Category: Gold news

Gold fell to its lowest level in two and a half weeks in the volatile transactions and gaunt , Monday , died from severe displacement of the largest fund of funds indicators reinforced metal in the world and the rise of the dollar .

And negatively affected by the metal heart sale to technical factors after it failed to hold above $ 1,300 an ounce ( an ounce ) , who scored earlier in the trading session .

The decline in the spot price of gold to the lowest price in two and a half week at 1281.40 dollars then pared losses to 0.6 percent to hit 1286.30 dollars by the time 0641 GMT .

Said Victor Thianberrya analyst ” meager market today and limited liquidity . ”

The markets closed in Australia , Hong Kong and London on the occasion of the Easter holiday .

Said Thianberrya “What spooked people is declining fund holdings indicators about ten tons last week . ”

The Fund saw Gold Trust AG . Th . De largest fund indices enhanced gold in the world – which is a good indicator of investor confidence – the displacement of 9.3 tons last week .

The dollar index today and the rise of the currency leads to raising the cost of dollar-denominated metal for holders of other currencies.

Silver fell 1.4 percent to 19.31 dollars an ounce .

Platinum rose 0.2 percent to record 1407.1 dollars, while palladium fell 0.4 percent to 790.5 dollars per ounce .

Gold fell to its lowest level in nearly three weeks on Monday, influenced by a large 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 .

And palladium lost more than two percent , extending a decline after the agreed major manufacturers of the metal in South Africa last week to increase the wages of miners in an effort to end the strike and widespread workers .

Silver fell more than one percent decline also affected other precious metals .

The decline in the spot price of gold up 0.4 percent to 1288.72 dollars an ounce at 1917 GMT, after falling earlier to $ 1281.40 to the lowest since the second of April.

The contract fell U.S. gold futures for June delivery $ 5.40 an ounce to settle at 1288.50 dollars.

The markets were closed in Australia , Hong Kong and London on Monday to mark the Feast of the Resurrection.

Analysts said what spooked people is the decline in the holdings of index funds last week .

The Fund saw Gold Trust AG . Th . De largest fund indices enhanced gold in the world – which is a good indicator of investor confidence – the displacement of 9.3 tons last week .

Silver fell 1.2 percent to 19.36 dollars an ounce .

Platinum was down 0.8 percent to hit U.S. $ 1393.30 while palladium fell 2.1 percent to 777.55 dollars an ounce

Gold prices ended the U.S. day session lower and near the daily low Thursday. The bearish technical posture that has gripped the gold market this week is presently trumping potential safe-haven buying on the Russia-Ukraine crisis. June gold was last down $8.40 at $1,295.10 an ounce. Spot gold was last quoted down $7.10 at $1,295.50. May Comex silver last traded down $0.039 at $19.595 an ounce.

The Russia-Ukraine tensions were ratcheted up a notch this week, but the gold market surprisingly sold off. However, it’s still my bias that any further escalation in the crisis will see increased demand for safe-haven assets, including gold. A foreign ministers meeting including officials from the U.S., Russia, Ukraine and the European Union got under way in Geneva, Switzerland Thursday to try to de-escalate the situation. The U.S. is leading an effort to slap further economic and diplomatic sanctions on Russia. As the three-day Easter holiday weekend approaches, it was a bit surprising to this analyst to see a lack of risk aversion in the market place Thursday. The Russia-Ukraine crisis could escalate into an international crisis in a hurry.

U.S. economic data released Thursday included the weekly jobless claims report and the Philadelphia Fed business survey. Neither of those reports did much to move the gold market.

Technically, June gold futures prices closed nearer the session low. Near-term chart damage has been inflicted this week and the bears have the near-term technical advantage. The gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at this week’s high of $1,331.40. Bears’ next near-term downside breakout price objective is closing prices below solid technical support at the April low of $1,277.40. First resistance is seen at $1,300.00 and then at $1,307.10. First support is seen at Thursday’s low of $1,292.80 and then at this week’s low of $1,284.40. Wyckoff’s Market Rating: 4.0

May silver futures prices closed near mid-range Thursdsay. The bears have the solid overall near-term technical advantage. Silver bulls’ next upside price breakout objective is closing prices above solid technical resistance at the April high of $20.40 an ounce. The next downside price breakout objective for the bears is closing prices below solid technical support at $19.00. First resistance is seen at $19.805 and then at $20.00. Next support is seen at $19.325 and then at this week’s low of $19.22. Wyckoff’s Market Rating: 2.0.

May N.Y. copper closed up 245 points at 305.00 cents Thursday. Prices closed nearer the session high on short covering. Bears have the overall near-term technical advantage. Copper bulls’ next upside breakout objective is pushing and closing prices above solid technical resistance at the April high of 308.00 cents. The next downside price breakout objective for the bears is closing prices below solid technical support at this week’s low of 296.55 cents. First resistance is seen at this week’s high of 306.20 cents and then at 308.00 cents. First support is seen at Thursday’s low of 302.25 cents and then at 300.00 cents. Wyckoff’s Market Rating: 4.0.

