3
September
Gold May Rise as Slowdown Spurs Investor Demand, Survey Shows (GC in Bloomberg)
3 September 2010 Business Week
Gold may advance on speculation the U.S.’s economic slowdown will spur demand for the precious metal as a haven from declines in other assets.
Thirteen of 18 traders, investors and analysts surveyed by Bloomberg, or 72 percent, said the metal will gain next week. Three forecast lower prices, and two expected little change. Gold for December delivery was up 1.1 percent for this week at $1,251.70 an ounce at 11:49 a.m. yesterday on the Comex in New York.
3
September
Gold steady as investors eye U.S. jobs data
3 September 2010 Reuters
Gold prices were steady on Thursday, with buyers cautious on the physical market, as investors wait for key U.S. job data due later in the day for further clues on health of the economy.
Data released on Thursday showed a surprise rebound in pending sales of previously owned homes in July, as well as a fall in new jobless claims last week in the U.S.
3
September
Gold Poised for Fifth Straight Weekly Gain on Economic Growth Concerns
3 September 2010 Bloomberg.com
Gold, little changed, may climb for the fifth straight week on speculation that an economic slowdown will increase demand for the precious metal as a store of value.
Immediate-delivery gold traded at $1,251.40 an ounce at 2:01 p.m. in Tokyo after trading between $1,249.40 and $1,252.35. The price has gained 1.1 percent this week, touching $1,254.73 on Sept. 1, the highest level since June 28.
2
September
Gold inches up as economic outlook remains murky
2 September 2010 Reuters
Gold prices were slightly firmer on Thursday, and could stay on the rise as global economic prospects remain shaky with investors watching for more jobs data out of the United States.
The better-than-expected manufacturing data from the U.S. on top of strong data out of China on Wednesday lifted equities and commodities, but initial jobless claims due on Thursday and payroll data on Friday are likely to show a still grim job market in the U.S. and spur safe-haven demand in gold.
2
September
Gold Advances Toward Record Amid `Brisk' Demand for Exchange-Traded Funds
2 September 2010 Bloomberg.com
Gold advanced toward a record on signs of increased demand from investors seeking to protect their wealth.
Immediate-delivery gold climbed as much as 0.2 percent to $1,247.25 an ounce, and traded at $1,246.75 at 11:43 a.m. in Tokyo. The price touched $1,254.73 yesterday, the highest level since June 28 and within 1 percent of the all-time high.
1
September
IMF Gold Assets Fall 16.85 Tons as Russia Adds to its Holdings
1 September 2010 Business Week
The International Monetary Fund’s gold reserves fell by 16.85 metric tons in July as Russia added 16.2 tons to its holdings, according to figures from the Washington-based lender.
Reserves of gold at the IMF were 2,917.07 tons at the end of July, compared with 2,933.92 tons a month earlier, data on the IMF’s website show. Russia increased holdings to 726.02 tons last month from 709.81 tons, according to the figures.
1
September
Gold May Decline After Gain to Highest Level in Two Months Prompts Selling
1 September 2010 Bloomberg.com
Gold, little changed, may decline as a rally to a two-month high prompts some investors to sell.
Gold for immediate delivery traded at $1,246.30 an ounce at 11:42 a.m. Tokyo time after climbing as high as $1,250.03 yesterday, the highest price since June 28. December-delivery futures dropped 0.2 percent to $1,248 an ounce on the Comex in New York.
1
September
Gold eases from 2-month peak; econ worries support
1 September 2010 Reuters
Gold prices touched a fresh two-month peak on Wednesday on persistent worries of a downturn in the United States and strong demand for gold-backed exchange- traded products. Spot gold prices XAU= rose 56 cents $1,249.55 an ounce by 0654 GMT, having touched a two-month peak of $1,250.55 shortly before.
1
September
Gold Hits 2-Month High On Refuge Demand (GC in WSJ)
1 September 2010 Wall Street Journal
Gold futures continued their upward march Tuesday, hitting a two-month high on worries about the strength of the economic recovery.
The most actively traded gold contract, for December delivery, rose $8.60, or 0.7%, to $1,247.80 an ounce on the Comex division of the New York Mercantile Exchange, the highest price for the benchmark contract since June
31
August
Gold firms slightly; eyes US data for impetus (GC in Reuters)
31 August 2010 Reuters
Gold firmed in a tight range on Monday, starting its fifth straight week in positive territory, with dealers looking to key U.S. jobs reports for clarity on its economic health. Spot gold was quoted at $1,236.95 by 1148 GMT versus $1,235.70 late in New York on Friday. Trade was fairly muted in Europe, with UK markets closed for a public holiday. U.S. gold futures for December delivery GCZ0 rose 90 cents to $1,238.80 an ounce. Bullion dealers said the extent of the world's biggest economy's ability to generate jobs will be a key driver for prices, culminating in Friday's employment figures
31
August
Gold steady as U.S. data, equities eyed
31 August 2010 Reuters
Gold was steady on Tuesday as investors eyed U.S. economic data due this week for clues to the strength of the world's largest economy while looking at equities to gauge investor risk appetite.
