RSSCategory: Articles: Gold Silver Prices

What To Expect in the Final Week Of February for Gold, Silver, Gold Stocks & Dollar

What To Expect in the Final Week Of February for Gold, Silver, Gold Stocks & Dollar

This morning we are seeing the US Dollar index move higher retesting a short term breakdown resistance level. What this means is that the dollar fell below support and is not slowing drifting back up to test the breakdown level. As we all know once a support level is broken it then becomes resistance. So if that holds true with the current move in the dollar we should see stocks and commodities find a short term bottom and continue higher today or tomorrow from the looks of things. Gold has been pulling back the past couple trading session on light volume which healthy price action. It has done the opposite […]

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Vietnam’s central bank plans new gold regulations

| February 27, 2012 | Articles: Gold Silver Prices

Vietnam’s economy is facing hard times and the communist government is desperately seeking ways to solve the crisis affecting the country. In the past two years the Vietnamese central bank has taken a series of measures aimed at avoiding further capital flight from the country. Measures taken by the government thus far include greater controls on the gold market. According to estimates there are 300 to 500 tonnes of privately held gold in Vietnam. Nguyen van Binh, governor of the Vietnamese central bank, stated in an interview that he wants “to mobilise gold from the public in service of the socio-economic development.” The State Bank of Vietnam is keeping a […]

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Market Taking a Breather from Buying Gold

The Dollar cost of Buying Gold fell to $1764 per ounce Monday morning in London – a 0.5% drop from Friday’s close – while stocks, commodities and the Euro all fell. Germany’s DAX index was down 1.1% by lunchtime, after G20 finance ministers over the weekend said Germany must do more towards solving the Eurozone crisis. Prices for Buying Silver meantime dropped to $35.07 per ounce – a 1.1% fall on last week’s close. “Precious metals are a bit under pressure this morning,” one Hong Kong bullion dealer noted, adding though that “there seems to be some decent size interest in silver”. Prices for Buying Gold “are taking a breather,” agrees […]

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Silver Price Forecast: Silver Market Update of 24 February 2012

Silver Price Forecast: Silver Market Update of 24 February 2012

Silver is currently trading at key resistance levels. See below, a six-year silver chart (all charts generated at fxstreet.com): On the chart, I have drawn a significant upward sloping resistance line (red line). Silver has now reached that line, trying to breach it and stay above it. It has also reached the top resistance line of a big flag pattern. If the silver price gets through these resistance lines, and stays above them, then it is likely to continue its rise, but likely in a more accelerated manner. These resistance areas can be very tricky. Price can often react in a violent manner downwards; however, there are no certainties. What […]

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Strong weekly close in Gold

Strong weekly close in Gold

Gold was able to close the week out on a very strong note, although some traders did decide to cash in some profits ahead of the weekend, after getting a nice run of some $65 off of last week’s close as of Thursday’s peak price. Even in spite of the light round of profit taking, gold still managed to put in a very solid WEEKLY close surrendering only about $15 off its best level of the week and closing within striking range of $1800, the top of the heavy resistance zone noted on the price chart. Take a look at the weekly chart shown below for an intermediate term view […]

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Gold and silver prices benefiting from liquidity flood

| February 26, 2012 | Articles: Gold Silver Prices

For the first time in three years the slowdown in the eurozone is negatively affecting trade with important Asian exporters such as Japan, China, South Korea and Thailand. Owing to last year’s floods, in Q4 Thailand’s economy suffered a 10.7% slowdown in comparison with the previous quarter. Recent factory closures have also caused difficulties for the Thai economy. Meanwhile, Japan’s exports dropped by 9.3% in January – a record monthly fall. Japan’s current account deficit now stands at US$19 billion. In order to boost exports the Bank of Japan recently announced a $130 billion expansion of its bond-purchasing programme. This is designed to weaken the yen. The People’s Bank of China is […]

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Gold & Silver Headed for Weekly Gains

Dollar Gold Bullion prices hovered around $1780 per ounce Friday morning in London, after falling slightly from yesterday’s 3-month high. Silver Bullion meantime hit its highest level since September, rising to $35.74 per ounce just after London opened. “Silver has finally broken out of its sideways range,” says Russell Browne, technical analyst at bullion bank Scotia Mocatta. “We have also cleared the previous resistance at $35.16…and this level should now start to act as support.” Stocks and commodities were relatively flat going into this weekend’s G20 meeting, while government bond prices ticked higher. Heading into the weekend, Gold Bullion at Friday lunchtime looked set for a weekly gain of over 3%, with silver looking at a gain […]

