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Congo is one of the copper giants in the world and certain taxes levied by the government for copper exports have been worrying the exporters for quite sometime. But, things are changing fast now.

By Zhang Fengming
Chins’s consumer gold demand is expected to rise in double digits annually as people get richer, said a senior manager at the World Gold Council today.

The People’s Bank of China announced on 20 June that it would allow the yuan to appreciate against the dollar once more. This should not have surprised anyone in the market, since the PBOC has been saying for months it would do this.

Basant Vaid, senior research analyst, BonanzaCommodity Brokers, commenting on the copper outlook said, “Copper prices opened with an upside gap and traded higher since then. Copper prices surged along with the other metals in the complex on the back of the news that China in a weekend pledge allowed its currency to make more flexible. It was seen as positive signal for the Yuan and in turn as the more purchasing power in the hands of largest metal consumer of the world. This turned Chinese currency to a highest level since July 2005.“

By Jon Nadler
Calmer conditions returned to the markets overnight as several factors conspired to divert investors from the panicky behavior they exhibited earlier in the week. The euro strengthened a tad, rising above the 1.20 mark once again, the US dollar declined a little, the Nikkei index eked out a 103 point gain, and thus profit-takers regained the upper hand in bullion markets as Thursday’s action got underway overseas.

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.

In an interview with Bloomberg,Marc Faber,give view on gold.

According to Jeffrey Nichols, Senior Economic Advisor to Rosland Capital and Managing Director of American Precious Metals Advisors

China is unlikely to allow the yuan to appreciate against the dollar this year because Europe’s debt crisis has pushed the euro lower, according to Marc Faber, says a report from China Post.

The International Monetary (IMF) has sold around 18.5 tonnes of gold in March this year without drawing much attention from any quarters.

Is the Chinese economy overheated and the dragon country on the verge of collapse? Noted global investor and economic analyst Marc Faber says the Chinese economy might crash within one year. Faber, the publisher of the Gloom, Boom & Doom report, has predicted that the China is going to collapse in the wake of imminent property bubble and declining commodity and stock market prices.

Yes, you have heard about the Chinese move to rein in the realty prices by barring people from buying more than one house. But, investors may not be aware that if Chinese realty falls then the bullion market will gain some benefit from it because if the huge Chinese economy is hit then investors will panic and rush to park their money in gold.

By Adrian Ash
Gold held near a 4-month high vs. the Dollar early in London on Wednesday, trading above $1162 an ounce as the US currency hit a 12-month hit against the Euro on fresh political wrangling over the Greek government bail-out.

By Daniela Cambone Of Kitco News
Montreal (Kitco News) — People who believed China would be the buyer of the IMF’s 191.3 tonnes of gold hadn’t really thought it through, said George Milling-Stanley, head of government affairs for the World Gold Council.

By Chuck Butler
Good day, and welcome to Tuesday. The Cardinals brought home a winner for the huge crowds down at Busch Stadium yesterday. As I mentioned, opening day is holiday around St. Louis, and Albert Pujols and his teammates gave the fans a terrific show. Currency traders seemed to take the day off yesterday along with thousands of Cardinal fans. The dollar drifted through the day, and continued to trade sideways in overnight trading in Asia.

By David Lew
The global gold market turned into an upbeat mood two months back when the International Monetary Fund (IMF) announced that it would be selling an additional 191 tonnes of gold in the open market.

Gold is glittering in China, the largest producer and second biggest consumer of the yellow metal in the world. There is a gold buying frenzy across China that the yellow metal is becoming the best investment bet in the country.

By Dan Norcini
Gold is performing admirably given the extreme volatility in the currency markets. After yesterday’s drop lower in the Euro coming on the heels of Trichet’s comments about IMF involvement with Greece, gold held very steady as more and more it seems as if it has taken on a solid role as an alternative currency in the minds of Europeans. That cannot but help to steady it and provide a solid base of support beneath the market. As the Euro staged a sharp rally this morning, gold then shot higher recapturing the $1,100 level as startled bears ran for cover.

