(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 [...]
Nov 27 2011 | Posted in
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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 [...]
Nov 27 2011 | Posted in
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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 [...]
Nov 27 2011 | Posted in
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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 [...]
Nov 27 2011 | Posted in
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Market experts have not exactly been unanimous; nevertheless, the consensus has been that, in the long term, gold will continue its current 11-year bull run, with 2012 seeing prices of $2000 and beyond. The last few months have seen many corrections in the precious metals market but gold has risen some 18% this year alone, [...]
Nov 27 2011 | Posted in
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Gold prices are likely to fall more than 3.5 per cent from its peak after a 16 per cent rally last quarter as investors resort to year-end profit-taking while tepid wedding demand weighed, a poll of banks and brokerages found. The most-active gold for December delivery on the Multi Commodity Exchange (MCX) struck a peak [...]
Nov 27 2011 | Posted in
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Tracking a weakening global trend, gold prices fell by Rs 144 to Rs 28,725 per 10 grams in futures trade today as speculators off-loaded their positions driven by a weak global trend. Trading a sentiment turned bearish after gold declined in global markets as deepening euro zone debt crisis shifted investors demand from bullion to [...]
Nov 26 2011 | Posted in
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Gold futures ended lower Friday, as gains for stocks and oil futures fizzled and a rising U.S. dollar kept the metal under $1,700 an ounce. Gold for December delivery retreated $10.20 or 0.6%, to settle at $1,685.70 an ounce on the Comex division of the New York Mercantile Exchange. On the week, gold lost 2.3%. The [...]
Nov 26 2011 | Posted in
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Gold Prices were headed for a second weekly drop Friday lunchtime, after falling as low as $1672 per ounce – 7.2% down on its November high – while stocks, commodities and government bond prices also fell as Belgium became the latest country to be sucked into the European sovereign bond crisis. New York’s Comex Gold Futures [...]
Nov 26 2011 | Posted in
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Gold prices extended losses on profit-booking in Friday’s trade at the domestic bullionmarket amid lower buying interest from jewellers and stockists on the back of falling European market. Silver also witnessed heavy speculative sell-off following reduced industrial offtake. Standard gold (99.5 purity) dropped by Rs 225 per 10 grams to finish at Rs 28,415 from Thursday’s [...]
Nov 26 2011 | Posted in
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