3 April 2014 - Japan Gold Sales Jump 249% |
- 3 April 2014 - Japan Gold Sales Jump 249%
- 3 April 2014 - Ban on gold import to go soon
- 3 April 2014 - 黄金的独特性因其价格不受供需关系影响
- 2 April 2014 - What Makes Gold Totally Different From Everything Else?
- 1 April 2014 - Gold prices higher in Asia as dollar mixed
- 1 April 2014 - 印度财长：政府考虑与央行协商放宽黄金进口管制
| 3 April 2014 - Japan Gold Sales Jump 249% Posted: 03 Apr 2014 03:11 AM PDT From: http://www.gold-eagle.com/article/japan-gold-sales-jump-249 By Jan Skoyles, 3 April 2014, 6:16 PM GMT+0800 Recently the gold price hit a new seven-week low and hence posted its first monthly drop of 2014. Bullion is out of favour at the moment thanks to riskier assets such as equities gaining popularity. A rally in equities markets, in both 2013 and into 2014 has seen demand for gold bullion fall. Gold has remained under pressure in the last month thanks to strong US data and comments from Janet Yellen, over the possibility of increasing interest rates in 2015. Whilst China's gold demand has been weak recently and Shanghai prices have been trading at a discount to global spot prices, there are signs that demand has been picking up over the last few days. For instance, last week gold for immediate delivery, in Shanghai was at a discount of £1 yesterday, compared to $8 just a week earlier. Yesterday the world's largest gold ETF, the SPDR gold trust, saw holdings fall 3.89 tonnes to 813.08 tonnes. This was the largest outflow in more than a month. Precious metals experts Edel Tully and Joni Teeves at UBS, believe the gradual fall in the gold price (around $100 in the last fortnight) is an encouraging sign. How can any fall in the gold price be encouraging? Whilst the gold market has become 'increasingly vulnerable for a washout' the analysts believe that the correction 'has been relatively orderly' thanks to 'the hawkish tilt from the FOMC combined with easing safe haven demand.' As the World Gold Council illustrated in a report last week; there is a gradual shift in the sentiment around gold and an acknowledgement that gold investment is a good way to have some portfolio diversification and to 'insure against tail risks.' Five-fold increase in gold demand for March Yesterday we reported on a jump in gold sales, in Japan, thanks to an upcoming increase in sales tax. According to Bloomberg Japan's biggest bullion retailer, Tanaka Kikinzoku has reported a fivefold increase in gold demand, in the first 27 days of March. Bloomberg reports, 'sales for the quarter through March 27 were 249 percent higher than the same in three months in 2013.' Not only has the impending tax rise spurred sales, but so has the decline in the gold price. A mixed bag of precious metals The silver price also finished March with its biggest single price drop, since November 2013. Last month it fell by 7%. This is disappointing given its near 16% climb earlier this year. With even the most active contracts down 6.5%, year-to-date and quarterly gains are just 2.5%. The platinum price also suffered in March, however not to the extent seen by both gold and silver. The industrial precious metal fell by 1% last month, its first monthly loss since November 2013. The palladium price, however, tells a completely different story to that of its contemporaries. Last month the metal gained 4.4% thanks to worries over upcoming sanctions on Russia and the strikes in South Africa; both of which are likely to see supply tighten. Source:http://www.gold-eagle.com/article/japan-gold-sales-jump-249 |
| 3 April 2014 - Ban on gold import to go soon Posted: 03 Apr 2014 03:01 AM PDT From: http://www.thenews.com.pk/Todays-News-3-241818-Ban-on-gold-import-to-go-soon By Shahnawaz Akhter, Thursday, April 03, 2014 6:19PM GMT +0800
KARACHI: The government will soon lift ban on gold import, as the exchange rate has significantly improved during the last few weeks, Engineer Khurram Dastagir Khan, federal commerce minister, said on Wednesday. Talking to newsmen after meeting with members of the Karachi Chamber of Commerce and Industry (KCCI), he said: "As the rupee is stabilising, we are considering opening gold import very soon." The Economic Coordination Committee of the Cabinet, whose meeting is scheduled for the third week of April, will decide about lifting the ban on gold import, he said. The government imposed ban on gold import to strengthen the foreign exchange position of the