Gold further declines as EU concerns eased
Gold futures on the COMEX Division of the New York Mercantile Exchange further declined on Thursday, as market concerns over EU debt crisis were eased after Italy succeeded in its bond auction and a new Greek leader was named.
The most active gold contract for Dec. delivery shed 32 U.S. dollars, or 1.8 percent, the biggest drop three weeks, to 1,759.6 dollars per ounce.
Market analysts said that the positive movement in the Europe helped alleviated market concerns to some extent and thus dampened such safe-haven demands.
The Italian government managed to sell five billion euros (6.8 billion dollars) in 12-month Treasury bills, the maximum for the Treasury auction, in the face of rising yield. Besides, in Greece, a former vice president of the European Central Bank was named as the country's new prime minister.
Meanwhile. the upbeat U.S. economic data added to the negative sentiment in gold market. The U.S. Labor Department reported that initial jobless claims fell by 10,000 to a seasonally adjusted 390, 000 in the week ended Nov. 5. The Commerce Department said that the U.S. trade deficit contracted four percent in Sept. to 43.1 billion dollars.
However, some analysts noted that the debt problem in EU is unlikely to be resolved for good and the safe-haven demands would come back sooner or later.
Silver for Dec. delivery dropped 25.5 U.S. cents, or 0.7 percent, to 34.106 dollars per ounce. Platinum for Jan. delivery also shed 16.4 dollars, or one percent, to 1,627.3 dollars per ounce.
Editor: Mu Xuequan
English.news.cn 2011-11-11 06:10:34 FeedbackPrintRSS
CHICAGO, Nov. 10 (Xinhua)
Wednesday, November 23, 2011
Gold price opens lower in Hong Kong
Gold price opens lower in Hong Kong
The gold price in Hong Kong went down 130 HK dollars to open at 16,430 HK dollars per tael on Thursday, according to the Chinese Gold and Silver Exchange Society.
The price is equivalent to 1,773.62 U.S. dollars a troy ounce, down 15.41 U.S. dollars at the latest exchange rate of one U.S. dollar against 7.776 HK dollars.
Editor: Wang Guanqun
English.news.cn 2011-11-10 09:45:52 FeedbackPrintRSS
HONG KONG, Nov. 10 (Xinhua)
The gold price in Hong Kong went down 130 HK dollars to open at 16,430 HK dollars per tael on Thursday, according to the Chinese Gold and Silver Exchange Society.
The price is equivalent to 1,773.62 U.S. dollars a troy ounce, down 15.41 U.S. dollars at the latest exchange rate of one U.S. dollar against 7.776 HK dollars.
Editor: Wang Guanqun
English.news.cn 2011-11-10 09:45:52 FeedbackPrintRSS
HONG KONG, Nov. 10 (Xinhua)
Gold declines as dollar gains strength
Gold declines as dollar gains strength
Gold futures on the COMEX Division of the New York Mercantile Exchange on Wednesday retreated after it failed to hold the 1,800-dollar mark, representing the first decline in the latest three trading days, as a stronger dollar pared the appeal of gold as an alternative investment.
The most active gold contract for Dec. delivery declined 7.6 U. S. dollars, or 0.4 percent, to 1,791.6 dollars per ounce, although it topped the 1,800-dollar mark during the intraday trading.
Market analysts said that dollar's rally has held back the advancing gold, as a stronger dollar makes the metal less attractive for investors with other currencies. The dollar index, which measures the price of dollar against six other currencies, traded around 77.9, up 1.6 percent from the prior trading day.
Besides, gold was unable to hold the psychological 1,800-dollar level on Wednesday and the failure may have caused traders to take profits, said Mike Daley, a senior gold analyst with PFGBEST Group.
Silver for Dec. delivery dropped 79.2 U.S. cents, or 2.25 percent, to 34.361 dollars per ounce. Platinum for Jan. delivery also shed 29.4 dollars, or 1.76 percent, to 1,643.7 dollars per ounce.
Editor: Mu Xuequan
English.news.cn 2011-11-10 06:12:41 FeedbackPrintRSS
CHICAGO, Nov. 9 (Xinhua)
Gold futures on the COMEX Division of the New York Mercantile Exchange on Wednesday retreated after it failed to hold the 1,800-dollar mark, representing the first decline in the latest three trading days, as a stronger dollar pared the appeal of gold as an alternative investment.
The most active gold contract for Dec. delivery declined 7.6 U. S. dollars, or 0.4 percent, to 1,791.6 dollars per ounce, although it topped the 1,800-dollar mark during the intraday trading.
Market analysts said that dollar's rally has held back the advancing gold, as a stronger dollar makes the metal less attractive for investors with other currencies. The dollar index, which measures the price of dollar against six other currencies, traded around 77.9, up 1.6 percent from the prior trading day.
Besides, gold was unable to hold the psychological 1,800-dollar level on Wednesday and the failure may have caused traders to take profits, said Mike Daley, a senior gold analyst with PFGBEST Group.
Silver for Dec. delivery dropped 79.2 U.S. cents, or 2.25 percent, to 34.361 dollars per ounce. Platinum for Jan. delivery also shed 29.4 dollars, or 1.76 percent, to 1,643.7 dollars per ounce.
Editor: Mu Xuequan
English.news.cn 2011-11-10 06:12:41 FeedbackPrintRSS
CHICAGO, Nov. 9 (Xinhua)
Gold extends rally amid EU debt concerns
Gold extends rally amid EU debt concerns
Gold futures on the COMEX Division of the New York Mercantile Exchange further hiked on Tuesday, as concern that European leaders will be unable to address the region' s debt crisis continued to spur safe-haven demands.
The most active gold contract for Dec. delivery climbed 8.1 U.S. dollars, or 0.45 percent, to 1,799.2 dollars per ounce.
Market analysts said that the fragility in the euro zone prompted investors to rush for gold as their safe haven investment.
Italian Prime Minister Silvio Berlusconi offered to resign as soon as the Parliament approves austerity measures in a vote next week, as the yield of Italy's government bond continued to hike.
A trader noted that Italy's instability continues to fuel the feeling that the crisis is not contained, and will spread further in Europe.
The trader forecasted that gold would trader at 1,800-1,900 dollars per ounce in early 2012 and might hit 2,000 dollars by the second quarter.
Silver for Dec. delivery rose 32.5 U.S. cents, or 0.9 percent, to 35.153 dollars per ounce. Platinum for Jan. delivery also gained 15.1 dollars, or 0.9 percent, to 1,673.1 dollars per ounce.
Editor: Mu Xuequan
English.news.cn 2011-11-09 06:05:57 FeedbackPrintRSS
CHICAGO, Nov. 8 (Xinhua)
Gold futures on the COMEX Division of the New York Mercantile Exchange further hiked on Tuesday, as concern that European leaders will be unable to address the region' s debt crisis continued to spur safe-haven demands.
The most active gold contract for Dec. delivery climbed 8.1 U.S. dollars, or 0.45 percent, to 1,799.2 dollars per ounce.
Market analysts said that the fragility in the euro zone prompted investors to rush for gold as their safe haven investment.
Italian Prime Minister Silvio Berlusconi offered to resign as soon as the Parliament approves austerity measures in a vote next week, as the yield of Italy's government bond continued to hike.
A trader noted that Italy's instability continues to fuel the feeling that the crisis is not contained, and will spread further in Europe.
The trader forecasted that gold would trader at 1,800-1,900 dollars per ounce in early 2012 and might hit 2,000 dollars by the second quarter.
Silver for Dec. delivery rose 32.5 U.S. cents, or 0.9 percent, to 35.153 dollars per ounce. Platinum for Jan. delivery also gained 15.1 dollars, or 0.9 percent, to 1,673.1 dollars per ounce.
Editor: Mu Xuequan
English.news.cn 2011-11-09 06:05:57 FeedbackPrintRSS
CHICAGO, Nov. 8 (Xinhua)
Gold price opens higher in Hong Kong
Gold price opens higher in Hong Kong
The gold price in Hong Kong went up 240 HK dollars to open at 16,640 HK dollars per tael on Tuesday, according to the Chinese Gold and Silver Exchange Society.
The price is equivalent to 1,797.91 U.S. dollars a troy ounce, up 25.71 U.S. dollars at the latest exchange rate of one U.S. dollar against 7.769 HK dollars.
