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  • Reasons push gold to continue decline next period

    Reasons push gold to continue decline next period

    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.

  • Gold falls after strong jobs report in the United States

    Gold falls after strong jobs report in the United States

    Gold fell on Thursday after rising jobs in non-agricultural sectors in the United States in June, the highest than expected which is the brightest outlook for rising U.S. interest rates sooner than expected.

    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.

    Gold fell in the spot market was up 0.6 percent to 1319.35 dollars an ounce in late trading in the U.S. market after it had fallen earlier in the session about 1.3 percent to 1309.64 dollars, its lowest level in a week.

    The futures fell U.S. gold for August delivery, to $ 10.30 at the settlement of $ 1320.60 an ounce.

    Silver settled at 21.11 dollars an ounce.

    Platinum fell 0.5 percent to 1494.25 dollars an ounce.

    And palladium rose 0.4 percent to 856.13 dollars an ounce

  • Gold touches highest level in two months

    Gold touches highest level in two months

    Gold prices Settled on Monday near its highest level in two months because of the weakness of the dollar, and the expected gains for the second consecutive quarter with continued geopolitical tensions that have made the metal a safe haven.

    The price of gold settled in spot transactions at 1315.40 dollars an ounce, touching its highest level in two months, amounting to $ 1325.90 in the past week.

    Investors are awaiting this week’s U.S. jobs data and the meeting of the “European Central Bank” to find out the expectations of stimulus measures.

    The metal rose 2.4 percent in the second quarter of the year, after rising nearly seven percent in the previous quarter due to the violence in the Ukraine and Iraq.

    The price of silver fell 0.67 percent to 20.87 dollars per ounce. As platinum rose 0.16 percent, to 1474.5 dollars per ounce, while palladium rose 0.32 percent to 841.2 dollars per ounce.

    The dollar struggled to move away from its lowest level in a month against a basket of major currencies early on Monday, After scored the biggest weekly decline in more than two months because of a series of U.S. data disappointing.

  • Gold Price Today in Dubai Rise DH 5 Per Gram after weak U.S. economic data

    Gold Price Today in Dubai Rise DH 5 Per Gram after weak U.S. economic data

    UAE Gold Prices rose this week 5 AD with the high price of global gold after data came in economic growth in the United States weaker than expected, which hurt the dollar, but traders said the failure of the metal to continue the gains indicates that some investors reaping profits after prices hit the highest level in two months in the previous session.

    In Dubai the city of gold, Gold prices in the UAE for Gram 24-carat DH 156 , gram 22 carat DH 1478 , Gram- 21 carat DH 140 and settled gram 18 carat DH 120 .

    And increased the attractiveness of the precious metal as a safe investment risk after data showed that the U.S. economy shrank in the first quarter at a pace much faster than previous estimates.

    Gold rose about four percent in the past four sessions to its highest level in two months on Tuesday at 1325.90 dollars an ounce. The price of gold because of fears of escalation of the Iraq conflict and because of the absence of an explicit commitment from the Federal Reserve (the U.S. central bank) to raise interest rates.

    Gold rose in the spot market 0.2 percent to 1319.85 cricket world cup 2015 an ounce at 1901 GMT, while futures rose gold in the United States hand over August to $ 1.30 to $ 1322.60 an ounce at the settlement.

    Silver rose 0.4 percent to 20.95 dollars an ounce.

    Platinum rose 0.2 percent to 1466.25 dollars an ounce. As palladium rose 0.3 percent to 829 dollars per ounce

  • Gold falls from the highest level in two months, with the depletion of the actual purchase

    Gold falls from the highest level in two months, with the depletion of the actual purchase

    Gold fell during Asian trade on Wednesday, with the depletion of the actual purchase price after he jumped in the previous session to its highest level in two months, as silver fell from their highest level in three months.

    And pay double the stock markets on Tuesday, the yellow metal to its highest level since mid-April, but the climb was much lower gains on Thursday when he scored the biggest jump in nine months, with the reluctance of the U.S. central bank for the pledge to raise interest rates and because of the violence in the Middle East.

