Bullion
Gold prices remained strong last week as well as safe haven demand for the metal continued to underpin the strength in the counter. Weaker than expected economic data gave rise to skepticism regarding the economic recovery in the US and has resulted in it reducing the demand for riskier assets.
Commenting on the outlook for bullions, base metals and energy segments, broking house SMC said the following:
By Richard Mills
As a general rule, the most successful man in life is the man who has the best information in the time of the ancient Babylonians – long before the periodic table – there were seven sacred metals: gold, silver, copper, iron, tin, lead and mercury.
BULLION
Gold prices were trading in tight ranges through out the session on Wednesday but moved against the conventional market wisdom that the yellow metal shares a positive correlation with the European currency. The market gained along with the US dollar initially yesterday, ahead of the US Fed Chairman’s testimony before the congress.
By Peter Krauth
When I recently predicted that the long-term trends were in place to send gold to $5,000 an ounce, I was stunned by all the attention that my forecast received.
BULLION
Gold prices were trading with marginal losses on the penultimate trading day of the week, but remained between the tight range it has been for the past one week. Mixed economic signals from US failed to provide the markets with a definite direction and prices gyrated amidst uncertainty.
BULLION
Gold seems to be having a difficult time in the market as demand for its quality as a safe haven investment has come down. The general market sentiments remain to be murky, yet buying in gold looks to be falling. The most actively traded contract, for August delivery, was down $1.70, at $1,193.40 an ounce on the Comex division of the New York Mercantile Exchange.
BULLION
Precious metals gave away gains on the penultimate trading day of the week and fell towards multi-week lows as weaker than expected economic data from USA and China rocked the markets.
BULLION
Precious metals gave away gains on the penultimate trading day of the week and fell towards multi-week lows as weaker than expected economic data from USA and China rocked the markets.
BULLION
Gold and silver prices were trading with losses initially during the day as rising stock markets and better investor sentiment kept precious metals out of the investment purview.
BULLION
Gold prices have fallen from near highs for the second Monday as selling pressure from long liquidations continued to emerge at higher levels. Gold fell the most in a week as investors sold the metal after it climbed above $1260 levels in the spot market.
BULLION
Prices of gold seem to be well supported as investors continued to buy the yellow metal at the slightest sign of uncertainty. Buying in the metals returned as it took prices higher on the final trading day last week as economic data from US was lesser than expected. The most-actively traded contract, for August delivery, rose $10.30, or 0.8%, to settle at $1,256.20 an ounce on the Comex division of the New York Mercantile Exchange.
BULLION
Gold prices, after falling from a record high on the first trading day of the week, settled with meager gains on Tuesday, Gold prices had fallen as long liquidations at higher levels weighed on the metal, resulting in it giving away around $20. The jump in stock markets after the decision of China to revalue its currency against the US dollar and allow more room for the Yuan increased the risk appetite of investors.
BULLION
Precious metals climbed out of the range it had been trading during most of the week and moved up, reaching up near towards the all time high on the penultimate trading day as safe haven demand for the metal returned. The gains in the yellow metal also came when the US currency fell against its European counterpart.
GLDmcx Aug: While above 18640 prices could move up and find resistance near 18770, which if holds can drag prices lower again. Once above, expect short covering towards 18840-18900 levels. If unable to hold 18640 expect prices to drift towards 18600/18540 levels. A direct fall below 18540 would discourage buyers, exposing 18200.
GOLDmcxAUG
Res: 18770/18840 Sup: 18600/18540
BULLION
Gold and silver prices were trading with gains on Tuesday amidst a weaker US dollar. The inverse relation that the yellow metal conventionally shares with the US currency seems to have returned as gold prices gained when demand for an alternative investment to the US currency lifted the sentiment. Better risk appetite following rising stock markets and improving economic activity helped the Euro hold on to its gains against the US dollar.
GLDmcx Aug: Expects to move up and find resistance near 18670 for a fall towards 18540 initially followed by 18460/18380 levels.Unexpected rallies above 18690 may negate the view and take prices higher towards 18750/18800 levels.