country and to support the local currency value. The minister also said that the exports of value-added products of gold are also showing encouraging signs for the last six months. Earlier addressing the KCCI members, the federal minister said that around 85 trade concessions had already been given to India and talks are going on to further liberalise the trade. He; however, said: "Decisions were taken in doubts." The minister said that after assuming the charge several meetings were held with representatives of the business community but they were pessimistic. "We have to decide with open heart." The business community should come forward with an aim to capture Indian markets. There is no growth without risks." He said the government is focusing on the economic revival of the country and taking measures to address major challenges, including terrorism and energy. Khan advised the business community to focus on value addition and manufacture products as per the demand of the global markets. "There is demand in the international markets and it is now our role to meet their requirements," he added. About sales tax refunds, he said, the claims of up to Rs1 million will be released by the middle of April to around 36,000 claimants. Regarding GSP Plus, Khan said that it was granted for 10 years and exporters had to take maximum benefits from it. Responding on exporters losses after the rupee appreciation, he said that the government is considering giving incentive for their encouragement. In his address of welcome, Idrees Memon, vice president of the KCCI, urged the minister to take the business community on board, while deciding about the trade liberalisation issue with India. Source: http://www.thenews.com.pk/Todays-News-3-241818-Ban-on-gold-import-to-go-soon |
| 3 April 2014 - 黄金的独特性因其价格不受供需关系影响 Posted: 03 Apr 2014 02:56 AM PDT From: http://finance.ifeng.com/a/20140403/12040328_0.shtml 2014年04月03日 09:54 来源：FX168外汇宝 黄金或许是全世界唯一一个不符合供需和价格关系的东西。
Source: http://finance.ifeng.com/a/20140403/12040328_0.shtml |
| 2 April 2014 - What Makes Gold Totally Different From Everything Else? Posted: 02 Apr 2014 09:45 AM PDT OP/ED | 4/01/2014 @ 12:12PM Gold is unlike every other commodity known to man. No, it's not just that gold is shiny, malleable, or can be hammered into very thin sheets. Nor is it just that the metal is surprisingly heavy—a bar the size of your iPhone is about a kilogram or 2.2 pounds. The reason is not that gold is scarce (it's not all that scarce). I refer to a unique property of gold that is man-made. Nearly every ounce of gold ever mined is still in human possession. Think about that for a minute. Do we accumulate other commodities like that? Let's consider wheat. Wheat goes bad, so accumulating this grain is pointless. The farmers understand this. When they plan their crops, they estimate how much bread people will likely eat. They plant just enough to supply that need. But suppose the sun and rain are perfect one year, and they have a bumper crop. To sell more bushels, they have to cut the price. People don't eat more bread, just because the price is lower. Therefore, wheat will have to go into lower uses. For example, wheat could substitute for the starch filler normally used in pet food, and then perhaps even go into wallpaper paste. Price is set by the lowest use. Once the need for bread is sated, wheat is pushed into lower uses. This is why an increase in supply causes a decrease in price. OK, this is how it works for foods. Let's look at a different commodity, platinum. At first glance, it seems like it has a lot in common with gold. It's a shiny, heavy, rare, and expensive metal too. However, it doesn't work like gold. It works like wheat. There is a particular demand for platinum in catalytic converters, electronics, and jewelry. Mining companies have invested in enough mines to meet that demand. If the mine workers suddenly go on strike, then the price of platinum rises. The lowest user will have to find a substitute. Many products that contain platinum use very little, so the cost of platinum is a very small percentage of the total. Platinum may have to spike up, in order to force users to switch to palladium or another metal. In the wheat example, excess supply is dumped onto the market. The price falls and wheat descends to lower uses. In platinum, it's the opposite case. A shortage restricts the metal supply. The higher price