    The price of spot gold $ 6.24 to 1311.36 dollars an ounce by 0304 GMT, time after it was boarded during Tuesday’s session to 1325.90 dollars, its highest level since April 15. The price of the precious metal high about 9 percent from their levels at the beginning of the year.

    And U.S. futures fell to about $ 9 went to 1312.30 dollars an ounce.

    Among other precious metals silver fell – which often follow the lead of gold – to 20.68 dollars an ounce after it was jumped on Tuesday to 21.14 dollars, its highest level since March 18.

    The prices also fell after platinum and palladium that recorded modest gains in the previous session on continued concerns about supply

  • Dubai offers the most precious smile in the world made from gold and diamonds

    Dubai offers the most precious smile in the world made from gold and diamonds

    Dubai offers the most precious smile in the world made from gold and diamonds

    Recently introduced in t Dubai smile made ​​entirely of gold and diamonds, and is considered the most expensive in the world, is expected to register Her smile this new record in the Guinness “Guinness”.

    On this occasion, noted Dr Majd Naji, Director General of the Clinic Liberty Dental, which has manufactured the smile, “I’ve been getting a certificate purely diamonds and gold from the Institute of World Diamond in Belgium, was entirely manufactured in Dubai, where it was the use of 10 grams of pure gold 24 carat carats, also used 88 diamond size 1.3 and 68 diamond the size of 1.7 and four 2.8-sized diamonds, with a total weight of 2.5 carat diamonds, all of the round shape ”

    Added Dr. Naji glory “is expected to obtain a certificate of” Guinness “for the world’s most expensive smile, which will be presented this record for the Guinness” Guinness “for the title.

    On the most important reasons that prompted Liberty to provide that smile said Dr. Majd Naji “that after getting the people of the UAE for the title of the happiest people in the world, I thought the clinic to provide the most expensive smile in the world and decided to make a portion of the proceeds to charity, as a donation of $ 100 thousand AED The value of this in favor of a smile to charities that deal with the treatment of children. ”

    The cost of this smile 153 thousand U.S. dollars, and be installed and removed at any time you want it accompanied, they are placed as an ornament only during the events and images, and fit while eating or whatever.

    And do not need this smile more than two to be installed, where the measurements are taken is to explain to the patient about how to install and disassemble, which is easy, because it will not need a doctor to drill or refund the teeth, added Dr. he is now working on a smile again, goes part of the proceeds to one of the parties charity.

  • Gold rises support by Iraq disorders & Platinum retreat

    Gold rises support by Iraq disorders & Platinum retreat

    The price of gold rose on Monday, with U.S. stocks falling and the intensification of the crisis in Iraq, while platinum fell after it announced the union miners in South Africa, ending the strike lasted five months.

    And boosted gold gains, which amounted to three percent in the last week after he accused the Iranian leader Top United States on Sunday of trying to regain control of Iraq by exploiting sectarian rivalries with the progress towards Baghdad, Sunni insurgents from strongholds new along the Syrian border.

    Investors usually accepts gold as a hedge against risk in times of financial or political turmoil.

    Gold rose in the spot market 0.1 percent to 1315.60 dollars an ounce by 1900 GMT. The gold record biggest weekly gain in three months last week, up to its highest level in two months at 1321.90 dollars an ounce in the previous session.

    And increased gold futures in the United States of $ 1.8 to settle at 1318.40 dollars an ounce.

    The U.S. stocks fell slightly on Monday as investors did not find an excuse to continue buying after gains over six sessions for the S & P 500.

    Silver fell one cent to 20.86 dollars an ounce.

    Platinum lost 50 cents to U.S. $ 1453.25 an ounce, while palladium rose 0.4 percent to 820.25 dollars an ounce

  • Gold price logs biggest one-day rise in 9 months; tops $1,300

    Gold price logs biggest one-day rise in 9 months; tops $1,300

    Sydney: Gold celebrated its biggest one-day rise in nine months as markets wagered policies would stay super loose in the United States, Europe and Japan for a long time to come.

    Investors piled into bullion while selling U.S. government debt on the premise the Fed might be comfortable with higher inflation if it meant faster economic growth.

