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 [...]
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, [...]
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 [...]
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 [...]
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 [...]
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 [...]
Bank Negara has been asked to do a study on enacting a new law to govern trading in the gold and silver markets, saidDeputy Finance Minister Datuk Donald Lim Siang Chai. He said the Government was concerned about the public’s exposure to the risk in gold and silver investments. Speaking at a press conference after [...]
With gold prices showing no signs of easing and silver prices not having found a comfort zone yet among buyers, traders say that weddings this season aren’t as glittery. Traders in the jewellery business describe a changing purchasing pattern due to the high cost of gold and fluctuating cost of silver, that has caused the volumes and [...]
Gold futures dropped below $1,700 an ounce on Friday, as the U.S. dollar rose against other major currencies and stock futures pointed to opening losses for Wall Street. Gold for December delivery fell $17.10 to $1,678.80 an ounce in electronic trading on Globex. The losses came as the dollar index, which tracks the performance of [...]
Gold slipped by Rs 323 per grammes (g) to close at Rs 47,742 per 10g in the local market Friday, as its international price also dropped to $1,678 an ounce, market sources said. According to Karachi Saraf Association, tola (11.664 g) price also declined by Rs 400 to close at Rs 55,700 per tola.
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