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bsiong
    07-Sep-2012 22:25  
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Morning Gold & Silver Market Report, 9/7/2012

By  Brandi BrundidgeSeptember 7, 2012


PRECIOUS METALS PRICES RISE ON WEAK JOBS REPORT   

Precious Metals prices were reacting to this morning’s United States nonfarm jobs report that showed96,000 jobs were created in August. The number was disappointing because it fell short of the 125,000 that had been expected.  This news was bullish for Gold  and boosted the possibility of financial stimulus from the Federal Reserve. The expectation is that the Federal Reserve will announce the next round of quantitative easing, better known as QE3, this year. Jeremy Friesen at Societe Generale in Hong Kong said he believes the Fed will act possibly this month. He said, “We think the payrolls number will be very poor, which should be positive for Gold, as it would confirm that the Fed will do something at the next FOMC (Federal Open Market Committee) meeting.”

The European Central Bank announced Thursday its intention to rebuild the eurozone with new stimulus measures by purchasing sovereign bonds. Alex Merk at Merk Investments commented on how the market may be more interested in the euro. “Now, I’m not going to pretend that everything is going to be great in the eurozone, but it (the ECB’s measures ) does take off the so called ‘tail risks,’ it makes the euro less risky.” On a positive note, Merk added, “We think the euro is going to do well in the years to come. … It is becoming a different currency with different dynamics in place.”

At 9:17 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,729.30, Up $24.70.
  • Silver, $33.32, Up $0.65.
 
 
bsiong
    07-Sep-2012 16:56  
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Gold retreats as U.S. jobs data dims stimulus hopes



 


* Gold, silver fall after data tempers easing hopes

* Spot gold may drop to $1,680/oz - technicals

* Coming up: U.S. non-farm payrolls data, August 1230 GMT

By Rujun Shen

SINGAPORE, Sept 7 (Reuters) - Gold eased on Friday from a near six-month high hit in the previous session as upbeat data from a struggling U.S. labour market dimmed hopes for more stimulus measures from the Federal Reserve.

Bullion had rushed to its loftiest since early March in the previous session after the European Central Bank unveiled a new and potentially unlimited bond purchase plan to lower borrowing costs of debt-laden nations, in the latest effort to fight the euro zone debt crisis.

But now the market focus is riveted on the key U.S. non-farm payrolls data scheduled for release later in the day, especially after payrolls processor ADP said the U.S. private sector added the most jobs in August since March.

If the ADP figures foretell a strong U.S. August payrolls report it could quash the case for a third round of quantitative easing, also known as QE3, by the Federal Reserve.

" There is definitely long liquidation going on after the ADP number," said a Singapore-based trader. " People spent the whole of yesterday buying gold and it is a bit overcooked up here. Now we have good data and the market is struggling to see how it can get a bad payrolls data."

Central bank cash printing raises the inflation outlook and adds to gold's attraction as a hedge against rising prices.

Spot gold had fallen half a percent to $1,692.86 per ounce by 0622 GMT, off $1,712.91 hit on Thursday - the highest since March 12. Bullion was on course for a 0.1 percent rise for the week after two consecutive weekly gains.

U.S. gold dropped 0.6 percent to $1,695.30.

Technical analysis suggested spot gold could retrace to $1,680 per ounce during the day, Reuters market analyst Wang Tao said.

But some analysts believe gold still has room to rise as the U.S. labour market is still weak enough for the Fed to take action.

" We think the payrolls number will be very poor, which should be positive for gold as it would confirm that the Fed will do something at the next FOMC (Federal Open Market Committee) meeting," said Jeremy Friesen, commodity strategist at Societe Generale in Hong Kong.

SocGen has forecast the payrolls number have risen 70,000 in August, versus a consensus expectation of 125,000 in a Reuters poll.

ETF HOLDINGS

Holdings of gold-backed exchange-traded funds hit a record high of 72.1 million ounces, or 2,044 tonnes, by Thursday. ETF holdings had gained more than 38 tonnes so far this year, with the majority of increase occurring since August when hopes for stimulus from central banks started to run high.

In Asia's physical market, dealers continued to report scrap flow as prices remained near $1,700 per ounce.

" We still see scrap flow today and there is even some buying interest crawling back in," said a Singapore-based dealer.

Silver prices fell 2 percent in spot and futures markets. Spot silver dropped to as low as $31.95 per ounce after hitting a five-month high of $32.98 in the previous session. It recovered to $32.23.

