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Commodities Briefing - Category | Bullion/Gold more

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

Gold price near two-week high amid Ukraine tensions

Posted on 10 April 2014 by VRS  |  Email |Print

Gold was trading near its highest in two weeks on Wednesday, bolstered by signs of increasing demand in China and as rising tensions over Ukraine burnished its safe-haven appeal.
But investors continued to pull money out of gold-backed exchange-traded funds, raising the risk that price gains could be short lived. Spot gold had risen 0.2 percent to $1,311.10 an ounce by 0646 GMT, after gaining 0.9 percent in the previous session. The metal hit a two-week high of $1,314.43 on Tuesday………………………………………..Full Article: Source

Gold prices 2014: What’s next after Tuesday’s 2-week high

Posted on 10 April 2014 by VRS  |  Email |Print

June gold finished the day up $10.60 at $1,308.90 an ounce. Spot gold ended the session on a favorable note as well, up $12 at $1,309.50. The yellow metal is up 1.1% in April, and up 8% year to date.
Stoking yellow metal gains Tuesday was a weaker dollar and troubling headlines out of politically unstable Ukraine. Gold, a safe-haven investment, moves when market uncertainty and geopolitical tensions increase………………………………………..Full Article: Source

What’s going on with silver?

Posted on 10 April 2014 by VRS  |  Email |Print

According to many analysts surveyed at the beginning of 2014, this year was not supposed to be a good one for silver. In fact, in January we reported that many silver forecasts saw the silver price averaging around $21 per ounce. We are now in a mindset where any activity above $20 per ounce is greeted with positivity and chatter about a price recovery.
Is this what we have to look forward to? Pop-ups above $20? We take a look at what’s been going on this year and a couple of the issues affecting the price of silver………………………………………..Full Article: Source

Monetary collapse and silver price not so orderly rise

Posted on 10 April 2014 by VRS  |  Email |Print

We are about to see the end of our current international monetary system. Based on much of the evidence that I have written about previously, this appears to be a certainty. The systematic build-up of this current monetary order went together with the gradual phasing out of silver from the monetary order.
This system, by its very nature, has been diverting value away from silver. To understand this, just imagine that silver was actually used as currency (like the paper Dollar is currently used); we would then have much less silver available for sale in the current silver market. Based on the demand and supply economic model, this would then mean that the silver price would rise significantly………………………………………..Full Article: Source

The precious metals that are primed for takeoff

Posted on 10 April 2014 by VRS  |  Email |Print

Move over, gold. Palladium is ready to shine. The precious metal, used mostly to make catalytic converters that clean up emissions from combustion engines in cars, has seen a 7-percent jump in futures prices year-to-date. And analysts see further upside for the commodity, thanks to squeezed supply and growing automobile demand.
Trading around $782 per ounce, palladium is mainly produced in South Africa and Russia. Ongoing strikes by miners in South Africa and unresolved tension surrounding sanctions on Russia could drive up the prices by triggering supply constraints………………………………………..Full Article: Source

Gold price lift matter of time with Asian demand - Holmes

Posted on 09 April 2014 by VRS  |  Email |Print

The demand for the precious metal in Asia is truly phenomenal! In smaller countries like Indonesia, Thailand and Vietnam, consumption of gold totaled 300 tonnes in 2013, and according to Bloomberg, in 2014 mainland Chinese buyers purchased a total of 125 tonnes in February (including scrap). This number tops the 102.6 tonnes purchased in January and 97.1 tonnes purchased a year ago.
As I wrote about in February, Switzerland plays a role in the movement of physical gold into Asia as well. Home to many of the big gold refiners, Switzerland released monthly gold trade data this year for the first time in over 30 years, with the report showing that 80 percent of shipments went straight into Asia………………………………………..Full Article: Source

Precious metals trade: Dubai widens its role

Posted on 09 April 2014 by VRS  |  Email |Print

Dubai’s gold trade volumes should continue to grow so long as the emerging middle classes in Asia continue to grow and prosper, forecasts John Hathaway, US-based analyst and portfolio manager for Tocqueville Asset Management.
“Dubai is a distribution point to all parts of Asia and that level of flow is dependent on the prosperity of the emerging middle classes in various Asian economies. So, as long as that continues I can’t see anything stopping that flow,” added Hathaway………………………………………..Full Article: Source

Second quarter will not be a great time for gold prices

Posted on 08 April 2014 by VRS  |  Email |Print

Commodity analysts are expecting gold to remain weak in the next three months as seasonal factors, an improving U.S. economy and lack of bullish momentum drag prices down.
Ole Hansen, head of commodity strategy at Saxo Bank, pointed out that the second quarter is usually a quiet time for gold, but this year traders could be more sensitive to increased weakness in the next three months, especially after a strong first quarter………………………………………..Full Article: Source

