Friday Market http://fridaymarket.org What's the hottest Market Today Wed, 22 Feb 2012 16:11:06 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Outlook for bullion prices continues to be bullish http://fridaymarket.org/2012/02/outlook-for-gold-prices-continues-to-be-bullish/ http://fridaymarket.org/2012/02/outlook-for-gold-prices-continues-to-be-bullish/#comments Wed, 22 Feb 2012 16:11:06 +0000 admin http://fridaymarket.org/2012/02/outlook-for-gold-prices-continues-to-be-bullish/
  • Text size
  •  
  •  

    • Sunday, Aug 21, 2011

    Gulf News

    Abu Dhabi: Despite new profit-taking in gold, bets are being placed a changed yellow metal’s prices will scale new highs over a middle to long-term on signs a tellurian mercantile expansion is faltering, experts say.

    Commodity traders contend shopping bullion on cost dips might still be a good investment event for UAE residents, generally for those who missed out on a final rally.

    Gold strike a record $1,880 (Dh6,905) an unit on Friday as European batch markets fell, strike by concerns over Eurozone debt levels and fears of a double drop recession. With a ongoing doubt over a destiny of European economies, prices are expected to sojourn high, and could continue to rise.

    “The opinion on bullion continues to be bullish. The marketplace is now holding a breather. By a finish of a year, bullion prices could still tip $2,000 an unit as a shopping transformation continues to be strong, especially in bullion coins and bullion bars,” Tushar Patni, handling executive of Ajanta Jewellery in Abu Dhabi told Gulf News.

    Historically speaking, bullion prices have some-more than quadrupled given a spin of a century and a interest of line as a protected breakwater is undiminished. Not usually have a bullion investments yielded aloft earnings compared to other item classes, yet it is comparatively easy to buy and sell. With earnings on batch markets and skill investments looking increasingly uncertain, some-more and some-more people are shopping bullion as a sidestep opposite inflation.

    How to deposit in gold

    There are several ways to deposit in gold, yet a easiest and a many required is shopping earthy bullion coins, bullion bars or bullion trinket from a jeweller.

    Another approach is shopping World Gold CouncilWorld Gold Council coin, released by jewellers who are partial of a World Gold CouncilWorld Gold Council network. Then there is a choice of shopping bars of bullion bullion, an glorious — if costly — investment that is over a means of many common investors.

    Gold Exchange Traded Funds (ETFs) are also a prohibited choice in a stream climate. Operating like mutual funds, ETFs deposit exclusively in bullion and are proof an easier and safer approach to buy a changed metal. Not usually are charges less, yet a bullion can be accessed electronically. The waste is that a owners never gets to indeed see their gold.

    The subsequent step for an desirous financier is investing in bullion futures around sell traded contracts by purebred brokers. Futures contracts on a Dubai Gold and Commodities ExchangeDubai Gold and Commodities Exchange (DGCXDGCX) have inbuilt smoothness options, and are a good approach to make income from a fall, as good as a arise of gold.

    “Investing in bullion yet futures and options also provides high precedence and helps to take advantage of a short-term and medium-term cost movement,” explained Pradeep Unni, comparison attribute manager during Dubai-based line trade organisation Richcomm Global Services DMCC.

    “Futures contracts also give an disdainful event to brief sell in sequence to take advantage of a downtrend in prices.”

    For trading/investing in bullion futures contracts one needs to open an comment with a purebred attorney and contention documents.

    A certain aspect of destiny contracts is that they are rarely leveraged. An financier with $2,000 might usually be means to get reason of one unit of bullion in a bullion account or ETF, yet in a futures agreement investment, a same investment might extend a financier 32 ounces of bullion by a bullion futures on a Dubai Gold and Commodities ExchangeDubai Gold and Commodities Exchange. The lapse on investment, therefore, would be significantly higher.

    Not defence to risks

    Taking increase in bullion is clearly investor-centric. If an financier trades in a brief term, it is probable to make $5 or $10 lapse on an investment, while long-term trades might continue to reason until their aim prices are reached and futures contracts on DGCXDGCX are so structured that one can hurl over one’s position to a subsequent month by profitable a tiny premium.

    That said, bullion is not defence to ubiquitous panic in other markets and will therefore pierce in line with ubiquitous marketplace sentiment.

    “Gold is usually a protected breakwater asset, yet not indispensably an investment product to store over really prolonged time-frame. We have seen really aroused corrections in a past that has eroded a certainty of a investors,” explained Unni.

    By Himendra Mohan Kumar, Staff Reporter

    © Gulf News 2011. All rights reserved.

    Incoming search terms for the article:

    ]]>     http://fridaymarket.org/2012/02/outlook-for-gold-prices-continues-to-be-bullish/feed/ 0     Gold eases as confidence over Greek bailout dissipates http://fridaymarket.org/2012/02/gold-eases-as-optimism-over-greek-bailout-dissipates/ http://fridaymarket.org/2012/02/gold-eases-as-optimism-over-greek-bailout-dissipates/#comments Wed, 22 Feb 2012 16:08:43 +0000 admin http://fridaymarket.org/2012/02/gold-eases-as-optimism-over-greek-bailout-dissipates/

    By Jan Harvey

    LONDON |
    Wed Feb 22, 2012 8:24am EST

    LONDON (Reuters) – Gold prices retreated from an progressing two-week high in Europe on Wednesday as determined concerns over Europe’s finances harm a euro and weighed on batch markets, while a supply dissapoint in vital writer South Africa carried bullion to a five-month high.

