4 August 2014 - Gold Up on Safe-Haven Buying, Slumping Greenback

4 August 2014 - Gold Up on Safe-Haven Buying, Slumping Greenback
4 August 2014 - Gold Jewellery Imports Increase by 10% in Q1
4 August 2014 - India Snatching Up Swiss Gold, Silver
4 August 2014 - 彭博调查：黄金交易员对本周金价走势恢复看涨

Posted: 04 Aug 2014 03:17 AM PDT

From:http://www.forbes.com/sites/kitconews/2014/04/08/gold-up-on-safe-haven-buying-slumping-greenback/

INVESTING | 4/08/2014

(Kitco News) - Gold ended the U.S. day session moderately higher, closed back above the key $1,300.00 level and hit a two-week high Tuesday. The yellow metal was boosted on some safe-haven buying interest and by solid losses in the U.S. dollar index. June gold was last up $10.60 at $1,308.90 an ounce. Spot gold was last quoted up $12.00 at $1,309.50. May Comex silver last traded up $0.128 at $20.035 an ounce.

The Russia-Ukraine matter is back on the front burner of the market place. Pro-Russian demonstrators in Ukraine are becoming more active this week. This situation could flare up quickly and once again become a geopolitical flash point. Gold saw a bit of fresh safe-haven demand Tuesday due to the increase in Russia-Ukraine tensions. It's not likely this matter will fade away and it's more likely that it will escalate in the coming weeks. Such would be more bullish for the gold market.

The U.S. dollar index is under strong selling pressure early this week as the greenback bulls are fading again. If the dollar index continues to sink it would remain a bullish underlying factor for the precious metals markets.

Traders and investors are looking ahead to Wednesday afternoon's release of the minutes of the latest meeting of the Federal Reserve's Open Market Committee (FOMC). Data from the Fed have become key inflection points for the market place the past several months. Other than the monthly employment report from the Labor Department, it seems other U.S. economic data has become diminished in importance during the past several months.

U.S. economic data released Tuesday included the IMF world economic outlook forecasts, NFIB small business index, and the weekly Goldman Sachs and Johnson Redbook retail sales reports. None of this data had a significant impact on the market place. Federal Reserve officials were again on tap to speak Tuesday, which will garner the attention of the market place.

Technically, June gold futures prices closed nearer the session high Tuesday. The bears still have the overall near-term technical advantage. However, there are now early clues this market has put in a near-term bottom. The gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,320.00. Bears' next near-term downside breakout price objective is closing prices below solid technical support at last week's low of $1,277.40. First resistance is seen at Tuesday's high of $1,314.70 and then at $1,320.00. First support is seen at $1,300.00 and then at this week's low of $1,295.80. Wyckoff's Market Rating: 4.0

May silver futures prices closed near mid-range Tuesday on short covering in a bear market. Prices are still in a six-week-old downtrend on the daily bar chart. The bears have the overall near-term technical advantage. Silver bulls' next upside price breakout objective is closing prices above solid technical resistance at $20.63 an ounce. The next downside price breakout objective for the bears is closing prices below solid technical support at $19.00. First resistance is seen at last week's high of $20.23 and then at $20.50. Next support is seen at this week's low of $19.775 and then at the March low of $19.575. Wyckoff's Market Rating: 3.0.

May N.Y. copper closed up 145 points at 305.40 cents Tuesday. Prices closed nearer the session high today and closed at a fresh four-week high close. More short covering was featured. Bears still have the overall near-term technical advantage. Copper bulls' next upside breakout objective is pushing and closing prices above solid technical resistance at 310.00 cents. The next downside price breakout objective for the bears is closing prices below solid technical support at the March low of 287.70 cents. First resistance is seen at last week's high of 307.40 cents and then at 310.00 cents. First support is seen at Tuesday's low of 302.65 cents and then at 300.00 cents. Wyckoff's Market Rating: 3.5.

Source:http://www.forbes.com/sites/kitconews/2014/04/08/gold-up-on-safe-haven-buying-slumping-greenback/

4 August 2014 - Gold Jewellery Imports Increase by 10% in Q1

Posted: 04 Aug 2014 03:15 AM PDT

From:http://www.newindianexpress.com/business/news/Gold-Jewellery-Imports-Increase-by-10-in-Q1/2014/08/04/article2363000.ece

By ENS Economic Bureau Published: 04th August 2014 06:00 AM

HYDERABAD: Imports of gold jewellery surged 10 per cent to `696.44 crore in the first quarter of the current fiscal as high premium on the yellow metal forced traders to get finished jewellery from abroad, said trade body GJEPC.

However, import of gold bars declined marginally by 3.32 per cent to `8,261.88 crore in the April-June period of 2014-15, GJEPC said.

Import of gold bars fell by 3.32 per cent to `8,261.88 crore in Q1 of the fiscal compared to `8,545.73 crore a year ago.

GJEPC said gold bar imports fell as the 20:80 rule on gold imports was effective this year. Under this rule, it was mandatory to re-export 20 per cent of all bullion imports.

But with the easing of gold import norms, gold bar shipments are expected to rise.

Import volumes declined in June compared to the previous months and shipments are expected to further drop as premium on gold in the domestic market has come down after the RBI relaxed import norms in May-end.