    Spot gold was enjoying the view at USD 1,314.56 an ounce having climbed 3.3 percent overnight in the sharpest gain since last September.

    Traders also said a major hedge fund had cut back a large short position in the precious metal which pushed prices above USD 1,300 an ounce and tripped a host of stop-loss buy orders.

    Equities were in ebullient mood with MSCI`s all-country world index, which includes about 85 percent of global investable equities, passing its previous all-time high set in November 2007.

    Japan`s Nikkei consolidated at five-month peaks, while the broader TOPIX brought its gains to more than 10 percent in just the past four weeks.

    MSCI`s broadest index of Asia-Pacific shares outside Japan was a fraction lower after rising 0.7 percent on Thursday. In Europe, the FTSEurofirst 300 index of regional shares had risen 0.6 percent to a six-year top.

    Wall Street was more circumspect, though data on jobless claims and regional U.S. manufacturing continued to show improvement. The Dow edged up 0.09 percent, while the S&P 500 gained 0.13 percent and the Nasdaq lost 0.08 percent.

    The revival in risk appetite follows Wednesday`s decision by the U.S. Federal Reserve to recommit to keeping rates near zero for some time to come.

    Crucially, Chair Janet Yellen sounded unconcerned by inflation despite a recent a pick-up in price pressure, surprising many who had thought the central bank would take a more hawkish turn.

    TAKING INFLATION PROTECTION

    “The dismissal of the recent upshift in inflation readings as `noise` was the biggest revelation,” said William O`Donnell, head of U.S. government bond strategy at RBS.

    “The Fed leadership is so unsure about the sustainability of the recovery that they are willing to wait for economic growth numbers and labour market indicators to beat them over the head before they consider removing emergency stimulus.”

    As a result the market has pushed out the day when the Fed might hike its funds rate, while also taking insurance against higher future inflation by buying gold and selling longer-dated Treasuries.

    Futures contracts that aim to map the course of the Fed funds rate again suggest no lift in rates until at least mid-2015. The June contract for next year now implies a rate of 31.5 basis points compared to 37.5 on Wednesday. Currently the funds rate is around 9 basis points.

    Investors are also demanding higher returns on long-term U.S. debt compensate for the risk of higher inflation, so steepening the yield cure.

    Yields on 30-year bonds swung up to 3.46 percent, from a low of 3.35 percent early in the week, while rates on 10-year paper reached 2.62 percent.

    In currency markets, the Norwegian crown stole the limelight by plunging over 2 percent after the country`s central bank hinted at the possibility of a cut in interest rates, stunning markets that had wagered the next move would be up.

    The dollar surged to 6.1178 crowns in its biggest one-day gain in more than a year, while yields on short-term Norwegian debt tumbled 20 basis points.

    Moves elsewhere were pedestrian in comparison, with the dollar steady on the yen at 101.90 while the euro edged up on the dollar to USD 1.3607.

    The dollar also lost ground against a basket of major currencies as the market pushed out the

    Brent was off 27 cents at USD 114.79 a barrel but that came after hitting a nine-month high above USD 115 on concerns heavy fighting in Iraq could limit oil supply from OPEC`s second-biggest producer.

    The U.S. crude oil futures contract for July added 21 cents to USD 106.64 a barrel.

    Reuters

  • Damas : Gold Buyers Switching from Bullion to Jewelry

    Damas : Gold Buyers Switching from Bullion to Jewelry

    Damas Gold and Jewellery group announced new growth in its total sales during the first five months of this year, up 16% compared with the corresponding period of last year.

    Group CEO «Damas», Anan Fakhr, said that «consumer trends in the purchase of gold changed during the recent period of investment in bullion, to the consumption pattern (buy jewelry), especially with the volatility present in the prices of bullion, boarding growing in real estate prices, which returned occupies the top of the safe investments

    On the sidelines of a press held by the company yesterday in Dubai, on the occasion of the opening of a new store in the area of ​​Palm Jumeirah, add that «the movement of gold sales as a good consumer of luxury and luxury, they have seen a significant decline during the period in 2009, and until 2011, due to the effects of the global financial crisis in the domestic market, prompting consumers to refrain from spending on consumer goods, while traffic increased investment in gold, especially bullion, but this began to change in early 2012, with the recovery real for the local market, and record economic growth a new and start the recovery of the sector Real Estate ».

