Category: Gold news

Gold fell more than 1.6 percent on Thursday, with investor sentiment hurt by continued speculation about the future of monetary stimulus in the United States .

Although the European Central Bank and the Bank of England and originally refrain from any new action in their policies , the market’s attention focused on the features of U.S. economic indicators reflected by any statements regarding when he might begin when the Federal Reserve ( the U.S. central bank ) to reduce its own program of bond purchases .

The published data showed Thursday that the U.S. economy grew at a faster pace than expected in the third quarter of the year in addition to the decline in jobless claims for the first time unexpectedly last week, which indicates a recovery in the labor market .

Gold fell in the spot market transactions in the latest 1.6 percent from the previous close to 1222.80 dollars an ounce after declining earlier in the session to 1220.74 dollars.

The precious metal has achieved its biggest gain in more than a month on Wednesday, with investors in excessive betting on lower prices. The impact of technical factors larger than the strong U.S. data private employment in the private sector and the growth of the services sector ahead of non-farm payrolls data on Friday .

Silver fell two percent to 19.29 dollars an ounce .

Platinum fell 0.8 percent to 1357 dollars per ounce .

And palladium fell 0.3 percent to 726.72 dollars an ounce

Gold prices fell on Thursday after a rally the support of buying to cover short positions in the previous session, influenced by fears of the start of the Federal Reserve ( the U.S. central bank ) will soon reduce monetary stimulus program due to strong economic data .

The prices of the precious metal has the highest rate in more than a month on Wednesday despite strong data regarding employment in the private sector and the growth of the services sector ahead of non-farm payrolls data on Friday .

The gains came backed cover short positions after the price of gold fell to its lowest level in five months for the third consecutive session .

The price of gold in the spot market 0.4 percent to 1237.94 dollars an ounce by 0659 GMT, time after increasing 1.6 percent in the previous session .

The price of silver fell 0.5 percent to 19.58 dollars an ounce .

The price of platinum fell 0.5 percent to 1361.25 dollars an ounce and palladium down 0.42 percent to 721.47 dollars per ounce

The price of gold has risen about 2 percent on Wednesday , its biggest daily rise in more than a month after he overwhelmed cover to the Centers for selling and buying of new investment funds on fears of approaching the Fed to reduce its asset purchase program .

After coming off 1 % to its lowest level in five months earlier in the session , the precious metal jumped $ 25 during the middle of New York trading , breaking through and for a short time the level of $ 1,250 an ounce , despite the report of better -than-expected U.S. private sector jobs .

Said James Steel, chief analyst for precious metals at HSBC , ” We think that the combination of the coverage centers and buying hedge funds may have helped in the rise of the metal market report after private-sector jobs .”

Was trading more than 32,000 contracts, within 40 minutes , which represents five trading Thursday , according to Reuters data showed .

Gold rose in online transactions 1.6 % to U.S. $ 1,243 by the time of the Aouka 21:16 GMT, after penetrating the average move in 14 days and reached U.S. $ 1,250,30 .

Earlier in the session , gold fell to 1,211 dollars an ounce, the lowest level in five months .

Analysts said that the report of private sector jobs open the door to start the Fed to reduce its purchases of bonds during the next few months .

Said Jonathan Two husbands , a trader optional contracts for gold Stock Exchange Comics , “It’s a new financial year for commodity funds , which returns to the market in conditions of oversold .”

Most commodity funds begins its fiscal year in early December

Investors are awaiting the U.S. GDP on Thursday and non-farm payrolls report on Friday before the next meeting of the Federal Reserve on 17 and December 1.

Among other precious metals , silver outperformed gold to rise 3.6 % to 19.80 dollars an ounce .

Trading gold prices within a narrow range , showing some rise amid cautious and keep an eye out public investors for U.S. data that will be released later this week , which will contribute to determine the future program of quantitative easing pursued by the U.S. Federal Reserve since more than a year , either for oil prices have risen today strongly after positive U.S. data released yesterday .

Gold prices had fallen Basra yesterday after a strong rise in the pace of growth in the industrial sector in the United States to the highest level since April of 2011 , thereby increasing expectations of the fact that the U.S. Federal Reserve to reduce the quantitative easing program amounting to 85 billion dollars a month .

Predominantly caution in dealings investors these days , whether in the commodity markets , or even the stock markets , where live markets currently kind of anticipation of the U.S. data , which will be released this week , which will be the most prominent of which is the jobs report and the report of gross domestic product next to report income , where will this data Give look how good the largest economy in the world, and how it needs to extend the work program of quantitative easing .

We are on a date in 18 of the month of December with the current decision of the U.S. Federal on interest rates , which is expected to remain members of the federal rates  at their historic low of 0.00 % – 0.025% with a reduced program of quantitative easing as shown by the last minutes of the committee meeting last month

Sales of gold and demand increase in the UAE by 2% during the third quarter of this year to reach 2.3 billion compared to AED 2.2 billion dirhams for the same period last year, to top it states in the Middle East and the only check growth, according to the report of the World Gold Council.

The report stated that while it is grown gold sales in the UAE, the decline in demand in the Middle East in general by 9% during the third quarter of this year, and recorded Saudi Arabia declined by 4%, Turkey 14%, Russia 15%, with stable sales in Egypt.

The report of the World Gold Council that markets many others saw a decline in the third quarter of this year, such as the markets of the United States by 19%, India 46%, China, Hong Kong 5%, and a decline in Taiwan 22%, Italy 25%, Britain 31 %, Germany 10%, the percentage decline of 60% in France.

Report data showed that sales growth in the yellow metal in the UAE during the third quarter pushed the growth of aggregate demand during the first nine months of this year increased by 12% in value to reach 13 billion compared to AED 11.6 billion dirhams in the same period of last year.

The report indicated that the third quarter of 2013 saw a growth in the amount of gold sales by 28 percent to 14.6 tons compared to 11.5 tons in the same period of comparison from last year, came the growth in demand for gold jewelry in Ceuta 26%, up to 11.9 tons, compared to 9.5 tons.

At the level of the quantities of gold demand in the field of investment securities in the United Arab Emirates grew by 35%, bringing in size to 2.7 tons, in the third quarter of 2013, compared with stilted in the same quarter of 2012.

The value of the demand for gold jewelry in the markets of the state 1.86 billion compared to AED 1.84 billion dirhams for the same period of comparison growth of 1%, and the value of gold demand in the field of investment in the third quarter of 2013 approximately 423 million compared to AED 390 million dirhams, a rise of 8%.

Gold prices rose slightly higher on Tuesday refreshed its lowest level in five months, which is noted in the earlier transactions and with the rise of crude oil and the dollar rebounded since the dawn of the sharp decline of gold prices the previous session, buying cheap deals for phishing .

By the time 2027 GMT, the spot price of gold up 0.2 percent to 1221.64 dollars per ounce .

Gold rose U.S. $ 1.1 to U.S. $ 1222.6 per ounce .

The price of silver in online transactions 0.3 percent to 19.07 dollars an ounce .

Platinum rose 1.1 percent to 1352.25 dollars and palladium rose 0.4 percent to 711.97 dollars per ounce

Gold rose slightly as the dollar fell , but the precious metal is still heading for the biggest monthly loss since June , amid signs that the U.S. economic recovery may lead to the withdrawal of monetary easing program .

Gold lost 6 % this month and has lost more than a quarter of its value so far this year , which puts him in the path toward recording the largest annual loss in 13 years.

Gold remained below $ 1,300 over the past three weeks and moved in the range of casual to a large extent in the past few sessions due to weak trading as a result of the Thanksgiving holiday in the United States .

By 10:45 GMT , gold rose 0.2 % to instant 1,245 dollars an ounce .

The metal fell on Monday to its lowest level in four and a half months at 1,227 dollars. The futures rose U.S. Gold 0.6 % to 1,245 dollars an ounce .

And traders expect the next resistance levels at 1,255 and $ 1,290 dollars, while the support area at 1,220 dollars.

The dollar fell 0.2 % against a basket of currencies , while European shares rose .

Gold fell back from a one-week high on Tuesday and remained vulnerable to further losses on uncertainty over the U.S. stimulus outlook and lacklustre physical demand.

