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Category: Gold news

  • Gold compensates losses globally .. And high pressure on stock prices

    Gold compensates losses globally .. And high pressure on stock prices

    Gold compensates losses globally .. And high pressure on stock prices

    Gold recovered some ground on Thursday, as it began the losses suffered by the recently slaughtered desire to purchase by jewelers in Asia after the Lunar New Year holiday, but rising stocks may limit gains.

    The eyes will be on the meeting of finance ministers and central bankers in the Group of Twenty in the weekend for clues to global growth and exchange-rate policies, which could determine the direction of gold and other precious metals.

    Gold settled at $ 1643.30 an ounce by the time of 0708 GMT. The precious metal fell below $ 1,650 on Wednesday after data showed limited growth in disappointing U.S. retail sales and record the benchmark S & P 500 intraday highs since November 2007.

    Said Ronald Leung, manager at Lee Tchounj Gold Dalers in Hong Kong, “there is some appetite for buying from jewelers .. from Hong Kong. Believe that you can say that buying a limited scale.”

    And clung to both the dollar and the euro gains against the yen, while stocks rose before the Group of Twenty meeting. Could hurt the strength of the dollar demand for commodities denominated in U.S. currency.

    And landed Gold U.S. April delivery $ 1.70 to 1643.40 dollars an ounce, and the other precious metals rose silver price 0.20% to 30.79 dollars an ounce, and increased platinum 0.31% to 1723.24 dollars an ounce and settled palladium unchanged at 765.25 dollars an ounce.

  • Gold continues its losses

    Gold continues its losses

    Gold continues its losses
    Gold continues its losses

    Gold losses worsened to the weakest rate in more than a month, it fell to 1642 dollars per ounce, recording the lowest price since early January.

    The price of silver fell Spot $ 0.07 in Asia to 30.82 dollars per ounce.

    In currency markets, the yen pared losses in Asian trading after it aired in the previous session after a U.S. Treasury official said hinted Tolerance United States with the Japanese currency’s weakness as a side effect of efforts to combat deflation.

    Said Assistant U.S. Treasury Secretary for International Affairs Lael Brinard The United States supports Japan’s efforts to end deflation and boost growth.

    Against the dollar the euro fell 0.2% to 1.3380 dollars shy of the low level recorded in the eighth of this month at $ 1.3353, and without its highest level in 15 months reached in the first February.

  • China’s gold production exceeds 400 tons in 2012

    China’s gold production exceeds 400 tons in 2012

    China's gold production exceeds 400 tons in 2012
    China’s gold production exceeds 400 tons in 2012

    Showed recent statistics released by the China Association for recently went to the size of China’s production of gold has exceeded 400 tons, up to 403.047 tons in 2012, an increase of 42.09 tons, 11.66 percent from the previous year, where China has maintained first place in the world for six consecutive years.

    And knocked off the provinces of Shandong, Henan, Jiangxi, Yunnan and Inner Mongolia Autonomous Region and the provinces of Gansu, Fujian, Hunan, Anhui and Shaanxi in the top ten in terms of the volume of gold production in the country, is the volume of production 82.71 percent of the total in 2012.

    Assembly explained that China’s gold production was only 4.07 tons in 1949 and the total stock of gold a few. Since the seventies of the last century, China began to take a series of supportive policies for the production of gold and increasing investment in the gold industry to improve technology and equipment, with the aim of addressing the acute shortage of foreign exchange.

    The total production of China’s gold in excess of 100 tons in 1995, then came to 270.49 tonnes in 2007 to exceed the volume of production of South Africa, ranking first in the world.

  • Slight rise in the price of gold, platinum and palladium fell

    Slight rise in the price of gold, platinum and palladium fell

    Slight rise in the price of gold, platinum and palladium fell
    Slight rise in the price of gold, platinum and palladium fell

    Stabilized platinum and palladium yesterday and coherent after the gains made ​​with the boarding of the highest levels in months in the previous session, while the traders to sell for a profit, while little changed for gold again.

