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Category: Gold news

  • Demand for gold up to its highest level

    Demand for gold up to its highest level

    Demand for gold up to its highest level

    Gold global demand reach to its highest level during the second quarter of this year, up to 1083 tons, rising by up to 53 per cent compared with the same time last year.

    And most of the increased demand came from India, where consumers rushed to buy jewelry, coins and gold bullion, considering buying gold investment for the future.

    Although India and China are the most popular countries for gold, but they are not alone, as the increasing demand in the Middle East and Turkey at a rate ranging between 33 per cent to 38 per cent.

    And the growing popularity of jewelry increased by 37 per cent, while increasing demand for bullion and gold coins by 78 per cent.

    The director in World Gold Council, Marcus tote bag said that The reason for the low price of grams of gold back “rebalancing phase witnessed the Council, when some American investors to abandon their contributions, which led to a large wave of increasing demands on it.”

  • Gold continues to climb for a third day and hit the highest level in two months

    Gold continues to climb for a third day and hit the highest level in two months

    Continued gold on Friday boarding the third consecutive day, the highest level in nearly two months of his statements States that provoked frustration toward recovery of the U.S. economy, which emphasized the difficulty feet Feds to take any decisions Amendments concerning the monetary stimulus, and dropped the U.S. currency against all major currencies andfor goods and minerals, and fell heavily in global stock markets.

    And achieved gold rise session yesterday Thursday by 2.3 percent after data showed the U.S. that inflation levels in line with expectations to a record low during the month of July in June weakening inflationary pressures in the largest economy in the world they are still far from the target level of the U.S. Federal Reserve at 2.0 percent, which supports the continuity the same bank accommodative policies in the coming period.

    industrial data issued yesterday to increase the sluggish performance indicators for the world’s largest economy, industrial production declined for the month of July in America, and industrial indicators declines in New York and Philadelphia.

    Recorded U.S. stocks on Wall Street’s worst performance since June last year to end the session on Thursday on sharp declines, and stocks fell in Asia, especially Japan Nikkei index up 0.8 percent to 13650.11 points and fell broader TOPIX index was up 0.8 percent as well as to 1142.65 points.

    On the other hand, the recorded data SPDR Gold Trust Fund’s largest gold-backed ETF worldwide decline yesterday to a level of 912.92 tons, sending Alsndot holdings to record weekly increase for the first time this year, but the fund’s holdings remain near their lowest levels in nearly four years.

    The Asian gold continued the hearing on Friday to qualify for the third consecutive day on record level of $ 1372.78 an ounce, its highest level in nearly two months.

    This precious metal gold is trading at 07:47 GMT, GMT around $ 1365.45 an ounce after recording the highest price of $ 1372.78 and a low price of $ 1360.59.

  • Gold strengthens its gains and record highest level in three weeks

    Gold strengthens its gains and record highest level in three weeks

    Gold strengthens its gains and record highest level in three weeks

    DubaiGoldPrices- Gold rose on Thursday for the second day in a row, upping its gains and its highest level in three weeks, this comes after the revived indicators of inflation in the United States in hopes not to give the Federal Reserve (the U.S. central bank) to reduce its bond-buying program soon.

    And achieved gold higher yesterday’s hearing on Wednesday by 1.1 percent, offsetting a loss on Tuesday, as the metal benefited from a weaker dollar and higher return on U.S. bonds.

    Traders ignored strict import restrictions in India and displacement for other indicators funds backed by gold, which raise prices for the sixth session in the last seven sessions amid hopes of rising demand in the present market.

    This is in addition to the statements to a member of the U.S. Federal Reserve, which warned of excessive optimism about the recovery in the world’s largest economy have increased as investors bought the metal as a safe haven.

    James Bullard said President Alahitaty Bank in St. Louis, “a member of the FOMC Committee of the American monetary Balfdraly policies” must be careful when you change the path of monetary policy based solely on economic data.

    It would reduce the program to buy bonds worth 85 billion dollars a month to support a climate of rising interest rate, which reduces the attractiveness of gold.

    And resulted in uncertainty about the timing of the reduction in the program to low precious metal 21 percent this year after having been gains over 12 years.

    This and waiting for commodity markets and Minerals U.S. data, which will be released later in the day to get new indicators to measure the improvement of the U.S. economy, where issued weekly jobless claims and indicators industrial in New York and Philadelphia next to industrial production for the month of July, positive this data will pour in favor of the continued rise in gold prices.

