Category: Gold news

Gold prices rose during European trading Friday morning, while the outlook remained limited gains at a time when strong US economic data and the recent fluctuations reduced it in the stock markets of Asian demand for gold as a safe haven.

Gold for December delivery rose 0.55% to record US $ 1.129.00 per ounce.

The December contract ended during Thursday’s trading session down by 0.18% currently trading at $ 1.122.60 per ounce.
The gold is likely to find support at $ 1.117.00 an ounce, the lowest price on Thursday, and resistance at $ 1.146.00 per ounce for the highest price on Wednesday.

Gold has come under pressure selling prices after the US Commerce Department announced on Thursday that gross domestic product rose at an annual rate of 3.7% in the three months ended June 30, above expectations for a growth rate of 3.2%.

And stimulated the growth of primary data in the United States to 2.3% in the second quarter. The US economy grew by 0.6% in the previous quarter.

Separately, the Labor Department said the number of individuals who filed for initial jobless benefits fell in the week ending August 22 increased by 6000 to 271 000 from 277 000 people.

Analysts had expected the review of initial jobless claims to drop to 3000 to a record 274 000 in the past week.

During the later of the day the participants in the market awaited the release of US data on trade and personal spending and consumer confidence index, amid ongoing speculation about the timing of a rate hike rate in September.

And exposure to gold under heavy selling pressure in recent months amid speculation that the Federal Reserve will raise interest rates in September for the first time since 2006.

And it would delay raising interest rates that affect the gold, because it reduces the relative cost of the contract for the metal, which does not offer any guarantees or compensation to investors.

The upbeat data added to optimism about global economic growth perspective, while calmed fears of volatility in the markets after the opening of the Shanghai Composite Index. Higher on Friday after the close of trading at 5% in the previous session.

Elsewhere in metals trading, silver for September delivery rose 0.23% to trade at $ 14.450 an ounce, while copper for September delivery fell 0.29% to hit US $ 2.328.

Gold prices reached a peak at $ 1168 an ounce during trading last Friday, its highest level in three months, after receiving support from the geopolitical conditions in the two Koreans and the resignation of the Prime Minister of Greece.

The things that have contributed to the stability of the price of gold calm state witnessed by the Chinese stock market and frequency of the Federal Reserve Board during its last meeting not to set a date for lifting the lead.

These data increase the state to resort to the yellow metal as a safe haven investment during the coming period expected to continue this rise in prices until the next Fed meeting.

The return of stability to the Chinese market returned with money that came from China to its domestic market and turned investors to buy the yellow metal pointing to the importance that the gold markets of China and India represent two-thirds of the fact that the gold markets worldwide.

gold prices settled in the US market at 1153.42 dollars an ounce, unchanged from its level last Thursday after he achieved an increase of 3.5 percent in the beginning of the week and reached its highest level for about six weeks.

And record gold weekly gain of 4.2 percent is the largest since 16 January to rise since the beginning of August this until today increased by 5.7 percent, while futures for gold next December delivery settled up 6.0 percent higher, or by 40.6 dollars to 1159.60 dollars an ounce.

The recession comes the price of gold on the last day of the trading week coincided with the release of more weak economic data from China, which led to the overall decline in the Gulf and international capital markets.

And lowered the Chinese authorities two weeks before the value of its currency (the yuan), in a surprise move raised concerns on the development of China’s economy is the strongest and the largest among developing countries declined as commodities and currencies of developing countries staggered rates and stock markets in Europe and America.

On the other hand the US currency rebounded against the backdrop of the US economic data on Thursday on jobless claims and economic growth the US currency to rise against a basket of major currencies despite the high growth in the United States below expectations during the second quarter.

The rise of the dollar was due to statements about the meeting of the Federal Reserve Bank, which recently confirmed to raise interest rates this year in light of the improvement in the US economy and the strength of the labor sector.

