Category: Gold news

Gold jumps above 1670 dollars an ounce, supported by hopes of monetary stimulus in the U.S.

Gold jumps above 1670 dollars an ounce

Gold climbed above the level of 1670 dollars per ounce on Thursday, its highest level in almost four months, supported by hopes of a new round of monetary stimulus in the U.S. and news that Spain was negotiating the terms of a potential financial aid package.

Silver jumped more than 2 percent and Platinum Group also stepped up on concerns about supplies because of labor unrest in South Africa.

And precious metals received a boost after sources told Reuters that Spain was in talks with the euro area on the conditions of international assistance despite the fact that Madrid have not yet taken a final decision on the request for financial assistance.

The price of gold for immediate transactions of more than 1 percent during the session to $ 1672.70 per ounce, its highest level since early May, before easing slightly to $ 1670.30 in late trading in New York.

And gains the yellow metal reached 3.5 percent since the beginning of the week and is moving towards recording the largest monthly increase since record a gain of 11 percent in January.

And U.S. futures rose gold for December delivery about 2 percent to a record settlement at $ 1672.80 an ounce.

The price of silver for immediate transactions 2.2 percent, to 30.49 dollars an ounce.

Platinum rose 0.4 percent to $ 1536.75 an ounce, while palladium jumped 3.5 percent to $ 650.75 an ounce

Reuters

August 24, 2012
Rise in gold prices after the increase of investors in gold bullion

with the increasing volume of the investors property of gold bullion to a record for fear of slowing economic growth and after the two Billionaires John Paulson and George Soros bought more gold, rose gold traders speculating on gold during the last six weeks.

In a poll conducted by Bloomberg News, and published the Middle East predicted 14 of the 26 analysts higher prices next week, while the predicted six of them falling prices, while six others, they were neutral, making rate speculation on higher prices highest since July 6.

The Paulson increase its stake in SPDR Gold Trust, the largest producer trader in the stock market powered gold, 26 per cent in the second quarter, and the Soros increase volume his possessions of gold has more than doubled, according to records revealed the Securities and Exchange on 14August.

The euro zone shrank in the second quarter after the worsening debt crisis led to the entry of at least six countries in a state of recession, as revealed EU data released on August 14.

And increased purchases of bullion and gold coins by 15 per cent in Europe in that period, according to the World Gold Council said yesterday.

And slowed growth in the United States during a period of three months until last June, and may extend slowing economic growth in China to the seventh quarter after the cessation of export growth in July, as disappointing industrial production and lending economists’ expectations.

August 23, 2012
Gold sales rate in eastern region reach to 50 million SR during the Eid al-Fitr

Gold market in the eastern region has been very active during the day of Eid al-Fitr and the previous days for it, accompanied by a rise in the movement of gold sales amounted to 70%, according to investors in the sector who said that higher sales latest active movement within the sector have brought gold sales volume in the Eastern Province during the holiday period toSR 50 million.

They explained that the reason for the popularity is due to the desire of citizens to buy gold on the occasion of Eid al-Fitr as well as the majority of social events coincided with this time of year.

Ali Dajani “vendor in the gold shop” There tangible difference between the movement of sales holiday period last year for this year from the same period as there is a rise of 15% in the movement of gold sales during the current year, and the price of gold remained volatile margins simple during the month Ramadan and grams of gold worth in this period, ranging between 195 and 215 riyals.

On the other hand asserts member of the Committee of gold jewelry Chamber East Jawad Arbash that there huge demand for gold shops during the holiday period and the last days of the month of Ramadan, which in turn impacted heavily on the Activity Movement sales to rise as the gold sales volume in the eastern region during the Eid al-Fitr and up to 50 million riyals and by Movement sales activity in the gold sector.

Arbash explained that the gold shops in the eastern region exceeded the 1000 shop, helping to raise the total value of net gold sales volume coupled delighted by in this period by the citizens and that are associated with the majority of events and social functions.

The businessman said Abdul Ghani Al-Muhanna said the large number of social events and solutions the occasion of Eid al-Fitr of the most important factors that led to the movement of gold sales activity in the eastern region, which witnessed the gold market during the last days of the holy month of Ramadan and the days of Eid al-Fitr.