Currently, the premium on gold has come down to `1 per gram of gold from `200 per gram in April.

It may be recalled that in May, the RBI had relaxed gold import norms by allowing select trading houses, in addition to already permitted banks, to procure the precious metal to boost exports.

Source:http://www.newindianexpress.com/business/news/Gold-Jewellery-Imports-Increase-by-10-in-Q1/2014/08/04/article2363000.ece

4 August 2014 - India Snatching Up Swiss Gold, Silver

Posted: 04 Aug 2014 03:13 AM PDT

From:http://www.forbes.com/sites/kenrapoza/2014/08/03/india-snatching-up-swiss-gold-silver/

Kenneth Rapoza, Contributor

Gold loving India is hoarding Swiss gold, and recently accounted for 42% of total gold and silver leaving Switzerland.

According to the Swiss government, its total value of exported gold, silver and coins in the month of June stood at 3.9 billion Swiss franc ($4.3 billion), of which India accounted for 1.63 billion francs ($1.8 billion).

Indian demand for gold has taken overall Swiss exports this year to to 32.1 billion francs. And out of that total, gold exports alone to India hit 7.3 billion francs, or roughly 23% of the market.

Gold is used primarily to make jewelry in India, which is considered a store of value and used as part of many rituals, including weddings.

In the last decade, 75% of gold demand in India has taken the form of jewelry, according to the World Gold Council. More than two-thirds of that demand comes from the country's rural population, where practical considerations of the portability and security of jewelry as an investment keep demand high even among the low income Indians.

India's appetite for gold defies market conditions.

Despite a 400% rise in the rupee gold price over the last decade, gold demand from Indian consumers remains strong.

Over the next decade, there are likely to be 15 million weddings per year in India that will surely help drive up the national appetite for gold jewelry.

India's young demographics are a key indicator of future demand. Urban Indian women, many of them low income, have been adopting contemporary designs for everyday use. Affluent Indian women buy gold jewelry that reflect their heritage, status and culture, and all are willing to dish out higher prices for it.

Moreover, in a country strongly influenced by gold-laden Bollywood actresses, Indians seek to emulate the fashion sense of their favorite celebrities. Draping themselves in gold bangles and necklaces is one of the more expensive ways to do it. For Indian consumers, gold is more important than diamonds and other precious gems.

Despite the importance gold plays in everyday life, India demand was surpassed by the Chinese last year.

According to the World Gold Council, Chinese demand for gold is set to increase 20% from the current level of 1,132 tons per year to at least 1,350 tons by 2017.

Source:http://www.forbes.com/sites/kenrapoza/2014/08/03/india-snatching-up-swiss-gold-silver/

4 August 2014 - 彭博调查：黄金交易员对本周金价走势恢复看涨

Posted: 04 Aug 2014 03:11 AM PDT

From:http://gold.hexun.com/2014-08-04/167233948.html

2014-08-04 07:44:57 来源：FX168

据彭博社周五(8月1日)公布的最新调查显示，多数黄金交易员及分析师对下周金价走势持看涨观点，因近期中东及乌克兰紧张局势持续升温将为金价带来避险支撑。不过，也有超过三分之一的人看跌。

在接受调查的25位黄金交易商及分析师中，12人看涨(48%)，9人看跌(36%)，4人看平(16%)。

国际现货黄金8月1日当周累计下跌15.49美元，跌幅1.18%，收报1293.41美元/盎司，最高上探1312.10美元/盎司，最低下探1280.30美元/盎司。今年至今累计上涨6.9%,7月累计下跌3.4%。

美国劳工部(DOL)周五(8月1日)公布的数据显示，美国7月非农就业人数增加20.9万人，预期增加23.3万人，前值为增加28.8万人；美国7月份失业率录得6.2%，预期为6.1%，前值为6.1%。美国劳工部还将6月非农就业人数上修至增加29.8万人。

美国商务部周三(7月30日)公布的数据显示，美国第二季度实际GDP终值年化季率增长4.0%，预期增长3.0%。同时，美国第一季度实际GDP终值年化季率上修为萎缩2.1%。

欧盟周四(7月31日)公布了一项法令，限制向俄罗斯出售军火并切断对五家俄罗斯大银行的融资。这些制裁举措旨在阻止俄罗斯的银行在西方资本市场融资，并限制对俄军用品出售以及石油行业高科技设备的出口。

以色列与巴勒斯坦伊斯兰抵抗运动（哈马斯）周四(7月31日)曾同意一项为期72小时的停火协议，双方代表随后将在埃及首都开罗展开进一步磋商。但以色列和巴勒斯坦各派别在周五(8月1日)停火仅两个小时后，加沙地带南部的拉法遭以方猛烈炮击。巴勒斯坦一家医院工作人员称，以军坦克开进拉法，约40名巴勒斯坦人死于以方炮火。

brokerage GoldCore Ltd主管Mark O'Byrne表示，"尽管金价近期表现不佳，但地缘政治风险最终将对金价起到积极影响。中东方面，以色列和哈马斯正剑拔弩张，而欧美近日加强对俄罗斯的制裁也令乌克兰局势变得更加不确定。"

Source:http://gold.hexun.com/2014-08-04/167233948.html