Showing posts with label Gold silver News. Show all posts
Showing posts with label Gold silver News. Show all posts

Wednesday, 22 June 2016

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Wednesday, 25 May 2016

Best Report in GOLD (India's Largest Operator Group)

From Many years i have been telling people not to go for Gold investments at this higher prices better people should wait and buy at lower levels, Recently few our group friends asked who drive Gold prices Globally, for the answer to their question, They must read the following i am posting..
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Does Jewellery or Central Bank Demand Drive the Gold Price?

-- Neither mining production, nor technological demand drives gold prices, since gold – thanks to its uniquely high stock-to-flows – resembles an asset rather than commodity. Before we look at the drivers of gold investment demand, we have to analyse the role of jewellery demand and central bank buying in the gold price formation. These two categories are often considered as important drivers for the gold price, but are they really?
Let’s start with the jewellery demand. There are countless articles in the financial press stating that demand for jewellery, especially from Asians, drives gold prices. Many analysts even suggest that the growing incomes in Asia, particularly in China and India, will spur demand for gold, which will make prices sky-rocket (according to this article, the price of gold should double in the next 15 years thanks to the gold lovers from Asia). Unfortunately, they are all wrong. Why?
The reason is simple. The gold prices are not driven significantly by consumer demand, but by investment demand. Consumers do not drive prices, because when the prices rise, they buy less, and vice versa. Only professional investors can provoke a stable, sustained rise in the gold price as happened during the past bull markets. Indeed, the rising prices of gold in the 1970's and 2000's coincided with declining jewellery demand, while the bear market in 1980's and 1990's was accompanied with a steady rise in demand for jewellery
Jewellery demand was generally falling in 2000s, while the gold price was rising. The high in jewellery demand in 1999-2000 coincided with a 20-year low in the gold prices, while the low in 2009 occurred during the gold bull market. And more recently, gold prices fell by almost 30 percent in 2013, while gold jewellery demand saw the largest volume increase since 1997 (by 17 percent annually).
This is the exact opposite of what we might expect if the jewellery demand would have really driven the gold price. In reality, the gold price affects the jewellery demand significantly, not the other round way. This category of demand has high price elasticity, especially in the Western countries, where gold jewellery is bought almost solely for decorative purposes as a luxury consumption good.
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By the way, the same applies to scrap supplies. Recycling is also very sensitive to changes in the gold price, so when the gold price rises, scrap supplies increase, and vice versa; thus, recycling follows the gold price rather than driving it.
To be sure, jewellery demand, especially in Asia, represents investment demand in disguise rather than simple consumer demand, but it means that jewellery demand can drive gold price only as an investment demand. Contrarily, as a consumption demand it can provide only some upward support and follow gold price rather than setting it.
So, don’t put too much weight on all these bullish analyses focusing on demand from India and China. The GDP per capita and disposable incomes have been rising there for decades, and have also done so during gold bear markets. Asian demand does not drive the gold price, but follows it. For example, in 2013, gold prices fell by almost 30 percent (also against Yuan), and Chinese households became the world’s heaviest buyers of the yellow metal, while Indian and Chinese demand fell in the first quarter of 2014, when gold prices recovered from earlier losses.
The demand from central banks is a bit more complicated, since they buy and sell gold based on political reasons concerning the value and safety of national reserves and their expected need for the metal, rather than to gain a profit. Therefore, their activity does not follow gold prices exactly, as it was demonstrated by the Bank of England, which sold 395 tons of gold between 1999 and 2002 when the market was at its lowest. But does central bank buying drive the gold price? We do not think so.
As you can see, the gold price was rising since 2001, despite the fact that central banks were heavy sellers of gold from 1989 to 2009. Contrarily, the average gold price fell from $1,411 in 2013 to $1,266 in 2014, although central banks increased their net purchases from 409.3 tons to 477.2 tons.
Moreover, central banks possess only around 15-20 percent of total world gold holdings, while their annual purchases equal only the sum traded during a single day at the London market. It seems that central bank demand can put a floor under the price (or strengthen the existing market sentiment) rather than drive it.
The key point is that neither jewellery nor official demand drives the gold prices. Demand for gold jewellery is highly elastic and follows the gold price rather than sets it. Central banks’ purchases are relatively small and conducted mainly due to reserve management policy considerations (e.g., due to diversification), not because of the profit motive. In reality, the factor that really drives the price of gold is investment demand.