Buying gold in Abu Dhabi is still great in spite of the stability of gram 22, 21 and 18 at 125 and 114 and AED 96 respectively since the beginning of last week, the prices where still many buyers are betting on a new price declines coming period, while the UAE and Sudanese nationality Most Wanted to buy.

Gold dealers in Abu Dhabi that the prices of the yellow metal still encouraging the purchase, especially after prices fell dramatically as increasing the attractiveness of the acquisition on the part of the consumer audience for the precious metal.

They predicted that prices will continue to decline over the next few days, pointing out that the gold market in Abu Dhabi has achieved during the past few days an unprecedented increase in sales and reached a ratio of 200% in the majority of stores.

Gold traders said that demand is growing on the goldsmiths 24 carat gold bullion in order to compactness and investment.

Buyers confirmed that prices are still encouraging the private purchase, as traders anticipate that the movement is growing more buying end of the month, regardless of the salaries of staff in August.

Sohrab sales to the island Jewelry manager surprised by the overwhelming response of the citizens and residents to buy gold in Abu Dhabi since the beginning of Eid al-Adha last. He stressed that the demand for buying gold in Abu Dhabi until yesterday still good, pointing out that the last ten days fell slightly turnout compared to the Eid al-Fitr period which saw a turnout is unprecedented to the extent that our sales have doubled nearly three Mrat.onoh to the large demand for gold is due to several reasons. First Gold prices fell globally in addition to the decline coincided with the Eid al-Fitr and the exchange of employees in public and private institutions, the salaries of staff early before the Eid, which doubled from acquisitions.

Mustafa Kamel sales official on the island for jewelry shows that the gold market Shops in Abu Dhabi until yesterday still experiencing a remarkable turnout. He said the Abu Dhabi live golden days for the sale of gold is currently declining turnout was very limited in the past days to buyers believe that prices continuing to fall may decline further in the coming days and we expect to increase sales with a staff exchange for the salaries of the month of August. Mustafa Kamel noted that the sales increase included all types of gold all   adding gold bullion pointing out that gold jewelery sales exceed bullion sales, is still where the majority of citizens and residents prefer goldsmiths, whether for gifts or compactness.

He points out that gold prices are still encouraging, largely for the purchase of pointing out that the price of gram 22 carat arrived during the past few days AED 125 compared to 150 dirhams last year and a 21-gauge record AED 114 for AED 135 and 18 carat record yesterday AED 96 for AED 115 last year, as gold bullion fell 100 grams a class of 14 thousand and 500 dirhams to 13 thousand and 200 dirhams is expected to continue to decline in the coming days.

The gold dealer Mohammed Nader logo Director Samer Jewelry in the gold market in Abu Dhabi confirms that gold prices will continue to decline over the next few days explaining that this decline is due to several reasons, most notably the decline in the cost of gold extraction in addition to the decline in oil prices and the continued strength of the dollar.

He said he expected a big wave of buying again later this month with staff salaries as well as another wave ahead of Eid al-Adha with the expectations of the employees’ salaries regardless early also.

Mohammed Nader logo and notes that the majority of the gold market Shops in Abu Dhabi unprecedented sales achieved during the past few days indicating that sales doubled twice or three times at least. He points out that purchases significantly increased the gold bullion special alloy of hundred grams and fifty grams category, pointing out that the majority of shops were selling day between 100 to 200 alloy while before Eid al-Fitr was not selling only alloy one day. He said the demand was too great in all are impressed and so if gold is still the overwhelming love Aktnazh them to achieve better profits compared to capital markets or real estate.

It is noteworthy that gold prices are stable in Abu Dhabi on the decline since about a week after a significant decline over the more than two weeks and all estimates indicate that the Abu Dhabi market will witness another wave of heavy buying by the end of this month, in light of expectations of falling prices confirm more.

