Tag: Gold prices

Anticipation is still in control of the trades in the gold markets moving within the scope of accidental and weak trading volume on Thursday ahead of the announcement of the growth data for the third quarter in the United States.

Gold prices recorded levels of $ 1318.91 per ounce after it achieved its highest at $ 1319.87 per ounce, the lowest $ 1,315.00 per ounce.

Waiting for today’s announcement of the growth data for the U.S. economy for the third quarter at a time may shed light on the trends toward reducing the Fed’s quantitative easing policies valued at $ 85 billion per month.

Also waiting for tomorrow’s announcement of the monthly jobs report and therefore the movements of gold may see fluctuations until the announcement of the report, which will determine the point of gold in the short term investors based on the pricing of U.S. data and linking them to speculate the Fed decisions

Quantitative easing policy was behind the doubling of the price of gold over the past three years, which prompted investors to hold gold as a store of value, but gold prices have fallen during the current year for the first time in 13 years of consecutive rise.

Gold prices lost an average of less than 25 percent of its value since the beginning of this year after economic data showed an improvement at the global level and in the United States and start talking about the Bank towards reducing quantitative easing policies, prompting the exit of investors from the gold markets as large.

While showing the SPDR Gold Trust Fund’s largest gold-backed ETF in the world showed an increase in the volume of gold has about 2.10 tonnes to 868.42 tonnes on Wednesday and was still at its lowest level since February 2009.

U.S. economic growth data for the third quarter will be released at 13:30 GMT.

Gold prices traded within a limited range during early trading today while awaiting the markets in which investors in the U.S. data , which may indicate the extent to Bank about reducing  policies quantitative easing.

Gold prices recorded levels of $ 1312.08 per ounce after it achieved higher at $ 1,315.33 per ounce and the lowest $ 1,308.99 so far.

Caution and anticipation dominated investor sentiment towards gold , so seeing weak since the beginning of the trading week.

We have this week’s data on U.S. economic growth in the third quarter, as well as the jobs report monthly and as long as the Fed decision was made to keep the policies of quantitative easing worth $ 85 billion until the economy improved it so left to the markets of freedom to predict when reducing those policies based on the strength of the data economic development.

Weak trading reflects the uncertainty on the direction of the bank at a time when varying expectations that the bank early reducing before the end of this year and other forecasts see he will not do so until the end of the first quarter of next year.

When the FED  adopted quantitative easing policies during the 2008-2009 global financial crisis prompted investors to keep gold as a hedge against inflation and a store of value which contributed to the doubling of the price of gold over the previous three years , while the price of gold continued to rise for about 13 years , respectively, until the beginning of year.

Gold prices lost an average of less than 25 percent of its value since the beginning of this year after economic data showed an improvement at the global level and in the United States and start talking about the Bank towards reducing quantitative easing policies , prompting the exit of investors from the gold markets as large

Gold prices tended to decline after rising to start today and that the transactions were destined to achieve the best quarterly performance in almost a year .

Gold prices recorded an hour writing levels of $ 1339.35 per ounce after it opened today at $ 1341.374 per ounce and has achieved lowest at $ 1335.30 per ounce.

At the monthly level prices fell more than 3.7 % , but at the quarter – the period from July to September – rose by 8.56 % and which is the best since the first quarter of 2012.

But despite the high price of gold at the quarterly level but the prices are still down 20 % since the beginning of this year in light of concerns about the withdrawal of federal stimulus plans and U.S. economic data improved in relative terms .

But the remaining uncertainty is the dominant trading At the same time fluctuating investor sentiment in the markets about the potential dangers of the occurrence of the U.S. government in bankruptcy and the inability to meet financial obligations as long as did not reach legislators in the country to an agreement on the financial budget for the new fiscal year which starts from tomorrow, Tuesday .

The dilemma of the U.S. debt ceiling if it is not lifted by the middle of this month , the U.S. government will not be able to meet the obligations and debt own and thus shut down government offices and failure to pay the salaries of the staff as well as the costs of servicing the debt and therefore the impact of extremely bad on the global economic situation.

Some see that this dilemma will push the Federal Reserve Bank to keep monetary policy as it is for a longer time , and this is in extent   may be supportive for gold prices .

Fed kept the policies of quantitative easing monthly value of 85 billion U.S. dollars , contrary to what markets were expecting , but that the statements of members of the Federal Reserve pointed to the possibility of the direction of the bank to reduce the stimulus plans later this year, which put investors in a state of anticipation about the data economic and look for signs to confirm these trends .

This comes in conjunction with the re- unit political turmoil again in Italy , which could result in the collapse of the coalition, the current government led by Enrico Letta , who will go to parliament on Wednesday to seek vote of confidence on the government’s current and subjected to blackmail from center-right party ‘s Berlusconi after withdrawing their ministers from the government.

In light of these events mentioned above may keep the gold as a safe haven in the short -level until things clear fully later than October

Chinese data released today were disappointing despite the growth of the industrial sector in September compared to the previous month , but the final reading came a value of 50.2 and the lowest reading of the initial value of 51.2 and compatible with expectations, but the events U.S. and Italian cast a shadow over the data.

Gold prices fell on Monday after losing prices in the last trading session result of a state of confusion which witnessed the result of market expectations about U.S. monetary policy.

Also among those expectations was announced by James Pollard, President of the Bank of San Luis Federal Reserve that the next meeting of the Federal Reserve Board may modify its decision, which surprised the world when through the survival of the Council on the monetary policy of past and which would have been higher gold prices to compensate for the achievement from earlier losses.

And so it has dropped the price of gold today for immediate sale in its first session decreased by 0.4% to 1319.76 U.S. dollars per ounce, as the price of gold today for decades American futures for December delivery its values ​​$ 12.50 for up prices to the level of 1320 U.S. dollars per ounce.

And at the level of other precious metals prices have fallen silver for immediate sale rose 0.9 percent to 21.60 U.S. dollars per ounce, and fell platinum rose 0.2% to close at 1423.50 U.S. dollars an ounce, also fell palladium rose 0.2% to close at 712.97 U.S. dollars an ounce.