Gold May Rise for First Day in Three on Chinese Import Figures (GC in Bloomberg via Business Week)
Mar, 11, 2010 | Business Week
Gold may rise in New York and London for the first time in three days as industrial metals climb on Chinese import figures and the dollar’s rally stalls. Copper advanced as much as 0.8 percent in London after China said imports of refined metal climbed 10 percent in February from the prior month. The dollar was little changed against the euro after earlier gaining as much as 0.4 percent. Bullion typically moves inversely to the greenback.
Gold steadies as lower price boosts buying
Technicals support after 1-percent gold price slide * Euro remains depressed by debt worries but losses limited * SPDR gold ETF sees 0.609-tonne outflow on Wednesday
Gold bounces from 2-week low; ETF holdings slip
Gold regained some strength on Thursday after falling to its weakest in nearly two weeks the previous day, but sentiment looked weak as prices stayed below their 50 and 100-day moving averages.
Palladium an attractive investment: -Norilsk
Mar, 10, 2010 | Reuters
Palladium is an appealing investment because future jewelry and industrial demand will be strong, Norilsk Nickel, the world's largest palladium producer, told the Reuters Global Mining and Steel Summit.
Gold steadies on slight rebound in euro
Mar, 10, 2010 | Reuters
Gold jumped on Wednesday after a drop to a two-week low in the previous session ignited bargain hunting, while gains in platinum and palladium prices offered additional support. Strong trade data from China helped boost gold price to a high of around $1,126 an ounce, and buying by Japanese speculators on Tokyo platinum futures spilled in to the cash market, driven by hopes of steady demand for autocatalysts.
Gold likely to benefit from inflation - Newmont CEO
Mar, 10, 2010 | Mineweb
Gold will benefit from inflation as central banks around the world continue to use stimulus programs to spur economic recovery, the chief executive of the world's No. 2 gold producer Newmont Mining Corp (NEM.N) said on Monday. "My view is that each country in the world, to some extent, has fueled the reigniting of its economy through issuance of additional currencies," CEO Richard O'Brien told the Reuters Global Mining and Steel Summit in New York.
Gold, Little Changed, May Decline a Second Day on Dollar, China
Mar, 09, 2010 | Business Week
Gold, trading little changed in Asia, may drop for a second day as the dollar halted its decline and China said bullion is not likely to be the country’s main reserve investment. Gold for immediate delivery traded at $1,122.18 an ounce at 2:24 p.m. in Singapore, after falling as much as 0.3 percent earlier. The precious metal is “unlikely” to be China’s primary investment to diversify its reserve holdings because of price risks, Yi Gang, head of the State Administration of Foreign Exchange, said today.
China Cautious on Gold Buying
Mar, 09, 2010 | Wall Street Journal
China's chief foreign-exchange regulator suggested the country's appetite for further gold purchases may be limited and offered soothing words about China's role as an investor in U.S. Treasurys. "Gold is not a bad asset, but currently a few factors limit our ability to increase foreign-exchange investment in gold," said Yi Gang, director of China's State Administration of Foreign Exchange. He said gold doesn't offer good long-term returns due to price swings.
Gold drops as dollar rises vs. yen, Greece gets vocal support (GC in Marketwatch)
Mar, 09, 2010 | MarketWatch
Gold futures finished lower on Monday, erasing gains seen in morning trade, as investor enthusiasm for the U.S. economy and aid to Greece faded, lifting the dollar while reducing the appeal of the precious metal. Gold for April delivery closed at $1,124 an ounce, down $11.20, or 1% at the New York Mercantile Exchange. It earlier rose as high as $1,138 and fell as low as $1,118.50 an ounce.
Venezuela Central Bank to Increase Gold Purchases, Khan Says
Mar, 08, 2010 | Bloomberg.com
Venezuela’s central bank will boost its gold reserves this year and will buy more than half the estimated 20 metric tons of domestic production, bank director Jose Khan said today at an event in Caracas.
