Category: Gold news

Gold traded during the last week consistently and on a small scale, with some experts predicting low precious metal sharply to levels close to $ 1250, but the gold tried to prove near the levels of $ 1,300 per ounce, and especially with the decline of the dollar against other currencies and the absence of U.S. data, with the beginning of the last week, touching the level of $ 1307 and then returned to drop to the level of 1290 dollars to form a line as the lowest level of weekly supported

But during the next week, waiting for tomorrow, Monday, the issuance of the gold index in the United States, which is likely to decide its direction for the coming days and on Wednesday speech softens and the minutes of the meeting of the FOMC, which is likely to draw the price, and through Thursday will be issued Index Existing Home Sales, which is expected to be released in positive support for the greenback on Friday, the index also new home sales will be released green, making the expectations of experts, up until the last gold this week.

Gold prices dropped on Friday registered the second weekly decline in a row by sales raised sharp rise in the U.S. dollar and expectations of analysts that the Federal Reserve may begin to raise interest rates next year .

And also landed the platinum group metals after news that some of the mines in South Africa – the largest producers – began to resume work , which may indicate an early end to strike action .

And received support gold prices earlier when the growing political tensions dimensions traveled Russian President Vladimir Putin to the Crimea to attend the reviews in remembrance of the Soviet victory in World War II on his first visit to the peninsula since annexed by Moscow from Ukraine .

But the precious metal was pressured with continuing sharp decline of the euro from its highest level in two and half years against the dollar after President Mario Draghi noted the ECB on Thursday that the bank is ready to take additional measures to facilitate cash .

The price of gold for immediate sale 0.1 percent, to 1287.40 dollars an ounce in late New York trade , ending the week on a loss of 1 percent .

And U.S. futures fell 10 cents gold settled at a record 1287.60 dollars an ounce at the settlement .

Silver fell 0.3 percent to 19.11 dollars an ounce .

Platinum fell 0.6 percent to 1424.99 dollars an ounce , while palladium fell 0.3 percent to 796.60 dollars an ounce

Gold fell from $ 1,300 on Thursday after recording the biggest drop in three weeks , with little appeal as a safe haven by the signs of easing of tension in Ukraine .

Rose spot price of gold slightly to 1291.55 dollars per ounce, after losing 1.4 per cent on Wednesday , in the biggest drop for a single day since 15 April . The U.S. gold futures settled down after a similar decline last night .

And I got silver in online transactions 0.3 per cent to 19.24 dollars an ounce , while platinum rose 0.3 per cent to U.S. $ 1432.75 , and palladium rose 0.5 per cent to hit 799.75 dollars an ounce .

Most of the rise of gold seven per cent this year to geopolitical tensions over Ukraine . Gold is seen as an investment safe in times of economic uncertainty and political .

The analyst said the ” bank or . CNN . Me. C ” Barnabas committees that “the outlook for gold will adopt from now on developments in Ukraine ,” he said, adding : “We are still betting on the decline in gold prices, we expect that the total price $ 1150 at the end of the year not to burst the situation in Ukraine ” .

He called Russian President Vladimir Putin’s pro-Moscow separatists in Ukraine to postpone the referendum on secession by only five days of the vote , announcing the withdrawal of Russian troops from the Ukrainian border .

Gold gave up initial gains and fell about 1.5 percent on Wednesday as investors profit-taking after it urged Russian President Vladimir Putin separatists in Ukraine to postpone the referendum and announced the withdrawal of Russian troops from the border area between the two countries .

Putin called pro- Moscow separatists in eastern Ukraine to postpone the referendum on secession just five days before the due date for performing in a move likely to Ukraine away from the brink of disintegration. He also announced re Russian troops from the Ukrainian border .

But the White House said he did not see any signs that Putin withdraw his troops from the border with Ukraine and said he wanted to cancel the referendum on secession , not just postponed.

And exposure to the precious metal is also pressure from the comments of Janet Yellen head of the U.S. Federal Reserve confirms the belief that the U.S. central bank will end its program of asset purchases in the fall of this year as expected .

The price of gold fell for the cash sale of 1.4 percent, to 1288.36 dollars an ounce ounce ) by the time 1750 GMT, heading towards recording the biggest loss for one day in three weeks .

The futures contract dropped U.S. gold market in COMEX 19.90 dollars an ounce to U.S. $ 1288.70 .

Over the past three sessions, gold rose about 3.5 percent to 1314.70 dollars earlier on Wednesday on fears that a confrontation between pro-Russian separatists and government forces in Ukraine could immerse the country into war .