    This precious metal gold is trading at 07:38 GMT, GMT around $ 1337.87 an ounce after recording the highest price of $ 1346.11 and a low price of $ 1334.96

  • Gold stabilized after falling more than 1% on Tuesday

    Gold stabilized after falling more than 1% on Tuesday

    Gold stabilized after falling more than 1% on Tuesday

    Gold settled on Wednesday after being down more than one percent in the previous session, but prices are under pressure as a result of concern about the timing of the reduction of the Federal Reserve (Fed) stimulus program which supports the price of the yellow metal.

    And resulted in uncertainty about the timing of the reduction in the program to low precious metal 21 percent this year after gains achieved over the past 12 years.

    Fell Spot gold up 0.1 percent to $ 1319.31 an ounce by 0703 GMT, after a sharp decline by one percent in the previous session after a rally that lasted over four sessions.

    And went down the spot price of silver 0.51 percent to 21.30 dollars per ounce.

    Platinum fell 0.88 percent to $ 1484.25 and palladium fell 0.54 percent to $ 732.50 an ounce

  • India’s gold imports rise in July

    India’s gold imports rise in July

    India's gold imports rise in July

    Increased purchases of gold Indians in July compared with June, despite the steps taken by the central bank to reduce imports in the neighborhood pay great Indian appetite for buying the metal neighboring countries to take steps to reduce its imports.

    The official data showed on Monday that the value of India’s gold imports amounted to about $ 2.9 billion in July, up from about $ 2.45 billion in June, which confirms the fears of the Minister of Finance. Chidambaram high demand again despite an increase in import duties and the steps taken by the Reserve Bank of India (the central bank) to reduce supply.

    Chidambaram wants to reduce purchases of gold because it is the most expensive non-core goods imported by India and contributed to these purchases in the high current account deficit to a record level, undermining the government’s efforts to restore stability to the economy and the rupee before the election.

    While India tends to grab the title of the largest buyer of the precious metal from China this year, jewelery traders fear that imports are high degree pay the government to take further action to reduce them.

    There are indications that the Indians might get gold from neighboring countries, which greatly increases of imports of these countries and push their governments to take some action.

    For example, imposed Baksan ban for a month to buy gold for the manufacture of jewelery for export after I jumped and imports 386 percent in the first half of the year and exceeded the value of $ 514 million in July alone, more than double its imports in the first six months of 2012.

    The global gold prices have increased about eight percent in July, the largest monthly increase since January 2012, while domestic prices rose in India nearly nine percent in the same month

  • Gold recovered its losses and rises to near the highest level in 3 weeks

    Gold recovered its losses and rises to near the highest level in 3 weeks

    Gold recovered its losses and rises to near the highest level in 3 weeks

    Gold recovered early losses on Tuesday and rose to near the highest level in three weeks, hoping buyers and investors return to the market.

    The yellow metal rose for the fifth day in a row thanks to a weak dollar and a sudden increase in holdings of gold-backed ETF.

    Gold rose 0.2 percent to $ 1338.16 an ounce by 0714 GMT, near the highest level in three weeks at $ 1343.06.

    Silver has also strengthened its gains in the previous sessions 0.7 percent higher to 21.50 dollars an ounce.

    Platinum rose 0.35 percent to $ 1498.24 an ounce while palladium rose 0.03 percent to $ 736.22 an ounce

  • Gold recorded a second consecutive week of gains

    Gold recorded a second consecutive week of gains

    Gold recorded a second consecutive week of gains

    Gold prices rose on Friday amid a rally in commodity markets, ending the second consecutive week of gains with continued uncertainty about the date on which may begin when the Federal Reserve cut its economic stimulus program.

    The speculation was the possibility of initiating the U.S. central bank to reduce its bond purchase program which is worth $ 85 billion a month has pushed gold to its lowest level in three weeks earlier this week.

    But there is no consensus among policy makers, the Federal Reserve Board on a specific date to end the bond-buying program. Government data showed on Friday that wholesale inventories in the U.S. unexpectedly fell in June for the second month, prompting economists to reduce their estimates for growth.

    Oil prices climbed amid faltering supply from producers in the Middle East and signs of rising Chinese demand, which enhances the attractiveness of gold as a hedge against inflation.

