Home / gold / Gold Posts the longest slump in more than a month as a stronger dollar

Gold Posts the longest slump in more than a month as a stronger dollar

Holdings in SPDR Gold Shares, the largest exchange-traded fund backed by bullion, fell to the lowest since March on Wednesday.
A rally that pushed the Dow Jones Industrial Average above 20,000 for the first time, along with the stronger U.S. currency and Treasury yields close to the highest this year, reduced demand for the metal as an alternative asset.

referring to

Gold Posts Longest Slump of 2017 as Yield Gains Spur ETF Sales

Gold futures posted the longest slump in more than a month as a stronger dollar and equities near record highs lured away investors seeking higher returns.
“It looks like gold will continue to see liquidation,” Frank Cholly, a senior market strategist at RJO Futures in Chicago, said in a telephone interview.
Base MetalsCopper slipped with the stronger dollar and as China winds down before a week-long public holiday to mark the start of the Year of the Rooster in the Chinese lunar calendar.
Holdings in SPDR Gold Shares, the largest exchange-traded fund backed by bullion, fell to the lowest since March on Wednesday.
Gold has slipped this week as solid corporate earnings buoyed confidence in the U.S. economic outlook.

referring to

Gold ETF Eyes First Weekly Loss Of 2017 But A Key Signal Is Positive

Gold ETF Eyes First Weekly Loss Of 2017 But A Key Signal Is Positive*/

S&P 500 SectorsOn Friday, the energy sector led the decline in the S&P 500.
Aggregate Bond (AGG), +0.1%, RS 22PowerShares DB U.S.$ Bullish (UUP), 01%, RS 36IPath S&P 500 VIX Short-Term Futures (VXX), -1.0%, RS 1
On the stock market today , SPDR Gold Shares ( GLD ) was slightly lower despite the weak economic data.
12 Bellwether ETFsHere’s a look at the performance of major exchange traded funds across key asset classes on the stock market today.
Gold has weakened amid volatility in the dollar index and the stock market rally this week.

 

collected by :Irax John

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