August 22, 2012
Gold rises 1% to its highest level in three months

The price of gold rose to its highest level since May on Tuesday on speculation that the European Central Bank will intervene to help Spain and Italy, while platinum also recorded its highest level in three and a half months after that sparked violence in South Africa mine concerns about supplies.

And the price of the yellow metal 1.2 percent, its biggest daily gain in nearly a month and extending its rally for the fifth consecutive session after reports that the European Central Bank will lower borrowing costs for Spain and Italy.

And won gold with technical support as skip moving average in 100 days. But analysts said that moving average in 200 days may be the next resistance level. The increased demand for gold also after U.S. stocks rose to their highest level in four years during trading on Tuesday.

The record gold in the spot market in the session high at $ 1641.20 an ounce, its highest level since the seventh of May. By the time of 1822 GMT, gold reached $ 1638.83, up 1.2 percent from the previous session.

And recorded Gold futures U.S. December delivery $ 1642.90 an ounce at the settlement high 19.90 dollars.

And silver rose 2.2 percent to 29.41 dollars an ounce. And recorded earlier in the session the highest level since early June at 29.51 dollars.

The platinum touched its highest level since early May at $ 1508.25 an ounce and then trimmed gains of up to $ 1501.90, up 1.1 percent from the previous session.

Platinum was more precious metals up in the past seven sessions, rising more than $ 120 an ounce on a weekly basis on Tuesday after the deaths of more than 40 people following the outbreak of violence in a mine operated by Lonmin is the third largest producer of platinum in the world.

And palladium rose 2.8 percent to $ 620.40 an ounce. Earlier in the session log metal, its highest level since late June when 626 dollars.

NEW YORK (Reuters)

August 22, 2012
Global demand for gold down 7 percent in the second quarter of 2012

The Volume of global demand for gold 990 tonnes in the second quarter of 2012, recording a decrease of 7 percent compared to what it was in the second quarter of $ million and about 66 tons.

World Gold Council in its report on gold demand trends this decline in the rate of demand in part to a comparison with the rates of demand exceptional last year.

The council said the decline reflects the difficulties experienced by the climate of the global economy and the performance of gold did not come out from the expectations as he continued his mission as a hedge and a source of liquidity.

Remained in demand for gold has been relatively stable at 2.51 billion U.S. dollars, compared to what it was, where was 6.51 billion U.S. dollars in the second quarter of 2011 .. The average gold price of $ 49.1609 an ounce, registering an increase of seven percent from the average price in the second quarter of 2011.

The report confirms that the sovereign debt crisis continued in the euro zone boosted the confidence of European investors in the importance of acquiring savings gold where demand rate on bullion and gold coins by retail investors an increase of 15 percent on an annual basis for up to 6.77 tons, increased by more than 19 percent of quarterly average over five years, which is 2.65 tons.

The rate request formal sector for gold in the quarter amounted to an unprecedented rise 5.157 tons, more than twice the rate recorded in the second quarter of 2011 represented 16 percent of total global demand. Has reinforced a number of central banks holdings of gold during this period, including the National Bank of Kazakhstan and the central banks in the Philippines, Russia and Ukraine.

The report notes that despite the economic difficulties remained ETFs relatively flexible, recorded net outflows amounted to 0.8 tons on an annual basis.

The average price of gold to 1 610 U.S. dollars an ounce, recording a rise of seven percent compared to the average price recorded in the second quarter of 2011.

The volume of demand for gold jewelery sector 3.418 tons, recording a decline of 15 percent compared to 6.490 tonnes in the second quarter of 2011 with the exception of India and China, where the rate of demand for gold jewelry decline of 4 percent.

Decline in demand for investment in gold by about 23 percent on an annual basis for up to 0.302 tons, down slightly from the average quarterly over five years, which is 3.340 tonnes, with the exception of India and China, where the rate rose retail investment by about 16 percent on an annual basis compared to Tons.

And settled the demand for ETFs and similar banking products in the second quarter of 2012 significantly quarterly level, where more than a slight edge on the sales rate new demand.

From : WAM

August 21, 2012
World’s richest speculating on gold and prices rising

With the increase in the size of their property investors of gold bullion to a record for fear of slowing economic growth and after 2 Billionaires John Paulson and George Soros bought more gold, rose gold traders speculating on gold during the recent weeks Alstth.

