Category: Gold news

Gold prices tended to decline to the lowest level in more than four weeks today in a time when shrunk unit concerns about the situation in Syria , as well as investors awaited the Fed meeting next week.

Gold prices fell to levels of $ 1,308.00 in early trading today after it opened at levels of $ 1320.92 an ounce while only yesterday fell by about 3 %, while prices are moving to achieve a weekly decline of more than 5.00% so far , which is the worst performance in two months.

Gold prices severely affected after Pat resorting to military intervention led by the United States against Syria is distant even now that diplomatic solutions have been adopted Russian – brokered by subjecting the Syrian chemical program under international control , which reduced the chances of military intervention so far and then decline in the attractiveness gold as a safe haven for investment.

Gold prices rose to the highest level in three and a half months at the end of the previous month at $ 1,433.00 per ounce on the effect of increasing political tension in Syrian affairs , but international prices fell quickly in light of shrinking unit those concerns.

On the other side waiting for markets open FOMC meeting Federal Reserve Bank on 17-18 of this month amid speculation of some investors that the bank may turn to reduce the quantitative easing policy ‘s worth $ 85 billion per month .

And then increased the negative pressure on gold prices , which have benefited from quantitative easing policies so that prices have doubled over the past three years .

Technical factors break areas 1350.00 $ an ounce led to lower prices accelerated to also break the levels of $ 1320.00 an ounce and then the remaining levels 1300.00 $ an ounce ground -Government yet whether increased negative pressures may be targeted levels of $ 1285.00 an ounce.

But the attendant decline in gold prices the entry of investors once again to the gold markets to seize the opportunity to buy when prices are low, yet there are still some buying but some investors are waiting for further price drop and then again turnout for the yellow metal .

Looking ahead to today ‘s retail sales index at 12:30 GMT in the United States , which perhaps may affect movements in the gold markets .

Gold decline on Friday for the second consecutive day , its lowest level in five weeks as a result slowing demand for the metal as a safe haven result of concerns about the Federal Reserve Board during its meeting next week to reduce the monetary stimulus , in addition to a decline in concerns about Syria in light of pursuing major countries for a political solution out of the crisis of chemical weapons , and Goldman Sachs predicted further declines for gold metal during the year 2014.

Gold had ended yesterday ‘s trading Thursday , down 3.1 percent , the largest daily loss since June 26 last year.

The decline in gold by at 07:25 GMT to the level of 1315.98 dollars per ounce after the opening of trading today, at the level of 1321.07 dollars, and the highest level of 1330.80 dollars and the lowest level of 1307.88 dollars , the lowest level in five weeks since 9 August last year, has hit gold at the end of the day the biggest weekly loss in nearly two months.

U.S. stimulus program

Federal Reserve board meets the middle of next week, days 17-18 September to study the monetary policy of the Council in the process of the recent developments of the U.S. economy and the decision on monetary stimulus program estimated value of $ 85 billion per month.

Gold dropped about 22 percent since the beginning of the year after a continued rise for more than ten years after gold lost its role as a safe haven amid speculation the Federal Reserve to reduce monetary stimulus program .

Syrian crisis

Calmed investors’ concerns about the establishment of a regional war in the Middle East after the decline of the United States of America strike Syria after the approval of the Russian initiative requires the development of chemical weapons in Syria under international control .

And start the day in the second round of Geneva talks between U.S. Secretary of State John Kerry and his Russian counterpart Sergei Lavrov on the removal of the Syrian chemical weapons programs but differences emerged yesterday at the start of the first round of talks about the use of military force in the event of failure of efforts  .

On the other hand , said Syrian President Bashar al – Assad said in a television interview that any agreement on the delivery of chemical weapons will not be unless stopped military threats from the administration of President Obama and stop arming the opposition in Syria.

Goldman forecast

Said Jeffrey Currie , head of Goldman Sachs in a television interview that the Feds continued the same bond-buying program and the continuing crisis in Syria may support gold prices in the near future .

And is expected to resume Korean gold back in 2014 to reach the target level of the bank at 1050 dollars per ounce .

Gold had risen 70 percent in the period from December 2008 to June 2011 , after the Fed pumping more than $ 2 trillion in the financial system by buying bonds.

(Reuters) – Gold fell on Monday, erasing part of the gains made in the previous session after U.S. jobs data and disappointing towards speculation the Federal Reserve (Fed) to reduce the bond-buying program in the near future.

Gold dropped 17 percent since the beginning of the year – after rising lasted for more than ten years – after speculation the U.S. central bank to cut a program to buy bonds worth 85 billion dollars a month.

By the time of 1152 GMT, gold fell 0.5 percent to $ 1383.01 an ounce.

The U.S. gold futures dropped December delivery 3.5 dollars to 1383 dollars per ounce.

The decline in the spot price of silver 1.6 percent to 23.47 dollars per ounce.

And inn Platinum 0.5 percent to $ 1481.99 while palladium Inn 0.9 percent to $ 690.97 an ounce

Gold fell with the decline of the euro on Monday, but the possibility of delay in the decision of the Federal Reserve (Fed) to reduce the bond-buying program could boost the metal’s appeal as a safe haven.

Instead of gold, which takes advantage of the liquidity pumped by the Central Bank of the sharp losses in the past week rose about 2% on Friday, after a report of weaker-than-expected U.S. jobs.

