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A secular decline: Gold is still in a long-term downward trend (Part 1 of 2) Gold futures’ price action
April gold futures contracts trading on COMEX settled at $1,160.10 per ounce on Tuesday. COMEX is a commodity division of NYMEX (New York Mercantile Exchange). Prices tested the lows on November 12, 13, and 14, 2014. March 10, 2015, was the sixth down day in the last ten days. The average down days have been 0.39% more than the up days over the last ten trading sessions.
Gold hits 2015 lows
Gold prices for the April delivery settled at the day’s low—down by 0.55%. It hit the yearly low on March 10, 2015. The volume for the day totaled 170,223 contracts. It accelerated by 46,610 contracts from the last trading day.
Gold is in a long-term downward trend. It fell more than 40% from the highs in August 2011. A strong dollar and robust US economy led to a fall in gold prices. Gold’s trend has been downward in February and March 2015. It was driven by the same factors. On March 10, 2015, gold continued to trade lower due to a rising dollar. The dollar hit a 12-year high against the euro on the consensus of a rate hike by the Federal Reserve in the later half of 2015.
Key gold ETFs are affected due to lower gold prices. The ETFs include the Market Vectors Gold Miners ETF (GDX) and the iShares Gold Trust (IAU). It also impacts gold companies like Gold Fields Limited (GFI), Harmony Gold Mining Co. (HMY), and Royal Gold (RGLD). Royal Gold accounts for 4.2% of GDX.
Continue to Part 2 Browse this series on Market Realist:
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Harmony Gold Mining Ltd
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PRODUCTEUR |
CODE : HMY |
ISIN : US4132163001 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Harmony Gold est une société de production minière d'or basée en Afrique Du Sud. Harmony Gold est en développement de projets d'or et d'argent en Afrique Du Sud et en Papouasie-Nouvelle-Guinee, et détient divers projets d'exploration en Afrique Du Sud. Ses principaux projets en production sont RANDFONTEIN UG, HARMONY 2, ELANDSKRAAL UG OPERATING SHAFT, TARGET, TSHEPONG, KALGOLD, ELANDSRAND, EVANDER - 2, 3 & 5, ELANDSKRAAL, JOEL MINE, EVANDER PROJECTS BELOW INFRASTRUCTURE POPLAR, EVANDER, WELKOM, FREE GOLD, DOORNKOP, NYALA, EVANDER (BELOW INFRASTRUCTURE), PAMODZI (FREE STATE), RANDFONTEIN OPERATIONS, EVANDER OPERATIONS, EVANDER - MINE ON CARE, EVANDER PROJECT BELOW INFRASTRUCTURE ROLSPRUIT, EVANDER 8, EVANDER 7, MINES ON CARE-FREE STATE, MASIMONG, BRAND 3, UNISEL, MERRIESPRUIT 3, MERRIESPRUIT 1, ORKNEY UG OPERATING SHAFT, ORKNEY UG SHAFTS ON CARE, RANDFONTEIN SURFACE STOCKPILE, ELANDSKRAAL - DEELKRAAL UG SHAFT ON CARE, FREE GOLD STOCKPILE, JOEL, FREE GOLD SHAFT CARE & MAINTENANCE, ST HELENA, FREE GOLD WEST, PHAKISA, BAMBANANI, EVANDER STOCKPILE et EVANDER PROJECTS BELOW INFRASTRUCTURE-EVANDER SOUTH en Afrique Du Sud, WAFI et HAMATA en Papouasie-Nouvelle-Guinee et SOUTH KAL MINES, UNION REEFS, HIDDEN VALLEY et BENDIGO en Australie, ses principaux projets en développement sont HIDDEN VALLEY & KAVEROI en Papouasie-Nouvelle-Guinee et BLOEMHOEK en Afrique Du Sud et ses principaux projets en exploration sont VIRGINIA OPERATIONS, PHOENIX, FREE STATE SURFACE et MIDDELVLEI en Afrique Du Sud et GOLPU et NAMBONGA en Papouasie-Nouvelle-Guinee. Harmony Gold est cotée au Royaume-Uni, aux Etats-Unis D'Amerique, en Allemagne et en France. Sa capitalisation boursière aujourd'hui est 4,0 milliards US$ (3,5 milliards €). La valeur de son action a atteint son plus haut niveau récent le 27 juillet 2012 à 9,99 US$, et son plus bas niveau récent le 20 novembre 2015 à 0,53 US$. Harmony Gold possède 439 960 000 actions en circulation. |