Among other precious metals followed the example of silver to gold fall 1.0 percent to 19.29 dollars an ounce , while platinum fell 1.5 percent to 1429.25 dollars an ounce and palladium fell 2.5 percent to 793.90 dollars an ounce

Gold fell on Thursday, a day after the announcement of the Federal Reserve ( the U.S. central bank ) cut in new stimulus measures and return it to emphasize the upbeat outlook for the U.S. economy despite a weak reading of growth in the first quarter of the year.

And a renewed exodus of funds for the enhanced index funds in gold , which refers to the continuing weakness of investor confidence in the metal.

The predictor of optimism about the safety of the U.S. economy that the Fed will continue to reduce the monetary easing measures , easing downward pressure on long term interest rates and reduce inflation fears .

At 0943 GMT, the spot price of gold 0.7 percent to 1283.20 dollars per ounce , while gold fell U.S. June delivery to $ 12.40 an ounce to U.S. $ 1283.50 .

Traders said the metal finds support at the moving average of a hundred days in 1282 dollars per ounce .

And I got silver in online transactions 0.1 percent to 19.05 dollars an ounce .

Platinum fell 0.4 percent to hit U.S. $ 1415.74 an ounce, while palladium fell 0.9 percent to 814.50 dollars an ounce .

Gold prices dropped and crude oil during the U.S. session after the superiority of data U.S. housing sector on the analysts’ expectations , on the cusp of the decisions of members of the Federal Open Market next Wednesday , which is expected to see from which to move the Fed forward in reducing the withdrawal of bond-buying program by 10 $ billion to the value of $ 45 billion during the month of May / May next year , which will weigh on the shoulders of metals prices and basic commodities due to the pricing currency Alawlh in the world according to the inverse relationship between them and the U.S. dollar.

It is worth mentioning that the developments and economic data Tbanha day Monday before the U.S. economy is the largest consumer of crude oil globally has supported more or less risk appetite among investors about the future of the recovery amid outweigh the existing home sales data during the March / March on analysts’ expectations with a rise of 3.4% compared to fell by 0.5% in the previous reading for the month of February , unlike the expectations that indicated a rise of 0.7% .

This reminds us of the fact that outweigh Data U.S. housing sector on the eve of the meeting of the FOMC ‘s will open on 28-29 April / May this has reduced the attractiveness of the yellow metal as a safe haven and alternative investment amid the worsening crisis File Ukraine , where he is expected to meet 28 representatives from the states EU to decide on the imposition of new economic sanctions on Russian officials because of the support and overlook the Russian Federation ‘s largest crude oil producer globally on the activities of the separatists in the east of the former Soviet state of Ukraine.

And accordingly has seen crude oil prices declined to currently trade at $ 100.54 a barrel , posting its lowest level during the day at $ 100.42 per barrel compared with the opening level at $ 100.79 a barrel and a female interrogator its highest level during the day at $ 101.50 a barrel , and that at 11 : 22 am New York time .

On the other hand showed the U.S. Dollar Index , which tracks the performance of the first currency in the world against a basket of major currencies including the euro, which weighs more than half of the index in addition to the Swiss franc , Japanese yen , pound sterling and all Menen Canadian dollar and the Australian stable at levels of the opening , currently trading at levels of 79.74 , its highest level during the day at 79.84 and achieving its lowest level during the day at 79.55 .

But looking at the price of gold fell to trade at $ 1,294.61 an ounce , posting its lowest level during the day at $ 1,292.01 per ounce, compared with the opening level at $ 1,304.10 per ounce and a female interrogator its highest level during the day at $ 1,306.47 an ounce.

Also suffered silver prices track gold downward somewhat to trade at $ 19.54 an ounce , posting its lowest level during the day at $ 19.49 per ounce, compared with the opening level at $ 19.72 per ounce and a female interrogator its highest level during the day at $ 19.76 an ounce.

The price of gold fell on Monday due to better-than -expected home sales in the United States to come down from the level of $ 1,300 an ounce .

And contributed to the confrontation between Russia and the West over Ukraine in the recovery of gold from its lowest level in two and a half to $ 1268.24 hit on Thursday. The price of the precious metal to 1306.11 dollars in early trading on Monday but failed to cohesion at this level .

The price of spot gold 0.7 percent to 1293.36 dollars an ounce by 1426 GMT time while down the price of the metal in the U.S. futures contracts for June delivery to $ 7.20 to $ 1293.60 an ounce .

Pushing strong economic data on gold because it supports Outlook constantly Federal Reserve ( the U.S. central bank ) to reduce the extraordinary stimulus measures also enhance the value of the dollar.