Tuesday, 18 February 2014

PRECIOUS-Gold at 3-1/2 month high on weak dollar, U.S. growth concerns

* Spot gold up for 3rd session; futures rise for 9th day

* Silver at highest level since early November

* Dollar index at six-week low (Updates prices)

By Clara Denina

LONDON, Feb 17 (Reuters) - Gold hit a 3-1/2 month high on Monday as fears over U.S. economic growth following a series of disappointing data sent the dollar to a six-week low and lifted demand for the metal.

Spot gold touched its highest since Oct. 31 at $1,329.55 an ounce earlier in the session and was trading up 0.7 percent at $1,327.91 by 1700 GMT. The metal posted its biggest weekly gain since August last week, climbing 4 percent.

U.S. gold futures rose for a ninth session running, up 0.7 percent to $1,328.30 an ounce, and were on track for their longest rising streak since July 2011. Volumes were low as U.S. markets were shut for a holiday on Monday.

Gold has risen 10 percent this year, after a 28 percent drop in 2013 that snapped a 12-year run of gains.

Prices have been boosted by weak U.S. and Chinese economic data, while emerging market jitters hurt some equity markets last month, spurring demand for safe-haven bullion.

But, unusually, global shares have rebounded this month, rising in tandem with gold.

"Unexpectedly, the commodity space has been generally a good place to be so far this year, with gold doing incredibly well but the big question now is how long could this continue," Saxo Bank senior manager Ole Hansen said.

"I would probably be a bit cautious because we have seen swings in the equity markets and the turmoil in emerging markets subside and that's not a strong backdrop for gold going forward."

The dollar hit a six-week low against a basket of currencies after U.S. manufacturing output data on Friday showed an unexpected fall in January.

Speculators raised their bets in gold futures and options to a three-month high, according to data from the Commodity Futures Trading Commission.

Regulatory filings showed hedge fund Paulson & Co maintained its stake in the world's biggest gold-backed exchange-traded fund, SPDR Gold Trust, in the fourth quarter.

But investor confidence is not uniformly positive and holdings of the SPDR fund fell 5.10 tonnes to 801.25 tonnes on Friday - the first drop in three weeks. They have remained relatively stable over the past few weeks, after last year's 500-tonne outflow.

Without any meaningful shift in investor sentiment and given the positive macroeconomic outlook, gold's rally may be temporary, analysts said.

"It could be pushed towards the mid-$1,400s but I have my doubts that we are back in a bull market," said Sean Corrigan, chief investment officer at asset manager Diapason.

Corrigan said Diapason's portfolio had a gold component but there were no plans to increase that.


Gold premiums in India, the world's second-biggest consumer of the metal after China, recovered 21 percent to $75 an ounce on London prices from a four-month low as the federal government kept import duty steady at a record 10 percent.

India's finance minister said on Monday that the government would look into relaxing gold imports curbs, but did not announce any immediate change.

Buying in China rose, with premiums for 99.99 percent purity gold on the Shanghai Gold Exchange up to about $7 from $5.50 on Friday, though volumes were lower.

Silver climbed to its highest since November at $21.96 an ounce, before trading up 1.6 percent at $21.80. The metal has gained 12 percent this year.

Platinum fell 0.2 percent to $1,426.50 an ounce, while palladium gained 0.7 percent to $739.50 an ounce. (Additional reporting by A. Ananthalakshmi in Singapore and Siddesh Mayenkar in Mumbai; Editing by Jason Neely)

