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Gold slides to fresh 2018 low amid dollar strength

Published 06/20/2018, 02:36 PM
© Reuters.  Gold slides to fresh 2018 low amid dollar strength
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GC
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AGQ
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DGP
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ZSL
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GGN
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IAU
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SGOL
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GDX
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UGL
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PHYS
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DUST
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NUGT
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GOEX
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JDST
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DSLVF
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OUNZ
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GLDI
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SHNY_old
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GLDW
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TGLDX
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GHS
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018C
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BAR
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GOAU
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  • Gold futures settle at a six-month low amid a strengthening U.S. dollar, offsetting demand for gold bullion amid escalating trade tensions between China and the U.S. that normally should attract safe-haven investors.
  • August Comex gold closed -0.3% at $1,274.50/oz., the lowest settlement for a most-active contract since Dec. 21; the dollar has climbed nearly 1.1% this month.
  • “The near-term path of least resistance remains lower right now as dollar strength remains one of the most dominant trends across asset classes,” says Sevens Report co-editor Tyler Richey.
  • Additionally, the Fed’s plan to raise interest rates twice more in 2018 after hiking last week have helped to underpin some upward momentum in the dollar and has lifted interest rates on benchmark 10-year Treasury.
  • Meanwhile, July silver -0.1% to $16.309/oz. for its lowest settlement since mid-May.
  • ETFs: GLD, GDX, NUGT, GDXJ, JNUG, GGN, DUST, IAU, AGQ, SIL, PHYS, USLV, JDST, SGOL, GOEX, UGLD, ZSL, SGDM, UGL, DGP, GLL, ASA, GTU, GLDI, OUNZ, SLVP, DSLV, RING, DZZ, SGDJ, DGL, DGLD, TGLDX, DBS, DGZ, PSAU, GOAU, GDXX, GYEN, BAR, GEUR, GDXS, GLDW, GHS, UBG, USV, SHNY, QGLDX, GHE, MELT, DULL, IAUF
  • Now read: Silver Takes The Stairs Up And Elevator Down


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