    Spot bullion was down 0.2 percent during $1,754.93 an unit during 1306 GMT, carrying progressing overwhelmed a high of $1,759.84, while U.S. bullion futures for Feb smoothness were down $1.40 an unit during $1,757.20.

    The euro struggled for traction contra a dollar, retreating from a prior day’s nearby two-week high as confidence over a long-awaited Greek bailout understanding fast gave approach to worries about mercantile expansion and doing risks.

    FRX/

    The 130-billion-euro ($172 billion) rescue for Greece concluded by euro section financial ministers on Tuesday came during a cost of forcing Athens to dedicate to unpopular cuts and private bondholders to take bigger losses.

    “Every time we have another package (for Greece) concluded or some-more concessions wrung from investors, there is an ever some-more pale cheer. Cynicism is creeping in, and that is inspiring a bullion price,” pronounced Sharps Pixley Chief Executive Ross Norman. “It firmed a bit with a bailout, though not significantly so.”

    European shares retreated from early highs and safe-haven German Bund futures rose after weaker-than-expected mercantile information and as investors disturbed about a tough charge Greece faces to exercise a bill cuts required. .EU GVD/EUR

    A shelter in risk ardour also weighed on other line such as copper and oil. MET/L O/R

    “Even presumption a new Greek programme deduction as planned, a Greek supervision predicament is distant from over,” pronounced HSBC in a note. “This understanding will assistance creditors to be repaid, as a supports will be channeled into an escrow comment to safeguard that lenders are prioritized, though it will not revitalise mercantile expansion any time soon.

    “With a Greek economy now in a fifth year of retrogression and already carrying engaged in a fourth entertain by 7 percent year-on-year, even a revised debt sustainability research looks optimistic.”

    RATE OUTLOOK SUPPORTS GOLD

    In a longer term, bullion is approaching to continue benefiting from low U.S. seductiveness rates, executive bank shopping and clever direct from pivotal markets like China. Goldman Sachs reiterated a certain 12-month perspective on bullion on Wednesday.

    “We design U.S. genuine seductiveness rates to sojourn reduce for longer given a U.S. economics team’s expectancy for U.S. mercantile expansion to sojourn delayed by 2012,” it said.

    “Consequently, we design bullion prices to continue to arise by 2012, reaching $1,940 an unit in 12 months, and we continue to suggest a prolonged bullion position.”

    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

    Asset earnings in 2012: link.reuters.com/muc46s

    Commodity earnings in 2012: link.reuters.com/faz36s

    Gold/silver ratio: r.reuters.com/xyx52s

    Gold/platinum ratio: link.reuters.com/xez92s

    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

    Among other changed metals, china was down 0.6 percent during $34.08 an ounce. Spot bullion was adult 0.6 percent during $1,693.49 an ounce, while mark palladium was adult 0.4 percent during $710.22 an ounce.

    Platinum prices rallied to their top given Sep 22 in progressing trade during $1,705.50 an ounce, carried by ongoing disturbance during one of a world’s biggest bullion mines, Impala Platinum’s Rustenberg facility.

    A aroused labor brawl during a cave has already cost Implats during slightest 80,000 ounces in mislaid output. Implats pronounced on Tuesday it was carefree that many of a workforce during a Rustenburg operations would be swayed by kinship leaders to lapse to work.

    “We consider a delayed lapse to prolongation during Impala’s Rustenburg operations over a subsequent month is likely, with sum mislaid outlay approaching to surpass 100,000 ounces of bullion and 45,000 ounces of palladium,” pronounced Credit Suisse in a note.

    “The marketplace does not ‘need’ those ounces during present: industrial and valuables direct are both now subdued, and bullion consume is trade during a poignant bonus to ingot.”

    Nonetheless, bullion narrowed a historically rare bonus to bullion to around $65 from $230 in January.

    (Editing by Alison Birrane)

    Incoming search terms for the article:

    ]]>     http://fridaymarket.org/2012/02/gold-eases-as-optimism-over-greek-bailout-dissipates/feed/ 0     Paying attention to sector performance can prove helpful http://fridaymarket.org/2012/02/paying-attention-to-sector-performance-can-prove-helpful/ http://fridaymarket.org/2012/02/paying-attention-to-sector-performance-can-prove-helpful/#comments Wed, 22 Feb 2012 15:48:11 +0000 admin http://fridaymarket.org/2011/06/paying-attention-to-sector-performance-can-prove-helpful/

    Q: What trends can investors glean by studying the performance of industry groups and sectors?

    • Traders use a variety of stock charts tracing individual stock and sector performance.

      By Richard Drew, AP

      Traders use a variety of stock charts tracing individual stock and sector performance.

    By Richard Drew, AP

    Traders use a variety of stock charts tracing individual stock and sector performance.

    A: “It’s a stock picker’s market,” is a common cliché on Wall Street. But there’s more to understanding how stocks move than just looking at a company’s sales and earnings.

