| Why Gold and Palladium Prices Diverged in January | |
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January Was Gold's Strongest Month in a Year! (Continued from Prior Part) Gold and palladium
Gold futures for April delivery on COMEX rose by a whopping 5.2% in January. Gold lost approximately 10% in 2015, but it recovered almost 50% of this loss in January alone. Gold was on a winning streak, and January became the best-performing month for the metal in nearly a year. Gold, silver, platinum, and palladium all rose on the last trading day of the month—by 0.03%, 0.08%, 0.74%, and 1.3%, respectively. Palladium became the winning precious metal on Friday after losing almost 11.3% in January.
Gold’s rise is due to haven calls and a fall in palladium, which is itself most likely due to the industrial slump and prevailing economic weakness.
The chart below shows gold’s performance versus palladium in January. Gold is the best-performing metal in 2016 so far. Palladium is the worst performer.
Alongside the rise in gold prices, the SPDR Gold Shares ETF (GLD) and the iShares Gold Trust (IAU) also rose 5.4% each in January. Their prices are mostly based on gold, and they’re seen as an alternative way to track gold prices.
Miners’ performance
The best-performing precious metal equities have been South African miners AngloGold Ashanti (AU), Sibanye Gold (SBGL), and Gold Fields (GFI). These three stocks rose 20.6%, 46.2%, and 23.2%, respectively, over the past month. Together, they make up 9.5% of the Market Vectors Gold Miners ETF (GDX). GDX also rose about 4%.
The main support for these companies’ price increases is the recent weakness in the rand. The weak currency lowers their rand-denominated costs and the growing strength of the US dollar supports higher precious metal prices, enlarging their profit margins.
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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. |