The Relative Strength Index plunged to 72 from the previous session's 80.452, the highest since April 2011 and suggesting the market was heavily overbought. An RSI reading above 70 indicates the underlying asset is overbought.

The most-active COMEX silver futures contract lost 2 percent to $32.04, before paring some losses to $32.29.

Silver remains the top performer in the precious metals complex, up 16 percent so far this year, compared with an 8-percent gain for gold.

 
 
 
bsiong
    07-Sep-2012 08:28  
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Closing Gold & Silver Market Report, 9/06/2012

By  John FosterSeptember 6, 2012


GOLD STILL FIRM ON ECB COMMENTS LABOR REPORT LOOMING       

Gold’s early session gains were pared as several good economic reports increased doubts about seeing any economic stimulus in the short term. Payroll processor ADP reported positive employment numbers, and the United States Labor Department said first time unemployment claims fell to their lowest number since mid July. The Labor Department will release its official report Friday. Depending on Friday’s job report, gold could go above $1,700 an ounce, HSBC’s James Steel said. A positive report could offer some headwinds, “but overall the market still looks pretty firm,” he said.

Gold was not the only beneficiary after comments by European Central Bank President Mario Draghi. The S& P 500 index reached a four year high, and the price of Treasuries fell on growing optimism. “The market was looking for signs that the ECB and some part of the European Union would basically stimulate in Europe and guarantee the sovereign debt,” David Pearl at Epoch Investment Partners said. “Draghi pretty much gave what the market was looking for. The U.S. data is at least moving positively, and we’re in a recovery.”

At 5 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,701.70, Up $8.70.
  • Silver, $32.69, Up $0.36.
 

 
bsiong
    07-Sep-2012 00:56  
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Morning Gold & Silver Market Report, 9/6/2012

By  Geoffrey VarnerSeptember 6, 2012


ECB TO BUY SOVEREIGN BONDS   

“The euro is irreversible,” said Mario Draghi, European Central Bank president, as he announced a bond buying program at a news conference in Frankfurt.  The program is called MOT, or Monetary Outright Transactions. MOT will focus on the secondary sovereign bond market, where Draghi said it is necessary to deal with “severe” distortions in those bond markets.

Ahead of the meeting, Precious Metals prices were up across the board. Most notably, the Gold price was again higher than the $1,700 mark. The euro has gained against the dollar due to Draghi’s remarks that he would do  “whatever it takes”  within the ECB’s mandate to save the euro. It will take time to see if the MOT program is considered “whatever it takes” and keeps the euro going. Gold has a strong inverse correlation to the American dollar, and as we have seen the euro rally, we have also watched Gold rally with it. Gold is at a five month high.

Closer to home, today’s jobless report showed jobless claims decreasing.  Estimates are that claims decreased by 12,000.  Although this isn’t a monumental improvement, it is a step in the right direction, and any positive movement is welcomed.

At 9 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,702.00, Up $9.40.
  • Silver, $32.64, Up $0.32.
 
 
aice06
    06-Sep-2012 14:53  
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Well well ...looks like this is a good week for gold .But tread with caution as we do not know yet which direction the US and Euros are heading to. The less risky of all gold investments are to invest in physical gold.    It is the ultimate choice for wealth preservation and to pass on to your future generations. Ask any rich men. 
 
 
bsiong
    06-Sep-2012 08:02  
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Expect $2,500 Gold &  Silver To Smash All-Time Highs
September 05, 2012 • 15:15:58 PDT

Expect $2,500 Gold & Silver To Smash All-Time Highs

“... $2,450 to $2,500 as we move into the first quarter of 2013.” Read More

 

 
bsiong
    06-Sep-2012 07:59  
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Closing Gold & Silver Market Report, 9/5/2012

By  Brandi BrundidgeSeptember 5, 2012


MARKET QUIET AHEAD OF ECB MEETING AUTHOR SEES ZERO GROWTH FOR CHINA   

Gold and Silver prices showed little movement Wednesday. The markets are speculating that an unlimited bond buying program may be announced at the European Central Bank’s policy meeting Thursday.  The assumption is that the ECB will have many options to present to the Governing Council to consider, but there is no guarantee any of the ideas will be acted upon at Thursday’s meeting. 

Gordon Chang, author of “The Coming Collapse of China,” spoke with CNBC today regarding China’s economy and how some data reflect zero growth for that nation. Chang said that manufacturing surveys, price indices and electricity production are all key indicators of economic growth, and  those factors suggest no growth in China’s economy. Chang said, “By far the most reliable indicator of Chinese economic activity is the production of electricity. When you look at the April through July period, electricity production increased by less than an average of 1.2 percent.” He said electricity production typically outpaces economic growth.

