Category: Gold news

Gold rises ahead of Fed meeting results

Gold futures rose Wednesday as investors awaited the results of the meeting of the Fed’s policy is expected later in the trading session.

On the Comex division of the New York Mercantile Exchange, traded gold futures for December delivery at $ 1 331.35 a troy ounce during European morning hours, up by 0.5%.

Gold prices rose in the COMEX by up to 1.1% earlier in the session to reach its highest price for the day at 1, 339.15 dollars per ounce.

Was likely to find support at 1 gold, $ 308.75 an ounce, the lowest price in the period of July 25 and resistance at 1, 347.85 dollars per ounce, the highest price since July 23 ..

Market awaits the outcome of the next general policy of the Federal Reserve later in the day in the hope that the central bank provides more evidence of the possibility of reducing the monthly bond-buying program.
In addition, traders awaited the release of U.S. growth for the second quarter scheduled for later in the session for clues on the progress of the economic recovery.

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

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

This precious metal on track fell by 21% from a year amid concerns that the Fed will reduce the stimulus program before the end of 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 0.8% to trade at $ 19.83 an ounce, while copper for September delivery rose by 1.1% to trade at 3.075 Dolarlertal.

The red metal rose in the hope that policy makers in China will not do the work of a new relief measures to boost growth in the second largest economy in the world.

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

July 31, 2013
Gold futures down and waiting for U.S. data and Fed meeting

Gold prices moved higher on Wednesday as the dollar fell ahead as markets awaited the release of the minutes of the meeting of the Federal Reserve Board and the word of Federal Reserve Chairman Ben Bernanke later in the day, it is known that gold and the dollar Trading inversely with each other.

In the Comex division of the New York Mercantile Exchange, rose gold futures for August delivery rose 0.50% to trade at 1252.15 dollars an ounce in U.S. trading Wednesday, up from a session low at 1242.35 dollars and downs of the highest price the day at 1260.05 dollars per ounce.

It was likely to find support at the lowest price on Monday of $ 1214.55 and resistance at the highest price on July 2, $ 1266.55.

It is scheduled to be released Fed monetary policy meeting minutes of its last meeting in June, later than Wednesday, which enter the dollar and gold in the case of uncertainty.
While the published data on the U.S. economy, including the labor market data, and the manufacturing sector, industry, housing and other sectors of the economy, came in mostly better than expected, but that set expectations in the case of uncertainty about whether these reports are strong enough to justify the Fed’s plans who intends to end monetary stimulus measures sooner rather than later. Which caused the decline of the dollar in mid-session trading on Wednesday.

And it seemed likely that the dollar will continue to recover if investors found in the minutes of the meeting of the Fed’s indication that the bank is approaching end its asset purchase program to stimulate the economy which is spent by the bank $ 85 billion per month.

While many investors feel that the Fed Sitbdo in reducing these tools later this year, but there is a state of anxiety about the exact timing of which will be presented by the bank on it, pushing gold higher on Wednesday, especially in light of talk that the Fed may resort to end stimulus policies in December rather than market expectations lately about September / September.

Elsewhere on the Comex, silver rose September delivery rose 0.44% to $ 19.223 an ounce, while copper for September delivery rose by 0.91% and traded at $ 3,092 a pound

July 30, 2013
Gold falls ahead of Fed meeting

Gold futures fell on Tuesday, as the U.S. dollar rose to gains before the next policy meeting of the Federal Reserve Board, amid growing doubts about the future of the monetary stimulus program of the Central Bank.

On the Comex division of the New York Mercantile Exchange, fell Gold futures for December delivery traded at $ 1 325.55 a troy ounce during European morning hours, shedding 0.32%.

Settled the contract for the month of December by 0.58%, to hit 1, 329.6 dollars per ounce on Monday.

Was likely to find support at 1 gold, $ 308.75 an ounce, the lowest price in the period of July 25 and resistance at 1, 340.15 dollars per ounce, the highest price since July 26.

