Latest Post
Tampilkan postingan dengan label gold prices. Tampilkan semua postingan
Tampilkan postingan dengan label gold prices. Tampilkan semua postingan
Gold Prices High as ECB Keep Interest Rate
Written By mine on Rabu, 06 Juni 2012 | 18.24
Gold prices hit a one-month high on COMEX as the euro held on to its early gains against the dollar after the European Central Bank (ECB) kept interest rates unchanged, and as other assets seen as higher risk, such as stocks and commodities, rallied.
As of 12:04 a.m. EDT, August gold was $23.60, or 1.5%, stronger at $1,640.50. July silver was up $1.325, or 4.7%, to $29.73 an ounce. August gold hit a high of $1,642.40 that was its strongest level since May 7, while July silver hit a $29.815 high that was its most muscular level since May 8.
The yellow metal is building on a rally sparked on Friday by weak US payrolls data, which reignited talk of a fresh round of monetary easing from the Federal Reserve. That helped it rebound from the 2012 low it hit in May during four months of losses.
According to Frank Lesh, analyst with FuturePath Trading, “Risk is back on. Markets have been bolstered by ideas that the Federal Reserve and European Central Bank may undertake further accommodative policies. Light buy stops may have been elected in August gold as it moved up through last week’s $1,632 an ounce high.”
He puts chart resistance for August gold in the $1,650s, then the 100-day moving average around $1,670. He lists resistance for July silver from $30 to $30.40.
As of 12:04 a.m. EDT, August gold was $23.60, or 1.5%, stronger at $1,640.50. July silver was up $1.325, or 4.7%, to $29.73 an ounce. August gold hit a high of $1,642.40 that was its strongest level since May 7, while July silver hit a $29.815 high that was its most muscular level since May 8.
The yellow metal is building on a rally sparked on Friday by weak US payrolls data, which reignited talk of a fresh round of monetary easing from the Federal Reserve. That helped it rebound from the 2012 low it hit in May during four months of losses.
According to Frank Lesh, analyst with FuturePath Trading, “Risk is back on. Markets have been bolstered by ideas that the Federal Reserve and European Central Bank may undertake further accommodative policies. Light buy stops may have been elected in August gold as it moved up through last week’s $1,632 an ounce high.”
He puts chart resistance for August gold in the $1,650s, then the 100-day moving average around $1,670. He lists resistance for July silver from $30 to $30.40.
Gold ETF give Investors Exposure to Underlying Asset Prices
Written By mine on Jumat, 23 Desember 2011 | 11.08
Gold is having to compete for attention with other assets, which after years of volatility are looking more attractive. ETFs issue securities backed with physical metal, giving investors exposure to the underlying asset price without having to buy, store and insure it. They proved a popular way to invest in gold after the credit crisis lifted interest in physical metal as a haven from risk.
Gold is money and money is cash, so owning the ETF allowed people a way of being in quasi-cash. The default option was gold, but now value has been exposed in many other asset classes. The inflows into gold-backed exchange-traded funds that helped drive bullion demand sharply higher during the financial crisis have more than halved this year, according to Reuters data, and are unlikely to recover in 2012 as appetite grows for other assets.
Gold prices have been moving so violently that its safe-haven, store-of-wealth status has been dented somewhat. Sales of products such as physical bars and coins are likely to firmly underpin gold demand, but while heavy ETF selling is unlikely while physical gold is still seen as a good store of wealth, analysts say fresh buying is likely to be sluggish.
"Investor interest seems to be maturing, so you're not seeing such strong flows into the physically backed ETF. We're seeing more interest materialising now into, say, allocated bars," said Barclays Capital analyst Suki Cooper.
This year, inflows have been directed more to smaller products, chiefly in Europe, whose holdings have grown. The largest U.S.-based SPDR fund in on track for a net annual outflow, currently 413,000 ounces.
Holdings of Swiss & Global Asset Management's JB Physical Gold Fund have risen 661,000 ounces; Zurich Kantonalbank's ZKB Physical Gold fund is up 1.1 million ounces; and ETF Securities' ETFS Physical Gold is up 192,000 ounces.
"It's interesting that we've seen this divergence in flows," says Cooper. "Whereas in the past, they've been driven by interest in the United States, this year the strong flows have materialised in Europe, which isn't that surprising given everything going on (with the euro zone debt crisis)."
A smaller U.S.-based product, the iShares Gold Trust, has seen a 1.8 million ounce increase in its holdings this year.
Asset managers at the Reuters 2012 Investment Outlook Summit earlier this month predicted a stock market recovery next year, saying this year's euro zone crisis had put equity valuations in compelling territory.
"In 2012 one of the headwinds for the ETFs will be rotation back into gold equities and other asset classes if they look attractive," said RBS Global Banking & Markets analyst Nick Moore.
At the same time, gold's volatility this year, which has seen it trade in an unprecedented $500 range, has hurt its safe-haven appeal. A UBS official said in a letter this month that gold no longer offered a haven from the euro zone debt crisis.
But while inflows have slackened, ETFs have not seen the significant liquidation that, at the time of their launch, some analysts had feared could threaten market stability.
The SPDR fund, launched in 2004, is one of the world's largest bullion holders, with more gold in its vaults than the central banks of Switzerland, Russia and Japan.
Analysts say speculative investors who bought ETFs in anticipation of higher metal prices are now already likely to have sold them. Their overall 'stickiness', even when prices were falling, suggests most bought for portfolio diversification and as a long-term store of value rather than profit.
Gold is money and money is cash, so owning the ETF allowed people a way of being in quasi-cash. The default option was gold, but now value has been exposed in many other asset classes. The inflows into gold-backed exchange-traded funds that helped drive bullion demand sharply higher during the financial crisis have more than halved this year, according to Reuters data, and are unlikely to recover in 2012 as appetite grows for other assets.
Gold prices have been moving so violently that its safe-haven, store-of-wealth status has been dented somewhat. Sales of products such as physical bars and coins are likely to firmly underpin gold demand, but while heavy ETF selling is unlikely while physical gold is still seen as a good store of wealth, analysts say fresh buying is likely to be sluggish.
"Investor interest seems to be maturing, so you're not seeing such strong flows into the physically backed ETF. We're seeing more interest materialising now into, say, allocated bars," said Barclays Capital analyst Suki Cooper.
This year, inflows have been directed more to smaller products, chiefly in Europe, whose holdings have grown. The largest U.S.-based SPDR fund in on track for a net annual outflow, currently 413,000 ounces.
Holdings of Swiss & Global Asset Management's JB Physical Gold Fund have risen 661,000 ounces; Zurich Kantonalbank's ZKB Physical Gold fund is up 1.1 million ounces; and ETF Securities' ETFS Physical Gold is up 192,000 ounces.
"It's interesting that we've seen this divergence in flows," says Cooper. "Whereas in the past, they've been driven by interest in the United States, this year the strong flows have materialised in Europe, which isn't that surprising given everything going on (with the euro zone debt crisis)."
A smaller U.S.-based product, the iShares Gold Trust, has seen a 1.8 million ounce increase in its holdings this year.
Asset managers at the Reuters 2012 Investment Outlook Summit earlier this month predicted a stock market recovery next year, saying this year's euro zone crisis had put equity valuations in compelling territory.
"In 2012 one of the headwinds for the ETFs will be rotation back into gold equities and other asset classes if they look attractive," said RBS Global Banking & Markets analyst Nick Moore.
At the same time, gold's volatility this year, which has seen it trade in an unprecedented $500 range, has hurt its safe-haven appeal. A UBS official said in a letter this month that gold no longer offered a haven from the euro zone debt crisis.
But while inflows have slackened, ETFs have not seen the significant liquidation that, at the time of their launch, some analysts had feared could threaten market stability.
The SPDR fund, launched in 2004, is one of the world's largest bullion holders, with more gold in its vaults than the central banks of Switzerland, Russia and Japan.
Analysts say speculative investors who bought ETFs in anticipation of higher metal prices are now already likely to have sold them. Their overall 'stickiness', even when prices were falling, suggests most bought for portfolio diversification and as a long-term store of value rather than profit.
Gold Bullion Market, Futures Gold Prices per Ounce
Written By mine on Selasa, 08 November 2011 | 06.31
Bullion gold is in the 11th year of a bull market and futures gold prices reached a record $1,923.70 an ounce on Sept. 6 as investors sought to diversify away from equities and some currencies. The metal is up 26 percent this year. Gold may gain for a second day in New York as concerns about Europe?s debt crisis spur demand for the metal as a protection of wealth.
Italian Prime Minister Silvio Berlusconi faces a budget vote amid pressure to quit and a surge in borrowing costs, stoking concern the region?s debt crisis is spreading. Gold yesterday reached the highest level in more than six weeks and holdings in exchange-traded products backed by bullion rose by the most since August.
?Italy is set to dominate the headlines this week, with gold likely holding up amid ongoing uncertainty,? Andrey Kryuchenkov, an analyst at VTB Capital in London, wrote today in a report. ?We doubt the euro?s credibility could be restored overnight, but even given an immediate improvement to risk, it is doubtful bullion would take heavy sustained losses.?
Gold for December delivery rose $1.40, or 0.1 percent, to $1,792.50 an ounce by 8:01 a.m. on the Comex in New York. Prices reached $1,799.90 yesterday, the highest since Sept. 21. Immediate-delivery gold was 0.2 percent lower at $1,791.25 in London.
Berlusconi must show today that he has enough support in parliament to stay in power and implement austerity measures to trim the region?s second-biggest debt and bring down borrowing costs. The yield on 10-year Italian bonds climbed to a euro-era record today.
?Fundamentals are stronger than before with Italy on the brink of default and the EU crisis more complicated than before,? Pradeep Unni, an analyst at Richcomm Global Services in Dubai, said in a report to investors. ?Retracements and corrections are possible as we climb above $1,800, but stay invested.?
Gold-backed ETP holdings gained 13.3 metric tons yesterday, the most since Aug. 18, to 2,297.9 tons, data compiled by Bloomberg show. That?s the highest level since Aug. 23.
Italian Prime Minister Silvio Berlusconi faces a budget vote amid pressure to quit and a surge in borrowing costs, stoking concern the region?s debt crisis is spreading. Gold yesterday reached the highest level in more than six weeks and holdings in exchange-traded products backed by bullion rose by the most since August.
?Italy is set to dominate the headlines this week, with gold likely holding up amid ongoing uncertainty,? Andrey Kryuchenkov, an analyst at VTB Capital in London, wrote today in a report. ?We doubt the euro?s credibility could be restored overnight, but even given an immediate improvement to risk, it is doubtful bullion would take heavy sustained losses.?
Gold for December delivery rose $1.40, or 0.1 percent, to $1,792.50 an ounce by 8:01 a.m. on the Comex in New York. Prices reached $1,799.90 yesterday, the highest since Sept. 21. Immediate-delivery gold was 0.2 percent lower at $1,791.25 in London.
Berlusconi must show today that he has enough support in parliament to stay in power and implement austerity measures to trim the region?s second-biggest debt and bring down borrowing costs. The yield on 10-year Italian bonds climbed to a euro-era record today.
?Fundamentals are stronger than before with Italy on the brink of default and the EU crisis more complicated than before,? Pradeep Unni, an analyst at Richcomm Global Services in Dubai, said in a report to investors. ?Retracements and corrections are possible as we climb above $1,800, but stay invested.?
Gold-backed ETP holdings gained 13.3 metric tons yesterday, the most since Aug. 18, to 2,297.9 tons, data compiled by Bloomberg show. That?s the highest level since Aug. 23.
Commodity exclusives Gold Price Gain, Agriculture Emerging Market Demand
Written By mine on Minggu, 17 April 2011 | 00.31
Gold Rebounds From One-Week Low on Japan, Libya, Inflation, gold gained from a one-week low in London as Japan?s nuclear crisis, the conflict in Libya, concerns about rising inflation and a weaker dollar spurred demand for an alternative investment.
Australia Tops Global Stock Gains Since 1900: Chart of the Day, Australia, the best performing equity market across the last 111 years, will probably come more into line with global peers because emerging market demand for its abundant raw materials may already have been priced in.
Economic events, agriculture reports:
Forecast Prior Time
(N.Y.)
