| Bullions End the Day Positive as the Fed Eyes December | |
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Key for Investors: Is Gold Driving the Fed's Decisions? Precious metals rose
Gold futures for December delivery trading on COMEX, the commodity division of NYMEX, rose on Wednesday. They touched a high of $1,183.10 per ounce. It’s the highest level in about a week. The futures closed 0.88% higher than the previous day’s close. All of the precious metals saw an up day on Wednesday as the FOMC (Federal Open Market Committee) policy-setting meeting came to an end.
Silver futures rose 2.70% and entered the $16 territory once again. It settled at ~$16.30 per ounce. Platinum and palladium futures also closed positive. They rose 2.40% and 1.10%, respectively.
The above chart for gold shows a reasonably good rising and falling movement on October 28, 2015.
Less dovish stance
Experts and most traders were expecting a “dovish” stance from the October meeting. However, the outcome was a bit on the “hawkish” side. The committee decided to keep interest rates close to zero. It also indicated in its statement that in its next meeting in mid-December it would focus on whether to raise the rates. Before there was any news from the Fed, gold rose almost $10. Shortly after the news, gold fell sharply to $1,162 per ounce.
The CME Group is now showing investors pricing a 47% chance of a rate increase at the December meeting. Investors will likely keep a close watch on the upcoming data from the US so that they can decipher the Fed’s next move.
Gold-backed ETFs like the SPDR Gold Shares ETF (GLD) and the iShares Gold Trust ETF (IAU) both lost 0.8% on Wednesday. Most mining companies also ended the day on a negative note. Companies like Gold Fields (GFI), Aurico Gold (AUQ), and Sibanye Gold (SBGL) lost 5.70%, 2.80%, and 1.60%, respectively. Together, these three companies account for 7% of the price changes in the Market Vectors Gold Miners ETF (GDX). GDX witnessed a fall of 0.94% on October 28.
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Gold Fields ltd
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PRODUCTEUR |
CODE : GFI |
ISIN : US38059T1060 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Gold Fields est une société de production minière d'or basée en Afrique Du Sud. Gold Fields est productrice d'or, de cuivre au Ghana, au Perou, en Australie et en Afrique Du Sud, en développement de projets d'or au Mali, et détient divers projets d'exploration au Perou. Ses principaux projets en production sont ST IVES MINE et AGNEW en Australie, BEATRIX MINE, DRIEFONTEIN, KLOOF MINE, SOUTH DEEP, KLOOF et BEATRIX en Afrique Du Sud, DAMANG, TARKWA et DAMANG PROJECT au Ghana et CERRO CORONA au Perou, son principal projet en développement est KOMANA au Mali et ses principaux projets en exploration sont LOBO aux Philippines et CHUCAPACA et CANAHUIRE au Perou. Gold Fields est cotée aux Etats-Unis D'Amerique, en Afrique Du Sud et en France. Sa capitalisation boursière aujourd'hui est 11,7 milliards US$ (10,5 milliards €). La valeur de son action a atteint son plus bas niveau récent le 10 novembre 2000 à 1,69 US$, et son plus haut niveau récent le 13 septembre 2024 à 14,21 US$. Gold Fields possède 821 530 048 actions en circulation. |