Category: Gold news

The biggest event in the world of gold and the most popular is the Denver Gold Forum to focus on the main producing miners of gold in the world.

The conference takes place this Sunday with the opening ceremony at the Hyatt Regency Denver, and it was Denver offers a number of corporate offices mining in the United States, although the total number has been reduced through mergers and industry, for many years stemming from the gold mines of Colorado in the late 19th century in the mining sector.

Conference focuses too much on senior gold producers in the world and institutional investors adult, since that time has grown in scope to take in some of the smaller best producers, developers and explorers, but still an event invitation only with guests who need to meet some specific criteria too.

On the supply side Gold Conference Prime Minister begins at the end of this week, that qualifies the public to hear some new ideas of new senior executives of some of the major gold miners in the world

and looking at the poor performance of gold over the past year, and the vagaries of price recently, and what distinguishes the Denver apart is the participation of senior executives from more than gold miners in the world in a single event, although unfortunately it does not tend to be restrictedbourses in what I can say about their own companies in their presentations. But they are able to put forward their views on where they feel being industry as a whole and their feelings about the likely path of the price of gold.

(Reuters) – Spot gold prices near the highest level in a week on Friday, and on the verge of recording the biggest weekly gain in five weeks after the Council postponed the U.S. Federal Reserve to reduce monetary stimulus measures that benefit the precious metal.

“the market will take some time to absorb this sudden decision,” said Analyst Victor Thianberrya

Adding that economic data would be much more important in the coming period.

Many had expected a decision from the Federal Reserve cut its bond purchase program which is worth $ 85 billion a month by ten billion dollars after strong economic data.

Gold fell in the spot market up 0.2 percent to $ 1362.40 an ounce by 0639 GMT, did not move away from its highest level in a week of $ 1374.54 hit on Thursday. The yellow metal rose nearly three percent this week.

Silver fell 0.5 percent to $ 22.9 an ounce, platinum fell 0.2 percent to $ 1456.2 an ounce and palladium down 0.5 percent to $ 729 an ounce

Gold prices turned to rise again, contrary to expectations, jumped spot prices for the yellow metal by more than 4.1% to reach more than $1364.67 /Oz in New York Stock Exchange at the end of trading , sending to the highest level since January 2009 after deciding the Fed’s continuing program of monetary expansion contrary to all expectations, which led to increased demand for the yellow metal as a store of value or the best safe-haven assets.

Said Bloomberg that the futures prices of gold also jumped by about 4.2% in the Stock Exchange Comics for goods to reach more than 1364.1% dollars an ounce to achieve the biggest gain since March 2009, though gold prices have fallen 22% this year due to declining inflation and rising stock prices is that it has stepped up about 70 % since December 2008 until June 2011, when the Fed pumped more than U.S. $ 2 trillion in the financial system through the purchase of debt.

The yellow metal has continued to decline for a third straight session Wednesday, and it has more than 1% is trading below $ 1,300 an ounce, “ounce” expectations of investors to announce the Federal Reserve, “the U.S. central bank,” a reduction procedures monetary stimulus that benefit the precious metal .

Where he was expected to start the Federal Reserve changed its monetary policy too soft to declare a limited reduction for its purchases of bonds worth 85 billion dollars a month, on Wednesday at the conclusion of the two-day meeting. Many had expected to reduce purchases by ten billion dollars.

Gold price of gold in the spot market 0.5% to $ 1302.50 an ounce to reach its decline this year by 22%. He had been dropped earlier in the session to $ 1291.34, its lowest level since the eighth of August.

Said a trader in precious metals in Hong Kong, “It all depends on the Federal Open Market Committee … depends on the dialect and the nature of the stimulus reduction .”

According to him, technically still under pressure gold may find it difficult to rise above $ 1,350 again.

The price of silver fell 0.5% to 21.57 dollars an ounce, down 0.1% platinum to 1416 dollars per ounce and palladium fell 0.7% to $ 698.50 an ounce.

