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Reuters.Com 11 Mar 2014: World stocks flat, oil and gold edge up on Ukraine, China

41 days ago March 11th, 2014

Both gold and crude oil extended early gains as Ukraine strengthened the bid in both markets and kept them near intraday highs.

Brent crude, Europe’s regional benchmark, gained 49 cents to $108.57 a barrel, while gains for U.S. oil were more measured, ahead 28 cents. Both reversed a slight weakness during the Asian day.

Gold, meanwhile, was at $1,349 an ounce. In a sign of the recent jump in demand, the world’s biggest bullion-backed exchange-traded fund saw its largest inflow in a month on Monday.

“Gold continues to be largely supported above $1,329, and while prices are unlikely to break above $1,361.60 in the absence of war, underlying support from the Ukrainian crisis … is likely to keep prices elevated above $1,320 for an extended time,” said Joyce Liu, an analyst at Phillip Futures.

http://www.reuters.com/article/2014/03/11/us-markets-global-idUSBRE96S00E20140311


Gata.Org 11 Mar 2014: New Ukraine regime blames predecessor for stealing gold and everything else

41 days ago March 11th, 2014

FBI and U.S. Treasury agents have arrived in Kiev to aid Ukraine’s interim leaders to uncover the financial crimes of the government of ousted President Viktor Yanukovych in an effort to repatriate billions of dollars.

Ukraine’s new government is determined to recover some of the billions of dollars it says went missing during Yanukovych’s regime.

And Washington is eager to assist.

“We are very interested in working with the government to support its investigations of those financial crimes, and we have already, on the ground here in Ukraine, experts from the FBI, the Department of Justice, and the Department of Treasury who are working with their Ukrainian counterparts to support the Ukrainian investigation,” U.S. Ambassador to Ukraine Geoffrey Pyatt told reporters here on Monday.

According to Ukrainian officials more than $20 billion of gold reserves may have been embezzled and $37 billion in loans has disappeared. In the past three years more than $70 billion was moved to offshore accounts from Ukraine’s financial system.

http://gata.org/node/13758


Zerohedge.Com 11 Mar 2014: Silver Spikes Most In A Month As Gold Tops $1350

41 days ago March 11th, 2014

Silver is spiking this morning (up over 2.3%) by its most in almost a month as the losses suffered post-Putin’s press-conference are now largely retraced. Gold has broken back above pre-Putin levels and is trading back above $1,350 (holding above its 1-year average). Bonds, stocks, and the USD are all relatively flat this morning leaving one wondering whether the catalyst for this move is related to the Ukraine-gold rumors although we noted Swiss 2Y rates dropping once again as safe-havens are bid.

http://www.zerohedge.com/news/2014-03-11/silver-spikes-most-month-gold-tops-1350


CNBC.Com 11 Mar 2014: Gold boosted by safe-haven demand; China, Ukraine support

41 days ago March 11th, 2014

Gold was steady near $1,340 an ounce on Tuesday as fears of an economic slowdown in China and Ukraine’s geopolitical crisis keep investors seeking safe-haven bullion.

In a sign of investor confidence in the precious metal amid global uncertainties, the world’s biggest bullion-backed exchange-traded fund saw its largest inflow in a month on Monday.

http://www.cnbc.com/id/101482110


Reuters.Com 10 Feb 2014: Gold rises on growth fears, focus on Fed’s Yellen testimony

70 days ago February 10th, 2014

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. lawmakers hoping for reassurance that policy will stay loose for a long time to come.

“From a macro data perspective Yellen’s testimony is the main event because it’s her first big official speech,” Standard Bank analyst Walter de Wet said.

Yellen will address the House Financial Services Committee on Tuesday and the Senate Banking Committee on Thursday.

http://www.reuters.com/article/2014/02/10/markets-precious-idUSL3N0LF31J20140210

 


CNBC.Com 5 Feb 2014 Gold firms in narrow range ahead of U.S. jobs data

75 days ago February 5th, 2014

Gold firmed on Wednesday as some investors bought back into bullion-backed funds, but uncertainly ahead of U.S.jobs data and a lack of Asian demand during the Lunar New Year break kept the metal in its tightest range in six weeks.

Concerns about the fragility of stock markets after a recent heavy sell-off has piqued some investment interest in gold, with the world’s largest bullion-backed exchange-traded fund, the SPDR Gold Trust, reporting a 3.9-tonne inflow on Tuesday.

http://www.cnbc.com/id/101390222


Reuters.Com 4 Feb 2014: Gold holds gains on US growth fears, dip in equities

76 days ago February 4th, 2014
Gold held on to sharp overnight
gains on Tuesday as Asian equities slumped and investors worried
over U.S. economic growth after disappointing manufacturing
data.
    Asian shares tumbled with Nikkei falling 3 percent, after
Wall Street suffered its worst drop since June and as markets
continued to fret over an emerging market rout.
http://www.reuters.com/article/2014/02/04/markets-precious-idUSL3N0L90A420140204

BBC.Com: Why do we value gold?

76 days ago February 4th, 2014

Mankind’s attitude to gold is bizarre. Chemically, it is uninteresting – it barely reacts with any other element. Yet, of all the 118 elements in the periodic table, gold is the one we humans have always tended to choose to use as currency. Why?

Why not osmium or chromium, or helium, say – or maybe seaborgium?

I’m not the first to ask the question, but I like to think I’m asking it in one of the most compelling locations possible – the extraordinary exhibition of pre-Columbian gold artefacts at the British Museum?

That’s where I meet Andrea Sella, a professor of chemistry at University College London, beside an exquisite breastplate of pure beaten gold.

http://www.bbc.co.uk/news/magazine-25255957


CNBC.Com 4 Feb 2014: Gold pares gains; but US growth fears stay on boil

76 days ago February 4th, 2014

Gold pared sharp overnight gains on Tuesday, as U.S. equity futures pointed to a higher open, even as investors worried over U.S. economic growth after disappointing manufacturing data.

Asian shares tumbled with Nikkei falling 3 percent, after Wall Street suffered its worst drop since June and as markets continued to fret over an emerging market rout. Yet stock futures turned higher before the opening bell, leading gold to lose altitude.

http://www.cnbc.com/id/101386508

 


CNBC.Com 17 Jan 2014: Gold poised to snap 3-week rally on economic outlook

94 days ago January 17th, 2014

Gold was holding steady on Friday but was headed for its first weekly drop in four weeks as a string of U.S. data showed more strength in the recovery of the world’s largest economy, dimming the metal’s safe-haven appeal.

Markets fear that an economic recovery could prompt the U.S. Federal Reserve to continue or increase the pace of tapering its bullion-friendly monetary stimulus.

http://www.cnbc.com/id/101343756