Advance Retail Sales MAR 0.5% 1.0% 8:30
Retail Sales Less Autos MAR 0.7% 0.7% 8:30
Retail Sales Ex Auto&Gas MAR 0.5% 0.6% 8:30
Business Inventories FEB 0.8% 0.9% 10:00
JOLTS Job Openings FEB 2760 10:00
FED?s Beige Book 14:00
USDA Broiler Eggs Set APR 8 207796 15:00
METAL PRICES: ($/ton)
Last % Chg RSI
Copper 9,619 -0.1 52
Aluminum 2,661 +0.0 57
Zinc 2,466 -0.1 55
Lead 2,744 +0.7 55
Nickel 26,501 -0.7 49
Tin 32,500 -0.2 60
OTHER MARKETS:
Last % Chg % YTD
U.S. Dollar Index 74.787 -0.1 -5.4
Crude Oil $106.43 +0.2 +16
Gold $1,458.2 +0.4 +2.6
MSCI World Index 1,338.47 +0.3 +4.6
Mytilineos to Decide in ?Few Weeks? Plans for Lead, Zinc Plant
Mytilineos Holdings SA will decide in ?the next few weeks? plans for the Copsa Mica zinc and lead smelter in Romania.
Pakistan State Oil Faces Cash Problem, Managing Director Says
Pakistan State Oil Co., the nation?s biggest fuel retailer, is facing a ?severe? cash flow situation after customers failed to pay for their purchases, Managing Director Irfan K. Qureshi said.
Oil-Options ?Smile? Backs BNP, Goldman on Japan: Energy Markets
The oil-options market shows traders are almost equally divided on where crude is headed, a sign the 30 percent gain in prices since unrest erupted in the Middle East is ending.
Dhunseri to Spend $123 Million to Add Capacity in India (1)
Dhunseri Petrochem & Tea Ltd., an Indian maker of petrochemicals and tea, plans to spend 5.5 billion rupees ($123 million) to add capacity to make resins, tea and develop real estate as economic growth spurs demand.
INDUSTRIAL METALS:
Rio Tinto Says Rain Cuts Quarterly Coal, Iron Ore Output (3)
Rio Tinto Group, the second-largest mining company by sales, said first-quarter output of iron ore, coal and uranium fell after severe weather in Australia disrupted mining and hampered port and rail operations.
Copper May Decline for a Third Day on China Tightening Concern
Copper may fall for a third day in London on concern China might take more steps to tighten credit and a reduced assessment of Japan?s economy after last month?s earthquake and tsunami.
Base-Metal etfs May Not Beat Gold, blackrock?s Fuhr Says (1)
Exchange-traded funds for base metals are unlikely to attract as much demand as those for gold and silver, according to Deborah Fuhr, head of ETF research at blackrock Inc., which is planning a product backed by copper.
MINING:
Harmony Gold Says Headline Earnings to Benefit From Tax Credit
Harmony Gold Mining Co. Said its headline earnings per share will benefit from a tax credit of about 330 million rand.
Mechel Says U.S. Justice Family to Sell 44.8% of Its Shares (2)
OAO Mechel, Russia?s largest producer of steelmaking coal, said the U.S.-based Justice family offered 44.8 percent of its shares for sale after prices rose.
South Africa to End 33-Week Prospecting Moratorium on April 18
South Africa, the nation with the largest mineral wealth, will end a 33-week moratorium on prospecting applications on April 18 after installing an online system aimed at avoiding repeats of maladministration.
Fresnillo Silver Output Falls on Lower Grades, Gold Advances (1)
Fresnillo Plc, the world?s largest primary silver producer, said first-quarter output of the metal fell 4.3 percent as ore grades declined.
Aquarius Platinum Reports Acquisition of Mineral Rights
Aquarius Platinum Ltd. Reported the purchase of platinum group metal mineral rights by way of the acquisition of Afarak Platinum (Proprietary) Ltd., a private company incorporated in South Africa.
Lundin Says Minmetals Offers ?Better Proposition? Than Equinox
Lundin Mining Corp. Said Minmetals Resources Ltd., bidding for Equinox Minerals Ltd., is offering a ?much better economic proposition? than Equinox is offering shareholders of Lundin. Lundin Chief Executive Officer Phil Wright commented in a statement yesterday.
Fresnillo?s Gold Output Climbs to Record During First Quarter
Fresnillo Plc said gold production rose 13.3 percent to a record 96,407 ounces during the three months to March 31.
PRECIOUS METALS:
Equities Trump Gold as Best Inflation Hedge: Chart of the Day
Investors favor equities over gold as the best asset to protect wealth against rising inflation, according to a Barclays Capital survey of 129 wealth managers based in Asia.
AGRICULTURE:
Soybeans Advance as Biggest Drop in a Month Attracts Importers
Soybeans, corn and wheat rose in Chicago on speculation the biggest declines in almost a month are luring importers and investors.
Kenya Coffee Rises as Buyers Boost Stocks Before Season-End (1)
Kenyan coffee prices rose 23 percent at the penultimate sale of the season yesterday as buyers boosted their stocks, the Nairobi Coffee Exchange said.
Cocoa May Advance on Ivory Coast Disruption; Coffee Prices Climb
Cocoa, little changed in London trading, may rise on concerns the harvest in Ivory Coast, the world?s largest producer, could be disrupted as fighting persists. Coffee advanced.
Sugar Seen Declining as Output in India Predicted to Climb 5%
Sugar production in India, the world?s second-biggest grower, may advance for a third year as farmers increase plantings, pushing down global prices.
Palm Oil Drops to Two-Week Low, Tracking Decline in Crude Oil
Palm oil fell for a second day, tracking declines in crude oil after the International Energy Agency said that prices above $100 a barrel are starting to hurt the global economy, eroding demand for food and crop-based fuel.
Uganda Lowers Coffee-Export Forecast as Drought Cuts Yields (1)
Uganda, Africa?s second-biggest coffee exporter, slashed its shipment forecast for the 2010-11 season by 16 percent after a drought cut yields, the Uganda Coffee Development Authority said.
SHIPPING:
Platou Cuts 2011 Capesize Forecast After Coal Cargoes Curtailed
RS Platou Markets AS, an Oslo-based investment bank, lowered its estimates for capesize shipping rates this year after a reduction in the supply of coal cargoes cut first- quarter charter costs.
ECONOMIES:
Yen Falls as Commodities, Asia Stocks Gain Before Economic Data
The yen weakened while commodities and Asian stocks snapped two days of declines before data this week on Chinese inflation, U.S. retail sales and European industrial production.
Billionaire Li?s IPO May Reduce Dim Sum Allure: China Credit
Billionaire Li Ka-shing?s sale of yuan-denominated shares in a property trust in Hong Kong this week may reduce the allure of Dim Sum bonds, according to Royal Bank of Scotland Group Plc.
China Will Say March Inflation Jumped Above 5%, Brokerages Say
The Chinese government will probably announce this week that inflation jumped above 5 percent last month, according to Haitong Securities Co. And Central China Securities Co., citing market speculation.
Yen Snaps Four-Day Gain Before Economic Data; Asian Stocks Fall
The yen snapped a four-day advance versus the dollar before data this week on Chinese inflation, U.S. retail sales and European industrial production. Asian stocks fell for a third day, led by energy and utility companies.
Billionaire Li?s IPO May Reduce Dim Sum Allure: China Credit
Billionaire Li Ka-shing?s sale of yuan-denominated shares in a property trust in Hong Kong this week may reduce the allure of Dim Sum bonds, according to Royal Bank of Scotland Group Plc.
The Fed Rescue Program Too Bizarre to Be True: Michael Lewis
Last week the Federal Reserve bravely released 894 PDF files containing 29,346 pages that detailed its heroic actions during the financial crisis.
Banks Face Scrutiny of Sovereign Debt in EU Stress Tests (1)
European regulators will scrutinize banks? calculations for losses on sovereign debt held to maturity when carrying out this year?s stress tests, Europe?s top banking supervisor said.
U.K. March Jobless Claims Unexpectedly Rise on Benefit Rules (3)
U.K. jobless claims unexpectedly rose in March, led by women as a change in benefit rules pushed people into the labor market.
Asia Deficits Swell as Soaring Oil Cost Delays Subsidy Cuts (1)
Surging oil and food costs may swell budget deficits in Asia as governments spend on subsidies to keep consumer prices low and avoid inflation protests that helped topple regimes in the Middle East this year.
Fed?s Fisher Sees Risk of Inflation Getting Out of Control
Federal Reserve Bank of Dallas President Richard Fisher said he sees a risk of inflation getting out of control, according to a guest commentary in German newspaper Handelsblatt.
OTHER MARKETS:
Stocks, U.S. Futures Rally as Bonds, Yen Drop; Commodities Gain
Stocks rallied, with European equities rebounding from the biggest drop in four weeks, while the yen and Treasuries fell. U.S. index futures gained before jpmorgan Chase & Co. Reports earnings, and commodities advanced.
Pound Reaches Six-Month Low Versus Euro as Jobless Claims Rise
The pound touched the lowest in almost six months against the euro as a report showed U.K. jobless claims unexpectedly increased in March even as unemployment declined.
European Stocks, U.S. Futures Rise; Alcatel-Lucent Shares Rally
European stocks gained, rebounding from their biggest drop in four weeks, as the region?s factory output increased and building-material shares rallied. U.S. index futures and Asian shares advanced.
Oil Drops a Third Day as Libyan Rebels Consider Truce Proposal
Oil declined for a third day in New York, reversing earlier gains as Libyan rebels considered a Turkish initiative to end fighting in the North African country.
China Cotton Buying Slows for U.S. Sellers, Eastern Trading Says
China, the world?s largest cotton buyer, is reducing purchases of the fiber as demand slows and some mills delay orders, according to Eastern Trading Co., a U.S. exporter.
Mubarak, Sons Detained for 15 Days in Egypt Graft Inquiry (1)
Egypt?s public prosecutor ordered the detention of former President Hosni Mubarak for 15 days while he is being investigated as part of a corruption probe, state-run Nile News television reported.
Libya Rebels Urge More NATO Force to Avert Misrata Massacre (3)
Libyan rebels said Muammar Qaddafi?s forces are stepping up attacks on Misrata and firing rockets into the city and appealed for international help before a meeting today with their U.S.- led allies.
Pimco Is ?Large Overweight? on China, Predicts Earnings Growth
Pacific Investment Management Co., manager of the world?s largest mutual fund, is buying Chinese stocks because it expects earnings to grow as monetary tightening policies ease.
Malawi, Africa?s second-largest tea producer, reported a 14 percent price rise for the commodity at auction on quality, Tea Brokers Central Africa, managers of the auction, said in an e-mailed report.
The benchmark price of tea rose to $2.80 from $2.45 on March 29, according to the report.
?There was good demand for the leaf very closely following quality,? Tea Brokers said in the auction report.
Tea is Malawi?s second-largest foreign exchange earner after tobacco, generating 8 percent of total export earnings. The U.K. is typically the largest buyer of tea from Malawi.
Australia Tops Global Stock Gains Since 1900: Chart of the Day, Australia, the best performing equity market across the last 111 years, will probably come more into line with global peers because emerging market demand for its abundant raw materials may already have been priced in.
Economic events, agriculture reports:
Forecast Prior Time
(N.Y.)
Advance Retail Sales MAR 0.5% 1.0% 8:30
Retail Sales Less Autos MAR 0.7% 0.7% 8:30
Retail Sales Ex Auto&Gas MAR 0.5% 0.6% 8:30
Business Inventories FEB 0.8% 0.9% 10:00
JOLTS Job Openings FEB 2760 10:00
FED?s Beige Book 14:00
USDA Broiler Eggs Set APR 8 207796 15:00
METAL PRICES: ($/ton)
Last % Chg RSI
Copper 9,619 -0.1 52
Aluminum 2,661 +0.0 57
Zinc 2,466 -0.1 55
Lead 2,744 +0.7 55
Nickel 26,501 -0.7 49
Tin 32,500 -0.2 60
OTHER MARKETS:
Last % Chg % YTD
U.S. Dollar Index 74.787 -0.1 -5.4
Crude Oil $106.43 +0.2 +16
Gold $1,458.2 +0.4 +2.6
MSCI World Index 1,338.47 +0.3 +4.6
Mytilineos to Decide in ?Few Weeks? Plans for Lead, Zinc Plant
Mytilineos Holdings SA will decide in ?the next few weeks? plans for the Copsa Mica zinc and lead smelter in Romania.
Pakistan State Oil Faces Cash Problem, Managing Director Says
Pakistan State Oil Co., the nation?s biggest fuel retailer, is facing a ?severe? cash flow situation after customers failed to pay for their purchases, Managing Director Irfan K. Qureshi said.
Oil-Options ?Smile? Backs BNP, Goldman on Japan: Energy Markets
The oil-options market shows traders are almost equally divided on where crude is headed, a sign the 30 percent gain in prices since unrest erupted in the Middle East is ending.
Dhunseri to Spend $123 Million to Add Capacity in India (1)
Dhunseri Petrochem & Tea Ltd., an Indian maker of petrochemicals and tea, plans to spend 5.5 billion rupees ($123 million) to add capacity to make resins, tea and develop real estate as economic growth spurs demand.
INDUSTRIAL METALS:
Rio Tinto Says Rain Cuts Quarterly Coal, Iron Ore Output (3)
Rio Tinto Group, the second-largest mining company by sales, said first-quarter output of iron ore, coal and uranium fell after severe weather in Australia disrupted mining and hampered port and rail operations.
Copper May Decline for a Third Day on China Tightening Concern
Copper may fall for a third day in London on concern China might take more steps to tighten credit and a reduced assessment of Japan?s economy after last month?s earthquake and tsunami.
Base-Metal etfs May Not Beat Gold, blackrock?s Fuhr Says (1)
Exchange-traded funds for base metals are unlikely to attract as much demand as those for gold and silver, according to Deborah Fuhr, head of ETF research at blackrock Inc., which is planning a product backed by copper.
MINING:
Harmony Gold Says Headline Earnings to Benefit From Tax Credit
Harmony Gold Mining Co. Said its headline earnings per share will benefit from a tax credit of about 330 million rand.
Mechel Says U.S. Justice Family to Sell 44.8% of Its Shares (2)
OAO Mechel, Russia?s largest producer of steelmaking coal, said the U.S.-based Justice family offered 44.8 percent of its shares for sale after prices rose.
South Africa to End 33-Week Prospecting Moratorium on April 18
South Africa, the nation with the largest mineral wealth, will end a 33-week moratorium on prospecting applications on April 18 after installing an online system aimed at avoiding repeats of maladministration.
Fresnillo Silver Output Falls on Lower Grades, Gold Advances (1)
Fresnillo Plc, the world?s largest primary silver producer, said first-quarter output of the metal fell 4.3 percent as ore grades declined.
Aquarius Platinum Reports Acquisition of Mineral Rights
Aquarius Platinum Ltd. Reported the purchase of platinum group metal mineral rights by way of the acquisition of Afarak Platinum (Proprietary) Ltd., a private company incorporated in South Africa.
Lundin Says Minmetals Offers ?Better Proposition? Than Equinox
Lundin Mining Corp. Said Minmetals Resources Ltd., bidding for Equinox Minerals Ltd., is offering a ?much better economic proposition? than Equinox is offering shareholders of Lundin. Lundin Chief Executive Officer Phil Wright commented in a statement yesterday.
Fresnillo?s Gold Output Climbs to Record During First Quarter
Fresnillo Plc said gold production rose 13.3 percent to a record 96,407 ounces during the three months to March 31.
PRECIOUS METALS:
Equities Trump Gold as Best Inflation Hedge: Chart of the Day
Investors favor equities over gold as the best asset to protect wealth against rising inflation, according to a Barclays Capital survey of 129 wealth managers based in Asia.
AGRICULTURE:
Soybeans Advance as Biggest Drop in a Month Attracts Importers
Soybeans, corn and wheat rose in Chicago on speculation the biggest declines in almost a month are luring importers and investors.
Kenya Coffee Rises as Buyers Boost Stocks Before Season-End (1)
Kenyan coffee prices rose 23 percent at the penultimate sale of the season yesterday as buyers boosted their stocks, the Nairobi Coffee Exchange said.
Cocoa May Advance on Ivory Coast Disruption; Coffee Prices Climb
Cocoa, little changed in London trading, may rise on concerns the harvest in Ivory Coast, the world?s largest producer, could be disrupted as fighting persists. Coffee advanced.
Sugar Seen Declining as Output in India Predicted to Climb 5%
Sugar production in India, the world?s second-biggest grower, may advance for a third year as farmers increase plantings, pushing down global prices.
Palm Oil Drops to Two-Week Low, Tracking Decline in Crude Oil
Palm oil fell for a second day, tracking declines in crude oil after the International Energy Agency said that prices above $100 a barrel are starting to hurt the global economy, eroding demand for food and crop-based fuel.
Uganda Lowers Coffee-Export Forecast as Drought Cuts Yields (1)
Uganda, Africa?s second-biggest coffee exporter, slashed its shipment forecast for the 2010-11 season by 16 percent after a drought cut yields, the Uganda Coffee Development Authority said.
SHIPPING:
Platou Cuts 2011 Capesize Forecast After Coal Cargoes Curtailed
RS Platou Markets AS, an Oslo-based investment bank, lowered its estimates for capesize shipping rates this year after a reduction in the supply of coal cargoes cut first- quarter charter costs.
ECONOMIES:
Yen Falls as Commodities, Asia Stocks Gain Before Economic Data
The yen weakened while commodities and Asian stocks snapped two days of declines before data this week on Chinese inflation, U.S. retail sales and European industrial production.
Billionaire Li?s IPO May Reduce Dim Sum Allure: China Credit
Billionaire Li Ka-shing?s sale of yuan-denominated shares in a property trust in Hong Kong this week may reduce the allure of Dim Sum bonds, according to Royal Bank of Scotland Group Plc.
China Will Say March Inflation Jumped Above 5%, Brokerages Say
The Chinese government will probably announce this week that inflation jumped above 5 percent last month, according to Haitong Securities Co. And Central China Securities Co., citing market speculation.
Yen Snaps Four-Day Gain Before Economic Data; Asian Stocks Fall
The yen snapped a four-day advance versus the dollar before data this week on Chinese inflation, U.S. retail sales and European industrial production. Asian stocks fell for a third day, led by energy and utility companies.
Billionaire Li?s IPO May Reduce Dim Sum Allure: China Credit
Billionaire Li Ka-shing?s sale of yuan-denominated shares in a property trust in Hong Kong this week may reduce the allure of Dim Sum bonds, according to Royal Bank of Scotland Group Plc.
The Fed Rescue Program Too Bizarre to Be True: Michael Lewis
Last week the Federal Reserve bravely released 894 PDF files containing 29,346 pages that detailed its heroic actions during the financial crisis.
Banks Face Scrutiny of Sovereign Debt in EU Stress Tests (1)
European regulators will scrutinize banks? calculations for losses on sovereign debt held to maturity when carrying out this year?s stress tests, Europe?s top banking supervisor said.
U.K. March Jobless Claims Unexpectedly Rise on Benefit Rules (3)
U.K. jobless claims unexpectedly rose in March, led by women as a change in benefit rules pushed people into the labor market.
Asia Deficits Swell as Soaring Oil Cost Delays Subsidy Cuts (1)
Surging oil and food costs may swell budget deficits in Asia as governments spend on subsidies to keep consumer prices low and avoid inflation protests that helped topple regimes in the Middle East this year.
Fed?s Fisher Sees Risk of Inflation Getting Out of Control
Federal Reserve Bank of Dallas President Richard Fisher said he sees a risk of inflation getting out of control, according to a guest commentary in German newspaper Handelsblatt.
OTHER MARKETS:
Stocks, U.S. Futures Rally as Bonds, Yen Drop; Commodities Gain
Stocks rallied, with European equities rebounding from the biggest drop in four weeks, while the yen and Treasuries fell. U.S. index futures gained before jpmorgan Chase & Co. Reports earnings, and commodities advanced.
Pound Reaches Six-Month Low Versus Euro as Jobless Claims Rise
The pound touched the lowest in almost six months against the euro as a report showed U.K. jobless claims unexpectedly increased in March even as unemployment declined.
European Stocks, U.S. Futures Rise; Alcatel-Lucent Shares Rally
European stocks gained, rebounding from their biggest drop in four weeks, as the region?s factory output increased and building-material shares rallied. U.S. index futures and Asian shares advanced.
Oil Drops a Third Day as Libyan Rebels Consider Truce Proposal
Oil declined for a third day in New York, reversing earlier gains as Libyan rebels considered a Turkish initiative to end fighting in the North African country.
China Cotton Buying Slows for U.S. Sellers, Eastern Trading Says
China, the world?s largest cotton buyer, is reducing purchases of the fiber as demand slows and some mills delay orders, according to Eastern Trading Co., a U.S. exporter.
Mubarak, Sons Detained for 15 Days in Egypt Graft Inquiry (1)
Egypt?s public prosecutor ordered the detention of former President Hosni Mubarak for 15 days while he is being investigated as part of a corruption probe, state-run Nile News television reported.
Libya Rebels Urge More NATO Force to Avert Misrata Massacre (3)
Libyan rebels said Muammar Qaddafi?s forces are stepping up attacks on Misrata and firing rockets into the city and appealed for international help before a meeting today with their U.S.- led allies.
Pimco Is ?Large Overweight? on China, Predicts Earnings Growth
Pacific Investment Management Co., manager of the world?s largest mutual fund, is buying Chinese stocks because it expects earnings to grow as monetary tightening policies ease.
Malawi, Africa?s second-largest tea producer, reported a 14 percent price rise for the commodity at auction on quality, Tea Brokers Central Africa, managers of the auction, said in an e-mailed report.
The benchmark price of tea rose to $2.80 from $2.45 on March 29, according to the report.
?There was good demand for the leaf very closely following quality,? Tea Brokers said in the auction report.
Tea is Malawi?s second-largest foreign exchange earner after tobacco, generating 8 percent of total export earnings. The U.K. is typically the largest buyer of tea from Malawi.
Future Prices Gold Commodity Down Silver Follow Drop
Written By mine on Sabtu, 26 Februari 2011 | 13.00
The future price of commodity gold down for the first time in two weeks on sales by investors following the longest rally since August. Silver dropped for the second straight day. Silver futures for May delivery dropped 25.7 cents, or 0.8 per cent, to $US32.923 an ounce. Yesterday, the price declined 0.4 per cent. The metal gained 1.9 per cent this week. On Feb. 22, silver reached $US34.315, the highest since March 1980. The commodity has doubled in the past 12 months.
?Gold may still have the potential to advance toward the Dec. 7 high with support coming from growth in investment, geopolitical factors and inflation threats,? Tom Pawlicki, an analyst at MF Global Holdings Ltd. in Chicago, said in a report.
Political turmoil in parts of the Middle East and North Africa drove gold higher in the previous eight sessions. The metal?s 14-day relative-strength index topped 70 in the past two days, a signal that prices were poised to fall. The metal has climbed 5.6 per cent this month after tumbling 6.1 per cent in January.
?Gold had a corrective move, but new buying will come in because the geopolitical instability is far from over,? said Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago. Gold futures for April delivery fell $US6.50, or 0.5 per cent, to settle at $US1,409.30 an ounce on the Comex in New York. This week, the metal advanced 1.5 per cent, the fifth straight gain.
Yesterday, the price reached $US1,418.80, the highest since Jan. 3. On Dec. 7, the metal surged to a record $US1,432.50.
?Gold may still have the potential to advance toward the Dec. 7 high with support coming from growth in investment, geopolitical factors and inflation threats,? Tom Pawlicki, an analyst at MF Global Holdings Ltd. in Chicago, said in a report.
Political turmoil in parts of the Middle East and North Africa drove gold higher in the previous eight sessions. The metal?s 14-day relative-strength index topped 70 in the past two days, a signal that prices were poised to fall. The metal has climbed 5.6 per cent this month after tumbling 6.1 per cent in January.
?Gold had a corrective move, but new buying will come in because the geopolitical instability is far from over,? said Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago. Gold futures for April delivery fell $US6.50, or 0.5 per cent, to settle at $US1,409.30 an ounce on the Comex in New York. This week, the metal advanced 1.5 per cent, the fifth straight gain.
Yesterday, the price reached $US1,418.80, the highest since Jan. 3. On Dec. 7, the metal surged to a record $US1,432.50.
Sugar closes quiet, Gold continues to slide, silver recovers
Written By mine on Minggu, 23 Januari 2011 | 11.37
Sugar prices closed on a quiet note in the national capital today following restricted buying against sufficient stocks position.
Market analysts said adequate stocks position, amid restricted buying by bulk consumers like soft drink and ice-cream makers mainly kept sugar prices unaltered.
The following were today's quotation in Rs per quintal.
Sugar ready M-30 3,000-3,125 and S-30 2,980-3,100.
Mill delivery M-30 2,775-2,925 and S-30 2,760-2,900.
Sugar mill gate prices (excluding duty): Kinonni 2,900, Asmoli 2,880, Mawana 2,840, Titabi 2,830, Thanabhavan 2,800, Budhana 2795 and Dorala 2,845.
Divergent trend developed on the bullion market on Saturday as gold fell for a third day by Rs 30 to Rs 20,370 per 10 grams on sustained selling influenced by weak global trend, while silver recovered Rs 150 to Rs 43,000 per kg on buying by industrial units.
Traders said sustained selling by stockists in tandem with weakening global trend mainly influenced gold prices to trade in negative zone.
Some low level buying by industrial units helped a recovery in silver prices, they said.
On the domestic front, gold of 99.99 and 99.5 per cent purity lost Rs 30 each to Rs 20,370 and Rs 20,250 per 10 grams, respectively. Sovereign followed suit and traded lower by Rs 50 to Rs 16,800 per piece of eight grams.
On the other hand, silver ready recovered by Rs 150 to Rs 43,000 per kg and weekly-based delivery by Rs 255 to Rs 42,700 per kg.
Silver coins lacked necessary follow up support and declined by Rs 100 to Rs 48,400 for buying and Rs 48,500 for selling of 100 pieces.
Market analysts said adequate stocks position, amid restricted buying by bulk consumers like soft drink and ice-cream makers mainly kept sugar prices unaltered.
The following were today's quotation in Rs per quintal.
Sugar ready M-30 3,000-3,125 and S-30 2,980-3,100.
Mill delivery M-30 2,775-2,925 and S-30 2,760-2,900.
Sugar mill gate prices (excluding duty): Kinonni 2,900, Asmoli 2,880, Mawana 2,840, Titabi 2,830, Thanabhavan 2,800, Budhana 2795 and Dorala 2,845.
Divergent trend developed on the bullion market on Saturday as gold fell for a third day by Rs 30 to Rs 20,370 per 10 grams on sustained selling influenced by weak global trend, while silver recovered Rs 150 to Rs 43,000 per kg on buying by industrial units.
Traders said sustained selling by stockists in tandem with weakening global trend mainly influenced gold prices to trade in negative zone.
Some low level buying by industrial units helped a recovery in silver prices, they said.
On the domestic front, gold of 99.99 and 99.5 per cent purity lost Rs 30 each to Rs 20,370 and Rs 20,250 per 10 grams, respectively. Sovereign followed suit and traded lower by Rs 50 to Rs 16,800 per piece of eight grams.
On the other hand, silver ready recovered by Rs 150 to Rs 43,000 per kg and weekly-based delivery by Rs 255 to Rs 42,700 per kg.
Silver coins lacked necessary follow up support and declined by Rs 100 to Rs 48,400 for buying and Rs 48,500 for selling of 100 pieces.
New York Gold futures Prices Change as Dollar Rebounds erasing gains
Written By mine on Jumat, 17 Desember 2010 | 17.01
Gold futures were little changed, erasing earlier gains as the dollar rebounded from lows, making the metal less attractive as an alternative investment.
The dollar recovered little changed against a basket of six major currencies, having lost as much 0.8 percent earlier today. Bullion is usually inversely proportional to the dollar. Gold has gained 25 percent this year as investors lost confidence in currencies and sought to protect their wealth from debt misery in Europe.
?Given the nervous system and environment in the absence of more comprehensive physical support, gold may have more room to the negative as the dollar continues to strengthen and Treasury yields rally,? UBS AG London-based analyst Edel Tully said in a report.
Futures for February delivery were little changed at $ 1,370.90 an ounce on the Comex in New York at 7:21 pm, after gaining as much as 0.5 percent earlier today. The precious metal fell by 1 percent this week. Gold for immediate delivery was little changed at $ 1,370.35 an ounce in London after gaining as much as 0.6 percent earlier. The metal touched $ 1,361.39 in London yesterday, the lowest price since Nov. 29.
?If there are physical signs of stronger demand from traditional sources, we would be less worried about the prospect of further liquidation, but with the holiday period and year-end approaches, investors will increasingly be tempted to square up positions,? Tully said.
London ?fixing?
Bullion increased to $ 1,374.75 an ounce in the morning ?fixing? in London, which some mining companies to sell production, from $ 1,363 to yesterday afternoon to fix.
Assets in gold exchange traded products, fell to 1.87 tonnes 2,097.83 tons yesterday, according to data compiled by Bloomberg from 10 providers. Holdings reached a record 2,104.65 tonnes on Oct. 14. The metal is headed for a 10th annual advance and futures reached an all-time high of $ 1,432.50 per ounce on December 7.
Futures can be dropped by the price levels that triggered automatic sell orders, ?said Bayram Dincer, an analyst at LGT Capital Management in Pfaeffikon, Switzerland. That is a buying opportunity for those who are bullish, ?he said by e-mail.
Silver for March delivery lost 0.2 percent to $ 28,735 per ounce on the Comex. The metal has increased 71 percent this year, better than gold. ETP silver companies gained for sixth straight day, adding 0.94 tonnes 15,172.49 tonnes yesterday, the highest amount since at least February, data from four providers see.
Palladium for March delivery fell 0.7 percent to $ 737.50 an ounce on the New York Mercantile Exchange. Platinum for January delivery fell 0.1 percent to $ 1,697 an ounce. effects of the mining accident in chile chile mining shares chilean gold shares companies to profit from a second korean war effect of price of gold on earnings and stock price gold equities leveraging effect how will a korean war affect precious metal prices philadelphia gold and metal steel price forecast 2011 iron ore price index steel price forecast steel price fluctuation 2011 steel prices steel price 2011 coal prices 2011 iron ore iron price fluctuation mineral price index.
The dollar recovered little changed against a basket of six major currencies, having lost as much 0.8 percent earlier today. Bullion is usually inversely proportional to the dollar. Gold has gained 25 percent this year as investors lost confidence in currencies and sought to protect their wealth from debt misery in Europe.
?Given the nervous system and environment in the absence of more comprehensive physical support, gold may have more room to the negative as the dollar continues to strengthen and Treasury yields rally,? UBS AG London-based analyst Edel Tully said in a report.
Futures for February delivery were little changed at $ 1,370.90 an ounce on the Comex in New York at 7:21 pm, after gaining as much as 0.5 percent earlier today. The precious metal fell by 1 percent this week. Gold for immediate delivery was little changed at $ 1,370.35 an ounce in London after gaining as much as 0.6 percent earlier. The metal touched $ 1,361.39 in London yesterday, the lowest price since Nov. 29.
?If there are physical signs of stronger demand from traditional sources, we would be less worried about the prospect of further liquidation, but with the holiday period and year-end approaches, investors will increasingly be tempted to square up positions,? Tully said.
London ?fixing?
Bullion increased to $ 1,374.75 an ounce in the morning ?fixing? in London, which some mining companies to sell production, from $ 1,363 to yesterday afternoon to fix.
Assets in gold exchange traded products, fell to 1.87 tonnes 2,097.83 tons yesterday, according to data compiled by Bloomberg from 10 providers. Holdings reached a record 2,104.65 tonnes on Oct. 14. The metal is headed for a 10th annual advance and futures reached an all-time high of $ 1,432.50 per ounce on December 7.
Futures can be dropped by the price levels that triggered automatic sell orders, ?said Bayram Dincer, an analyst at LGT Capital Management in Pfaeffikon, Switzerland. That is a buying opportunity for those who are bullish, ?he said by e-mail.
Silver for March delivery lost 0.2 percent to $ 28,735 per ounce on the Comex. The metal has increased 71 percent this year, better than gold. ETP silver companies gained for sixth straight day, adding 0.94 tonnes 15,172.49 tonnes yesterday, the highest amount since at least February, data from four providers see.
Palladium for March delivery fell 0.7 percent to $ 737.50 an ounce on the New York Mercantile Exchange. Platinum for January delivery fell 0.1 percent to $ 1,697 an ounce. effects of the mining accident in chile chile mining shares chilean gold shares companies to profit from a second korean war effect of price of gold on earnings and stock price gold equities leveraging effect how will a korean war affect precious metal prices philadelphia gold and metal steel price forecast 2011 iron ore price index steel price forecast steel price fluctuation 2011 steel prices steel price 2011 coal prices 2011 iron ore iron price fluctuation mineral price index.
Canada Stock TSX Open Litle and Higher by Mining Shares and Mixed Commodities
Canada main stock index in Toronto can open little changed on Monday as copper and oil prices and increased Gold slipped on a day when U.S. markets will remain closed for Independence Day.
The Toronto Stock Exchange S & P / TSX composite index . GSPTSE lost 4.4 percent last week, hitting the lowest in more than four months as resource issues, particularly gold miners, stumbled heavily.
OIL slightly higher
U.S. crude oil climbed above $ 72 a barrel on Monday,
breakage of a five-day losing streak, but gains were limited due
concerns that slowing growth in the global economy could reduce demand.
[O / R] [ID: nSGE66405P]
COPPER rises
Copper prices rose on the back of the weak U.S. dollar and
Buy arbitration in Shanghai. [MET / L]
Gold Prices Dip
Gold prices lower sharp edges below $ 1,210 per ounce at
Monday as risk aversion that drove prices to record highs
last month declined with caution during the American Revolutionary War
Day holiday also keep a lid on profits. [GOL /]
Sino-Forest SIGNS FINANCING DEAL
Forest plantation operator Sino Forest Corp. (TRE.TO: Quote) said:
Monday at the Sino-Panel Investments Ltd. unit has entered
a financing agreement for up to 10 billion RMB ($ 1.5 billion)
with China Development Bank Corp. for projects in China.
[ID: nSGE6610KA]
VALE Deal reached in Sudbury
Vale (VALE5.SA: Quote) said on Sunday reached a preliminary
contract agreement with workers at the Sudbury, Ontario, nickel
and copper mining operation, signaling the end of a bitter,
year-long strike. [ID: nN04213666]
NORD RESOURCES fired
Nord Resources Corp said on Monday it was NRD.TO
temporary suspension of mining and crushing of ore in the
Johnson Camp Mine and was laying off 43 people on the copper
mine for cost reduction purposes.
Canadian dollar slips
The Canadian dollar fell against its U.S. counterpart on
Monday morning, as investor demand disappeared in favor of the euro.
[ID: nN05235183]
RESEARCH ROUNDUP
Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH / CA]
* Raymond James cuts Cervus Equipment (CVL.V: Quote) target
to EUR 13 from EUR 14, outperform rating
* Raymond James cuts Rocky Mountain dealers (RME.TO: Quote)
target price to C $ 10.50 C $ 13; outperform rating
* CIBC does Angle Energy (NGL.TO: Quote) price target from C $ 10.25
C $ 9.50, rating outperform
Taseko Mines Ltd. * Paradigm cuts (TKO.TO: Quote) price target to
C $ 6.50 from $ 7.75 C; buy rating
($ 1 = $ 1.07 Canadian)
The main stock index could increase Toronto?s opening on Thursday, led by mining shares after China reported a rise in exports, raising the demand outlook. Data released on Thursday morning provided a mixed reading on the Canadian economy. Canada posted a smaller than excepted trade surplus in April as the value of both exports and imports fell. Statistics Canada also reported that new home in Canada, prices rose for the 10th consecutive Mon
Stocks rose in Europe after the European Central Bank and the Bank of England kept their key interest rates unchanged, as widely expected, and as the head of the national pension fund of China said that the euro, Europe?s debt crisis again.
