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Gold Rebounded on November 24, Miners Stand By Gold futures gained
Gold futures for the most actively traded February contracts gained 0.63% on Tuesday, November 24, 2015. The surge in prices was exacerbated by rising political tensions after Turkish F-16 fighter jets downed a Russian Su-24 fighter jet over the Syrian border that day.
Such political volatility highlights the safe-haven appeal of precious metals. Silver also followed the same route as gold as it gained 0.90% and closed at $14.20 per ounce. Gold and silver are ranked lower than the 24 other commodities listed on the S&P Goldman Sachs Commodity Index (or GSCI). The rout in these prices resulted in their reduced comparative rankings. However, platinum and palladium reacted slightly, as palladium gained just 0.08%.
Technical indicators
Gold, platinum, and palladium have seen equal up and down days during the last five trading days. Gold’s volatility is almost 6% lower than the average ten-day volatility. The leveraged Direxion Daily Gold Miners ETF (NUGT), which tracks the performance of the mining industry, gained 10.90% on Tuesday, November 24. The Direxion Daily Junior Gold Bear ETF (JDST) retreated 7.90% as its bet against gold’s gains.
Mining companies First Majestic Silver Corp. (AG), Royal Gold Inc. (RGLD), and Kinross Gold Corp. (KGC) have lost 11.60%, 30.20%, and 17.20%, respectively, on a 30-day trailing basis. These losses were due to the sliding prices of the precious metals, and these companies are trading well below their 100-day moving average prices.
The RSI (Relative Strength Indicator) for Royal Gold Inc. is close to 30. An RSI level close to 30 indicates a likely rebound in price. First Majestic Silver Corp., Royal Gold Inc., and Kinross Gold Corp. comprise 8.30% of the Market Vectors Gold Miners ETF (GDX) portfolio. Investors are watching the performance of precious metals closely, as mining companies are adversely affected by declining precious metal prices.
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Royal Gold Inc.
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PRODUCER |
CODE : RGLD |
ISIN : US7802871084 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Royal Gold is based in United states of america. Royal Gold produces gold, copper, lead, silver and zinc in Argentina, in Bolivia, in Burkina Faso, in Canada, in Chile, in Guinea, in Mexico, in Nicaragua and in USA, develops copper, gold, lead, silver and zinc in Australia, in Burkina Faso, in Canada and in Chile, and holds various exploration projects in Argentina, in Bulgaria, in Canada and in Finland. Its main assets in production are BALD MOUNTAIN in USA, LIMON, LEEVILLE MINING COMPLEX and GOLDSTRIKE OPEN PIT in Nicaragua, DON MARIO (CERRO PELADO) and ROBINSON (NEVADA) in Bolivia, EL CHANATE, PEÑASQUITO, WHARF, MARIGOLD, DOLORES MINE, MULATOS MINE -ESTRELLA and GOLDSTRIKE UNDERGROUND in Mexico, SIGUIRI in Guinea, TAPARKO in Burkina Faso, MARTHA MINE in Argentina, ANDACOLLO HYPOGENE, TOQUI and ANDACOLLO in Chile and WILLIAMS, TWIN CREEKS, PIPELINE MINING COMPLEX and TROY in Canada, its main assets in development are GOLD HILL and PASCUA LAMA in Chile, HOLT MINE & MILL and PINE COVE (MINGS BIGHT) in Canada, BALCOOMA in Australia and BOUROUM in Burkina Faso and its main exploration properties are CANADIAN MALARTIC (QUEBEC), GOLDSTRIPE WILLA, MANHATTAN (WHITE CAPS) and CAMP BIRD MINE in Canada. Royal Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is US$ 8.2 billions as of today (€ 7.6 billions). Its stock quote reached its lowest recent point on February 28, 1992 at US$ 0.03, and its highest recent level on April 26, 2024 at US$ 124.58. Royal Gold has 65 455 293 shares outstanding. |