rations the metal to higher users, and the lowest users are priced out of the market. Gold is different. With gold, there is no such thing as a glut. The market is ready to absorb whatever new metal comes out of the ground. In fact, it has been absorbing it for thousands of years. Unlike with wheat or platinum, the price of gold has almost nothing to do with the quantity produced. This is because gold is not purchased for consumption. If you're an eater of bread or a user of platinum, the price you pay matters. By contrast, gold is purchased as a store of wealth that has no risk of default. There aren't higher or lower uses of gold. The use is always the same—as money. Gold serves this purpose equally well at $1,300 or $130,000 per ounce. Everyone has seen a graph of the supply and demand curve. Price moves up when supply goes down, and vice versa. It's true for every substance known to man, except one. Gold is the one thing in the universe that doesn't follow the rule. |
| 1 April 2014 - Gold prices higher in Asia as dollar mixed Posted: 02 Apr 2014 09:36 AM PDT From:http://www.investing.com/news/commodities-news/gold-prices-higher-in-asia-as-dollar-mixed-274927 By Investing.com | Commodities News | Apr 01, 2014 03:31AM GMT Investing.com - Gold prices rose slightly in Asia on Tuesday as the dollar traded mixed following overnight comments from Fed Chairwoamn Janet Yellen. Gold prices higher in Asia as dollar mixedOn the Comex division of the New York Mercantile Exchange, gold for June delivery traded at $1,284.50 a troy ounce, up 0.05%, after hitting an overnigh session high of $1,299.10 and up from a low of $1,283.00 Gold prices fell earlier Monday on talk of waning physical demand in Asia, while dovish policy comments from Yellen failed to boost the precious metal into positive territory. In her first major speech as Fed Chair, Yellen told the National Interagency Community Reinvestment Conference in Chicago, Illinois, that the U.S. economy still needs monetary support to ensure more sustained recovery. "I believe it is appropriate for the Federal Reserve to continue to provide substantial help to the labor market, without adding to the risks of inflation, is because of the evidence I see that there remains considerable slack in the economy and the labor market," Yellen said in prepared remarks of her speech. The Fed is currently purchasing $55 billion in bonds a month to spur recovery, a monetary policy tool known as quantitative easing that suppresses interest rates to prop up the economy, weakening the dollar and bolstering gold as side effects. Yellen's words sent investors reevaluating the pace at which the U.S. central bank will taper its bond-buying program that has boosted gold prices for well over a year. "I think this extraordinary commitment is still needed and will be for some time, and I believe that view is widely shared by my fellow policymakers at the Fed," Yellen said Investors snapped up equities over gold in wake of Yellen's dovish policy comments, as companies will reap the benefits of an improving economy down the road even as interest rates rise, while gold's popularity as a hedge during times of loose monetary policy will wane. Elsewhere, data revealed that manufacturing activity in the Chicago region expanded at a slower rate than forecast in March, as new orders fell. The Chicago purchasing managers' index fell 55.9 from 59.8 in February. Analysts had expected the index to tick down to 59.0. Elsewhere on the Comex, silver for May delivery fell 0.28% and trading $19.697 a troy ounce, while copper for May delivery was down 0.09% and trading at $3.024 a pound. Source:http://www.investing.com/news/commodities-news/gold-prices-higher-in-asia-as-dollar-mixed-274927 |
| 1 April 2014 - 印度财长：政府考虑与央行协商放宽黄金进口管制 Posted: 02 Apr 2014 09:33 AM PDT From:http://gold.hexun.com/2014-04-01/163550037.html 014年04月01日08:25 来源：FX168 因近期印度政府即将放宽黄金进口管制的预期不胫而走，该国国内的黄金溢价已开始有明显的降温。周一印度财政部长P.Chidambaram在新闻发布会上也表示，印度政府将考虑与印度央行(RBI)协商有关放宽黄金进口管制的事宜。 印度曾是全球头号黄金消费国，但由于去年政府将黄金进口税上调至10%的历史高位，打压该国需求大幅降温，最终将该头衔拱手让予去年需求表现强劲的中国。 不过，印度过于严格的黄金进口管制令国内黄金供应商叫苦不迭，还一度导致黄金走私数量猛增，在多方的强烈要求下，印度政府近期已允许国内五家私人银行进口黄金。 另外，印度会在5月31日庆祝Gudi Padwa新年，据印度的黄金交易商称，这一节日中，印度民众会购买黄金饰品以求为全年带来繁荣。目前印度的黄金交易商们已经开始为节日季节的黄金需求做起准备。 去年的Gudi Padwa新年，尽管印度消费品需求大减，但金饰销量却增加了约30%。 此外，下个月还有东部印度庆祝的Bengali新年，同样也是购买黄金的良机，而南部地区下个月庆祝的Vishu节日也同样会推动黄金需求。 |
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