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Precious Metals Slump on Global Concerns (Continued from Prior Part) Gold and silver performance update
Gold is mostly trading flat. On Monday, August 17, it gained 0.51%, whereas on Tuesday, August 18, it lost 0.13%. Silver saw an up-day on Monday and gained 0.56%. It lost as much as 3.35% on Tuesday, August 18. Silver futures on COMEX settled at $14.834 per ounce on August 18. The dollar ended about 0.3% weaker and the DXY currency index settled at $97.04. The US dollar has a 30-day trailing loss of 1.14%. However, its year-to-date gain is 7.18%.
Since it’s popular as a risk-aversive investment, investors flock to gold in times of social, political, and economic unrest. Under the current scenario, when interest rates are lower, gold has an easy time competing with interest-bearing securities. However, a possible rate hike may take away the luster from the beloved metal.
FOMC meeting awaited
FOMC (Federal Open Market Committee) met on Wednesday, August 19, which is likely to have major effects on precious metals. A hawkish outcome of the Fed’s meeting is likely to have a more negative impact. This may pertain to the probable, much-anticipated liftoff expectation that will probably make Treasuries and other interest-bearing securities perform better.
The Market Vectors Gold Miners ETF (GDX) fell 1.8% on Tuesday, August 18. GDX Component companies Iamgold (IAG), Agnico-Eagle Mines (AEM), Royal Gold (RGLD), and Silver Wheaton (SLW) lost 4.84%, 0.12%, 1.18%, and 2.08%, respectively.
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Silver Wheaton
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PRODUCTEUR |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Silver Wheaton est une société basée au Canada. Silver Wheaton est productrice d'argent, de cuivre, d'or, de plomb, de silica et de zinc au Canada, au Mexique, au Perou, au Portugal, en Grece et en Suede, en développement de projets d'argent, de cuivre, d'or et de zinc au Canada et au Chili, et détient divers projets d'exploration au Portugal et en Argentine. Ses principaux projets en production sont ZINKGRUVAN en Suede, KENO HILL (BELLEKENO) et MINTO MINE au Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN et G-9 CAMPO MORADO au Mexique, YAULIYACU au Perou, STRATONI en Grece et NEVES-CORVO au Portugal, ses principaux projets en développement sont PASCUA LAMA au Chili et KUTCHO CREEK au Canada et ses principaux projets en exploration sont PROMOTORIO DURANGO et MONTOROS au Mexique, ALJUSTREL au Portugal et LOMA DE LA PLATA (NAVIDAD) en Argentine. Silver Wheaton est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 12,6 milliards CA$ (9,2 milliards US$, 8,4 milliards €). La valeur de son action a atteint son plus bas niveau récent le 09 mars 2007 à 10,01 CA$, et son plus haut niveau récent le 15 mai 2017 à 28,53 CA$. Silver Wheaton possède 441 520 000 actions en circulation. |