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Commodities Briefing - Category | Bullion/Gold more

Gold remains defensive but cycles suggest opportunity

Posted on 24 April 2014 by VRS  |  Email |Print

Gold remains defensive amid expectations that the Fed will continue with its taper campaign next week and what seems to be a complete dismissal of the rising geopolitical tensions in Ukraine. Currency markets have been pretty well contained recently, providing little in the way of fresh directional clues for the yellow metal.
Jon Hilsenrath of The Wall Street Journal expects that the FOMC will hold steady on policy after their two-day meeting next week, scaling back asset purchases to $45 bln per month. As for an eventual rate hike, Hilsenrath believes the Fed will remain purposefully vague………………………………………..Full Article: Source

Gold prices rise after hitting 2.5-month low

Posted on 24 April 2014 by VRS  |  Email |Print

Gold edged up on Wednesday from the 2-1/2 month low it hit in the previous session as a softer tone to equities and the dollar helped arrest its slide, though it remained vulnerable to further losses as investor demand remained slack.
The metal hit its lowest since mid-February on Tuesday after U.S. housing data beat expectations, boosting confidence in the U.S. economic recovery and lifting stock markets, which hurt gold’s appeal as an alternative investment. It found support at its 100-day moving average at $1,277 an ounce, however, and turned higher after mixed euro zone data resulted in a retreat in European shares and the dollar………………………………………..Full Article: Source

Gold needs to hold $1,278: Peter Hug (Video)

Posted on 24 April 2014 by VRS  |  Email |Print

Peter Hug is in studio to talk gold prices, Chinese gold imports as well as where he thinks the metals are headed. “I have not liked this gold market for the past few weeks, I find it very heavy,” he says. “Other than the geopolitical issues in Ukraine, which has caused some support in the market, there have been very little fundamental reasons to be long this market in the short term.”
Hug says that although the Ukraine situation caused buoyancy in the gold market, what it is really missing is physical demand. “It’s almost non-existent in North America and the Chinese just haven’t stepped up to the plate like they did in 2013.”……………………………………….Full Article: Source

Gold prices possibly manipulated for a decade (Video)

Posted on 24 April 2014 by VRS  |  Email |Print

Tune in to Kitco News’ exclusive interview with Rosa Abrantes-Metz, the researcher responsible for creating waves in the gold market earlier this year regarding manipulation in the London gold fix. Metz speaks with Daniela Cambone to discuss the research paper and her findings, which are soon due for release.
“We found that, particularly since 2004, the incidents of large spikes in prices for spot gold has very significantly increased for the PM fixing,” she says. She adds that the spikes are very often the largest of the day, even larger than when New York trading opens, which could raise red flags………………………………………..Full Article: Source

Gold, silver prices weak when there is every reason for it to go up

Posted on 24 April 2014 by VRS  |  Email |Print

The mainstream is on an academically-driven mission to politicize conspiracy theories and lump them all into the same category. While gold and silver manipulation is an ancient conspiracy fact, eyes are wide shut to the general awareness in the face of one revelation after another.
The news cycle is filled with a carefully crafted digestion of tightly controlled sound bites that are presented with no lack of drama, glitter, and spotlights. The mainstream media is perfectly positioned to make theater of the issues that remain esoteric and out of reach. The further the issue is from the majority’s perception, the more black and white will be the acceptance. Belief is emotional, politically framed………………………………………..Full Article: Source

Silver $50: Three years after the “shortage”

Posted on 24 April 2014 by VRS  |  Email |Print

Silver prices hit $50 three years ago this week. It was on April 25, 2011 that silver traded $49.80 per ounce in the New York spot market. That means silver traded $50 somewhere. There was a lot of business going on at that time, but after holding above $49 for the rest of that week, silver prices began to retreat. Fast.
One of the factors that many traders were looking at was the Gold/Silver Ratio. Some believed that silver was much undervalued versus gold, and would recover its historical price parity of about 16 ounces of silver per ounce of gold………………………………………..Full Article: Source

Platinum prices vulnerable to further losses

Posted on 24 April 2014 by VRS  |  Email |Print

Platinum prices could be vulnerable to further losses in the near-term, although metals analysts remain bullish on the white metal in the long-term. Since setting a high on April 14 of $1,471.50 an ounce, basis the New York Mercantile Exchange July contract, platinum prices are down 5%. As of 11:05 a.m. EDT, July platinum traded at $1,399.40.
Much of the gains for platinum came on the continuation of the strike by the Association of Mineworkers and Construction Union against the major South African platinum producers, Anglo American Platinum, Impala Platinum and Lonmin. The strike is in its 13th week………………………………………..Full Article: Source

Is Asian demand enough to pull gold back up?

