BTG, NGD, AEM, and IAG have RSI (relative strength index) levels of 41.3, 38.8, 33.3, and 14.4, respectively.
As of December 7, 2017, GOLD, CDE, ABX, and KGC have call implied volatilities of 23.3%, 40.1%, 24.8%, and 37.9%, respectively.
Gold prices dropped to their lowest since May on Thursday, December 7. Gold futures for January expiration fell 1% for the day and ended at $1,251.4 an ounce.
Between November 29 and December 6, natural gas (GASL)(GASX)(FCG) January 2018 futures had a correlation of -1.6% with US crude oil January futures.
On December 6, natural gas (UNG)(BOIL) January 2018 futures traded at a discount of ~$0.24 to January 2019 futures. This price difference between January 2018 futures and January 2019 futures is called the “futures spread.”
We saw a decline of 33 Bcf (billion cubic feet) in natural gas inventories for the week ended November 24, against market expectations of a decline of 37 Bcf.
After a record high of 1,606 in 2008, the natural gas rig count has fallen ~88.8% to date. However, natural gas supplies keep rising because of higher oil rig counts.
On December 6, natural gas (UNG) January 2018 futures closed at $2.922 per MMBtu (million British thermal units). Natural gas prices rose just 0.3%.
We’ll briefly analyze mining stocks’ correlation with gold. Gold is the most crucial of the precious metals, and mining stocks tend to increasingly take their price changes from gold.
All four precious metals have seen downward price movements over the past five trailing days. Gold, silver, platinum, and palladium have fallen 1.5%, 3.7%, 4.1%, and 0.83%, respectively.
In this part of our series, we’ll look at the technical indicators for mining stocks. We’ll discuss the call-implied volatility and RSI (relative strength index).
We should analyze mining stocks’ price movements in relation to their moving averages. In this part of our series, we’ll discuss Wheaton Precious Metals (SLW), Coeur Mining (CDE), Barrick Gold (ABX), and Kinross Gold (KGC).
It is almost a unanimous expectation that the Federal Reserve would raise rates by 25 basis points in December 2017.
J.P. Morgan sees gold prices averaging $1,295 per ounce in 2018, with second-half prices averaging $1,340 per ounce.
According to the World Gold Council, the demand for physical gold in 3Q17 was at its lowest point since 3Q09.
November 2017 was the 17th consecutive positive month for the S&P 500 (SPY) (SPX), which marks the longest streak in its monthly history.
The dollar has risen recently, as the US Senate passed the Tax Cuts and Jobs Act on December 2, 2017.
While an interest rate hike at the Federal Reserve’s December meeting is almost certain, the Fed is projecting three rate hikes in 2018.
Janet Yellen, the chair of the Federal Reserve, expects inflation to move higher in 2018.
US consumer confidence climbed to a 17-year high in November.