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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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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. |