Here?s some news that could affect share prices:
OIL UP
Oil climbed above $ 74 a barrel Thursday after data showed an increase in Chinese exports in May and as the IEA revised upwards estimates of global oil demand growth this year. [O / R]
COPPER steady
Copper stabilized on Thursday, supported by a stronger euro and equity markets, while a decline in copper imports from China, the world?s largest consumer capped further gains. [MET / L]
GOLD DIPS
Gold eased below $ 1,225 an ounce in Europe on Thursday as equity markets rose and the euro climbed against the dollar resulting from increased appetite for assets considered a higher risk at the expense of precious metal?s. [GOL /]
LULU LEMON PROFIT jumps
Lulu Lemon Athletica Inc. (LLL.TO) (LULU.O) said on Thursday its fiscal first-quarter profit more than tripled as demand for yoga and workout wear increased significantly. [ID: nN10186339]
TRANSAT PROFIT DROPS
Transat AT Inc. (TRZb.TO) on Thursday reported a 85 percent drop in quarterly profit as lower selling prices and the strengthening Canadian dollar hurt the leisure travel company. [ID: nSGE6590GK]
DOLLARAMA PROFIT doubles
Dollarama Inc?s (DOL.TO) quarterly earnings more than doubled on Thursday, helped by the addition of new stores. [ID: nSGE6590GI]
ARC Energy to BUY STORM EXPLORATION
ARC Energy Trust (AET_u.TO) on Thursday said it agreed to pay about C $ 680,000,000 ($ 652,000,000) to acquire Storm Exploration Inc. (SEO.TO), what assets near Dawson ARC?s field, identified as the lowest cost unconventional gas play in Canada. [ID: nSGE65904D]
RESEARCH ROUNDUP
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH / CA]
Note: All values in RESEARCH ROUNDUP in Canadian dollars, unless otherwise indicated.
* Grif Interactive Media (MDF.TO) increased to $ 9.70 from $ 8; rating buy Acumen Capital
* ADF Group Inc. (DRX.TO) reduced to $ 3 to $ 3.50, to outperform rating at Raymond James
* Forzani Group (FGL.TO) increased to $ 20 from $ 19, rated outperform at RBC
* Kirkland Lake Gold Inc. (KGI.TO) started to market perform rating, price target $ 9 at Raymond James
* Le Chateau Inc. (CTUa.TO) reduced to $ 17 from $ 18; rating to buy from Versant
* Viterra Inc. (VT.TO) raised to outperform the market by BMO ($ 1 = $ 1043 Canadian run).
canadian oil company in namibia, copper price target 2011, target price commodities, the toronto stock exchange, toronto gold 33 ounch rate, toronto price of silver per ounce, toronto stock exchange gold copper, africa oil namibia oil stocks, tse stock target prices, tsx quotes canadian mining co, lulu lemon news, mongolia oil play, copper mine sells canada export china, mongolian oil plays, find me a new company stock share in tsx, mongolian mining share price, lulu lemon tsx, bp tsx, lulu lemon stocks, lulu lemon on the tsx.
Canadian Bank BMO Financial Group says it agreed to buy Marshall & Ilsley Corp. for $4.1 billion in stock in an effort to expand its North American business. Under terms of the deal, each share of Marshall & Ilsley, based in Milwaukee, Wis., will be exchanged for 0.1257 of BMO Financial shares. BMO plans to raise an additional $800 million Canadian dollars ($795 million) in equity before the deal closes.
BMO says the deal will help its earnings in 2013, excluding one-time acquisition costs of CA$540 million ($536 million).
BMO, based in Toronto, is buying Marshall & Ilsley's Troubled Asset Relief Program preferred shares and will repay them in full before the acquisition closes. The deal is expected to close by July 31.
The Toronto Stock Exchange S & P / TSX composite index . GSPTSE lost 4.4 percent last week, hitting the lowest in more than four months as resource issues, particularly gold miners, stumbled heavily.
OIL slightly higher
U.S. crude oil climbed above $ 72 a barrel on Monday,
breakage of a five-day losing streak, but gains were limited due
concerns that slowing growth in the global economy could reduce demand.
[O / R] [ID: nSGE66405P]
COPPER rises
Copper prices rose on the back of the weak U.S. dollar and
Buy arbitration in Shanghai. [MET / L]
Gold Prices Dip
Gold prices lower sharp edges below $ 1,210 per ounce at
Monday as risk aversion that drove prices to record highs
last month declined with caution during the American Revolutionary War
Day holiday also keep a lid on profits. [GOL /]
Sino-Forest SIGNS FINANCING DEAL
Forest plantation operator Sino Forest Corp. (TRE.TO: Quote) said:
Monday at the Sino-Panel Investments Ltd. unit has entered
a financing agreement for up to 10 billion RMB ($ 1.5 billion)
with China Development Bank Corp. for projects in China.
[ID: nSGE6610KA]
VALE Deal reached in Sudbury
Vale (VALE5.SA: Quote) said on Sunday reached a preliminary
contract agreement with workers at the Sudbury, Ontario, nickel
and copper mining operation, signaling the end of a bitter,
year-long strike. [ID: nN04213666]
NORD RESOURCES fired
Nord Resources Corp said on Monday it was NRD.TO
temporary suspension of mining and crushing of ore in the
Johnson Camp Mine and was laying off 43 people on the copper
mine for cost reduction purposes.
Canadian dollar slips
The Canadian dollar fell against its U.S. counterpart on
Monday morning, as investor demand disappeared in favor of the euro.
[ID: nN05235183]
RESEARCH ROUNDUP
Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH / CA]
* Raymond James cuts Cervus Equipment (CVL.V: Quote) target
to EUR 13 from EUR 14, outperform rating
* Raymond James cuts Rocky Mountain dealers (RME.TO: Quote)
target price to C $ 10.50 C $ 13; outperform rating
* CIBC does Angle Energy (NGL.TO: Quote) price target from C $ 10.25
C $ 9.50, rating outperform
Taseko Mines Ltd. * Paradigm cuts (TKO.TO: Quote) price target to
C $ 6.50 from $ 7.75 C; buy rating
($ 1 = $ 1.07 Canadian)
The main stock index could increase Toronto?s opening on Thursday, led by mining shares after China reported a rise in exports, raising the demand outlook. Data released on Thursday morning provided a mixed reading on the Canadian economy. Canada posted a smaller than excepted trade surplus in April as the value of both exports and imports fell. Statistics Canada also reported that new home in Canada, prices rose for the 10th consecutive Mon
Stocks rose in Europe after the European Central Bank and the Bank of England kept their key interest rates unchanged, as widely expected, and as the head of the national pension fund of China said that the euro, Europe?s debt crisis again.
Here?s some news that could affect share prices:
OIL UP
Oil climbed above $ 74 a barrel Thursday after data showed an increase in Chinese exports in May and as the IEA revised upwards estimates of global oil demand growth this year. [O / R]
COPPER steady
Copper stabilized on Thursday, supported by a stronger euro and equity markets, while a decline in copper imports from China, the world?s largest consumer capped further gains. [MET / L]
GOLD DIPS
Gold eased below $ 1,225 an ounce in Europe on Thursday as equity markets rose and the euro climbed against the dollar resulting from increased appetite for assets considered a higher risk at the expense of precious metal?s. [GOL /]
LULU LEMON PROFIT jumps
Lulu Lemon Athletica Inc. (LLL.TO) (LULU.O) said on Thursday its fiscal first-quarter profit more than tripled as demand for yoga and workout wear increased significantly. [ID: nN10186339]
TRANSAT PROFIT DROPS
Transat AT Inc. (TRZb.TO) on Thursday reported a 85 percent drop in quarterly profit as lower selling prices and the strengthening Canadian dollar hurt the leisure travel company. [ID: nSGE6590GK]
DOLLARAMA PROFIT doubles
Dollarama Inc?s (DOL.TO) quarterly earnings more than doubled on Thursday, helped by the addition of new stores. [ID: nSGE6590GI]
ARC Energy to BUY STORM EXPLORATION
ARC Energy Trust (AET_u.TO) on Thursday said it agreed to pay about C $ 680,000,000 ($ 652,000,000) to acquire Storm Exploration Inc. (SEO.TO), what assets near Dawson ARC?s field, identified as the lowest cost unconventional gas play in Canada. [ID: nSGE65904D]
RESEARCH ROUNDUP
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH / CA]
Note: All values in RESEARCH ROUNDUP in Canadian dollars, unless otherwise indicated.
* Grif Interactive Media (MDF.TO) increased to $ 9.70 from $ 8; rating buy Acumen Capital
* ADF Group Inc. (DRX.TO) reduced to $ 3 to $ 3.50, to outperform rating at Raymond James
* Forzani Group (FGL.TO) increased to $ 20 from $ 19, rated outperform at RBC
* Kirkland Lake Gold Inc. (KGI.TO) started to market perform rating, price target $ 9 at Raymond James
* Le Chateau Inc. (CTUa.TO) reduced to $ 17 from $ 18; rating to buy from Versant
* Viterra Inc. (VT.TO) raised to outperform the market by BMO ($ 1 = $ 1043 Canadian run).
canadian oil company in namibia, copper price target 2011, target price commodities, the toronto stock exchange, toronto gold 33 ounch rate, toronto price of silver per ounce, toronto stock exchange gold copper, africa oil namibia oil stocks, tse stock target prices, tsx quotes canadian mining co, lulu lemon news, mongolia oil play, copper mine sells canada export china, mongolian oil plays, find me a new company stock share in tsx, mongolian mining share price, lulu lemon tsx, bp tsx, lulu lemon stocks, lulu lemon on the tsx.
Canadian Bank BMO Financial Group says it agreed to buy Marshall & Ilsley Corp. for $4.1 billion in stock in an effort to expand its North American business. Under terms of the deal, each share of Marshall & Ilsley, based in Milwaukee, Wis., will be exchanged for 0.1257 of BMO Financial shares. BMO plans to raise an additional $800 million Canadian dollars ($795 million) in equity before the deal closes.
BMO says the deal will help its earnings in 2013, excluding one-time acquisition costs of CA$540 million ($536 million).
BMO, based in Toronto, is buying Marshall & Ilsley's Troubled Asset Relief Program preferred shares and will repay them in full before the acquisition closes. The deal is expected to close by July 31.
Silver and Gold Prices per Ounce Cool as Investors Intepreted in Trend Movement
Written By mine on Senin, 13 Desember 2010 | 07.38
Silver prices and gold price per ounce continue to cool as investors continue the trend of movement and economic news should be interpreted. Yesterday the market indicators ended the session mixed. The end of the day close for the Dow Jones Industrials ended in the red by 0.08% and settled at 11,370. Remained green and the Nasdaq ended the day by 0.26% at 2,616.67.
The S & P 500 ended in the green and by 0.34% and closed the session at 1,233.00. The ten year Treasury note yield ended at 3.22% yesterday. The dollar got strength of the euro yesterday. Gold floor price per ounce yesterday ended the session at $ 1,392.80 an ounce for February delivery. Silver floor price contract for March delivery ended the session at $ 28.82 an ounce.
In previous months the dollar is trending lower and commodity prices are rising. Recently, however, the dollar gains strength because of volatility in the other world. The inverse relationship between the dollar and precious metals commodity values in play. In addition, investors put offside as they decipher the outcomes associated with increased rate opportunities in China. Interpreting all the variables at play which make it difficult at this time and investment volume is lower due. Investors will be open to hearing more details on the Obama / GOP tax deal as many are viewing this as a different type of stimulus injection. It must affect the dollar and precious metals commodity prices.
gold and silver price december 10 all time high silver price cost of gold as of december 10th december 10 2010 gold value per gram december silver price gold per gram dec 2010 gold prices per ounce predictions price of silverm per ounce dec 10 trend of silver in the last two years gold price movement last week projection of silver prices price silver 2011 projection long term trend in metals price projected precious metals performance 2011 long term silver forecast weekly report of commodity market war inpect on gold silvr price nickel silver-base metals
Gold settled higher inflation concerns and weaker Treasury yields lured buyers back into the safe haven asset.
The news reinforced gold prices as investors tend to buy gold to hedge against inflation. Falling yields on Treasurys also encouraged investors back into the gold market. Gold continued long term to attract buyers, with open interest in June 2011 and December 2011 contracts gaining ground in recent days.
Gold opened the day at 20,511. A bounce after the solid employment data took us to an intraday high of 20,644. Dollar strength and a weaker market for treasury encouraged sales in the metal, takes us to a low of 20,502.
Gold finally settled the day at 20615.Now support for the gold MCX is seen at 20530 and below could see a test of 20,445.
Resistance is now likely to see at 20,672, a move above prices testing 20729.
Trading Ideas in 24 October 2010
Gold trading range is 20,445 to 20,729.
Yesterday gold settled higher on inflation concerns
Gold looks at support at 20,530 and resistance at 20,672 take.
Spdr gold business confidence fell by 1.52 tonnes to 1293.78 tonnes
The S & P 500 ended in the green and by 0.34% and closed the session at 1,233.00. The ten year Treasury note yield ended at 3.22% yesterday. The dollar got strength of the euro yesterday. Gold floor price per ounce yesterday ended the session at $ 1,392.80 an ounce for February delivery. Silver floor price contract for March delivery ended the session at $ 28.82 an ounce.
In previous months the dollar is trending lower and commodity prices are rising. Recently, however, the dollar gains strength because of volatility in the other world. The inverse relationship between the dollar and precious metals commodity values in play. In addition, investors put offside as they decipher the outcomes associated with increased rate opportunities in China. Interpreting all the variables at play which make it difficult at this time and investment volume is lower due. Investors will be open to hearing more details on the Obama / GOP tax deal as many are viewing this as a different type of stimulus injection. It must affect the dollar and precious metals commodity prices.
gold and silver price december 10 all time high silver price cost of gold as of december 10th december 10 2010 gold value per gram december silver price gold per gram dec 2010 gold prices per ounce predictions price of silverm per ounce dec 10 trend of silver in the last two years gold price movement last week projection of silver prices price silver 2011 projection long term trend in metals price projected precious metals performance 2011 long term silver forecast weekly report of commodity market war inpect on gold silvr price nickel silver-base metals
Gold settled higher inflation concerns and weaker Treasury yields lured buyers back into the safe haven asset.
The news reinforced gold prices as investors tend to buy gold to hedge against inflation. Falling yields on Treasurys also encouraged investors back into the gold market. Gold continued long term to attract buyers, with open interest in June 2011 and December 2011 contracts gaining ground in recent days.
Gold opened the day at 20,511. A bounce after the solid employment data took us to an intraday high of 20,644. Dollar strength and a weaker market for treasury encouraged sales in the metal, takes us to a low of 20,502.
Gold finally settled the day at 20615.Now support for the gold MCX is seen at 20530 and below could see a test of 20,445.
Resistance is now likely to see at 20,672, a move above prices testing 20729.
Trading Ideas in 24 October 2010
Gold trading range is 20,445 to 20,729.
Yesterday gold settled higher on inflation concerns
Gold looks at support at 20,530 and resistance at 20,672 take.
Spdr gold business confidence fell by 1.52 tonnes to 1293.78 tonnes
Gold Prices rebounds above 1360USD as dollar dips
Written By mine on Senin, 22 November 2010 | 01.40
Gold prices followed oil in the path of recovery at the start of this week as a possible Irish bailout pack weakened the dollar.
Spot gold was seen trading at $1360.14 an ounce at 12.30 p.m Singapore time while gold futures for December delivery was at $1,359.30 an ounce on the Comex in New York.
Analysts said the precious yellow metal is likely to move further up during the day as it already comes out of last week?s China impact. Last week, China's steps to rein in inflation dented gold prices.
Meanwhile, silver also climbed to the highest level in more than a week. Silver for immediate delivery rose as much as 1.8 percent to $27.8150 an ounce, the highest level since Nov. 11, and last traded at $27.5788 an ounce.
Platinum for immediate delivery gained 0.6 percent to $1,673.75 an ounce and spot palladium gained 0.8 percent to $708.25 an ounce.
The euro rose for a fourth day as European Union finance ministers said the deal will create a capital fund for Ireland?s banks and may end up restructuring the financial industry.
The greenback also dropped against a basket of six major counterparts including the euro and the yen. Gold typically moves inversely to the dollar.
Bullion lost 1.2 percent last week in its second straight decline as moves by China to fight inflation and slow growth eroded demand for precious metals and raw materials.
On Friday, Gold futures for December delivery lost 70 cents to settle at $1,352.30 on the Comex in New York.
Spot gold was seen trading at $1360.14 an ounce at 12.30 p.m Singapore time while gold futures for December delivery was at $1,359.30 an ounce on the Comex in New York.
Analysts said the precious yellow metal is likely to move further up during the day as it already comes out of last week?s China impact. Last week, China's steps to rein in inflation dented gold prices.
Meanwhile, silver also climbed to the highest level in more than a week. Silver for immediate delivery rose as much as 1.8 percent to $27.8150 an ounce, the highest level since Nov. 11, and last traded at $27.5788 an ounce.
Platinum for immediate delivery gained 0.6 percent to $1,673.75 an ounce and spot palladium gained 0.8 percent to $708.25 an ounce.
The euro rose for a fourth day as European Union finance ministers said the deal will create a capital fund for Ireland?s banks and may end up restructuring the financial industry.
The greenback also dropped against a basket of six major counterparts including the euro and the yen. Gold typically moves inversely to the dollar.
Bullion lost 1.2 percent last week in its second straight decline as moves by China to fight inflation and slow growth eroded demand for precious metals and raw materials.
On Friday, Gold futures for December delivery lost 70 cents to settle at $1,352.30 on the Comex in New York.
Commodities Gain Crude Oil Increases Gold rally
Written By mine on Senin, 08 November 2010 | 16.05
Advances in other commodities including precious metals, oil edged up to its highest level since October 2008, futures rose for a sixth day as gold prices rallied to a record and silver reached a 30-year high. Oil and precious metals strengthened as traders lost confidence in holding currencies as an investment.
Oil ?is getting some inspiration from other markets,? said Phil Flynn, a Chicago-based analyst and trader with investment adviser PFGBest. ?Oil is following gold and the other commodities.?
Crude for December delivery rose 21 cents to $87.06 a barrel on the New York Mercantile Exchange, the highest settlement price since Oct. 8, 2008. Oil has gained 12 percent in the past year. Prices jumped 6.7 percent last week, the most since February.
Brent crude for December settlement rose 35 cents, or 0.4 percent, to $88.46 a barrel on the ICE Futures Europe exchange in London.
Members of the Organization of Petroleum Exporting Countries have signaled they may seek a higher price range for oil as the depreciation of the U.S. currency erodes the purchasing power of their dollar-denominated exports.
The world will ?have to live with current oil prices,? Qatari Oil Minister Abdullah al-Attiyah said today in Doha. Qatar is OPEC?s second-smallest oil producer after Ecuador.
Ali Al-Naimi, the oil minister from Saudi Arabia, OPEC?s largest producer, indicated last week that a range of $70 to $90 a barrel is satisfactory. The kingdom had previously said it preferred a target of $75 a barrel.
Metals
Gold futures for December delivery rose $5.50, or 0.4 percent, to settle at a record $1,403.20 in New York on the Comex. Gold for immediate delivery jumped as high as $1,410.60, also a record.
Silver for December delivery rose 68.4 cents, or 2.6 percent, to $27.432 an ounce. Earlier, the price reached $27.64, the highest level for a most-active contract since March 1980.
The Dollar Index, which tracks the greenback against six major currencies, has dropped 13 percent since June, boosting commodities? appeal as an alternative investment. The currency started a decline before the Federal Reserve announced Nov. 2 it would purchase $600 billion in additional assets to stimulate the economy, a move known as quantitative easing.
The Dollar Index gained 0.6 percent to 77.025 at 3:27 p.m. in New York after dropping to an 11-month low last week.
Euro Under Pressure
The euro has similarly come under pressure as concern mounted that governments in the region will struggle to pay debt. Ireland is seeking support from the European Union this week to avoid a Greek-style bailout as investors shunned buying the country?s bonds. Gold reached a previous record in June when investors were concerned that Greece would go bankrupt.
The Thomson Reuters/Jefferies CRB Index of 19 commodities increased 0.5 percent to 315.25, the strongest level since Oct. 3, 2008. Twelve of the commodities advanced.
?Hedge funds have been helping to kick the market higher after last week?s intervention from the Fed and as demand from China continues to boom,? said Christopher Bellew, senior broker at Bache Commodities Ltd. in London.
Hedge funds increased bullish bets on oil to the highest level since at least June 2006, data from the U.S. Commodity Futures Trading Commission showed last week.
Bullish Bets
Funds and other large speculators increased wagers on rising prices by 8.6 percent in the seven days ended Nov. 2, the CFTC said in its Nov. 5 report. The figures showed bullish bets increased even before the Federal Reserve said it will boost debt purchases to revive the economy.
?The CFTC data from Friday shows that there are still plenty of bulls out there,? said Tom Bentz, a broker with BNP Paribas Commodity Futures Inc. in New York.
Oil will fall in coming weeks, with West Texas Intermediate, the grade deliverable against the New York futures contract, returning to between $70 and $80 a barrel, according to Credit Agricole CIB.
?Prices appear to have reacted mainly to increasing financial investment in the commodity sector, decided after the QE2 announcement,? Christophe Barret, a London-based oil analyst, wrote in a report received today, referring to the Fed?s stimulus measures. ?Prices should return to levels compatible with fundamentals in the coming weeks.?
U.S. oil supplies probably gained 1.75 million barrels, or 0.5 percent, last week from 368.2 million barrels, the fourth consecutive increase, according to the median of 10 estimates by analysts surveyed by Bloomberg News. The U.S. Energy Department will report its weekly inventory figures on Nov. 10 in Washington.
Stockpiles were 14 percent above the five-year average in the week ended Oct. 29, the department said last week.
Oil volume in electronic trading on the Nymex was 490,996 contracts as of 3:30 p.m. in New York. Volume totaled 655,239 contracts Nov. 5, 6.8 percent below the average of the past three months. Open interest was 1.49 million contracts.
Oil ?is getting some inspiration from other markets,? said Phil Flynn, a Chicago-based analyst and trader with investment adviser PFGBest. ?Oil is following gold and the other commodities.?
Crude for December delivery rose 21 cents to $87.06 a barrel on the New York Mercantile Exchange, the highest settlement price since Oct. 8, 2008. Oil has gained 12 percent in the past year. Prices jumped 6.7 percent last week, the most since February.
Brent crude for December settlement rose 35 cents, or 0.4 percent, to $88.46 a barrel on the ICE Futures Europe exchange in London.
Members of the Organization of Petroleum Exporting Countries have signaled they may seek a higher price range for oil as the depreciation of the U.S. currency erodes the purchasing power of their dollar-denominated exports.
The world will ?have to live with current oil prices,? Qatari Oil Minister Abdullah al-Attiyah said today in Doha. Qatar is OPEC?s second-smallest oil producer after Ecuador.
Ali Al-Naimi, the oil minister from Saudi Arabia, OPEC?s largest producer, indicated last week that a range of $70 to $90 a barrel is satisfactory. The kingdom had previously said it preferred a target of $75 a barrel.
Metals
Gold futures for December delivery rose $5.50, or 0.4 percent, to settle at a record $1,403.20 in New York on the Comex. Gold for immediate delivery jumped as high as $1,410.60, also a record.
Silver for December delivery rose 68.4 cents, or 2.6 percent, to $27.432 an ounce. Earlier, the price reached $27.64, the highest level for a most-active contract since March 1980.
The Dollar Index, which tracks the greenback against six major currencies, has dropped 13 percent since June, boosting commodities? appeal as an alternative investment. The currency started a decline before the Federal Reserve announced Nov. 2 it would purchase $600 billion in additional assets to stimulate the economy, a move known as quantitative easing.
The Dollar Index gained 0.6 percent to 77.025 at 3:27 p.m. in New York after dropping to an 11-month low last week.
Euro Under Pressure
The euro has similarly come under pressure as concern mounted that governments in the region will struggle to pay debt. Ireland is seeking support from the European Union this week to avoid a Greek-style bailout as investors shunned buying the country?s bonds. Gold reached a previous record in June when investors were concerned that Greece would go bankrupt.
The Thomson Reuters/Jefferies CRB Index of 19 commodities increased 0.5 percent to 315.25, the strongest level since Oct. 3, 2008. Twelve of the commodities advanced.
?Hedge funds have been helping to kick the market higher after last week?s intervention from the Fed and as demand from China continues to boom,? said Christopher Bellew, senior broker at Bache Commodities Ltd. in London.