Gold has benefited from worries about the U.S. economy and weakness in other markets that highlight bullion's appeal as a safe haven or alternative investment.
31
August
Gold Poised for Biggest Monthly Advance Since April on Investment Demand
31 August 2010 Bloomberg.com
Gold is set for the biggest monthly advance since April as signs that the global economic recovery may be faltering prompt investors to boost their holdings to try to preserve their wealth.
Gold for immediate delivery was little changed at $1,236.20 an ounce at 12:56 p.m. in Singapore, climbing 4.7 percent this month. The metal, which reached a record $1,265.30 an ounce in June, climbed 5.9 percent in April. The December contract in New York was also little changed today at $1,238.50 an ounce.
30
August
India's Gold ETF Assets May Soar 17-Fold on Refuge Demand, Executive Says
30 August 2010 Bloomberg.com
Gold held by exchange-traded funds in India, the world’s biggest buyer of bullion, may surge as much as 17 times in the next three years as investors seek a refuge from financial turmoil and inflation.
Assets may reach “100 tons to 200 metric tons” from 12 tons now, said Rajan Mehta, executive director of Benchmark Asset Management Co., which runs the nation’s first and biggest gold exchange-traded fund. “The growth will definitely be faster than what we have seen in the past.”
30
August
2200-year-old gold coin found in Israel
30 August 2010 AFP
A rare gold coin dating back more than two millennia to the year 191 BC has been found at a dig in northern Israel, the antiquities authority said on Wednesday.
"The coin is beautiful and in excellent preservation. It is the heaviest gold coin with the highest contemporary value of any coin ever found in an excavation in Israel," Dr Donald T. Ariel, head of the authority's coin department, said in a statement.
The coin weighs almost one ounce (27.71 grams), whereas most ancient gold coins weighed 4.5 grams, he added.
30
August
Gold Declines After Four Weeks of Gains as Bernanke Pledge Spurs Selling
30 August 2010 Bloomberg.com
Gold fell on speculation that four weeks of gains are prompting some investors to sell their holdings after Federal Reserve Chairman Ben S. Bernanke pledged to safeguard the economic recovery.
Gold for immediate delivery weakened as much as 0.3 percent to $1,234.60 an ounce before trading at $1,235.97 at 12:38 p.m. in Singapore. The metal has climbed 4.6 percent in the past month as investors sought protection amid growing evidence that the global economy is sputtering.
30
August
Gold steadies as mixed U.S. data looms
30 August 2010 Reuters
Gold steadied on Monday after starting its fifth straight week in positive territory ahead of fresh U.S. economic data that could signal a mixed outlook.
Bullion dealers said the extent of the U.S. economy's ability to generate jobs would be the highlight of the data, culminating in Friday's employment figures, and provide direction for gold.
27
August
Gold inches up as markets await Bernanke speech
27 August 2010 Reuters
SHANGHAI, Aug 27 (Reuters) - Gold edged higher on Friday,
as investors waited for a key speech from Federal Reserve chief Ben Bernanke later in the day and expected the United States to revise down its second-quarter economic growth figure. The U.S. government is seen revising its second-quarter economic growth to an annual pace of 1.4 percent from a previous figure of 2.4 percent. "If the
27
August
Gold Fluctuates in London as Prices at Eight-Week High Spur Investor Sales
27 August 2010 Bloomberg.com
Gold fluctuated in London as some investors sold the metal after prices rallied to an eight-week high on concern that economies are stalling.
Bullion headed for a fourth weekly advance and is trading 2.3 percent below a record. Prices yesterday reached $1,244.30 an ounce, the highest level since June 30. The U.S. economy probably expanded less than initially estimated in the second quarter, economists expect a report to show today. The dollar was little changed against the euro and European equities fell.
27
August
Iran Imports 23 Tons of Gold in 4 Months, 22 Tons in the Previous Year
27 August 2010 Bloomberg.com
Iran imported 23 tons of gold in the four months ending July 22, the state-run Fars news agency reported. Imports of the precious metal totaled $855 million and came from Turkey, the United Arab Emirates, Russia and Switzerland, Fars said. The Persian Gulf country imported 22 tons of gold in the year ending March 20, the agency said.
27
August
Gold Demand to Soar in Vietnam as `Shelter' From Devaluations, Stock Slump
27 August 2010 Bloomberg.com
Gold demand in Vietnam, which consumes more of the precious metal per head than India and China, is set to surge as the third devaluation in the past year and a stock-market slump combine to spur sales.
“People will switch to gold as a shelter,” said Le Xuan Nghia, vice chairma