    He pointed out that «during the third quarter of the year will see the entry second group factories of gold jewelry to the service in Dubai, while underway to double the production capacity of the current plant in Dubai, is expected by the end of 2015, to enter the third plant to service in the emirate, in line with Group’s expansion in the exhibited deployed globally ».

    He added that «expansions of the group include the opening of 28 new stores during the current year, about 50% of which are in the UAE, has been so far, including the opening of 12 branches, in addition to the three stores in the city of Jeddah, and two in Riyadh, Saudi Arabia».

    He stated that the «Group owns 302 shop and gallery around the world 0.161 of them in the UAE market, and the rest is distributed to the Gulf region, and some countries in the Middle East, and is currently being equipped for the presence in London and New York».

    He added that «the UAE market acquires shares ranged between 72 and 73% of total group sales», pointing out that «UAE nationals account for rates ranged between 55 and 56% of the sales of goods and luxury goods at shows and stores (Damas), while the remaining percentage is shared on the nationalities other

  • Forecast gold prices – gold pattern for the next thirty days

    Forecast gold prices – gold pattern for the next thirty days

    Gold continued to gain against the U.S. dollar during the session on Friday and closed the week at $ 1,276.68 an ounce, the highest level since May 28. Soft economic data from the United States and the high level of violence in Iraq has helped to achieve the Gold gains nearly 2% during the week. Retail sales during the past week and consumer confidence and PPI numbers were a source of concern somewhat for the people who were expecting stronger growth. Although the data that weaker-than-expected outlook suppressed a tougher stance by the Fed, I expect that the decision-makers will be cutting back from the asset purchase program again conservatives on the practice table. Chairman of the Fed, “Janet Ill” will hold a news conference after a meeting of the FOMC meeting held on 17 and 18 June, where will the Fed officials update their expectations for growth and unemployment and inflation.

    In the meantime, developments in Iraq will continue to influence the market. Geopolitical tensions usually have an impact on gold because of the ambiguity of shares to pay down in the global financial markets and raise buying gold safe. During the month of March, prices reached Alzh to $ 1,392.04 per ounce, due to rising tensions between Ukraine and Russia (and the sanctions announced by the United States and the European Union). With this into consideration, I believe that gold investors will be watching carefully the developments in Iraq to see whether things will worsen or subside. Recent media reports show that the militias, known as the ISIL, moving toward Baghdad after control of several cities in the state. But, at this point, invite investors to be cautious. At the outset it must be remembered that the price of gold dropped down to $ 1,240 after that settled the situation in Ukraine. This means that after the absence of the fear factor and improved equity markets, it is possible that the gold is sold quickly and bring him back to $ 1,213 an ounce.

    The other thing that should be attention to him is the range deliberative of the gold market over the past months. Gold prices sandwiched between $ 1,180 and $ 1,430 during roughly the past 13 months. Price pattern on the charts for gold indicated that sentiment has turned gold (compared to the past few years) and have become more regressive. Before breaking below the support level at $ 1532, which began operations after the sale of a large survey and investor confidence in gold, the market remained in a large area of ​​consolidation for about 80 a week. As a result, investors now want to see if gold can stick to the gains before they put the biggest bets.

    There ascending triangle forming on the weekly chart is believed that it will contain prices over the next several weeks. Of course, the fate of the gold will also depend on how the Federal Reserve Bank. In the event of the upward movement was able to hack through the $ 1,286 level would be technically possible to see continuity upward toward $ 1,297 and $ 1,312. Only hard hack above $ 1,312 is possible that the upward movement gives enough strength to challenge the obstacle $ 1,352. To the bottom, there is support at an average $ 1,260 and $ 1,248. Breaking below the support level at $ 1,240 will increase the downward pressure and sends the price to $ 1,227 and then to $ 1,213.

    Forecast gold prices - gold pattern for the next thirty days