GOLDmcxAUG
Res: 18670/18750 Sup: 18540/18460
BULLION
Improving risk appetite among investors and recovering equity markets have resulted in diversion of funds from the yellow metal. Gold prices slid on the first trading day of the week. The strength in the European currency against its American counterpart also begot selling in gold.
The brokerage house SMC Research gave the following outlook for Bullions, Metals and Energy:
BULLION
Gold prices gave away gains and slid for the second consecutive session on Thursday as rise in Euro against the US dollar persuaded the yellow metal to turn down. A German court decided to reject an appeal to prohibit the country from helping the ailed nations in the Euro zone, which also gave strength to the European currency.
By Julian D.W. Phillips
When gold price are slammed down in one day, as they were on Friday by more than $20 it is certain that some sort of concerted action was taken to push the price down. Fingers point at the leading U.S. banks. But then later on Friday, before its close, there came a huge surge in buying that took the gold price up to $1,220 from $1,192. This pressure equaled or bettered the downward pressures seen in that day. This bodes well this week for pressures between these two blocs to continue or even heighten until the gold price breaks one way or the other. It’s time to look at who is controlling the gold market?
BULLION
Prices of gold extended its gains from the previous trading session and climbed towards record highs on the second trading day of the week safe haven demand supported the sentiments in the market.
BULLION
Gold prices had stooped down a bit initially during the first trading day of the week but erased the earlier losses and jumped near towards the record high following renewed concerns about the European Financial crisis. The spread of the financial contagion remains to a strong source of weakness for the markets and the news of Hungary falling into debt problems seem to have realized the fear.
Bullion
Gold prices are well supported by the ongoing crisis in the European Union, with Euro falling continuously against the US dollar. Also weighing down the European currency was the unemployment rate that climbed to 10.1 percent, the highest since 19981.
BULLION
Gold prices benefited yet again from its safe haven buying that returned after the release of the US economic data which came out with a lesser than expected figure. A government report showed that the Non-Farm payrolls gained by 431000 as opposed to the expectation of a 540000 increase last month.
BULLION
Gold and silver prices seem to have returned to the tune of the conventional market wisdom with the yellow metal erasing some of its earlier gains amidst a rising US dollar. Investors’ speculation that positive US data releases recently and the expectation of a strong payrolls data will help revive the equity markets and reduce the demand for gold, resulting in it weighing on the sentiments and taking prices down.
By Daniel Wilson
BEIJING: In the last few months, speculation has been rife in bullion markets around the world that China will be buying the gold that the International Monetary Fund (IMF) is disposing of these days. But is China buying the IMF gold? It looks, despite the hype about Chinese plans to amass gold reserves in place of the US dollar, the dragon country is not in a mood to buy gold from IMF.
Down side rally could be comes in bullion,at evening time: srk advisory
Bullion
Gold and silver prices remained buoyed on the first trading day of the week despite the main markets of US and UK being closed on holidays as European debt crisis continued to lend support to precious metals. The rating cut of Spain to AA+ from the previous AAA status by the Fitch credit rating agency has affirmed the fears of debt contagion in the Euro zone and in turn driving investors towards the yellow metal because of its safe haven appeal.
London-based CD Capital Founder Carmel Daniele has seen these sorts of market jitters before, and insists there is little to worry about in this exclusive interview with The Gold Report. “Most people sell in May and go away. It happens every year,” she says. The self-assured Daniele launched the CD Private Equity Natural Resources Fund in 2006 to tap into what she calls a commodity super-cycle. She says that despite a recent dip in the copper price, the super-cycle is in good form, and she envisages gold nearing $2,000 within 12 months. She also recommends you take advantage with some promising junior gold plays in Colombia.
Core Durable Goods Orders m/m data will be released tonight which measures Change in the total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items. It will have a minor impact on US dollar which will affect base metal and bullion prices.
Loading ...