Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Monday, April 15, 2019 10:12:36 AM
By: Market Realist | April 15, 2019
Gold price performance
Gold prices (GLD) have risen 0.5% YTD (year-to-date) as of April 12—compared to the gain of 16.1% in the S&P 500 Index (SPY). The Dow Jones Industrial Average Index (DIA) and the NASDAQ Composite Index (QQQ) have gained 13.2% and 20.5%, respectively.
The markets gained mainly as the Fed reversed its hawkish stance at the beginning of 2019. Optimism surrounding trade talks between the US and China also supported the markets during the quarter. Gold prices remained weak. Investors flocked to risk assets and shunned safe-haven assets.
Gold miners’ performances
The VanEck Vectors Gold Miners ETF (GDX) has risen 5.3% YTD. Gold mining stocks’ performances varied widely in the quarter depending on their fourth-quarter performances and their 2019 outlooks.
YTD, all of the major senior and intermediate gold miners gained except for IAMGOLD (IAG), which fell 8.4%. Until April 12, Eldorado Gold (EGO) rose the most at 58.3%, while Goldcorp (GG) and Yamana Gold (AUY) rose 17.6% and 8.5%, respectively. Agnico Eagle Mines (AEM), Kinross Gold (KGC), Newmont Mining (NEM), and Barrick Gold (GOLD) saw single-digit rises of 5.0%, 7.1%, 3.8%, and 0.3%, respectively.
Deutsche Bank
As reported by Barron’s, Deutsche Bank (DB) analyst Chris Terry increased his gold price forecast by an average of 7% for 2019 and 2020. The bullish call on gold was mainly due to the Fed being dovish as the economic growth keeps slowing. Terry increased the price forecast for 2019 to $1,350 per ounce, which is ~4% higher than the current levels.
Read Full Story »»»
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Recent GDX News
- YieldMax GDXY Name Change • GlobeNewswire Inc. • 01/25/2024 04:22:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM