Category: Gold news

Gold price down to its lowest level since July after expectations that the U.S. Federal Reserve begins to reduce the stimulation and pumping money into the markets is likely to be so in future meetings , especially if there is further improvement in the labor market .

The quantitative easing program is the leader of strong gains for gold prices in recent years and is now heading for a record first annual loss since 2001 and about 700 tons came from holdings of index funds traded powered gold and topped Fund Spider Gold Trust , who alone out of him 450 tons and landed to 856.7 tons, which is the lowest since the beginning of 2009.

The World Gold Council noted that the demand is at its lowest level in four years in the third quarter and was relegated size Indian consumption of gold fell by about 32% in the third quarter to almost 148 tons , the lowest level since the beginning of the year 2009 . On the other hand tends to recording the biggest weekly loss in more than two months and the price of gold is heading to the silver with a weekly loss of up to 4 % and retarded since the beginning of the year about 25 %

Gold was trading near its lowest level in four months on Thursday after posting the biggest loss in his seven weeks in the previous session, weighed by concerns from the start of the Federal Reserve to reduce monetary stimulus program in support of the commodity in the next few months .

The minutes of the meeting showed the Monetary Policy Committee and the Federal Reserve released Wednesday that officials may decide to start reducing its program to buy assets worth 85 billion dollars a month in one of the next few meetings on the basis of economic growth .

The price of gold in the spot market 0.2 percent to 1245.56 dollars an ounce by 0747 GMT time , but did not stray far from its lowest level in four months , which struck on Wednesday at 1240.69 dollars an ounce when gold and silver was down 2.5 percent .

In terms of other precious metals silver rose 0.45 percent to 19.88 dollars an ounce .

And platinum rose 0.13 percent to 1391.1 dollars, while palladium rose 0.28 percent to 710.97 dollars an ounce

Gold fluctuation in the Asian market on Wednesday with a narrow range of trading near the lowest level in a week amid investors awaited the release of the minutes of the last meeting of the Federal Reserve in search of new indicators to keep the Council on bond-buying program for the longest possible period.

Gold ended the trading day Tuesday without little changed after recording its lowest level in a week $ 1269.07 per ounce as investors assess the statements of monetary policy makers in the United States about the growth prospects of the economy and the date of commencement of policy easing stimulus .

Gold is trading by 08:06 GMT , around $ 1272.44 per ounce from the opening level of $ 1274.60 , and recorded the highest level of $ 1276.32 and the lowest level of $ 1271.10 .

Minutes of the Federal Reserve

Awaits investors today the release of the minutes of the last meeting of the Federal Reserve for clues to the start of the new Council in reducing monetary stimulus program .

And Ben Bernanke , chairman of the Federal Reserve Board to keep interest rates low until it is fully completed bond-buying program estimated value of $ 85 billion per month.

In the meantime , is expected to play on Wednesday to U.S. banks Congressional Committee to vote on the appointment of Janet Yellen that U.S. President Barack Obama’s candidacy was the first woman to lead the Federal Reserve , ” the U.S. central bank .”

Janet Yellen was hinted last week that the Federal Reserve will continue to follow the monetary policy stimulus for some time.

As investors awaited data to measure inflation , the U.S. economy amid forecasts point to a recession in consumer prices during the month of October .

Gold fell by 24 percent this year amid speculation that refer to the Federal Reserve to reduce monetary stimulus program .

SPDR Fund

Gold holdings fell to the SPDR Gold Trust Fund ‘s largest gold – backed ETF in the world to the level of 863.01 metric tons on Tuesday , the lowest level since February 2009.

Gold futures rose as the dollar’s drop boosted demand for the metal as an alternative asset. Platinum and palladium rebounded from four-week lows after South Africa’s main utility declared a power emergency.

The Bloomberg U.S. Dollar Index dropped to the lowest in almost two weeks on speculation that Federal Reserve officials will reiterate that economic growth isn’t yet sufficient to trim stimulus. Janet Yellen, nominated to lead the central bank, has said the the labor market must improve before policy makers can consider tapering.

“The dollar is helping gold,” Dean Popplewell, a currency analyst at Toronto-based Oanda Corp., said in a telephone interview. “The timing of the tapering will continue to be the guiding force.”

Gold futures for delivery in December advanced 0.2 percent to $1,274.40 an ounce at 11:19 a.m. on the Comex in New York. Through yesterday, the price tumbled 24 percent this year, heading for the first annual drop since 2000.

Platinum futures for January delivery climbed 0.5 percent to $1,418.10 an ounce on the New York Mercantile Exchange. Earlier, the price touched $1,405.10, the lowest for a most-active contract since Oct. 17.

Palladium futures for December delivery rose 0.4 percent to $719.50 an ounce. Earlier, the price touched $713.30, the lowest since Oct. 17. Trading more than tripled compared with the 100-day average for this time, according to data compiled by Bloomberg.

Eskom Holdings SOC Ltd., which generates almost all of South Africa’s electricity, said it will make “every effort” to avoid rolling blackouts after requiring key industrial customers to reduce usage by at least 10 percent.

In 2008, blackouts shut mines for five days. The nation accounts for 72 percent of platinum mine supply and 36 percent of palladium output, according to Barclays Plc.