Saturday, 15 February 2014

PRECIOUS-Gold rises above $1,300, posts biggest weekly gain in 6 months

* Gold rises with Wall St despite weak US economic data
* Break above 200-day moving average triggers buying
* Gold ETF reports inflow, investment sentiment rises
* Coming up: US New York State manufacturing index Tues
(Adds comment, second byline, dateline, updates market
activities) By Frank Tang and Clara Denina NEW Y Feb 14 (Reuters) - Gold rose to a
ce on Friday, gaining 1 percent and notching its biggest we
three-month high above $1,300 an ou nekly gain in six months, as weak U.S. manufacturing output pressured the dollar and lifted
-day moving average, and signs o
bullion's currency-hedge appeal. A technical break-out above tough resistance at its 20 0f recovering investment demand in gold exchange-traded funds, also triggered gold buying, traders said.
certainties and emerging-market jitters. On Friday
Bullion reversed its recent strong inverse link with equities, which had been pressured by economic u, U.S. equities, measured by the S&P 500 index , rose 0.5 percent as investors were willing to add riskier investments by overlooking some soft economic data
licy threatening slow retre
stemming from bad weather. "Risk-on is typically deemed bad for precious metals prices, but the downdraft for the dollar and the steady-as-she-goes Fed p oat from an ultra-easy stance, is boosting demand for gold," said Andrew Wilkinson, chief market analyst at Interactive Brokers LLC.
0.90. It was up around 4 percent for the week, the larges
Spot gold was up 1.2 percent at $1,317.90 an ounce by 2:06 p.m. EST (1906 GMT), after rising to its highest since Nov. 7 at $1,3 2t such gain since mid-August. U.S. gold futures for April delivery settled up $18.50 at $1,318.60 an ounce, up for an eighth straight session
howed. The technical picture has improved o
in the longest winning streak since July 2011. Trading volume was about 10 percent below its 30-day moving average, preliminary Reuters data sver the past few sessions and a move above its 200-day moving average, last seen in August 2012, analysts said. However, some traders noted that the 14-day relative
nning of the year, after a 28 percent drop in 2013, on doubts ov
strength index (RSI) for spot gold jumped to about 74. A reading above 70 is considered to be in overbought territory. Gold has gained nearly 9 percent since the beg ier the U.S. economic recovery and as emerging-market turmoil weighed on some equity markets. Analysts remain cautious over the medium-term outlook for gold, however. Many expect the U.S. economy to recover and the
cked exchange-traded fund, posting its biggest inflow since l
dollar to rally, making the investment case for gold, usually seen as a safe haven in times of trouble, still unattractive. Investor sentiment seems to have improved, with SPDR Gold Trust, the world's largest gold-b aate December, up 7.5 tonnes to 806.35 tonnes on Thursday. Silver climbed to its highest since November at $21.42 an ounce earlier and posted its second straight weekly gain. It was up 4.3 percent for the day at $21.32. Platinum gained 0.8 percent to $1,423.50 an ounce,
412.10 1431.50 9,842 US Pall MAR 737.60 6.50
while palladium climbed 0.6 percent to $733.25 an ounce. SETTLE CHNG CHNG VOL US Gold APR 1318.60 18.50 1.4 1299.90 1321.50 134,486 US Silver MAR 21.421 1.026 5.0 20.445 21.440 66,629 US Plat APR 1430.10 13.50 1.0 10.9 730.00 740.45 5,375 Gold 1317.90 15.60 1.2 1300.35 1320.90 Silver 21.320 0.870 4.3 20.480 21.420 Platinum 1423.50 11.75 0.8 1415.25 1429.50 Palladium 733.25 4.35 0.6 733.30 739.50
Platinum 10,046 10,646 13,326 17.78 -0.15 US
TOTAL MARKET VOLUME 30-D ATM VOLATILITY CURRENT 30D AVG 250D AVG CURRENT CHG US Gold 141,723 172,213 186,052 18.69 0.23 US Silver 82,528 43,600 56,067 26.53 0.36 U S Palladium 6,973 4,042 5,542 19.08 0.56 (Additional reporting by A. Ananthalakshmi in Singapore; Editing by Nick Zieminski; Editing by David Evans and Dale


Gold, silver prices surge on strong seasonal demand

Gold Silver

Gold prices spurted by Rs 180 to Rs 30,980 per ten grams in the national capital on brisk buying by stockists and retailers for the ongoing marriage season amid a firming global trend.
Silver surged by Rs 800 to Rs 46,000 per kg on increased off take by jewelry fabricators and coin makers.
Traders said sentiments bolstered as stockists and retailers remained net buyers to meet the ongoing marriage season demand amid a firming global trend where gold traded above $1,300.
Gold in Singapore, which normally sets price trend on the domestic front, rose 0.6 per cent to $1,310.70 an ounce, the highest since November 8 and silver by 1.9 per cent to $20.88 an ounce, its highest since November 14.
In Delhi, gold of 99.9 and 99.5 per cent purity surged by Rs 180 each to Rs 30,980 and Rs 30,780 per ten grams, respectively. Sovereign rose by Rs 100 to Rs 25,400 per piece of eight grams.
In a similar fashion, silver ready shot up by Rs 800 to Rs 46,000 per kg and weekly-based delivery by Rs 755 to Rs 45,515 per kg.
Silver coins too spurted by Rs 1,000 to Rs 87,000 for buying and Rs 88,000 for selling of 100 pieces.
In Mumbai, gold of 99.9 and 99.5 per cent purity rebounded by Rs 170 and Rs 190 to Rs 30,650 and Rs 30,520 per ten grams, respectively. Silver jumped by Rs 1,050 to Rs 46,800 per kg.