LATEST NEWS: Unusual gold moves in Asian hours puzzle jittery traders

Some of the biggest price moves in gold since late October have, unusually, occurred in Asian hours and traders more accustomed to following the lead of their Western counterparts suspect a big increase in algorithmic trading may be to blame. continue reading at in.reuters.com

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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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LATEST NEWS : Singapore to launch gold contract as Asia eyes price alternatives

SINGAPORE, June 24 (Reuters) – Singapore is set to announce the launch of a gold futurescontract on Wednesday, two sources familiar with the matter said, joining a race in Asia to provide a viable alternative to the metal’s global benchmark which is under regulatory scrutiny. The physically settled contract will trade on the Singapore Exchange. This […]

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China's yuan dislodges Swiss franc as 7th most-used currency: SWIFT

China’s yuan surpassed the Swiss franc to become the seventh most-used world payments currency in January, global transaction services organization SWIFT said on Thursday. With a market share of 1.39 percent, the yuan remained one of the top 10 most-usedcurrencies for payments worldwide for the third consecutive month. It ranked eighth in December. Yuan payments increased by 30.6 percent while the growth for all […]

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Barclays to cut 12,000 jobs, pays bigger bonuses

(Reuters) – Barclays said it would axe up to 12,000 jobs this year even as it raised bonuses for investment bankers, prompting fury among politicians and unions who said it had not learned the lessons of the financial crisis. Britain’s third-biggest bank said up to 9 percent of employees could go, including 7,000 in Britain, […]

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PRECIOUS-Gold rises on growth fears, focus on Fed's Yellen testimony

LONDON, Feb 10 (Reuters) – Gold rose on Monday after a weak U.S. jobs report last week raised questions over economic recovery, which could potentially slow the pace of the Federal Reserve’s stimulus tapering. Attention this week will switch to the first testimony from the new head of the Federal Reserve, Janet Yellen, to U.S. […]

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Wisdom Wednesday's – Lesson 5 – Never Be "Tied Down" By Your Investments

I’m currently in Christchurch, New Zealand, which is why this lesson is out late. Just done 40 hours of travel and every time I get on a plane for business, especially one that’s more than 5 hours, in this case, 13 hours to Singapore, 12 hour lay over and then 11 hours to Christchurch… My […]

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PRECIOUS-Gold rises 1.1 pct after weak U.S., China data; S&P dives

“Gold rose more than 1 percent on Monday after disappointing manufacturing data from the United States and China pummelled Wall Street, while jitters about emerging markets bolstered an investor flight to safety. The Institute for Supply Management data showed growth in U.S. manufacturing slowed sharply in January on the back of the biggest drop in new orders in 33 years, […]

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Gold Vault Opens in China as Bullion Goes From West to East

A gold vault that can store 2,000 metric tons, double China’s projected consumption this year, opened in Shanghai this month as owner Malca-Amit Global Ltd. seeks to benefit from rising demand in Asia’s largest economy. The facility is the biggest for the Hong Kong-based company, and it can also store diamonds, jewelry and art, Joshua Rotbart, […]

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Thai Gold Buyer Doubles Imports After Bear Slump: Southeast Asia

“YLG Bullion International Co., Thailand’s biggest domestic gold importer, expects to more than double purchases this year after the bear market in prices spurred a surge in demand for physical metal. The company may import as much as 200 metric tons in 2013, from 92 tons last year, Chief Executive Officer Pawan Nawawattanasub said in […]

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