Back

First < Newer 1521-1540 of 4402 Older> Last

Latest Forum Topics / GLD USD Last:245.3

+0.82

Post Reply

Gold & metals

bsiong
Supreme

18-Oct-2012 20:41

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Gold Faces First Test after Rebound off of Low

Daily Bars eliottWaves_gold_body_gold.png, Gold Faces First Test after Rebound off of Low

Prepared by Jamie Saettele, CMT

“Gold has finally done something after consolidation at the top of the multiyear range for several weeks. The sharp break has resulted in a test of the 23.6% retracement of the advance from the late 2011 low. The area is also defined by September congestion. This is a level that could produce a low although 1715 (9/13 low) is probably stronger. The drop has shifted reward/risk to bulls against the 9/7 low at 1689.” Near term, gold faces a test at 1754. Support is now 1737.

LEVELS: 1715 1728 1737 1754 1770 1780

Useful To Me Not Useful To Me

bsiong
Supreme

18-Oct-2012 20:39

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Gold softens in line with euro ahead of EU summit

* Gold eases as investors await direction from Europe * Physical demand in India wanes as prices rise * Lonmin reports 4,000 off work at Marikana mine in SAfrica By Clare Hutchison LONDON, Oct 18 (Reuters) - Gold eased a touch on Thursday as the euro failed to maintain gains made after a well received auction of Spanish debt, but prices remained in a narrow range ahead of a meeting of euro zone policymakers later in the day. The single European currency rose to a session high against the dollar, close to the one-month peak struck on Wednesday, after good demand at an auction of Spanish bonds led to lower yields on Spain's 10-year paper. The euro quickly surrendered gains to drift lower, however. European shares also were little changed, with concerns over euro zone debt keeping investors on the sidelines as European Union leaders gathered in Brussels for a two-day summit. Spot gold fell 0.2 percent on the day to $1,746.89 per ounce by 1030 GMT. U.S. gold futures slipped $4.60 an ounce to $1,748.40. Prices of spot gold dipped below $1,730 earlier in the week under the pressure of uncertainty over Spain's bailout plan and improvement in U.S. economic data, which triggered concerns about the extent of the latest stimulus measures. " Gold seems to lack a little bit of momentum at the moment. We've seen some firmness, but it's not the big moves that many have forecasted," said Ross Norman, chief executive of bullion brokers Sharps Pixley. " If there was fear, you would buy gold, but there is uncertainty, so people tend to sit on their hands, trying to work out how things play out. The EU summit, the euro and the dollar will be the drivers in the next short period, and the expectations are that if anything comes out of it (the summit), there would be some euro strength and some gold firmness." Norman said physical demand was also weaker than expected for the time of year, when festivals in India and the build-up to Christmas tend to ramp up physical buying. INDIAN DEMAND WANES Demand from gold importers in India appeared to wane on Thursday as a weaker rupee drove up domestic prices in the world's largest gold buyer for the third session in a row. Prices on the most active contract on India's benchmark exchange rose 0.1 percent to 31,173 rupees per 10 grams on Thursday. " Gold is trying to establish a foothold around the mid $1700s as we step into what is traditionally the busy season for gold demand in India," UBS analyst Edel Tully said in a note. " Recently we've noted an improvement in Indian gold buying, but the interest has trailed off since Tuesday to settle about 11 percent below this year's average. The sharp price moves of late likely acted as a deterrent as physical buyers tend to prefer jumping in when prices are stable." Meanwhile, bullion-backed exchange-traded funds took in almost 54,800 ounces on Oct. 17, Reuters data showed. Precious metals largely shrugged off Chinese GDP data that showed a seventh straight quarter of slowdown in July-September to a growth rate of 7.4 percent on the year, as expected. Spot platinum rose 0.3 percent to $1,664.74, while palladium was up 0.2 percent at $650. Platinum producer Lonmin said on Thursday around 4,000 workers at its Marikana mine in South Africa had stayed away from work, again disrupting operations at the site where 34 miners were killed by police in August. Silver fell 0.2 percent to $33.08, tracking gold. (Additional reporting by Jan Harvey in London and Rujun Shen in Singapore editing by Jane Baird)

Useful To Me Not Useful To Me

bsiong
Supreme

18-Oct-2012 20:36

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Closing Gold & Silver Market Report – 10/17/2012

by Ted Prince October 17, 2012

GOLD UP ON WEAK DOLLAR INVESTORS FOCUS ON EUROZONE

Gold ended the day higher as a weaker dollar drove the metal up for the second day in a row. Increased confidence over Europe’s debt dilemma is the main catalyst pushing down the dollar. Though Gold experienced mild gains today, a significant price boost was halted by positive news about the U.S. housing market. A 15 percent increase in construction starts on U.S. homes easily outpaced economist’s forecasts. Traditionally, the pulse of the housing market is a quality indicator of current economic conditions.

Investor attention will be fixed on the eurozone tomorrow as the region’s leaders convene to discuss the European debt crisis. Since the European Central Bank announced its plans to buy unlimited quantities of debt, market concerns over a possible meltdown of the eurozone have lessened. There is still distress over the extremely dire situation in Greece and the need for further debt restructuring. " A Greek exit from the euro carries the risk of a European and even international conflagration and could trigger a global economic crisis," Bertelsmann Foundation said, citing the study it commissioned from Prognos AG.

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

Gold, $1751.00, Up$5.20.
Silver, $33.25, Up $0.28.

Useful To Me Not Useful To Me

bsiong
Supreme

18-Oct-2012 00:54

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Last Updated : 17 October 2012 at 20:35 IST

HSBC still bullish on Gold sees $1,900/oz by year end

Source :Commodity Online

NEW YORK (Commodity Online): HSBC Holdings plc (HSBC) remains bullish on gold, and they expect yellow metalprices to reach $1,900 an ounce by year-end.

According to the British bank, Federal Reserve’s third round of asset purchases via quantitative easing (QE3) and other central banks’ policy easing measures are measurably boosting gold-investment demand.

“For investors who expect QE3 will fail to jump-start economic growth, gold offers an attractive quality asset. For investors concerned about the inflationary impact of QE3, gold appeals as an inflation hedge,” HSBC said in an updated forecast.

“Although the first rush of QE3-inspired gold buying is over, we believe that the Fed’s open-ended commitment to easing until U.S. labor markets improve will support gold well into 2013,” they added.

“Perhaps the most important plank in our bullish analysis is the likelihood that the U.S. dollar will weaken, as forecast by HSBC foreign-exchange research, due in part to the currency impact of QE3 and U.S. fiscal issues. Other macroeconomic factors, such as persistently high commodity prices, should provide a further prop for gold,” the bank continued.

Concerns about US fiscal issues and the likelihood of a weaker US dollar are additional factors supporting gold. It also cited continuing central-bank demand that accounted for 456 metric tons in 2011.

HSBC said it looks for reserve managers to purchase an additional 450 tons this year and 425 tons next year.

There are some sluggish supply/demand factors, including weak jewelry demand, low Indian bullion imports, rising scrap supply and limited retail coin and small-bar demand. This has the potential to constrain—but not reverse—the long-running rally, the bank noted.

HSBC lowered its average forecast for full-year 2012 to $1,700 an ounce to reflect price weakness earlier this year. Its previous forecast had been $1,760 an ounce.

However, HSBC upped its average forecast for 2013 to $1,850 from $1,775, listing a potential range of $1,550 to near $2,000. It also upped its 2014 forecast to $1,775 from $1,750.

Gold also may be positively impacted by any further shift in financial markets’ attention away from eurozone debt problems toward similar concerns about U.S. government debt levels and fiscal policies.

Meanwhile, high gold prices in rupee terms and government policies have crimped Indian gold demand and encouraged greater scrap supply. Chinese jewelry demand has been generally robust this year, although it could abate, said the British bank.

HSBC looks for fresh investment demand of 1,572 tons in 2012 after 1,690 a year ago. A rally to $1,900 an ounce could hurt jewelry demand further. Global jewelry demand is forecast at 1,773 tons this year, compared to 1,974 in 2011, HSBC concluded.

Useful To Me Not Useful To Me

bsiong
Supreme

18-Oct-2012 00:51

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Morning Gold & Silver Market Report – 10/17/2012

By Brandi BrundidgeOctober 17, 2012

PIMCO ADDS TO ITS GOLD POSITION SPAIN EXPECTED TO ASK FOR BAILOUT

Gold is slightly up this morning as anticipation builds before this week’s European Union leaders’ meeting to discuss Spain’s financial crisis. Germany will assist Spain if they ask for a bailout, and that willingness to help is supporting the euro. “Gold and the precious complex have been held afloat overnight and this morning by a stronger euro,” Edel Tully, an analyst at UBS AG in London, wrote today in a report. “Gold's ability to stay buoyed today will be dependent on foreign exchange moves and risk appetite.”

Pimco’s Bill Gross, who oversees the management of more than $1.8 trillion, is moving his known investment focus from bond purchasing to dividend-paying stocks, which he believes may be a more favorable long term asset. Most recently, Pimco purchased additional Gold as a hedge against inflation, which other investors have also done, as the market watches the Federal Reserve freely print money to strengthen the United States economy.

Spain, the eurozone's fourth-largest country, is expected to request a full bailout. As of now, Spain has asked for support of its indebted banks, but if they call for a bailout the European Central Bank would step in to purchase its bonds. This was approved by the market earlier this year, but investors remain leery on the condition of Europe’s financial situation. “Progress towards banking and fiscal union remains predictably slow,” Capital Economics warned. “Against this background, the crisis looks likely to flare back up over the coming months, further darkening the economic outlook and maintaining a high risk of at least some form of fragmentation of the currency union.”

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

Gold, $1746.00, Up $0.20.
Silver, $32.96, Down $0.02.

Useful To Me Not Useful To Me

bsiong
Supreme

17-Oct-2012 08:55

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Gold Rebounds Following Large Range Down Day

Daily Bars eliottWaves_gold_body_gold.png, Gold Rebounds Following Large Range Down Day

Prepared by Jamie Saettele, CMT

LEVELS: 1691 1715 1729 1749 1757 1780

Useful To Me Not Useful To Me

bsiong
Supreme

17-Oct-2012 08:47

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

October 16, 2012 • 06:44:57 PDT

Gold Price To Reach $2500 An Ounce In 2013

Useful To Me Not Useful To Me

bsiong
Supreme

17-Oct-2012 08:46

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

October 16, 2012 • 14:21:39 PDT

China And The Recipe For $12,000 Gold

“The gold coverage ratio has risen above 100% twice during 20th century,” most recently at gold’s 1980 peak. “Were this ... Read More

Useful To Me Not Useful To Me

bsiong
Supreme

17-Oct-2012 08:39

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

October 16, 2012 • 13:42:24 PDT

Jim Rogers On Citigroup, Economy, U.S. Election

discuss the outlook for the economy, and the likely impact of the U.S. presidential election on investors. Read More

Useful To Me Not Useful To Me

bsiong
Supreme

17-Oct-2012 08:37

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Closing Gold & Silver Market Report – 10/16/2012

By Nicholas WilseyOctober 16, 2012

GOLD REBOUNDS EURO’S FUTURE DEPENDS ON GERMANY

After a four week low, Gold rebounded today on the news of a possible bailout for Spain, which caused the euro to gain value and in turn caused the dollar to slip. Historically, when the dollar goes down the price of Gold increases. “The Gold market experienced momentum-based selling but appears to have found a base” around $1,735, Australia & New Zealand Banking Group Ltd. (ANZ) analysts, led by Mark Pervan, reported.

The European Union has had its fair share of ups and downs over the past year. There have been many obstacles to overcome and many still in the way of a financial recovery in the region. One economist says that Germany must step up and lead the efforts or risk the downfall of the Union as a whole. “The way to escape it is for Germany to accept ... greater commitment to helping not only its interests but the interests of the debtor countries, and playing the role of the benevolent hegemon,” billionaire fund manager George Soros said on Monday.

As the United States election draws near, the economy is by far the number one topic of debate. Today’s reports from the Federal Reserve shone a positive light on the U.S. economy, as industrial production rose in September. Reports have shown that consumer spending and the housing markets have also improved. “The economy is regaining momentum it appeared to have lost in the spring,” said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh.

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

Gold, $1748.30, Up $11.20.
Silver, $32.99, Up $0.23.

Useful To Me Not Useful To Me

bsiong
Supreme

17-Oct-2012 00:09

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

October 16, 2012 • 06:44:57 PDT

Gold Price To Reach $2500 An Ounce In 2013

Useful To Me Not Useful To Me

bsiong
Supreme

17-Oct-2012 00:08

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

October 16, 2012 • 08:49:48 PDT

Old Shadow Chart - Cup And Handle Calls Out 2000+

Minimum up side target is 2,050 with a chance for 2,300 on this rally leg. Read More

Useful To Me Not Useful To Me

bsiong
Supreme

17-Oct-2012 00:06

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Last Updated : 16 October 2012 at 19:15 IST

BMO Capital raises 2013 Gold, Silver price forecasts

Source :Commodity Online

NEW YORK (Commodity Online): BMO Capital Markets has raised its 2013 price forecasts for gold and silver by 14.7% and 11.4%, respectively.

The European Central Bank’s intentions to purchasesovereign debt and a new round of quantitative easing by the Federal Reserve that suggests “continued negative real interest rates and appeal for precious metals as a store of value,” the Toronto based firm added.

BMO Research said that, it now expects the gold price to average $1,950 an ounce in 2013 and break the psychological barrier of $2,000 within the next year. Silver is expected to average $39 an ounce next year.

“They continued that, “for both metals, long-term prices have been increased to account for escalating capital and operating costs.”

BMO Research’s revised 2013 metal price forecasts imply a gold-to-silver ratio of 50:1, compared to the current 53:1. The 30-year historical gold to silver ratio is 55:1.BMO forecasts $1,650 platinum, $725 palladium and $1,200 rhodium next year.

Useful To Me Not Useful To Me

bsiong
Supreme

17-Oct-2012 00:03

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Last Updated : 16 October 2012 at 21:25 IST

Recent Gold correction may not be over: HSBC

Source :Commodity Online

NEW YORK (Commodity Online): The recent correction in gold prices may not yet have run its course, but further falls may well attract institutional buying, said HSBC Holdings plc (HSBC) in a commodity snippet.

According to the British bank, yellow metal tumbled on Monday in response to strong US retail sales data, a firmer US dollar and liquidation by macro hedge funds.

The decline came after the market was unable to hold over $1,790 an ounce and rechallenge $1,800. “Further disappointed selling is possible, and prices could drop closer to $1,700 an ounce in the near term,” HSBC added.

SPDR Gold Shares, the largest gold exchange-traded fund, reported a drop in gold holdings of more than 6 metric tons.

“That said, we suspect that even if gold does fall further, longer-term institutional players may enter the market as buyers and stabilize prices,” HSBC concluded.

Global gold prices are modestly higher in early trading on Tuesday, supported by some bargain hunters stepping in to buy the dip in prices.

A weaker U.S. dollar versus the other major world currencies is also supportive for the yellow metal in early trade on Tuesday.

December gold last traded up $6.30 at $1,743.90 an ounce on the Comex division of the New York Mercantile Exchange. Spot gold was last quoted up $4.70 at $1,742.75. December Comex silver last traded up $0.252 at $32.995 an ounce.

Useful To Me Not Useful To Me

bsiong
Supreme

17-Oct-2012 00:00

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Morning Gold & Silver Market Report – 10/16/2012

By Ryan SchwimmerOctober 16, 2012

EURO RALLIES ON NEWS OF POSSIBLE SPANISH BAILOUT

Precious Metals are regaining lost ground from yesterday as the euro strengthens against the dollar. News reports in Europe suggest that Spain is considering formally asking for assistance from the European Union’s bailout fund, which is causing the euro’s rally. Some analysts say that Spain’s prior refusal to formally request assistance is hindering the impact of the European Central Bank’s bond-buying plan. Jeremy Stretch of CIBC in London said, “The longer Spain attempts to ‘game the market,’ with talk of action, the lower the likely (post-ECB bond-buying) announcement bounce the euro is likely to see.”

