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Gold rate in Delhi today

New Delhi: Gold prices on Monday rose by Rs 300 to trade at Rs 27,400 per ten grams here on increased demand amid firming global trends.

Silver also snapped its six-day falling trend and recovered by Rs 500 to Rs 45,800 per kg on increased offtake by industrial units and coin makers.

Sentiment bolstered as stockists and retailers purchased gold at existing lower levels due to the prevailing marriage season, after the recent steep fall.

Firming trend at the futures market, as speculators indulged in covering their short position in the recent bear phase, was another reason behind the upsurge.

Here are the closing rates of gold and silver in Delhi bullion market:

(Gold per 10 grams/ Silver per Kg)

Gold 24 carat (99.9): Rs 27,400; Change: + Rs 300

Gold 24 carat (99.5): Rs 27,200; Change: + RS 300

Gold Sovereign (per piece of 8 grams): Rs 24,100; Change: + Rs 100

Silver ready: Rs 45,800; Change: – Rs 500

Silver weekly-based delivery: Rs 43,670; Change: + Rs 370

Silver coins/ per 100 pieces (Buying): Rs 76,000; Change: + Rs 1,000

Silver coins/ per 100 pieces (Selling): Rs 77,000; Change: + Rs 1,000

April 22, 2013
Gold Rate and silver In India Today

Gold Rate :Tracking continuous recovery in international markets, coupled with brisk physical buying at prevailing low levels, gold prices on Monday spurted by Rs 300 to trade at Rs 27,400 per ten grams in Delhi bullion market.

Gold in overseas markets, which normally set price trend on the domestic front, climbed 1.90 percent or USD 26.70 to USD 1,433.20 per ounce.

At the Multi Commodity Exchange (MCX), the most-active delivery in June contracts traded Rs 421 higher at Rs 26,468 per 10 gm.

Similarly, silver for delivery in May spurted by Rs 482 to Rs 43,905 per 10 gm.

Silver in Delhi bullion market also snapped its six-day falling trend and recovered by Rs 500 to Rs 45,800 per kg on increased offtake by industrial units and coin makers.

Chennai

Standard gold price rose by Rs 405 to Rs 26,960 per ten grams as against its previous close of Rs 26,555 in Chennai bullion market. Silver also climbed by Rs 300 to Rs 44,850 from Rs 44,550 per kg.

Mumbai

Standard gold of 99.5 percent purity and pure gold of 99.9 percent purity both finished up by Rs 440 and Rs 445 at Rs 26,700 and Rs 26,840 per 10 gm, respectively.

Silver ready (.999 fineness) rose by Rs 515 to end at Rs 45,180 per kg from Saturday’s closing level of Rs 45,665.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity shot up by Rs 300 each to Rs 27,400 and Rs 27,200 per ten grams, respectively. Before the current Rs 750 gain in the last two days, gold had tumbled Rs 3,250 in last week.

Sovereign moved up by Rs 100 to Rs 24,100 per piece of eight gram.

Silver ready recovered by Rs 500 to Rs 45,800 per kg and weekly-based delivery by Rs 370 to Rs 43,670 per kg. The white metal had lost Rs 7,300 in the previous six sessions.

Silver coins also spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

Futures trade (MCX)

At the Multi Commodity Exchange (MCX), the most-active delivery in June contracts traded Rs 421 higher at Rs 26,468 per 10 gm.

Similarly, silver for delivery in May spurted by Rs 482 to Rs 43,905 per 10 gm.

International markets

Spot gold climbed 1.90 percent or USD 26.70 to USD 1,433.20 per ounce. International gold had touched its lowest level in more than two years of USD 1,321.35 on last Tuesday.

Here are the city wise gold and silver rates:

(Gold rates per 10 gm/Silver rates per Kg)

Mumbai
GOLD: Rs 26,840 (+445), SILVER: Rs 45,180 (+515)

Delhi
GOLD: Rs 27,400 (+300), SILVER: Rs 45,800 (+500)

Chennai
GOLD: 26,960 (+405)/ SILVER: Rs 44,850 (+300)

Kolkata
GOLD: 27,850 (+465)/ SILVER: Rs 46,250 (-250)

Bangalore
GOLD: Rs 26,885 / SILVER: Rs 45,800

Ahmedabad
GOLD: Rs 26,270/ SILVER: 44,200

April 22, 2013
Gold price gains for third day; up by Rs 300 to Rs 27,400

Dubai Gold Rate : Gold prices on Monday rose by Rs 300 to trade at Rs 27,400 per ten grams here on increased demand amid firming global trends.

