The Comex gold futures rose 1.70% last week when the Chinese Renminbi depreciated unexpectedly on Aug. 11. This week, the gold futures rose 0.38% and ended at $1,116.60 per ounce on Tuesday. In contrast, the Dollar Index dropped 1.07% to $96.52 and the crude oil futures plunged 3.12% to $42.50 per barrel last week.
The U.S. Comex gold futures surged 1% on Monday and ended at $1,096.20 on Tuesday after dropping four percent last week. The Dollar Index has fallen a further 0.5% this week after declining 0.63% last week.
The U.S. Comex gold futures has declined 1.21% this week to $1,143.90 and has fallen 2.38% month-to-date. This week, the S&P 500 Index has risen 2.31% and the Euro Stoxx 50 Index has surged 4.21% while the crude oil futures have declined 3.47%.
The U.S. Comex gold futures fell 0.48% last week and dropped a further 0.38% this week to $1,153.50 on Tuesday. The implied volatility of the gold futures has been falling from 21% in January to 11.5% currently in line with the decline in prices.
Markets are asking: what will happen to Greece in the 5 July referendum? What will the Fed do in September in light of the mixed economic data and global development? What will the Chinese stock markets do next week?
The U.S. Comex gold futures rose 1.93% last week but fell 2.11% this week to $1,176.60 on Tuesday. The S&P 500 Index rose 0.68% this week while the Euro Stoxx 50 Index surged 4.97% and the crude oil futures jumped 2.35%.
The U.S. Comex gold futures jumped 2.14% to $1,202 on Thursday, climbing the most since May 13 thanks to the more tempered outlook from the Fed’s Chair. The S&P 500 Index rose 1.21% while the Euro Stoxx 50 Index was flat in the past two days.