Gold prices fell after data showed on Monday that pending home sales fell less than expected in June to June, which increased expectations of an end to bond-buying program in the near term from the Fed.

Industry data showed that Pending home sales in the U.S. fell 0.4% in June, less than the expected drop of 1%, after a 5.8% rise in the previous month.

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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.

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.

Traders awaited data on the S & P / Case-Shiller, an indicator for 20 of the houses followed the Conference Board’s report on consumer confidence.

Elsewhere in Comex silver fell for September delivery rose 0.71% to trade at $ 19.723 an ounce, while the decline in copper for September delivery rose 0.75% to trade at $ 3.084

July 30, 2013
Gold fell after the rise 3 weeks amid anticipation of Fed Meeting

Gold price Decline on Monday after three weeks of gains as investors awaited the results of an important meeting held by the monetary policy committee of the Council of the U.S. Federal Reserve (central bank) this week to discuss the timing in which the Council starts its catalytic reduction.

The precious metal has risen nearly ten percent in three weeks, the largest increase of its kind in nearly two years after being assured the Federal Reserve (the U.S. central bank) for the financial markets that it will not begin withdrawing monetary stimulus only when confirmed that the U.S. economy has become strong enough.

While gold declined 21 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.

He said Fed Chairman Ben Bernanke this month that it is premature for the Bank decides whether to start reducing purchases of debt in September appropriate for the economy, after it said on 19 June that the bond purchases could slow if the economy improves, while markets await the results of a meeting of the Committee and Federal Open Market, which begins on Tuesday a two-day meeting.

Unlike the results of a meeting of the Policy Committee of witnessing the U.S. economy many important data throughout this week jobs report on Wednesday, and issued GDP for the second quarter on the same day, and released on Thursday, weekly jobless claims, and Friday’s jobs report Nonfarm and unemployment, which is no doubt that this data will be given strong indications on the health of the U.S. economy.

This precious metal is trading gold by the time 13:18 (GMT) on the level of $ 1328.34 an ounce after recording the highest price of $ 1338.21 and a low price of $ 1322.80.

July 29, 2013
Gold continues to trip ups and starring Investment attractiveness

Gold prices stabilized yesterday after he stepped in late trading to offset initial losses and end the week up about 3 per cent taking advantage of the dollar’s decline as markets awaited the U.S. central bank at the end of a meeting of its monetary policy committee this week.

The precious metal record third consecutive weekly increase, the longest series of weekly gains since March / March.

The dollar fell on Friday to its lowest level in 5 weeks against a basket of major currencies due to speculation that the Council’s Open Market Committee of the U.S. Federal Reserve next week will confirm its intention to keep interest rates low for a long time.

The price of gold for immediate sale $ 61.1332 an ounce at the end of trading on the New York market little changed from the previous closing level.

Traders said that investors resorted to profit-taking selling when gold jumped earlier in the session to 1340 dollars per ounce, up about $ 160 from the lowest level in 3 years who Hui him in June 28.

And record the yellow metal gained more than 9 percent in the three weeks after that assured the Central American financial markets in late June that it will not begin reducing its stimulus cash only when it is sure that the largest economy in the world strong enough depending on its own.

Gold lost 20 percent of its value since the beginning of the year, as investors fear the U.S. recovery could prompt the Federal Reserve to reduce its purchases of bonds in the amount of $ 85 billion per month.

Among other precious metals silver fell 2.1 percent to $ 99.19 an ounce, while platinum fell 3.1 percent to $ 75.1427 an ounce and palladium fell about 2 percent to $ 97.722 an ounce.

Gold prices continued to decline last Thursday after he fell two percent in the previous session as increased profit-taking after the price drop on the level of support near 1320 dollars per ounce.

Gold prices rose over the four sessions until last Tuesday to the highest level in a month after assurances from the U.S. Federal Reserve Board that any change in its program of quantitative easing Booster Gold will depend on the data.

