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  1. #1
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    News related to GOLD


    Gold plunged to 2-month lows below the $1,300 key psychological level on US government talks to end the shutdown. With Wall Street printing gains and WTI oil cracking down, derivatives markets took a hit on Tuesday’s session.


    US manufacturing results were better than expected with the ISM manufacturing PMI at 56.2 vs. expected 55.0. In the meantime, democrats express their discomfort with republicans and president Obama does not hesitate to blame the other party implying no negotiations will take place maintaining the shutdown indefinitely.

    Gold is offered at $1,289.40 retracing 2.83% with lows at $1,282.40 and highs at $1,337.80. Silver is also down and prints 2.51% losses to trade at $21.17 printing lows at $20.63 and highs at $21.97. Platinum retraces 1.34% and is offered at $1,389.30 registering lows at $1,375.00 and highs at $1,414.40. Copper is down 1.35% and is offered at $3.2780 printing lows at $3.2490 and highs at $3.3375. Finally, palladium is down 0.95% and is offered at $720.25 printing lows at $714 and highs at $729.05.

  2. #2
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    Has Gold's glitter gone?

    The declining gold prices show the weakness in the metal could extend further. With the rally in equities and Fed indicating cut downs in QE, gold has lost the status as safe haven which has propelled it earlier. News that ECB may cut the interest rate further supports Dollar, and gold being anti dollar will get weak further.

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  4. #3
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    Gold testing new lows

    Gold remains trapped in bearish channel with heavy outflows continuing in Gold backed ETFs specially SPDR Gold and February delivery futures contract is down to $ 1204/Ounce on NYMEX. Gold is set for a steep close this year almost 29% down, the biggest annual drop in almost three decades. Major economic indicators are pointing to 1180 as the possible bottom, which if breached could lead to 1155 and 1044 as the next possible lows. Silver on the other hand is performing more badly than Gold with a 36% drop this year. March delivery futures contract closed 2% down at 19.65 $/Ounce on NYMEX on Monday.

  5. #4
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    Investors keen on GOLD in 2014

    Indian investors are looking positive for prices in 2014 ,
    The price of Gold has drastically falling from its levels last year, as more and more people are abandoning it for other financial instruments, it is reported that investors had pulled altogether around $32 Bn tied in gold.
    In Indian domestic markets the price has fallen from 538.078 high to 406.442 low. Majorly due to increased intervention by government, fall in gold prices in the international markets and a weak rupee.
    Even though it entirely depends on multiple factors such as international macroeconomic scenario, Indian government policies, global consumption demand and rupee dollar exchange rate, and so on.
    The Uncertainty for the rise in price of gold is still there, majorly due to improving current deficit. And also the government may remove the imposed curb and reduce import duty on gold.

    How far will the investors wait till to flock back to Gold in 2014 ?

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  7. #5
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    THE STORY OF GOLD SO FAR

    Today is 31st of December 2013 and it’s the last day for this year, tomorrow will be a new year and a new beginning. But, I am curious to know if the year 2014 will be a new beginning for Gold too. I always like to write something about Gold and I would love to conclude what went wrong with it in 2013. Gold has been a valuable commodity and a precious metal from times immemorial and has been a hedge against inflation and a safe haven in economic crisis traditionally.

    As the global economic crisis unfolded and the recession started in 2008, people started looking at Gold as safe haven and a hedge against inflation as the equity markets were down worldwide, inflation was very high and joblessness increased many folds. American economy has been the biggest contributor to the global economic crisis along with the European Union and Gold being an Anti-Dollar commodity, got strength from the weakness in the US Dollar. The US real estate bubble, major bankruptcies, higher joblessness, liquidity crunch and very bearish stock markets gave Gold the status of safe haven investment. From 2008 till 2012 in general and till 2011 in particular, Gold has been on a bull ride of its lifetime. Gold was on a record breaking spree and touched high after high till it reached its lifetime high of 1913.50 on 23 August 2011. People were fleeing away from equities, real estate and bond markets and were investing heavily in Gold bullion, Gold Jewelry, Gold mine stocks and Gold backed ETFs (Electronic Traded Fund). Their investment appreciated in value continuously from 2008 till 2011 that encouraged further investment.