In a poll conducted by Bloomberg News, and published by the Middle East predicted 14 of the 26 analysts higher prices next week, while the predicted six of them falling prices, while six others, they were neutral, making rate speculation on higher prices highest since July 6.

The Paulson increase its stake in SP-R Gold Trust, the largest producer trader in the stock market supported gold, 26 per cent in the second quarter, and the Soros increase the size of his property of gold has more than doubled, according to records revealed the Securities and Exchange on 14 August.

The euro zone shrank in the second quarter after the worsening debt crisis led to the entry of at least six countries in a state of recession, as data revealed the European Union issued on Aug. 14.
And increased purchases of bullion and gold coins by 15 per cent in Europe in that period, according to the World Gold Council said yesterday.

And slowed growth in the United States during the three months to June this year, and may extend slowing economic growth in China to the seventh quarter after the cessation of export growth last July, as disappointing industrial production and lending economists’ expectations.

The speculation led to higher precious metal; where the price of gold rose 3.3 percent to 1.618 dollars per ounce in the Commodity Exchange in New York this year, achieving 11% annual profit streak.

This comes compared to a profit of 3.5 per cent in the index GSM CIA issued by Standard & Poor’s for twenty-four commodity, and an increase of 8.6 per cent in the Morgan Stanley index of all the countries in the world for stocks. And achieved a return on Treasury bonds accounted for 1.1 per cent, according to the index showed Bank of America.

Statistics indicate the U.S. to a significant increase in demand for bullion and gold coins European to 77.6 metric tons in the fourth quarter, and should increase the demand for jewelry in Asia during the second half as a result of a link this season purchases marriages and festivals, as stated Gold Council, which the London-based her.

The investors bought gold worth an estimated 1.1 billion dollars through the products are traded in the stock market this month, and possessed a record number of gold worth 2.417.3 tons on August 10, according to the data showed.

Import volume fell gold in India, the largest buyer of gold in the world over the past year, 56 per cent of a year earlier, up to 131 tonnes in the second quarter, according to Gold Council said.

August 21, 2012
15% sales growth in the gold shops thanks to holiday season

As much as gold traders in Doha rate of increase in the demand for buying gold by about 15% during the days of Eid al-Fitr, despite higher prices.

They said the «Arabs» The market is witnessing a boom during this period every year, starting since the last days of the holy month of Ramadan and ends at the end of the feast days, for arguing that the first days of the holy month stagnated somewhat in sales.

They added that the recovery of demand for the yellow metal during the Eid al-Fitr every year and during the other seasons such as Eid al-Adha and the National Day and New Year’s and other various events, where accepted customers to buy gifts gold for submission to relatives, sons as well as to increase wedding season in this period.

The presentations and Nakecat and the availability of new forms of jewelery major factor in the increase in demand for buying gold during the days of Eid, where racing gold shops in the presentation of the best Nakecat and shapes.

Did not constitute a slight increase witnessed in gold prices this week, offering to customers who want to buy gifts for their loved ones.

The price of gold gram 24 carat to 189.27 riyals yesterday, up from 187.71 riyals a week ago, also increased the price of one gram 22 carat gold to $ 173.5 riyals, up from 171.97 riyals 7 days ago.

The price of a gram of 21-carat carat 165.62 riyals, up from 164.29 riyals, plus the cost of workmanship which is estimated to be between 20 and 30 riyals for jewelry importer, and 10 to 15 riyals for the locally manufactured.

The price of one gram 18 carat gold reached 141.96, up from 140.88 Real Real, and supplemented the cost of workmanship that up to 40 riyals, while the value of gold bullion rounds at 24 189.236 thousand riyals per kilogram per gram, up from 185.952 thousand riyals a week ago.

He attributed the rise in the prices of specialists gold to quantitative stimulus in the U.S. economy, which directly affects the price of gold globally and locally.

August 21, 2012
Decline in demand for gold in Indian market

The newspaper “Indian Express”, on Friday, that demand for gold in Indian market has witnessed decline by 38.4%, to $ 181.3 tones in the period from April to June of 2012, compared to 294.5 tonnes same period of last year.

Pointing out that the decline in gold imports will pressure on the current account deficit, especially since gold is second largest producer is imported from abroad after crude oil.