And went down the price of gold on the spot market 7.0 percent to $ 20.1311 an ounce during trading.

Gold price fell U.S. futures for August delivery $ 30.8 to $ 20.1311 an ounce.

The price of silver hostel 6.1 percent to $ 82.19 an ounce and platinum fell 1.1 percent to $ 49.1425 an ounce. The price of palladium fell 4.1 percent to $ 97.733 an ounce.

And determine the price of gold in the morning session blocks in London last Thursday at 1312 dollars per ounce, down from 1335 dollars in the previous session cutting.

The price of gold at the previous close in New York 69.1320 dollars an ounce.

Gold fell 5.2% last Wednesday as signs prompted the continuation of the economic recovery in the United States and Europe funds to exit from the gold market after recent gains made by his rise to the highest level in a month.

Gold scored the biggest loss in a single day during the month and lost its appeal as a safe haven due to several combined factors, including the sharp rise of the dollar and the decline in futures prices for oil and rising U.S. Treasury yields.

Continued gold losses during the session after data showed rising sales of new homes in the United States in June to the highest level in five years, while reports showed further growth of the private industrial sector in the euro zone for the first time in more than a year in July, a month that saw when the United States is a growth in manufacturing production and jobs. Gold fell in the spot market 4.2 percent to 1315 dollars per ounce during trading, while futures rose for gold in the United States for August delivery / August $ 15 to $ 70.1319 an ounce at the settlement.

Silver fell two percent to $ 04.20 an ounce, platinum fell 3.0 percent to $ 75.1442 an ounce and palladium rose 6.0 percent to $ 50.743 an ounce.

Gold rose to the highest level in a month on Tuesday after accept speculators to buy again ahead of the expiration of option contracts later this week after the precious metal broke through a technical barrier at $ 1,300 an ounce in the previous session.

After volatile trading mostly in the earlier Gold rose in late trading in thin trading after the payment of the dollar’s decline funds to cover the city centers.

During trading, spot gold rose 6.0 percent to $ 74.1342 an ounce after hitting a new record level in a month earlier at $ 11.1346 an ounce.

And U.S. futures fell for gold of $ 30.1 at the settlement to $ 70.1334 an ounce.

As for the other precious metals silver fell 3.0 percent to $ 47.20 an ounce after rising five percent Monday.

Platinum rose 1.0 percent to 1442 dollars and palladium fell one percent to $ 72.736 an ounce

Cover centers

Gold record highs last Monday in the month, up nearly three percent since the break technical resistance at $ 1,300 an ounce (an ounce) Payment of investment funds and speculators to cover short positions.

The precious metal is about to record the largest increase in three days during more than a year supported by intensive operations to cover the city centers.

Said Carlos Sanchez, director of commodity and asset management at CNN. Me. M. Group “after the construction of more centers of the city over the last two months is not surprising to see the coverage of these centers because of the high prices.”

The price of gold in the spot market 9.2 percent to $ 06.1333 an ounce during trading after the earlier record of $ 76.1334, the highest price since June 20.

And U.S. futures rose gold for delivery in August / $ 70.39 to $ 50.1332 an ounce and silver increased 4.5 percent to $ 52.20 an ounce.

Platinum rose last Monday, 5 .1 percent to $ 7.1444 an ounce, while palladium rose 5.0 percent to $ 748 an ounce.

July 28, 2013
Gold end the week up 3%, continuing to climb for a third week in a row

Gold prices stabilized on Friday after he stepped in late trading to offset initial losses and end the week about 3 percent higher benefiting from the dollar’s decline as markets awaited the U.S. central bank at the end of a meeting of its monetary policy committee next week.

The precious metal record third consecutive weekly increase is the longest series of weekly gains since March.

The dollar fell on Friday to its lowest level in five weeks against a basket of major currencies due to speculation that the Open Market Committee to the U.S. Federal Reserve next week will confirm its intention to keep interest rates low for a long time.

