Author Archive: BullionVault

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Gold Bullion seeing better sentiment

Gold Bullion seeing better sentiment

Dollar Gold Bullion prices climbed to $1625 per ounce during Monday morning’s London session, towards the higher end of gold’s trading over the last three months, while stock markets were broadly flat following news that Japan’s economic growth slowed sharply in the second quarter. Silver Bullion rallied to $28.18 an ounce – in line with last week’s close, after briefly dipping below $28. The cost of an ounce of Gold Bullion minus that of an ounce of platinum meantime breached $230 an ounce Monday, a new record high for the gold-platinum premium. “Sentiment [towards gold] has gotten better in the past few days with investors focusing on central banks,” says Dominic Schnider at UBS Wealth Management […]

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Gold Prices marking time until Fed Conference

Gold Prices marking time until Fed Conference

Gold Prices eased lower in Friday morning’s London trading, hovering around $1610 per ounce for most of the session, as stock markets also edged lower and US Treasuries gained, after trade data from China provided further signs of economic slowdown. China’s trade surplus fell by 20% month-on-month in July, with both import and export growth slowing, according to official data published Friday. “Monetary policy easing has to be more aggressive in the remainder of the year…[to avoid a] hard landing,” reckons Liu Li-Gang, Hong Kong-based head of Greater China economics at ANZ Bank. “Gold is trading broadly in line with other asset classes this morning as you see disappointment in […]

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Gold has foothold above $1600, China stimulus would be positive for Gold

Gold has foothold above $1600, China stimulus would be positive for Gold

Spot market prices to Buy Gold traded in a tight range around $1615 per ounce for much of Thursday morning in London – marginally above where they started the week – before dipping slightly around lunchtime, while stock markets also edged lower following gains earlier in the week. “Gold seems to have gotten a foothold above the $1600 level and seems to be relatively stable,” says Robin Bhar at Societe Generale “It’s still showing this correlation to riskier assets. We’ve seen a bit of a rally in the oil market and equities, and gold has kept a par with those moves.” Prices to Buy Silver also ticked lower towards the end of Thursday morning, […]

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Gold Buying Enjoying Popularity Again Despite Indian Monsoon Worries

Gold Buying Enjoying Popularity Again Despite Indian Monsoon Worries

Wholesale market prices for Buying Gold rose to $1616 per ounce Tuesday morning in London, their highest level so far this week, as commodity prices and stocks markets also edged higher, with the exception of the FTSE which was hit by allegations that one London-listed bank has hidden “secret transactions” from US regulators. “Gold appears to be enjoying increasing popularity again,” says Commerzbank’sCommodities Daily note. “There would appear to be brisk buying interest on the market below [$1600]…which should provide the price with a safety net.” The US Dollar Gold Price has remained within 3% of $1600 for virtually all of the last two months. “The market as a whole lacks conviction,” says Marc Ground, […]

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Still Room for Fed Easing – CFTC Set to Drop Silver Price Manipulation Probe

Still Room for Fed Easing – CFTC Set to Drop Silver Price Manipulation Probe

Both the gold and Silver Price posted gains Monday morning in London, with theGold Price hitting $1610 per ounce– a few Dollars up on where it ended last week – as stocks and the Euro also rallied, with analysts speculating on whether central banks will conduct further stimulus measures. “There is still room for [Federal Reserve] easing if it is required,” says David Jollie, analyst at Mitsui Precious Metals in London “There is still a perception that it may be required…the question of when that is, with the US elections approaching, makes it difficult to be super bullish on gold.” “We think the likelihood of further central bank moves remains high, particularly in […]

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Gold Bullion Shrugs Off Nonfarms, But Still Records Weekly Loss

Gold Bullion Shrugs Off Nonfarms, But Still Records Weekly Loss

Gold Bullion prices climbed to $1596 per ounce during Friday morning’s London trading, recovering some ground following three days of losses, as stock markets also rebounded ahead of the release of US nonfarm payrolls data later today. Silver Bullion climbed back above $27.30 per ounce, in line with where it closed two weeks ago, while other industrial commodities also edged higher. Heading into the weekend, Gold Bullion looked set for a 1.7% weekly loss by Friday lunchtime in London. Gold Prices fell sharply on Wednesday following a better-than-expected ADP Employment report, a privately-produced precursor to today’s official nonfarms figure. Gold then fell again Thursday along with the Euro, after the […]

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Expectations of Central-Bank Action Driving Gold Investment

Expectations of Central-Bank Action Driving Gold Investment

Wholesale prices for Gold Investment bars struggled just above $1600 per ounce in London on Thursday, after dipping below that level for the first time in a week as the US Federal Reserve left monetary policy unchanged yesterday. “You can say that immediate QE is off the table,” reckons Frank McGhee, head of precious metals trading at Integrated Brokerage Services in Chicago. “I will probably not be surprised to see them not do anything in September either,” he adds. The Bank of England followed the US Fed in leaving UK policy unchanged in its midday announcement today. The European Central Bank was also expected to make no change to its record-low rates […]

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Gold Prices could be under pressure from Central Bank Meetings

