Spot Gold | <b>Spot Gold</b> Recovers $1300, London Fix "Seeks External Admin" as <b>...</b> | News2Gold |
- <b>Spot Gold</b> Recovers $1300, London Fix "Seeks External Admin" as <b>...</b>
- Technical Analysis: <b>Spot Gold</b> And Spot Silver | Live Trading News
- <b>Spot gold</b> opens the week at US$1310 an ounce <b>...</b>
- Technical Analysis: <b>Spot Gold</b>, Spot Sliver | Live Trading News
- Technical Analysis: <b>Spot Gold</b> And Spot Silver | Live Trading News
- Dubai's DMCC Considers New Agricultural Contracts, Delays <b>Spot</b> <b>...</b>
<b>Spot Gold</b> Recovers $1300, London Fix "Seeks External Admin" as <b>...</b> Posted: 16 Jul 2014 09:28 AM PDT SPOT GOLD recovered the $1300 per ounce level Wednesday afternoon in London, rallying 0.8% from this week's earlier $50 plunge as world stock markets also rose with the Dollar. Bullion banks leading the world's wholesale market in London meantime invited external proposals for administering the century-old daily Gold Fix. The news follows last week's announcement of a new daily London Silver Price process, set to replace the 117-year old Silver Fix amid regulatory, investor and media scrutiny of the precious metals benchmarks. Spot gold prices "[found] support on approach of the 100-day moving average," says a note from South Africa's Standard Bank, pointing to Tuesday's low of $1292. But "with open interest this high" in Comex gold futures and options contracts, "we expect it more difficult to find the marginal buyer for the metal," they add. Silver prices today failed to track gold higher, stalling below $20.80 per ounce in a tight trading range. "With macro-economic and geopolitical developments offering limited support," agrees London-based consultancy Metals Focus, "a large-scale return of mainstream investors to gold appears unlikely in the near term. "Without a significant 'bid' from institutional players, any upside for prices will be limited." Tuesday saw another jump in the number of Put options on August and Sept. gold futures, according to Thomson Reuters data, which offer the holder a profit if prices fall. "For the time being," say analysts at market-maker Barclays, "we are allowing for further range trading over the coming 3-6 months as gold is caught between the prospect of higher US yields, inflationary expectations, and geopolitical rumbles." Over on the currency markets, the Euro touched a 1-month low near its lowest since February after new data showed US factory-gate inflation beating analyst forecasts in June, with prices up 0.4% from May. The British Pound briefly spiked to new 6-year highs after UK unemployment showed a drop to 6.5% in June. UK wage growth badly lagged consumer-price inflation, however. Spot gold priced in British Pounds recovered to £760 per ounce, some 2.8% below last Friday's 15-week closing high. Barrick Gold – the world's largest single gold miner – meantime said its CEO Jamie Sokalsky will step down in September. Building a gold price "hedge book" equaling well over 600 tonnes of future production by the time spot gold bottomed in 2001, Barrick (NYSE:ABX) then quit those hedges early as prices rose, buying back the last 90 tonnes at what were then record-high prices in 2009. Barrick chairman John Thornton – who does not plan to replace Sokalsky near-term – said on taking the role last year that he "always thought it made great sense to hedge." "The pendulum has swung and the view is evenly split," says a survey of investor attitudes to gold miner hedging released today by US bank and London bullion market-maker J.P.Morgan. Having found 70% of clients against gold miner hedging in 2011, J.P.Morgan says the split is now "50% for and 50% against." Barrick's shares rose 2.4% in New York on Wednesday, trading almost 50% below the level of late 2009 when it closed its hedge book. |
Technical Analysis: <b>Spot Gold</b> And Spot Silver | Live Trading News Posted: 24 Jul 2014 12:21 AM PDT Technical Analysis: Spot Gold And Spot Silver Spot Gold Spot Gold closed lower Wednesday. The low range close sets the stage for a steady to lower opening when Thursday's in the US. Stochastics and the RSI are turning Neutral signalling that sideways to lower prices are possible near term. If Spot Gold resumes the fall off July's high, the reaction low crossing is the next Southside target. Multiple closes above the 20-Day MA crossing are needed to confirm that a short term low is in. Support: 1305.00, 1300.00, 1296.60, 1292.60, 1285.15 Resistance: 1309.35, 1314.00, 1318.10, 1324.35, 