The servant of the Lord Almarba official Rmaizan sales makes it clear that the dominant feature of buying gold during the last period on the Abu Dhabi refers to a big jump in the purchase of 24 carat gold bullion, which confirms that the procurement processes in order to compactness and investment. He notes that his place is not trading in bullion, but a specialist in the UAE and Bahrain and Kuwait and Saudi Arabia, goldsmiths, pointing out that the demand for these artifacts significantly increasing because of the splendor designs we have recorded the proportion of increase in sales during the last period, including at least 200% compared to the same period last year. or by falling prices.

Salem Salem al-Awlaki director Shuaibi Jewellery Store said that say drop the demand of the citizens and residents to buy gold last week not right, pointing out that his shop and the majority of shops in the gold market in Abu Dhabi continues to receive daily many of the purchase orders. He said just after the Eid jumped our sales by more than 100% and currently no less sales for 90% and the market refreshed dramatically and sales operations take place in full swing day and night without stopping because some buyers are skeptical that gold will rise again and prefer to purchase today before tomorrow.

The price of gold stabilized on Friday as investors assess the impact of China’s intervention in currency exchange on the timing of the first to raise US interest rates in about ten years the price.

The yellow metal is moving to end a wave of losses it lasted seven weeks after the devaluation of the Chinese yuan earlier this week, which increased the foggy global economy and prompted investors to buy assets that are considered safer such as gold.

The price of gold in the spot transactions 0.3 percent to $ 1118.17 for Oouka by 1018 GMT. The precious metal fell Thursday to end the rally lasted five days is the longest since May.

The increased price of gold in US futures contracts December delivery 0.2 percent to $ 1118 an ounce.

And it calmed the volatile markets with the stability of the yuan after the Chinese central bank said there was no reason to further decline in value of the currency in the light of the strength of the country’s basic economic factors.

HSBC said in a note, “the decline of greater volatility may dispel some of the gains made by the precious metal in recent times as a safe haven.”

However, gold rose about two percent since the beginning of the week after coming off seven weeks in the longest wave losses since 1999.

China’s central and said Friday that the country’s reserves of gold rose to 53.93 million ounces by the end of July from 53.32 million ounces at the end of June. The modified Chinese gold reserves numbers in June is the first in more than six years.

Among other precious metals palladium increased 0.1 percent to $ 618.50 an ounce after touching its highest level in two weeks Thursday. Platinum settled at $ 992.05 an ounce while silver rose 0.3 percent to $ 15.45 an ounce

Gold demand during the second quarter of this year fell to its lowest level in six years, due to falling purchases from China and India, despite the low prices.

World Gold Council announced through a report issued yesterday, that the total demand for the precious metal reached 915 tonnes in the second quarter of this year, down by 12% compared to the same period of 2014.

And cause an economic slowdown and volatility in the stock market performance in China in declining demand for the yellow metal, while the weather was unfavorable factors in landing the role of procurement in India.

Global demand for gold jewelery fell by 14% to 513 tonnes in the second quarter on an annual basis, as in India fell by about 23% to 118 tons, while the decline in China by 5% to 174 tons.

Gold prices have ranged between 1200 to $ 1230 per ounce during the period between the months of April through June.

On the other hand, gold prices fell yesterday to end the wave height of five consecutive sessions continued with receding fears of a continued decline in the yuan after the feet of China to devalue its currency.

And it allowed the recovery of gold falling stock markets and the dollar.

The decline in the price of gold in the spot market 0.7 percent to $ 1117.26  (an ounce) pm 0942 GMT, while the decline in the price of gold futures contracts of US dollars December delivery 6.70 an ounce to $ 1116.90. The price was in the spot market has risen to its highest level in three weeks at 1126.31, up 4.5 percent from last month.

It rose 0.3 percent yesterday after the dollar index fell in the previous session because of doubts about whether the Federal Reserve will raise interest rates in September, in the face of a reduction rate of the yuan.

The price of palladium fell 1.1 percent in the spot market to $ 615.90 an ounce after rising to its highest level in two weeks at $ 627 earlier. Platinum slipped 0.5 percent rate to $ 991.70 an ounce and silver fell 0.8 percent to $ 15.36 an ounce.

