Gold , Silver , oil Latest Updates

How Gold will perform this year.

2017-07-08T22:01:00.000-07:00

Gold production in many countries, especially in developing or emerging markets, has declined in recent years as the global economy has largely improved since the global financial crisis. Many mining operations have shut down or downsized significantly.

Gold Prices May Fall as US Jobs Data Stokes Fed Rate Hike Bets

2017-07-08T21:54:00.000-07:00

Gold price selloff may restart as US jobs data stokes Fed rate hike bets.
Gold prices paid little attention to the mixed bag of US data releases yesterday, opting to consolidate in a now-familiar range that has contained prices following a sharp plunge earlier in the week. The ADP estimate of US jobs growth undershot expectations but the ISM measure of service-sector activity growth vastly outperformed,

Gold Price Projection.

2017-02-15T23:27:00.001-08:00

Gold Price is down as Oil is raising.

2016-11-30T06:34:00.001-08:00

Gold moving Down as Clinton clear email from FBI.

2016-11-07T08:39:00.002-08:00

Gold falls on increased risk appetite, US elections continue to drive sentiment

Gold is under modest pressure

2016-03-09T04:45:00.002-08:00

Gold could jump this year

2015-11-16T08:20:00.001-08:00

Four reasons one investor thinks gold could jump this year.

As such, a death cross for the dollar is often seen as good news for gold. There is an “80% chance gold will turn up” in such cases

Gold price edges higher, softer dollar supports

2015-10-15T11:34:00.002-07:00

Gold prices closed above $US1,200

2015-01-05T21:51:00.000-08:00

Gold prices closed above $US1,200 an ounce for the first time in two weeks Tuesday, helped by a wave of political uncertainty in Greece and a weaker US dollar.

helped by a wave of political uncertainty in Greece
Currently, gold trades at USD 1193.40/Oz, up 0.61% on the day, close to day's high at USD 1194.10/Oz hitsome minutes ago.

Gold Price for 13-02-2014.

2014-02-15T00:40:00.002-08:00

Gold Price - Here are their 6-month charts.

2013-09-13T07:53:00.001-07:00

Gold closed below its 50-day moving average yesterday, but silver still has a ways to go [but not much after this morning's Far East and London price action]. Here are their 6-month charts.

Silver Price Sep-2013 - Silver is Ruling the investment.

2013-09-10T08:57:00.002-07:00

Weekly Metals Wrap

Gold Price Graph-07-09-2013

2013-09-07T00:57:00.002-07:00

Gold Analysis August 30, 2013 Forecast

2013-08-30T10:08:00.001-07:00

Gold Price Chart of week

2013-08-30T01:10:00.002-07:00

The gold price has exploded in India since the low hit on June 28th, increasing a whopping 30% in the span of only 2 months! The culprit is likely the rupee collapse, which has been equally as stunning, falling by 15% against the dollar over the same time period. Further contributing to the increase in the gold price has been the escalating tension in the Middle East that has driven demand for safe haven assets.

Silver Price Aug-23 Graph

2013-08-25T01:38:00.001-07:00

Gold Price Graph-23-08-2013

2013-08-24T00:47:00.000-07:00

India mulls leasing of IMF-bought gold

2013-08-22T02:22:00.002-07:00

The Indian government is deliberating whether or not to lease the 200 tonnes of gold it bought from the International Monetary Fund in the international market to earn dollars.

The Reserve Bank of India (RBI) purchased the gold from the IMF for an estimated price of around $6.70 billion in 2009, and under the IMF’s limited gold sales programme.

"The deal was misinterpreted by many at that time, that it could further inflate the gold price, when the price was already at a ruling high. India’s purchase of gold was a reserve management strategy,'' a banking official told Mineweb. He added that globally, central banks were showing an increased interest in diversifying their holdings, to protect against a slumping dollar.

This story was posted on the mineweb.com Internet site earlier this morning...and I happened on it just before I hit the 'send' button on today's column.

Gold Price chart 16-08-2013

2013-08-16T06:36:00.001-07:00

Gold Price Grpah 13-08-+2013

2013-08-14T03:30:00.001-07:00

Here's the 6-month gold chart, and it looks very much like JPMorgan is painting the chart to look as if the gold price is 'rolling over' at the 50-day moving average. As I said last week, they could hit the gold price for $100 if they wanted to, and silver for a buck or so. But can they, or will they? I don't know, but the chart appears to be painted to look like that outcome is inevitable. We'll see.

Gold Price forecast 2013

2013-03-13T09:04:00.001-07:00

Gold price - Gold and Silver charts: an update

2013-02-19T09:44:00.000-08:00

Gold and Silver charts: an update

GOLD- India hikes import duty.

