Category: Gold news

Decreased consumption of gold in China increased by almost 20% during the first half of the current year ending march consumption growth recorded by the gold in the last year.

According to the Federation of Chinese Gold, said in a statement on Thursday, the Chinese consumed during the first half of this year, 569.45 tons of gold, where gold jewelery consumption rose at rates of 11%, while the decline in the consumption of bullion rose 62% during the first half of this year.

The statement added that gold production in the country during the first half of this year amounted to 211 tons, an increase of 9% from the same period last year.

It was China’s consumption of gold has increased last year by 41.36% to 1176.4 tonnes thanks to growing demand for gold jewelry and bullion .. During the second quarter of last year dropped the price of the World Gold to about $ 1,400 per ounce compared to $ 1,600 by the fall, which encouraged the Chinese to buy heavily.

Gold fell to its lowest level in a month on Thursday, extending a decline in early trade to less than $ 1,300 for an ounce in light of strong data from the United States, China and the euro zone, which made investors reluctant to buy assets that constitute a safe haven.

The price of gold in the spot market nearly one percent to 1290.40 dollars an ounce, its lowest level since 19 June fell 0.8 percent to 1292.80 dollars by the time 1425 GMT.

The futures fell for gold in the U.S. market of $ 12.40 to 1292.30 dollars an ounce after the sell orders to reduce losses without $ 1300, which led to more selling.

The dollar rose 0.1 percent against a basket of major currencies, erasing early losses after data showed a decline in the number of Americans filing new claims for unemployment benefits exchange to its lowest level in eight and a half years.

And exposure to the precious yellow metal is also under pressure from the rise in equity markets after signs of improved economic conditions in Europe and China.

And silver fell in spot transactions two percent to 20.47 dollars an ounce.

Platinum fell 1.2 percent to 1461.20 dollars an ounce.

Palladium fell 0.3 percent to $ 866 an ounce

Gold prices fell during trading on Wednesday from its lowest level of $ 1308.00 down to low levels 1304.32 an ounce, while the opening came at levels of $ 1307.01 an ounce.

Technical Analysis:

Note the return of gold higher levels of moving average 50 and 200 days, as well as to return the highest levels of psychological support in 1300 dollars per ounce, as well as to overcome the resistance levels for the line downward trend, in conjunction with the positive Stochastic, on the other hand has the form of gold significant resistance at levels of 1344.00 dollars.

Positive scenario:

The power of gold in the highest levels of stability resistance of $ 1300 an ounce, gold will equip access to the resistance levels of $ 1344 an ounce, it is worth mentioning that the recovery of gold unconditional resistance levels to exceed 1323 dollars per ounce.

Negative scenario:

On the negative side, the return of gold down the resistance levels important $ 1,300 an ounce, gold will be forced to reach the levels of 1278 dollars per ounce.

Gold prices settled above $ 1,300 an ounce on Monday on expectations the escalation of geopolitical risks, after the United States called for Russia to respond to questions about the downing of a passenger in the Malaysian eastern Ukraine.

Spot gold has never seen little change at 1311 dollars per ounce (SEC), after it fell 0.5 percent on Friday.

And trading volumes were weak, as the Japanese market is closed for a holiday.

The precious metal rose 1.4 percent on Thursday after news of the downing of a passenger Malaysian, but investors were quick to take profits in the next day, which led to the decline in gold two percent during the week to score the first weekly loss in seven weeks.

Said a trader in Singapore that “despite the decline in the previous session, there is enough demand for the metal safe haven, what will keep prices above $ 1,300.”

Silver rose 0.19 percent to 20.87 dollars an ounce.

And platinum rose 0.35 percent to 1486.99 dollars, and palladium rose 0.14 percent to 877.6 dollars per ounce.

Gold fell during trading on Tuesday, with the level of $ 1,300 for an ounce to its lowest level in four weeks, with the rise of the U.S. currency and the concentration of investors in precious metals on the report of the monetary policy of the Federal Reserve showed that the U.S. central bank is preparing to end his stimulus for the purchase of bonds by October first.