By 0621 GMT, gold fell 0.3% to $ 1387.26/OZ. The price was dropped to $ 1362.55 /OZ on Friday, the lowest level since August 22, and then rose after data showed that U.S. employers hired fewer numbers than expected in August.

And increased U.S. gold futures for December delivery 0.1% to $ 1387.70/OZ.

The decline in the spot price of silver 0.3% to $ 23.76/OZ.

Platinum rose 0.2% to $ 1492.49, while inn palladium 0.4% to $ 694.72 /OZ.

Gold prices remain at the lowest level in two weeks during early trading today , while dominated limited in light trading as investors awaited monthly jobs report in the United States of America .

Gold prices recorded in early trading levels of $ 1369.94 per ounce after having achieved until now at levels of $ 1373.68 and the lowest at $ 1365.43 per ounce.

The prices tend to decline for the second week in a row by 1.7 % .

Developments in politics in the international arena on the United States military strikes against the Syrian government pushed gold price to rise to levels of $ 1433.00 per ounce ( the highest in three months) by the end of August / August last after the turn investors to retain the metal yellow as a safe haven for investment.

But with the shrinking concerns about the unit those tensions Turn investors to focus again on the U.S. data , particularly that have significance on stimulus plans pursued by the Federal Reserve Bank , which was the cause of the price of gold doubled over the past three years .

Today’s focus is on the monthly jobs report in the United States from August  and mandate of improved index reading would increase speculation that the bank is moving to reduce the stimulus packages worth 85 billion dollars a month later this month.

Which would reflect negatively on the price of gold , which is still down less than 20 % since the beginning of the year.

Jobs report is expected to be released at 12:30 GMT and building on what may determine shows and markets hand even members of the Fed meeting this month.

Trading below the levels of resistance $ 1385.00 per ounce increases the negative pressure on the prices of gold and therefore if they continue these pressures may be aimed at areas 1350.00 dollars, and $ 1,320.00 per ounce.

Gold prices declines 2% to its lowest level in two weeks after U.S. data boosted speculation that starts with the Federal Reserve ( the U.S. central bank ) will soon reduce its catalytic support precious metal prices .

Another report showed on Thursday that the U.S. private sector added 176 thousand jobs in August, almost in line with economists’ expectations .

And dispelled gold gains earlier in the session with the rise in the dollar after the European Central Bank pledged to the survival of low interest rates .

But selling accelerated , prices fell to $ 1365.16 an ounce , its lowest level since Aug. 22 after data showed the U.S. service sector growth in August at the fastest pace in nearly eight years.

The data indicate that the labor market is an important factor in the decisions of the Federal Reserve Board is witnessing a recovery slow but steady and can convince the Council to withdraw monetary stimulus program .

After falling prices 1.5 percent on Wednesday revealed immediate contracts for gold today 1.6 percent to $ 1368.14 an ounce at 1550 GMT after rising earlier in the session high of $ 1399.06 an ounce.

The U.S. gold futures fell December delivery $ 22.4 , or 1.61 percent , to 1367.8 dollars .

Silver fell in online transactions 1.37 percent to 23.12 dollars per ounce.

Platinum lost 0.99 percent to $ 1473.45 while palladium fell 1.7 percent to $ 683.72 an ounce

Gold prices fell nearly two percent on Wednesday as investors booked profits ahead of an important report on non – farm payrolls could give indications on the timing of reduction of monetary stimulus in the U.S. and amid speculation that a U.S. military strike against Syria is not imminent.

Gold lost 1.8 percent to fall to its lowest level in the session at $ 1380.20 an ounce and was trading at 1450 GMT , down 1.6 percent .

The contract fell U.S. gold futures for December delivery December 23.40 to $ 1388.80 an ounce.

Gold rose 1.4 percent on Tuesday after winning the U.S. President Barack Obama’s support of prominent members of Congress , including Republicans , to a limited military strike against Syria to punish the government of Bashar al- Assad on what Washington says is a chemical weapons attack on civilians.

But Russia said on Wednesday that he is not entitled to the U.S. Congress approved the use of force without the approval of the UN Security Council when he said a prominent Republican Senator John McCain did not support the draft resolution of the Senate committee authorizes the use of force in Syria.

Silver fell 2.9 percent to 23.48 dollars an ounce .

Platinum fell to its lowest level since the seventh of July, to $ 1489.30 an ounce.

Palladium fell 2.5 percent to $ 698.40 an ounce

The price of gold rose 1.3 percent on Tuesday after receiving U.S. President Barack Obama to support two major Republicans in Congress to call for limited strikes against Syria to punish President Bashar al-Assad on the alleged use of chemical weapons against civilians.

Prices recouped earlier losses after John Penner pledged to Republican President and House of Representatives Majority Leader Eric Cantor of the Council with the support of military action.

Investors turn always to gold as a safe haven as political tensions.

Said Michael Matussek senior trader at Yu. S. Global Investors, which has assets of $ 1.2 billion in gold mutual funds that received support from speculation traditionally strong demand in September.

Rose spot price of gold to 1416 dollars per ounce and was trading at 1830 GMT, up 1.3 percent at $ 1411.86.

Gold rose U.S. December delivery settled at $ 15.9 to $ 1412.00.

Silver rose in online transactions 0.7 percent to $ 24.30 an ounce.

The price of platinum increased 1.4 percent to $ 1534.74 and palladium rose 0.4 percent to hit 715.22 dollars an ounce