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Gold fails to extend gains; weekly loss mount to Rs 350

New Delhi: Both the precious metals, gold and silver ended lower in the bullion market during the past week on sluggish demand at prevailing higher levels despite firm global trend.

Traders said investors shifted their funds from bullion to rising equity markets which kept the metals under pressure.

The domestic markets, which normally take cues from the internatonal trend, remained jittery and failed to recover. Gold in overseas maekts rose 1.8 percent to 1,489.20 dollar an ounce and silver by 2.1 percent to 24.28 dollar an ounce.

In the national capital, gold of 99.9 and 99.5 pecent purity commenced higher at Rs 28,200 and Rs 28,000 per ten grams on fresh buying. Later, it met with stockists selling on back of sluggish demand at prevailing higher levels and settled to Rs 27,750 and Rs 27,550 per ten grams respectively, showing a loss of Rs 350 each from previous week’s level.

Sovereign followed suit and declined by Rs 200 to Rs 24,000 per piece of eight gram.

On the other hand, silver ready lost Rs 900 at Rs 46,000 per kg this week on reduced offtake by industrial units while weekly-based delivery managed to close higher by Rs 160 to Rs 45,160 per kg on speculators support.

Silver coins dropped by Rs 2,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces on fall in demand at existing higher levels.

May 5, 2013
Advantages of Online Gold Trading | Gold Trading

Business these days, and also other people use the Internet extensively to do business, it is easy to do business transactions can also do it from home when you use the Internet. Another advantage you will not take Otelmus of the money in order to do business online. Therefore, the online gold trading of the easiest ways for electronic trading if you want to get a quick profit, plus you will be able to do business without use PHYSICAL money and will be able to do your job from home.

There are also many advantages in the gold trade through the Internet and one of the main advantages is the stability of the price of gold, unlike the prevalence of gold prices, which fluctuate from time to time. Therefore, it is best to have financial security when trading gold rather than other commodities such as “FX”.

Another advantage is that gold prices will not fall never down, In the case of landing will rise again in a short time difference better than dropped in the past, and this is the main reason for the rise in gold prices during the past few decades, and therefore, when trading gold via Internet chance of loss may be few. However, you should focus on your own gold transactions, given that the main reason there is not enough gold to meet global demand, and the income of people keep on increasing the price of gold, as he lies to rise only.

Online trading in gold can be a 24-hour of the day, too, if you carry your computer and login to the Internet through it, you can play with your work from anywhere. This is a great feature where you can in gold prices fluctuate every hour.

When you consider all these advantages it is a good idea to engage in online gold trading. If you kept yourself to know the affairs of the world you can achieve a successful business.
Internet will provide you with the information crisis of the factors that could affect the price of gold. And your broker will give you the tools that allows you expect price fluctuations.

May 5, 2013
Again .. Conspiracy to destroy the gold market!!!

Varied views on the cause of the sharp decline in the gold market over the past week, said Bill Downey site owner Gold-Trends and student markets for gold and silver, it’s interesting to decrease the price of gold, it might not be directly linked to the bank the Federal Reserve despite the fact that there are some For its part, collusion, but he was basically linked to the decline in the actual stock of gold in the stores “Comex” and “JP Morgan” and possibly others to the level of possible harm holders of short-term trades.

Downey says that the controllers of the market needed to create the plan, which would lead to the collapse market .. Vtkon are the beginning of the early leaks and misinformation with considerations for the possibility to change the policy of the reserves level.

The story behind the collapse of the markets that Cyprus is planning to sell her gold reserves and which was possible to be just misinformed when he said central bankers of Cyprus that this matter was not discussed at all, and was the final blow to the market selling huge in the futures market, where he spoke report on sale singles for 400 tons, and thus have succeeded in the heart of the market conditions and then finally closed the actual system and prevent buy gold and at the same time, the actual forcing traders to sell futures contracts to cover themselves.

And this is exactly what happened from the complete closure of the computer on Friday afternoon and prevented the actual exchange of gold.

One would think that the closure of computers at a critical time was probably a coincidence, but the same thing happened in the last time it was lower the price of gold which in December 2011, but that this issue was suspicious, as the proportion of low gold price recently parallel with the proportion of decrease the price of gold for the year 2011 and this convergence in ratios that can not be ignored.

There may be some comfort to those who kept their holdings of gold or they are buying from the DIP as after the collapse in Desimbr 2011 gold rose $ 270 during the next two months due to lack of minerals.