Spot gold fell 0.5 percent to $1,246.61 an ounce at 1257 GMT. It hit $1,256.49 in early trade, its highest since Nov. 20.

U.S. gold futures were up 0.4 percent to $1,246.20 an ounce.

On Monday, spot gold fell to a 4-1/2-month low near $1,225 an ounce after a deal halting Iran’s most sensitive nuclear activities drove oil prices lower and lifted the dollar and equities.

But prices recovered to gain nearly 1 percent as investors covered short positions, while options-related buying also helped the metal higher.

Gold fell below $1,300 an ounce on Nov. 7 after a series of positive U.S. economic data raised speculation that the Federal Reserve would taper its economic stimulus before the end of the year.

Traders expect prices to be pressured until there is a definitive timeline on when the U.S. Federal Reserve will begin cutting its quantitative easing programme.

“No significant data will be published this week and gold will be more or less treading water and will be driven probably by the U.S. dollar and ongoing discussions on when the Fed will start tapering,” Commerzbank analyst Daniel Briesemann said.

Gold prices have lost about a quarter of their value this year on fears the Fed would begin tapering the $85 billion in monthly bond purchases that have burnished bullion’s appeal as a hedge against inflation.

The next major data release is on Dec. 6, when nonfarm payroll data is scheduled. The Fed’s next policy meeting will be held on Dec. 17-18.

The dollar index was down 0.2 percent as U.S. 10-year Treasury yields slipped after data on Monday showed contracts to buy previously owned U.S. homes hit a 10-month low in October.

“Given the market is still positioned short, we can continue to expect bouts of volatility,” ANZ analysts said in a note.

“The overnight move does little to change our view that the market will continue to trade in a weak fashion while physical demand remains lacking.”

LOW DEMAND

Physical demand, which usually provides a floor to prices, has failed to pick up the way it did earlier this year when prices fell over $200 an ounce in two days.

Buying picked up when prices fell below $1,230 on Monday but quickly died down as these shot up again, dealers said.

Premiums in Shanghai for 99.99 percent purity bars fell to about $8 an ounce on Tuesday from $13 in the previous session.

Outflows from gold funds continued, with SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund, losing 3.30 tonnes on Monday. Outflows from the ETF, about 450 tonnes so far this year, have played a big role in denting prices.

Silver extended earlier losses, falling 1.5 percent at $19.99 an ounce, having touched its lowest since mid-August at $19.54 in the previous session.

Spot platinum lost 0.5 percent to $1,376.74 an ounce, while spot palladium dropped 0.4 percent to $715.97 an ounce. (Additional reporting by A. Ananthalakshmi in Singapore; editing by James Jukwey)

Gold settled near its highest level in a week in Asian trade on Tuesday, supported by purchases to settle short positions in the previous session, but it still seems likely to fall with the survival of the actual demand sluggish amid uncertainty surrounding the timing to reduce stimulus measures in the United States .

The price of gold for sale for cash of $ 1252.26 an ounce at 0445 GMT, after the record in early trading to $ 1256.49 , the highest level since the twentieth of November.

Gold prices fell for the sale of cash on Monday to its lowest level in four and a half months near 1225 dollars an ounce, before recovering to earn about 1 percent subsidized purchases to settle the city centers and the processes associated with purchase contracts optional .

The decline in the precious metal for $ 1,300 three weeks ago, has not been able since then to return to that level. Traders expect prices to come under pressure to show that the specified time frame on when he might start the U.S. Federal Reserve reduced its economic stimulus

Noted data from the International Monetary Fund on Friday that Germany has reduced its holdings of gold by 3.421 tonnes in October.

Germany is one of the first ten countries in the world in terms of gold reserves.

According to IMF data, the German central bank now has reserves of gold size 3387.25 tons

Turkey’s holdings of gold rose for the fourth consecutive month in October.

According to IMF data, the Turkish central bank increased its holdings of the precious metal in October by 12.994 tonnes to 503.255 tonnes.

And a series of increases in gold holdings due largely to the central bank last year allowed for commercial banks that retain a share of the gold within their reserves of cash in local currency