Tag Archives: gold market
Gold rises on deal Slovakia, European optimism
Gold rose Wednesday with riskier assets, such as the dollar fell on hopes that the eurozone debt crisis will be included after the parties have agreed to the Slovak regions bailout Fund. Wall Street and industrial metals also posted sharp gains after Slovak lawmakers said they plan to increase the powers and scope of the European rescue fund EFSF expand approve. Bullion broke above the 20-day moving average, which is technically inspired buying.
(more…)
Five of the Best: Gold miners set to surprise in 2012
Angelos Damaskos, manager of the £ 40m fund Junior Gold and CEO of the Sector Investment Managers, up five gold miners best placed to benefit from the upturn in commodity prices. Damaskos said the upward trend in gold price is set to continue as the crisis developed economies remains complex. (more…)
Gold Falls lower as inflation concerns ease on U.S. jobs report
FALLS GOLD: Gold for December delivery fell $ 17.40 Friday, or 1 percent, to $ 1,635.80 an ounce. December silver lost $ 1.012, or 3.16 percent, to close at $ 30,993.
JOBS REPORT: On Friday, the U.S. Department of Labor reported that U.S. employers added 103,000 jobs in September, boosting the confidence and the dollar value, which hurts gold. (more…)
Gold and silver ETFs snapped on Tuesday, posting its first positive close of the week and leaving enough space for more bargain basement shopping.
The SPDR Gold Trust (GLD) rose 1.9% and the iShares Silver Trust (SLV) jumped 4.7%. Yet, after four straight losing days post Tuesday, GLD shares are still a price from August levels. Meanwhile, SLV inventory of actual progress from mid-February. In futures markets, gold today regained the psychologically important level of $ 1,600. Gold for December delivery rose 3.6% to $ 1,652.50 an ounce on the Comex attention. December silver gained 5.2% to reach $ 31.54 an ounce. (more…)
In the dash for cash, gold ETF investors hanging down
Amidst the second largest gold sell-off since 1983, was the casual observer might think that investors were dumping bullion in droves. Initial data suggests otherwise. he loss of confidence that caused gold prices to fall 10 percent in four days to Monday is not nervous investors in the leading gold Exchange Traded Fund, or caused futures traders to close out positions en masse, figures show. (more…)
Gold falls below $ 1.800 Amid speculation Fed May Boost Economy
Gold traded below $ 1,800 an ounce as some investors sold the metal in the final profit amid speculation the Federal Reserve may announce steps today to the coast of the U.S. economy, the decline in demand for a port. Immediate delivery of gold shed as much as 0.3 percent to $ 1,798.55 an ounce, and last traded at $ 1,801.15 at 10:08 Singapore time. The metal rose 1.4 percent yesterday, the biggest gain in eight days, the care of Europe’s debt crisis is worse. It reached a record $ 1,921.15 an ounce on Sept. 6.
“In addition to the debt crisis in Europe, one of the biggest boosters of the gold market is the U.S. policy,” Yang Shandan, senior dealer at Cinda Futures Co., said from Zhejiang, China. “The main concern in the U.S., unemployment, and they first need to fix that before worrying about the weakness of the dollar. We see some profit taking today for the Fed announcement.” (more…)
