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.
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 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?
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.
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.
According to Jeffrey Nichols, Senior Economic Advisor to Rosland Capital and Managing Director of American Precious Metals Advisors
The IMF said Sunday it expects to record a profit of $ 5.1 billion from the sale of gold in the financial year ended April 30, 2010.
Gold hit a new (nominal) record high on the London fix in dollars on 11 May at $1,222.50/oz. This surpassed December’s peak and means gold has risen in price by 8% since 22 April this year, a period in which other metals have performed poorly; platinum for example was down 2%, palladium down 7% and even certain base metals were down 10%.
By Daniela Cambone of Kitco News
Montreal (Kitco News) — The issue of supposed gold market and price manipulation was battled out Saturday by GATA’s Bill Murphy and CPM’s Jeffrey Christian in a much anticipated debate.
By Terry Wooten, Interviewed By: Daniela Cambone of Kitco News
New York — (Kitco News) –Gold has become a second haven for investors in the current Greek -European debt crisis and the International Monetary Fund and central banks appear to have little appetite to sell the metal, according to George Gero, vice president with RBC Capital Markets Global Futures.
The Indian government has said that the country has become the 10th largest holder of gold in the world after it purchased 200 tonnes of the precious metal from the International Monetary Fund (IMF) last year.
The International Monetary (IMF) has sold around 18.5 tonnes of gold in March this year without drawing much attention from any quarters.
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 Geena Paul
LONDON : Remember the impact of Reserve Bank of India’s decision to buy 200 tonnes of gold from International Monetary Fund (IMF) in November 2009 had on the price of yellow metal? That time gold prices soared to new heights because the world feared that India is shifting its foreign reserves to gold expecting the dollar to crash.
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.
Some potentially interesting central bank data came from the latest edition of the IMF’s International Financial Statistics. The Bank for International Settlements’ gold holdings, which include the bank’s own gold and also gold held on behalf of other clients, rose from a net 156t in December to 328t in January, says VM Group research for Fortis Bank Nederland – Metals Monthly April 2010.
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.
By Tyler Durden
In an exclusive report, Kitco has just released yet another stunner in the world of precious metals. It turns out that Eric Sprott has attempted to purchase gold from the IMF, according to information provided to Kitco by Frank Holmes, CEO of US Global Investors.
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.
n an interview with CNBC-TV18, G Chandrashekar, Associate Editor, The Hindu Business Line gave his strategy on gold.
Gold
Gold went from as low as $1,119/oz up to $1,128/oz in US trading before closing with a gain of 0.32%. It has range traded from $1,120/oz to $1,125/oz in Asian and European trading this morning. Gold is currently trading at $1,123/oz and in Euro and GBP terms, at €827/oz and £741/oz respectively.
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.
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.
A leading mutual fund in India has announced the launch of a unique gold savings fund which the company says will boost gold investment in exchanged traded funds (ETFs) the country.
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 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.
By Jon Nadler
Bullion prices fell by nearly a further 1% below their afternoon New York closing levels during overnight Asian trading, as buyers became scarce amid the worsening Greek credit situation and the US dollar’s rise to the 81 mark on the trade-weighted index.
NEW DELHI : Will India do it again? That is the question being asked by investors and bullion market analysts now.
MUMBAI: Will India go in for buying the 191 tonnes of gold that the International Monetary Fund (IMF) plans to sell soon? Yes, India is a potential buyer for the remaining stock of IMF gold that is to be sold in the open bullion market, analysts said on Wednesday.
By Geena Paul
NEW YORK : Again, the bullion market is abuzz with talks that the International Monetary Fund (IMF) is ready to offload its 191 tonnes of gold in the market. This means the IMF will sell its gold to one of the official holders of the metal after considering bids by all interested parties.
BEIJING : China Gold Association said Tuesday it is not feasible for China to buy the IMF bullion, as any purchase or even intent to do so would trigger market speculation and volatility.
By David Lew
Will China miss buying gold from the International Monetary Fund (IMF)? It looks that China will miss the bus in buying gold from IMF as the latter is going ahead to sell 191 tonnes of gold soon in the open bullion market.
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