Gold fell for a second session in three sessions on Thursday due to high equity exposure and enhanced largest gold fund , the world’s largest sell-off in about four months .

Gold fell nearly two percent on Tuesday to its lowest level in a week and a half of his operations selling for technical reasons and fears of slowing demand in China, the largest consumer of the metal in the world but has settled above $ 1,300 for an ounce in the previous session .

By 0710 GMT, the spot price of gold down 0.3 percent to 1298.56 dollars an ounce . And silver fell 0.2 percent .

A analysts said . Said . ZTE in a note , ” we do not have a strong vision for the direction of gold in the near term , but the track is likely to decline and technical factors predict greater losses.

“It is likely that the renewed demand for gold as a safe haven in the short term ( because of Ukraine .) But the market remains volatile and is likely to be no rush to take profits . ”

And obtain a high stock prices of gold , which is generally regarded as an alternative investment . The Asian stock markets rose on Thursday after comments flowing in the direction of monetary easing from the President of the Federal Reserve ( the U.S. central bank ) , which lifted Wall Street for a third straight session .

But the most important factor is the sharp decline in the holdings of gold enhanced index funds , which tend to keep pace with the confidence of investors .

The fund ‘s holdings have fallen Gold Trust AG . Th . De 8.39 tonnes to 798.43 tonnes on Wednesday , the biggest exodus since December 23 and after gains over the previous two sessions .

The price of silver was down 0.2 percent to 19.57 dollars an ounce .

Platinum rose 0.2 percent to record 1435.4 dollars, while palladium fell 0.1 percent to 797.3 dollars per ounce

Gold prices were little changed on Wednesday, as gains were limited by rising Wall Street stocks and strong U.S. industrial production data fed investor caution about bullion a day after prices fell nearly 2 percent.

Gold traded around its key 200-day moving average support near $1,300 an ounce after a U.S. government report showed industrial production rose faster than expected in March.

Still, other U.S. data showed the housing market still dragging the U.S. economy. Groundbreaking for new homes increased in March, but remained well below the post-recession peak hit in November.

Any safe-haven bid for gold was muted by the absence of new violence reported between Ukraine government forces and pro-Russian separatists in Eastern Ukraine, traders said.

Analysts said bullish U.S. economic data has prompted speculators to sharply trim bearish bets, but gold remains vulnerable should investors close out more long positions.

“There is room for specs to cut back further, and with increasingly limited liquidity ahead of the holidays, it wouldn’t take as much to get prices moving south,” said UBS precious metals strategist Edel Tully.

The U.S. gold market will be shut on Friday for the Good Friday holiday.

Spot gold inched up 42 cents to $1,302.46 an ounce by 3 p.m. EDT (1900 GMT), following Tuesday’s 1.8 percent drop on heavy technical selling after prices fell below the 200-day moving average.

U.S. COMEX gold futures for June delivery settled up $3.20 an ounce at $1,303.50, with trading volume about 35 percent below its 30-day average, preliminary Reuters data showed.

The yellow metal largely ignored signs that U.S. economic activity picked up in recent weeks as a weather-related drag lifted, according to the Federal Reserve’s Beige Book report of anecdotal information on nationwide business activity.

After reaching a peak of $1,330 an ounce on Monday, gold was hit by a wave of selling as worries over economic growth and demand from top consumer China pushed it through a series of key chart levels.

U.S. equities rose for a third straight session after China reported economic growth a touch above forecasts, a relief for stock market investors fearful of a much weaker outcome.

On the investment side, holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.60 tonne to 806.82 tonnes on Tuesday, in the second straight day of inflows after three weeks of outflows.

Among other precious metals, silver edged up 0.2 percent to $19.61 an ounce, having hit a 2-1/2-month low at $19.24 an ounce in the previous session.

Platinum climbed 0.1 percent to $1,435.80 an ounce, while palladium rose 1 percent to $799.25 an ounce.

Report said That Chinese companies may have held up to a thousand tons of gold in financing deals , pointing out that a large segment of imports used to raise funds because of tight credit , not to meet the demand of consumers.

The lead buy yellow for the purposes of financing in the largest consuming country in the world to him being pressured if imports have shrunk due to large-scale campaign against the exploitation of primary commodities in funding.

The report, issued by the World Gold Council said on Tuesday that gold is not used to raise funds on a large scale , as is the case for copper prices , which fell to its lowest level in three and a half years in March because of fears of a collapse of these deals . Other sources confirmed that in China .

The report said ” exploits in gold loans and letters of credit enhanced with gold to obtain low-cost financing for investment and speculation . ”

“The exploitation of gold in the activities of a purely financial forms of demand constitutes a small percentage of the growth of the broader activities of borrowing through informal channels . Might be the size of that activity thousand tons at the end of 2013. ”

This figure is equivalent to one-third of global production per year at current prices is estimated at 43 billion dollars

Gold prices fell on Wednesday, with stocks rising on Wall Street amid strong data for U.S. industrial production fueled feelings of caution among investors regarding the precious metal, a day after falling nearly two percent.

