Category: Gold news

The price of gold rose to near its highest level in two weeks in early trade in Asia on Wednesday, retaining the big gains the previous day as the increasing tensions over Ukraine boosted the appeal of the precious metal as a safe haven .

By the time 0021 GMT, the price of spot gold to $ 1309.22 per ounce ( an ounce ) , up 0.1 per cent. Gold had jumped 0.9 percent in the previous session. The record price of gold to $ 1314.43 its highest level in two weeks on Tuesday .

The prices of gold futures on COMEX 0.06 per cent to 1309.9 dollars per ounce .

And settled the price of silver in online transactions without change to $ 19.99 an ounce and platinum price rose 0.19 percent to 1436.5 dollars per ounce and palladium , which also increased 0.21 percent to 773.75 dollars an ounce

Gold edged lower on Friday as the market nervously awaited U.S. nonfarm payrolls data, heading for its longest weekly losing streak in over six months as equities firmed and optimism grew about the U.S. economy.

Investors in gold, which is often seen as a hedge against economic uncertainty, are eyeing the U.S. jobs report later on Friday to gauge the strength of the economy and any potential impact on the Federal Reserve`s stimulus measures.

A weak report could boost gold`s appeal as a safe-haven, while a strong report could prompt speculation that the Fed will lift rates earlier than previously expected.

Median forecasts are for a rise of 200,000 in payrolls.

“If payrolls fall short of the 200,000 mark, that would potentially support gold prices, though it is unlikely prices will break above USD 1,300,” said Joyce Liu, an analyst at Phillip Futures.

“But if it`s a strong report, we will definitely see some downside and potentially break below USD 1,276.”

Spot gold slipped 0.1 percent to USD 1,286.10 an ounce by 0318 GMT. The metal is down 0.6 percent for the week, on track for a third straight weekly loss. That would be its longest weekly losing stretch since August-September.

Prices were trading in a tight USD 3.86 range – the smallest trading band since December 25.

Liu said any support from physical demand, which could pick up at lower prices, would be offset by technical bearishness.

Physical demand has in fact weighed on prices, as buying interest from top consumer China has dropped off considerably.

Shanghai prices, which were at a premium of over USD 20 an ounce to spot prices at the beginning of the year, are now at a discount of about USD 2.

In No.2 buyer India, the central bank has indicated that it is considering removing some of the curbs on gold imports – a move that could potentially ease premiums and boost demand.

A pick-up in buying from India, which was until last year the biggest gold consumer, could provide some support to gold prices.

Among other precious metals, platinum and palladium were heading for weekly gains on supply worries.

Strikes in South African mines have forced platinum producers such as Lonmin to declare force majeure with some contractors.

Palladium supply fears are also being fuelled by geopolitical tensions in Russia, the top producer of the metal.

Gold record the lowest level in six weeks on Thursday and went down to about $ 1,300 an ounce for the first time since mid-February with exposure to price pressure due to speculation that U.S. interest rates will rise faster than expected and the decline of tensions over Ukraine .

Traders said selling accelerated with the descent of the metal on the level of technical support psychologically important $ 1,300 an ounce and the moving average day in 1296 to two hundred dollars an ounce . Prices fell to its lowest level since Feb. 13 at 1291.36 dollars an ounce .

At 1215 GMT, the spot price of gold was up 0.8 percent to 1292.99 dollars an ounce , taking its losses this week to three percent . The U.S. gold futures fell for April delivery to $ 9.40 an ounce to U.S. $ 1294 .

Silver fell in online transactions 0.2 percent to 19.64 dollars an ounce .

Platinum was down 0.1 percent to hit U.S. $ 1397.25 an ounce and palladium fell 2.4 percent to 756.75 dollars

Gold prices fell by about two percent on Monday to incur the biggest daily loss in nearly two months with Iqbal hedge fund selling amid fears that called for higher interest rates in the United States spark further decline after rally recently that pushed gold to the highest level in six months.

The precious metal fell to its lowest level in a month near $ 1,300 an ounce ( oz ) .

The precious metal fell 3.5 percent last week and recorded a sharp decline after that surprised the president of the Federal Reserve ( the U.S. central bank ) global markets on Wednesday when he pointed out that interest rates may rise faster than expected .

The inn ‘s gold dealings immediate 1.9 percent to 1208.70 dollars an ounce at 1857 GMT , its biggest daily loss since Jan. 30 . Fell earlier to 1307.54 dollars an ounce the lowest level since Feb. 14 .

The U.S. gold futures fell for April delivery settled at 24.80 dollars to 1311.20 dollars an ounce .

Palladium rose to its highest level in two and a half year with the continuation of the miners’ strike in South Africa and exacerbate tensions in Ukraine and the launch of the two funds , honor indicators Balbladiom in Johannesburg , prompting fears of insufficient supplies to meet demand .

Palladium rose to its highest level since August 2011 at 799.50 dollars an ounce and later rose 0.2 percent to 790.90 dollars.