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Why China is buying Gold

Why China is buying Gold

FOR OVER three decades, since the start of the country’s “Reform Era” in 1978, China has been exporting more goods than it has imported, writes Porter Stansberry in the Daily Wealth. That’s allowed the nation to stockpile trillions of Dollars – more money than our entire monetary base totaled before the recent financial crisis. The way it works is simple to understand. When a Chinese business earns Dollars by selling overseas, the law requires the company to hand those Dollars over to the country’s central bank, the People’s Bank of China (PBOC). In return, the business gets Chinese currency (called either the “Yuan” or the “Renminbi”) at a fixed rate. There’s nothing fair […]

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Gold Market Weekly Wrap – 24 Feb 2012 by BullionVault

Gold Price and Silver Bullion Market News and Analysis with Ben Traynor from BullionVault. In this weeks wrap: Gold Price Hits 3-Month High, Silver Price Breaks Out, Euro Oil Price Sets New Record Buying Gold? Make it safer, cheaper and easier with BullionVault.

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Gold and silver prices benefiting from liquidity flood

| February 24, 2012 | Articles: Gold Silver Prices

For the first time in three years the slowdown in the eurozone is negatively affecting trade with important Asian exporters such as Japan, China, South Korea and Thailand. Owing to last year’s floods, …

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Greek Default Risk will keep coming back despite deal

Gold Bullion prices jumped to $1747 per ounce Tuesday lunchtime in London – 1.3% above last week’s close – as US Markets opened for the first time since Friday to the news that European leaders have reached an agreement on Greece. Silver Bullion also spiked, hitting $33.97 per ounce – 1.9% up on the start of the week. European stock markets by contrast drifted lower in Tuesday morning trading, while the Euro gave back most of the gains it made against the Dollar immediately after the Greek deal was announced. Commodities edged higher, while US Treasuries fell. “Market reaction [to the Greek deal] has been remarkably muted so far,” one London Gold Bullion dealer […]

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Greece is Fixed so Let’s Buy Everything

Greece is Fixed so Let’s Buy Everything

Greece managed to secure itself a bailout which takes the problem off the radar screen of hedge fund managers for the time being so it was back to “RISK ON” in a big way in today’s trading session. Between China’s 50 basis point lowering of its Reserve Ratio Requirements for its banks yesterday and today’s money printing to throw at the Greek debt problem, it was “Happy Days are Here Again” as the equity market perma bulls wasted no time in bidding the price of stocks higher while the inflation camp decided to buy nearly anything that moved on the commodity exchanges with the grains being the notable exception to the […]

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Asian Gold Investment Driving Today’s Bull Market

Asian Gold Investment Driving Today’s Bull Market

Western Gold Investment demand remains far below levels seen in gold’s last bull market… Below is a useful chart from investment management firm GMO, showing Gold Bullion demand from Emerging Asia over the past decade, writes Gregor Macdonald. I would comment that here in the West, both Gold Trading and Gold Investment demand remain over-focused on quantitative easing, and track more closely the policy decisions of the Federal Reserve. To this point, it bears mentioning that OECD investment demand for gold still remains far, far below historical highs from 30 years ago. But the broader view suggests, in contrast, that reserve-accumulating economies in Asia are the larger drivers of demand, as they must offset their long exposure to OECD currencies. […]

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Who’s Buying Gold in China?

Gold imports to China in the last 3 months of 2011 totaled 227 tonnes or more. China’s gold mining output added a further 100 tonnes of supply. Yet on the best available data, end-user demand in the Middle Kingdom only reached 191 tonnes. You can see the gap – some 136 tonnes or more. Who’s buying the difference? The Financial Times thinks it knows. “China central bank in gold-buying push,” announced the FT in a headline last week. “It does appear the People’s Bank of China has been a significant buyer,” said a Reuters columnist, repeating what he’d just read in the Pink ‘Un. So fill yer boots, Western investors! Beijing has got $3 trillion […]

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