Category: Gold news

Gold fluctuates between ups and downs since early morning hours

Gold faced selling in early trading this morning as investors looked to lock in some profits as it Trade summer working to determine the direction a little bit. Disappeared gains that have cropped gold on Friday to fall to the level of 1300.00.
Key support level this was his stops surrounded by so when we hit this level we had an idea of what will happen afterwards.
It seems to 1280.00 and 1250.00 is the next support levels with stability below the level of 1300.00, adding to confirm the bearish trend.

This depends largely on market fundamentals and as we saw on Friday, are particularly affected by the economic data.
The fact that we lost all the gains in two days, tell me again, everything was pure speculation and this precious metal is still in a downward direction.

August 6, 2013
Gold below $ 1300 due to strong economic data

Gold fell more than one percent on Tuesday, down from $ 1,300 as offsetting strong economic data from induced as a safe haven in the while continued weakness of the actual purchases in India and China are the largest markets for gold.

The yellow metal rose in Asian transactions as a result of the weak dollar, but did not find support amid tepid demand from China, the second largest gold market in the world. Exacerbated losses as a result of sales due to technical reasons if coming for $ 1,300.

The Inn Spot gold up 0.9 percent to $ 1291.61 an ounce by 0710 GMT, hovering around its lowest level in two weeks. He had lost 1.2 percent earlier in the session.

And landed spot silver prices 0.46 percent to $ 19.60 an ounce, while platinum prices fell 0.55 percent to $ 1438.49 and palladium also fell 0.8 percent to $ 725.22

August 6, 2013
Gold falls in the U.S. market on the back of declining investment demand

Gold fell on Monday in the U.S. market against the backdrop of a decline in investment demand for the metal as a safe haven amid speculation about whether the U.S. Federal Reserve will maintain monetary stimulus program unchanged during the coming period, this comes at a time when the U.S. economy is expected an important statement for the services sector as one of the indicators important for measuring economic performance.

Data showed for the big hedge funds that it cut bullish centers for the first time in five weeks, under the direction of these funds to increase other centers based on the strength of the U.S. currency during this period.

Gold fell 22 percent since the beginning of the year after falling confidence I have some metal as a tool for investors and hedge in light of the prospects for the Fed Reserve to reduce monetary stimulus program.

Federal Reserve Board said last week that it will keep its bond purchase program by 85 billion dollars a month, warning that the continuing low levels of inflation may hinder the growth of the largest economy in the world.

Waiting for the U.S. economy later in the day an important statement for the services sector, where the issue ISM service for the month of July expected 53.2 from the previous reading of 52.2.

This precious metal gold is trading at 13:50 GMT, GMT around $ 1308.64 an ounce after recording the highest at $ 1320.57 and the lowest price of $ 1304.075

August 5, 2013
Gold rises after weak U.S. data

Gold futures rose on Monday, after weak data on U.S. jobs, which reduced expectations that the Federal Reserve Board in will reduce the stimulus program in the coming months.

Tracks the movements in the price of gold this year, largely transform expectations about whether the U.S. central bank will end its quantitative easing program sooner than expected.

On Comex division of the New York Mercantile Exchange, traded gold futures for December delivery is trading at $ 1 313.55 a troy ounce during European morning hours, up 0.25%.

Gold prices traded in a narrow range between 1, 310.75 dollars an ounce, the lowest price for the day and the session high at 1, 319.85 dollars per ounce.

Was likely to find support at 1 gold, $ 282.65 per ounce, the lowest price on Friday, the lowest price since July 19 and resistance at 1, 330.55 dollars per ounce, the highest price on Thursday.

In December contract ended on Friday unchanged at 1, 310.05 dollars an ounce after the Labor Department said that the U.S. economy added 162,000 jobs in July, less than the increase of 184,000 expected by economists.

The figure was revised in June, down to 188,000 from the previously reported gain of 195,000.

Decline in the unemployment rate down to 7.4% from 7.6% in June, due in part to leave a greater number of people workforce.

The data came amid growing doubts about the future of the stimulus program the U.S. central bank, after the Federal Reserve said last week that he would remain bond-buying program of 85 billion euros a month without giving any hint about plans to reduce its bond-buying program.

Market participants awaited the Ifo indicator is on for Supply Management’s manufacturing later on Monday in search of more gauge the strength of the U.S. economy.

Investors awaited U.S. data reports to measure if it will lead to the strengthening or weakening the case for the Fed to reduce bond purchases.

Was likely to reinforce the view that the Fed will begin to reduce the bond-buying program in the coming months if the improvement in the U.S. economy.

Gold fell in its path by 21% from a year amid concerns about the possibility of starting a program to reduce bonds later in the year ..