    To be sure, a company’s growth, profit and cash flow are the driving forces of its stock price over the long term. If a company continues to deliver robust results, and the stock doesn’t move, eventually the shares will be so cheap that buyers will be drawn in. Similarly, if a company’s profits are falling apart, it doesn’t take investors long to take the stock down.

    But in the meantime, there can be many other factors that move stock prices. This fact often befuddles investors, especially when shares of a stock might fall despite the company reporting strong earnings growth. For one thing, investors’ expectations are a big determining factor of how stock prices react. Even if a company reports strong earnings growth, for instance, if the growth didn’t exceed expectations the stock might still go down.

    Similarly, there are some macro-economic factors that can sway stocks. The industry a company is in can be a big determining influence on the stock price. For instance, if it looks like the economy is about to slow down, investors will shift into shares of companies in industries that tend to hold up better during slow economic times, such as health care, utilities and consumer staples.

    Meanwhile, when investors expect the economy will be strong, they move into areas that are dependent on a strong economy, such as finances, consumer durables and technology.

    Investors who pay close attention to the moves of industries can get insights into the market’s direction. For instance, even before you read economic reports of a weak economy, you might first see shares of healthcare, utilities and consumer staple stocks strengthen relative to the market. This is an early tip off and a big reason why investors are wise to pay close attention to movements, beneath the surface of the major market indexes, in industry sectors.

    Ask Matt about stocks

    USA TODAY financial markets reporter Matt Krantz answers a new question every weekday at money.usatoday.com.

    Luckily, there’s an easy way for investors to closely watch industry stock trends. Every Monday, USA TODAY produces the Market Trends page, which plots the movements of all the key market industry groups and sectors in a color-coded grid. Market Trends appears every Monday in the print edition of USA TODAY and also online at the Money section of USATODAY.com.

    Matt Krantz is a financial markets reporter at USA TODAY and author of Investing Online for Dummies and Fundamental Analysis for Dummies. He answers a different reader question every weekday in his Ask Matt column at money.usatoday.com. To submit a question, e-mail Matt at mkrantz@usatoday.com. Follow Matt on Twitter at: twitter.com/mattkrantz

    Posted




    Incoming search terms for the article:

    ]]>     http://fridaymarket.org/2012/02/paying-attention-to-sector-performance-can-prove-helpful/feed/ 0     Goldman Lowers Commodity Returns Forecast, Keeps Overweight Recommendation http://fridaymarket.org/2012/02/goldman-lowers-commodity-returns-forecast-keeps-overweight-recommendation/ http://fridaymarket.org/2012/02/goldman-lowers-commodity-returns-forecast-keeps-overweight-recommendation/#comments Wed, 22 Feb 2012 10:08:29 +0000 admin http://fridaymarket.org/2012/02/goldman-lowers-commodity-returns-forecast-keeps-overweight-recommendation/ Goldman Sachs Group Inc. (GS) cut a 12-
    month prophecy for commodity returns, while forecasting gains
    for wanton oil and bullion and gripping an “overweight” allocation
    in tender materials.

    The bank reduced a guess for earnings to 12 percent
    from 15 percent after prices rallied this year, analysts led by
    Jeffrey Currie pronounced in a news today. They kept their
    predictions for Brent and bullion during $127.50 a tub and $1,940 an
    ounce compared with $121.23 and $1,755.30 today.

    Commodities modernized 8.5 percent this year to a highest
    level in 6 months as totalled by a Standard Poor’s GSCI
    index of 24 tender materials. Prices climbed as a U.S. economy
    strengthened and a Chinese executive bank cut reserve
    requirements. While Morgan Stanley is also bullish on gold, it
    expects oil prices to decrease in a initial half as supply
    recovers and direct slows, it pronounced in a news Feb. 20.

    “With most of a ‘value’ opportunities behind us, we look
    to elemental drivers for serve approaching gains in 2012, which
    we trust will be centered in a oil complex,” pronounced Goldman.
    Oil climbed to a nine-month high in New York yesterday after
    Greece won a second bailout. Gold modernized 12 percent this year.

    The bank is bullish on oil since a cost is vulnerable
    to supply disruptions from Iran and elsewhere and OPEC spare
    capacity is “at a trough” only as a universe mercantile recovery
    is gaining momentum, it said.

    Iran, China

    The European Union concluded final month to anathema wanton imports
    from Iran starting Jul 1 to boost vigour on a country
    over a chief program. The Middle Eastern nation pronounced Feb.
    19 it stopped offered wanton to France and Britain.

    Brent for Apr smoothness fell 0.4 percent to $121.23 in
    London currently and bullion for a same month in New York declined
    0.2 percent to $1,755.30.

    Manufacturing in China, a biggest consumer of appetite and
    industrial metals, might cringe for a fourth month in February,
    indicating a economy stays exposed to a deeper slowdown
    as Europe’s predicament caps exports and a home marketplace cools.

    The rough 49.7 reading of an index from HSBC Holdings
    Plc and Markit Economics currently compared with a final 48.8 in
    January. A series next 50 signals a contraction. Jan and
    February mercantile information are twisted by a weeklong holiday.

    “Chinese construction activity and consumer appliance
    output sojourn comparatively weak,” a Goldman analysts said.
    “Recent elemental developments leave us happy to stay on the
    sidelines” of industrial metals for now, it said.

    The bank predicts copper and aluminum during $9,000 a ton and
    $2,400 a ton in 12 months compared with $8,421.50 and $2,257 now.

    The analysts see “little undisguised opportunity” in
    agriculture, presaging reduce prices in wheat and corn in 12
    months and a 2 percent benefit in soybeans.

    To hit a editor obliged for this story:
    James Poole at
    jpoole4@bloomberg.net

    Incoming search terms for the article:

    ]]>     http://fridaymarket.org/2012/02/goldman-lowers-commodity-returns-forecast-keeps-overweight-recommendation/feed/ 0     Illinois during Ohio State 2012 College Basketball Predictions – Sports http://fridaymarket.org/2012/02/illinois-at-ohio-state-2012-college-basketball-predictions-sports/ http://fridaymarket.org/2012/02/illinois-at-ohio-state-2012-college-basketball-predictions-sports/#comments Wed, 22 Feb 2012 10:07:43 +0000 admin http://fridaymarket.org/2012/02/illinois-at-ohio-state-2012-college-basketball-predictions-sports/ Illinois vs Ohio StateIllinois during Ohio State 2012 College Basketball Predictions: The 8th ranked Ohio State Buckeyes men’s basketball group needs a win opposite visiting Illinois Tuesday to keep gait with a red prohibited Michigan State Spartans who have a diversion lead over a Buckeyes in a Big Ten standings. At 16-11 altogether and 5-9 in a Big Ten, Illinois would need a spectacle to turn appealing adequate for a NCAA Tournament bid. The bottom  line for Illinois, they would need to win a Big Ten tournament. The Buckeyes, during 22-5 altogether and 10-4 in a Big Ten, are posterior a probable tip seed in one of a Men’s NCAA Tournament brackets. Tuesday’s diversion is a ESPN opener in a Big Tuesday lineup. The diversion is set to start during 7 pm ET inside Value City Arena in Columbus, Ohio.

    Oddsmakers during online sportsbook SBGglobal.com list a Buckeyes as 16-chalk favorites with a sum measure sum of 129. College Basketball Odds on a offshore moneyline are now off though should post Tuesday morning.

    Illinois is perplexing to snap a five-game losing streak, a longest in 5 years. The Illini are  3-3 opposite ranked teams this year, owning victories over No. 19 Gonzaga, No. 5 Ohio State (in Champaign) and No. 9 Michigan State. Illinois is looking for a initial highway win over a Top-25 competition given defeating No. 11 Wisconsin, 63-56, on Feb. 9, 2010.

    The Buckeyes mislaid their final time out while on a highway during opposition Michigan in Ann Arbor on Saturday. Jordan Morgan had 11 points and 11 rebounds.  Deshaun Thomas had 25 points and 14 rebounds for Ohio State (22-5, 10-4). Sullinger scored 14 on 6-for-14 shooting.

    Ohio State has usually mislaid 4 discussion games this deteriorate and one of them was to a Illini in Champaign, Ill., on Jan. 10. Buckeyes players will not remove to Illinois twice though not certain if they cover a 16 1/2 line. My Pick – Illinois + 16 1/2.

    The 2011-12 College Basketball Season is now in full pitch as schools have begun a conflict for discussion championships in  office of Mar Madness. College sports handicapper Reno Gold will be creation College Basketball Odds picks by all of Mar Madness and a NCAA Tournament. The good news for college sports bettors – RENO’S PICKS ARE FREE. Check daily for Reno Gold’s opinion on all a tip games any week for free. We also inspire we to pointer adult to get Free NCAA Basketball Picks now!

    Incoming search terms for the article:

    ]]>     http://fridaymarket.org/2012/02/illinois-at-ohio-state-2012-college-basketball-predictions-sports/feed/ 0     China’s competence drives a direct for gold http://fridaymarket.org/2012/02/chinas-might-drives-the-demand-for-gold/ http://fridaymarket.org/2012/02/chinas-might-drives-the-demand-for-gold/#comments Wed, 22 Feb 2012 10:05:51 +0000 admin http://fridaymarket.org/2012/02/chinas-might-drives-the-demand-for-gold/ The PBOC positively has a purchasing power, with large unfamiliar exchange
    pot of $3.2 trillion (£2 trillion). But a bank frequency comments on its
    bullion land and has not reported any executive change in a bullion reserves
    in scarcely 3 years, putting them during usually over 1,000 tonnes.

    That means we are doubtful to find out if it is out there buying. Nonetheless,
    a conjecture does underline a materialisation that we know is during work: central
    banks are increasingly branch to a “safe haven” metal.

    The world’s executive banks stayed net buyers of a steel in 2011, a Council
    said, with purchases climbing from 77 tonnes in 2010 to 440 tonnes, a most
    given 1964.

    This was mostly a outcome of executive banks in rising markets seeking to
    variegate their unfamiliar sell holdings, according to a Council. “This
    activity reflected continued enterprise among executive banks to variegate their
    large pot in light of credit downgrades that have brought into
    doubt a reserve of holding large amounts of US dollar and
    euro-denominated reserves.”

    Meanwhile, offered by a signatories to a Central Bank Gold Agreement
    (CBGA) – a Western executive banks – “all though dusty up”.

