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The Appreciating Dollar Could Pressure Short-Term Gold Prices Gold prices fall
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.
June gold futures trading on the COMEX slightly declined by 0.02% on May 22, 2015, and settled at $1,204.90 per ounce. Prices declined as US inflation increased and the US dollar appreciated.
Gold-tracking ETFs like the SPDR Gold Trust (GLD) and the iShares Gold Trust (IAU) marginally decreased on Friday, May 22, 2015. Likewise, the Market Vectors Gold Miners ETF (GDX) mirrored gold price movement and fell by 0.45% on Friday’s trade.
Declining gold prices also affect gold producers like Anglo Ashanti Gold (AU), Yamana Gold (AUY), and Goldcorp (GG). They account for 17.58% of the GDX ETF.
US inflation increased for the third month in a row in April 2015. The US Labor department reported that inflation increased by 0.1% in April’ 2015 from the previous month. The rise in inflation supported the US dollar and signaled better prospects for increasing the interest rate by the Federal Reserve. Surveys indicate that the Federal Reserve might increase the interest rate by September 2015.
The US dollar index appreciated against the basket of currencies and increased by 0.92%. It closed at 96.14 on Friday’s trade. The appreciation of the US dollar makes gold expensive. This curbs demand for gold and gold prices drop.
This is the fifth time that gold prices declined in the last ten trading sessions. Prices increased by 0.26% more on the average up days’ than on the average down days over the same period. Gold had an average performance across all commodities in yesterday’s trade. Prices rose by 2.22% year-to-date—led by improved demand from India.
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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$ 9.3 billions as of today (€ 8.7 billions). Its stock quote reached its lowest recent point on November 23, 2018 at US$ 10.00, and its highest recent level on April 25, 2024 at US$ 22.78. AngloGold has 409 109 984 shares outstanding. |