    Palladium fell in the spot market 0.3% to $ 753.54 an ounce by the time of 1054 GMT. And palladium rose to its highest level in 17 months at $ 759.75 on Monday in the wake of an increase for four consecutive weeks.

    And increased platinum in the spot market 0.2% to $ 1695.99 an ounce, down from the highest level in four months at $ 1705.25 hit in the previous session. And helped improved global economic outlook, in addition to the frequent disruption of supplies from South Africa’s largest supplier in the world, to achieve platinum and palladium performance is better than gold and silver this year, spurring investor interest.

    Analysts said the renewed concerns about the sovereign debt crisis for the euro zone hurt sentiment, which could put a strain on industrial demand for precious metals.

    Gold rose in the spot market 0.2% to $ 1677.30 per ounce, while futures settled in the United States went April delivery at 1678 dollars. Silver rose 0.6% to $ 31.91 an ounce.

  • Gold is trading in a narrow range in quiet trade

    Gold is trading in a narrow range in quiet trade

    Gold is trading in a narrow range in quiet trade
    Gold is trading in a narrow range in quiet trade

    Traded Gold futures in a narrow range during the Asian trading late Monday, while investment remained subdued due to the Lunar New Year holiday.

    Markets are closed in China, Hong Kong and Singapore because of the celebrations the Chinese Lunar New Year. Markets also are closed in Japan, Malaysia, South Korea, Taiwan and Vietnam for holidays.

    On the Comex division of the New York Mercantile Exchange, the futures trading of gold for April delivery traded at 667.55, $ 1 per ounce during Asian trading unchanged during the day.

    Prices traded in a tight range between 666.95, $ 1 per ounce, the lowest daily price for the day and the highest price for the session at 1, 670.25 dollars an ounce.

    Gold prices were likely to find support at 653.35, $ ​​1 per ounce, the lowest price since January 28, and the near-term resistance at 1, 685.65, $ per ounce, the highest price in the Feb. 5

    Investors awaited results of the meeting of the Bank of Japan on Thursday for policy policy, as well as the Group of Twenty meeting held on Friday, which was expected to include discussions on competitive devaluation.

    And the refusal of Prime Minister Shinzo Abe criticism about the stimulus program in the Bank of Japan aimed at weakening the yen, saying that the move aims to fight deflation.

    The Okhryogery hand euro traded near its lowest level in two weeks against the dollar, while the dollar index rose 0.1% to 80.35, its highest level since Jan. 10.

    The strength of the U.S. dollar usually affect gold weighs, because it alleviates the metal’s appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.

    From a technical standpoint, gold faces faces strong resistance at the level of -, 690 1. Dollars an ounce and analysts warned the market that the failure to break the top refers to move back toward the level, 650 1. Dollars per ounce.

    Elsewhere in the Comex, silver fell for March delivery rose 0.1% to trade at 31.46 dollars per ounce e, while copper fell for March delivery rose 0.1% to trade at $ 3.759 a pound

  • Gold rises and poor circulation amplify price movements

    Gold rises and poor circulation amplify price movements

    Gold rises and poor circulation amplify price movements
    Gold rises and poor circulation amplify price movements

    Gold rose despite the fluctuation of the euro on Monday and weakness of transactions due to the Lunar New Year holidays to inflate the price movement while meat platinum and palladium without their strongest levels in 17 months.

    And senior Nick Triffitan said metals analyst at AT. Said. ZTE in Singapore “I do not think that there are now many other effects in the market, and certainly not in the Asian market anyway except currency. So I think it will be to monitor the U.S. Dollar Index.

    “Prices may go up a bit and probably to $ 1672.90. Likely to be bottom at about 1665 dollars. It a very tight trading range.”

    In theory leads rise in the U.S. dollar to raise the cost of buying gold for holders of other currencies, while reinforcing high oil prices center gold as a hedge against inflation.

