This series analyzes gold prices and market fundamentals. For an in-depth look at gold and related companies, sectors, and drivers, please refer to our Gold ETFs page.
COMEX-traded gold futures contracts for June delivery gained marginally by 0.22% on May 25, 2015. They were trading at $1,207.60 per ounce. Prices gained marginally despite slowing demand and the appreciating dollar.
China and India are the major buyers of physical gold. They represent 54% of global gold demand. The slowing demand from China and India might push gold prices lower. Demand in India would be lower because there aren’t any festivals in the next three months.
The better prospects of the rising interest rate in the US supported the US dollar. Market surveys suggest that the Federal Reserve might increase the interest rate by September 2015. The US Dollar Index appreciated against the major currencies and rose to 96.42 on Monday’s trade. The rising dollar makes dollar denominated gold expensive. This curbs the demand for gold. It put pressure on gold prices.
Gold prices increased for the sixth time in the last ten days. During the same period, gold prices rose by 0.27% more on the average up days than on the average down days. Gold had a mediocre performance in yesterday’s trade. Prices increased by 2.24% YTD (year-to-date)—led by increased demand from India.
With the F-150, Ford has been able to create an opportunity for the company by creating an appealing product and meeting regulators' standards at the same time.
Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.
Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.