- Comex gold finishes higher for the eighth straight session, adding 0.5% to settle at $1,316.10/oz. for the highest finish for a most-active futures contract since Sept. 20.
- The weaker dollar, which last year logged its biggest annual drop since 2003, helped lift gold by more than 13% in 2017, surging $55/oz. in the last three weeks of the year alone.
- Along with the weaker dollar, gold prices also are finding support from “solid ‘safe haven’ buying and some short covering” amid protests in Iran, says Wolfpack Capital chief investment officer Jeff Wright.
- The big gold miners sport solid gains: ABX +4.4%, GG +2.6%, NEM +1.4%, KGC +2.4%, AEM +1%, RGLD +1.4%, IAG +4.4%, AUY +4.9%, GOLD +1.6%, AU +2.2%, GFI +2.2%.
- ETFs: GLD, GDX, NUGT, GGN, DUST, IAU, PHYS, SGOL, GOEX, UGLD, SGDM, UGL, DGP, GLL, ASA, GTU, GLDI, OUNZ, RING, DZZ, DGL, DGLD, TGLDX, DGZ, PSAU, GOAU, GDXX, GYEN, GEUR, GDXS, GLDW, GHS, UBG, QGLDX, GHE, MELT
- Now read: Gold In The Modern World: 2018 Outlook
Original article