Gold Prices could be under pressure from Central Bank Meetings

Gold Prices held steady above $1620 per ounce during Tuesday morning’s London trading, while stocks and commodities were also broadly flat and major government bond prices ticked higher with markets looking ahead to key central bank policy decisions later in the week. Silver Prices meantime hit a four-week high at $28.47 per ounce. “With wider markets setting the flow direction for [gold] bullion, underlying demand for the metal remains soft and has barely provided any significant direction,” says a note from Swiss precious metals refiner MKS. “Gold may come under some pressure in the run-up to this week’s central bank meetings,” adds a note from Australian and New Zealand bank ANZ, referring […]

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Gold Bullion Investors Playing Waiting Game Ahead of ECB and Fed Meetings

Gold Bullion Investors Playing Waiting Game Ahead of ECB and Fed Meetings

Gold Bullion prices dipped below $1620 per ounce during Monday morning’s London session – slightly below where they ended on Friday – while stocks gained and US Treasuries fell, with markets focused on key monetary policy decisions due later in the week. Silver Bullion hovered around $27.70 an ounce – in line with last week’s close – while other commodities were also broadly flat. German 2-Year government bond yields hit a new record low this morning, falling further below zero to -0.096% ahead of an auction of Italian 10-Year debt. German bund yields then climbed higher, although remained in negative territory, after Italy successfully sold just under €5.5 billion of […]

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Gold Price hits 3-week high as ECB’s Draghi vows to do whatever it takes to preserve the Euro

| July 27, 2012 | Articles: General
Gold Price hits 3-week high as ECB’s Draghi vows to do whatever it takes to preserve the Euro

The wholesale Gold Price leapt more than 1% inside an hour Thursday morning in London, hitting 3-week highs above $1620 per ounce, after European Central Bank chief Mario Draghi said “The ECB is ready to do whatever it takes to preserve” the single Euro currency. “And believe me, it will be enough.” Speaking in London one day after the Gold Price jumped following fresh rumors of more quantitative easing by the US Federal Reserve, Draghi didn’t specify plans, but pointed to the high bond yields now being paid by Eurozone members such as Italy and Spain. “To the extent that the size of these sovereign premia hamper the functioning of the monetary policy transmission channel, […]

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Gold Prices and Euro Edge Higher, Fed Moving Closer to more QE

Gold Prices and Euro Edge Higher, Fed Moving Closer to more QE

Gold Prices rallied above $1590 per ounce Wednesday morning in London – moving within 2% of July’s high – as European stock markets edged upwards despite Spanish government borrowing costs hitting new record highs. Silver Prices rallied to $27.20 per ounce – though unlike gold, silver remains down on the week so far. The Euro rallied against the Dollar in early European trading, following a press report that suggested the Federal Reserve could be moving closer to more monetary stimulus. On the commodities markets prices were broadly flat this morning. Platinum continued to trade below $1400 an ounce, with the gap between platinum and Gold Prices bigger than at any time since January. The […]

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Euro Gold Prices Making Gains on Dollar Strength

Euro Gold Prices Making Gains on Dollar Strength

Gold Prices drifted down to $1573 per ounce Tuesday morning in London – a few Dollars above last week’s low – as stocks and commodities also ticked lower, while US Treasuries were flat and German bunds fell after Germany’s credit rating was placed on negative outlook. Silver Prices briefly dipped below $27 per ounce – 1.2% below where they began the week. On the currency markets, the Euro briefly dropped below $1.21 for the second day in a row, while Euro Gold Prices hovered around €1300 per ounce – 3.2% off its six-month high. The Gold Price in Euros has gained 8% since the middle of May. “Thanks to the Euro’s depreciation vis-a-vis the US Dollar, […]

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Stronger Dollar the Great Danger to Gold Bullion Prices

Stronger Dollar the Great Danger to Gold Bullion Prices

Gold Bullion prices quoted on the wholesale market fell to $1569 per ounce Monday morning in London – 0.9% off where they closed last week – as stocks, commodities and the Euro also traded lower and US Treasuries gained, following news that two Spanish regions plan to ask for bailouts. Silver Bullion fell to $26.88 an ounce – a 1.9% drop on where it ended Friday. Volumes of Gold Bullion held by exchange traded funds (ETFs) saw net losses last week, while on the currency markets this morning the Euro hit a new two-year low against the Dollar Monday, dropping below $1.21. As a result, the US Dollar Index, which measures the Dollar’s strength […]

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Gold Price Range Flat and Contracting

Gold Price Range Flat and Contracting

The Gold Price traded in a narrow range above $1580 per ounce Friday morning – in line with where it has spent the last two weeks – while stocks and commodities ticked lower and US Treasuries gained, as market attention returned to the European debt crisis, currently focused on Spain. The Silver Price dipped to $27.07 per ounce, though it too remained firmly within its range for the last fortnight. Based on Friday afternoon London Fix prices, the Gold Price has alternated between up and down weeks since the week ended 11 May. A Gold Fix below $1595.50 per ounce this afternoon would see this pattern extended for a tenth […]

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