|Bid||158.78 x 800|
|Ask||159.20 x 800|
|Day's range||157.71 - 159.08|
|52-week range||152.41 - 208.09|
|PE ratio (TTM)||16.53|
|Forward dividend & yield||3.44 (2.19%)|
|1y target est||192.38|
Whereas palladium has been the strongest among the four precious metals over the last month, it has fallen 7.2% year-to-date, possibly due lower car demand in China. Palladium was trading at $1,002 on May 10, while gold was trading at $1,321. Like silver, palladium often leans more toward its industrial use than its precious-metal status. Palladium, which is used as a catalyst in diesel engines, was supported by demand for diesel vehicles rising in 2017.
The personal consumption expenditure (or PCE) price index climbed 2.0% year-over-year (or YoY) in March 2018, which was the biggest gain since February 2017. Excluding the volatile food and energy components, the core PCE index, the Fed’s preferred measure of inflation, rose by 1.9% YoY. Economists are now expecting PCE to hit 2.0% in May because of favorable base effects.
Palladium has been the weakest among the four precious metals on a YTD (year-to-date) basis. The fall in car demand in China may be the reason behind the massive palladium price crash. Palladium is inclined more toward industrial use than use as a precious metal due to its many industrial applications.
Despite weaknesses at its newly acquired operations, the Latin American airport operator continued growing both traffic and earnings.
The Mexico City-based company said it had profit of $2.59 per share. The airport facilities manager posted revenue of $209 million in the period. Grupo Aeroportuario del Sureste shares have declined slightly ...
A crucial factor that continues to affect gold is the US dollar. On Wednesday, gold and the US dollar rose 0.15% and 0.12%, respectively. However, these two move in the opposite direction most of the time. On a YTD (year-to-date) basis, gold has risen 3.4%, while the dollar has lost 2.7%.
Precious metals had another up day as gold futures for April expiration rose 0.48% on Friday, April 13, closing at $1,344.80 per ounce. Silver rose 1.1%, ending the day at $16.60 per ounce.
According to the US Bureau of Labor Statistics, the US consumer price index (or CPI) rose 2.4% year-over-year (or YoY) in March 2018. The core CPI, which excludes volatile food and energy components, rose 0.2% over the previous month and 2.1% YoY in March. One of the factors that has significantly contributed to this increase is the impact of a change in mobile phone service costs.
Gold, silver, platinum, and palladium increased 0.33%, 1%, 2.4%, and 4.2%, respectively, on Monday. Gold futures for April expiration were trading at $1,336.3 an ounce on Monday, April 9. The volatility in gold was at 10.4%, while its RSI level was at 59.7. Silver futures for April expiration closed at $16.5 per ounce. Silver’s volatility was at 17.4% and its RSI level was at 58. Platinum and palladium were at $933.9 and $933.5 an ounce, respectively. These two metals are once again at the same level, so it will be interesting to see which one picks up from here.
In this part of our series, we’ll analyze the correlation between gold and four mining stocks: Hecla Mining (HL), Kinross Gold (KGC), Eldorado Gold, (KGC), and Alacer Gold (ASR). Mining stocks tend to move with gold prices. Among these four miners under discussion, Kinross Gold has shown the highest correlation with gold while Eldorado is indicating a negative correlation to gold on a YTD or year-to-date basis.
Among the four precious metals that we’ll be discussing in this series, only gold saw gains on Wednesday, April 4. Gold prices for April futures were up 0.23% and closed at $1,335.8 an ounce. Platinum was down 1.4% and was the biggest loser among the four precious metals.
The softer inflation figure in February is in line with the weaker-than-expected growth in wages during the month. According to the survey of consumer expectations, one-year forward median inflation expectations rose to ~2.8% from ~2.7% in January 2018. The University of Michigan Index of Consumer Sentiment also corroborates consumers’ rising inflation expectations.
The company closes out 2017 with solid, if not spectacular, growth in fourth-quarter airport terminal traffic.
Traffic at the Latin American airport operator lost some altitude due to some issues at its recently acquired locations.
Could Gold Catch a Bid if Equities Stay Weak in 2018? The Federal Reserve has long been expecting inflation to pick up. Its targeted 2% inflation rate has been eluding it for more than five years, but the latest US jobs report indicates that inflation could finally get a boost.
Monday, January 29, 2018, was a down day for all four precious metals. The US dollar index, which prices the dollar against a basket of six major world currencies, rose 0.27% that same day. The dollar has rebounded from its lows after United States Secretary of the Treasury Steven Mnuchin was eager to back a weaker currency.