Schiff: Rising inflation will drive up gold price

Posted on 08 April 2014 by VRS  |  Email |Print

Gold may have hit a six-week low last week, but Peter Schiff, CEO of Euro Pacific Capital, thinks it will rebound with a vengeance as inflation reappears. “Central banks around the world, particularly the U.S., are going to continue to create more and more inflation,” Schiff told “America’s Forum” on Newsmax TV.
“In fact, now the central bankers don’t even pretend they’re fighting inflation. They are fighting to create inflation. They’re telling us that inflation is a good thing, that the absence of inflation is a problem that the Fed has to solve.”……………………………………….Full Article: Source

Lack of interest sees gold price back below $1,300

Posted on 08 April 2014 by VRS  |  Email |Print

The price of gold fell back below the 1,300 an ounce level after traders booked profits on Friday’s brief post US jobs-numbers rally. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery in late afternoon trade exchanged hands for $1,296.90 an ounce, down close to $7 compared to Friday’s close.
Volume was noticeably thin with 70,000 contracts traded, compared to average daily volumes on the exchange of around 200,000. Reuters quotes Jonathan Jossen, a COMEX gold options floor trader, as saying “investors are not taking any interest in the precious metals right now, and gold and silver are definitely in tight trading ranges.”……………………………………….Full Article: Source

India’s gold imports rise in March

Posted on 08 April 2014 by VRS  |  Email |Print

Offering a space of breath to the Indian jewelers, the latest report revealed that the gold import in India surged nearly 50 tones in March, amid the RBI’s import restrictions. Since the RBI’s infliction of Gold import norms last year, gold import in the country was found to fade by volume, thereby creating drastic supply crunch for jewelries across the country.
The gold imported through illegal means have also increased due to the tightening of rules and enforcement of 10 % import duty because of which gold smugglers started experimenting on bizarre methods to sneak gold to India………………………………………..Full Article: Source

Dubai leading global hub for bullion trade with $75bln in 2013

Posted on 08 April 2014 by VRS  |  Email |Print

Dubai’s position as leading global bullion centre confirmed with almost 40% share of global gold trade volumes; a trade volume increase of 73% in comparison with 2012. Ahmed Bin Sulayem, Executive Chairman, DMCC, said: Dubai has quickly emerged as the leading global hub for the precious metals trade.
As a result of DMCC’s continuous efforts to realise the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, the Emirate has risen as the destination for global precious metals trading. In 2013 almost 40 per cent of the world’s physical gold trade came through Dubai and the value of total gold traded through Dubai grew to US $75 billion, compared to US $6 billion in 2003………………………………………..Full Article: Source

Will silver’s rally last?

Posted on 08 April 2014 by VRS  |  Email |Print

The price of silver changed direction and rallied during last week. Is silver bound to recover anytime soon? Let’s examine the recent news that may affect silver and the silver ETFs.
The modest recovery of silver has reflected in the rise in demand for silver ETFs such as iShares Silver Trust (SLV). During the previous week, the Silver Trust’s price inched up by 0.5%. Conversely, other Silver investments such as Silver Wheaton (SLW) continued to fall and shed 1.6% from its value………………………………………..Full Article: Source

Speculators mistime bearish gold bets before rally: Commodities

Posted on 07 April 2014 by VRS  |  Email |Print

Hedge funds and other speculators misjudged gold prices for a second time in three weeks. Just after the investors sold bullion holdings for a second consecutive week, a disappointing U.S. jobs report sparked the biggest rally in prices since mid-March. Their funds fared better in the five preceding weeks, correctly adjusting wagers 80 percent of the time.
Investors who were anticipating gold’s 2014 rebound would fizzle had reason to be confident at the start of last week. As U.S. equities surged to a record, bullion slid to a seven-week low on April 1 as fewer traders saw the appeal of the haven asset………………………………………..Full Article: Source

Second quarter will not be a great time for gold prices – Analysts

Posted on 07 April 2014 by VRS  |  Email |Print

Commodity analysts are expecting gold to remain weak in the next three months as seasonal factors, an improving U.S. economy and lack of bullish momentum drag prices down.
Ole Hansen, head of commodity strategy at Saxo Bank, pointed out that the second quarter is usually a quiet time for gold, but this year traders could be more sensitive to increased weakness in the next three months, especially after a strong first quarter………………………………………..Full Article: Source

