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Oil Bounces Back, Plays Game with Gold Gold loosens up
Gold futures for April delivery retreated 0.15% on Friday, January 22, 2016. The strength gained by the equity markets weighed down gold’s haven appeal that had raised the price of gold since the beginning of the year. Risk-aversion was likely fueled by the markets.
Oil toppled to its 12-year low, and equities joined in. Investors flocked to haven assets like Treasuries and gold, which raised their prices. However, a rebound in oil prices buoyed stocks and put a dent in gold. Gold closed at $1,096.30 per ounce after touching a low of $1,094.1 per ounce on January 22. It reached a high of $1,103.20 that day, as you can see in the graph below.
Other precious metals
The fall in gold and its loss of haven appeal also extended to silver. Silver fell 0.26%, closing at $14.30 per ounce on January 22. Platinum and palladium, however, rebounded 1.5% and 0.89%, respectively, that day. The crushing prices of these two precious metals were most likely due to the slump in the stock market and their high industrial usage. Platinum and palladium futures closed at $831.60 and $499.90 per ounce, respectively.
The SPDR Gold Shares (GLD) rose to 1.8 metric tons on Thursday, January 21, 2016, which aggregated the week’s inflow of 4.2 metric tons for the week. The overall rise and fall in gold prices have also affected mining-based companies.
Goldcorp (GG), Royal Gold (RGLD), and New Gold (NGD) rose 3.3%, 2.5%, and 2.5%, respectively. These companies make up 14.1% of the Market Vectors Gold Miners ETF (GDX), which rose 0.93%.
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New Gold Inc.
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PRODUCTEUR |
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CODE : NGD |
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ISIN : CA6445351068 |
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CUSIP : 644535106 |
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New Gold est une société de production minière d'or basée au Canada. New Gold est productrice d'or, d'argent, de cuivre, de plomb et de zinc au Mexique et en Australie, en développement de projets d'argent, de cuivre et d'or au Bresil, au Canada et au Chili, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont PEAK MINES en Australie et CERRO SAN PEDRO, MESQUITE et CERRO SAN PEDRO au Mexique, ses principaux projets en développement sont AMAPARI au Bresil, NEW AFTON au Canada et EL MORRO au Chili et ses principaux projets en exploration sont AJAX - PYTHON, BUCK CLAIMS, 3TS, SIZZLER, CC PROPERTY, VO PROPERTY, TAK PROPERTY, MOUSE MOUNTAIN, G-SOUTH, CHUBBY BEAR, LIBERTY BELL, BOULEVARD, BOUVETTE, WIT YUKON, RAM, SLATE FALLS, PROSPECTOR MOUNTAIN, MAYO, DAVIDSON, BLACKWATER, BOULDER CREEK, CAPOOSE, NATIONAL, CORRAL CANYON et RUDE CREEK au Canada et RIO FIGUEROA au Chili. New Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 610,0 millions US$ (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. |