Posted on 23 April 2014 by VRS  |  Email |Print

Despite the weakening of the gold market last year, the demand for gold in Asia (mainly in China and India) strengthened during 2013. But does Asia still play an important role in determining the price of gold? Also, is the strong demand for the yellow metal in Asia enough to pull back up the price of gold?
Gold is currently trading around $1,300. In comparison, back in early April 2013, gold was close to $1,600 — this represents a roughly 19% drop. The plunge in the price of gold was mostly attributed to the decline in demand for gold as an investment………………………………………..Full Article: Source

How Chinese consumers helped gold prices to slump

Posted on 23 April 2014 by VRS  |  Email |Print

China is becoming much more influential on the global gold market. Its consumers invested heavily in gold jewelry and bars last year to make the country the world’s largest gold market. In the past, investors would predict gold prices based on India’s performance, and now they have to factor in China.
A recent slump in gold price was linked to behavior in China. The country greatly slowed the growth of its money supply, and that slowdown reduced investment in gold. This caused prices to slump, brining about a downturn, much like what happened to copper………………………………………..Full Article: Source

Key differences between investing in gold mutual funds and gold ETFs

Posted on 23 April 2014 by VRS  |  Email |Print

An excellent way to achieve portfolio diversification and stability is to invest in gold. That’s because gold has long been the safe haven investment from the travails of the dollar.
There are several ways to profit from the yellow metal, including investing in gold mutual funds, gold exchange-traded funds (ETFs), junior gold stocks, and gold options and futures………………………………………..Full Article: Source

World’s two largest gold miners in talks to merge

Posted on 23 April 2014 by VRS  |  Email |Print

The world’s two largest gold miners, Barrick and Newmont, have been in talks to merge over the past week, highlighting the difficult environment for miners since shares started falling in 2011. A merger would create a $30bn super-company likely to clear antitrust hurdles because it would only account for 13% of global mine production, well below the 35% threshold Canadian antitrust regulators care about.
At the same time, Goldcorp, Yamana and Agnico-Eagles are all looking to takeover Osisko Mining Corp, a Canadian junior miner. With gold prices down, the margins for these miners continue to be depressed, leaving M&A as one of the few avenues to pursue growth………………………………………..Full Article: Source

Playing gold? Keep an eye on silver

Posted on 23 April 2014 by VRS  |  Email |Print

Gold prices fell to a near-three-week low on Monday amid sharp exchange traded fund outflows, continuing to erode mild gains posted in the first quarter of 2014. For those with an eye on silver the erosion of gold’s recent gains should come as no surprise.
Comex silver has led gold prices since 2011 and it’s not about to give up that leadership role. The lag between silver and gold prices has been reduced but silver continues to lead price developments. Looking at silver gives traders a leading advantage when it comes to anticipating the behavior of gold………………………………………..Full Article: Source

Is this the best contrarian strategy for precious metals investors?

Posted on 23 April 2014 by VRS  |  Email |Print

Often, the word “contrarian” equates to investors attempting to catch a falling knife. You don’t need to look like a used butcher’s block for contrarian strategies to pay off in the long run, however.
Recently, the precious metals markets have been consolidating following a severe decline from all-time highs. If you believe that they will someday regain popularity following another economic decline, political debacle, above average inflation, or other crisis, however, then join the club………………………………………..Full Article: Source

Hedge funds cut gold bets in longest slide of 2014

Posted on 22 April 2014 by VRS  |  Email |Print

Hedge funds lowered bullish bets on gold for a fourth week, the longest streak this year. The net-long position contracted to the lowest since mid-February as speculators sold bullion on signs of accelerating U.S. economic growth. The investors more than doubled bets on lower prices in the past month while reducing wagers on a rally in six of the past seven weeks.
Prices fell 7.5 percent since reaching a six-month high in March after tension in Ukraine eased and U.S. equities rallied to a record. The number of Americans filing for unemployment insurance payments held last week near the lowest level in almost seven years and retail sales in March increased more than economists forecast………………………………………..Full Article: Source