Editor: Wang Guanqun
English.news.cn 2011-11-08 10:06:37 FeedbackPrintRSS
HONG KONG, Nov. 8 (Xinhua)
The gold price in Hong Kong went up 240 HK dollars to open at 16,640 HK dollars per tael on Tuesday, according to the Chinese Gold and Silver Exchange Society.
The price is equivalent to 1,797.91 U.S. dollars a troy ounce, up 25.71 U.S. dollars at the latest exchange rate of one U.S. dollar against 7.769 HK dollars.
Editor: Wang Guanqun
English.news.cn 2011-11-08 10:06:37 FeedbackPrintRSS
HONG KONG, Nov. 8 (Xinhua)
Canadian stocks slightly higher as gold futures climb
Canadian stocks slightly higher as gold futures climb
The Canadian stock markets were slightly higher on Monday as gold prices hike offset investors' concern about political turmoil in Europe.
The S&P/TSX Composite Index rose 53.73 points, or 0.43 percent, at 12,461.98. The S&P/TSX Venture Composite Index slightly gained 11.91 points, or 0.72 percent, at 1,661.92.
Worries about Italy's finances drove the prices of gold futures up on Monday. After the yield on Italian 10-year bonds jumped another 0.33 of a percentage point to 6.58 percent, reaching its highest level since the euro zone was established in 1999 and closer to the seven percent threshold that forced Ireland and Portugal to accept bailout, the market has switched its focus to Italy.
Bullion prices have made strides amid traders' fears about Europe's debt crisis. Shares in Barrick Gold Corp. advanced 2.51 percent.
Since gold sector occupied roughly 13 percent of the broader index on the TSX, the rise in gold miners helped lift other related sectors on the markets. The industrials sector moved up 0. 57 percent.
The turmoil in Italy, one of Europe's biggest economies, extended the European debt crisis that has embraced the region as well as the global markets. If its cost of borrowing rises too much, the country wouldn't be able to raise the money it needs to roll over its debts, creating big problems for the European banking system.
Due to the deepening worries about the stability of Greece and Italy, four of the TSX's main sectors were down, with metals and mining stocks a significant drag.
The index measuring the diversified metals and mining sector on the TSX plunged 1.04 percent on Monday. The uranium miner Cameco shares dropped 6.52 percent after it said its third-quarter profits dropped seven percent.
On the currency front, the Canadian dollar turned around an earlier loss against the U.S. dollar.
One U.S. dollar was buying 1.0126 Canadian dollars at 5 p.m. local time (2200 GMT) on Monday, compared with 1.0186 Canadian dollars on Friday.
Editor: Chen Zhi
English.news.cn 2011-11-08 08:02:03 FeedbackPrintRSS
TORONTO, Nov. 7 (Xinhua)
The Canadian stock markets were slightly higher on Monday as gold prices hike offset investors' concern about political turmoil in Europe.
The S&P/TSX Composite Index rose 53.73 points, or 0.43 percent, at 12,461.98. The S&P/TSX Venture Composite Index slightly gained 11.91 points, or 0.72 percent, at 1,661.92.
Worries about Italy's finances drove the prices of gold futures up on Monday. After the yield on Italian 10-year bonds jumped another 0.33 of a percentage point to 6.58 percent, reaching its highest level since the euro zone was established in 1999 and closer to the seven percent threshold that forced Ireland and Portugal to accept bailout, the market has switched its focus to Italy.
Bullion prices have made strides amid traders' fears about Europe's debt crisis. Shares in Barrick Gold Corp. advanced 2.51 percent.
Since gold sector occupied roughly 13 percent of the broader index on the TSX, the rise in gold miners helped lift other related sectors on the markets. The industrials sector moved up 0. 57 percent.
The turmoil in Italy, one of Europe's biggest economies, extended the European debt crisis that has embraced the region as well as the global markets. If its cost of borrowing rises too much, the country wouldn't be able to raise the money it needs to roll over its debts, creating big problems for the European banking system.
Due to the deepening worries about the stability of Greece and Italy, four of the TSX's main sectors were down, with metals and mining stocks a significant drag.
The index measuring the diversified metals and mining sector on the TSX plunged 1.04 percent on Monday. The uranium miner Cameco shares dropped 6.52 percent after it said its third-quarter profits dropped seven percent.
On the currency front, the Canadian dollar turned around an earlier loss against the U.S. dollar.
One U.S. dollar was buying 1.0126 Canadian dollars at 5 p.m. local time (2200 GMT) on Monday, compared with 1.0186 Canadian dollars on Friday.
Editor: Chen Zhi
English.news.cn 2011-11-08 08:02:03 FeedbackPrintRSS
TORONTO, Nov. 7 (Xinhua)
Gold drops as dollar firms, equities retreat
Gold drops as dollar firms, equities retreat
Gold futures on the COMEX Division of the New York Mercantile Exchange lost 0.5 percent Friday, pressured by the newly-gained strength in U.S. dollar, weakness in stocks market and investors' profit-taking.
The most active gold contract for December delivery dropped 9 dollars, or 0.5 percent, to 1,756.1 dollars per ounce.
A trader said equity and other risk assets dropped on Friday, as many investors are reluctant to take risks ahead of Friday's confidence vote in Greek government after a week of dramatic developments in the debt-beleaguered nation.
Dollar regained some steam on Friday as investors feared that further turmoil in Greece could jeopardize Europe's plans for containing its quickly spreading debt crisis. The greenback also gained some support after a U.S. Labor Department report showed the U.S. economy added 80,000 jobs in October, short of expectations for a gain of 100,000.
The stronger dollar has weighed on the dollar-denominated precious metal by making it pricier for investors and traders holding other currencies. And the bullion's earlier rally also attracted some investors to book in some profit before weekend, but the precious metal managed to close the week with a gain of 0. 5 percent.
"The Gold market has rallied this week as traders and investors are choosing the precious metals as their 'safe haven' alternative investment," said Mike Daly, gold specialist with PFGbest here in Chicago.
"This week it seemed like the news from the Euro Region was changing minute to minute. Rumors flied adding to the global investor uncertainty. During times of economic chaos the precious metals historically have retained their value better than most other commodities," Daly added.
Silver for December delivery pared 41.4 cents, or 1.2 percent, to 34.084 dollars per ounce. Platinum for January delivery softened 17.7 dollars, or 1.1 percent, to 1,629.3 dollars per ounce.
Editor: yan
English.news.cn 2011-11-05 03:56:33 FeedbackPrintRSS
CHICAGO, Nov. 4 (Xinhua)
Gold futures on the COMEX Division of the New York Mercantile Exchange lost 0.5 percent Friday, pressured by the newly-gained strength in U.S. dollar, weakness in stocks market and investors' profit-taking.
The most active gold contract for December delivery dropped 9 dollars, or 0.5 percent, to 1,756.1 dollars per ounce.
A trader said equity and other risk assets dropped on Friday, as many investors are reluctant to take risks ahead of Friday's confidence vote in Greek government after a week of dramatic developments in the debt-beleaguered nation.
Dollar regained some steam on Friday as investors feared that further turmoil in Greece could jeopardize Europe's plans for containing its quickly spreading debt crisis. The greenback also gained some support after a U.S. Labor Department report showed the U.S. economy added 80,000 jobs in October, short of expectations for a gain of 100,000.
The stronger dollar has weighed on the dollar-denominated precious metal by making it pricier for investors and traders holding other currencies. And the bullion's earlier rally also attracted some investors to book in some profit before weekend, but the precious metal managed to close the week with a gain of 0. 5 percent.
"The Gold market has rallied this week as traders and investors are choosing the precious metals as their 'safe haven' alternative investment," said Mike Daly, gold specialist with PFGbest here in Chicago.
"This week it seemed like the news from the Euro Region was changing minute to minute. Rumors flied adding to the global investor uncertainty. During times of economic chaos the precious metals historically have retained their value better than most other commodities," Daly added.
Silver for December delivery pared 41.4 cents, or 1.2 percent, to 34.084 dollars per ounce. Platinum for January delivery softened 17.7 dollars, or 1.1 percent, to 1,629.3 dollars per ounce.
Editor: yan
English.news.cn 2011-11-05 03:56:33 FeedbackPrintRSS
CHICAGO, Nov. 4 (Xinhua)
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