Gold held near its lowest level in five and a half years on Friday and is heading to incur losses for the seventh consecutive week in the longest losing streak of its kind since 1999, ahead of US data may determine the timing of raising interest rates in the United States.

If a strong US jobs data came they would strengthen speculation that the Federal Reserve raises (US central bank) interest rates next month, which comes down with gold which does not generate interest to new levels likely.

The price of gold in the spot transactions 0.3 percent to $ 1092.10 an ounce (an ounce) by 0647 GMT. The yellow metal is trading below $ 1100 an ounce since coming off the level of support for this in a wave landing on July 20 that landed him in 1077 to $ 24 of the same month, its lowest level since February February 2010.

The precious metal fell slightly since the beginning of the week and Similar losing for the seventh consecutive week wave weekly losses incurred in May and June, in June 1999.
The price of gold in US futures contracts December delivery 0.1 percent to $ 1091.60 an ounce.

Among other precious metals silver and rose one percent to $ 14.72 an ounce.

Platinum and palladium remained near their lowest levels in several years. Platinum little to settle at $ 951 an ounce and is heading down to the fifth consecutive week, while palladium rose 0.6 percent to $ 598.50 an ounce, but is heading to decline for the second week was little changed.

Gold price fell in early trading this week below $ 1100 an ounce for the first time since March 2010, as analysts began to raise terror among investors “safe haven” Ptoukahm decline to more lowest levels.

And it resulted in speculation in the Shanghai Gold Exchange to the sudden decline of the yellow metal by 4% before recovering some of its losses in European trading.

According to some traders in Shanghai has been on sale about 5 tons of gold in two minutes compared to only 25 tons were traded on the stock exchange last week.

GOLD price of an ounce in the Asian stock market to $ 1086 in early trading before recoup some of the losses during the course of the day.

Analysts said that the recent movement and a clear were not caused by the fundamentals of gold, because the dollar did not move at the time. The performance was disappointing yellow metal which dropped by 6.4% since the beginning of this year may push bulls gold to retreat, where he announced a lot of them for a neutral stance on gold at the moment, and in particular that he has broken some very important psychological barriers, as expected, some analysts The yellow metal continues to decline below $ 1100, pointing out features in a bearish path-oriented chart of gold, which prompted technical analyst Daryl Guppy to anticipate the arrival of gold to the historical level of support at $ 980 an ounce.

Analysts were unanimous that the approach of the first to raise interest rates from the US Federal Reserve and what it means that the likelihood of the strength of the US dollar will form a lot of pressure on the yellow metal worker.

And it showed that there was a consensus among all analysts that the gold rally will not come back soon, especially with the lack of support for this precious metal. In addition to all the above factors there are developments in China, both in terms of central bank buying of gold or in terms of the demand for jewelry, all of which are not considered to be sufficient to maintain the high price of gold.

The gold has faced strong down another after China put an end to years of speculation about the official holdings of gold on Friday, revealing a leap of 60% in its reserves since 2009 as China’s central bank it said that its gold reserves amounted to 1,658 tons (53.31 million oz) in the end of June.
In April 2009, the reserves were 1,054 tons. According to analysts, this rise in inventories was less than expected.

Gold futures fell near its lowest price in eight months on Thursday, amid waning concerns over Greece’s debt crisis and amid growing signs that a rate hike in the United States will close by later this year, affecting the price of gold.

On the Comex division of the New York Mercantile Exchange, August delivery gold fell / August by 1.20 cents, or the equivalent of 0.1%, to trade at $ 1.146.20 an ounce during European morning trade.

A day earlier, gold fell to $ 1.141.90 per ounce, a level not seen since November 7, before closing at $ 1.147.40 per ounce, down by 6.10 cents, or the equivalent of 0.53%. Gold is likely to find support at $ 1.130.40 per ounce, the lowest price since November 7 and resistance at $ 1.155.80 per ounce the highest price since July 15.