Silver also snapped its six-day falling trend and recovered by Rs 500 to Rs 45,800 per kg on increased offtake by industrial units and coin makers.

Sentiment bolstered as stockists and retailers purchased gold at existing lower levels due to the prevailing marriage season, after the recent steep fall.

Gold in London, which normally sets price trend on the domestic front, rose 1.3 percent to USD 1,422.56 an ounce and silver by 0.5 percent to USD 23.36 an ounce.

Firming trend at the futures market, as speculators indulged in covering their short position in the recent bear phase, was another reason behind the upsurge.

On the domestic front, gold of 99.9 and 99.5 percent purity shot up by Rs 300 each to Rs 27,400 and Rs 27,200 per ten grams, respectively. Before the current Rs 750 gain in the last two days, gold had tumbled Rs 3,250 in last week.

Sovereign moved up by Rs 100 to Rs 24,100 per piece of eight gram.

Silver ready recovered by Rs 500 to Rs 45,800 per kg and weekly-based delivery by Rs 370 to Rs 43,670 per kg. The white metal had lost Rs 7,300 in the previous six sessions.

Silver coins also spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

April 22, 2013
Increase purchases Indians of gold in Dubai with the decline in gold prices

Dubai Gold Prices –Gold prices are currently shaken is the heaviest in years, having to shave at all-time highs to 1924 dollars per ounce in September / September 2011 he found himself at the borders of 1333 dollars last week, which is equivalent to a decline of 30 per cent from the peak.

For his part, the World Gold Council said in a statement published by the Saudi economic newspaper, to the existence of a conspiracy behind the collapse of prices.

Chief Executive of the Council Aram Shishmanian in the statement, “It has become clear over the past week that the fall in gold prices was making speculators in the futures markets, Venzerthm short-term profit-taking varies with the long-term outlook for investors in gold.”

He pointed out that it appeared clearly through the massive wave of buying physical gold, which was launched over the weekend and has accelerated in the wake of its further decline on Monday.

“The increase in gold buying seen in markets stretching from India to China to the United States, Japan and Europe, buyers see it as an opportunity to buy gold at prices not seen in the last couple of years.”

The director of a gold shop in Dubai yesterday: “ran out of our gold bullion and gold coins that have survived have is a class of eight grams, the Indian consumers in particular scrambling in the stores to buy any quantity they receive.”

The World Gold Council that follow closely the reactions of the market has already seen a shortage of bullion and coins in Dubai, while reached Moreover prices to $ 26 per ounce in Mumbai and six dollars in Shanghai, which indicates that buyers are willing to pay higher prices than the spot price for precious metal.

He described the dealers in Dubai last week that the worst of the alloy in three decades, as gold prices lost more than 10 per cent in a single day and more than $ 200 an ounce in two days.

And trades observers more than one reason for this rapid collapse of gold prices, which do one of the banks to sell tally of gold of 125 tons, and the prospect of Cyprus to sell her gold, which hit the largest investment banks panic and try to get rid which has a metal yellow with successive descent prices.

Said Gerhard Schubert, head of precious metals at Emirates NBD in Dubai in his weekly “It seems that the selling pressure big last Friday swelled order the sale of four million ounces” 124.4 tons of gold, “performs at the opening of the Comex, and it was clear that this demand was greater which bear an empty market, and thus resulted in the first waves of pressure sales, which in turn attracted more selling, and so on. ”

In the aftermath of the crash in gold prices during the first days of last week in Dubai traders expected higher demand for gold as a result of the arrival of prices to attractive levels, especially by the Indians the biggest consumers of gold in the world.

However, the prices quickly rebounded to and above $ 1,400 an ounce until Thursday, the last trading day in the UAE market before the weekend, but by nine o’clock at night fell spot price of gold below $ 1,400, to be trading at 1393 dollars per ounce.

April 21, 2013
UAE economy growth rates more than the world average

UAE’s economy growth rates than the world average growth rates him draws the attention of investors. Where are stronger macroeconomic fundamentals than it was since the beginning of the global financial crisis, and the expectations refer to owning this economy conservative elements of the driving forces for growth.

She economic advisor to Al Fajr Securities, Maha treasure, in its weekly report on domestic capital markets that in addition to new projects, which is more ambitious than in the past, has become the ability to attract capital financing and investment easier and less expensive than ever before.