At 5:15 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,694.00, Down $0.50.
  • Silver, $32.31, Down $0.11.
 
 
bsiong
    05-Sep-2012 22:56  
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Morning Gold & Silver Market Report, 9/5/2012

By  Ryan SchwimmerSeptember 5, 2012


EUROZONE INDEX INDICATES UPCOMING RECESSION   

American stock futures and Precious Metals are down this morning, as news out of Europe disappointed investors. The eurozone purchasing managers’ index declined in July,  further indicating a recession is likely soon  in the region. Rob Dobson, senior economist at Markit, said, “The final August PMI came in only slightly below its earlier flash estimate, leaving the eurozone economy on course to fall back into technical recession in the third quarter.” Dobson said “there is little prospect of a sustained improvement in economic conditions over the near term.”

Eurozone policymakers are set to meet tomorrow, and many investors are expecting a new round of monetary easing in the form of bond purchases. One interesting possible outcome of the eurozone meetings is that if any disappointing news comes out and the markets take a hit, the United States Federal Reserve may be more willing to enact its own quantitative easing measures. Stephen Davies, chief executive at Javelin Wealth Management,  added another wrinkle to the story. He said, “We are entering into a strange couple of months because the ability of the Fed to take up much of the slack seems to be quite limited on the basis that they will be quite reluctant to make any major moves ahead of the election, on fear of appearing too partisan.”

At 9 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,694.40, Down $0.30.
  • Silver, $32.33, Down $0.08.
 
 
tedsokny
    05-Sep-2012 14:18  
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The following investment coins are classified as Investment Precious Metals (IPM) in Singapore and will be GST exempt 1 October 2012 onward.

GOLD - America Buffalo Australia Kangaroo Nugget Australia Lunar Austria Philharmoniker Canada Maple Leaf China Panda Malaysia Kijang Emas Mexico Libertad Singapore Lion

SILVER - America Eagle Australia Kookaburra Australia Koala Australia Lunar Austria Philharmoniker Canada Maple Leaf China Panda Mexico Libertad PLATINUM America Eagle Australia Koala Australia Platypus Canada Maple Leaf
 
 
Bopanha
    05-Sep-2012 12:10  
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Silver and gold prices have fallen today just as I predicted that there will be some dipping owing to metal prices rising in recent weeks.  

Stocks in Europe and US are likely to fly today/tonight.  I might be wrong.


Bopanha      ( Date: 05-Sep-2012 08:15) Posted:

Metals (esp gold and silver) have gone up much in the last few weeks.  Profit taking might come in soon.  I think when stocks start to move up, metal will start to correct in prices. I will buy on dip for metals.

 

 
aice06
    05-Sep-2012 12:06  
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There is no doubt with the looming recession and bad economic reports left right and centre the price of gold is going to rise. But for now gold's competition the US currency does seem like a more attractive option to investors. Therefor the price of gold will definitely rise but it is highly dependent on the performance of the US economy. 

bsiong      ( Date: 05-Sep-2012 08:12) Posted:

Last Updated : 04 September 2012 at 21:35 IST

‘Gold will reach $1,750/oz by 2012 year end’

Source :Commodity Online

  Gold prices could test the year-to-date high of near $1,800 if trading momentum picks up.

 

  NEW YORK (Commodity Online):  Gold prices could reach $1,750 an ounce by the end of the year, based on the likelihood of more quantitative easing by the Federal Reserve, said Global Hunter Securities, which could happen as early as the Sept. 12-13 FOMC meeting.

  Fed Chairman Ben Bernanke's speech at the Jackson Hole gathering “provided a clear case and justification for past and future endeavors of quantitative easing. The Fed believes the risk of inflation has been mitigated in the near term allowing further intervention,” they added.

Gold prices could test the year-to-date high of near $1,800 if trading momentum picks up however, the firm warns “while the trend is for higher gold prices through the end of the year, volatility and the potential for quick corrections in gold also increase,” they continued.

Global Hunter also recommended that gold equities, specifically “lower-cost producers in stable jurisdictions with the ability to return capital to investors in form of dividends and/or share repurchase.”

Global gold prices are modestly higher in early United States trading on Tuesday, hitting another fresh five-month high on some follow-through buying from Friday’s big rally.