And silver fell 1.6 percent to 19.93 dollars and platinum lost 0.5 percent to 1424.25 dollars an ounce

(Reuters)

Gold market has seen its biggest weekly decline since November in the wake of the latest index from the Federal Reserve ( the U.S. central bank ) to increase interest rates may come in early 2015 .

The Chair of the Board , Janet Yellen , surprised the markets this week Btelmahaa that the bank may begin raising interest rates early next year .

The price of spot gold 0.5 percent to 1334.76 dollars per ounce at 18:32 GMT, Thursday after it fell to 1320.24 dollars an ounce , the weakest level since the end of February

Silver rose 0.3 percent to 20.29 dollars an ounce , and platinum 0.1 percent to 1427.70 dollars.

And palladium jumped 3.0 percent , to 785.59 dollars an ounce , its highest level since August 2011 with the support of the launch of two boxes of indicators in South Africa , and the expansion of Western sanctions on Russia , the main producer of the metal.

Gold prices rose amid weak trading in Asian trade on Friday, but they tend to record the biggest weekly decline since November, with the rise of the dollar after the U.S. central bank signaled an increase in interest rates in the first half of 2015.

By the time 0445 GMT, the price of gold for immediate sale of $ 1333.80 an ounce , up 5.91 dollars from the closing price on Thursday when he fell during the session to 1320.24 dollars , its lowest level since the end of February.

And increased U.S. futures of gold to $ 3.80 to $ 1334.30 an ounce .

The precious metal jumped for some time on Monday to 1391.76 dollars , its highest level in six months, supported by tensions in Ukraine and concerns about growth in China .

Data from the Federation of the gold industry in India said on Thursday that the country’s exports of gold jewelery increased by 1 percent in February to 718.36 million dollars from a year ago .

The fluctuation of the U.S. dollar , near its highest level in three weeks against a basket of major currencies in Asian trade today , but may find it difficult to continue to climb as investors awaited more clarity on the course of monetary policy for the Federal Reserve

Gold fell sharply to its lowest level in three weeks on Thursday, with the rise of the dollar, after a reduction of support for the U.S. economy by the Federal Reserve, “the U.S. central bank” to stop him and the expectations of the program to buy bonds in the fall of 2014.

Despite the severity of the crisis , however, the Ukrainian market is still suffering from the weak buying in China’s largest gold consumer in the world after the sharp decline in its currency.

Chinese growth and reduce the bond buying most of Ukraine
The Janet Yellen said in her first press conference as head of the Fed , after a meeting of the bank that the possibility of a two-day ” initiate bank to raise interest rates after 6 months of the termination of the current program to buy bonds .”

And reflected on trading and metals markets in the world, retreated at 1325.34 dollars an ounce, its lowest level since 28 February , and then settled at 1331.60 dollars.

The gold rose briefly to a peak in the six months to 1391.76 dollars Monday because of Ukraine and concern about growth in China .

Continuing decline
The director of trading at Wing Fung Precious Metals in Hong Kong Peter Fung ” is still demand in the market was very quiet and slow , but the market may recover and rise to a limited extent .”

Fong added that “the decline in gold to around $ 1,300 an ounce Ward .”

Gold futures fell and U.S. delivery April Dolarellonsh 9.20 to 1332.10 dollars after they recorded earlier to $ 1326.10 , the lowest price since the end of February .

SINGAPORE (Reuters) – Gold fell from its highest level in six months during Asian trading on Tuesday after gains in global equities undermined its appeal as an investment alternative , although the tensions on the Crimean peninsula still give some support to the precious metal .

The price of gold for immediate sale to 1362.30 dollars an ounce by 0115 GMT, time after it was jumped on Monday to 1391.76 dollars , its highest level since the ninth of September, before starting to decline due to profit-taking .

The futures contract fell U.S. Gold 0.72 percent, to 1362.90 dollars an ounce .

Analysts said the rise of recent gold to its highest level in six months, probably raises another jump ascend to the high levels recorded in the second half of 2013 but that may be followed by a sharp drop in prices paid for several to their lowest level in three years , which plunged her last year

(Reuters) – Gold rose to its highest level in six months on Monday due to continuing caution of risk after the vote on the Crimean peninsula to secede from Ukraine and Western sanctions on officials from Russia and Ukraine .

The Minister of Foreign Affairs of Lithuania and the European Union foreign ministers agreed to impose sanctions include travel bans and a freeze on the assets of 21 officials from Russia and Ukraine .

Spot gold record and the highest level since the ninth of September 1391.76 dollars an ounce before falling back by the time 1410 GMT, 0.3 percent to 1377.55 dollars per ounce .

And rose gold futures in the American Stock Exchange Comex to near the highest level in six months, to $ 1392.60 an ounce before retreating 0.1 percent to 1377.77 dollars an ounce .

Gold rose 15 percent this year, and was on his way to achieving the largest quarterly gain in 27 years, with the increasing political tensions and worries about economic growth , which spurred demand for the metal as a hedge against risk .

Silver fell 0.7 percent to 21.32 dollars an ounce .

Platinum rose 0.5 percent to U.S. $ 1469.24 and palladium 0.4 percent to 769.50 dollars an ounce