    Gold rose to $ 1669.31 an ounce and a record $ 1667.96 by the time of 0637 GMT, up $ 1.07 from the previous close. Among the main centers closed today in Asia because of holidays of Japan, China, Hong Kong, Singapore, South Korea and Taiwan.

    Gold contract rose U.S. $ 1.80 an ounce to $ 1668.70.

    The spot price rose for silver 0.10 dollars to 31.49 dollars per ounce.

    In contrast platinum fell $ 0.51 at $ 1712.49 an ounce, while palladium lost 2.04 dollars to 750.46 dollars an ounce.

    The Almadnan outscored gold and silver since the beginning of the year due to supply concerns and an improvement in demand for cars

  • UAE company requests a license to Mining for gold in Egypt

    UAE company requests a license to Mining for gold in Egypt

    UAE company requests a license to Mining for gold in Egypt
    UAE company requests a license to Mining for gold in Egypt

    Said deputy chief of nuclear materials, Dr. Adel Al-Afandi “Thani Dubai” Mining asked the Authority to be granted a license to conduct geological exploration and evaluation of gold exploration in western Shalateen located on the south-eastern border of Egypt.

    The Egyptian government, represented in the form of mineral wealth has signed an agreement in 2008 with “Al-Thani Dubai” Mining Emirati company obtained under the concession for gold zones basins and Wadi Kareem West Shalateen for 5 years ending in 2015, and Convention further provides production-sharing between the Commission and the company.

    The Emirati company already pumped over the past years investments worth $ 10 million at the stage of the search for gold in the region.

    Afandi said “Next week will be the signing of a protocol between the nuclear material and” the second Dubai “Mining UAE whereby the body geophysical studies and magnetic area franchise granted to the company, followed by geological assessments for gold exploration West Shalateen”.

    He explained that the nuclear material is is the only party in Egypt, which owns the aircraft conducting exploration and drilling for natural raw materials, although the cost of the process depends on space exploration and exploration which means unless determined yet.

    Egypt has 120 gold mine most famous and largest mine diabetes, a gold mine huge located in the Jebel diabetes located 30 km south of Marsa Alam Red Sea Governorate, a candidate because ranks among the 10 largest gold mines in the world and there is also a mine Hamesh and Dunjah Eastern Desert, according to the report of the Ministry of Petroleum and Mineral Resources of Egypt.

    The only Egypt’s production of gold on the production of mine “diabetes” only, and said the company “Centamin” Australian royal right franchise mine diabetes for gold production in Egypt since the week it will raise production at its factory by July to 325 thousand ounces compared to 250 thousand ounces currently, and with the start the fourth stage of the plant.

    The reserves of the mine is estimated at 15.5 million ounces gold, which makes it one of the largest gold mines in the world.

  • Gold rises after U.S. economic data

    Gold rises after U.S. economic data

    Gold rises after U.S. economic data

    Gold futures extended gains in morning trading the U.S. on Wednesday, rising to the highest levels of the session after data showed initial. The U.S. economy shrank unexpectedly in the three months to December

    investors awaited the Federal Reserve Board to develop a policy later in the day.

    On the Comex of the New York Mercantile Exchange, the futures trading of gold for April delivery is trading. At 681.05. 1 Dolare during morning trading surged. 1.1% from the previous day.

    Prices have risen. By up to 1.15% earlier in the session to reach its highest daily level of 681.85, 1 dollars per ounce., The strongest rate since January 24.

    Gold prices were likely to find. Support at 653.35. $ 1 per ounce., The lowest price since. January 28 and the near-term resistance. At 685.35, 1, dollars per ounce, the highest price since. January 24.

    Gold prices rose after data showed last week that the British economy shrank by 0.3% in the fourth quarter, and put Britain on track and fell recession triple …

    A separate report showed that the U.S. private sector jobs added 192,000 in January and exceeding expectations for an increase of 165,000.

