RECENT Commodity ETFs RESEARCH
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.
Precious metals traded lower on September 21 after the Fed gave a hawkish tone at Wednesday’s FOMC (Federal Open Market Committee) meeting.
On September 20, gold futures for October expiry closed 0.44% higher than the previous day, ending at $1,312.5 per ounce.
Among the four precious metals, gold (GLD) traded almost flat on Tuesday, September 19, after retreating for two days.
On September 18, gold fell 1.1% and closed at $1,306.90 per ounce. Of the precious metals, silver fell 3.1% and closed at $17.10 per ounce.
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Gold futures fell on Friday, September 15. Gold saw a weekly loss after three straight weeks of gains. Gold was down almost 1.9% last week.
Precious metals have been buoyed by tension in North Korea. If North Korea does another missile test, it could prompt investors to move to haven assets such as gold, silver, Treasuries, and major currencies.
Gold Bullion Rallies in July The monthly low for gold came on July 10 at $1,204 per ounce. Gold then rallied to finish July at $1,269.44 per ounce, a gain…
Gold (IAU) (GLD) prices usually have a strong negative correlation with the US dollar (UUP). Gold, like other commodities, is denominated in the dollar.
The European economy has expanded in the last 17 consecutive quarters. The Eurozone’s annual growth rate is 2.1%—the highest growth rate in the last six years.