The precious metals bulls are still glowing in the aftermath of a bullish speech by U.S. Federal Reserve Chairman Ben Bernanke last Friday morning.

December gold last traded up $5.70 at $1,693.20 an ounce on the Comex division of the New York Mercantile Exchange. Spot gold was last quoted down $1.60 an ounce at $1,691.50. December Comex silver last traded up $0.588 at $32.03 an ounce.


 
 
Bopanha
    05-Sep-2012 08:15  
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Metals (esp gold and silver) have gone up much in the last few weeks.  Profit taking might come in soon.  I think when stocks start to move up, metal will start to correct in prices. I will buy on dip for metals.
 
 
bsiong
    05-Sep-2012 08:12  
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Last Updated : 04 September 2012 at 21:35 IST

‘Gold will reach $1,750/oz by 2012 year end’

Source :Commodity Online

  Gold prices could test the year-to-date high of near $1,800 if trading momentum picks up.

 

  NEW YORK (Commodity Online):  Gold prices could reach $1,750 an ounce by the end of the year, based on the likelihood of more quantitative easing by the Federal Reserve, said Global Hunter Securities, which could happen as early as the Sept. 12-13 FOMC meeting.

  Fed Chairman Ben Bernanke's speech at the Jackson Hole gathering “provided a clear case and justification for past and future endeavors of quantitative easing. The Fed believes the risk of inflation has been mitigated in the near term allowing further intervention,” they added.

Gold prices could test the year-to-date high of near $1,800 if trading momentum picks up however, the firm warns “while the trend is for higher gold prices through the end of the year, volatility and the potential for quick corrections in gold also increase,” they continued.

Global Hunter also recommended that gold equities, specifically “lower-cost producers in stable jurisdictions with the ability to return capital to investors in form of dividends and/or share repurchase.”

Global gold prices are modestly higher in early United States trading on Tuesday, hitting another fresh five-month high on some follow-through buying from Friday’s big rally.

The precious metals bulls are still glowing in the aftermath of a bullish speech by U.S. Federal Reserve Chairman Ben Bernanke last Friday morning.

December gold last traded up $5.70 at $1,693.20 an ounce on the Comex division of the New York Mercantile Exchange. Spot gold was last quoted down $1.60 an ounce at $1,691.50. December Comex silver last traded up $0.588 at $32.03 an ounce.

 
 
bsiong
    05-Sep-2012 08:07  
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Closing Gold & Silver Market Report, 9/4/2012

By  Ryan SchwimmerSeptember 4, 2012


QUANTITATIVE EASING TALK PUSHES GOLD HIGHER   

The Gold price rose to a five month high today on quantitative easing news out of Europe and the United States. James Steel of HSBC said that “it’s the avalanche of money argument” in regards to Precious Metals’ gains recently. Andrey Kryuchenkov of VTB Capital said, “All that promise (of quantitative easing) needs to turn into concrete action. And for Gold in the long run, it needs any sort of liquidity boost, or balance sheet expansion, and for bond yields to stay low.”

Drakon Capital’s Guy Adami said he believes the quantitative easing news will send  Gold to a new record price. “I don’t think it has anything to do with fear (about fiat currencies). It has everything to do with what’s coming down the pipe,” he told CNBC. “Again, I’ll say, although it’s painful on the down days, and there have been a number of them, I think Gold is what’s going to win,” he said. “One day we’re all going to wake up, and the price of Gold is going to be a lot higher than it is now. When I say a lot higher, I mean north of $2,000.” Adami is a firm believer in Gold’s future.

At 5 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,696.70, Up $10.60.
  • Silver, $32.38, Up $0.94.
 
 
bsiong
    05-Sep-2012 00:00  
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September 04, 2012 • 05:39:08 PDT

September And November Best Months To Own Gold

Hopes are high that Mario Draghi’s speech on Thursday at the ECB’s policy meeting will help solve the 3 year old debt cr... Read More

 

 
bsiong
    04-Sep-2012 23:57  
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Morning Gold & Silver Market Report, 9/4/2012

By  Peter LaTonaSeptember 4, 2012


GOLD PUSHES TOWARD $1,700 SILVER ABOVE $32   

Comex Gold futures are slightly higher this morning, setting new five month highs. Gold and Silver prices shot upward after Federal Reserve Chairman  Ben Bernanke seemed to open the door to QE3  in his speech at Jackson Hole, Wyo., last week. Now, markets are focused on the monthly meeting of the European Central Bank, which is set for Thursday. Many analysts expect the  ECB will announce a monetary stimulus plan  that will boost both stocks and Precious Metals.

