| Gold Is on a Winning Streak as Global Markets Slump | |
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Gold Is on a Winning Streak as Global Markets Slump (Continued from Prior Part) Equity slump
Gold futures traded on COMEX rose 1.6% on Wednesday, January 20, 2016, as the global stock markets plummeted. Unrest in the stock markets often pushes gold higher. Fears once agin gripped the markets as China’s Shanghai Composite Index fell 1% and Europe’s Stoxx fell 3.2%. The Dow Jones Industrial Average gave up 565 points during the early trade hours on Wednesday but recovered after that. Investors seem to be in panic mode, as they are moving away from equity investments and jumping into safer investment classes like gold and silver.
The below chart shows the inverse relationship between gold and the equity markets, tracked by the S&P 500 performance, over the past 15 years.
Miners rise
Gold futures closed at $1,106.2 per ounce after hitting the high of $1,109.9 per ounce. The implied volatility on gold also rose to 15.8% from the close at 14% levels seen the day before. Gold prices are still trading below their 100-day moving average price, which has risen to $1,108.1 per ounce.
The stock market slump not only buoyed precious metals but also the mining companies that usually follow gold. Mining stocks like Primero Mining (PPP), New Gold (NGD), and Newmont Mining (NEM) surged 5.9%, 8.3%, and 1.5%, respectively, on Wednesday. These three stocks together make up 8.3% of the Market Vectors Gold Miners ETF (GDX). The GDX indicator itself rose 3.1% on the same day but has a five-day-trailing loss of 5.1%. The most famous gold-based ETF, the SPDR Gold Shares (GLD), gained 4% during the past one month and is trading at $105.5 per share.
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New Gold Inc.
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PRODUCTEUR |
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CODE : NGD |
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ISIN : CA6445351068 |
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CUSIP : 644535106 |
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New Gold est une société de production minière d'or basée au Canada. New Gold est productrice d'or, d'argent, de cuivre, de plomb et de zinc au Mexique et en Australie, en développement de projets d'argent, de cuivre et d'or au Bresil, au Canada et au Chili, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont PEAK MINES en Australie et CERRO SAN PEDRO, MESQUITE et CERRO SAN PEDRO au Mexique, ses principaux projets en développement sont AMAPARI au Bresil, NEW AFTON au Canada et EL MORRO au Chili et ses principaux projets en exploration sont AJAX - PYTHON, BUCK CLAIMS, 3TS, SIZZLER, CC PROPERTY, VO PROPERTY, TAK PROPERTY, MOUSE MOUNTAIN, G-SOUTH, CHUBBY BEAR, LIBERTY BELL, BOULEVARD, BOUVETTE, WIT YUKON, RAM, SLATE FALLS, PROSPECTOR MOUNTAIN, MAYO, DAVIDSON, BLACKWATER, BOULDER CREEK, CAPOOSE, NATIONAL, CORRAL CANYON et RUDE CREEK au Canada et RIO FIGUEROA au Chili. New Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 610,0 millions US$ (534,3 millions €). La valeur de son action a atteint son plus haut niveau récent le 07 janvier 2011 à 9,99 US$, et son plus bas niveau récent le 20 mars 2020 à 0,39 US$. New Gold possède 575 460 032 actions en circulation. |