Also in the Comex, silver September delivery fell 1.6 cents, or the equivalent of 0.11%, to trade at $ 15.03 per ounce. On Wednesday, silver fell 26.7 cents, or the equivalent of 1.74%, to close at $ 15.04 per ounce.

Greek parliament approved the harsh austerity measures demanded by creditors in the country after two hours ahead of schedule through early Thursday morning local time, paving the way for the start of negotiations about a third rescue package.

And has the approval of the reform plan was adopted by a vote of 229 in parliament of the total 300 votes, despite the opposition of the deal by dozens of hard-liners in the ruling party and the opposition Syriza for the transaction, which raised doubts about the future government of Prime Minister Alexis Tsipras.

Before the Greek elections on Wednesday night, the French National Assembly voted overwhelmingly in favor of starting negotiations for a third rescue deal. He is scheduled to vote in the German Bundestag on the deal on Friday.

At the same time, officials in Brussels are continuing efforts to assemble short-term financing package amounting to 7 billion euros to keep Greece intact until it is putting the final touches on a new rescue plan.

During the later of the day and will also euro zone ministers set to hold talks on the latest developments in Greece.

It was expected to hold the European Central Bank, the monthly policy meeting in Frankfurt today to increase aid in emergency liquidity to Greek banks, where it was expected to be the first step to allow them to re-open after the banks were closed for nearly three weeks.

At the same time, demand for the dollar supported continued statements that the President of the Federal Reserve Janet Yellen, who said on Wednesday that the central bank was on track to raise interest rates before the end of the year if the economy continues to evolve as Mtouka.ujaet her remarks in testimony before the Financial Services Committee Parliament. He is scheduled to address the unrelenting Banking Committee in the Senate on Thursday morning.

Rose and the US dollar index, which tracks the performance of the greenback against a basket of six major currencies, near its highest level in six weeks at 97.45.

SINGAPORE (Reuters) – Gold came down on Tuesday after a rally over the five days due to profit-taking, while the dollar made some gains.

Investors and Greece’s debt crisis continues to determine the trend in the market is also awaiting the minutes of the last meeting of the Federal Reserve (Fed).

The price of gold fell 0.4 percent in spot transactions to $ 1220.93 an ounce (an ounce) by 0640 GMT, down from the highest level in three months struck in the previous session at $ 1232.20 an ounce.

The yellow metal has made gains over the five sessions to Monday indicated that the latest US jobs data and retail sales and consumer confidence to the weak economy and fueled speculation that the Fed will not raise interest rates soon.

She said a trader in Singapore “There is profit-taking after it failed (gold) in cohesion at $ 1230 and with the dollar’s gains in foreign markets.”

The dollar rose one percent against a basket of currencies on Monday, thanks to higher revenues of US Treasury bonds and the weakness of the euro.

For other metals silver fell about one percent to $ 17.5 per ounce.

Platinum also fell 0.6 percent to $ 1162.99 and palladium as well as 0.25 percent to $ 784

Gold price stabilized around $ 1,200 an ounce on Thursday, trims losses as the US dollar continued to decline while the increased pressure on the precious metal with the continued weak demand in the spot market and the uncertainty surrounding the potential to increase US interest rates.

And went down in the spot gold trading 0.05 percent to $ 1200.66 an ounce ounce at 1826 GMT, after jumping 0.7 percent on Wednesday.

And dropped the price of gold futures for June delivery settled at the COMEX exchange of $ 3.30 to $ 1998 an ounce.

The price of silver rose in online transactions 0.06 percent to $ 16.30 an ounce and platinum rose 0.1 percent to $ 1158.49 an ounce, while palladium rose 1.4 per cent to $ 728.25 an ounce.
The dollar index fell, which usually supports gold when prices decline for a third straight day against a basket of currencies.

The data showed that the number of Americans filing new claims for unemployment benefits rose unexpectedly last week, but the underlying trend is still reveals the strength of the labor market