Gold price likely to average $1,225/oz in 2014 as investors shy away: GFMS

Posted on 22 April 2014 by VRS  |  Email |Print

A lack of investment interest in gold is starting to take its toll on the price, with an average of $1,225/oz forecast for 2014 and heading lower in 2015, GFMS said Thursday in its Gold Survey 2014.
The price forecast is 13% lower than the 2013 average of $1,411.23/oz. “The price is expected to post 2014 lows in mid-year, with a fundamentally driven rally thereafter, but this is likely to peter out in early 2015,” the Thomson Reuters/GFMS survey read………………………………………..Full Article: Source

Physical demand will support gold prices

Posted on 22 April 2014 by VRS  |  Email |Print

A recent report from Thomson Reuters GFMS has forecast an average gold price of $1,225 an ounce for 2014. The report has a bearish view on gold due to waning demand from investors.
While this will put pressure on prices, gold prices should find support at around $1,200 an ounce due to physical demand. In fact, a stronger price floor is one of the reasons for recent uptick in M&A activity in the gold mining sector………………………………………..Full Article: Source

Gold volatile around $1,300 as traders weigh U.S. economy, Ukraine turmoil

Posted on 22 April 2014 by VRS  |  Email |Print

Gold prices started the week under the key psychological barrier of $1,300 an ounce but managed to regain some momentum as Asian traders started to jump into the market.
“I think this buying right now is being driven by safe-haven demand as more traders come into the market,” said Victor Thianpiriya, commodity strategist at ANZ Research. “We saw another flare-up between Russia and Ukraine so this move appears to be a knee-jerk reaction.”……………………………………….Full Article: Source

Gold won’t stay in $1300 territory : Gartman

Posted on 22 April 2014 by VRS  |  Email |Print

Gold could easily be $100 higher one year from now, says Dennis Gartman, famed editor of the Gartman Letter. In the short-term, Gartman adds that gold will most likely not remain in its current $1300 territory.
“It can trade $25 to $30 dollars either side of there for a while,” says Gartman in an interview with Kitco News. “A year from now it will be $100 to $150 dollars higher - at worst it is $30 to $50 dollars lower but that is in dollar terms. I think in Yen terms it can be demonstrably higher. If you are going to own gold, own it in Yen terms … The bank of Japan has no choice but to expand the supply of reserves very aggressively.”……………………………………….Full Article: Source

Chinese gold demand to rise by 25pct by 2017

Posted on 22 April 2014 by VRS  |  Email |Print

China is the world’s leading gold nation, having overtaken India last year, and the future is even shinier. Consumer demand will rise 25 per cent to 1,350 metric tonnes by 2017, the London-based World Gold Council said in a report this month.
In 2013, China accounted for 26 per cent of global private-sector gold demand. China is both the world’s largest jewellery and physical bullion investment market, and it has become a key driver of global demand………………………………………..Full Article: Source

Rough diamond prices to bounce back in 2014

Posted on 22 April 2014 by VRS  |  Email |Print

Natural rough diamond prices may rise 5% to 10% in 2014 on recovering demand for jewellery in developed and emerging markets, the head of Belgium’s diamond lobby told Reuters in an interview.
The global market came under pressure in 2013 as a weakening rupee and tight credit conditions suppressed demand from the world’s biggest diamond polishing marker, India. Polished diamond prices increased in all categories in 2014 as trade volumes reached their highest level since early 2011, diamond market watcher Rapaport said………………………………………..Full Article: Source

Why platinum prices are poised to shoot skywards

Posted on 22 April 2014 by VRS  |  Email |Print

In my most recent piece covering the platinum group metals (PGMs), I argued that a backdrop of declining supplies from Russia and South Africa, combined with surging off-take from the automotive industry, looks set to drive palladium prices to the stars.
But while intensifying political tension in Ukraine has propelled the white metal skywards in recent weeks, platinum prices have failed to ignite to the same degree. Indeed, the former’s 13% advance since the start of February contrasts sharply with platinum’s 4% rise………………………………………..Full Article: Source

