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Tag: Gold price

  • Gold demand in the UAE declined 27% to 2.43 tons in 6 months

    Gold demand in the UAE declined 27% to 2.43 tons in 6 months

    Decline in demand for gold in the UAE by about 27% in the first half of this year to reach 2.43 tons, compared with 1.48 tons in the first half of last year. The data showed the World Gold Council that the value of the demand for the precious metal fell in the first half of this year by about 23% to 8.1 billion dollars, compared to about 34.2 billion dollars in the first half of last year.

    Decline in demand for gold in the UAE by about 32% in the second quarter of this year to 8.17 tons, compared with 1.26 tons in the second quarter 2013. The record jewelery demand decline parallel to 5.14 tons, as well as the decline in demand for bullion and gold coins by 32% as well to 3.3 tons.

    World Gold Council data showed for the movement of gold demand worldwide in the second quarter of 2014, the value of gold demand in the country fell during the second quarter of this year by about 38% to drop to 737 million dollars, compared with 19.1 billion dollars in the second quarter 2013

    Drop of Value of jewelery and gold to 38% to fall to 601 million versus $ 964 million dollars in the second quarter of last year, and the decline in investment demand for bullion and gold coins for itself to 137 million versus $ 222 million dollars in the second quarter 2013. The report showed that demand for gold in the UAE dropped by about 1% in the year ended with the end of the second quarter of this year, up to 8.72 tons, compared to 3.73 tons for the year ended in June 2013.

    The decline in demand for bullion and gold coins in the year ended in June 2014 by about 7% to 5.13 tons, while the record demand for jewelry during the same period grew by 1%, rising to 3.95 tons, compared with 8.58 tons in the year ended in June 2013.

    In terms of value arrived decline in the value of gold demand in the state during the year ending in June 2014 to 18%, up to the value of demand to 03.3 billion dollars against 71.3 billion dollars in the year ended in June 2013.

    The value of the demand for gold jewelery in the same period by 17% to 47.2 billion dollars against 97.2 billion dollars in the year ended in June 2013. As well as the decreased value of the demand for bullion and gold coins by 24% to $ 563 million, compared to $ 736 million during the year ended in June 2013.

  • Receding fears of rising U.S. interest rates supports gold prices

    Receding fears of rising U.S. interest rates supports gold prices

    Gold Found a good support above $ 1,290 an ounce on Monday, where trimmed weak data on non-expected job of U.S. concerns that baptizes the Federal Reserve, the U.S. central bank to increase interest rates soon, while the resulting decline in the stock to buying in search of a safe haven .

    The data on Friday showed U.S. jobs growth slowed in July, and the sudden rise of the unemployment rate, which predicts remarkable ease in the labor market. The non-farm payrolls increased 209 thousand last month, while economists expected increase 233 thousand.

    The data support the viewpoint that the Fed’s sharp decline in the unemployment rate over the last year hides the significant weakness in the labor market, which refers to the need to keep interest rates at current levels extremely low.

    By the time 0643 GMT, the spot price of gold was little changed at 1294 dollars an ounce, after rising about one percent on Friday after weak U.S. data. Silver rose 0.6 percent to 20.41 dollars an ounce.

    Platinum rose 0.4 percent to hit U.S. $ 1460.25 and palladium rose 0.3 percent to 864.22 dollars an ounce.

  • Gold rises from the lowest level in six weeks before U.S. data

    Gold rises from the lowest level in six weeks before U.S. data

    The price of gold rose slightly on Friday, above its lowest level in six weeks on Thursday, hit with the approach of the dollar from its peak in ten months, but moves were limited ahead of U.S. jobs data, which may trigger a new wave of selling.

    The jobs data after a string of upbeat reports the U.S. economy, which included signs of improvement in the job market. The data show the largest increase in labor costs in five and a half years in the second quarter may have contributed to the decline in gold increased by one percent on Thursday.

    The price of spot gold up 0.2 percent to 1284.50 dollars an ounce 1202 GMT. Gold was the record of $ 1280.76 on Thursday, its lowest level since June 19.

    The price of gold futures contracts U.S. $ 2.50 to U.S. $ 1285.30 an ounce.

    It is expected to show the jobs report for the month of July, adding 233 thousand jobs to the economy last month, the sixth month in a row that the economy added more than 200 000 jobs to be the longest wave of its kind since 1997.

    Among other precious metals, the price of silver in online transactions 0.1 percent to 20.37 dollars an ounce.

    Platinum was down 0.1 percent to 1453.74 dollars an ounce and palladium lost 0.3 percent to 864.72 dollars an ounce

  • Gold falls after profit-taking from the previous session

    Gold falls after profit-taking from the previous session

    Gold futures fell. Friday, as traders closed their positions after the precious metal upward trend due to the recent rise in demand for safe haven amid geopolitical tensions in Ukraine and the Middle East.

    On the Comex division of the New York Mercantile Exchange, gold fell delivery in August to trade at 1.312.60 dollars an ounce during early European afternoon trade, shedding 0.33%.

    And settled a contract in August, up 1.32% on Thursday to close at 1.316.9 Dolarllounsh.

    The gold futures contract is likely to find support at 1.298.10 dollars an ounce, the lowest price for Thursday and resistance at U.S. $ 1.340.90 per ounce the highest level since July 14 / Yuli

    Gold rose after a plane crash passengers on Malaysia Airlines in eastern Ukraine overnight. And that at least 298 people on board were all killed, bringing the incidence of strongly dispute between Kiev and Moscow and rebels in which Tardahm Russia and the West.

    The incident came a day after the United States announced a series of sanctions against Russia, after the annexation of the Crimea in the month of April / May and tensions circle in the rest of Ukraine. The United States has put a larger package of sanctions on Russia until now.