The stimulus out of the deal a heavy blow to gold, which flourished on demand from investors who buy gold as a hedge against inflationary risks of loose monetary policies.

Elsewhere in the Comex rose, silver for September delivery rose 0.1% to trade at $ 19.93 an ounce, while copper for September delivery rose 0.1% to trade at $ 3.175 a pound.

The PMI official government non-industrial in July of 54.1 compared with 53.9 in June. Where real estate developers are issued and the names of today’s consumer goods in China Monday.

Copper traders seemed data due later in the week on China’s trade balance, as well as a report on inflation and industrial production, amid ongoing concerns about the economic outlook in the Asian country.

China is the largest consumer of copper in the world, which represents almost 40% of world consumption last year.

August 5, 2013
Gold prices hits biggest weekly loss in a month

Gold Price today fell to its lowest level in two weeks during trading yesterday, down from a key technical level near $ 1,300 an ounce, died from strong U.S. data raised fears that the Federal Reserve begins, reducing the incentive program. And paid losses over the past five sessions, gold towards recording the worst weekly performance in a month. Data boosted unemployment benefits and factory activity, as well as the GDP data the possibility of reducing the U.S. stimulus program.

The price of gold fell in the spot market at 0642 GMT, about 1.6% to $ 1287.56 an ounce, taking its losses during the week 3.5%, and gold prices fell earlier to $ 1283.29 an ounce, its lowest level since July 19 .

Gold fell U.S. $ 24 to U.S. $ 1287.10 an ounce. Traders said the price began to decline sharply after the break of 1303 dollars per ounce.

The price of silver fell 1.02% to $ 19.38 an ounce, as the price of platinum fell 1.03% to $ 1421.74 an ounce, the price of palladium 1.13% to $ 723.22 an ounce.

August 3, 2013
Gold pares losses after the release of U.S. jobs data

Gold prices pared losses on Friday after U.S. jobs data came in below expectations non-farm limiting speculation that the Federal Reserve (Fed) may retreat from its soft monetary policy very soon.

The price of gold in the spot market $ 1300.89 an ounce by the time of 1234 GMT, down 0.6 percent from the previous day but up from a low level reached earlier when a record $ 1282.69 an ounce.

August 2, 2013
Gold is heading towards recording the biggest weekly loss in a month

Gold prices fell in Asian trade on Friday after four consecutive sessions of losses heading towards recording the biggest weekly loss in a month after U.S. economic data raised fears of a strong likelihood that the Federal Reserve begins to reduce monetary stimulus procedures that support commodity markets.

Despite the fact that the U.S. central bank did not indicate in a statement at the conclusion of its meeting this week to date to reduce its quantitative easing program by which buys $ 85 billion dollars a month of bonds, but analysts said they still expect to do so in September.

The price of gold fell for immediate sale 1.2 percent to $ 1291.60 an ounce by 0452 GMT, expanded its losses this week to 3 percent.

And U.S. futures fell to 1.5 percent went to 1291.0 dollars per ounce.

Traders are waiting in gold now, the latest monthly report of new jobs in the United States, which will be released later on Friday

August 2, 2013
Gold falls for fourth consecutive day amid rising sentiment towards global economic growth

Gold fell on Thursday for the fourth consecutive day amid rising investor sentiment towards the recovery of global economic growth in light of strong data from the U.S. economy, and improved manufacturing sectors in China, in addition to the high dollar and the rise of the stock and after investors purchase items safe havens and led by gold and the yen.

Gold was ended the session on Wednesday, down 0.25 percent, while its rise monthly for the first time in four consecutive months during the month of July after Bernanke said Governor of the U.S. Federal during this month that the bank will not begin to withdraw monetary stimulus only when it is confirmed that the economy American became strong enough.

U.S. data showed economic growth accelerated unexpectedly in the second quarter to 1.7 percent on an annual basis as the private sector added 200 thousand jobs in July, exceeding analysts’ expectations.

Showed other data issued today perform better than expected for the manufacturing sector in China and the index rose official purchasing managers in China to 50.3 in July from 50.1 in the previous month, a reading stronger expectations that referred to 49.8, which led to the decline of some fears of slowing Chinese economy.

There is no doubt that the strong data in the first and second largest economies in the world have contributed to raising expectations about the growth of the global economy and increased the wave of investor optimism and is what reflected in the of purchasing centers in the Sanitary and safe havens led by gold and the yen.

On the other hand the Federal Reserve to avoid giving any signal to reduce its monetary stimulus program despite upbeat data on economic growth and jobs in the private sector in the United States, the council said yesterday after a two-day meeting that the economy continues to recover, but still need support.

The Council will continue at the current time to buy bonds worth 85 billion dollars a month as part of its efforts to support the economy, which still faces a challenge of the federal budget austerity and weak growth abroad.

