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Reuters.Com 5 May 2014: Gold industry shifts east as Dubai plans huge refinery, spot contract

1025 days ago May 5th, 2014

DUBAI, May 5 (Reuters) – In the desert on the outskirts of Dubai, one of the world’s biggest gold refineries is under construction. When completed next year, it will help to alter the balance of power in the global gold industry.

CNBC.Com 5 May 2014: Gold hits 3-week high on Ukraine tensions, soft dollar

1025 days ago May 5th, 2014

Gold prices hit three-week highs on Monday in thin trade, extending the previous session’s gains, as simmering tensions in Ukraine and a break above a key chart level fueled buying.

Dealers remained cautious on whether the gains can be sustained, however, as several markets were closed and as outflows from the top physical gold exchange-traded fund continued to indicate bearish sentiment.

World Gold Council: 15 Apr 2014: China’s gold market: progress and prospects

1025 days ago May 5th, 2014

A major report published by the World Gold Council “China’s gold market: progress and prospects” suggests that private sector demand for gold in China is set to increase 20% from the current level of 1,132 tonnes(t) per year to at least 1,350t by 20171. Following the record level of Chinese demand in 2013, which saw the country become the world’s largest gold market, the report suggests that while 2014 is likely to see consolidation, the succeeding years are likely to see sustained growth.


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

1080 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.

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

1080 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.

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

1080 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.

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

1080 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.

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

1109 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.


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

1114 days ago February 5th, 2014

Gold firmed on Wednesday as some investors bought back into bullion-backed funds, but uncertainly ahead of 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.

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

1115 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
    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.