Gold ETF’s witnessed healthy trends so far this year as investors sought a haven amid Europe’s debt crisis and falling currencies. Gold ETF holdings rose 0.4 per cent to 2,324 tonnes, as of November 16. In India, gold ETF’s continued to perform positively as investors go for it even as physical gold buying dips sharply [...]
Gold imports are likely to reach 1,000 tonne due to growing investment demand, while prices might touch USD 2,000 by March 2012 driven by global economic crisis, a senior SocotiaMocatta official today said. “Investor demand has compensated the decline in the jewellery consumption. The rising gold prices, which has boosted the investors appetite, may result in close to [...]
With the worsening Eurozone crisis and the failure of government to manage the U.S. debt responsibly, markets are fearful of a meltdown. Traders are driving prices down in the knowledge that many positions are geared [leveraged] and exposed to margin calls. Other positions are protected by ‘stop loss’ instructions, so can be triggered by prices [...]
Gold fell on Friday, coming under pressure from the weakness in the euro on the back of the discord among European leaders on how to contain the debt crisis, in spite of global holdings of metal in exchange-traded funds hitting a fresh record high. Yields on Italian 2-year bonds rose to fresh euro-area highs, in [...]
The US government’s announcement Monday that it’s bi-partisan, deficit reduction “Super” committee had failed to meet its target of $1.2 trillion in deficit cuts helped push confidence in Washington and stocks in the US lower. This move is understandable given the pre-existing concerns about the country’s ability to repay its debt as well as the [...]
Gold sales declined by half over the past fortnight, as consumers shied away from fresh purchases in anticipation of a further price decline. Scrap recovery, however, surged by 10 to 15 per cent, as consumers felt the current high price was an opportunity to cash in on their holdings. “Purchases have dried up as consumers [...]
(Commodity Online): Precious metals prices have remained under pressure this week as the dollar has strengthened, equity markets have weakened and economic insecurity has heightened over the US, Europe and China, said Barclays Capital in a briefing. Gold prices slipped below $1700/oz and although physical demand responded to lower prices it has failed to provide [...]
Price of gold has decreased by Rs 500 per tola. According to All Pakistan Jewellers and Gems Association, price of 10 gram gold has become Rs 48,428 with cut of Rs 428 while price of one tola has become Rs 56,500. In the world market, price of one ounce gold was recorded by decrease of [...]
Global holdings of gold in ETFs, one gauge of investment demand, have risen by more than 300,000 ounces this week to hit an all-time high of 69.978 million ounces, following hefty inflows into large U.S. funds such as the SPDR Gold Trust, the world’s largest, and COMEX Gold Trust. UBS said purchases of gold by [...]
Analysts at Barclays remain bullish on the price of gold and gold coins. The investment advisory firm issued a report last week saying gold near $1725 per ounce could see renewed buying to push the price of the precious metal well over over $1840 per ounce in the medium term. Gold closed last week at [...]
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