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Tag: gold

  • 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.

  • Top Five Reasons For Gold Trading

    Top Five Reasons For Gold Trading

    Top Five Reasons For Gold Trading

    Gold trading is becoming more and more important for many reasons.Gold is more than just an inexpensive way to decorate your neck or fingers. Gold is used in dental coverage and as a conductive material will not be subject to erosion and help in the transfer of information in electronic form from one place to another.

    Gold is used in helping to build a spacecraft that need to be stronger and more durable materials. Even that gold is used in the medical aspects of treatment as part of the line for some forms of cancer and rheumatoid arthritis. But in addition to its uses concrete, gold is known as one of the most traded on the equivalent of a large scale, because it is considered historically safe investments and which are not prone to dramatic fluctuations based on market fluctuations or movements of any major currency.

    Fortunately, the trading of gold is not available for governments and financial institutions only, as it is an important option available to individual investors around the world, those who are looking for a way to take advantage of this asset safe. If you are not familiar with the benefits of trading gold, the thought of the following five reasons to buy gold.

    1- Inflation protection: In gold trading, the value of gold tends to rise with the increase in the cost of living, which means that it is protected from inflation. If thrown a quick look at the history of the U.S. stock market, you will see that in times of high inflation, fell Mair Dow Jones Industrial Average, while the cost of gold remained stable, if not higher than normal. Accordingly, anyone who has a concern about the impact of inflation on their investment returns him to think of investing in gold.

    2- Gold helps to diversify the investment portfolio: any decent financial adviser will tell you that it is very important to have a diverse list of assets in the investment portfolio. Although some people believe that diversity is calculated only when it is in the form of a mixture of stocks, bonds or CFDs or currencies, but gold trading is an excellent way to add a new dimension to the investment portfolio, and to add a bit of stability even in the province dangerous.

    3- Gold is immune to crises geopolitical: Although the currency values ​​and stock prices tend to fluctuate depending on the political climate in a particular country at a particular time, trading gold because it tends to resist such price changes dramatic, and that makes it a strong option for anyone with concerns that the state of the currency could be in danger or who has a concern that their currency may lose its value for any reason at the time that they desperately need.

    4- Limited production increases the value: Unlike currencies, where the leaders of governments to intervene by injecting more money almost immediately, the production of gold is a tedious process and you may need to years. In gold trading, for this reason, every few years there is no time exceed the demand for supply, leading to a rise in the value of gold.

    5- Gold has a history: Even a quick outlook on market patterns will indicate that all currencies fall dramatically at a time, and that global Equity markets fell as well. However, gold is a metal maintained its value since thousands of years. Gold is considered a valuable biblical time ago, and it remained until the present time. Although the price does not always rise, but gold has never tested a long-term decline in the value as is the case with all of the major currencies throughout history, including the U.S. dollar. For these and other reasons, too, the gold trading becomes more popular day after day.

  • 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.

  • 10 reasons why gold prices may hit Rs. 21000

    10 reasons why gold prices may hit Rs. 21000

    10 reasons why gold prices may hit Rs. 21000

    Gold prices (in dollars) are down 20 per cent in 2013. Spot gold is currently trading at $1,391.30 an ounce. In India, gold futures for May delivery dipped below Rs. 26,000 per 10 gram mark earlier this week. Global investment bank Credit Suisse says “the sell-off could have further to run.” If we were to pick an “ideal” ultimate target for the sell-off though, it would be $1085 (or Rs. 21,000 per 10 gram), Credit Suisse says.

    Here are 10 reasons why gold prices may fall further:

    1- Gold expensive over the long term: In real terms (dollars adjusted for inflation), the average price of gold over the very long run (150 years) is around $520 an ounce against $1,391 an ounce currently, Credit Suisse says. Clearly, gold continues to be expensive over the long term average despite the sharp correction this year.

    2- Gold expensive against other commodities: Gold remains expensive when valued against hard assets, such as base metals and U.S. real estate, as well as against other investment classes such as US equities, Credit Suisse says.

    3- Global stock markets are at record highs. Besides, equities offer some dividend yield as well, which means the opportunity cost of holding gold has become too much to bear for many investors, Credit Suisse argues.

    4- Inflation no more a risk: Investors buy gold to hedge against inflation. However, policymakers in the developed world have failed to generate even moderate 2-2.5 per cent inflation, Credit Suisse says. So, gold as an inflation hedge is losing its charm as the prospects of a sharp move in prices remains remote. (Also read: Why 2013 may not be the year of gold)

    5- No imminent collapse of financial markets: The European Central Bank’s commitment to preserve the euro and the determination of other leading central banks to underwrite risk and the recapitalization of financial institutions means reduced risk and thus reduced demand for insurance in the form of gold, Credit Suisse says.

    6- No threat to dollar: There have been numerous stories about the potential outbreak of “currency wars” amongst the major industrialized economies leading to forex instability. However, if everyone eases together, it will in theory not impact cross rates, Credit Suisse argues.

    7- QE coming to an end: The U.S. Federal Reserve has been printing money to shore up the U.S. economy. This liquidity has been driving up asset prices including gold. Credit Suisse says at least 435 tonnes of gold could be liquidated once the Fed withdraws quantitative easing, thereby putting further pressure on gold prices.

    8- Central banks are not buying gold despite falling prices and any intervention by them to support prices looks unlikely, Credit Suisse says.

    9- No support to gold prices from high production costs: While cost inflation across the gold mining sector has been high, the marginal cost (the change in total cost that comes from producing one additional item) is unlikely to provide support to gold price in the short to medium term, Credit Suisse says.

    10- Gold in bear territory: Going by the past trends, a 60 per cent retracement of the 2005 to September 2011 rally over the two and a half years would take gold back to around $1,000 an ounce (nominal) by the end of March 2014, Credit Suisse says.