It seems that this time the size of the purchase when the price is low tremendous and this is likely to exacerbate “any shortfall” in precious metals and so on, may not be absurd to expect a greater degree of rebound this time.
It is believed Downey that there are two things that can lead to lower gold price, the first event building on manipulation such as we have seen, and the second a lack of liquidity as we saw in 2008, where the urgent need for cash, which was forced to liquidate all assets .. asked Downey about the possibility of occurrence of this again and the answer is yes, but this time on a global scale will be much stronger than the Lehman crisis in 2008.

This is only a brief summary of the thesis Downey and despite the fact that this is just a theory, but fit well with what happened.

Other analysts, such as Doug Casey, for example, does not support the theory of public manipulation, but it is believed that the full range of events that occurred during the past two weeks, he could have the same effect

May 5, 2013
How to determine the value of your gold

Many people have gold jewelry holds great sentimental value, and others have gold jewelry does not have a special meaning to them. And others have gone carries both values.

If you want to sell your jewelry, it is important that you have a strong idea of its value before going to the dealer, The price of gold rose dramatically during the past years, if you are thinking of selling some of your jewelry, there are some tips that you should know, it is through learn how merchant calculates the value of your jewelry, you can be sure you will get a fair price.

Carat knowledge

The first step is to identify the various types of Carat Bmjohratk, there are small numbers represent carat value often be engraved in jewelry. Such as 10K, 14K, 18K or 24K, to read them you will need to use a magnifying glass.

Note: Carat is the unit used in determining the amount of gold. However, the Carat unit is also measure the weight of gemstones.

If the golden piece made before 1980, it may be the actual gold content much lower than indicated.

Note: separating units carat gold, also separating any jewelry containing precious stones, you will need to remove the stones before going to the dealer, if you can not easily remove the stones, the merchant will be able to help you.

If there are no numbers on the piece, it may be gold-plated, gold-plated pieces to has a thin of gold coated on a metal basis. Usually this is done through a process known as electroplating.

Price

You can repeat to know the price of gold through the Internet, it is easy and simple process to determine the current price of gold. Gold prices will be listed for ounces, the equals 31.1 grams, and a gram is a unit of measure commonly used in weight of gold, Department of the current gold price by 31.1 to determine the price per gram.

Note: It is important to remember that the price of gold can be changed in the morning and afternoon of the same day.

Determining gold value

You will need to weigh your jewelry to see how many grams you have. If you have a large amount of jewelry, perhaps you might want to buy Jewelry Scale, or you can use a food scale if it displays the weight in grams.

Each group: divide by 24 carat, and then double that number at the current market price of gold.

These tips will give you an accurate idea of the value of your jewelry. When dealing with wanting to buy gold, you can expect to get between 50% and 60% of the calculated value.

May 5, 2013
Gold prices fall in time for the wedding season

Dubai: It is likely that the resulting decrease in the price of gold in the spot market on Thursday to raise the wave of purchasing other private buyers from India and the Gulf region.

Gold fell to its lowest level in nearly a week on Thursday, dropping 2.93 $ price ounce to $ 1,453.81.

Said Pradeep Unni, senior manager in the company traded commodities in Dubai (Richcomm Global Services) “The decline benefit domestic demand, there is a demand for gold bullion because we see value trailing added to the core value,” which has to be paid by retailers to ensure that they have enough of stock listed daily.

With wedding season approaching, will use the Buyers from India and the Gulf this opportunity to buy gold bullion and gold ore blocks, according to UNI.

In India, traditionally wear gold and give as gifts at weddings. The purchase increases during Hindu festivals, such as Guru Pushya Nakshatra, which falls this year, Diwali in October and November.

At the same time, some retailers say that a small decline in prices will not increase the demand for the precious metal, but will remain stable.

Said Chairman of the Board of Management (Pure Gold Jewellers) “The decline is very small and not make any difference in the percentage of buy more. And that our work is still strong. “

May 5, 2013
Gold regains Rs 84 price in the futures trading

New Delhi: Gold prices rebounded after yesterday’s losses, and increased the price of gold in futures trading by 84 rupees on Saturday, where speculators expanded their domain on the back of renewed actual purchasing operations in the spot market.

And rose gold for June delivery on Multi Commodity Exchange (MCX), by 84 to Rs 26 909 per ten grams.