GoldCore：金价可能回升至纪录高位
GoldCore驻柏林执行董事Mark O' Byrne认为，金价在上月从三个月来的低位反弹“可能意味着近期的修整要结束，在与美元兑欧元和英镑汇率走强期重合的情况下尤其如此。金价上涨的趋势看起来确在形成。”
Gold Flat; Upside Expected As Dollar Declines
Mar, 08, 2010 | Bloomberg.com
Gold futures are trading flat in the Asia morning session today, however an upside move is expected as dollar declined and oil futures trade near $82 a barrel. Last week gold gained nearly $20 on monetary tightening spree in Asian countries. The international gold futures bottomed out from near 3 month lows of around $ 1045 levels in early February and have rallied by over $100 to near $ 1145 per ounce levels. The factor that may hinder rally in metal is expected rise in the US dollar next week in the afterglow of a better than expected non farm payrolls data and as Euro continues to strugg
Gold Climbs for Second Day as Weaker Dollar Boosts Commodities
Mar, 08, 2010 | Business Week
Gold gained for a second day in Asian trading as a weaker dollar made commodities priced in the U.S. currency more attractive to investors. Gold for immediate delivery gained as much as 0.3 percent to $1,137.73 an ounce and traded at $1,137.43 at 3:55 p.m. in Singapore. The dollar dropped for a second day against a basket of six currencies, including the euro and yen, before data today that economists said will show German industrial output expanded, adding to signs the region’s economy is rebounding.
Gold in Euros to Continue Hitting New Peaks: Technical Analysis
Mar, 05, 2010 | Bloomberg.com
March 4 (Bloomberg) -- Gold priced in euros will continue setting records, Fortis Nederland said, citing trading patterns. Gold denominated in the 16-nation currency reached an all- time high of 836.98 euros an ounce on March 2, nearing its medium-to-longer-term technical upside target of 900 euros and above, said Wallace Ng, Hong Kong-based executive director of commodity derivatives at Fortis Nederland NV. “Because we are in uncharted territory, based purely on technical projections, the target price should be over 900,” he said in a telephone interview. “The weekly chart has for
Gold May Rise Back to Record, GoldCore Says: Technical Analysis
Mar, 05, 2010 | Bloomberg.com
March 5 (Bloomberg) -- Gold’s rally in everything from dollars to euros to pounds is a sign of strengthening demand and the metal may return to its record of $1,226.56 an ounce, according to technical analysis by broker GoldCore Ltd. The attached chart shows gold may rise to the all-time high of December, “especially if resistance at $1,160 is broken.” That was the highest reached in January. The second chart shows gold priced in euros and sterling reached records this week. Gold’s rebound from a three-month low the past month “could signify the end of the recent correction, es
PRECIOUS-Gold holds near NY levels, awaits U.S. payrolls data
SINGAPORE, March 5 (Reuters) - Gold hardly changed on Friday and looked set to trade in a tight rage ahead U.S. payrolls data, which could determine the direction of the dollar against the euro. FUNDAMENTALS * Spot gold was at $1,131.00 an ounce by 0037 GMT, down 45 cents from New York's notional close on Thursday, when it extended losses as investors booked profit from this week's rally to a 6-½ week high. * Gold had gained as much as $30 an ounce this week before Thursday's decline, as uncertainty about Greece's ability to repay its crippling debt increased the metal's appeal as a
Gold May Rise Back to Record, GoldCore Says: Technical Analysis
Mar, 05, 2010 | Business Week
March 5 (Bloomberg) -- Gold’s rally in everything from dollars to euros to pounds is a sign of strengthening demand and the metal may return to its record of $1,226.56 an ounce, according to technical analysis by broker GoldCore Ltd. The attached chart shows gold may rise to the all-time high of December, “especially if resistance at $1,160 is broken.” That was the highest reached in January. The second chart shows gold priced in euros and sterling reached records this week.
Greece passes new deficit cuts to avert 'catastrophe'
Mar, 04, 2010 | The Telegraph
George Papandreou, the Greek prime minister, said on Wednesday that the measures, which include higher taxes on alcohol and cigarettes, were needed to avoid a fiscal 'catastrophe.' Greece has been at the heart of a financial storm so far this year that has left European Monetary Union facing the severest crisis in its short history. Scepticism about whether German and French voters would stomach bailing Greece out of its debt crisis has driven Greece's cost of borrowing to its highest since it joined the eurozone.
Gold edges down after rally, off 6-week high
Gold fell on Thursday as investors booked profits after the metal rallied to its highest in more than 6 weeks the previous day, but a firm euro could lend support.
Gold falls from 6-1/2-week high, ETF holdings up
Gold slipped on Thursday as investors booked profits after the metal rallied to a 6-½ week high the previous day, but an increase in ETF holdings highlighted bullion's growing safe haven appeal.