Hedge funds increased bullish bets on oil to the highest level since at least June 2006, data from the U.S. Commodity Futures Trading Commission showed last week.
Bullish Bets
Funds and other large speculators increased wagers on rising prices by 8.6 percent in the seven days ended Nov. 2, the CFTC said in its Nov. 5 report. The figures showed bullish bets increased even before the Federal Reserve said it will boost debt purchases to revive the economy.
?The CFTC data from Friday shows that there are still plenty of bulls out there,? said Tom Bentz, a broker with BNP Paribas Commodity Futures Inc. in New York.
Oil will fall in coming weeks, with West Texas Intermediate, the grade deliverable against the New York futures contract, returning to between $70 and $80 a barrel, according to Credit Agricole CIB.
?Prices appear to have reacted mainly to increasing financial investment in the commodity sector, decided after the QE2 announcement,? Christophe Barret, a London-based oil analyst, wrote in a report received today, referring to the Fed?s stimulus measures. ?Prices should return to levels compatible with fundamentals in the coming weeks.?
U.S. oil supplies probably gained 1.75 million barrels, or 0.5 percent, last week from 368.2 million barrels, the fourth consecutive increase, according to the median of 10 estimates by analysts surveyed by Bloomberg News. The U.S. Energy Department will report its weekly inventory figures on Nov. 10 in Washington.
Stockpiles were 14 percent above the five-year average in the week ended Oct. 29, the department said last week.
Oil volume in electronic trading on the Nymex was 490,996 contracts as of 3:30 p.m. in New York. Volume totaled 655,239 contracts Nov. 5, 6.8 percent below the average of the past three months. Open interest was 1.49 million contracts.
Investments in gold Commodity over the past few quarters
Written By mine on Minggu, 07 November 2010 | 07.34
Commodity gold investments have provided very attractive returns over the past few quarters. Speculation and the slowdown in the global economy developed markets are key drivers of commodity gold prices in recent years. Historically, commodity gold prices saw an inverse relationship with the appreciation of the U.S. dollar on international markets.
Investors, especially large institutional investors have their allocations to commodity gold due to the weak U.S. dollar. Further weakness is expected in the U.S. dollar in the short term due to various actions by the Federal Reserve is expected to further boost the U.S. economy. Any further weakness in U.S. dollar could push commodity gold prices to the next level.
Those looking to invest in commodity gold can buy commodity gold bars or coins, or can buy units of commodity gold exchange-traded funds (ETFs). Commodity gold ETFs are very similar to mutual funds to an underlying commodity gold value. Analysts believe that commodity gold prices may go through a correction after Diwali due to the absence of the festival in connection with the question and that would be the right time to accumulate positions in commodity gold and commodity gold instruments associated with a medium to long term perspective .
TWO West African focused commodity gold hopefuls will today unveil plans to finance projects both believe could be advance business creators.
PMI Commodity gold, already listed on the Toronto Stock Exchange Venture will announce plans to co-list on the Australian Securities Exchange and raise up to $ 27,500,000 for its Obotan and Kubi commodity gold project in advance prior to a final investment decision in 2012.
PMI Commodity gold is focused on the initial production to 150,000 ounces per year of the two assets from 2013 with a mine life of approximately eight years.
The Obotan project, previously owned by Resolute and closed in 2002, when commodity gold fell to $ US350 an ounce, has indicated a resource of 3.064 million tonnes at 1.59 g / t for 156,000 ounces. Kubi is considered an important asset, but thedrilling tests.
The capital raising is managed by Hartley, will spend more than 39 million shares at 70 ? each.
Macquarie Bank is one of the major shareholders of the company.
PMI Commodity gold is also expected that former WMC Resources sturdy Peter Buck to announce as its new chairman.
Meanwhile, Noble Mineral Resources, the Bibiani commodity gold project, also in Ghana, announced today that at least 17 million U.S. dollars increased by 40 ? a share placement. Further negotiations could push it as high as $ 30 million.
Noble is at the beginning of a program in which five drilling rigs will operate simultaneously.
The source is now 1.98 million ounces, including 605,000 ounces of reserves.
Work is expected to focus on the western wall of the open pit, where recent drilling has shown significant mineralization within 300 meters of the surface.
Noble directed the Commission in June next year a plant producing 150,000 ounces per year.
Investors, especially large institutional investors have their allocations to commodity gold due to the weak U.S. dollar. Further weakness is expected in the U.S. dollar in the short term due to various actions by the Federal Reserve is expected to further boost the U.S. economy. Any further weakness in U.S. dollar could push commodity gold prices to the next level.
Those looking to invest in commodity gold can buy commodity gold bars or coins, or can buy units of commodity gold exchange-traded funds (ETFs). Commodity gold ETFs are very similar to mutual funds to an underlying commodity gold value. Analysts believe that commodity gold prices may go through a correction after Diwali due to the absence of the festival in connection with the question and that would be the right time to accumulate positions in commodity gold and commodity gold instruments associated with a medium to long term perspective .
TWO West African focused commodity gold hopefuls will today unveil plans to finance projects both believe could be advance business creators.
PMI Commodity gold, already listed on the Toronto Stock Exchange Venture will announce plans to co-list on the Australian Securities Exchange and raise up to $ 27,500,000 for its Obotan and Kubi commodity gold project in advance prior to a final investment decision in 2012.
PMI Commodity gold is focused on the initial production to 150,000 ounces per year of the two assets from 2013 with a mine life of approximately eight years.
The Obotan project, previously owned by Resolute and closed in 2002, when commodity gold fell to $ US350 an ounce, has indicated a resource of 3.064 million tonnes at 1.59 g / t for 156,000 ounces. Kubi is considered an important asset, but thedrilling tests.
The capital raising is managed by Hartley, will spend more than 39 million shares at 70 ? each.
Macquarie Bank is one of the major shareholders of the company.
PMI Commodity gold is also expected that former WMC Resources sturdy Peter Buck to announce as its new chairman.
Meanwhile, Noble Mineral Resources, the Bibiani commodity gold project, also in Ghana, announced today that at least 17 million U.S. dollars increased by 40 ? a share placement. Further negotiations could push it as high as $ 30 million.
Noble is at the beginning of a program in which five drilling rigs will operate simultaneously.
The source is now 1.98 million ounces, including 605,000 ounces of reserves.
Work is expected to focus on the western wall of the open pit, where recent drilling has shown significant mineralization within 300 meters of the surface.
Noble directed the Commission in June next year a plant producing 150,000 ounces per year.
Case Of Stock Gold Prices Rise 23 percent in 2010
Written By mine on Selasa, 02 November 2010 | 20.10
Gold price is up 23 percent for 2010, compared with a 20% rise in the NYSE Arca Gold Bugs index, which tracks the shares gold commodity producers such as Goldcorp (GG) and Barrick (ABX). Prominent gold fans are saying yes, reasoning that shares of miners haven't kept pace this year with the rise in the price of gold commodity.
But that gap closed this week, thanks to a rally sparked by a shiny earnings report at Goldcorp, the biggest miner of Canadian gold. And while next week's planned launch of QE2 certainly won't tempt anyone to dump their gold holdings, shares of the gold miners may for now be an even better way to hedge against the excesses of reflation-minded central bankers.
"Despite the buzz you've heard about gold and silver commodities over the last two months, the stocks haven't caught up," write Eric Sprott and David Franklin of gold-pushing Sprott Asset Management in Toronto. "We expect that to change over the next two quarters as investors realize how much stronger gold producers' earnings will be at $1,350 gold."
Exhibit A for that case came Thursday, when Goldcorp surged 5% and Barrick rose 3% following the announcement by Vancouver-based Goldcorp that profit quadrupled from a year ago, thanks to cost-cutting and rising gold prices. The firm said its cash profit margin surged to a record $979 an ounce in the third quarter, prompting it to double its dividend payout.
The strong results produced by Goldcorp suggest to gold bulls that the shares of gold miners? and exchange-traded funds that track various baskets of those securities could be the best way to benefit from the next dozen-odd rounds of currency devaluation. The Federal Reserve is expected to announce next Wednesday that it is preparing for another round of large scale asset purchases, and the Bank of Japan said Thursday it would move up its own meeting, presumably to announce actions that might ease upward pressure on the yen.
Sprott points to the lagging prices of the Market Vectors Gold Miners (GDX) exchange-traded fund and the Gold Bugs -- which, by the way, stands for "basket of unhedged gold stocks." Both track the performances of big miners -- a group whose gains seem likely only to expand as long as the commodity gold price stays where it is, let alone post a further rise.
"These are companies that can process an ounce of gold for $800 and sell it for $1,300, with virtually no sales risk," Sprott and Franklin write. "What other investment sector can boast that kind of margin in this environment?"
Yet as appealing as plunking down a few bucks for a gold ETF might seem, not everyone sees this as the way to play the gold craze. Tom Winmill, who manages the $118 million Midas (MIDSX) fund, says the index-minded strategy underlying most ETF investments "was totally discredited during the 2008 bust," because the diversification such approaches supposedly achieve proved worthless in a major crisis.
He says investors should focus on individual companies with strong resource bases and quality management teams, just as he does at Midas. The fund has returned 144% since Halloween of 2008, he says, compared with a 79% gain for the SPDR Gold Trust (GLD), which tracks the spot gold price. Its top holdings include Australia's Newcrest Mining (NCMGY) and Barrick.
That said, just about everyone agrees higher gold prices, should they be here to stay, will line the pockets of the better miners' shareholders. The Midas fund's recent gains, Winmill says in accord with Sprott, "may reflect only the operating leverage of the miners to the rise in the gold price" -- which is to say, the shares are rising because the profits are getting bigger.
Characteristically, Sprott -- who was warning last year that the United States is a "Ponzi scheme," beating Pimco's Bill Gross to that punch by 10 months -- says that trend is only getting started.
"If you haven't participated in gold's recent rise, don't fret, because the fun has only just begun," Sprott and Franklin write. "At $1,300 gold, these companies literally have a license to print money."
But that gap closed this week, thanks to a rally sparked by a shiny earnings report at Goldcorp, the biggest miner of Canadian gold. And while next week's planned launch of QE2 certainly won't tempt anyone to dump their gold holdings, shares of the gold miners may for now be an even better way to hedge against the excesses of reflation-minded central bankers.
"Despite the buzz you've heard about gold and silver commodities over the last two months, the stocks haven't caught up," write Eric Sprott and David Franklin of gold-pushing Sprott Asset Management in Toronto. "We expect that to change over the next two quarters as investors realize how much stronger gold producers' earnings will be at $1,350 gold."
Exhibit A for that case came Thursday, when Goldcorp surged 5% and Barrick rose 3% following the announcement by Vancouver-based Goldcorp that profit quadrupled from a year ago, thanks to cost-cutting and rising gold prices. The firm said its cash profit margin surged to a record $979 an ounce in the third quarter, prompting it to double its dividend payout.
The strong results produced by Goldcorp suggest to gold bulls that the shares of gold miners? and exchange-traded funds that track various baskets of those securities could be the best way to benefit from the next dozen-odd rounds of currency devaluation. The Federal Reserve is expected to announce next Wednesday that it is preparing for another round of large scale asset purchases, and the Bank of Japan said Thursday it would move up its own meeting, presumably to announce actions that might ease upward pressure on the yen.
Sprott points to the lagging prices of the Market Vectors Gold Miners (GDX) exchange-traded fund and the Gold Bugs -- which, by the way, stands for "basket of unhedged gold stocks." Both track the performances of big miners -- a group whose gains seem likely only to expand as long as the commodity gold price stays where it is, let alone post a further rise.
"These are companies that can process an ounce of gold for $800 and sell it for $1,300, with virtually no sales risk," Sprott and Franklin write. "What other investment sector can boast that kind of margin in this environment?"
Yet as appealing as plunking down a few bucks for a gold ETF might seem, not everyone sees this as the way to play the gold craze. Tom Winmill, who manages the $118 million Midas (MIDSX) fund, says the index-minded strategy underlying most ETF investments "was totally discredited during the 2008 bust," because the diversification such approaches supposedly achieve proved worthless in a major crisis.
He says investors should focus on individual companies with strong resource bases and quality management teams, just as he does at Midas. The fund has returned 144% since Halloween of 2008, he says, compared with a 79% gain for the SPDR Gold Trust (GLD), which tracks the spot gold price. Its top holdings include Australia's Newcrest Mining (NCMGY) and Barrick.
