The gold-based iShares Gold Trust ETF (IAU) was trading 0.37% higher compared to July 3.

Economic indicators

Gold saw its first monthly loss in June 2017 as indications of comparatively stable economic growth caused the precious metal’s haven demand to fall. Investors also looked past geopolitical concerns such as tensions between the United States and North Korea and the ongoing conflict in the Middle East.

The downward trend in precious metals may continue given the optimism by the US central bank and investors. This downward trajectory could cause the mining sector to deteriorate further.

The mining shares that have seen significant price falls over the past week include Agnico Eagle Mines (AEM), Primero Mining (PPP), Silver Wheaton (SLW), and Franco-Nevada (FNV). These companies have trailing-five-day falls of 4%, 2.5%, 3.6%, and 2.9%, respectively.

X

Please select a profession that best describes you: