Gold shines to new record high

GOLD settled at a record high for the second consecutive session and silver posted a fresh 30-year peak today as worries about inflation persisted and intensified Mideast unrest boosted the metals' allure as refuge investments.

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Investment demand to support gold price next year

By Santhosh V Perumal

Investment demand will continue to hold up gold prices in 2011 but a “significant and sustainable” upsurge in real yields is the biggest risk, according to Bank Sarasin.
“The price of gold has been mostly driven by investment demand in recent months. This is mainly reflected by the increasing quantities of gold held by exchange-traded funds (ETFs), which physically hold the yellow metal,” the bank said in its latest report.

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Goldman Sachs: Gold will strike $1.75k in 2012

 

Goldman Sachs sees gold prices peaking at $1,750 an ounce in 2012 as strong U.S. economic growth is expected in 2011 and 2012 and U.S. real interest rates will begin to rise, the bank said on Wednesday in a research note.

Goldman reiterated its forecast for gold for the next 12 months to rise to $1,690 and did not give any new trading recommendations. Their average gold price for 2012 is $1,700.

Read more: Goldman Sachs: Gold will strike $1.75k in 2012

Gold Price Up, Silver Slips with Industrial Metals, as Libya Chaos Drives Oil & Inflation Higher

The Gold Price rose further in London trade Thursday morning, hitting new 2011 highs for Dollar investors as Brent crude oil jumped to $119 per barrel and a raft of economic analysis warned of "stagflation" ahead for the global economy.

Silver Prices ticked lower with platinum and palladium – metals which also find the bulk of their demand from industry, rather than investment or jewelry.

Saudi Arabia meantime offered to match failed Libyan supplies of crude oil, as new estimates said output from Africa's 3rd largest producer fell by two-thirds since unrest first spilled into rebellion against Colonel Gaddafi's regime a week ago.

Read more: Gold Price Up, Silver Slips with Industrial Metals, as Libya Chaos Drives Oil & Inflation Higher

Gold price rises again

By ninemsn

Gold rose on Monday, even as the euro weakened, as investors sought a safe haven when the European Central Bank issued a warning about the region's finances and Moody's said it may cut debt ratings for some Spanish banks.


Tensions on the Korean peninsula also fed the safety bid for gold after an artillery firing drill by the South Korean military on a disputed island near the border with the North.

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Gold Gains as European Debt Concern, Korean Tensions Increase Haven Demand

By Jae Hur, Dec 2  2010

 

Gold gained for a fourth day, trading near the highest level in almost three weeks, on lingering military tensions on the Korean peninsula and concern that Europe’s debt crisis may escalate.

Immediate-delivery gold gained 0.3 percent to $1,391.38 an ounce at 11:57 a.m. in Tokyo after yesterday touching $1,397.50, the highest price since Nov. 12. Bullion has gained 27 percent this year, reaching a record $1,424.60 an ounce on Nov. 9.

Read more: Gold Gains as European Debt Concern, Korean Tensions Increase Haven Demand

Gold show gains in weaker dollar

By Balita

CHICAGO, Dec. 28 — Gold futures on the COMEX Division of the New York Mercantile Exchange recovered from earlier lows on Monday amid thin holiday trading.
A weaker U.S. dollar and short-covering helped lift gold prices. Platinum also edged higher, but silver barely changed.
The most active gold contract for February delivery added 2.4 dollars, or 0.2 percent, to 1,382.9 dollars per ounce.

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Gold price to continue rising in 2011

By Alex MacDonald

GOLD mining companies expect the current gold rush to continue as gold prices are forecast to continue rising in 2011.

The positive run on gold is expected to continue because of the financial concerns about the state of the global economy, PriceWaterhouseCoopers said in a survey published today.

PWC interviewed executives at 44 companies and found that nearly 75 per cent of all the gold mining companies expect gold prices to continue rising until the fourth quarter of 2011 and about 82 per cent of those surveyed expect their forecasted gold production to increase.

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China Gold Imports headed for big rise

By This email address is being protected from spambots. You need JavaScript enabled to view it., MarketWatch

 

HONG KONG (MarketWatch) — China’s gold imports are on track for a sharp increase this year, with data for the first 10 months showing bullion shipments up more than four times amid rising interest among investors seeking out a hedge against inflation.

Bullion imported into China in the January-to-October period totaled 209.7 metric tons, compared to 45 metric tons in all of 2009, according to reports Thursday citing figures announced by Shanghai Gold Exchange Chairman Shen Xiangrong.

If current trends hold, China’s gold imports could rise nearly sixfold by the end of the year, according to calculations based on monthly averages.

Gold future trade in tight range amid low volume after China raises rates

By FuturesPros

Gold futures traded in a tight range in volatile, holiday-thinned trade on Monday, rising to a 3-day  high, as the U.S. dollar weakened and investors bought the precious metal after prices dropped earlier following China’s unexpected interest rate hike over the Christmas weekend.   

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Gold rises on euro recovery ahead of EU debt summit

By Gulfnews

London: Gold firmed in Europe yesterday as the euro recovered some lost ground against the dollar ahead of an EU summit later in the day, at which leaders are trying to agree on further action to tackle the region's debt crisis.

Spot gold was bid at $1,383.44 (Dh5,077.22) an ounce at 1037 GMT, against $1,380.45 late in New York on Wednesday. US gold futures for February delivery fell $1.60 to $1,384.50.

The single currency rose 0.1 per cent versus the dollar but is still down nearly 7.6 per cent so far this year after the crisis hit Ireland and Greece, and threatened to spread to Portugal and Spain.

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Gold forecast to rally through $1300 By: Contributor

The consultancy feels that the ability of the gold price to manage record highs this year was to a large extent due to the firmer footing of falling scrap and recovering jewellery demand. 
 
GFMS released Gold Survey 2010 - Update 1, their latest report on the gold market, at a launch in London. The following details some of the highlights of the report from the briefing given at the launch by Philip Klapwijk, chairman of the independent metals research consultancy.

Read more: Gold forecast to rally through $1300 By: Contributor