Adding more pressure to the ECB, Moody’s Investors Service changed its eurozone outlook to negative. Moody’s warns that if it lowers the ratings of Germany, France, the United Kingdom and the Netherlands (the European Union’s four biggest budget backers), it might just downgrade the entire eurozone bloc.

The United States and Europe may not be the only economies on the verge of receiving a stimulus. Although the Chinese government has yet to implement any stimulus measures in the face of a  slowing Chinese economy, there is additional evidence that the Chinese economy is slowing. On Saturday, the official manufacturing sector survey reported a 49.2 reading in August. This falls below the level of 50 that separates expansion from contraction. In another survey more focused on small to midsize businesses, published by HSBC, the number was 47.6.

At 9 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,691.70, Up $5.60.
  • Silver, $32.20, Up $0.76.
 
 
bsiong
    04-Sep-2012 08:08  
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Federal Reserve has already started QE3, says investor Jim Rogers
September 03, 2012 • 11:28:11 PDT

Federal Reserve Has Already Started QE3, Says Investor Jim Rogers

Mr Rogers, believes that America's central bank is secretly printing money to avoid " getting egg on their face again" Read More

 
 
aice06
    03-Sep-2012 21:27  
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The performance of gold is inversely related to the U.S currency as you can see in the post below, the job market in the US have a direct impact on the price of gold. To understand this relationship better,it is useful to look into the past and learn about the relationship between gold and the U.S currency. The price of gold was initially pegged to the US dollar  . However this relationship is severed in the 1970s.  To predict the future, it is important to look into history and study gold's performance. After all, history does repeat itself. 


 
 
bsiong
    03-Sep-2012 10:01  
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SINGAPORE, Sept 3 (Reuters) - Gold hovered near a five-month
peak on Monday
, supported by hopes for more stimulus measures
after U.S. Federal Reserve Chairman Ben Bernanke gave a grave
assessment of the economy last week.
     
      FUNDAMENTALS
      * Spot gold had edged down 0.3 percent to $1,686.43
an ounce by 0016 GMT, easing from a five-month high of $1,692.71
hit on Friday. 
      * U.S. gold was little changed at $1,689.
      * Bernanke on Friday left the door wide open to a further
easing of monetary policy, saying the stagnation in the U.S.
labour market was a " grave concern," but he stopped short of
providing a clear signal of imminent action. Bullion is seen as
a hedge against inflation.
      * Hedge fund and money managers boosted their net long
positions in U.S. gold futures and options to the highest level
in more than five months in the week ending Aug.28, as gold
broke above a long-held range on hopes for more stimulus
measures.
      * China's official factory purchasing managers' index
fell to a lower-than-expected 49.2 in August from
50.1 in July, official data showed on Saturday, a result that is
likely to strengthen the case for further policy steps to
bolster growth.
      * Euro zone inflation jumped more than expected in August,
data showed on Friday, likely reducing chances that the European
Central Bank will cut interest rates next Thursday.

      * Talks to end a deadly strike at the South African mining
operations of world No. 3 platinum producer Lonmin
resume on Monday after weekend funerals for over 30
workers killed by police.
      * Spot platinum gained 0.4 percent to $1,535.49,
after falling 0.8 percent last week.
               
      MARKET NEWS
      * U.S. stocks rose on Friday after Bernanke's comments.
      * The euro and commodity currencies started the new week on
the defensive, with the Australian dollar slipping to a fresh
five-week low as the market reacted in dismay to more signs of
weakness in the Chinese economy.
     
      DATA/EVENTS (GMT)
0230 China    HSBC Mfg PMI Final        Aug                         
0500 India    HSBC Markit Mfg PMI      Aug                       
0743 Italy    Markit/ADACI Mfg PMI    Aug                         
0753 Germany Markit/BME Mfg PMI        Aug                         
0758 EZ          Markit Mfg PMI                Aug             
 
 
aice06
    01-Sep-2012 12:22  
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Gold is probably one of the lesser complicated investment vehicle compared to stocks, shares, bonds, options etc. Since its discovery gold had been a symbol of wealth, power and status and people had invested in gold even during ancient Egyptian times. Granted its association to the US currency had made investing in gold a little more complicate than it was but all in all gold eventually increases in value. For investors who intend or have already invested in gold it is important to read on its history and step by step investment guide to make a more informed decision.
 
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