China’s gold demand stagnates in 2014, a year after gold rush fueled by ‘grannies’

Posted on 17 April 2014 by VRS  |  Email |Print

China’s gold-loving grannies bought enough gold last year to see them through this year, and perhaps longer. Despite prices lower than this time a year ago, when the gold rush in the world’s second-largest economy began, demand is likely to remain level this year, the first time it has not increased since 2002.
“We expect 2014 to be a year of consolidation,” a report from the World Gold Council, the trade group, said Tuesday. “The sudden price drop in 2013 meant some Chinese consumers brought forward jewelry and bar purchases, which may limit growth in demand in 2014.”……………………………………….Full Article: Source

Bulls looking for $1.400 gold this year – can this level be reached?

Posted on 17 April 2014 by VRS  |  Email |Print

Gold will remain a strong safe-haven bet in spite of its recent seesawing price as the Ukraine crisis and expectations of a further pullback in U.S. equities will push the precious metal’s price higher, CNBC’s weekly sentiment survey showed.
Some of those surveyed believe gold has enough momentum to test the year’s highs near $1,400 an ounce last seen in mid-March, as investors strike a more risk-averse stance, shunning equities and rotating instead into safe-haven assets………………………………………..Full Article: Source

Bear market in Silver may be entering its next (and final) down phase

Posted on 17 April 2014 by VRS  |  Email |Print

Critics of price charting charge that charts only show for certain where a market has been. I completely agree. These charges are valid. Yet, understanding where market has been can provide historical context — and this historical context can be useful in anticipating the future. With the above disclaimer in mind, let’s take a look at Silver’s chart history.
Firstly, the monthly price chart shows that Silver remains in a long-term bull trend from the 1932 low. Yet, long-term trends experience sudden and violent counter-trend reactions. Such was the case in the 1980 through 1993 decline during which Silver priced declined by 93%. Silver bulls should know they can go broke being right on the metal’s long-term direction………………………………………..Full Article: Source

Can gold confound the markets and hit $1,400?

Posted on 16 April 2014 by VRS  |  Email |Print

Gold will remain a strong safe-haven bet in spite of its recent seesawing price as the Ukraine crisis and expectations of a further pullback in U.S. equities will push the precious metal’s price higher, CNBC’s weekly sentiment survey showed.
Some of those surveyed believe gold has enough momentum to test the year’s highs near $1,400 an ounce last seen in mid-March, as investors strike a more risk-averse stance, shunning equities and rotating instead into safe-haven assets………………………………………..Full Article: Source

China to witness sustained growth in gold demand: WGC

Posted on 16 April 2014 by VRS  |  Email |Print

In a major report published on Monday by the World Gold Council “China’s gold market: progress and prospects” suggests that private sector demand for gold in China is set to increase from the current level of 1,132 tonnes(t)1 per year to at least 1,350t by 20172.
Following the record level of Chinese demand in 2013, which saw the country become the world’s largest gold market, the report suggests that while 2014 is likely to see consolidation, the succeeding years are likely to see sustained growth. The report examines the factors that have driven China’s rise to become the number one producer and consumer of gold since the market began liberalising in the late 1990s………………………………………..Full Article: Source

Gold miners suffer as bullion price dips

Posted on 16 April 2014 by VRS  |  Email |Print

Gold miners suffered declines as the price of the precious metal sank below its 200-day moving average and began Tuesday on track for its biggest one-day fall since October.
Shares in half a dozen gold producers that trade in New York and Toronto fell in early trade while the S&P/TSX Global Gold Index shed almost 2 per cent on the day to close at 182.86………………………………………..Full Article: Source

Gold drops on Goldman Sach’s bearish outlook

Posted on 16 April 2014 by VRS  |  Email |Print

On April 15 last year, gold prices had corrected sharply, following investment bank Goldman Sachs saying it had a bearish outlook on the commodity. At that time, prices had fallen from $1,600/oz to $1,300/oz in only a few days.
On Tuesday, exactly a year later, gold prices again fell sharply in the foreign market—from $1,330/oz to $1,290/oz—in just a few hours. Again, it was Goldman Sachs that came up with a bearish outlook—it said the metal would hit $1,050/oz by the year-end………………………………………..Full Article: Source