She Treasure: reports indicated over the past week to issue Emirates markets instruments Gulf during the first quarter of this year versions valued at 13.5 billion dirhams (3.7 billion dollars), which represents 40% of the sales of instruments in the GCC during the period amounting to 9.34 billions of dollars.

Revenues fell instruments in the United Arab Emirates a significant decline over the past year, which enabled the Government of Dubai and many major companies and banks to refinance its financial obligations بطروحات the new less expensive, and received a large turnout by investors. The average yield instruments in the United Arab Emirates 3.43% in the middle of this month, down 72 basis points compared to the same period of last year.

It also showed the latest statistics issued by the Central Bank last week that the non-resident deposits with banks operating in the country rose by 21.68 billion dirhams, and by 19.3% in 2012, which means that banks operating in the country has been able to attract the financial flows from abroad because of the improved investment climate and the state of stability taking place in the UAE.

The performance of real estate markets

The report added: For the real estate market, according to the latest statistics issued by the Land Department in Dubai, has grown in value of the actions of residential units in Dubai during the first quarter of this year increased by 69.6% compared to the same period of last year.

The latest report from Jones Lang LaSalle to achieve the real estate market in the Emirate of Dubai in great demand in the first quarter, as an extension of its strong performance in 2012, and a report of Jones Lang LaSalle all sectors of the real estate market in Dubai for the first time since mid-2008 at the stage of recovery in the cycle This own market, also predicted increased demand for high-quality species, which will lead the continuous improvement of operations in performance in the coming period.

She Treasure: we read last week in several newspaper articles attached to the return scenes queues to buy real estate and Mira units within reconstruction projects – and an invitation for real estate companies to adopt regulatory measures realized by justice opportunities for local and foreign investors.

Another report showed higher average rents in Abu Dhabi during the first quarter by about 8%, especially for the luxury real estate sector, and the improvement also reflected on the sales market, where prices rose some average reached 13.5%, according to the report, Asteco.

The most profitable

Abu Dhabi market was the most profitable securities in the region during the first quarter of this year to achieve an increase of 15%, as the Dubai Financial Market occupied the third place on the list, up 12.7% over the same period.

He led banks and real estate sector price rises during that period, the real estate sector was the best performer on the sectoral level, where he scored index – issued by the Securities and Commodities rose by 21.5% during the first quarter followed by the banking sector, an increase of 18.19%.

April 20, 2013
Gold dropped promotes stocks chances in UAE in attracting new liquidity

Analysts said that if confirmed whether the coming period, the downward trend of the gold market, investors Will be forced products traded on the stock market and hedge funds to look for alternatives, including raising their allocations to invest in the region’s markets, whether in stocks or real estate.

They pointed out that the strength of the local economy and increase the number of international reports that you expect to achieve higher growth rates than global rates increases the chances went global financial institutions to invest in the stock markets and real estate UAE, arguing that the conditions of global stock markets, and the availability of laws encouraging investment environment that operates according to standards World in the UAE, increase the chances of those actors investment in local stock markets.

They pointed out that the sharp decline that occurred in the price of gold increases the possibilities that the year 2013 is a big year exit from investments in precious metals and stock-oriented again.

They said that the registration yellow metal biggest decline since ‬ 30 years, due to the information received from the pursuit of Cyprus to sell their reserves of gold, and spread fears of a pursuit of other central banks in the euro area to take action similar, called speculators such as hedge funds known Bmihm to quickly dispose When looming changes that gradually lose confidence in the gold market.

In regard to the situation of global commodity markets and its relation to the performance of global stock markets and then local stock markets, said Treasure: «already expected to be in ‬ 2013 is the year of exit many fixed-income investments and the trend towards stocks again, which is what has been achieved this week viacall by many analysts out of investing in precious metals to go towards the stocks, so after gold record the biggest drop price since ‬ 30 years ago during the two sessions of last week, lost during which more than ‬ 10%, and became down ‬ 20% compared Levels the beginning of this year.

April 20, 2013
Importance of Support And Resistance points In Forex Trading ?

Points of support and resistance are two of the most important concepts of technical analysis and the most important thing is looking for stores in the chart are two of the most obvious things once a quick look at the chart of the same coin that you can learn the points of resistance and support for the currency.

What are the points of resistance and support?

