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Home / Metal News / Gold Futures Gain 0.2% After Decline; Silver Advances 0.4%

Gold Futures Gain 0.2% After Decline; Silver Advances 0.4%

Apr 17, 2012 10:03

Source:SMM

Gold for June delivery in New York advanced 0.2 percent to $1,653.60 an ounce at 8:06 a.m. in Melbourne, while bullion for immediate delivery was little changed at $1,652.82.

By Phoebe Sedgman - Apr 17, 2012 6:13 AM GMT+0800

Gold for June delivery in New York advanced 0.2 percent to $1,653.60 an ounce at 8:06 a.m. in Melbourne, while bullion for immediate delivery was little changed at $1,652.82. Futures declined for a second straight session yesterday as U.S. equities climbed, eroding demand for the precious metal as a safe haven.

Silver for May delivery rose 0.4 percent to $31.485 an ounce.

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In the medium term, the gold prices will soar to $2,200-2,400/oz. In the next five years, if the Dow Jones index shrinks by 20%-30%, the Dow Jones to gold ratio may converge to 2:1, and the gold prices will rise to $10,000/oz.

Mar 1, 2022 13:26

Industry

Gold Prices may Skyrocket to $10,000/oz within the Next Five Years

Stainless Steel Prices Are Likely to Remain Rangebound after Pulling Back

The stainless steel futures prices rose during January 28 - February 16, and pulled back from February 17. The most traded SHFE SS contract dropped by more than 600 yuan/mt and fell below the 5-day and 10-day moving averages, gaining support at 30-day moving average.

Feb 23, 2022 17:32

SMM Insight

Stainless Steel Prices Are Likely to Remain Rangebound after Pulling Back

A Super Large Gold Mine Is Discovered in Henan, the Reserve May Reach 500,000 mt

According to the Bureau of Geology and Mineral Exploration and Development of Henan Province, a super large gold mine has been discovered near Weishancheng, Zhuzhuang Town, Tongbai County in Henan.

Oct 27, 2021 16:33

Industry

A Super Large Gold Mine Is Discovered in Henan, the Reserve May Reach 500,000 mt

LME Copper Basically Stable during Holiday, Short Squeeze May Occur before SHFE Contract Delivery 【SMM post-holiday review】

Three-month LME copper closed at $9,136/mt in the intraday trading on September 30, and settled at $9,142/mt on October 7, up $6 or 0.06%.

Oct 8, 2021 11:10

SMM Comments

LME Copper Basically Stable during Holiday, Short Squeeze May Occur before SHFE Contract Delivery 【SMM post-holiday review】

State Council: To Accelerate the Introduction of Foreign Participants to Dometic Futures Market

The State Council recently announced that it will accelerate the introduction of foreign market participants to engage in the construction of international commodity futures market with products denominated and settled in RMB.

Sep 3, 2021 14:42

Industry

State Council: To Accelerate the Introduction of Foreign Participants to Dometic Futures Market

Lead Futures Rebounded after Hitting Lows, Stocks Diverged in China and Overseas Markets

LME lead stopped declining after dropping to the line of $2,250/mt and closed at $2,300/mt, reaching a high of $2,343/mt.

Aug 17, 2021 14:04

Analysis

Lead Futures Rebounded after Hitting Lows, Stocks Diverged in China and Overseas Markets

Stainless Steel Prices to Remain Fluctuating at High Levels in Aug

Stainless steel futures prices continued to rise in July. As of July 30, the most traded stainless steel contract closed at 19,995 yuan/mt, an increase of 3,165 yuan/mt or 18.8% from the end of June. However, the prices fell sharply in the first two trading days in August.

Aug 4, 2021 11:30

Analysis

Stainless Steel Prices to Remain Fluctuating at High Levels in Aug

SMM Evening Comments (Jul 27): Iron and Steel Closed Down over 1%

The nonferrous metals market closed the day with mixed performances.

Jul 27, 2021 19:00

SMM Comments

SMM Evening Comments (Jul 27): Iron and Steel Closed Down over 1%

Peru 7 Metals Output Increases in June

Peru’s output of seven metals grew in June, according to Peruvian government.

Aug 7, 2017 10:14

Industry

US Mint to start taking orders for 2017 Gold, Silver Coins on January 9

The U.S. Mint reports that production of certain 2016-dated coins has ended and orders will be accepted for 2017-dated coins starting January 09.

Dec 2, 2016 11:12

Industry

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Gold Futures Gain 0.2% After Decline; Silver Advances 0.4%

SMM Events & Webinars

NET ZERO EUROPE - Solar & Energy Storage Summit

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit