Category: Gold news

Gold prices rebounded from earlier losses Uprising traded slightly higher during trading on Wednesday, after the Reserve Bank shrank index of manufacturing conditions in New York unexpectedly in April / May, adding to concerns about the strength of the economy.

On the Comex division of the New York Mercantile Exchange, gold fell June delivery, the lowest price in the session of $ 1,188.50 per ounce before trading at 1,193.50 during morning trading in the United States, up by 1.10 cents, or equivalent to 0.09%.

On the previous day, gold prices surged to US $ 1,183.50 per ounce, a level not seen since the gold April 1 before ending the session at $ 1,192.60 per ounce, down by 6.70, or the equivalent of 0.56%.

And was likely to find support gold at $ 1,180.50 per ounce, the lowest price since April 1 and resistance at $ 1,209.30 per ounce the highest price since April 13.

In a report, Federal Reserve Bank of New York said that the general index of business conditions fell to -1.2 this month from the reading of 6.9 in March Analysts had expected the index to 7.0 recorded in April / Braille.

And raised the disappointing data of new concerns about the strength of the economy, sparking speculation that the Federal Reserve may delay interest rates for a long time until late 2015, instead of a stress in the middle of the year.

The dollar index, which measures the strength of the dollar against a basket of six major currencies, was up 0.3% to trade at 99.30 after the release of the data, its highest price during the day by 99.58.

In another place in the Comex, silver May delivery fell 0.8 cents, or equivalent to 0.05%, to trade at $ 16.15 an ounce, while declining {8831 | Copper}} May delivery increased by 1.5 cents, or equivalent to 0.56%, currently trading at $ 2,685 a pound.

During earlier, official data that China’s economy grew by 7.0% in the first quarter showed, in line with expectations and down from growth of 7.3% in the previous quarter. This was the slowest pace of growth since the global financial crisis in 2008.

A separate report showed that industrial production rose at an annual rate of 5.6% in the March / March, below expectations for an increase of 6.9%, after a gain of 6.8% in the preceding month.
Came retail sales and industrial production reports both below expectations, pointing out that China needs to further move to prevent the continued slowdown in the economy.

Asian nation is the largest consumer of copper in the world, formed almost 40% of global consumption.

Gold prices fell to record the lowest price during the trading day Allathae, after data showed that retail sales in the United States rose less than expected last month.

On the Comex division of the New York Mercantile Exchange, gold fell in June, the lowest delivered price of $ 1,183.70 per ounce during the day, the lowest price for gold since April 1, before trading at $ 1,190.30 per ounce during trading morning US time shed 9.00, or the equivalent of 0.75%.

On the previous day, gold fell 5.30 cents, or equivalent to 0.44%, to close at $ 1,199.30 an ounce, and was likely to find support gold at $ 1,180.50 per ounce, the lowest price since April 1 and resistance at 1,224.50 the highest price per ounce of $ April 6 since.

The US Commerce Department said that retail sales rose 0.9% last month, dashing hopes for associating expected to rise 1.0%. Retail sales fell by 0.5% in February, that figure was revised from a previous decline by 0.6%.

In a separate report, the Commerce Department said that producer prices rose 0.2% last month, in line with expectations and after falling 0.5% in February

The on-year producer price index fell by 0.8% in the month of March / March, agreeing to expectations after a decline of 0.6% in the preceding month.

The dollar index, which measures the strength of the dollar against a basket of six major currencies, was up 0.25% to trade at 99.49 early on Tuesday.

In another place in the Comex, silver May / May delivery fell 19.1 or equivalent and 1.17%, to trade at $ 1616.10 an ounce, while copper meet May delivery fell 3.4 cents, or equivalent to 1.26%, to trade at 2, US $ 685 per pound.

Copper traders are awaiting the release of gross domestic product data for the first quarter of China on Wednesday.

It is expected to show that the second largest economy in the world increased by 7.0%, and the decline of 7.3% in the previous quarter. Beijing has set a target for the growth of “7.0%” in 2015 after the economy grew by 7.4% in 2014, the slowest pace in 24 years.

Asian nation is the largest consumer of copper in the world, formed almost 40% of global consumption last year.

DOHA: India’s new “gold monetisation scheme”, announced by country’s Finance Minister Arun Jaitley in his annual budget speech here the other day, is expected to hit hard Qatar’s gold market, especially the demand for gold bars and coins (bullion, sold in 24 and 22 carats), according to trade sources.

“The scheme will definitely have an impact on Qatar’s bullion market. Many Indian expatriates who used to invest in gold may now prefer to buy gold bonds or gold coins back home,” Azim Abba, Managing Director of Al Sulaiman Jewellery and Watches, told The Peninsula yesterday.

However, Qatar’s jewellery market is expected to remain unaffected as people will continue to buy their ornaments here rather than in India as products in the local market enjoy greater degree of trust of customers in terms of purity and genuineness, he said.

Under the new gold policy, India is aiming at reducing high demand for overseas gold by introducing products such as sovereign gold bonds and gold coins to improve its current account balance. These schemes will not only help reduce the demand for physical gold in India, but will also end up ‘reusing’ or ‘recycling’ the idle gold, including jewellery, lying in homes, bank lockers, temples, shrines and other charitable organisaitons.

According to World Gold Council, the full year world gold demand in 2014 stood at 3,923.7 tonnes, and India is its largest importer. The gold-hungry country buys some 800 tonnes to 1,000 tonnes a year, which is about one-fourth of the total global demand.

Facing huge current account deficits due to this, India’s previous government took several policy decisions to curb on the imports of gold, including imposing high import duties and 80:20 scheme under Reserve Bank of India.

India’s existing gold import policy restrict female Non-Resident Indians (NRIs) from carrying gold worth more than QR5,905 (Rs100,000), once in a year. The male NRI is allowed to carry gold worth QR2,952 (Rs50,000). Market experts say this has to be changed and India has to be more liberal.

Although the recently removed the 80:20 scheme that required gold importers to export 80 percent of raw gold they import as finished products. However, the new government did not announce any cut at the record 10 percent import duty on gold in the budget, which is a major setback for jewellers in India.

Commenting on India’s budget announcement on gold and its possible market impact in Qatar, the Doha Bank CEO, Dr R Seetharaman, said: “It all depend on the purpose for which gold is procured whether for consumption or investment…India’s import duties and consumer preferences will also have a bearing on demand for gold in Qatar.” Doha Bank is one of the bullion traders in Qatar.

Gold began trading in 2015, more or less close to the same level at this time of the year 2014. The adverse effects of gold in 2014 were many, notably the rise of the dollar 14% compared to a basket of major currencies, while inflation expectations in the US fell by 0.75% and increased expectations of an imminent hike from the US Federal Reserve.

Despite all these adverse effects Hafez gold on a good performance in the past few months to help him piece deteriorating outlook in Europe and in particular the implications of the political crisis in Greece and Ukraine. Kmalk Speculation later on a Greek exit from the euro zone if the left-wing party won 25 elections in January

During the past 12 months we have seen that the exchange-traded products, which are backed by gold property fell by 161 tonnes while the hedge fund and account managers increased their possession in the futures and options for 167 tons. Expectations in the short and medium term still refers to the low price of gold before the expected recovery later in 2015.

The piece, the rise of gold is still limited, especially against the dollar, and it is necessary to break the barrier of 1214 the highest level December 18 so that it can break the 1238 high 10 December However, any breach of a sudden these levels will be due to the fact that gold as a safe haven happened today and ahead of general elections in Greece January 25 and Kmalk any future incentives from Europe and China.

Sell gold at or above 1210 with stop orders above $ 1218 per ounce currently seem best in terms of how to trade starting in the new year option. But as we have seen on several occasions during the past month, the 1180 looks solid support point at this stage.

The graph below indicates the spacing in the relationship between the dollar index and the spot price of gold, where the close relationship over the past few months, which indicates the good performance of gold. But do not forget that gold demand is still weak and that political influences and central banks are still the real effects of any swing in prices.

SINGAPORE (Reuters) – Gold prices continued to climb above $ 1,200 an ounce during the Asian trading on Tuesday as investors buy the precious metal as a safe investment amid falling global stock and anxiety about the future of Greece in the euro zone.

Asian stocks posted losses on Tuesday, affected by the slump in oil prices and political uncertainty in Greece. On Wall Street, the New York Stock Exchange indicator of the Dow Jones Industrial Average and the S & P 500 US stocks closed the biggest losses for one day in about three months.

Speculation is growing that Greece may withdraw from the euro zone if the leftist Syriza party, which vowed to end austerity measures and reduce the country’s debt in the elections to be held on January 25 in January, won as expected.

The price of gold for immediate sale 0.2 percent to $ 1207.80 an ounce by 0415 GMT, upping its gains in the previous session, which amounted to 1.3 percent.

Gold prices rebounded in the latest trading session, its lowest level in a month, as the weaker-than-expected manufacturing production in the United States data overshadowed the impact of the rise of the dollar.

And went down the price of gold in online transactions to its lowest level since the beginning of December, recording 1168.25 dollars per ounce after the rise of the dollar.

By 1733 GMT, the metal trimmed losses to fetch up to $ 1183.76 an ounce, up 0.2 percent.

The market saw a meager liquidity in trading after the holiday closure amid Chinese and Japanese markets.

Gold prices tend to end the week on a third weekly decline registered losses in a row.

The price of gold in US futures contracts for delivery in February 0.2 percent to $ 1186.20 an ounce.

And out of the yellow metal in 2014 losses amounted to about two percent after coming off 28 percent in the previous year.

And many analysts predict a difficult year for gold, where the dollar is expected to bring more gains support from expectations of higher US interest rates and the economy recovers.

The dollar rose to its highest level in nearly nine years, it rose 0.9 percent against a basket of six major currencies, an increase mostly due to the depreciation of the euro, which went down to the lowest level in four and a half years.

The euro fell after the European Central Bank boosted expectations take bolder steps on monetary stimulus later this month.

Among other precious metals silver fell 0.13 percent rate to $ 15.66 an ounce, after incurring losses metal ratio of 19.3 percent in 2014.

Platinum fell 0.7 percent to a rate of $ 1194.10 an ounce, after dropping 12 percent in the past year.

The price of palladium rose 0.54 percent to $ 792.72 an ounce after jumping 11 percent in 2014 to its highest performer among precious metals, which is mainly due to concerns about the supply of Russia’s largest producer of the metal.

LONDON (Reuters) – Gold prices jumped more than 2 percent during trading on Tuesday, supported by new purchases with the US dollar’s decline and fall of the stock markets.

The precious metal also received support from the anxiety of growing tensions between Russia and the West.

The Gold price jumped spot sales of 2.3 percent to 1209.90 dollars per ounce before retreating slightly to 1204.90 dollars by 1515 GMT.

And stepped up US gold futures for February delivery of more than 2 percent to $ 1210.90 before declining slightly to $ 1205.90.

Among other precious metals, silver spot sales rose 1.8 percent to $ 16.35 per ounce.

Gold prices and silver wave losses for a fourth straight session on Monday, and continued in Asia, approaching the lowest level in more than four years with the rise of the dollar, which has increased the demand for sales and expectations for further decline.

And precious metals received a painful blow on Friday after the Bank of Japan’s decision to increase the sudden massive purchases of bonds, which pushed the yen to fall to its lowest level in seven years against the dollar.

The dollar reached its highest level in four years against a basket of major currencies, which is somewhat larger than the degree of attractiveness of gold as a hedging tool.

The price of gold fell in online transactions 1% to $ 1161.70 an ounce, before rising to $ 1171.06 at the end of trading Asia.

Silver fell to $ 15.72 an ounce, the lowest price since February 2010.

Gold prices Record lowest level in three months on Wednesday, with the stability of the dollar index near its highest level in more than a year with support from expectations that the Federal Reserve might be heading towards the reference to an early date to raise interest rates.

The inn Spot gold to the weakest level since early June, when 1,246,79 dollars an ounce, and by the time 13:23 GMT amounted to $ 1,248,74, down 0.5%. And increased futures American Gold for December delivery $ 1.20 to 1,249,70 dollars to remain close to the lowest level in the session to $ 1,246,40.

The price of gold has risen in the first half of the year after losing 28% in 2013, but the weakness in the current quarter trimmed those gains since the end of December to only 4%.

And exhibits the dollar rallied since early July, thanks to talk about a possible increase in American interest rates. This is likely to hurt the precious metal in the light of its impact on the dollar, which is priced in it, and also because it would increase the cost of owning the underlying metal, which does not generate interest.

He received the precious metal on the support of tensions between Russia and the West over Ukraine, but the labels on the conflict might be restless obtained from this support.