    However, the scenario slowly changed when the US economy responded to the aggressive monetary policies and global economy showed some signs of recovery. The US economy grew at a pace of 2.2% per annum and it took four years of aggressive monetary policies and austerity measures to achieve that. By the year 2013, hope returned back in the US economy, the houses were selling again, joblessness decreased below 7% for the first time since 2008, inflation targets were within reach, stock markets sky rocketed, bonds performed well again and the dollar strengthened back. All of this spelled trouble for the Gold and it lost its safe haven status. People started investing in more lucrative options, their risk appetite increased and global stocks performed well specially the US stocks performed exceptionally well. The final nail in the coffin was the Fed’s decision to taper off the Quantitative easing (simply called QE) from 80 billion Dollars per month to 70 billion Dollars.
    To sum it up, Gold is down approximately 30% down this year, which is the worst performance of Gold in last three decades. Whereas 2013 was the best year so far for the US Stock markets. Let’s see if this economic reform and recovery continues in the year 2014 and keeps Gold bulls suppressed and tamed.

    You all have a very prosperous 2014. Happy New Year!!
    Syed Murthuza Hussaini
    Executive Dealer,
    PCM-BROKERS DMCC

  8. #6
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    Gold makes a rebound

    Gold rebounds from the lowest yearly close in the last three decades as declining prices are attracting the physical buyers in Asia. Gold jumped from $1205.65 to $1224.09/oz. on 31st December in Singapore. The prices sank to the session low of $1182/oz. one time. However, the low price attracted bargain hunters for taking physical delivery in Asia, especially in China where the premium reached $29.63/oz. for taking immediate delivery. Also, week high volumes of bullion were reported on the Shanghai Exchange. Gold closed the year 28% down, the biggest loss since 1981.

  9. #7
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    Gold extends gains on physical buying

    Gold extended gains on strong physical buying demand. Turkey increased its gold import by 64% in the month of December. Also, premium on taking physical delivery is currently increased to $20 in Shanghai. Extreme demand for physical buying will put positive pressure on the gold prices. Gold prices has been down 28% this year which has increased appetite for physical buying. Although major gold backed ETFs are down, the Mints in US and Australia are reporting increased sales in bullion coins and bars.

  10. #8
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    Gold's bull takes a break after 5 days

    Gold’s continuous uptrend for 5 days was cut short on Tuesday because of the rallying stocks and positive European data. Gold has already lost the safe haven status and it is getting support from the physical purchases from Asia only. With the start of Wednesday, this is the third continuous declining session for Gold. Market is awaiting the Fed's minutes of meeting from Dec 18 meeting.

  11. #9
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    Is gold turning around

    ibri">Gold futures were up 0.3% on Monday, four weeks high, highest since Dec 11 2014. The recent rally in the gold price is due to the bad U.S. employment data released on Friday that showed very disappointing number of jobs were added in the month of Dec. However, experts warn that the rally in gold prices may not last for long. A strong dollar, tapering in quantitative easing and hope of interest rate hike are the biggest hurdles the gold is facing. With the improvement in the U.S. economy, the gold has lost the safe haven status and according to the experts may test new all-time lows. Barclays bank has cut the forecast of gold for 2014 to average of $1,205/ounce and stated that there is possibility of gold testing lows around $1,050/ounce.


  12. #10
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    With major banks cutting the forecast for gold prices in 2014, it stands a very little chance of riding a bull rally. Gold itself is a precious metal, but its value was highly inflated in last decade, especially in 2008-2011 period because of the gloomy outlook of the global economy and achieved the safe haven status. However, things have changed quite a bit and we see the global economy on its road to the recovery and gold losing its shiny armor of safe haven. Gold provided the most needed hedge against inflation and economic meltdown in the recession period, but that era is over, overall global economic outlook is improving. With the rallying equities, the risk appetite for stocks has increased which provide better returns and benefits as an investment. If the Fed hikes the interest rates, expect the gold prices to touch new lows in 2014.

  13. ARIONFORXtarder
 

 
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