China companies hoard gold for collateral

Posted on 16 April 2014 by VRS  |  Email |Print

Chinese companies may have accumulated up to 1,000 tonnes of gold for use as collateral in financing deals rather than to meet consumer demand in recent years, a new study says.
The report by the World Gold Council said imported bullion was being used “to raise low-cost funds for business investment and speculation”, and was part of the wider growth in shadow banking in China………………………………………..Full Article: Source

Palladium is price king

Posted on 16 April 2014 by VRS  |  Email |Print

Palladium prices have increased 16 percent since the beginning of February. Palladium is the best performer among precious metals since 2011 and it is close to reaching the record levels it recorded in spring 2011.
MetalMiner Lead Analyst Raul De Frutos predicted another strong year for palladium as the South African Miners’ Strike continues and supplies of the metal are bought by automakers and other end users. Russia’s position as the largest producer of the metal worldwide and possible international sanctions against it by other governments also throw its ability to supply the metal into question………………………………………..Full Article: Source

Gold prices 2014: Do what Goldman does, not what it says

Posted on 15 April 2014 by VRS  |  Email |Print

Goldman Sachs must really want to buy more gold; this week it repeated yet again its forecast for gold prices in 2014 to drop to $1,050 an ounce. That might sound contradictory at first, but not when it comes to Goldman.
Jeffrey Currie, the investment bank’s head of commodities research, has repeated his $1,050 target several times since last October, when he declared gold a “slam-dunk sell” along with other precious metals………………………………………..Full Article: Source

Goldman Sachs keeps year-end gold target at $1,050

Posted on 15 April 2014 by VRS  |  Email |Print

Goldman Sachs is keeping its year-end price target for gold at $1,050 an ounce, according to a recent research note — despite a nearly 2% gain in prices for the yellow metal over the past two weeks.
Gold for June delivery was last up $10, or 0.8%, at $1,329 an ounce on the Comex division of the New York Mercantile Exchange. Prices, based on the most-active contracts, were poised for their highest close since March 21………………………………………..Full Article: Source

The current price of gold in April 2014

Posted on 15 April 2014 by VRS  |  Email |Print

Gold is frequently viewed as insurance in moments of economic volatility or worldwide political turmoil. However, in 2013, gold prices dropped 24% against the U.S. dollar, marking gold’s third-worst decline since 1975. The drop turned many investors off to the yellow metal.
But the current price of gold indicates that the precious metal is back. “Gold has rebounded from late December into mid-March, tacking on about $200 an ounce, or nearly 17%,” Money Morning Resource Specialist Peter Krauth said recently………………………………………..Full Article: Source

Gold: In search of a new standard

Posted on 15 April 2014 by VRS  |  Email |Print

The London fix has been in place for almost a century but critics say the system needs reform. To supporters of the gold fixing, its longevity is a mark of its efficiency and utility. To a growing group of critics, however, the benchmark is opaque, old fashioned and vulnerable to market abuse.
Pressure to reform is coming from several directions. Since uncovering evidence of alleged abuse by bankers of the Libor and forex benchmarks, regulators have been scrutinising other big financial benchmarks for signs of weakness……………………………………….Full Article: Source

Here’s what you need to know about today’s gold price surge

Posted on 15 April 2014 by VRS  |  Email |Print

Demand for the lustrous metal has seen gold prices hit a three week high, with geopolitical risks seeing investors move towards the safe-haven asset. Seen as a hedge against inflation, other metals have also spiked as tensions over Ukraine heat up.
Palladium today sees an August 2011 high, as traders worry that US sanctions on Russia and labour strike in South Africa could limit supply………………………………………..Full Article: Source

Will silver break free from the $20 price range?

