| Jobless Claims Data Point to a Firming US Labor Market | |
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Gold Is Losing Its Sheen: Where's It Heading? (Continued from Prior Part) Initial jobless claims fall
The number of people in the US claiming unemployment benefits fell for the first time in the week ending July 10. The number fell by a solid 15,000 from the previous week to come in at 281,000. The figure also came in below economists’ expectations of 285,000 new claims. The four-week moving average was 279,500—a rise of 4,500 from the previous week.
Since weekly data could have statistical noise, analysts usually prefer the four-week average of jobless claims. The four-week average rose by 3,250 to 282,500. The strong jobless claims have come against the backdrop of a firming labor market in the US. This is evident in the falling unemployment rate in June. It fell to 5.30%. The strength of the job market depends on people having jobs with an income.
Implications for gold investors
The labor market strength is positive for the economy and the US dollar. The Fed is closely watching this information along with other factors that will help it decide the timing and quantum of the rate hike. The timing of the rate hike impacts gold-backed ETFs like the SPDR Gold Trust (GLD).
Other affected investments include Eldorado Gold (EGO), Gold Fields (GFI), Newmont Mining (NEM), and Yamana Gold (AUY). The rate hike timing also affects ETFs that invest in these stocks like the Market Vectors Gold Miners ETF (GDX). Together, Newmont Mining and Yamana Gold account for 10.10% of GDX’s holdings.
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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. |