2013-01-21T22:52:00.002-08:00

The government today hiked the import duty on gold and platinum to 6 percent from 4 percent with immediate effect - a move aimed at curbing imports of the precious metals to check the widening current account deficit .

"Government has decided to increase import duty on gold and platinum from 4 percent to 6 percent with immediate effect," Department of Economic Affairs Secretary Arvind Mayaram told reporters.

He further said the government will link Gold Exchange Traded Fund (ETF) with gold deposit scheme, which will enable mutual funds to unlock their physical gold and invest in gold- linked schemes offered by banks.

"The changes proposed to the Gold deposit scheme will make it attractive for individuals to deposit their idle gold with the banks under the Gold deposit scheme," Mayaram said.

He said the changes would help moderate import of gold and help in bridging the current account deficit (CAD).

Gold imports in 2011-12 amounted to USD 56.5 billion and in the current financial year, till December, they are estimated at USD 38 billion.

Mayaram further said that the government will effect consequential changes in the additional customs duty and excise duty on gold dore bars, gold ores and refined gold.

"The duties will be reviewed after sometime if there is a moderation in the quantity of gold that is imported into the country," he said. Gold was trading at Rs 30,935 per 10 grams today.

The move to link Gold ETF with deposit schemes will help increase physical availability of gold in the market, as a part of the gold lying in stock will be brought into circulation meeting the demand of gems and jewellery trade.

"Consequently, there will be a moderation in the quantity of gold that is imported into the country," Mayaram said. He said the minimum quantity of gold that may be deposited into the Gold deposit scheme would be reduced and the minimum tenure would be brought down to six months, from the present three years.

Market regulator Sebi and the Reserve Bank will come out with notifications on Gold ETF and gold deposit schemes in two to three weeks. Gold ETF is provided by Mutual Funds (MF), in which the units are backed by physical gold held by the MFs.

Gold deposit schemes are offered by a number of banks, in which gold deposited by client is lent by the banks to the gems and jewellery trade.
The announcement, which follows concerns expressed by Finance Minister P Chidambaram over rising imports of gold, comes nearly a month before the Union Budget on February 28.

Traditionally, India has been the world's largest consumer and importer of gold. Outflow of the foreign exchange on gold imports is impacting country's CAD, which has widened to USD 38.7 billion or 4.6 per cent of the GDP in the first half of the current fiscal.

Gold price in 2013 Rising investment demand impacts.

2013-01-16T22:51:00.002-08:00

Investment demand is set to drive gold in the first half of the current calendar year on loose monetary policies and burgeoning sovereign debt across global economies. Global consultancy firm Thomson Reuters GFMS in its latest Gold Survey 2012 forecast average gold price to rise to $1800 an oz for first half year ending June 2013.

According to Kitco.com, the forecast consists of 6.7% rise from the level of $1686.85 an oz average price recorded in the second half of 2012 and over 9% spurt from $1650.80 an oz the yellow metal had recorded in the comparable period last year.

Gold is likely to range-bound in the market on Tuesday.

2013-01-11T22:24:00.001-08:00

Gold is likely to range-bound in the market on Tuesday as it could be caught between price rebounding in the global market and a drop in the dollar.

In early Asian trade, gold increased to $1,653.05 an ounce after having dropped below $1,650 in overnight trade. Gold for delivery in February, however, was quoted at $1,648.80.

The yellow metal gained in Asia on signs of buying by China that is fast turning out to be the biggest buyer in the global market.

On the other hand, the dollar dropped against the basket of currencies. A falling dollar makes imports of commodities such as gold, crude oil and vegetable oil cheaper.

In the domestic market on Monday, gold for jewellery (99.5% purity) was up at 30,650 for 10 gm, while pure gold (99% purity) closed higher at Rs 30,790.

The oils and oilseeds complex is likely to gain as soyabean increased on the Chicago Board of Trade overnight on fears that reserves held by the US dropped to a nine-year low following a drought that is seen as the worst in the last 50 years.

Soyabean for delivery in March was up at $13.88 a bushel.

Crude palm oil on Bursa Malaysia Derivatives Exchange closed lower than $800 a tonne on Monday for the active March contract. It ended at 2,418 ringgit ($795.52) a tonne.

The grains complex is likely to see a rise on the heels of reports of fall in US reserves.

On CBOT, wheat for delivery in March ended at $7.52 a bushel, while corn for delivery the same month closed up at $6.85 a bushel.

Crude oil and natural rubber will likely gain on global cues. Crude oil opened higher in Asian trade on reports of higher refinery operation.

Brent crude oil for February was up at $111.43 a barrel, while NYMEX crude ended higher at $93.17 a barrel.

This could see natural rubber up as its alternative synthetic rubber derived from crude oil will quote higher.

Keywords: gold prices, Chinese buying, rupee dollar movement, Chicago Board of Trade, oilseeds, Brent crude oil, NYMEX crude