The price of gold for immediate sale $ 1332.61 an ounce at the end of trading on the New York market little changed from the previous closing level.

Traders said that investors resorted to profit-taking when gold jumped earlier in the session to 1340 dollars per ounce, an increase of about $ 160 for the lowest level in three years who Hui him in June 28.

The yellow metal record a gain of more than 9 percent in the three weeks after the U.S. central reassured financial markets in late June that it would not begin to reduce its monetary stimulus program only when it is sure that the largest economy in the world strong enough on its own.

Gold lost 20 percent of its value since the beginning of the year, as investors fear the U.S. recovery could prompt the Federal Reserve to reduce its purchases of bonds in the amount of $ 85 billion per month.

Among other precious metals silver fell 1.2 percent to $ 19.99 an ounce, while platinum fell 1.3 percent to $ 1427.75 an ounce and palladium fell about 2 percent to $ 722.97 an ounce

July 27, 2013
Losing Weight for Gold in Dubai

“One’s weight in gold” is no foreign concept and is now being put to use in the UAE. Apart from the present Ramadan fasting, the inhabitants are being motivated to shed more pounds through an original contest.

A Golden Solution

The United Arab Emirates are also facing the obesity problem, which has reached an alarming level. To motivate the inhabitants to lose weight, a special contest was created: Your Weight in Gold. The rules are as follows: for 1 kg or 2.2 pounds, a resident will win one gram of gold. The minimum drop is of 2 kg. Considering the gold rate in Dubai, this means about $45. Those who will occupy the first 3 positions in the final charts will win gold coins valued at $28,000.

The Big Names Are in the Game

The contest begins on Friday, the 19th of July and participants will be weighed publicly. There are no limits to the gold that’s being out there to be earned. Therefore, there can be as many contestants as desired and they will feel free to shed as many pounds as they can, without fearing the supplies end. The partners of the event are the Dubai Multi Commodities Center and the Dubai Gold and Jewelry Group. None of the officials have set any limits for the contestants.

Wealth vs. Obesity

The wealthy Arabic nation admits obesity to be at alarming levels. The country has some of the highest rates in the world, as 50% of adult residents are obese. This is mostly due to the popular fast-food chains. The rates of diabetes are also on the rise. The government of the biggest city in the UAE, namely Dubai, has been trying hard to find a way to fight this obesity issue. The gold for weight idea just might work.

The final day of the contest and the last weigh-in is scheduled for the 16th of August. It would be highly recommended, though, to attempt to lose in weight in healthy and not radical, harmful ways.

The State of the Gold Market in Dubai

Considering the gold rate in Dubai, the situation is of great interest at the moment. Retailers and various gold hotspots have been retreating some of the stocks because of the too low value. These will be back on display when the value goes up again. Gold bars in the UAE are no longer so easy to come by. This is because the drop in the Emirates was the lowest in the past 70 years. Even if some vendors had it in stock, they wouldn’t sell their gold. For the recent months, those who have been looking to buy gold invested in the smaller items found in the small stores – coins and jewelry. Investing in currency is an unstable business and thus the people have turned to physical precious metals.

With the low gold rate in Dubai, even those with a modest budget would look for small items to buy and stock on, as owning something material gives a better feeling of security. Stores in Doha have reported that their business doubled since the gold value dropped. Many customers have faced refusals because shops are reluctant to selling more while the value is still down.

The West is now also aware of what is happening in the eastern market, and the US has seen a higher demand of gold coins. Given the gold rate in Dubai and the trends, Americans are seizing the opportunity and buying American eagle coins.

