RECENT Commodity ETFs RESEARCH
Gold saw a down day on Wednesday, November 15, 2017. Gold futures for December delivery were 0.41% lower for the day and ended at $1,277.70 per ounce.
Besides the impact of interest rates, there are also other global indicators that could play on precious metals—the most important being the US dollar.
Gold touched its three-week high level on Thursday, November 9, of $1,289.5 and closed at $1,287.5 per ounce.
Gold fell on November 7 after witnessing a rise of almost 1% the previous trading day. Gold futures for December delivery fell 0.45% on Tuesday.
Gold prices (GLD) have risen ~10.5% as of November 7, 2017, YTD (year-to-date).
Gold had an up day on Wednesday, November 1, as markets reacted to the selection of the next Federal Reserve chair.
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On October 26, gold futures for November expiration fell 0.74%. Silver for December futures fell 0.67%, and platinum for December expiration fell 0.55.
The momentum gold experienced in August carried over into early September. Geopolitical tension continued as South Korea reacted to possible preparation by North Korea for an intercontinental ballistic missile launch.
China, along with the rest of the world, has experienced a long-running decline in productivity growth—a decline that accelerated after the Global Financial Crisis.
Gold was trading moderately high on Wednesday, October 25, 2017. It rose a marginal 0.04% and closed at $1,276.30 per ounce. Silver and palladium, however, had a down day.
After the rise we saw on Friday, October 13, precious metals had a down day on Monday, October 16.
Gold rose to a three-week-high level of $1,304.1 per ounce on Friday, October 13, and closed at $1,302.9.
During the FOMC (Federal Open Market Committee) meeting in September, many officials showed interest in another rate hike in 2017—and more in 2018.
The last few days have seen a rise in precious metal prices. However, on Wednesday, October 11, 2017, the prices of these loved metals fell.
The negative sentiment toward gold prevailed on Friday, September 29, the last trading day of the month. Gold futures for November expiration fell 0.3%.
Gold touched a one-month low on Thursday, September 28, due to the rise of the US dollar over the speculation of another rate hike in December 2017.
Like silver, platinum has industrial uses and has seen growing demand in China.
All four precious metals except platinum had an up day on Friday, September 22, 2017, as tensions in the North Korean peninsula got stronger.
Most precious metals witnessed a rebound in price on Friday, September 22, 2017, after falling for a few days. Gold closed slightly above the previous day’s close of $1,293.30 per ounce.