1331.50 Recommendation; sell Spot Gold below 1314.00, risk-limit above 1324.35 Spot silver Spot Silver closed lower Wednesday. The low range close set the stage for a steady to lower opening when Thursday's when the US session opens. Stochastics and the RSI are turning Neutral to Bullish signalling that sideways to higher prices are possible near term. Multiple closes above last Friday's high crossing are needed to confirm that a low is in. If Spot silver renews the decline off July's high, the reaction low crossing is the next Southside target. Support: 20.70, 20.64, 20.60, 20.55, 20.38 Resistance: 21.00, 21.08, 21.39, 21.50, 21.75 Recommendation: Sell Spot Silver below 21.08, risk-limit above 21.39 Stay tuned… HeffX-LTN Paul Ebeling The following two tabs change content below. Paul Ebeling is best known for his work as writer and publisher of "The Red Roadmaster's Technical Report" on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984. |
<b>Spot gold</b> opens the week at US$1310 an ounce <b>...</b> Posted: 20 Jul 2014 03:30 PM PDT Proactive Investors Commodity Watch www.proactiveinvestors.com.au/ Proactive Investors Australia delivers insights on global commodity markets, along with the impact on market sectors. Spot gold opens the week at US$1310 an ounceMonday, July 21, 2014 by Proactive InvestorsAugust gold dropped 0.6% for the session to settle at US$1,309.40 an ounce on the Comex. The spot gold markets have opened the week starting Monday 21st July slightly weaker, with the yellow metal easing 0.1% to US$1310 an ounce. On Friday futures eased Friday as investors focused more on the possibility of a U.S. interest rate hike than geopolitical tensions in Ukraine and the Gaza strip. August gold dropped 0.6% for the session to settle at US$1,309.40 an ounce on the Comex division of the New York Mercantile Exchange. The precious metal fell 2% for the week. The Fed may have to raise its benchmark rate more quickly than planned as unemployment drops and inflation accelerates, James Bullard, president of the St. Louis Fed, said yesterday. In other metals, September silver fell 1.2% to US$20.89 an ounce. October platinum fell 0.9% to US$1,489.90 an ounce. September palladium declined 0.4% to US$881.50 an ounce. High-grade copper for September delivery dropped 4 cents to US$3.18 a pound. Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China. Andrew McCrea's Research Reports Sign up to Andrew McCrea's Research Reports and Receive Latest Research & Flash Trades Receive Proactive Investors Newsletter, Investor Forum Invites Receive Proactive Investors Newsletter, Event Invites, Special Stock Notifications |
Technical Analysis: <b>Spot Gold</b>, Spot Sliver | Live Trading News Posted: 22 Jul 2014 01:05 AM PDT Technical Analysis: Spot Gold, Spot Sliver Spot Gold Spot Gold closed higher Monday. The mid-range close sets the stage for a steady opening when Tuesday's US session opens. Stochastics and the RSI are Neutral to Bullish signalling that sideways to higher prices are possible near term. Multiple closes above the 20-Day MA crossing are needed to confirm that a short term low is in. If Spot Gold resumes the decline off July's high, the reaction low crossing is the next Southside target. Support: 1305.00, 1300.00, 1296.60, 1293.00, 1285.15 Resistance: 1309.35, 1314.00, 1318.00, 1324.35, 1331.50 Recommendation: Sell Spot Gold below 1314.00, risk-limit above 1324.35 Spot Silver Spot Sliver closed higher Monday. The mid-range close set the stage for a steady opening when Tuesday's US session opens. Stochastics and the RSI are turning Neutral to Bullish signalling that sideways to higher prices are possible near term. Multiple closes above last Friday's high crossing are needed to confirm that a low is in. If Spot Silver renews the decline off July's high, the reaction low crossing is the next Southside target. Support: 20.70, 20.64, 20.60, 20.55, 20.38 Resistance: 20.90, 21.00, 21.08, 21.20, 21.39 Recommendation: Sell Spot Silver 21.08, risk-limit above 21.39. Stay tuned… HeffX-LTN Paul Ebeling The following two tabs change content below. Paul Ebeling is best known for his work as writer and publisher of "The Red Roadmaster's Technical Report" on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984. |
