First Majestic Silver Corporation

Uncertainty in the market significantly affects the performances of precious metals. It also affects precious metals mining stocks, which are known to closely track precious metals.

The gold-silver spread was trading at 68.5 on February 23, 2017. The spread suggests that it took 68.5 ounces of silver to buy a single ounce of gold.

Platinum is known for its use in jewelry and as an autocatalyst for diesel-based automobile engines. The demand has been very fragile over the past few years.

Gold prices for February expiration fell on the last trading day of the year. Gold fell 0.53% and closed at $1,152 per ounce on December 30, 2016.

Silver miners have shown a significant correlation to gold prices, at 0.84 from the start of 2013 to December 14, 2016.

Mining companies that have high correlations with gold include Alamos Gold (AGI), First Majestic Silver (AG), B2Gold (BTG), and Royal Gold (RGLD).

Gold broke its key level of $1,300 per ounce on Tuesday, October 4, 2016. But investors are seeing gold’s 200-day moving average of $1,258 per ounce as a resistance level.

Friday was important. Gold rose to a two-year high due to additional haven bids on the Brexit referendum.

The World Gold Council predicted that India’s gold demand in the October–December quarter would be muted. Gold imports shrank 36.5% to $3.53 billion in November.

Deleveraging can affect gold and other bullion prices, as well as exchange-traded funds such as the iShares Gold Trust ETF (IAU) and the iShares Silver Trust ETF (SLV).

With the confusing reviews from the Fed on Wednesday, gold on COMEX rose 2.20% on August 20 and closed at $1,153.20 per ounce. Silver for September expiry also rose.

The SPDR Gold Shares ETF (GLD) is the world’s largest ETF. It’s also the highest-traded. Friday’s price for GLD was $104.39.