(Reuters) – Gold stay near the highest level in a week on Thursday after it surprised the Federal Reserve (the U.S. central bank) to postpone markets shrink stimulate useful cash commodity With the decline in the dollar to the lowest price in seven months.

The U.S. gold futures jumped 4.6 percent by the decision and silver contracts increased seven percent the spot price gains in the previous session.

But the gains have been limited by the absence of China – the main buyer – from the market due to a public holiday.

By the time of 0623 GMT, the spot price of gold up 0.2 percent to $ 1362.24 an ounce after touching earlier $ 1367.86, the highest price since Sept. 11.

Silver rose 0.5 percent to a record $ 22.98 an ounce.

And platinum rose 0.1 percent to $ 1464.50 and palladium offers for the same to $ 717.72 an ounce

(Dubai Gold ) – Gold above its lowest level in five weeks on Tuesday as investors wait to find out when will the Federal Reserve (Fed) to reduce the huge economic stimulated.

The metal has lost more than 20 percent of its value this year, with its appeal as a safe haven affected the recovery of the U.S. economy and growing concerns that the central bank will reduce the bond purchases that benefit commodities.

By the time of 0613 GMT, the spot price of gold 0.06 percent to $ 1314.21 an ounce after falling one percent in the previous session to the lowest price in five weeks, when a record $ 1303.85.

Silver rose 0.8 percent to a record $ 21.88 an ounce.

Platinum rose 0.3 percent to $ 1437.74 and palladium offers 0.4 percent to $ 703.97 an ounce

With little fear of a west military strike of Syria to a large extent this week, prices began to oil markets go down, while the income of gold in a state of chaos, not least because of the increased focus on the meeting of the Federal Open Market to be held from 17 to September 18, 2013, where Patthan-expected U.S. Federal reserve announced the beginning of the gradual easing of its huge program your purchased assets.

Pushed the sectors of energy, industry and in particular all of the precious metals by the above-mentioned workers, but also because of the continuing uncertainties related to the ongoing economic recovery in the wake of data lower than expected production in Europe and the recent slowdown in job creation in the United States. The agriculture sector was mixed, where he went to each of soybeans and corn in two separate directions, while three of agricultural commodities such as orange juice, sugar and coffee the best in terms of performance.

The price of gold fell to the lowest level seen in nine weeks after he calmed geopolitical tensions and increased speculation stimulus from the Federal Open Market . Given sales a boost on Thursday when art make way triple line of defense located at 1350 dollars per ounce area and did not stop the sell-off only when the latest technical support at $ 1,300 per ounce , some of the profits that occurred before the weekend.

Decline was driven by momentum traders , such as hedge funds , who in August had raised sharply from exposure in the intensive purchasing operations for gold. Since this increase was driven primarily purchases to avoid losses when the price rises , the most negative tendencies left many funds ample room to re-establish selling in a falling market prices.

The impact of copper

Silver reacted with the same news that drives gold with some additional weakness derived from continued profit – taking in copper. Scroll held December high – quality copper to the lower end of the price range of $ 3.20-3.40 per pound because the demand outlook has been marred by doubts after the economic data is weaker than expected had been issued recently. Copper was higher in August, is the one who helped to launch a large rebound in silver ( and gold) while now see the return of the silver they were wrestling and sold at a greater pace than gold.

(Reuters) – Gold fell on Monday amid expectations that starts with the Federal Reserve (Fed) to reduce monetary stimulus, which supports commodities this month, despite the withdrawal of Lawrence Summers from the race for the presidency of the Council.

The consensus agreed that the Council will reduce bond purchases amounting to $ 85 billion a month by ten billion dollars and that it will announce a reduction of quantitative easing after the meeting of 17 and 18 September.

The price of gold in the spot market up 0.7 percent to $ 1317.61 an ounce by the time of 1008 GMT. The gold record last week, its biggest weekly decline in more than two months.

