Information of derivative market

Spot Gold Up 0.5%; Europe in Spotlight

2011-10-09T23:41:00.001-07:00

By: Reuters With AP

Spot gold rose half a percent on Monday, rebounding from the previous session's decline triggered by the credit downgrades of Italy and Spain, as investors continue to watch the debt crisis unfold in the euro zone.

altrendo images | Getty Images

Spot gold [XAU= 1650.09 12.57 (+0.77%) ]gained nearly half a percent to $1,645.49 an ounce by 0011 GMT, after rising about 0.9 percent in the previous week.

U.S. gold [GCCV1 1653.00 17.20 (+1.05%) ]rose 0.7 percent to $1,647.70.

The credit downgrades of Italy and Spain triggered a sell-off in gold in Friday's session, as investors scrambled to cover losses in equities.

The leaders of Germany and France have promised to unveil new steps to solve the euro zone's debt crisis by the end of the month, as pressure builds for bold steps from Europe to avert a global economic backlash.

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U.S. employers hired more workers than expected in September and job gains for the prior two months were revised higher, easing recession fears.

Investors are eyeing this week's data, including minutes of the Federal Reserve's Sept. 20-21 meeting; weekly filings for jobless benefits; and retail sales and consumer confidence numbers for September.

Money managers, including hedge funds and other large speculators, scaled back bullish bets in gold futures and options for the eighth time in nine weeks, as bullion deepened its correction from its record set early September.

Technical 10 0ct afternoon

2011-10-09T23:33:00.000-07:00

GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1620.00
Our Preference: LONG positions above 1620 with 1680 & 1700 as next targets.
Alternative scenario: The downside penetration of 1620 will call for 1600 & 1555.
Comment: supported by a rising trend line.

Gold Settles Up at $1,622, Set for Third-Quarter Gain

2011-09-30T22:42:00.001-07:00

By: Reuters

Gold rose Friday on lingering worries of a global economic slowdown, and the price of bullion notched its biggest quarterly gain of this year even after a sharp pullback from a record hit this month.

Jose Luis Pelaez | Iconica | Getty Images

Gold posted a quarterly gain of 8 percent—its biggest this year, despite a drop of 11 percent for September—its largely monthly decline in three years.

For the day, gold finished higher as safe-haven buying resumed despite a rising dollar. Equities and industrial commodities fell after data showed manufacturing in China contracted for a third consecutive month in September.

"I think the correction has run its course. For the first time in quite some time, we actually bought some gold and platinum exchange-traded funds today," said James Dailey, portfolio manager of the TEAM Financial Asset Management.

Spot gold [XAU= 1622.95 -0.30 (-0.02%) ] was up 0.5 percent at $1,623.10 an ounce.

U.S. gold futures for December delivery [GCCV1 1622.30 5.00 (+0.31%) ]settled up 30 cents at $1,622.30 an ounce, with trading volume sharply below this week's average as some bullion traders were away for the Jewish New Year holiday.

Gold Holds Gains; Heads for Worst Month Since 2008

2011-09-29T23:14:00.000-07:00

By: Reuters

Gold ticked up on Friday, having gained in the previous session on German approval of a stronger bailout fund to counter the euro zone debt crisis, but the metal was heading for its worst monthly decline in three years.

Jose Luis Pelaez | Iconica | Getty Images

Spot gold [XAU= 1626.6899 12.64 (+0.78%) ]added $7.79 an ounce to $1,621.84 an ounce by 0043 GMT. Despite the gain, prices were headed for of 11 percent, their worst since October 2008 when they tumbled 17 percent following the collapse of Lehman Brothers.

Gold rallied to a lifetime high around $1,920 an ounce in early September.

U.S. gold [GCCV1= Unavailable () ] rose $7.2 an ounce to $1,624.50 an ounce.

German Chancellor Angela Merkel won a vote on enhancing the euro zone's bailout fund without needing to rely on the opposition, a senior member of Merkel's CDU party said on Thursday.

The euro clung to modest gains in Asia on Friday, following a brief boost after Germany approved an expansion of the euro zone bailout fund, but investors remain worried due to the many hurdles ahead of a workable resolution to the European crisis.

Gold Falls 1% on Rising Dollar, Growth Fears

2011-09-29T03:24:00.000-07:00

By: Reuters

Gold extended losses and dropped more than 1 percent on Thursday as investors turned to the safety of the U.S. dollar on uncertainty about a resolution of Europe's debt crisis that has stirred up fears for global growth.

Don Farrall | Getty Images

Stocks fell in Asia, copper futures dropped more than 5 percent and oil slid more than $1 on mounting worries that Europe's debt problems will plunge the world economy into a second financial tailspin.

Spot gold [XAU=  1617.10    9.20  (+0.57%)   ] lost $3.55 an ounce to $1,604.35 by 0221 GMT, having fallen to a low around $1,582. It had plunged to a two-month low of $1,534.49 on Monday -- down from a lifetime high around $1,920 an ounce struck in early September.

"The dollar is likely to strengthen on a broad scale, at least short-term. That's definitely going to be weighing on performance. Closer to the 200-day daily moving average, we should find the bottom and I think that's still there," said Dominic Schnider, an analyst at UBS Wealth Management.

"But I am confident that with lower prices, you are going to see very strong jewelry offtake, especially as we head towards Diwali on October 26," said Schnider, referring to the Hindu festival of lights in main gold consumer India.

U.S. gold futures [GCCV1  1616.90    -1.20  (-0.07%)   ] fell $9.4 to $1,608.7 an ounce.

The uncertainties about global economic growth, mainly   sparked by the lack of consensus on a lasting solution to the   euro zone debt crisis, have driven gold prices to record highs since July.

But declines in other markets prompted speculators to cash in to cover losses, and investors were spooked by a revolt within the government of German Chancellor Angela Merkel ahead of a vote to expand Europe's bailout fund on Thursday.

The euro was under modest pressure in Asia on Thursday on profit taking and squaring of positions following a large three-day rally, with investors still worried about the European debt crisis ahead of the vote in Germany.

Lower gold prices stirred up buying in Asia, sending premiums for gold bars to their strongest since at least February in Singapore and Hong Kong. In India, the premiums jumped to their highest in a year.

Information of derivative market

Spot Gold Up 0.5%; Europe in Spotlight

More on CNBC.com

Technical 10 0ct afternoon

GOLD (Spot) intraday: the bias remains bullish.

Gold Settles Up at $1,622, Set for Third-Quarter Gain

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Gold Holds Gains; Heads for Worst Month Since 2008

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Gold Falls 1% on Rising Dollar, Growth Fears

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