Posted on 15 April 2014 by VRS  |  Email |Print

The price of silver remained nearly unchanged during last week. On the other hand, gold bounced back following the release of the minutes of the last FOMC meeting. Will silver resume its rally anytime soon? Or will it tumble down? Let’s analyze the recent news that may affect silver and the silver ETFs.
The stagnation of silver is reflected in the little change in demand for silver ETFs such as iShares Silver Trust (SLV). Last week, the Silver Trust’s price inched up by 0.16%………………………………………..Full Article: Source

Platinum may stage short-lived rally to $1,600/oz

Posted on 15 April 2014 by VRS  |  Email |Print

The price of platinum could rally towards $1,600/oz if a 12-week strike over wages in South Africa persisted, but a significant cache of inventory would keep the metal on a tight leash.
Such was the message from Standard Bank which published its quarterly commodity forecast on April 14. It expected gold to bottom this year, iron ore to run into headwinds amid 100 million tonnes of excess supply, while the price of other industrial metals, aluminium amongst them, would be capped………………………………………..Full Article: Source

Gold bears bet wrong again as Fed talk favors bulls: Commodities

Posted on 14 April 2014 by VRS  |  Email |Print

Bearish speculators misjudged gold bets again as the release of Federal Reserve minutes extended this month’s rally in bullion. Money managers cut their net-long position to the lowest since February in the week ended April 8. The minutes of the Fed’s March meeting the next day played down forecasts for higher rates, and gold had its biggest weekly gain in a month.
Speculators misjudged prices in three of the past four weeks. First, investors anticipated accelerating inflation only to see the Fed signal higher borrowing costs in 2015. Then, bets that the gold rally would fizzle were undermined by weak economic reports………………………………………..Full Article: Source

Gold should continue to slide

Posted on 14 April 2014 by VRS  |  Email |Print

Over the first quarter of the year, gold prices benefited primarily from unexpected weakness in the US economy. Abnormally cold winters dampened economic activity, causing 10-year yields to drop 33 basis points to 2.75 per cent, reducing the opportunity cost of holding gold. At the same time, the dollar lost around one per cent, further contributing to higher dollar-denominated gold prices.
Geopolitical events have also been positive for gold prices. The crisis in Ukraine caused investors to seek a safe-haven store of value in case the annexation of Crimea led to military conflict in the region………………………………………..Full Article: Source

Who needs gold really?

Posted on 14 April 2014 by VRS  |  Email |Print

People love to debate, but sadly sometimes it crosses a line and turns argumentative. That’s what is happening right now with the debate over gold. There have been several high-profile articles, most recently in the Wall Street Journal, saying you should eliminate gold as a worthwhile part of your portfolio. Primarily because of this year’s lower price.
Against that idea, many bloggers and private investors, wondering why gold prices have fallen, say that it shouldn’t have dropped. There must be some conspiracy driving down prices when money-printing and our still-weak economy should be driving gold higher………………………………………..Full Article: Source

Why the gold price per ounce is rebounding in 2014

Posted on 14 April 2014 by VRS  |  Email |Print

The latest news regarding the gold price per ounce is looking much better than the end of 2013. In 2013, gold bugs saw the gold price dropping 24% against the U.S. dollar. It was the third-worst decline in the history of gold since the year 1975.
But since the start of the New Year, the gold market has experienced a steady rise in price that shows promising returns in the near future. Specifically, the gold price per ounce has risen about 17% over the last four months alone………………………………………..Full Article: Source

When investment bankers go wrong on Gold, Silver prices predictions

Posted on 14 April 2014 by VRS  |  Email |Print

On average, every quarter we are exposed to yet another price guidance by a mainstream analyst. Such analysts usually reside within a large investment bank. These calls become focal points for a sector and often seem to carry with them some form of self fulfilling prophecy.
Many come directly from the big financial firms and investment houses. They are respected because of their size and brand, which gives them credibility based solely on relative visibility. Goldman-Sachs was too big too fail; it was rescued and given banking status. “When the world’s most intelligent FDIC-backed hedge fund, pardon, bank says the current market structure is no longer necessary to Goldman, people notice, and promptly imitate”………………………………………..Full Article: Source

Silver being left behind in latest gold price surge – but don’t despair!