    Some are seeking either this should be a case. Given a problems afflicting
    many Western economies, is now a time for their executive banks to sell
    their gold?

    The thought constantly raises a spook of Gordon Brown, who infamously marked
    a bottom of a bullion cost in 1999 when a Bank of England sole during $254
    an unit on his orders.

    Nonetheless, with a eurozone predicament saying investors remove faith in
    governments’ ability to use their borrowings, a doubt as to whether
    Europe’s executive banks should assistance to cringe their nations’ debt loads in
    this approach is not going away.

    Suki Cooper, a changed metals researcher during Barclays Capital, says a thought is
    not as outlandish during it competence during initial sound.

    “Although a Central Bank Gold Agreement boundary sales in any given quota
    year … and a use of bullion deduction in propinquity to debt, it could
    technically be revised in unusual circumstances, given that the
    stream sourroundings is unprecedented,” she says.

    However, technicalities aside, offered bullion pot would infer really most a “short-term
    fix”, she warns.

    Italy, that has found itself a concentration of bond marketplace fears, is a world’s
    third-largest inhabitant hilt of gold, holding some 2,451.8 tonnes which
    make adult 71pc of a sum reserves.

    However, even if Italy sole all of a bullion it would produce usually over $130bn –
    a sum that would paint usually 6pc of Italy’s debt, according to Cooper.

    This would of march buy time, cancelling out a evident need to raise
    income in a debt markets. But as a country, we are still left with the
    constructional problems that led we into predicament in a initial place.

    On tip of that, you’ve effectively sole a nation’s family china (or gold,
    in this case). Austerity it is then.

    Incoming search terms for the article:

    ]]>     http://fridaymarket.org/2012/02/chinas-might-drives-the-demand-for-gold/feed/ 0     Gold, china movement on diseased tellurian cues, indolent demand http://fridaymarket.org/2012/02/gold-silver-skid-on-weak-global-cues-sluggish-demand/ http://fridaymarket.org/2012/02/gold-silver-skid-on-weak-global-cues-sluggish-demand/#comments Wed, 22 Feb 2012 03:48:19 +0000 admin http://fridaymarket.org/2011/06/gold-silver-skid-on-weak-global-cues-sluggish-demand/ Gold, china movement on diseased tellurian cues, indolent demand

    Both bullion and china declined on a bullion market on postulated offered by stockists and speculators due to a pointy tumble in prices of a changed metals in a ubiquitous market.

    While bullion strew Rs 220 to Rs 22,370 per 10 grams, china tumbled by Rs 750 to Rs 52,550 per kg.

    In a prior event china had mislaid Rs 1,400 per kg and bullion Rs 230.
    Dealers pronounced that offered vigour collected movement after bullion prices fell in a tellurian market, as a oath by European Union leaders to brace a region”s economy slashed direct for a metal.

    Besides, indolent direct during prevalent aloft levels serve dampened a trade sentiment, they added.

    Gold in tellurian markets, that routinely sets a cost trend on a domestic front,fell by USD 19.60 to USD 1500.90 an ounce, a lowest given May 19. In dual days, a steel slumped 3.4 per cent, a many given May 5.

    Silver also declined by 1% to USD 34.65 an ounce. On a domestic front, bullion of 99.9% and 99.5% virginity plunged by Rs 220 any to Rs 22,370 and Rs 22,250 per 10 grams, respectively. Sovereign followed fit and mislaid Rs 50 to Rs 18,650 per square of 8 gram.

    In line with a ubiquitous weakening trend, china prepared remained underneath offered vigour and forsaken by Rs 750 to Rs 52,550 per kg. Similarly, weekly-based smoothness plunged by Rs 815 to Rs 51,845 per kg.

    Silver coins plunged by Rs 1,000 to Rs 58,000 for shopping and Rs 59,000 for offered of 100 pieces. Coins mislaid Rs 4,000 in a final dual sessions.


    Incoming search terms for the article:

    ]]>     http://fridaymarket.org/2012/02/gold-silver-skid-on-weak-global-cues-sluggish-demand/feed/ 0     Gold Imports by India Seen Dropping From Record to Make China Top Consumer http://fridaymarket.org/2012/02/gold-imports-by-india-seen-dropping-from-record-to-make-china-top-consumer/ http://fridaymarket.org/2012/02/gold-imports-by-india-seen-dropping-from-record-to-make-china-top-consumer/#comments Tue, 21 Feb 2012 16:07:50 +0000 admin http://fridaymarket.org/2012/02/gold-imports-by-india-seen-dropping-from-record-to-make-china-top-consumer/
    Enlarge image
    Gold Imports by India Seen Declining From Record

    Gold Imports by India Seen Declining From Record

    Gold Imports by India Seen Declining From Record

    Kuni Takahashi/Bloomberg

    In India, bullion is traditionally bought during festival seasons and for marriages as partial of a spousal trousseau.

    In India, bullion is traditionally bought during festival seasons and for marriages as partial of a spousal trousseau. Photographer: Kuni Takahashi/Bloomberg

    Europe Debt Crisis, Emerging Markets, Gold

    Feb. 21 (Bloomberg) — Peter Sorrentino, a comparison account manager during Huntington Asset Advisors in Cincinnati, talks about opportunities in rising markets, a opinion for bullion and his investment strategy.
    Sorrentino also discusses Greece’s debt crisis. He speaks with John Dawson on Bloomberg Television’s “First Up.” (Source: Bloomberg)

    Gold imports by India (INMOGOLD) are staid to
    decline for a initial time in 3 years as rising prices deter
    jewelry buyers and investors, potentially permitting China to
    overtake a nation as a world’s largest consumer.

    Purchases might dump 7 percent to 900 metric tons this year,
    according to a median guess in a Bloomberg News consult of
    eight analysts, brokers and jewelers including Rajesh Exports
    Ltd. (RJEX)    , a biggest gold-jewelry exporter. India bought a record
    969 tons in 2011, according to a World Gold Council.

    Bullion is climbing for a 12th year as investors find a
    store of resources amid sensitivity in batch markets, depreciating
    currencies and a hazard of inflation. China’s expenditure may
    surpass India this year after surging 20 percent to 769.8 tons
    in 2011, a legislature says. Use in India fell 7 percent to 933.4
    tons final year as a banking slumped to a record low, cooling
    purchases for festivals and marriages.

    “With a prices of bullion going up, zero fits into the
    budget of a customer,” Ramesh Pahlajani, partner during Mumbai-
    based Bherumal Shamandas Jewellers, pronounced in an interview.
    “Demand for bullion has been utterly subdued.”

    Imports plunged 44 percent in a fourth entertain to 157
    tons as valuables and investment direct declined, a legislature said
    on Feb. 16. Bullion futures in India rallied 32 percent last
    year, surpassing a 10 percent allege in tellurian prices.

    Bridal Trousseau

    In India, bullion is traditionally bought during a festival
    season and for weddings as partial of a spousal trousseau. The
    number of days this year deliberate to be portentous for
    marriages will be a fewest given 2004, potentially trimming
    demand, Ajay Mitra, handling director, Middle East and India at
    the council, pronounced on Feb. 16.

    “The volume of bullion we buy has been reduced and we have to
    budget a expenses,” pronounced Khushboo Jain, 24, while selling in
    Zaveri Bazaar, Mumbai’s categorical valuables market, forward of her April
    wedding. “I am shopping for my matrimony and in a destiny it will
    be an investment for me in times of financial crisis.”

    Gold for evident smoothness climbed 0.4 percent to
    $1,742.02 an unit during 2:46 p.m. in Mumbai today. The metal
    reached a record $1,921.15 an unit in September.

    “Gold is still something that each domicile believes in
    owning,” pronounced S. Subramaniam, arch financial officer during Titan
    Industries Ltd. (TTAN)    , India’s biggest tradesman of bullion jewelry.
    “Gold is not only about an attire or adornment, it’s about
    investment as well.”

    Gold land in exchange-traded products were 2,388.683
    tons on Feb. 17, nearby a record 2,392.976 tons reached Dec. 13,
    according to information tracked by Bloomberg. In India, investors held
    a record 96.14 billion rupees in supports corroborated by bullion as of Jan.
    31, according to a Association of Mutual Funds in India data.

    “Demand in India has been delayed as losses have been
    rising since of inflation,” Rakesh Jain, owners of Mohanlal
    Otarmal Jewellers in Mumbai, pronounced in an talk during his store
    in Zaveri Bazaar. “People do not have most assets to spend on
    gold. The shopping ability of people has left down.”

    To hit a reporters on this story:
    Madelene Pearson in Melbourne at
    mpearson1@bloomberg.net;
    Swansy Afonso in Mumbai at
    safonso2@bloomberg.net

    To hit a editor obliged for this story:
    James Poole at
    jpoole4@bloomberg.net

    Incoming search terms for the article:

    ]]>     http://fridaymarket.org/2012/02/gold-imports-by-india-seen-dropping-from-record-to-make-china-top-consumer/feed/ 0     Gold Climbs Along With Euro on Hopes for Greek Deal http://fridaymarket.org/2012/02/gold-climbs-along-with-euro-on-hopes-for-greek-deal/ http://fridaymarket.org/2012/02/gold-climbs-along-with-euro-on-hopes-for-greek-deal/#comments Tue, 21 Feb 2012 16:07:10 +0000 admin http://fridaymarket.org/2012/02/gold-climbs-along-with-euro-on-hopes-for-greek-deal/

    Gold prices rose some-more than half a percent on Monday as flourishing confidence that European leaders will pointer off on a rescue understanding for Greece carried a euro, and after China’s executive bank serve loosened financial policy.

    Spot gold [ XAU= 1733.60  +10.41 (+0.60%) ] was adult 0.4 percent during $1,730.80 an unit progressing Monday, while U.S. bullion [ GCCV1 1735.30  +9.40 (+0.54%) ] futures for Feb smoothness were adult $6.70 an unit during $1,732.60.

    Gold prices are adult 10.8 percent so distant this year, benefiting from a miscarry in a euro and expectations that U.S. financial process will sojourn loose, slicing a event cost of holding non-yielding bullion.

    But analysts contend a interest of other investments could keep bullion prices rangebound this year.

    “The risks (in Europe) could waste modestly in a nearby term.