China gold cuts costs to offset lower prices

Posted on 07 April 2014 by VRS  |  Email |Print

China Gold International Resources, the sole overseas listed arm of the nation’s largest gold miner, China National Gold Group, will raise output, cut production costs and scout for acquisition opportunities amid lower bullion prices.
The Hong Kong and Toronto-listed state-backed company would lower costs by improving metals recovery ratios, material procurement cost and advanced production techniques, said Song Xin, who was promoted from chief executive to chairman of China Gold in February………………………………………..Full Article: Source

Robert Cohen’s 3 drivers for the gold price in 2014

Posted on 07 April 2014 by VRS  |  Email |Print

The gold price is driven by global liquidity, fed by international balance-sheet expansions, impacted by trade deficits built up in countries like China. Over the last 40 years, one ounce of gold typically bought 15 barrels of West Texas Intermediate oil. That ratio has been knocked down to about 13:1.
Any significant catalyst that will erode fiat money purchasing power, such as falling industrial production, more unemployment or broader trade deficits, could take gold much higher………………………………………..Full Article: Source

Top tips on selling your old gold

Posted on 07 April 2014 by VRS  |  Email |Print

Gold bullion prices have had a spectacular run in the past few years but the party’s over, at least for the time being. The year 2013 saw the precious metal record its biggest annual loss in decades. For the record: Gold hit an all time high on September 6, 2011 when it touched $1,921.50 an ounce. Last week it was at $1,293.80.
So is that it then? Is there now no point in digging out old, unfashionable, unworn or simply broken jewellery to raise a bit of cash? Should we leave it in the box where great-grandma stored it in the last century?……………………………………….Full Article: Source

Gold unlikely to see upside above $1320/Oz: Saxo Bank

Posted on 07 April 2014 by VRS  |  Email |Print

Gold prices witnessed a recovery towards weekend as US job growth data was less than expected and boosting safe haven demand for gold. US gold futures for June delivery rose 1.5% to settle at $1303.50 an ounce. Payrolls rose 192,000 in March which was below market expectations. With Fed Reserve indicating continuation of stimulus measures, gold stands supported at current levels.
Gold prices are unlikely to see any upside above $1320 an ounce in the near future due to lack of bullish news to drive the markets, according to Ole S Hansen, Head of Commodity Strategy at Saxo Bank………………………………………..Full Article: Source

Can gold drop below $1000?

Posted on 07 April 2014 by VRS  |  Email |Print

All I have been hearing of late is how gold will never see lower than the 2013 lows. People say it is simply not possible since it would be lower than its production cost. And, my answer to them is “so what?” Yes . . . so what?
Are you going to tell me that producers will not stop mining gold? And, again, if so, so what? Won’t that then make gold more scarce since less of it will be available, as mining will significantly slow, and then maybe we see a long term bottom?……………………………………….Full Article: Source

Who needs gold really?

Posted on 07 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………………………………………..Full Article: Source

Hedge funds get gold timing wrong on rebound: Commodities

Posted on 07 April 2014 by VRS  |  Email |Print

Hedge funds and other speculators misjudged gold prices for a second time in three weeks. Just after the investors sold bullion holdings for a second consecutive week, a disappointing U.S. jobs report sparked the biggest rally in prices since mid-March.
Their funds fared better in the five preceding weeks, correctly adjusting wagers 80 percent of the time. Investors who were anticipating gold’s 2014 rebound would fizzle had reason to be confident at the start of last week. As U.S. equities surged to a record, bullion slid to a seven-week low on April 1 as fewer traders saw the appeal of the haven asset………………………………………..Full Article: Source

Gold premiums seen falling further on any ease in trade curbs

Posted on 04 April 2014 by VRS  |  Email |Print

Gold premiums in India are expected to fall from current levels of about $30 an ounce after the Reserve Bank of India (RBI) indicated it is considering removing some of the curbs to trade that have crippled imports.
India, the second biggest consumer of gold after China, last year imposed a record 10 percent import duty on the metal and said a fifth of all shipments should be re-exported as finished product to help narrow its current account deficit (CAD)………………………………Full Article: Source

Gold poised for longest weekly slump since September before data

Posted on 04 April 2014 by VRS  |  Email |Print

Gold headed for a third weekly decline in the longest run of such losses since September before U.S. economic data that may show the labor market improved, backing the case for reduced monetary stimulus.
Bullion for immediate delivery fell as much as 0.2 percent to $1,284.27 an ounce, and traded at $1,284.61 by 9:28 a.m. in Singapore, declining for a second day, according to Bloomberg generic pricing. The metal is down 0.8 percent this week after sliding to $1,277.79 on April 1, the lowest since Feb. 11………………………………Full Article: Source

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