The newspaper reported that the production of Indian jewelery declined by 30%, to $ 124.8 tons noting that global demand for gold fell to 990 tons 7%, according to latest report of World Gold Council.

She added, that this decline reflects the challenges of global economic conditions, where gold is a store of value and a source of financial liquidity, stressing that significant decrease was the result of exploitation Indian investors twice value rupiah currency.

August 18, 2012
Global demand for gold at its lowest level in two years in the second quarter

World Gold Council said on Thursday that demand for the precious metal fell to its lowest level in two years during the second quarter, in conjunction with the decline in demand for dark blue and invest in India and China.

Where record global demand decreased by 7% or 76 tons compared with last year down to 990 metric tons in the three months ending at the end of June.

This is the lowest level since the first three months of 2010, according to the report, as it fell on jewelry consumption by about 72.3 metric tons to 418.3 tons, and the decline for Investment 88.3 tons to 302 metric tons.

In spite of the apparent decline but the World Gold Council is still expected demand growth during the full year, but this in turn will depend on the recovery of Indian demand, and the policy of central banks towards the precious metal.

Chinese demand for gold was reduced by 7% during the first half of the year to 144.9 tonnes, which was attributed to the World Gold Council there is no clear direction for the movement of prices.

The Director noted in the World Gold Council “Marcos pod” that this is the quarter “passive” first “we have in China a long time ago, but it is probably linked to issues of economic deeper into China itself, not the gold market itself.

With respect to the United States fell purchases jewelry and investment assets of precious metal 17% to 34.2 tonnes, while the European Union, such as a bright spot and a clear increase demand by 11% to 86.4 metric tons.

The return of the Europeans buy precious metal as a reaction to the deepening sovereign debt crisis in conjunction with its negative impact on the single currency, which fell by about 5% against the dollar this year.

The official purchases of gold for States rose more than doubled to reach 157.5 tonnes in the fourth quarter, as announced Kazakhstan, Russia, Turkey, Ukraine and the lifting of central banks reserves.

While the purchases of those central banks 254 tons in the first half, up from 200 last year, which prompted the World Gold Council to sign a record of them this year than last year, which was the highest since 1964.

August 16, 2012
Is gold become a Means of better safety ?

Gold prices are currently driven by several factors: central banks interventions. Political interference and the statements of responsible and irresponsible,speculative and Pressure on prices from governments or banks or investment funds. Paper gold market size exceeds 100 times the actual physical gold market. This helps to influence the course of prices and channel it.

Now! Why gold is about to dash bullish?

After rises in August of 2011 the market saw a correction and a clear and real phase followed by immunization horizontal. At this stage, the world has seen bad economic news only. Europe in the vortex is sufficient to disturb the atmosphere in general and healing all the way to the recovery period will develop.

Britain in a miserable course, but put a percentage of the distinctive European situation in terms of its ability to print money without restrictions it is still apparently has the best reputation.

The same image can be monitored in the United States. Quantitative easing is expected not only the printing of the currency. Economic figures are uncomfortable, but the Americans are benefiting so far only focus on the markets of Europe. Situation will not continue on this case.

Japan sits on a mountain of debt and demand for the yen just a phenomenon does not know Those who know are not they change. We believe the time is not far away. Economy will not survive a long.

The solution is to print the currency in each place. Salvation will not come this way. Governments think it’s the best way to please the voters. Governments come and promises a few months after moving protests against it. May be times been free market economy is behind us.

This year saw and will see the big race historically to print money. Race between the central banks from every direction. This will enhance the development of inflation and we will be before the outbreak of the disease in the body of the patient. Bonds, stocks, currencies, commodities bubble will be in front of the whole terrible. Only gold will be in the royal seat. Watching and smiling than he bargained for. It will be the provider of the Investment Center to protect the best.

And finally? Must know that gold has increased since 1999 rose 615 percent this correction, which we talked about, which amounted to 8% priced in dollars so far is very limited long-term outlook. In most other currencies, the correction did not exceed 3.0%.

Ongoing immunization we believe it to end soon. The driving force behind the next may be so great that exceeded the $ 2000 will make 3500 a target of the next. Maybe $ 5,000, too. Maybe in 12 to 18 or 24 months only.

From this perspective, an additional corrective decline will not be meaningful that is measured, including waiting for the yellow metal.

August 11, 2012