Stronger Dollar Pushes Down Gold, Silver, and Crude (GLD, GDX, SLV, SIL, USO, OIH)
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…
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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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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.