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Gold prices hit 2015 lows—so what's next? (Part 1 of 2) Volatility of gold prices
COMEX is a division of the New York Mercantile Exchange. COMEX gold futures contracts for the month of April settled in at $1,164.3 per ounce on Friday, March 6, 2015. It tested the lows of November 28, 2014.
This is the seventh down day in the last ten days. The average down days have been 0.23% more than the up days over the same period.
Gold prices trade lower
Gold prices settled at the day’s low on March 6, 2015, down by 2.67% from the previous trading session. The total volume on March 6, 2015, was at 204,043 contracts. Volume increased by 72,180 contracts from the previous trading session.
Gold prices are in a deep downward trend since August 2011, down almost 41%. An improving US economy and a strengthening dollar led to the decline in gold prices.
The long-term downward trend continued in February 2015 and into March. All trading sessions in March closed in the red, which means prices closed lower each day.
Strong US labor data on Friday, March 6 and a strong dollar caused gold to tumble by more than 2% that day. This fueled the consensus of a rate increase from the Federal Reserve, and gold hit a three-month low.
Lower gold prices affect gold ETFs such as the Market Vectors Gold Miners ETF (GDX) and the iShares Gold Trust (IAU). They also impact gold companies such as Kinross Gold Corporation (KGC), Anglogold Ashanti(AU), and Yamana Gold (AUY). Anglogold Ashanti makes up 4.37% of GDX ETF.
Continue to Part 2 Browse this series on Market Realist:
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PRODUCER |
CODE : AU |
ISIN : US0351282068 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
AngloGold is a gold producing company based in . AngloGold produces gold, copper, silver and zinc in Argentina, in Australia, in Brazil, in Canada, in Ghana, in Guinea, in Mali, in Namibia, in South Africa and in Tanzania, develops gold and iron in Australia, in Brazil, in Colombia, in Congo Dem. Rep. of and in South Africa, and holds various exploration projects in Philippines. Its main assets in production are CRIXÁS, MINERAÇÃO, SAO BENTO, ANGLOGOLD ASHANTI MINERAÇAO and CRIXAS MINE in Brazil, SUNRISE DAM GOLD MINE in Australia, NAVACHAB MINE and NAVACHAB in Namibia, YATELA, MORILA and SADIOLA in Mali, CERRO VANGUARDIA in Argentina, MPONENG (WESTERN DEEP NO. 1 SHAFT), TAUTONA (WESTERN DEEP NO.3 SHAFT), BAMBANANI, TAU LEKOA, MPONENG, SAVUKA, TAU TONA, GREAT NOLIGWA, KOPANANG and CRIPPLE CREEK & VICTOR (CRESSON MINE) in South Africa, SIGUIRI in Guinea, TEBEREBIE, IDUAPRIEM, OBUASI and KUBI in Ghana, GEITA in Tanzania and TROUT LAKE MINE and CALLINAN MINE in Canada, its main assets in development are MOAB KHOTSONG in South Africa, MINAS-RIO in Brazil, LA COLOSA and GRAMALOTE in Colombia, KIBALI (KILO-MOTO) in Congo Dem. Rep. of and TROPICANA in Australia and its main exploration properties are HUALATAN and ER in Peru, MKURUMU in Tanzania, 777 PROJECT and RIVARD in Canada, LOUBOUGOULA, GOODPASTER and ALAMOUTALA (SADIOLA II) in Mali, BAMBADJI in Senegal, MORRO VELHO in Brazil and SIANA in Philippines. AngloGold is listed in Australia, in Germany and in United States of America. Its market capitalisation is US$ 9.0 billions as of today (€ 8.4 billions). Its stock quote reached its lowest recent point on November 23, 2018 at US$ 10.00, and its highest recent level on April 24, 2024 at US$ 21.92. AngloGold has 409 109 984 shares outstanding. |