Resistance: is the price, which is difficult for the currency to rise above it, and this will help you in technical analysis of the currency.

currency may begin to rise hours behind the hour is getting priced on an ongoing basis, but when it reaches a certain price begin to fall again and then rise again and when you reach for the same price previously belonged to drop, and so many times and for several days, the higher the price of the currency and arrived to this Price returned and dropped again, the it is difficult to notes on the currency that exceed this price, such a price is called the resistance price, a price that prevents – Resists – the currency to rise above it. The points can find out easily when checking resistance in the graph currency.

Note that the candles go up on the charts, but when you reach the 1.0030 rate back down and repeat it more than once.

Using the program can graph to draw a line illustrates this point and that is the point of resistance for the euro is difficult for the euro to rise with him.

Note that the price if it exceeds the previous resistance point it rises to up to 1.0145 and then return rate to decline more than once. Price latter can be considered a second point of resistance for the price.

Resistance point is like impediment that stands in the way of price and prevents further rise, which indicates that demand for the currency at least when fetch up to this point and is not a lot of people willing to buy the currency at this price, and when demand is low back price decline ..

Resistance point is the price at which the demand for currency is less than supply them, does not mean that the price can not rise above the point of resistance might even beyond, but before doing so have been dropped by several times, and whenever the number of times that he could not price to go beyond the point of resistance, the more it meant that the point of the strongest resistance strong resistance.

What’s important to discover the point of resistance?

When you know that the price when it rises and reaches a certain price and then come back and drop means that when you see that the price of currency has become close to the point of resistance you expect for the price to come back and drop then, when the price reaches a point of resistance will sell the currency at this price because you expect it to go down if dropped actually will buy again.

Support Support point: is the price, which is difficult for the currency to fall without it.

The low price of a currency-hour behind-hour but when the price reaches a certain point back and rise again and repeated it several times, we call this point point support that is, they point at which “supports” the price and prevent it from declining more than that, which indicates that the currency when the fall to be up to the price support are in demand by a lot of people and they become willing to buy at this price, it does not mean that the price can not be reduced from the point of support but also means that the price finds an obstacle to further decline when the price reaches a point of support, the more the number of times that the price could not fall from the point of support, the more it means that the point of the strongest support strong support.

Figure notes that candles go down but when you reach the 0.9905 rate go up again.

Using the graph can be plotted line shows that as you can see in the figure, noting that the price that has fallen from the point of previous support returns and rising at the rate of 0.9780 can therefore be regarded as price last point of support again. Similarly, if the price dropped from the point of support second rise again when up to the price of 0.9700 So is this third point of support price to the price of the euro.

There are a lot of tools that you can use in the program graphs, you’ll get from the brokerage firm for free or for a monthly subscription, enables these tools to draw lines and write notes and change colors and zoom in and away and a lot of other tools that help you analyze the chart format that suits you and relieves .

There will be guidelines and instructions help you to do this, and in any case work is graphic program does not need any special skills, but is available for all and a little practice, you’ll find that dealing with the issue is very simple.

What is the importance of the discovery of points of support?

When the price drops and approaching the point of support is likely that he will return to rise again, so when the price of the currency at the point of support we can buy this coin because we expect that the price will rise after that.

Currency direct and indirect again

It is very important that you know that the orders for Lin and the Swiss franc be reversed orders of the euro and the pound.

We have said as a general rule Background:

In the euro or pound sterling

Candles rise in the graph refers to the high price of the euro or the pound.

Low candles in the chart indicate to lower the price of the euro or the pound.

In the yen and the Swiss franc

Candles rise in the graph refers to the decrease in the price of the yen or the franc.

And low candles in the graph refers to the rise in the yen or the franc.

Here you can learn how to deal in the case of the approach of the currency of support or resistance line, you can depend on the following rule:

General rule

Resistance line: is the line which limits candles – or bars – in the graph from the top and putting her climb more.

Support line: is the line which limits the candles in the chart from the bottom and hampered for more downside.

When touches candles line resistance resistance is expected to fall to the bottom so:

Currency in direct

We sell the currency when it approached resistance line.

In indirect currency

We buy the currency when it approached resistance line.

When touches candles line support support is expected to rise to the top so:

Currency in direct

We buy the currency when it approached the line support.

In indirect currency

We sell the currency when it approached the line support.

April 20, 2013
Gold price drop 20 AED per gram in the biggest drop in two years

UAE Gold prices show yesterday declines ranged between 16 and 20.75 dirhams per gram, compared to rates of price end of the previous week, according to gold rate in Dubai .