Silver fell 1.5 percent to $ 21.88 an ounce after falling on Friday to its lowest level in a month when recorded 21.35 dollars per ounce.

Platinum fell 0.4 percent to $ 1444.24 while palladium rose 0.9 percent to $ 703.50 an ounce

Reuters expect that falling demand for gold during the first half of this year.

“Thomson Reuters ” noted in the surveyed first about gold for the year 2013 which revealed its findings today that the rates of storage consumers high of gold in the market buying traditional fall and decays with trading volume during the remaining period of the current year .. As expect lower gold bullion storage 50 %.

Company alerted the that geopolitical tensions and talk continued about the debt ceiling in Washington could lead to influence the movement of gold prices with the likelihood of achieving the price of an ounce to 1500 U.S. $ at the beginning of next year at an average price could reach / 1350 / dollars during the year, compared with $1446 in the current year.

The Rhona O’Connell, head of forecasts and research minerals in the Thomson Reuters headquarters in New York that the actual demand for gold has seen a significant rise in April after a sharp drop in prices since lost more than 240 U.S. $ per ounce or approximately 16 per cent during the three trading days in the middle of the month.

This decline is attributed not only as a result of speculation in the markets, but also because the European Commission’s proposal should be the sale of Bank of Cyprus gold value 400 million euros to help local public treasury, which could undermine the independence of European national banks.

Gold rebounded on Friday on late bargain hunting, but poor technical momentum, easing tensions with Syria and expectations that the US Federal Reserve will unwind its monetary stimulus led to the metal’s largest weekly loss since late June.

After falling as much as 1 percent to hit a five-week low earlier Friday, bullion ended up 0.3 percent on buying related to pre-weekend book squaring late in the session, traders said.

In late August, gold surged to a three-month high above USD 1,430 on concerns Western powers led by the United States would launch military strikes on Syria. Since then, the metal’s price has lost almost 8 percent.

On Friday, Russia and the United States agreed to a new push to negotiate an end to Syria’s civil war as they discussed a plan to destroy President Bashar al-Assad’s chemical weapons in order to avert US air strikes.

“As tensions with Syria cool down, the risk premium that had quickly pushed the gold market sharply higher is now being taken off very quickly,” said Sean McGillivray, head of asset allocation at Great Pacific Wealth Management.

Spot gold hit its lowest point since Aug. 8 at USD 1,304.56, and was last up 0.3 percent at USD 1,324.26 an ounce.

Bullion lost nearly 5 percent this week for its biggest weekly loss since the week of June 28.

US gold futures for December settled down USD 22 at USD 1,308.60 an ounce. Despite active trading in the last two sessions, volume was only 10 percent above its 30-day average, preliminary Reuters data showed.

On Thursday, gold fell 3.5 percent after a sudden price tumble in the futures market shattered investor confidence. The metal also broke below its 100- and 50-day moving averages in the previous session.

US DATA POINTS TO WEAKNESS

For the second consecutive day, choppy trading in precious metals came as outside markets including US equities and the US currency barely responded to economic indicators.

US data showed consumer confidence ebbed early this month and retail sales advanced just slightly in August, the latest indications of a lack of momentum in the economy. Another report on Friday showed an energy-led rise in wholesale prices last month but subdued inflation pressure.

Now traders turn their attention to the Federal Open Market Committee which is expected to release a policy statement at the end of its two-day meeting next Wednesday.

Consensus is building among analysts that the FOMC could announce a plan to begin slashing its USD 85 billion monthly bond purchase program.

Among other precious metals, silver climbed 2.1 percent to USD 22.20 an ounce. It lost 7 percent this week, its biggest weekly loss since late June.

Platinum rose 1.6 percent to USD 1,450.75 an ounce, while palladium gained 1.4 percent to USD 699 an ounce.

Reuters