- Gold futures (NYSEARCA:GLD) close with their first loss in 11 sessions after Pres. Trump's speech saying Iran may be "standing down" eased fears of escalating Middle East tensions.
- February Comex gold settled -0.9% to $1,560.20/oz., after hitting an intraday high at $1,613.30/oz., its highest level since March 2013.
- "Expectations are that we're not going to see a war, so you might see some softness," saying OANDA senior market analyst Edward Moya, adding that "the rest of the catalysts remain in place for gold."
- While most stocks rallied in response to Trumps' remarks, precious metals miners lagged: GOLD -3.5%, KGC -5.2%, WPM -4.6%, FNV -3.1%, AG -6.3%, AUY -5.8%, PAAS -4.7%, RGLD -7.1%, NEM -2.6%, AU -4.2%, GFI -5%, HMY -6.1%, NG -6.5%, SA -6.8%, KL -3.8%.
- ETFs: GLD, SLV, GDX, GDXJ, NUGT, JNUG, IAU, GGN, DUST, SIL, USLV, AGQ, PSLV, PHYS, JDST, SIVR, UGLD, SGOL, GOEX, SGDM, UGL, ASA
Gold slumps to loss as Middle East worries ease
SPDR® Gold Shares ETF (GLD), GOLD Stock, KGC Stock, WPM Stock, FNV Stock, AG Stock, PAAS Stock, RGLD Stock, NEM Stock, AU Stock, GFI Stock, HMY Stock, NG Stock, SA Stock, AEM Stock, SLV, GDX, GDXJ, NUGT, JNUG, IAU, GGN, DUST, SIL, USLVF, AGQ, PSLV, PHYS, JDST, SIVR, UGLDF, SGOL, GOEX, SGDM, UGL, ASA, ABX:CA Stock, K:CA Stock, WPM:CA Stock, FNV:CA Stock, FR:CA Stock, YRI:CA Stock, PAAS:CA Stock, NGT:CA Stock, NG:CA Stock, SEA:CA Stock, AEM:CA Stock, PSLV:CA, PHYS:CACarl Surran, 89 Comments