After a 20% fall in September, the technical picture for gold is improving. In September, gold touched a record nominal high just above $1,920, but quickly fell to about $1,540. The move scared speculators and offered a great buying opportunity for those wishing to invest in gold. Now, gold prices have recovered to $1,750. The [...]
The spectacular bull run in gold prices is unlikely to end soon, with bullion retaining its appeal in 2012 due to the uncertain global economy, analysts and industry officials said on Friday. Gold’s growing allure for buyers ranging from central banks to retails investors will provide a cushion for prices, even if the euro zone ended its debt [...]
The release of last week’s IMF statistics for October revealed a continuation of central bank appetite for Gold with net purchases of just over 20 tonnes. A number of existing buyers, such as Russia, added to holdings (a sizeable 19.5 tonnes), said Barclays Capital in a research note. According to Barclays, data to October shows Russia has increased [...]
Central banks of the US, Europe and Japan announced on Wednesday that they would act jointly to provide the Euro zone with cheap access to the dollar in order to help the European banks which face a credit crunch. The central banks have reduced their rates by 50 basis points for the dollar swaps. As [...]
The growing demand for Gold bars and coins reflects safe haven demand, while exchange-traded fund buying in November has recorded inflows, said Anne-Laure Tremblay, precious metals strategist at BNP Paribas. According to Tremblay, the sell-off in gold holdings may have occurred in the over-the-counter market, which is dominated by institutional participants. The decline in exposure [...]
Gold prices have softened of late, but reasons for buying gold haven’t changed, says Adrian Day, president of investment firm Adrian Day Asset Management. He tells Marketwatch’s Jonathan Burton that political and economic concerns will fuel gold prices.
India, the world’s largest gold consumer, could import a record 1,000 tonne this year, says Rajan Venkatesh , managing director, ScotiaMocatta, in a chat with ET’sRam Sahgal . Are imports likely to touch last year’s record 958 tonne despite high prices? Yes, in quantity terms there has been an increase of about 5% over the last year. Overall, if demand emerges [...]
The price of gold is due for a correction and this could be used as an entry point by investors eager to get exposure to the precious metal, while the dollar is likely to strengthen as there has been too much pessimism about it, famous investor Jim Rogers told CNBC Tuesday. Gold hit record after record [...]
According to Dundee Securities, gold equities and bullion have provided a safe haven over the last few months and are expected to continue doing so into 2012 Gold and gold equities have, since July, performed remarkably well as a safe haven and, according to Dundee Capital Markets, they are likely to continue playing that role [...]
Sentiment conditions continue to support higher gold prices. It was one month ago that I last devoted a column to gold market sentiment, reporting that bullishness had dropped to its lowest level in two-and-a-half years. Though gold did rise $150 an ounce over the subsequent two weeks, bullion today is only modestly higher than then. [...]
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