Officials jewelry shops described artifacts gold in Dubai and Sharjah, dips price as the largest in nearly two years, arguing that the market is witnessing activity growing in popularity dealers to buy bullion and gold coins and jewelry, bringing the sales of those products at rates exceeding ‬ 30% compared to last week.

price of gram gold (24) carats, yesterday 166 dirhams, a decrease of 20.75 dirhams by the end of last week, while the price of Gram (22) carats, 157 dirhams, down amounted to 18.5 dirhams.

The price of gram (21) carats to 148.25 dirhams, a decline of 18.75 dirhams, while the price of Gram (18) carat 127 dirhams, a decline of 16 dirhams.

A store manager «Alujain to jewelery trade, Ebadi preferred, that« the big declines in gold prices, spurred a large number of dealers to buy gold jewelery of various kinds, as well as bullion and coins for investment purposes and savings.

He stressed that «ports saw sales exceed the growth rate of 30%, compared to last week, especially with the turnout of Arab citizens and residents to buy large quantities of artifacts in preparation for weddings.

In turn, the official said sales in the shop ‘Jewelry of days’, Jalish Saqr, that «the significant decline achieved gold prices, finally, not seen in the market about two years ago, especially with the decline in the price of gold grams of rounds (18), which is most common in the sales, below 130 dirhams ».

He added that «declines lured dealers بالإقبال on buying alloys and products for savings, contributed to the increase in sales activity rates estimated at 30%, compared to last week.

For his part, an official said sales in the shop «Romaizan Gold and Jewellery», Mahmoud Al Yafei, said that «outlets currently witnessing a huge demand for gold bullion rounds ‬ 24 carats, which is most commonly used for the purposes of investment», pointing out that there is a growth in sales Goldsmiths rate is estimated at 30%, especially in Ayari (21), and (18) carats.

In the same context, the store manager pointed «Jewelry Dhecn», that «the declines recorded by the gold prices at high rates Finally, rates lifted demand for purchase in jewelery outlets, stressing that the market has not seen these prices since about two years.

He stated that «the current prices are attractive to buy customers, whether for decorative purposes or for savings, which revived sales of gold traders at rates varying ranged between ‬ 20 and ‬ 30%», expected to continue growth in sales in the event of continued gold prices at rates comparable to its current borders .

The official agreed sales in the shop «Kanz Jewellery», Mayor Femara, with his counterparts from the merchants in the retail outlets have seen during the past two days, an overwhelming response from dealers with gold prices start to achieve significant decline in rates.

He explained that «dips and synchronizing periods to prepare for the summer holidays and weddings, has contributed to the substantial growth in sales.

April 19, 2013
India’s gold pawn business stumbles as metal skids

(Reuters) – At a Mumbai branch of gold loan provider Manappuram Finance Ltd (MNFL.NS), customer walk-ins have halved in the past week. At another, customers are rushing in to release their pledged gold, expecting further falls in the price of the metal.

Officials at these branches are scrambling to contact customers asking them to pay their dues and, in some cases, top up their collateral after the value of gold tumbled to a more than two-year trough to around $1,321 an ounce.

Manappuram Finance and Muthoot Finance Ltd (MUTT.NS) – two of India’s biggest gold pawn companies – now face the risk of a slowdown in their business and, worse, rising bad loans because some borrowers may choose to default and not redeem pledged gold that is now worth less than when the loans were made.

“I had taken a loan about a year back for an emergency. Now, it doesn’t make sense to pay up the outstanding dues,” said 41-year-old Tamanna Gowda, who pawned his wife’s gold bangles to draw a loan of 60,000 rupees when the yellow metal was hovering above $1,790 an ounce.

India is the biggest importer of gold in the world. Jewellery made of the metal is an essential part of the dowry Indian parents give to their daughters at weddings.

Just two months back, customers got about 2,300 rupees for each gram of gold pledged with pawn shops. Now, the value has fallen to about 1,800 rupees.

Concerns that there could be many more potential defaulters like Gowda have made investors jittery and prompted ratings agency ICRA to lower its outlook on Manappuram and Muthoot to “negative” from “stable”.

Analysts contacted by Reuters expect 18-20 percent of gold loan firms’ books to be under pressure as the metal skids.

Manappuram has warned that defaulting borrowers would force it to report a quarterly loss, but Muthoot remains optimistic and does not expect the slump to affect its business model.

At Muthoot, loans that were 90 days or more past due more than doubled to over 7 percent of its total book at the end of March from a year earlier. At Manappuram the figure ballooned to 9.4 from 2.4 percent over the same period, according to ICRA.