In New York, has been trading in gold futures contract for the month of June, down $ 3.40, or 0.20%, to settle at 1,464.20 an ounce on the Comex division on the New York Mercantile Exchange in New York. Said the latest official figures released on Friday, the low rate of unemployment in America to the lowest level in four years by 7.5%, as the economy added 165,000 jobs in April.

The resulting decline in interest rates by the European Central Bank and the U.S. Federal Reserve’s decision to hold on to the program to increase effective demand side, to support the gold where it was last week, closing up 0.7%.

European Central Bank cut its benchmark interest rate by 25 points to a low level by 0.50% on Thursday, after the decline of inflation more than the expected target of the bank, and weak economic studies increased doubts about a recovery. Gold prices have dropped to about 1,321 on April 16, the lowest level since 3 contract, through the sale of capacitor which surprised investors gold.

May 5, 2013
Gold’s failure to achieve gains in India and a weekly loss of up to Rs 350

NEW DELHI: Close both gold and silver on the decline in the bullion market during the past week due to declining demand by a large margin despite the stability of the global trend.

Traders said that investors have shifted their money out of the bullion market to higher stock markets, causing increased pressure on precious metals.

The local market continued to suffer from severe confusion and failed to recover, and the price of gold rose in overseas markets rose 1.8% to $ 1,489.20 an ounce and silver by 2.1% to $ 24.28 an ounce.

In the capital, the price of gold, which began the purity ratio of 99.9 to 99.5 at a higher price by Rs 28,200 and Rs 28,000 per 10 grams in the immediate purchase. Later, met with the selling price in the stores because of the decline in demand until it settled at 27,750 and Rs 27,550 per 10 grams, indicating a loss of Rs 350 for both of them about the level of last week.

The pound of gold declined by Rs 200 to Rs 24,000 per 8 grams.

On the other hand, silver lost Rs 900 to $ 46,000 per kilogram, while enabling the delivery of weekly closing up by 160 rupees for up to 45 160 rupees per kilogram supported by speculators.

And silver coins fell by Rs 2000 to up to Rs 76,000 for buying and Rs 76,000 in sales for every 100 pieces due to lack of demand.

May 4, 2013
Gold may come under selling pressure

Abu Dhabi: Gold may come under fresh selling pressure in the week ahead on continued off-loading by Exchange Traded Funds (ETFs) and institutional investors, but, demand from retail investors could put a floor on the prices, experts say.

“The ETF outflows, which are reportedly large and significant so far this year, may not be all what they seem to be. There has been a major change in the pricing structure for gold holdings in unallocated accounts in Switzerland. It has been reported that some Swiss banks have made it more expensive for their customers to hold metal in unallocated accounts than in allocated accounts. The reason for that might be that the banks will have a much higher capital requirement for gold held in unallocated accounts, as they are an on-balance sheet item for the bank,” said Gerhard Schubert, Head of Commodities Wealth Management at Emirates NBD in his latest research note.

He said despite some conflicting data, the trend seems to be of a growing and stronger recovery in the US.

“This will not be positive for the outlook for gold, unless there are inflationary tendencies visible, and we might be years away from that scenario. The current price levels are comfortable, but it seems that our customers are looking to liquidate, at least some of their holdings,” he added.

On Friday, gold prices ended the week trading at $1,464.20 a troy ounce.

Pradeep Unni, Senior Relationship Manager at Dubai-based Richcomm Global Services DMCC said “gold imports by India, the world’s largest consumer, are poised to fall after the central bank restricted overseas purchases by banks to reduce domestic demand and curb a record current-account deficit.”

Banks will be allowed to import bullion on a consignment basis to meet only genuine needs of exporters of gold jewellery, the Reserve Bank of India said in its annual monetary statement.

May 2, 2013
Gold slips to near one-week low

Gold held near its weakest level in almost a week on Thursday, after declines in holdings of exchange-traded funds, equities and other commodities overshadowed the US Federal Reserve’s decision to maintain its loose monetary policy.

Although the Fed’s money-printing to buy assets could stoke inflation, gold has been overwhelmed by fears of sales by central banks and daily outflows on global bullion ETFs, sending holdings to their lowest since their lowest since September 2009.

Gold fell $2.93 an ounce to $1,453.81 by 0348 GMT, having shed more than 1 per cent in the previous session — its biggest daily drop since bullion’s historic decline in mid-April. It hit a low of $1,439.74 on Wednesday, the weakest since April 25.