Silver futures for December delivery fell 0.1 percent to $20.345 an ounce on the Comex. Earlier, the price touched $20.20, the lowest since Aug. 9.

oriented gold prices continued to rise in the past three days, and prices were near $ 1,300 an ounce, thanks to the statements made ​​by the Fed hopes that stays on the policy of monetary easing what enhances the lure of the yellow metal as a hedge against inflation.

Decline Spot gold 0.2% to 1286.96 dollars an ounce , and is heading gold to end the rally lasted for three days today but prices are stable near $ 1,300 an ounce, thanks to hopes that keeps the Federal Reserve ( the U.S. central bank ) policy monetary easing what enhances the temptation yellow metal as a hedge against inflation .

The price of the precious metal rose 2% in the past three days , thanks to expectations that Janet Yellen candidate for the presidency of the Fed will keep the bond purchase program worth $ 85 billion per month.

With the loss of gold to nearly 25% since the beginning of the year as a result of fears of reduced stock purchase program Booster Gold as the U.S. economy improves .

Silver fell 0.5 % to $ 20.66 an ounce , as well as platinum fell 0.27 % to $ 1433.6 and palladium 0.56 % $ 726.22 an ounce.

China ranked the top of the standings in the global gold consumption during the third quarter of this year , reaching their purchases , during this year , 798 tons.

Thus exceeded its Asian counterpart China , India, the largest consumer of the precious yellow metal as recent bought 715 tons during the same period , according to the World Gold Council report .

The Council cut its forecast for consumption in India rose 10 per cent to 900 tonnes , compared to China ‘s thousand tons by the end of this year .

The demand comes driven by Putnam fast to slice medium households in the country with a population of 1.5 billion people , and the increasing rate of spending among consumers despite the slowing economy , after decades of steady growth.

He explained Albert Cheng , head of the Far East Gold Council : ” rising incomes and a growing middle class in China is the motive behind the rise in demand.”

The Chinese stocks and real estate , along with the precious metal the best means of investment.

The decline in demand for the precious metal in India , the largest state in terms of the traditional consumption of gold in the world, by 32 per cent during the last quarter of the year, the impact of government – imposed restrictions on the import of gold and raise taxes .

More than 10 days and still the price of gold is trading below the levels of $ 1,300 and record the lowest level at $ 1,260 , although strong demand from China for jewelry and gold coins contributed to mitigate somewhat of a decline in price of the yellow metal after it fell strongly beginning in the month of April and beyond in a month June

Analysts say that China will import more than 10.00 tons of gold this year and  first place from India a title   of gold in the world after it introduced the Indian government some difficulties on the import of gold in order to reduce the deficit in the trade account , which reached record levels and was the first reason in deterioration of the Indian currency in recent months, and also point out that China ‘s demand for gold will not record its highest level only after 6 to 8 weeks of the date on which the Chinese New year .

Gold could not on Tuesday, recovering from losses the previous day’s sharp fret concerned investors about the timing of the start of the program to reduce monetary stimulus in the United States at a time of weak demand .

Gold rose last week after he caught a glimpse of Janet Yellen candidate for the presidency of the Federal Reserve ( the U.S. central bank ) to the continuation of ultra monetary policy easing . And increases the Central American program to buy bonds with a value of $ 85 billion per month of the lure of gold as a hedge against inflation.

However, the two senior officials of the Council pointed on Monday to improve the U.S. economy is what gives weight to the possibility that reducing the pace of bank bond purchases soon .

Gold rose in online transactions 0.1 percent to $ 1274.96 an ounce by 0739 GMT , had 1.2 percent on Monday.

And silver fell 0.34 percent to 20.31 dollars.

Platinum fell 0.12 percent to $ 1406.24 Palladium also lost 0.17 percent to $ 713.47

The price of gold fell on Monday after recovery pushed stocks and weak demand traders to profit from three days of gains , although for the precious metal on the support of speculation constantly monetary stimulus from the Federal Reserve ( Fed ) .

The speculation that helped Janet Yellen the next president of the Federal Reserve policy of monetary easing will continue to support gold last week, but encountered stiff resistance at about 1294 dollars per ounce .

On the stock markets rebound concentration of some investors away from gold.

The Inn Spot gold 0.7 percent to $ 1281.26 an ounce by the time of 1524 GMT . The price of the precious metal rose more than $ 20 an ounce in the past three days after he scored on Tuesday , the lowest level in the month of $ 1260.89 an ounce.

Futures fell U.S. gold for delivery in December $ 6.50 an ounce to $ 1280.90 an ounce.

I got silver in online transactions 0.9 percent to 20.57 dollars an ounce as platinum fell 1.4 percent to 1417 dollars and 1.7 percent palladium $ 718.22 an ounce

Gold tends to end a rally that lasted for three days on Monday, but the prices are stable near $ 1,300 an ounce , thanks to hopes that keeps the Federal Reserve (Fed ) monetary easing policy enhances the lure of the yellow metal as a hedge against inflation .

The Inn Spot gold up 0.2 percent to $ 1286.96 an ounce by 0741 GMT . The price of the precious metal rose two percent in the past three days , thanks to expectations that Janet Yellen candidate for the presidency of the Fed will keep the bond purchase program worth $ 85 billion per month.

Gold lost 25 percent of its value since the beginning of the year as a result of fears of reduced stock purchase program Booster Gold with the improvement of the U.S. economy.

And silver fell 0.5 percent to $ 20.66 an ounce and platinum also fell 0.27 percent to $ 1433.6 and palladium 0.56 percent 726.22 dollars an ounce