    Certainly, in China, there is a flourishing acceptance that a supervision will step in to support growth, and things demeanour like they’re stronger than approaching in a United States,” pronounced Deutsche Bank researcher Daniel Brebner “Globally, it looks like risk resources are being amassed by investors, and in that kind of environment, bullion should perform flattering well,” he added.

    “But we would disagree it could underperform some of a other metals, a bottom metals and a white changed metals.” The euro rose 0.4 percent on Monday after China eased financial policy to kindle expansion and expectations mounted that euro section policymakers were set to approve Greece’s long-awaited second bailout, averting a disorderly default.

    Euro section financial ministers are approaching to approve a second understanding for Greece when they accommodate during 1600 GMT, a pierce they wish will pull a line underneath months of misunderstanding that has jarred a banking bloc.

    “The market’s courtesy is to sojourn fixated on developments in a euro section as financial ministers accumulate in Brussels to finalise a sum of a second bailout for Greece,” pronounced VTB Capital in a note.

    “We see resigned movement now as a certain preference on Greece is flattering most labelled in.” Other resources seen as aloft risk rallied along with a euro, with European equities reaching their tip in scarcely 7 months and oil prices adult some-more than $1 a barrel.

    Safe-haven German supervision holds slipped.

    Money Managers Cut Gold Length

    Money managers in bullion futures and options reduced their net prolonged position by about 6 percent in a week of Feb.

    14, their initial decrease in weeks, latest information from a U.S. Commodity Futures Trading Commission showed on Friday.

    “The decrease in net suppositional length affirms a perspective that a assertive moves during a finish of Jan were mostly as a outcome of overexcitement after a Fed’s dovish proclamation (that rates will stay low),” pronounced Standard Bank in a note.

    “Consequently, we sojourn discreet of gold’s near-term prospects, and would not be astounded to see serve debility emerge this week.” Holdings of gold-backed exchange-traded supports tracked by Reuters duration rose by 115,730 ounces final week, a sixth uninterrupted week of gains, to 70.3 million ounces.

    In China, that is now severe India for a pretension of world’s tip bullion consumer, a Shanghai Gold Exchange pronounced it will cut trade fees for several of a changed metals contracts to revoke transaction costs, as it sought to keep a fees opposition after a opposition bourse cut margins final week.

    Among other changed metals, china [ XAG= 33.51  +0.29 (+0.87%) ] was adult 0.5 percent during $33.40 an ounce, while mark platinum [ XPT= 1646.99  +16.89 (+1.04%) ] was adult 0.7 percent during $1,642 an unit and mark palladium [ XPD= 693.47  -1.53 (-0.22%) ] was down 0.9 percent during $688.70 an ounce.

    Platinum prices have climbed scarcely 18 percent this year, benefiting from supply concerns in vital writer South Africa.

    The South African miners’ kinship pronounced on Saturday Impala Platinum, a world’s second-largest gold producer, has concluded to re-instate all 17,200 workers who were discharged following an bootleg strike.

    The platinum/palladium ratio, or series of palladium ounces indispensable to buy an unit of platinum, hold nearby a 2012 high of 2.4 on Monday as gold continued to outperform.



    Decision Day for Greek Bailout; Financing Gaps Remain



    Switch to Risk-Neutral Position on Euro: Strategist



    TNT Shares 50% Up; Investors Want Higher Offer



    Recession Looms as Growth Slows in Developed Countries



    BRICs No Safe Haven From Western Doom: Study


    More Top Stories

    Incoming search terms for the article:

    ]]>     http://fridaymarket.org/2012/02/gold-climbs-along-with-euro-on-hopes-for-greek-deal/feed/ 0     Gold Bulls Expand as Billionaire Paulson Says Buy: Commodities http://fridaymarket.org/2012/02/gold-bulls-expand-as-billionaire-paulson-says-buy-commodities/ http://fridaymarket.org/2012/02/gold-bulls-expand-as-billionaire-paulson-says-buy-commodities/#comments Tue, 21 Feb 2012 16:05:47 +0000 admin http://fridaymarket.org/2012/02/gold-bulls-expand-as-billionaire-paulson-says-buy-commodities/ February 19, 2012, 6:49 AM EST

    By Nicholas Larkin

    (For some-more commodity columns, click CMMKT.)

    Feb. 17 (Bloomberg) — Gold traders are removing some-more bullish after billionaire hedge-fund manager John Paulson told investors it’s time to buy a steel as insurance opposite acceleration caused by supervision spending.

    Twelve of 22 surveyed by Bloomberg design prices to benefit subsequent week and 5 were neutral. Paulson Co. is already a biggest financier in a SPDR Gold Trust, a largest exchange- traded product corroborated by bullion, with a seductiveness valued during $2.9 billion, a Securities and Exchange Commission filing Feb. 14 showed. Investors have 2,389.7 metric tons in ETPs, within 0.2 percent of a record reached in Dec and some-more than all though 4 executive banks, according to information gathered by Bloomberg.

    Speculators in U.S. bullion futures are now their many bullish given Sep after a Bank of England and Bank of Japan pronounced they will buy some-more resources and a Federal Reserve pronounced it was deliberation purchasing some-more bonds. Central banks are also expanding their bullion reserves, adding 439.7 tons final year, a many in roughly 5 decades. They might buy a identical volume in 2012, a London-based World Gold Council pronounced yesterday.