Why Everyone Want the Dubai Gold

As the City of Gold, Dubai keeps the tradition going strong – it knows that this metal has always been an investment. There are hundreds of gold shops in its streets and their stock is sold tax-free, which results in cheaper prices. There is no VAT for the UAE gold and this has a great impact on the gold rate in Dubai. Compared to those in the West, the prices here are about 40% cheaper. Additionally, it has been proven beneficial for shoppers to look around and compare similar items, as this would reveal some stores that price them more advantageously. Each store displays its own price per gramme. Usually the Gold Souk offers a better experience for buyers. Those who are feeling uncertain about such investment should watch the live gold price charts first and then go for a shopping session. It is advisable to take your time when looking to buy.

July 27, 2013
Gold, silver rebound on fresh stockists buying, global cues

NEW DELHI: Both the precious metals, gold and silver rebounded in the national capital today on fresh buying by stockists driven by a firm global trend.

While gold recovered by Rs 325 to Rs 28,145 per ten grams, silver gained Rs 125 to Rs 41,350 per kg on increased offtake by industrial units and coin makers.

Traders said fresh buying by stockists in line with a firm global trend, as US economic data backed the case for sustained monetary stimulus, mainly boosted the sentiment.

Gold in Singapore, which normally sets price trend on the domestic front, gained 0.6 per cent to USD 1,341.20 an ounce and silver by 0.5 per cent to USD 20.35 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity rebounded by Rs 325 each to Rs 28,145 and Rs 27,945 per ten grams, respectively.

The yellow metal had lost Rs 545 in last two sessions. Sovereign followed suit and rose by Rs 200 to Rs 24,400 per piece of eight gram.

In line with a general firm trend, silver ready recovered by Rs 125 to Rs 41,350 per kg and weekly-based delivery by Rs 190 to Rs 41,280 per kg. The white metal had lost Rs 895 in the previous two sessions.

Silver coins also spurted by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

July 26, 2013
U.S. Dollar Index falling to its lowest level in 5 weeks and EUR rises

The dollar fell to its lowest level in 5 weeks against a basket of currencies on Friday as traders trimmed centers payable in anticipation of the issuance of a negative message from the U.S. central bank meeting next week.

Traders pointed to a report by the Wall Street Journal reported that the U.S. central may discuss changing the future outlook confirms that it will keep interest rates low for a long time.

The dollar index fell 0.5%, the lowest levels of the session at 81.57, its lowest level since June 20 before he pares losses to trade around 81.66 points.

The euro rose to its highest level in 5 weeks against the dollar at $ 1.3297 before falling slightly to $ 1.3281 at 10:00 GMT.

The dollar fell against the yen is about 0.6%, to 98.65 yen after hitting its lowest price since the morning at 98.50 yen

July 26, 2013
Gold erases early gains despite the dollar’s decline and heading for a third week of gains

Gold erased early gains on Friday despite the dollar’s decline, but tends to record a gain for the third consecutive week, supported by dollar weakness and hopes to continue soft monetary policy for a long time.

The precious metal has risen about 10% in three weeks, the largest increase of its kind in nearly two years after the U.S. central bank stressed that financial markets will not begin to withdraw monetary stimulus only when confirmed that the U.S. economy has become strong enough.

At 10:30 GMT, the price of gold fell about $ 4 for up to 1329 dollars an ounce after earlier rose to 1340 dollars.

Said Danny Adler, head of operations any. T. F. Securities in Australia and New Zealand “sentiment towards gold has changed in recent weeks as the market believes that the impact was absorbed most of the bad news already.”

He added, “I’m not saying investors should buy gold, but the market has become less downs.”

Gold lost about a fifth of its value since the beginning of the year, as investors fear the strong recovery of the U.S. economy, which could push the U.S. Federal Reserve to reduce or withdraw the monthly monetary stimulus money amounting to 85 billion pounds. Exodus of funds investing in gold also presses on prices.

Silver fell in online transactions 14 cents to record the lowest levels of the session at 20.06 dollars per ounce.

The price of palladium lost in September contract 3.5 dollars to 737.2 dollars an ounce

July 26, 2013