And was dealing in gold soon moving average of 200 days in which about 1,300 dollars an ounce after a U.S. government report showed that industrial production rose at a pace greater than expected in March.

Purchases of gold eased by seeking safe haven in the absence of new outbreaks of violence between government forces and Ukrainian pro-Russian separatists in eastern Ukraine .

In Spot price of gold down 0.2 percent to 1299.59 dollars an ounce by 1600 GMT, after falling 1.8 percent on Tuesday .

And increased U.S. gold futures for June delivery $ 1.10 an ounce to U.S. $ 1301.10 .

Silver and settled in online transactions without change to 19.57 dollars an ounce and had fallen to its lowest level in two and a half at 19.27 dollars on Tuesday .

Platinum fell 40 cents to hit U.S. $ 1434.50 an ounce and palladium rose 1.1 percent to 800.60 dollars.

Gold rose to the highest level in three weeks as tension escalated in Ukraine, boosting demand for a haven. Palladium rallied for a fifth day to the highest price in 32 months as platinum and silver climbed.

Bullion for immediate delivery added as much as 0.8 percent to $1,328.88 an ounce, the highest price since March 24, and was at $1,328.41 at 10:29 a.m. in Singapore, according to Bloomberg generic pricing. The metal last week posted a second weekly climb as the Standard & Poor’s 500 Index capped its biggest weekly loss since 2012.

Gold rallied 11 percent in 2014, rebounding from the biggest annual drop since 1981, as unrest increased in Ukraine and data showed an uneven global recovery. The United Nations Security Council held an emergency meeting after Ukrainian security forces clashed with pro-Russian gunmen in the east. Russia was sending subversive groups into the country, Ukraine Ambassador Yuriy Sergeyev told the gathering in New York.

Investors are “concerned that Russia may add a little bit more to its territory or is in the process of attempting to,” said David Lennox, a resource analyst at Fat Prophets in Sydney. “That’s the driving factor.”

Palladium for immediate delivery climbed as much as 1.3 percent to $815.10 an ounce, the highest price since August 2011, and was at $814.53. Prices rose 14 percent this year as the threat of disruption to Russian exports compounded supply concern spurred by a strike by miners in South Africa under way since January. The nations are the world’s biggest producers.

Ukraine Crisis

In the latest worsening of the crisis, Ukrainian and U.S. officials accused Russia of being behind the violence, raising the potential for additional sanctions. Last month, the U.S. and EU responded to Russia’s annexation of Crimea by blacklisting Russian officials, businessmen and a bank.

Gold for June delivery added as much as 0.8 percent to $1,329.20 an ounce on the Comex in New York, the highest for a most-active contract since March 24. In the week ended April 8, money managers cut their net-long position to 98,492 futures and options, a seven-week low and the third consecutive decline, U.S. Commodity Futures Trading Commission data show.

The rise in bullion triggered advances in related equities. Newcrest Mining (NCM) Ltd., Australia’s biggest gold producer, climbed 0.8 percent to A$10.825 in Sydney, taking this year’s rise to 39 percent. Zhaojin Mining Industry Co., China’s second-biggest gold miner, added 1.8 percent to HK$5.04 in Hong Kong, extending this year’s increase to 14 percent.

Platinum advanced as much as 0.7 percent to $1,467.88 an ounce, the highest level since March 18, and was at $1,467.13. Silver increased 0.5 percent to $20.0981 an ounce.

Gold prices are struggling to provide test amid U.S. dollar a slight correction after sharp declines recorded in previous sessions this week . Resulting tendency caution that emerged in the minutes of the meeting of the Federal Reserve for the month of March , which was issued on Thursday to a decline in currency reserves , the latter heading toward recording its biggest weekly decline since October 2013 .

To the test while the U.S. dollar following the wave of the landing , it is likely that Twaslasar Alzhbndalha . U.S. economic data cast a disappointing weigh on the currency in recent times , and therefore that any reading below expectations of consumer confidence from the University of Michigan will entrench the emergence of downside moves to green . It should also be noted that in the event resulted in a wave of risk aversion to the recent deterioration in investor confidence , the dollar will advance thanks to increasing safe-haven demand . This scenario leaves the prices of gold and silver at a critical detail in the next session .

Technical Analysis of Gold – Gold turns the direction of the near -term bullish , according to the trading price shown above the arithmetic average of twenty day and direction indicator Altghebr rate to zero level . In this regard , he gave a morning star pattern formed on the daily chart close to the key support at $ 1,277 based on the light bounce gold prices. In the context of the positive technical signals for the item, will enhance the penetration level of $ 1,320 up opportunities for entering long positions with the concentration of the next resistance at a price of $ 1,351 .