    The price of gold ended for the immediate sale of the trading session in the New York market, up about 0.2 percent to $ 1313.96 an ounce and also ending the week up 0.2 percent in the fourth weekly gain in the past five weeks.

    And U.S. futures rose gold for delivery in December $ 4.40 to $ 1314.10 an ounce.

    Among other precious metals jumped the price of silver for immediate sale 1.3 percent, to 20.46 dollars an ounce, while platinum rose 0.7 percent to $ 1497.74 an ounce and palladium rose 0.4 percent to $ 739 an ounce

    Source: Reuters

  • Gold rises 2% due to powerful data of the Chinese trade and the dollar’s decline

    Gold rises 2% due to powerful data of the Chinese trade and the dollar’s decline

    Gold rises 2% due to powerful data of the Chinese trade and the dollar's decline

    Gold jumped two percent to more than $ 1,300 an ounce on Thursday, sparked a sudden rebound in China’s exports and imports spark economic optimism, boosting the attractiveness of gold as a hedge against inflation.

    Stepped up silver and platinum group after data showed China’s imports of industrial goods and raw materials in July and showed the second largest economy in the world signs of stability after a slow growth over the past two years.

    Axel said Merck portfolio manager at Merck فندز which manages assets worth $ 500 million, “it seems that the situation in China is moving in the right direction, which means that the forces of deflation set aside and the forces of inflation are the most popular now.”

    And gold prices also benefited from the U.S. dollar fell to its lowest level in seven weeks against a basket of currencies.

    By the time of 1602 GMT, the spot price of gold two percent to $ 1313.35 an ounce after it rose earlier in the session to $ 1313.95, surpassing a key resistance level.

    The U.S. gold futures rose December delivery 1.8 percent to $ 1309.90 an ounce.

    And increased Spot silver 3.5 percent to 20.24 dollars an ounce.

    Platinum offers 3.3 percent to $ 1482.25 and palladium rose 2.4 percent to hit 738.50 dollars per ounce

    (Reuters)

  • Gold rises for a second day as the dollar fell

    Gold rises for a second day as the dollar fell

    Gold fell after the rise 3 weeks amid anticipation of Fed Meeting

    Gold recovered early losses on Thursday and move up with the descent of the U.S. dollar to its lowest level in seven weeks, and Iqbal dealers on buying to cover short positions of the precious metal.

    And so gold continued to rise for the second day in a row after coming to the lowest level in three weeks at the beginning of the session on Wednesday because of fears of the feet of the Federal Reserve (Fed) to reduce stimulus measures as early as next month.

    One trader said the Sydney-based precious metals “today due to the purchases to cover short positions because there is nothing to support the U.S. dollar.”

    “Investors are selling dollar payables centers and in return buy gold and other currencies.”

    By 0700 GMT, spot gold rose 0.4 percent to $ 1292.64 an ounce. Gold rose in the decades to about six U.S. dollars to up to $ 1291.60 an ounce.

    Silver rose 1.02 percent to $ 19.76 an ounce.

    As platinum rose 0.7 percent to $ 1445.99 an ounce and palladium rose 0.9 percent to $ 727.47 an ounce

  • Gold near the lowest price in 3 weeks for concerns about the stimulus

    Gold near the lowest price in 3 weeks for concerns about the stimulus

    Gold near the lowest price in 3 weeks for concerns about the stimulus

    Gold approached its lowest level in three weeks on Wednesday after strong data for U.S. trade official told the Federal Reserve Board (Fed) has fueled fears that the bank might start to reduce its stimulus program next month.

    The metal fell 0.6 percent earlier on Wednesday to reach the lowest price since mid-July, but trimmed its losses after the entry of Chinese buyers to take advantage of lower prices.

    Said a trader in Singapore “trading in the month of August is always difficult because the volume of transactions lean easily manipulated.”

    By the time of 0722 GMT, the spot price of gold up 0.1 percent to $ 1280.19 an ounce after falling to $ 1273.14.

    The U.S. gold futures fell December delivery up 0.2 percent to $ 1279.70 an ounce.

    I got silver in online transactions 0.4 percent to a record 19.40 dollars per ounce.

    Platinum fell 0.3 percent to $ 1420.24 and palladium fell 0.35 percent 717.97 dollars an ounce