Technical Analysis: <b>Spot Gold</b> And Spot Silver | Live Trading News Posted: 21 Jul 2014 03:07 AM PDT Technical Analysis: Spot Gold And Spot Silver Spot Gold Spot Gold closed higher Friday as it extends some of Thursday's rally. The low range close sets the stage for a steady to lower opening when Monday's US session opens. Stochastics and the RSI are Neutral to Bullish signalling that sideways to higher prices are possible near term. Multiple closes above the 20-Day MA crossing are needed to confirm that a short term low is in. If Spot Gold resumes the decline off July's high, the reaction low crossing is the next Southside target. Support: 1309.35, 1305.00, 1300.00, 1296.60, 1293.00 Resistance: 1314.00, 1324.35, 1331.50, 1338.00, 1348.40 Recommendation: Sell below 1331.45, stop-loss at 1338.00 Spot Silver Spot Silver closed lower Friday as it consolidates some of Thursday's rally. The lowrange close set the stage for a steady to lower opening when Monday's US session opens. Stochastics and the RSI are turning Neutral to Bullish signalling that sideways to higher prices are possible near term. Multiple closes above Monday's high crossing are needed to confirm that a low is not. If Spot Silver renews the decline off July's high, the reaction low crossing is the next Southside target. Support: 20.90, 20.70, 20.55, 20.38, 20.24 Resistance: 21.08, 21.39, 21.50, 21.75, 22.16 Recommendation: Buy above 21.38 and sell below 20.55, risk-limit below 21.08, or stand asside for direction confirm. Stay tuned… HeffX-LTN Paul Ebeling The following two tabs change content below. Paul Ebeling is best known for his work as writer and publisher of "The Red Roadmaster's Technical Report" on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984. |
Dubai's DMCC Considers New Agricultural Contracts, Delays <b>Spot</b> <b>...</b> Posted: 07 Jul 2014 04:56 AM PDT The delay in launching the spot contract was due to not being able to link all the participants, DMCC chief said.The Dubai Multi Commodities Centre (DMCC) said it would delay launch of a spot gold contract to the third quarter to ensure that the technical aspects run smoothly and was studying possible contracts for several agricultural commodities. The Dubai Gold and Commodities Exchange (DGCX), which already trades gold futures, said in April it would launch the spot contract in June, but the chief executive of DMCC, which hosts the exchange, said on Monday a decision was taken to delay the launch. "There's been some delay in the technology in terms of getting all the participants linked," Gautam Sashittal told Reuters. "We don't want to launch a great contract that technology can't handle and participants can't actively participate in, so we took a conscious decision to delay the launch," he added. The contract will cover 1 kg (32 troy ounces) of 0.995 purity gold. "It's important because most of the gold that passes through Dubai is for physical trade. It will end up going to India to be manufactured into jewellery, so it's important to have a spot contract," Sashittal said. About 40 per cent of physical gold traded in 2013, worth about $75 billion, passed through Dubai, up from $70 billion in 2012. Sashittal also said Dubai was looking into the possible launch of contracts in several agricultural commodities in the near future, including the possibility of one for black pepper. "It is something we are researching, but it could take time as we need to know the scope and the size of the market," he said. The DMCC has met with traders in various commodities including sugar and pulses in an effort to determine where value can be added. Sashittal ruled out rice as one of the options, saying that it was already a well established re-export business in Dubai, while the DMCC was looking to create opportunities in agricultural commodities that are not as firmly established, such as it did in 2005 with the launch of its tea centre. "What we don't do is we don't compete with the trade, so we talk to the traders, and if they say we need common storage facilities or milling facilities, then we look at feasibility and create infrastructure. But if the traders are already well serviced for that particular commodity, then we don't duplicate that," he said. The DMCC's Tea Centre, which started trading activities in 2005, tripled trade volumes to 20 million kg of tea in the first half of 2014 from 7.5 million kg in the first half of 2013. Dubai now imports tea from around 13 different origins, and around 60 per cent of the world's tea re-exports go through the emirate. The facilities provided by DMCC, which include warehousing and blending, give traders the flexibility to blend various origins together and create new labels for export, Sashittal said. |
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