All Articles Tagged - gold

Commodities – Gold prices edge up ahead of Fed

Posted on December 12, 2012 at 8:52 am GMT

Gold prices edged up on Wednesday as the US dollar remains under pressure on expectations of easing by the Federal Reserve at a policy meeting that concludes later today. The Federal Open Market Committee (FOMC) is expected to announce further stimulus measures on the form of bond purchases in the amount of $45 billion. Such measures tend to have a weakening effect on the US currency and this will support gold as it is seen as a hedge against inflation. [..]

Commodities – Gold rises on expectations of Fed quantitative easing

Posted on December 10, 2012 at 11:08 am GMT

Gold prices climbed higher on Monday to a one-week high on expectations that the US Federal Reserve will be easing further when it holds its policy meeting this week. Despite the higher-than-expected US nonfarm payrolls report on Friday, which led gold to dip briefly, the Fed is still likely to stay accommodative and continue its bond buying program. The Fed is expected to announce fresh bond purchases of $45 billion a month to replace Operation Twist. The latter program which [..]

Commodities – Gold down for second day on stronger dollar

Posted on November 28, 2012 at 12:13 pm GMT

Gold moves lower for a second day on Wednesday due to a firmer dollar. Uncertainties of the US fiscal cliff led to safe haven flows towards the world reserve currency. USD and gold usually have an inverse price relationship. Markets are getting more anxious as focus turns to the fiscal cliff talks where little progress has been made so far to find a resolution to avoid automatic tax increases in January 2013. The so-called fiscal cliff refers to $600 billion [..]

Commodities News – Gold volatile after delay in Greece aid deal

Posted on November 21, 2012 at 4:11 pm GMT

Gold has been flat since late Tuesday trading. The precious metal recovered to prior levels after dipping early on Wednesday due to a firmer dollar after disappointing news from Europe. Greece’s lenders failed to conclude a debt deal at the Eurogroup meeting on Tuesday. Many had been expecting the agreement to release the next aid trance to be struck at the meeting. However, the European finance ministers instead decided to hold another meeting to finalize matters on November 26. Spot [..]

Commodities – Gold trades lower for second day

Posted on November 16, 2012 at 3:27 pm GMT

Gold prices traded lower on Friday, dipping for a second straight day. Spot gold dipped to $1,704.79 on Thursday, after tumbling $20 following a report from the World Gold Council indicating that demand for bullion weakened in the third quarter. On Friday, gold revisited close to those levels, touching a low of $1,705.53. The World Gold Council released a report stating that global gold demand fell 11 percent in the third quarter from a year ago. Pressuring prices was slumping [..]

Commodities – Gold lower today due to stronger USD

Posted on November 13, 2012 at 2:11 pm GMT

Gold prices eased on Tuesday due to a stronger dollar, paring gains after hitting a three-week high on Monday. Prices eased 0.3 percent to around $1,725. Safe haven flows to the greenback led gold prices lower, since the two assets have an inverse price relationship. Dollar has been boosted as investors usually turn to the world’s reserve currency when there is uncertainty in the financial markets. It is considered to be the most liquid currency. The dollar index, which gauges [..]

Commodities – Gold rises for second day

Posted on November 9, 2012 at 2:07 pm GMT

Gold rose for a second day to hit a three-week high as concerns of the U.S. fiscal cliff and more loose monetary policy boosted demand for the precious metal. Immediately after the U.S. elections on Tuesday, market focus switched to the looming $600 billion worth of spending cuts and tax increases which will kick in by January 1 next year if the U.S. government does not find a resolution. Investors have become worried that Washington’s politicians may struggle to find [..]

Commodity News – Gold continues to advance due to weaker dollar

Posted on October 17, 2012 at 8:41 am GMT

Gold prices continued to move higher today, advancing since Monday. The yellow metal had tumbled to a one-month low on Monday to touch $1,728.28 a troy ounce but rose quickly to regain losses after being boosted by improved US data. On Monday, the US retail sales report for September was released, indicating a surprise increase of 1.1 percent, better than the expected 0.7 percent. Also August numbers were revised upwards to 1.2 percent. The data gave a much needed boost [..]

Commodity News – Gold drops to 2-week low

Posted on October 15, 2012 at 8:51 am GMT

Gold prices extended their decline this Monday as the dollar rose. A stronger dollar usually weakens commodities that are priced in USD. Thus, dollar-denominated gold becomes more expensive for holders of other currencies. Dollar strengthened after a report on Friday showed US consumer confidence jumped more than expected in October. Meanwhile some positive news from China over the weekend raised speculation that China may not need additional stimulus. Trade data showed that exports grew more than estimated in September, increasing [..]

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