Posted on 14 April 2014 by VRS  |  Email |Print

Silver investors will have been a little disappointed by the metal’s performance vis-a-vis the gold price following the latter’s gains after the release of the latest U.S. FOMC meeting minutes. The minutes suggested that the low interest rate regime may well continue longer than expected and resulted in a major boost to the stock market and a significant uptick in the gold price.
But it had rather less impact on silver which initially remained stuck below the $20 mark, although this morning’s trade has at last see it move up above this mark. Perhaps European investors are less pessimistic about silver’s investment credentials………………………………………..Full Article: Source

A forecast for gold in 2014

Posted on 11 April 2014 by VRS  |  Email |Print

Gold has been a tempting investment option since 2005, when it gave the highest return of 31%. Over the next three years, gold held its ground and gave a smart return of 9%, 29%, and 43% percent, respectively.
In fact, up until 2011, gold had given a very good return to investors. Dating all the way back to 1973, gold has fetched an average return of 11%. It was only in 2013 the yellow metal took a drastic hit. With the stock market surging, the safe haven metal inevitably took a value hit. So where is gold going next?……………………………………….Full Article: Source

Investing in the oldest commodity

Posted on 11 April 2014 by VRS  |  Email |Print

Forget Precious Metals… It was a commodity long before man started storing wealth in hard assets like gold and silver. And unlike gold and silver, this commodity has a very practical, non-ornamental use that a man with little training and no education can exploit.
Over the course of human history, it’s been the core cause of just about every major war, and to this day, it continues to appreciate. It’s the most basic, most pure form of wealth there is — a source of power and influence for anybody who owns it. It’s also the most recession-proof asset known to man………………………………………….Full Article: Source

Why Asian shoppers should blast gold prices sky high

Posted on 11 April 2014 by VRS  |  Email |Print

A backcloth of rampant investor confidence in the global economic recovery, combined with expectations of Federal Reserve monetary tapering, prompted a monumental shift in global gold demand last year.
The safe-haven metal shed more than 27% in 2013 — the first annual drop for 12 years — as investors flocked to riskier assets such as stocks and out of gold exchange traded funds (ETFs)………………………………………..Full Article: Source

India may hold key to higher gold prices – Mitsubishi Corp

Posted on 11 April 2014 by VRS  |  Email |Print

Japanese trading house Mitsubishi Corporation said in a report published today that they retain a neutral to bearish stance on gold’s performance in the second quarter this year, despite the precious metal’s phenomenon gains in quarter one.
“In the light of gold’s performance in Q1, we raise our 2014 gold price forecast upwards by $20 to $1,265 but we remain essentially neutral to bearish on gold’s prospects for the remainder of the year. We anticipate gold will trade on average at $1,300 in Q2,” wrote analyst Jonathon Butler………………………………………..Full Article: Source

Why I reckon the gold Price will hit $1,425…

Posted on 11 April 2014 by VRS  |  Email |Print

As far as gold goes, I would describe myself as cautiously optimistic. Let’s not beat about the bush. I now have a target of US$1,425 an ounce and I’m hoping to see it by May. My stop is just below $1,275. If I’m wrong, I stand to lose about 30 bucks.
Several factors have led me to this target. First, gold seems to be having one of those years where it follows the seasonal patterns. That is, a strong January with a small sell-off towards the end of the month. Then a strong February with a peak towards the end of the month, followed by a nasty March………………………………………..Full Article: Source

Silver outshines gold at start of year

Posted on 11 April 2014 by VRS  |  Email |Print

The popularity of silver is on the rise with investments in the metal outpacing it’s more illustrious peer gold during the first three months of 2014.
Investments in silver exchange-traded products sharply rose with net purchases worth $354 million in the first three months of the year and the metal “one of the few commodity ETPs” to see inflows every month of the first quarter, London-based ETF Securities said in a statement………………………………………..Full Article: Source

South Africa February platinum output plunges most in two years

Posted on 11 April 2014 by VRS  |  Email |Print

South Africa’s platinum group metals output dropped the most in two years in February after a strike at the world’s three biggest producers crippled output.
Production of PGM metals fell 36 percent in the month, Juan-Pierre Terblanche, a spokesman for Pretoria-based Statistics South Africa, said by phone today. That was the biggest decrease since February 2012, when workers walked out at Impala Platinum Holdings Ltd. for six weeks. The decline caused total mining output to drop 4.8 percent from a year ago………………………………………..Full Article: Source

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