RECENT Commodity ETFs RESEARCH
Gold prices fell once again on Wednesday, July 26, 2017. Gold futures for August expiration were 0.22% lower for the day, settling at $1,249.4 per ounce.
The fall in gold on Tuesday, July 25, 2017, was most likely due to the rise in the equities market that same day.
Gold hit a four-week high on July 24, 2017. Gold futures for August expiration touched a high of $1,259 per ounce on the day, ending up at $1,254 per ounce.
When an investor considers parking their money in haven assets and wonders whether gold or silver is the right choice, it’s a good idea to look at the spread.
Precious metals saw an up-day on July 20, 2017, after Mario Draghi said that policymakers would discuss potential changes in the bond-buying program in autumn.
Precious metals were on the path to recovery last week, mainly due to the fall witnessed by the US dollar. The U.S. Dollar Index fell ~1% in the week.
When reading the platinum market, it’s important to analyze the comparative performance of platinum and gold by using the gold-platinum ratio or spread.
On Monday, July 17, gold futures for August expiration closed at $1,233.7 an ounce after having touched the day’s high of $1,235.4 per ounce.
Precious metals saw a down day on Thursday, July 13, 2017. Gold, silver, platinum, and palladium traded lower due to a renewed increase in bond yields.
Gold futures for August expiration touched a low of $1,209.6 an ounce and ended the day at $1,212.1 on Monday, July 10.
On July 11, 2017, coffee prices were broadly positive for both the Arabica variety traded in the United States and the Robusta variety traded in London.
Precious metals saw a down day on Friday, July 7, 2017, as the US dollar scaled higher after the better-than-expected economic numbers.
On July 3, 2017, gold fell to an eight-week low of $1,218 per ounce, likely due to the revival in the equity markets and the rebound in the US dollar.
In the week ending June 30, Arabica and Robusta coffee prices rose week-over-week.
The more optimistic investors are about the economy, the less they need haven assets like gold and silver.
In the past month, silver has dropped 4.9%, while gold has dropped only 1.9%.
Key factors that could affect gold include unrest in the Middle East, the next stage of Brexit, and President Trump’s ability to bring about financial reforms.
Gold prices rebounded on Friday, June 16, 2017, after the Thursday slump. Gold futures for July expiration rose 0.17% and gave a close at $1,255.1 per ounce.
As investors expected, the FOMC (Federal Reserve Open Market Committee) increased interest rates on Wednesday.
The recent lift in the US dollar could have been due to the Fed’s June meeting, which will end on Wednesday, June 14.