Indian banks and other finance companies, which have small gold-loan portfolios, are also raising collateral demand at their branches, senior bank executives said.

“We have to be prepared for further drops,” K. Venkatraman, CEO of private sector lender Karur Vysya Bank (KARU.NS), told Reuters. Gold loans account for a quarter of its total assets.

“We may ask some customers to make part-payments where margins are very low. We have issued circulars to our branches that if there is need they can go after specific customers.”

NERVOUS INVESTORS

Both Manappuram and Muthoot have grown rapidly. As recently as the fourth quarter of 2011, gold loan companies were offering to lend $100 against jewellery valued at just $110, and their net profits surged handsomely that year.

The Reserve Bank of India acted to contain the risks last year. It asked banks to cut exposure to companies that lend against gold in a bid to increase surveillance of such firms and check excessive lending against the metal. It also barred such companies from making loans exceeding 60 percent of the value of gold jewellery held as collateral.

Most analysts rate Muthoot and Manappuram as a “buy” or “strong buy”, according to Thomson Reuters data. Morgan Stanley Investment Management, Reliance Capital and Goldman Sachs Asset Management were among investors in either of these companies at the end of last month, according to fund tracker Value Research.

But, as gold started tumbling this week, nervous investors bailed out of both firms. Muthoot shares fell to their lowest in nearly a year and rival Manappuram’s shares hit a new low.

“A few of our customers who haven’t paid their dues are unlikely to do so now. It doesn’t make economic sense anymore,” said a branch manager at Manappuram’s central Mumbai outlet.

The CEO of Manappuram, which expects a loss in the March quarter due to bad loan growth, was not reachable for a comment.

By contrast, Muthoot Finance does not expect any impact on its profitability, George Muthoot, managing director of Muthoot Finance, told Reuters in an email reply to questions.

“Considering our long-term relationships, the concerns over wilful defaults seems far-fetched. There is a genuine demand for gold loans and we continue to stay optimistic about our growth prospects,” he said.

However, investors are unlikely to return soon to a market overshadowed by fears of central bank sales and slow global growth.

“The view on gold does not suggest that it will bounce back in a hurry, so there is no compelling reason to look at these stocks,” said Sudhakar Shanbhag, chief investment officer of Kotak Mahindra Old Mutual Life Insurance Ltd, which recently sold its exposure in these companies.

(Additional reporting by Nishant Kumar in HONG KONG; Editing by John Chalmers and Sanjeev Miglani)

April 19, 2013
Gold near two-year low; heads for fourth week of decline

Gold was little changed in cautious trade on Friday, heading for a fourth week of losses after this week’s historic sell-off shattered investors’ confidence in the typically safe-haven asset.

Gold investors are waiting for the release of U.S. CFTC commitment of traders data at 1930 GMT for more trading cues after funds dumped their holdings on global exchange-traded funds.

FUNDAMENTALS

* Spot gold added $1.60 an ounce to $1,392.35 by 0022 GMT, still within sight of a 2-year trough touched earlier this week. The metal recorded its biggest ever daily fall in dollar terms on Monday, catching gold bulls, speculators and veteran investors by surprise.

* U.S. gold futures were also little changed at $1,392.70 an ounce.

* Premiums for gold bars in Hong Kong, Singapore and Tokyo were at multi-months highs after the drop in prices ignited a spate of buying in gold coins, nuggets and bars.

* Investors in U.S.-based funds pulled $2.7 billion out of commodities and precious metals funds in the latest week as gold suffered a sharp selloff, data from the Thomson Reuters Lipper service showed.

* The largest exchange-traded fund (ETF) for bullion saw less money outflows than during the 2009 selloff, according to funds tracker Lipper.

* The euro zone will slow its budgetary belt-tightening to help reinvigorate economic growth, a top EU official said on Thursday, highlighting a policy shift the United States has long been pressing for.

MARKET NEWS

* Worries over global growth capped Asian share prices on Friday as more soft U.S. economic data and mixed U.S. earnings results further undermined investor sentiment already hit by a broad sell-off that started earlier in the week.

* The euro and yen started Asian trade on Friday in familiar territory having steadied from wild swings in a week that took a heavy toll on commodity currencies such as the Australian dollar.

* U.S. crude futures extended declines towards $86 a barrel on Thursday, hurt by a stronger dollar and lingering concerns over global demand for oil.

April 19, 2013