According to data provided by Markit Economics, the final Markit France services PMI (purchasing managers’ index) stood at 56.4 in February 2017 compared to 54.1 in January.
The February US services PMI (purchasing managers’ index) report, released on March 3, 2017, indicated softness in US (SPY) (SPX-INDEX) (QQQ) (VFINX) business conditions.
According to data provided by Markit Economics, the final Markit Germany services PMI (purchasing managers’ index), released on March 3, 2017, stood at 54.4 in February 2017.
In this series, we’ll take a look at recent global services PMI (purchasing managers’ index) releases. Like manufacturing PMIs, services PMIs are important economic indicators.
Global implications such as interest rate hikes, political stability, and market uncertainty play big roles in determining the prices of mining shares.
Precious metal funds like GLD and SLV have seen significant correlations to their respective precious metals.
Funds like GDX and RING)are closely linked to the performance of precious metals—especially to gold and silver.
All four precious metals witnessed a rise in price on Monday, March 20, as the US dollar slipped to its six-week low.
Emerging markets and developing economies are expected to grow 4.5% and 4.8% in 2017 and 2018, respectively, according to the IMF update.
The world markets are poised to grow at a moderate pace of 3.4% and 3.6% in 2017 and 2018, respectively.
European stocks are expected to rise in 2017, but you need to be cautious of unexpected political outcomes in 2017.
Global economic activity is expected to pick up in 2017 after a lackluster 2016. It’s expected to be driven by economic activity in the United States.
For those investors interested in parking their money in mining shares, it’s crucial to understand which stocks are closely tied to precious metals and which aren’t.
The rises and falls of precious metals often result in amplified reactions in mining stocks. Often, a rise in gold leads to rises in gold-mining stocks, and vice versa.
Mining companies’ volatilities are significant to the buying process. The mining shares we’ve selected in this article are Kinross Gold, Eldorado Gold, IAMGOLD, and Harmony Gold.
All four precious metals have found room to breathe as looming fears of an interest rate hike have now passed. Gold rose 0.27% on March 17, 2017.
When the interest rate hike took place on March 15, 2017, much of the upside in precious metals had already been priced in by the market.
As of March 15, the volatilities of Silver Wheaton, AngloGold Ashanti, Hecla Mining, and Kinross Gold were 38.2%, 36.2%, 29.3%, and 40.6%, respectively.
The bullish bias continued during the trading session on March 15. Gold touched the day’s high of $1,221.2 per ounce.
Precious metals joined mining stocks in a downward trend. Precious metal mining stocks typically move in the same direction as precious metals.