    The precious metal also found support counting that Israel announced Thursday evening failed to start the ground campaign in Gaza after 10 days of air and naval bombardment to stop Palestinian rocket attacks.

  • 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 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

  • Gold falls from the highest level in nearly three weeks due to profit-taking

    Gold falls from the highest level in nearly three weeks due to profit-taking

    (Reuters) – Gold prices fell on Monday as investors booked profits after rallying earlier to its highest level in nearly three weeks due to disturbances Iraq that supported the metal’s appeal as a safe haven compared with other assets involve a higher risk, such as stocks.

    The prices of platinum and palladium after big losses last week as investors awaited the result of talks to end the strike in the mines of South Africa.

    Gold rose initially after the United States said it had launched air strikes in support of the Iraqi government after the attack in which Islamic militants seized several towns and cities in Iraq.

    Usually turns investors to gold or other precious metals in times of political unrest or to hedge financial risks.

    The decline in gold on the spot market 0.2 percent to 1273.50 dollars per ounce by the time 1614 GMT, after hitting its highest level since May 27 of $ 1284.85 earlier in the session.

    The futures fell for gold in the United States August delivery dime to 1274 dollars per ounce.

    Gold prices got support also in the beginning of the developments in Ukraine, where insurgents shot down pro-Russian transport plane belonging to the Ukrainian army.

    Platinum rose 0.7 percent to 1434.40 dollars an ounce.

    And palladium rose 0.1 percent to 810.20 dollars an ounce.

    And silver fell 0.2 percent to 19.63 dollars an ounce

  • Daily Report For Gold 7/11/2013

    Daily Report For Gold 7/11/2013

    Daily Report For Gold 7/11/2013

    Gold trading in the Asian market on Wednesday within a narrow trading amid anticipation that controls the investors ahead of the European interest rate decision for the month of November, the statement ahead of the growth of the U.S. economy to the third quarter of this year.

    Gold ended trading yesterday on the rise by 0.5 percent, ending a wave of decline continued throughout the day seven consecutive days within a longer series of daily decline since middle of May.

    U.S. economy

    Awaits the U.S. economy important data will show how the economy ‘s need for the continuation of the Federal Reserve in the same stimulus policies unchanged for as long as possible .

    Where issued an initial reading of GDP for the third quarter is expected to grow by 1.9 percent from 2.5 percent the second quarter , and issued weekly jobless claims expected 336 thousand from 340 thousand for the previous week .

    The U.S. economy is also expected jobs report on Friday Non-Farm Payrolls for the month of October is expected 121 thousand jobs of 148 thousand jobs during September .

    And the current outlook for growth and jobs are in favor of the continuation of the same policies and stimulus to keep bond buying program estimated $ 85 billion dollars a month to a longer period may extend to next March by some economists ‘ expectations .

    Gold price is still trapped between the levels of 1300.00 and 1328.00, and waits for a strong incentive driven toward a clear path on the intraday and short term, the conflict continues between the SMA 50 negative and positive stochastic

    Trading range expected for today is between: Support Resistance 1290.00 and 1350.00

  • Gold price tumbles by Rs 625 to Rs 31,100 on sluggish demand

    Gold price tumbles by Rs 625 to Rs 31,100 on sluggish demand

    Gold price tumbles by Rs 625 to Rs 31,100 on sluggish demand

    Gold prices tumbled by Rs 625 in the bullion market in New Delhi on Monday on sluggish demand at prevailing higher levels.

    Traders said the yellow metal’s prices were pulled down amid a weak global trend on speculation that the Federal Reserve policy makers will reduce monthly debt purchases this month.

    Gold in London, which normally set price trend on the domestic front, fell 0.3 per cent to $1,387.24 an ounce and silver by 0.3 per cent to $23.78 an ounce.

    On the domestic front, gold of 99.9 and 99.5 per cent purity tumbled by Rs 625 each to Rs 31,100 and Rs 30,900 per 10 grams, respectively. It had gained Rs 725 in the previous session.

    Sovereign held steady at Rs 25,200 per piece of eight gram.

    On the other hand, silver ready ruled steady at Rs 54,300 per kg while weekly-based delivery shed Rs 35 at Rs 54,895 per kg. Silver coins continued to be asked around previous level of Rs 88,000 for buying and Rs 89,000 for selling of 100 pieces.

  • Gold prices expected to rise to $ 1,550 by the end of this year

    Gold prices expected to rise to $ 1,550 by the end of this year

    Gold prices expected to rise to $ 1,550 by the end of this year

    Dubai Gold – Expectations continually rise in gold prices due to increased demand for jewelry in China and India, which helped to avoid the decline in current assets in index funds backed by gold.

    According to Bloomberg, citing Jeffrey Rhodes, Managing Director of Financial Institutions at Kaluti Jierule the Dubai-based that prices will go up to 1,550 dollars an ounce by the end of this year, pointing to the absence of signs of a slowdown in demand from India and China, which constitute what 60% of the volume of global consumption of the metal.

    The rise of prices reduce the size of the first metal loss inflict prices since 13 years after some investors lost confidence in the metal as a store of value with Rod expectations of recovery in the U.S. economy.

    The metal had regained 17% of its value since reaching the price level of $ 1,180.50 an ounce on June 28 last year, the lowest level in 34 months, with the support of the rise of demand for the metal from India, China and Turkey.

    And contribute to the recovery of demand for the metal in the spot markets in overcoming the negative consequences of the wave of selling exposed gold ETF backed by investors including billionaire John Paulson.

    The company said that demand for the metal in the spot markets will escalate by Western investors, although the improvement in global economies, the continued decline in real interest rates to below zero means that gold prices will continue to be expected to increase.