Browsing Tag
gold
10 posts
Gold rebounds from week low as dollar slips
NEW YORK/LONDON: Gold rose on Thursday as a drop in the dollar triggered bargain hunting after the previous session's sharp drop on news of possible gold sale by Cyprus and uncertainty over Fed's monetary stimulus.An improving US economic outlook and rallies in the equities market, however, could pressure bullion prices in the near term, analysts said.The metal was boosted by currency fluctuations as the dollar fell against the euro but rose to a four-year high against the yen. Gold has benefited from the Bank of Japan's pledge last week to inject around $1.4 trillion into its economy to battle deflation.Bullion's gains came as the S P 500 index climbed to fresh all-time intraday highs after US data showed jobless claims dropped more than expected.Gold has recently moved in opposite directions to US equities and an overall improvement in US economic indicators has hurt bullion's safe-haven appeal.”Regardless of Fed policy, there are many more attractive assets to profit on than gold right now. It looks like the trade right now is buy S P and sell gold,” said Mihir Dange, COMEX gold options floor trader for Arbitrage LLC.Spot gold rose 0.4 percent to $1,564.10 an ounce by 2:26 PM (1826 GMT),…
China needs caution in driving gold reserves
According to data on every country’s gold reserves recently issued by World Gold Council (WGC), the United States’ gold reserves are 8,133.5 tons, accounting for 26.49 percent of the world’s total, and the United States is still the largest gold reserve country. China’s gold reserves are a little more than 1,054 tons, ranking sixth in the world.
Nova Scotia confident on silver futures in Thailand
Leading silver market maker confident on silver futures in Thailand The Nova Scotia Group, one of the world’s leading gold and silver market makers, is confident on the prospects of silver futures in Thailand, one of their specialists in this instrument noted.
As Emerging Market Risk Increases, Thailand Continues Its Growth Story
Fund managers have cautioned investors to look long term, since they know from experience that political turmoil has a way of working itself out. These same managers point to Thailand as a perfect example that confirms the wisdom of their advice.
