Speculators boosted bullish gold bets to a three-month high on signs central banks will act to counter low inflation, reviving the allure of bullion as a hedge. The net-long position in New Yorkfutures and options climbed for a third week, the longest expansion since July, government data show. Short holdings fell to a 14-week low. […]
LATEST NEWS:Gold Rises as Rally in Crude Oil Spurs Investor Demand for Metal
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
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
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 Bulls Lured Back for First Time in Two Months: Commodities
Speculators added bullish gold bets for the first time in nine weeks as concern that global economic growth is slowing whipsawed equity markets. The gain in the net-long position in New York gold futures and options snapped the longest run of reductions since 2010. Prices rose for a second week as global equities retreated to […]
LATEST NEWS : Gold Bulls Lured Back for First Time in Two Months: Commodities
Speculators added bullish gold bets for the first time in nine weeks as concern that global economic growth is slowing whipsawed equity markets. The gain in the net-long position in New York gold futures and options snapped the longest run of reductions since 2010. Prices rose for a second week as global equities retreated to […]
LATEST NEWS : Gold Extends Rebound From 2014 Low as China Returns From Break
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 : MegaFon Shifts Cash to Hong Kong Dollars on Sanction Risk
OAO MegaFon (MFON), billionaire Alisher Usmanov’s wireless operator, said it has been shifting cash holdings into Hong Kong dollars, a move people say metals producer OAO GMKNorilsk Nickel (GMKN) is also undertaking, as the U.S. and Europe ratchet up sanctions against Russia. MegaFon decided to keep about 40 percent of its cash in Hong Kong dollars given the global […]
LATEST NEWS : Gold Falls as Portuguese Bank Seeks to Calm Debt Concerns
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’s Flow East Seen for 20 Years as Incomes Increase Demand
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
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