    “The abominable state of mercantile finances of many industrial nations does lead to concerns about a probability of inflation,” pronounced Mark O’Byrne, executive executive of Dublin- formed GoldCore Ltd., a brokerage that sells all from quarter-ounce British Sovereigns to 400-ounce bars. “Gold is a essential diversification given a several risks out there.”

    Bank of America

    Gold rose 9.9 percent to $1,722.20 an unit this year on a Comex in New York. The Standard Poor’s GSCI sign of 24 line gained 6.6 percent and MSCI All-Country World Index of equities climbed 9.7 percent. Treasuries mislaid 0.5 percent, a Bank of America Corp. index shows.

    Hedge supports and other income managers increased wagers on aloft prices by 57 percent given mid-January. They lifted their net-long position by 8.6 percent to 173,172 futures and options in a week finished Feb. 7, a tip turn given mid-September, Commodity Futures Trading Commission information show.

    Central banks are gripping seductiveness rates during or nearby record lows and expanding impulse measures to coax expansion that a International Monetary Fund likely on Jan. 24 will be 3.3 percent this year, down from a prior foresee of 4 percent. Greece is seeking some-more assist on tip of a 110 billion euros ($145 billion) awarded in 2010 and Moody’s Investors Service cut a ratings of 6 European nations on Feb. 13.

    ‘Build a Position’

    “By a time acceleration becomes evident, bullion will substantially have moved, that implies that now is a time to build a position in gold,” New-York formed Paulson pronounced in a minute to investors performed by Bloomberg. Armel Leslie, a orator for Paulson, declined to comment.

    The 56-year-old manager’s SPDR Gold Trust land fell 15 percent in a fourth entertain as his $23 billion sidestep account association had a worst-ever year. His Advantage Plus Fund mislaid 51 percent in 2011, and a organisation pronounced in a third-quarter minute that financial services companies were a “primary drag.” Paulson became a billionaire in 2007 by betting opposite a U.S. subprime debt market. Gold rose 10 percent final year in New York trading, an 11th uninterrupted annual gain.

    Europe’s deepening debt predicament might coax some investors to shelter to cash. Bullion forsaken 3.4 percent in a 3 months by December, a initial quarterly decrease given 2008, as a value of tellurian equities slumped some-more than $10 trillion from a May peak, information gathered by Bloomberg show.

    Debt Crisis

    “Despite a clever start to tellurian markets this year, a underlying view is still one of fear,” pronounced Chris Weafer, a arch strategist during Troika Dialog, an investment bank in Moscow. “Until a euro section debt predicament is put to bed, all assets, even gold, are in a risk category.”

    Investors should equivocate bullion given a uses are singular and it lacks a intensity of farmland or companies to furnish new wealth, Warren Buffett, a billionaire authority of Berkshire Hathaway Inc., wrote in an instrumentation of his annual minute to shareholders that seemed on Fortune magazine’s website on Feb. 9.

    Vinik Asset Management LP, Tudor Investment Corp. and SAC Capital Advisors LP sole shares in a SPDR Gold Trust in a fourth quarter, filings showed this week. George Soros, a billionaire owner of Soros Fund Management LLC, lifted his seductiveness to 85,450 shares from 48,350.

    Record investment gathering bullion direct to 4,067.1 tons final year, a many given 1997, a World Gold Council estimates.

    Nine of 24 traders and analysts surveyed by Bloomberg design copper to stand subsequent week and 7 were neutral. The steel for smoothness in 3 months, a London Metal Exchange’s benchmark contract, rose 7.4 percent to $8,161.50 a ton this year after disappearing 21 percent final year.

    ICE Futures

    Ten of 14 people surveyed design raw-sugar prices to dump subsequent week. The commodity is adult 1.8 percent this year during 23.72 cents a bruise on ICE Futures U.S. in New York.

    Eleven of 21 people surveyed expect reduce corn prices subsequent week, while 12 of 22 pronounced soybeans will advance. Corn fell 0.3 percent to $6.4475 a load this year as soybeans rose 5.7 percent to $12.77 a bushel.

    “By initiating serve rounds of quantitative easing, executive banks should be one of a ancillary factors for commodity prices,” pronounced Daniel Briesemann, an researcher during Commerzbank AG in Frankfurt. “The high doubt and flourishing risk hatred among marketplace players surrounding a Greek debt tale should subdue any suggestive cost increases.”

    –With assistance from Maria Kolesnikova, Agnieszka Troszkiewicz, Isis Almeida and Tony C. Dreibus in London, Jae Hur and Yasumasa Song in Tokyo, Glenys Sim and Luzi Ann Javier in Singapore, Helen Sun in Shanghai, Yi Tian and Saijel Kishan in New York and Jeff Wilson in Chicago. Editors: Stuart Wallace, Claudia Carpenter

    To hit a contributor on this story: Nicholas Larkin in London during nlarkin1@bloomberg.net.

    To hit a editor obliged for this story: Claudia Carpenter during ccarpenter2@bloomberg.net.

    Incoming search terms for the article:

    ]]>     http://fridaymarket.org/2012/02/gold-bulls-expand-as-billionaire-paulson-says-buy-commodities/feed/ 0