As a rout in energy prices spreads to global equities, investors are returning to gold to take cover. Assets in the SPDR Gold Trust, the world’s largest exchange-traded product backed by the metal, rose yesterday at the fastest pace since July. The holdings are up almost 1 percent in December, snapping four straight months of […]
LATEST NEWS:Gold Rises as Rally in Crude Oil Spurs Investor Demand for Metal
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Gold climbed as higher energy prices damped concern that inflation will remain low and revived demand for the precious metal as a store of value. Crude futures in New York advanced for the second time in three days. The correlation between gold and oil rose close to 0.4 today, the strongest link since July 2013. […]
LATEST NEWS: Gold Trades Little Changed as Dollar Falls From Five-Year High
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Gold traded steady as the dollar fell from a five-year high, boosting demand for the metal as an alternative investment. The dollar lost as much as 0.2 against a basket of 10 currencies after touching the highest since March 2009. Bullion slid earlier after a government report showed the U.S. economy expanded more than expected, […]
LATEST NEWS : Gold Wagers Gain as China Rate Reduction Stems Rout
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Hedge funds added bullish gold wagers at the fastest pace since June as central bank action from China to Japan and Europehelped stem the rout in prices. The net-long position in New York futures and options expanded 56 percent, U.S. government data show. Short holdings fell to a two-month low and long wagers climbed for […]
LATEST NEWS : Gold Extends Rebound From 2014 Low as China Returns From Break
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Gold rose as the drop to this year’s low lured Chinese buyers returning from a weeklong break, while investors awaited minutes of the Federal Reserve’s last meeting. Platinum extended a rally from a five-year low. continue reading at bloomberg.com
LATEST NEWS : Gold Falls as Portuguese Bank Seeks to Calm Debt Concerns
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Gold declined for the first time in three days as concerns eased that banking woes in Portugal will spur a wider debt crisis in Europe, crimping demand for the precious metal as an alternative investment. continue reading at bloomberg.com
LATEST NEWS : Gold Shines Again as Hedge Funds Boost Wagers on Advance
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Gold is precious again. After investors sent bullion tumbling in 2013 by the most in three decades and kept dumping the metal earlier this year, demand is now up and prices are defying bearish forecasts. Money managers increased net-long positions for a fourth straight week through July 1 and holdings in exchange-traded products are climbing […]
LATEST NEWS : China Finds $15 Billion of Loans Backed by Fake Gold Trades
China’s chief auditor discovered 94.4 billion yuan ($15.2 billion) of loans backed by falsified gold transactions, adding to signs of possible fraud in commodities financing deals. continue reading at bloomberg.com
LATEST NEWS : Gold’s Flow East Seen for 20 Years as Incomes Increase Demand
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The global flow of gold from west to east that helped to make China the world’s largest user will probably last for up to two decades as rising incomes spur demand, according to the China Gold Association. continue reading at bloomberg.com
LATEST NEWS : Gold Set for Weekly Gain on Haven Demand Amid Iraq Tumult
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Gold futures capped a second straight weekly gain as escalating violence in Iraq boosted demand for the precious metal as a haven. Silver posted the longest rally in almost four months. Crude oil jumped to the highest in more than eight months on concern that a civil war looms in Iraq, OPEC’s second-biggest producer. Gold gained 6 […]
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