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Gold: Everyone seems to be eyeing $1,100 per ounce (Part 1 of 2) Gold’s price movement
Gold futures for the April delivery, traded on COMEX, closed at $1,166.5 per ounce on March 9, 2015. COMEX is a part of NYMEX (New York Mercantile Exchange). Gold prices tested the lows on December 23 and 24, 2014. This is the fourth up day in the last ten trading sessions. The average up days have been 0.35% less than the down days over the last ten days.
Gold prices close at day’s high
April gold prices closed at the day’s high—up by 0.19% from the last day on March 9, 2015. The total traded volume was at 112,018 contracts on Monday. The volume declined by 102,779 contracts from the previous trading day.
Gold has been trading lower by 40% since August 2011. The appreciating dollar and improving economic growth in the US contributed to the decline in gold prices.
In February and March 2015 gold has been declining due to a strong dollar. However, on March 9, gold closed marginally higher. The US dollar appreciated due to improving US growth. Recently, strong labor data was released. It’s sending positive signals for the Federal Reserve to hike the interest rate. This also supports the dollar rise.
The decrease in gold prices means lower margins for gold producers. Some of the key gold companies are AngloGold Ashanti(AU), Yamana Gold (AUY), and Newmont Mining (NEM).
AngloGold Ashanti and Newmont Mining make up 4.37% and 7.48% of the Market Vectors Gold Miners ETF (GDX), respectively. Lower gold prices also impact gold-focused ETFs like the iShares Gold Trust (IAU).
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. |