Energy
Stronger Dollar Pushes Down Gold, Silver, and Crude (GLD, GDX, SLV, SIL, USO, OIH)
Published:
Futures prices for gold, silver, and WTI crude are all lower today as the dollar gains strength against the euro. Oddly enough, the dollar index versus a basket of currencies is down this morning following a poor report on Japanese GDP growth. The even weaker report on Greek GDP is the likely cause of the dollar’s strength against the euro and the dollar is rising versus the yen as well.
Gold futures are trading down about -0.25% at $1,619.00/ounce in the late morning, and silver is down about -0.75% at $27.86/ounce. WTI crude is off about -0.7% at $92.24/barrel, while Brent is up about 0.5% at $113.49/barrel.
The SPDR Gold Shares Trust (NYSEMKT: GLD) is down -0.3% at $156.72 in a 52-week range of $148.27-$185.85, and the Market Vectors Gold Miners ETF (NYSEMKT: GDX) is down about -1.1% at $44.37 in a 52-week range of $39.08-$66.98.
The iShares Silver Trust (NYSEMKT: SLV) is down -0.9 % at $27.02 in a 52-week range of $25.34-$42.78, while the Global X Silver Miners ETF (NYSEMKT: SIL) is down -0.5% at $19.31 in a 52-week range of $16.54-$29.05.
The United States Oil ETF (NYSEMKT: USO) is down -1.1% at 34.46 in a 52-week range of $29.02-$42.30 and the Market Vectors Oil Services ETF (NYSEMKT: OIH) is off -1.3% at $40.66 in a 52-week range of $32.54-$45.14.
Paul Ausick
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