The price of gold fell Spot 0.7 percent, to 1295.60 dollars an ounce by 1638 GMT, time after scoring earlier in the session to $ 1291.70, its lowest level since June 19.

The accelerated loss of the precious metal when prices fell from $ 1,300 level for the first time in about a month with the rise of the dollar index.

Gold continued to decline after falling 2.3 percent on Monday, the biggest drop for a single day since December, after the payment of receding worries about the banking sector in Portugal investors to profit-taking.

The contract fell U.S. gold futures for August delivery up 10.0 dollars to 1296.70 dollars an ounce.

The gold record three consecutive weeks of gains to reach its highest level in almost four months at 1345 dollars on the tenth of July, with increased purchases due to the problems of the banking sector in the countries of the southern euro zone, which prompted investors to buy assets that are seen as investment vehicles safer .

Among other precious metals platinum fell 0.4 percent to 1479.00 dollars an ounce, while palladium fell 0.3 percent to 863.95 dollars an ounce.

Silver fell 0.3 percent to 20.81 dollars an ounce

Gold fell on Monday, with the rise of the dollar on speculation about interest rate hikes in the U.S. sooner than expected in the wake of strong statements about the functions which end of the investment demand for the precious metal.

Gold suffers from pressure since data showed on Thursday, U.S. job growth in June and the unemployment rate falling to its lowest level in nearly six years in a directory on the growth of a strong economy.

These data prompted investors to believe that the Federal Reserve (the U.S. central bank) will raise interest rates sooner than expected by mid-2015 even though most economists say there is still a need for more data.

And raising interest rates will encourage investors to withdraw funds from assets that are not interest-bearing, such as gold.

Gold fell in the spot market 0.4 percent to 1315.60 dollars an ounce by 1219 GMT, time slipped while gold futures in the United States August delivery 0.3 percent to 1316.60 dollars an ounce.

The dollar rose for a fifth day in a row, is trading near its highest level in nearly two weeks against a basket of currencies and has received support from the steady climb to U.S. Treasury yields since strong statements about jobs in the United States last week.

Silver fell 0.8 percent to 20.97 dollars an ounce.

And platinum rose 0.7 percent to 1499.25 dollars an ounce. As palladium rose 0.5 percent to 865.75 dollars an ounce, its highest level in 13 years due to strong demand from the automotive industry

After the positive correction for gold in last Friday, fell on the yellow metal and strongly to touch the level of 1312.50 dollars per ounce, and this after the dollar was U.S. control of the trading against the major currencies and markets return to normalcy after the reduction of tensions security which prevailed Iraq and the region Middle East.

During the evening, the experts expect to continue falling precious metal because of the return of capital markets investors, as well as on Wednesday, waiting for the Federal Gold’s remarks, which could make investors expect continuation of falling gold Ttiyal week and his performance as the negative expectations.

No sooner had changed the price of gold in early trade in Asia on Friday after falling the previous session is likely to witness a further decline as the strong data from the U.S. jobs and rising stocks to record highs on Wall Street are all weakened the appeal of the precious metal as a safe haven.

Jumped job growth in the United States in June and the unemployment rate fell to its lowest level in nearly six years, which provides strong evidence that the world’s largest economy is growing actively with the beginning of the second half of the year.

The U.S. Labor Department said on Thursday the jobs in non-agricultural sectors increased 288 thousand jobs and the unemployment rate fell to 6.1 percent.

The price of gold is stable in the spot market little changed at 1319.44 dollars per ounce, after falling in the previous session more than one per cent to 1309.64 dollars, its lowest level in a week before recovering slightly to close down 0.6 per cent.

The futures fell U.S. gold for August delivery was 0.01 per cent to 1320.5 dollars per ounce.

Silver settled at 21.08 dollars an ounce. Platinum fell 0.2 percent to 1491.00 dollars an ounce.

Palladium was down 0.15 percent to 853.63 dollars an ounce.