Chinese crude oil supplies from Iran seems to be squeezing as the Asian dragon’s crude oil imports from its third largest supplier, Iran, shrank by nearly 40% in the first 2 months of 2010 against the corresponding period last year.

Monetary tightening in China continues to be the primary focus of the copper market, given that loose stimulus lending in 2009 soaked up much of the copper surplus in 2009, says Metals Monthly 2010, a report from VM Group research for Fortis Bank Nederland.

Precious metals are range-bound. There is no data due for release today; we therefore expect trade to remain range-bound.
Our strategy for gold is unchanged: buy dips and sell rallies.

By Peter Schiff
In his latest weekly New York Times column, Nobel Prize-winning economist Paul Krugman put forward arguments that were so nonsensical that the award committee should ask for its medal back.

By Dan Denning
Australia didn’t miss out on the first part of the Global Financial Crisis and it’s not going to miss out on the second part. The second part is coming. And it could be worse than the first. That, in a nutshell, is the message of today’s Daily Reckoning.

China made headlines last week after Yi Gang, director of China’s State Administration of Foreign Exchange, said that using gold to diversify its foreign-exchange reserves is limited because of the metal’s poor returns over the past 30 years. The comments suggested that China’s gold purchases overall will be limited for now.

Gold prices rose back above USD 1,100 an ounce in Europe on Monday as concern over sovereign debt fuelled buying of the precious metal as a haven from risk, with technical factors also supporting the market.

By Steve Sjuggerud
“A few factors limit our ability to increase [our] Gold Investment,” said China’s chief foreign exchange manager, Yi Gang, in a speech this week.

By Julian D.W. Phillips
We are hearing from some sources that the gold price will tackle previous highs then fall to $850. We did hear this before gold rose to $1,100, with many believing that then there would be a correction to $850, but it didn’t happen then either. What happened was that gold held its ground then broke upwards through resistance to set itself on track for higher prices.

By Jon Nadler
Gold prices fell to a one-week low of under $1115.00 per ounce overnight as the US dollar continued its recent climb and reached 80.74 on the trade-weighted index. The rallies in risk assets came under pressure as perception resurfaced that this type of speculation has been largely underpinned by generous liquidity and ultra-low interest rate and that it has a finite shelf-life in the big scheme of things. The euro also continued under selling pressure early this morning as the Greek situation appears to remain without an obvious and/or imminent solution. The common currency was last seen trading near 1.354 against the greenback ahead of the closed-door meeting between US and Greek leaders today.

By Dan Norcini
Gold put in an impressive performance today from where I sit battling back from a barrage of selling linked to the ridiculous story circulating around the market today that China was not interested in buying gold. That initially emboldened the raiders at the Comex and sent the lemmings packing and heading for the hills before saner minds prevailed who began buying into the weakness. The result was a strong bounce from important technical support near the $1,110 level

By Julian D.W. Phillips
The piece we wrote on gold de-coupling from the $:€ exchange rate proved absolutely correct. The action of the last week has shown that as gold rose strongly in the € in the pound and is moving up in the $ alongside most currencies. More than that, market commentators are now mentioning this too. But this action involves far more than these two main currencies.

By Sol Palha
The dollar has rallied very strongly easily taking out the lower end of the targets we projected several months ago. It almost closed above 81 on a monthly basis. Had it done this, it would have made the outlook even more bullish. The dollar has gone on to put in series of new 9 month highs and thus by contrast one would have expected Gold and the other precious metals to do the opposite. However, this has not taken place.

By Dr Jeffrey Lewis
No longer favoring the US dollar, the Chinese government increased its holdings of gold from 600 tonnes in 2003 to 1,054 tonnes in 2009. This month, rumors began circulating that the Chinese government may indeed purchase from the IMF 191.3 tonnes of gold.