Technical analysts still believe that $1,800 is the key price level for Gold. A CNBC chart suggests that if Gold can breach the $1,800 level, it could eventually pass $1,900. There are a number of key resistance levels Gold would have to break through, but if this happens, analysts are describing the rally that would follow as “fast.” BNP Paribas analyst Anne-Laure Tremblay said, “Gold rose sharply from mid-August onwards on expectations of a further round of quantitative easing in the U.S. Since mid-September, the upward trend (has) stalled alongside renewed concerns about weak economic growth, particularly in China. Uncertainty surrounding the eurozone sovereign debt crisis is also weighing on sentiment.”

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

Gold, $1,743.10, Up $6.00.
Silver, $32.98, Up $0.22.

Useful To Me Not Useful To Me

bsiong
Supreme

16-Oct-2012 08:22

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Debt Crisis - As It Happened - October 15, 2012

Soros has warned a real danger that the " nightmare" euro crisis could destroy the European Union Read More

Useful To Me Not Useful To Me

bsiong
Supreme

16-Oct-2012 08:15

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

October 15, 2012 • 05:26:52 PDT

Gold And Silver Fall On Open In Asia As October Correction Continues

This correction should be used to further accumulate physical bullion in anticipation for a rally in gold after the elec... Read More

Useful To Me Not Useful To Me

bsiong
Supreme

16-Oct-2012 08:14

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

$Gold Price Seen Moving `Easily\' Above $2,000$

October 15, 2012 • 06:17:28 PDT

Gold Price Seen Moving `Easily' Above $2,000

Frank Holmes, chief executive officer of U.S. Global Investors Inc., discusses the outlook for gold. Read More

Useful To Me Not Useful To Me

bsiong
Supreme

16-Oct-2012 08:12

bsiong About Contact Quote this Post! Style: Combined Mood:

Yells: "The Greatest Wealth is Health"

x 0
x 0

Alert Admin

Last Updated : 15 October 2012 at 10:45 IST

'Gold has potential to break all time high during December'

Source :Commodity Online

NEW YORK (Commodity Online): Gold has potential to break all time high of $1,921an ounce during December this year, according to Saxo Bank, a Danish investment bank.

According to the bank, gold investments through Exchange Traded Funds reached a new record during the week with more than 200 tons added since the rally resumed in mid-August once the price moved above $1,625an ounce.

Hedge funds and other leveraged investors only joined in following the break above that level but have since then added 380 tons. Physical demand from China and India, the two major buyers, has been subdued but a pick-up has been witnessed over the last couple of weeks while central bank buying, especially from emerging economies, is expected to reach a new record in 2012.

All in all we continue to see further upside potential for gold and to a lesser degree silver as reduced demand from industrial users increases the pressure on financial investors to keep the supply surplus down, the Copenhagen based bank added.

“With the open ended nature of quantitative easing, part three, we see the potential for gold reaching the 2011 high at $1,921/oz during December following an initial period of consolidating as $1,800 offers strong resistance. Into 2013 the rally may eventually take us up and above the physiological barrier of $2,000 before reaching a technical target of $2,075,” they noted.

The absolute line in the sand below is now $1,500 but we expect technical support at the 200-day moving average, currently at $1,659, will hold off any downside attempts, Saxo Bank concluded.

Useful To Me Not Useful To Me

First < Newer 1521-1540 of 4402 Older> Last

ShareJunction Version: 27 Nov 2020 ver- All Rights Reserved. Copyright ShareJunction Pte. Ltd. Disclaimer: All prices from are delayed. ShareJunction does not provide you with any financial advice. We are not into the business of providing any investment advice. See our Terms and Conditions and Privacy Policy of using this website. Data is delayed for varying periods of time depending on the exchange, but for at least 15 minutes. Copyright © SIX Financial Information Ltd. and its licensors. All Rights reserved. Further distribution and use by third parties prohibited. SIX Financial Information and its licensors make no warranty for information displayed and accept no liability for data and prices. SIX Financial Information reserves the right to adapt and/or alter this website at any time without prior notice.

Web design by FoundationFlux. Hosted with Signetique Cloud.