    A separate report showed that the U.S. private sector added. 192,000 jobs in January and exceeding expectations for an increase of 165,000.

    Market participants awaited. Results of the meeting of the Federal Reserve Board policy. In later trading day. It was expected that the U.S. central bank reaffirmed its commitment. On easing program and the unemployment rate fell by. 6.5%.

    The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, rose 0.2% to trade at 79.44, the lowest level since Dec. 21.

    Dollar weakness usually benefit from gold, because it enhances the metal’s appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies.

    Elsewhere in the Comex rose .. silver for March delivery rose 2.2% to trade at .. $ 1.86 an ounce., While copper for March delivery rose 1.15%. To trade at .3.733 Dolar .

  • Gold unchanged at lowest price

    Gold unchanged at lowest price

    Gold unchanged at lowest price
    Gold unchanged at lowest price

    Were little changed on gold futures contracts near the low two weeks during the European morning hours on Monday, as investors were reluctant to buy a stake in the market amid expectations of weak technical.

    In Comex of New York Exchange, the futures trading of gold for April delivery is trading at 660.35, $ 1 per ounce during European morning trade, gaining 0.1% on the day.

    Prices traded in a tight range between 659.45, $ 1 per ounce, the lowest price for the day and the highest price for the session at 1, 663.65 dollars an ounce. Prices fell for two weeks from 655.15, $ 1 per ounce on 25 January.

    Gold prices were likely to find support in the near term at $ 1 647.05 per ounce, the lowest price since Jan. 8 and resistance at 685.35, 1, dollars an ounce, the highest price on January 24.

    Gold futures rose at 696.25, $ 1 per ounce on January 17, but lacked the momentum to rise.

    Gold fell 1.5% in the last week, the biggest weekly decline since late December, where strengthen demand for the precious metal as a safe haven amid fears decline of Appeal on the global economic outlook.

    Gold traders awaited a meeting of the policy-making by the Federal Reserve Board on Wednesday, to get additional hints about future monetary policy .

    Investors awaited preliminary data on Wednesday on economic growth data in the fourth quarter in the United States fourth quarter economic report U.S. non-farm payrolls on Friday, in an attempt to gauge the strength of the U.S. economic recovery.

    However, any improvement in the U.S. economy may reduce expectations for further action monetary easing from the Fed, and increase the U.S. dollar, which is heavier on commodity prices denominated.

    Gold futures fell to their lowest level in four months on January 4, after the minutes of the December meeting of the Fed that the central bank could end its quantitative easing program earlier than expected.

    Prices recovered recovered after Male Fed Chairman Ben Bernanke in a speech that he is satisfied with the progress of the U.S. economy did not refer to any reduction by the central bank to buy bonds.

    And investors look to the quantitative easing program by the Fed as a major source of major liquidity that would weaken the U.S. dollar helps commodity prices and support other fixed assets, including gold.

    Elsewhere in the Comex, silver for March delivery dropped 0.15% to trade at 31.16 dollars per ounce while copper fell for March delivery rose 0.1% to trade at 3.650 dollars per pound.

  • Indian government study imposing additional taxes on gold imports

    Indian government study imposing additional taxes on gold imports

    Indian government study imposing additional taxes on gold imports
    Indian government study imposing additional taxes on gold imports

    Called Indian Finance Minister on Wednesday to look for ways to reduce gold imports, which means that the authorities may levy a new tax on it, “It’s under study Government,” he said.

    The current account deficit in the budget has reached a record high of 5.4% of GDP during the second quarter of the current fiscal year in conjunction with the country’s vulnerability to further external shocks in conjunction with high gold imports which have become a large proportion of the movement of imports in general.

    The government had raised in the last year, customs duties on imports of gold nearly doubled, but in contrast, it led to increase smuggling operations.

    According to data from the Ministry of Finance, the total gold imports came in at 20.25 billion dollars of total imports worth 237.2 billion dollars in first half of the fiscal year.