Precious metal gold is trading at 07:58 GMT, GMT around $ 1318.18 an ounce after recording the highest price of $ 1330.95 and a low price of $ 1316.81.

August 1, 2013
Gold prices falls after U.S. data , Federal decisions may change the situation

Gold price fell on Wednesday after U.S. data positive for the largest economy in the world, the data showed improved U.S. economic growth better than expected, with the success of the private sector to provide jobs highest pace in four months, and this has changed the situation again in favor of higher gold prices in the case that the Federal U.S. to keep the same monetary policy during the month of August with the continuation of the same program for a further stimulus for quite some time.

Gold had risen Asian and European the session with the decline in the U.S. dollar and stocks fell in Asia, especially Japanese equities.

Record U.S. economy growth the second quarter by 1.7 percent, better than expected, which indicated growth by 1.1 percent, lower by a slight 1.8 percent growth rate of the first quarter, comes this outcome in light of entry to reduce government spending into effect to be given a strong signal for the cohesion U.S. economy into a growth phase completely and permanently.

And showed U.S. private sector success in the addition of 200 thousand jobs during the month of July better than expectations that referred to 179 thousand jobs, better than the previous reading for the month of June revised from 188 thousand to 198 thousand, and this result represents the highest frequency to create new jobs during the four months Last.

This issue later in the day decisions of the Federal Reserve for monetary policy for the month of August, and waiting for any signs of markets for monetary stimulus program.

Precious metal gold is trading at 13:22 GMT, GMT around $ 1322.20 an ounce after recording the highest price of $ 1338.62 and a low price of $ 1319.57.

July 31, 2013
Gold Price Today – 31 July 2013

Hedge funds raised bets on the current rally of gold, and speculate that the Fed will curb the trigger monetary easing policy today, which will lead to price rises about the biggest gains in eighteen months. While Goldman Sachs differed in his view, sharp downward trend in prices.

Based on data of the Commission Futures Trading commodity in the United States, we note the high transactions net purchasing (Net-Long) by fund managers and investors in commodity markets by 26 percent to 70.067 contract for options, it is true for the third and twentieth of July, a rise the fourth consecutive weekly, and the longest since October.

Gold futures rose 8.6 percent in July, destined to the largest monthly gain since January 2012, coincided with the statements made by the Fed “Ben Bernanke,” which stipulates that reduce the purchase of bonds and curb the quantitative easing policy is imminent. But actually the precious metal remains in the Dubai market since April, and to him for the first annual loss in 13 years after losing some investors in gold as a safe haven faith. According to recent statements by Goldman Sachs on July 22, prices are continuing to fall.
Gold gains

Gold rose last week by 2.8 percent to close at $ 1,329.60 per ounce and thus was a third weekly increase in a row.

In terms of economic data we have seen a decline is expected in the sector data unemployment and U.S. home sales, which confirms speculation that growth is not strong enough to modify the policy of quantitative easing, According to Bernanke’s testimony before Congress on July 17, the amendment in the policy depends entirely on the performance of the economy.

We have doubled the yellow metal price since the end of 2008 to its highest level on record in September 2011 up to 1923.70 dollars an ounce, after a series of reduction of acute interest bank U.S. down to a record low, and thus weaken the U.S. dollar and a rise in the price of gold, and then observed frequencies in the peaks Finished a new cycle of falling when breaking the 1525 dollars per ounce.

At the basic level of the market in short time periods has expanded Russia and Kazakhstan, their gold reserves for the ninth consecutive month in June, according to International Monetary Fund data on July 25, it increased the demand for it recently helped the market to rise. On the other hand, according to the World Gold Council, the central bank will buy about 400 thousand metric tons in 2013, after the addition of approximately 535 thousand tons last year, the largest number since 1964.

Goldman Sachs

In sharp contrast than mentioned above, the point of view Goldman Sachs is towards the future price of gold, According to statements made by analysts, the bank-led “Jeffrey Currie,” the price of gold will decline with the improvement of the U.S. economy, and that the decline will be areas in 1050 dollars per ounce by the end of next year.

Accredited in their analysis reports data on 26 July, which showed a rise in confidence among U.S. consumers to their highest level in six years, and a slowdown in demand for jewelry and bullion by traders.

Goldman Sachs describes the recent rise of gold on it is correct enough not more, in terms of the market cycle will face considerable resistance from traders in the case continued to rise, and therefore not inevitable but to decline again in the short and medium periods range.

But at the end of the report stated that they are still waiting for the U.S. Reserve’s comments on the policy.
Gold waiting for the Fed’s comments today, and the statement of the U.S. employment report at the end of the week

July 31, 2013