Rohstoff- und Minenbranche: Der Wochenrückblick von Haywood

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The Weekly Dig

Mick Carew, PhD, mcarew@haywood.com

Haywood Mining Team

Metal Prices Volatile Amid Trump Nomination & Turkish Coup/German Shooting

§  Commodity prices, and equity markets in general, fluctuated during the week as several events in the U.S. and Europe unfolded. In the U.S., strong macroeconomic data coincided with Donald Trump’s acceptance of the Republican Presidential nomination. With Trumps’ campaign providing constant controversy over the past year, the republican convention saw Trump accept the GOP’s presidential candidate nomination amid a torrent of provocative commentary, speech writer blunders and counterparty protestations culminating in a blanket of media coverage. Alongside the controversial nominee’s acceptance speech was more positive macroeconomic data including robust jobs figures and housing data. In Europe, the aftermath of the Turkish coup played out with many country leaders raising concerns after the government imposed a state of emergency. Meanwhile, in Germany, a shooting spree in a Munich shopping mall follows the terrorist attack in France last week.. As these events transpired, precious metal prices fluctuated, with gold plunging as low as $1,312 per ounce during intraday trading on Wednesday before recovering to finish at $1,331 per ounce on Friday. Silver (↓3%) and platinum (↓1%) were also down this week, finishing at $19.69 and $1,083 per ounce, while palladium gained 5% to finish at $685 per ounce. Base metals were mixed; copper (↑0.2%), nickel (↑1.3%) and zinc (↑1.7%) were all up, while lead fell 2.1% to finish at $0.83 per pound. Both the S&P/TSX Composite and Venture Indices were up, finishing 0.8% and 0.3% higher for the week. WTI prices were down 5.5% for the week, while the UxC Weekly Spot Price of uranium was up slightly (↑1.5%) closing at $25.50 per pound on Friday.

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Quelle: stockcharts.com