Silver fell 0.7 percent to $ 19.50 an ounce .

Platinum fell 0.2 percent to 1412.24 dollars an ounce and palladium 0.7 percent to 800.47 dollars an ounce .

The inn platinum and palladium due to the outbreak of violence on Sunday in South Africa’s platinum belt attested workers’ strike

The price of gold rose slightly on Friday after the lowest levels in two and half months in the previous session , after the impact of violence in the Ukraine on the stock markets and the dollar, but optimism about the U.S. economic growth limit gains.

Ukrainian troops killed five militants towards pro- Moscow on Thursday with a narrow grip on the military stronghold of the separatists in the country’s east and Russia began military exercises near the border in response , which raised fears of invasion troops to Ukraine .

The price of spot gold 0.3 percent to 1298 dollars per ounce at 1051 GMT . Gold was the lowest level in two and a half to $ 1268.24 on Thursday, with the rise of the stock and weak technical factors .

The price of gold in U.S. futures contracts for June delivery 0.5 percent, to 1297.6 dollars per ounce .

The dollar fell 0.1 percent against a basket of currencies while European stocks fell due to tension in Ukraine .

Investors are awaiting currently meeting of the Open Market Committee of the Federal Reserve ( the U.S. central bank ) next week regarding interest rates.

Silver fell in online transactions 0.2 percent to 19.55 dollars an ounce .

And platinum rose 0.4 percent to 1402.25 dollars an ounce , while palladium rose 1.6 percent to 797.50 dollars an ounce

Gold remains defensive amid expectations that the Fed will continue with its taper campaign next week and what seems to be a complete dismissal of the rising geopolitical tensions in Ukraine. Currency markets have been pretty well contained recently, providing little in the way of fresh directional clues for the yellow metal.

Jon Hilsenrath of The Wall Street Journal expects that the FOMC will hold steady on policy after their two-day meeting next week, scaling back asset purchases to $45 bln per month. As for an eventual rate hike, Hilsenrath believes the Fed will remain purposefully vague.

Of growing concern for the Fed has to be the housing market. New home sales plunged 14.5% in March to 384k, missing expectations of 450k homes by a wide margin. Analysts continue to blame the weather, but the Northeast — one of the hardest-hit regions as far as weather goes — actually saw new home sales rise by 12.5%. The more likely culprits are sluggish jobs growth, declining affordability, and rising mortgage rates.

Existing home sales in March, reported yesterday, fell for a third consecutive month. It was the seventh monthly decline out of the last eight and the lowest print since July of 2012.

In gradually tightening policy via the taper, the Fed risks completely derailing the already tepid housing recovery. If home values rotate lower once again, it could threaten to derail the broader economic recovery as well.

In an article yesterday, The Wall Street Journal called the recovery “one of the most lackluster in modern times.” Said “recovery” is also now approaching the mean duration of post-WWII recoveries. We risk falling into the next recession, before the country has fully recovered from the last one.

If that were to happen, arguably all bets would be off with the Fed. They would likely flood the market with dollars yet again, and ramp the QE back up in an effort to underpin asset prices and the economy.

And speaking of cycles: It would seem that the corrective pullback in the gold market is very long in the tooth as well.

The World Gold Council studied the twelve gold price pullbacks of 20% or more, going back to 1970. The average length of those corrections was 18 months. The most recent correction lasted 28-months, assuming that it ended in December 2013. The average rebound after these corrective periods has been 69%.

I encourage you to read our latest Review & Outlook entitled Pullbacks-retracements study points to solid gold buying opportunity to get our own Michael Kosares’ take on the topic, which is summed up in this quote:

Gold prices rebounded from the lowest level in two weeks and a half Tuesday , but the sentiment among investors is still fragile due to exit funds backed by gold .

Tensions have been unsuccessful in Ukraine in strengthening the lure of gold as a safe haven highlights the weak sentiment in the market .

By the time 0703 GMT , ascended spot price of gold 0.1% to 1291.40 dollars an ounce after falling earlier 0.3% . In the previous session, gold fell to 1281.40 dollars, the lowest since the third of April.

Silver fell 0.1% to 19.37 dollars an ounce . Platinum rose 1.2 % to hit U.S. $ 1409.9 and palladium rose 0.6% to 781.38 dollars an ounce .

In previous dealings , gold fell to its lowest level in nearly three weeks of his large -scale displacement of the largest fund of funds indicators reinforced metal in the world and the lack of further escalation of tension in Ukraine in connection with a so-called sell-off .