Prices dropped $225 an ounce between April 12 and 16 on fears of a withdrawal of the Fed’s monetary stimulus and after the European Central Bank and the International Monetary Fund asked Cyprus to sell reserves as part of a bailout deal.

Gold slips to near one-week low

ETFs holdings lowest since September 2009

Reuters
Published: 14:42 May 2, 2013
Gulf News

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Singapore: Gold held near its weakest level in almost a week on Thursday, after declines in holdings of exchange-traded funds, equities and other commodities overshadowed the US Federal Reserve’s decision to maintain its loose monetary policy.

Although the Fed’s money-printing to buy assets could stoke inflation, gold has been overwhelmed by fears of sales by central banks and daily outflows on global bullion ETFs, sending holdings to their lowest since their lowest since September 2009.

Gold fell $2.93 an ounce to $1,453.81 by 0348 GMT, having shed more than 1 per cent in the previous session — its biggest daily drop since bullion’s historic decline in mid-April. It hit a low of $1,439.74 on Wednesday, the weakest since April 25.

Prices dropped $225 an ounce between April 12 and 16 on fears of a withdrawal of the Fed’s monetary stimulus and after the European Central Bank and the International Monetary Fund asked Cyprus to sell reserves as part of a bailout deal.

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“People are more wary as gold has been trading within the same trading band. Moreover, Europe has agreed on a loan deal for Cyprus, and one of the terms state that assets in gold might be sold,” said Brian Lan, managing director of GoldSilver Central Pte Ltd in Singapore.

“But this is unlikely to be sold on the open market. I believe another central bank will be buying it. China’s physical demand is still strong. This morning they are most probably keeping a lookout to see where the market is going before purchasing.”

U.S. gold for June delivery stood at $1,453.40 an ounce, up $7.20.

In its statement following a two-day meeting, the Fed reiterated it would continue to buy $85 billion worth of bonds each month to support a moderately expanding economy that still has too high an unemployment rate.

But instead of rallying on the news, gold tracked other markets lower on renewed worries over the Chinese and U.S. economies after the latest economic data from both countries raised doubts about the strength of the global economy.

China’s factory-sector growth eased in April as new export orders fell for the first time this year, a private survey showed on Thursday, suggesting the euro zone recession and sluggish U.S. demand may be risks to China’s economic recovery.

Investors turn their attention to the closely watched non-farm payrolls report on Friday, which will signal the longer-term prospects for the Fed’s monetary stimulus.

The U.S. economy is likely to have added 145,000 jobs. March’s number fell far short of expectations at 88,000, triggering a sell-off in riskier assets.

Physical market

Physical market activity slowed after a recent surge in the purchase of gold bars, coins and nuggets across Asia sent premiums for gold bars to multi-year highs.

Dealers expected second-largest consumer China to look for bargains as markets resumed trading after a three-day holiday, but the physical market in Hong Kong was easier than a week ago, as new supplies arrived.

“Supply is a bit better, because demand has also slowed down a little bit. Premiums for gold bars are still steady at $3 an ounce,” said a dealer in Hong Kong, which is China’s main source for gold imports.

Gold’s historic sell-off last month has widened a disconnect between funds that sold on dissatisfaction over bullion’s underperformance and individual investors who could not get enough physical gold coins and bars at bargain prices.

In other markets, growing doubts over the health of global economies pushed Asian shares lower on Thursday, adding to investor caution before a European Central Bank meeting that could see interest rates cut to support growth.

May 2, 2013
Decline in interest rates encourage investors to buy assets such as precious metal

Gold prices rose on Thursday after the European Central Bank decided to cut its key interest rate by 25 basis points, hitting a record low at 0.50 percent.

Usually pour low interest rates in the interest of gold, as it encourages investors to buy assets that are not tied to interest rates, such as the precious metal.

Gold rose to the highest level during the session at $ 1461.65 per ounce after the rate decision and a record $ 1458.71 an ounce by the time of 1211 GMT, up 0.1 percent.

Gold fell one percent in the previous session – the biggest daily loss since the historic decline in the mid / April – to $ 1439.74 at the lowest price since April 25.

And U.S. futures rose gold for delivery in June 0.8 percent to $ 1457.20 an ounce.

Among other precious metals silver price rose 1.1 percent to $ 23.83 an ounce.

Platinum rose 0.7 percent to $ 1480.76, while palladium fell 0.2 percent to $ 684.22 an ounce, after reaching its highest level in two weeks at $ 700.72 on Tuesday.

May 2, 2013