That said, just about everyone agrees higher gold prices, should they be here to stay, will line the pockets of the better miners' shareholders. The Midas fund's recent gains, Winmill says in accord with Sprott, "may reflect only the operating leverage of the miners to the rise in the gold price" -- which is to say, the shares are rising because the profits are getting bigger.
Characteristically, Sprott -- who was warning last year that the United States is a "Ponzi scheme," beating Pimco's Bill Gross to that punch by 10 months -- says that trend is only getting started.
"If you haven't participated in gold's recent rise, don't fret, because the fun has only just begun," Sprott and Franklin write. "At $1,300 gold, these companies literally have a license to print money."
Future Gold Prices Prediction 2012 in market
Written By mine on Sabtu, 30 Oktober 2010 | 02.10
Gold prices in 2010 rise frequently influence on dollar may include in 2011, in 2012 big gold bug eyes a glimpse of their favorite metal jump over the psychological (and technical) important. After a nearly 5 percent loss last month the price, the gold market was understandably hungry for some good news. And this week offered numerous snacks, large enough to double-digit wins feed, gold rose 2.2 percent in the previous five sessions. Wednesday gains put the yellow metal on track for its largest advance in nearly nine months.
Two of the most bullish factors in the gold market expectations of U.S. Fed Reserve may rely more on inflation-stoking quantitative easing measures, and news that China aims for the gold market to expand.
Earlier in the week, the Wall Street Journal, without sources, said the Fed was created to money will receive from her matured mortgage bond or mortgage companies to buy Treasury bonds. The report led to fresh inflation fears and sent the dollar down, gold prices and those served.
?The more the fault of the Fed buys, the lower the interest rate will be and the more money in circulation,? noted the street is Alix Steel. ?Although the yield on the 10-year Treasury bonds, a benchmark is less than 2.91%. One fear is that this step will lead to a devalued dollar, which hit an eight-month low against the yen on Tuesday, and a lack of confidence in the U.S. economy. ?
The concern is the Fed will resort such measures in the face of sure signs of economic recovery stalled. Many are holding their breath in anticipation of Friday unemployment numbers, which are expected rather week.
The Peoples Bank of China announced this week will see more commercial banks to import and export, but also gold, meaning the market to participate in the Shanghai Gold Exchange, the market as an indicator of rising Chinese demand.
?Suggestions of the PBOC to have a gold loan market and indications that they have decided to expand physical gold market development seems to give fresh faith gold as a financial instrument in China,? said Jaime Greenough, Futures Representative at Global Securities , in a note.
?Behind India, China is the second largest consumer physical, so every step to integrate liberalize and expand this market, over time, a growing hunger for gold promotion,? UBS analyst Edel Tully comment.
Gold Price Forecasts
It is safe to say that no other market for the Bulls and the Bears ass to do zo vaak als hoofden gouden in the market, where interpretations of the events shaping prijzen differ significantly from Bare Bones and technical analysis for the boring stuff of international espionage novels Kabale dripping dark and wild conspiracy theories. So no surprise that the price forecasts of analysts that the market can vary in ranges wider than the Grand Canyon.
London-based commodity brokerage firm Natixis believes gold supply and demand fundamentals are too poor to justify current price levels, let alone much higher advances. Actually sees the price drops to around $ 1050 per ounce in the fourth quarter, with further drops to as low as $ 950 per ounce in 2011 to highs of $ 1,150 per ounce next year. Those with a more bearish to facilitate the fears about a global financial Armageddon weakening euro zone as debt issues cool, eliminate much of the impetus for the profits of the precious metals in the past year and the treble record June.
Of course the Natixis analysts are not familiar with the knowledge by Mr. Embry at Sprott Asset Management.
The firm?s chief investment strategist, John Embry, told Mineweb Gold?s weekly podcast listeners Wednesday as gold ?is not between $ 1,500 and $ 2,000 over the next 18 months, I am dead wrong.?
Embry price forecast is based on a lack of optimism when it comes to some hope for a sustainable economic recovery in the western world ?and the belief that governments like the U.S. will resort to? throw so much money at this, it is to make your head spin, ?just to get a lid on things.
last move of China to the gold market to expand has been added to extremely bullish price Embry?s predictions. ?The Chinese were just out today [Tuesday], again suggesting that the greater public to stop buying and what have you, and actually is physical gold moving from west to east and when that process is largely complete, then the price goes loosening because gold is always true wealth is created and it is almost certainly being created in the Eastern world. ? gold price forecast 2011 gold price predictions 2011 gold predictions 2011 silver price predictions 2011 future gold prices 2011 gold price prediction 2012 gold price predictions 2012 gold price forecast 2012 silver price forecast 2011 gold price predictions
Two of the most bullish factors in the gold market expectations of U.S. Fed Reserve may rely more on inflation-stoking quantitative easing measures, and news that China aims for the gold market to expand.
Earlier in the week, the Wall Street Journal, without sources, said the Fed was created to money will receive from her matured mortgage bond or mortgage companies to buy Treasury bonds. The report led to fresh inflation fears and sent the dollar down, gold prices and those served.
?The more the fault of the Fed buys, the lower the interest rate will be and the more money in circulation,? noted the street is Alix Steel. ?Although the yield on the 10-year Treasury bonds, a benchmark is less than 2.91%. One fear is that this step will lead to a devalued dollar, which hit an eight-month low against the yen on Tuesday, and a lack of confidence in the U.S. economy. ?
The concern is the Fed will resort such measures in the face of sure signs of economic recovery stalled. Many are holding their breath in anticipation of Friday unemployment numbers, which are expected rather week.
The Peoples Bank of China announced this week will see more commercial banks to import and export, but also gold, meaning the market to participate in the Shanghai Gold Exchange, the market as an indicator of rising Chinese demand.
?Suggestions of the PBOC to have a gold loan market and indications that they have decided to expand physical gold market development seems to give fresh faith gold as a financial instrument in China,? said Jaime Greenough, Futures Representative at Global Securities , in a note.
?Behind India, China is the second largest consumer physical, so every step to integrate liberalize and expand this market, over time, a growing hunger for gold promotion,? UBS analyst Edel Tully comment.
Gold Price Forecasts
It is safe to say that no other market for the Bulls and the Bears ass to do zo vaak als hoofden gouden in the market, where interpretations of the events shaping prijzen differ significantly from Bare Bones and technical analysis for the boring stuff of international espionage novels Kabale dripping dark and wild conspiracy theories. So no surprise that the price forecasts of analysts that the market can vary in ranges wider than the Grand Canyon.
London-based commodity brokerage firm Natixis believes gold supply and demand fundamentals are too poor to justify current price levels, let alone much higher advances. Actually sees the price drops to around $ 1050 per ounce in the fourth quarter, with further drops to as low as $ 950 per ounce in 2011 to highs of $ 1,150 per ounce next year. Those with a more bearish to facilitate the fears about a global financial Armageddon weakening euro zone as debt issues cool, eliminate much of the impetus for the profits of the precious metals in the past year and the treble record June.
Of course the Natixis analysts are not familiar with the knowledge by Mr. Embry at Sprott Asset Management.
The firm?s chief investment strategist, John Embry, told Mineweb Gold?s weekly podcast listeners Wednesday as gold ?is not between $ 1,500 and $ 2,000 over the next 18 months, I am dead wrong.?
Embry price forecast is based on a lack of optimism when it comes to some hope for a sustainable economic recovery in the western world ?and the belief that governments like the U.S. will resort to? throw so much money at this, it is to make your head spin, ?just to get a lid on things.
last move of China to the gold market to expand has been added to extremely bullish price Embry?s predictions. ?The Chinese were just out today [Tuesday], again suggesting that the greater public to stop buying and what have you, and actually is physical gold moving from west to east and when that process is largely complete, then the price goes loosening because gold is always true wealth is created and it is almost certainly being created in the Eastern world. ? gold price forecast 2011 gold price predictions 2011 gold predictions 2011 silver price predictions 2011 future gold prices 2011 gold price prediction 2012 gold price predictions 2012 gold price forecast 2012 silver price forecast 2011 gold price predictions
Stock fund could fall harder than gold if metal price corrects
Written By mine on Minggu, 24 Oktober 2010 | 10.28
The miner ETF stalling near its 2008 high could be an ominous sign for gold prices, which some say are due for a pullback after a nearly uninterrupted upward surge since the beginning of August.
Market Vector Gold Miners ETF /quotes/comstock/13*!gdx/quotes/nls/gdx (GDX 54.89, +0.61, +1.12%) lost about 5% last week, falling harder than gold itself as futures prices dropped sharply after rallying close to $1,400 a ounce.
For investors who want to own gold, choosing between a miner-stock fund and a commodity ETF such as SPDR Gold Shares /quotes/comstock/13*!gld/quotes/nls/gld (GLD 129.73, +0.26, +0.20%) is an important decision because they can behave differently depending on market conditions. Tax treatment is also different, which is another important consideration for investors using a taxable account.
?To see any product struggle at highs and break support, at a minimum it is time to become cautious on the holdings,? said Chris Kimble, head of Kimble Charting Solutions, a firm specializing in technical analysis.
Market Vector Gold Miners ETF ?has done very well of late, due in part to the U.S. dollar falling over 15% in the past few months,? Kimble noted in an email.
Yet pessimism about the dollar might be overdone, so ?gold-stock owners should pull at least part of their holdings off the table at this point in time,? the analyst said. If the dollar does rally after falling close to a multiyear low, it would be ?ugly? for gold-miner stocks, Kimble added.
The PowerShares DB US Dollar Bullish Fund /quotes/comstock/13*!uup/quotes/nls/uup (UUP 22.47, 0.00, 0.00%) , an ETF that tracks the dollar?s movement against a basket of foreign currencies, has been in a steep decline on fears the Federal Reserve will debase the greenback in its efforts to jump-start the U.S. economy. However, it hasn?t breached $22 a share, which is roughly the level that has halted previous declines over the past three years.
Gold-miner stocks have been more volatile than the precious metal itself during the credit crunch. For example, Market Vector Gold Miners ETF fell off a cliff in 2008 when the global financial system skidded.
After peaking at close to $57 a share in March 2008, the ETF plunged to under $16 in October of that year. Market Vector Gold Miners ETF has more than tripled in price since bottoming, while SPDR Gold Shares has practically doubled.
Gold miners? fortunes are dependent upon the price of gold, but the stocks are also affected by the companies? price of production and trends in the broader stock market, said Glenn Smith, vice president at Van Eck Global, which manages Market Vector Gold Miners ETF.
Miner stocks are prone to periods of outperforming or trailing gold prices, but the two have a ?fairly close correlation over time,? he said. When gold prices are rising, miners usually outperform slightly, and vice versa when gold is falling or static, Smith noted.
?Game-changer? for gold miners
However, 2008 was a ?game-changer? as the relationship between gold and miners became unglued from investors? flight to quality.
Market Vectors Gold Miners ETF finished 2008 with a loss of 26.1%, while SPDR Gold Shares ended the year with a gain of 4.9%, according to investment researcher Morningstar Inc.
?At the end of the day, gold miners are affected by gold prices and the equity market,? Smith said. ?Gold itself is more of a defensive investment that benefits when investors are seeking safe havens.?
Gold has also experienced a tailwind lately from fears the Fed?s efforts to buy bonds and keep interest rates low may spark inflation. Yet any unwinding of gold?s recent gains could hurt miner stocks more than the metal.
Taxes are another important factor investors need to consider when considering exposure to gold. Long-term gains on SPDR Gold Shares and other ETFs that hold precious metals are taxed at a higher 28% rate because bullion is considered a ?collectible? by the Internal Revenue Service.
Meanwhile, the rate for most investors is currently 15% for gains on stocks, including gold miners.
Several exchange-traded products invest in miner shares, but Market Vector Gold Miners ETF is by far the largest with about $7.4 billion in assets. The fund has an expense ratio of 0.53% and its top five holdings are Barrick Gold Corp. /quotes/comstock/13*!abx/quotes/nls/abx (ABX 45.97, +0.52, +1.14%) , Goldcorp Inc. /quotes/comstock/13*!gg/quotes/nls/gg (GG 42.04, +0.17, +0.41%) , Newmont Mining Corp. /quotes/comstock/13*!nem/quotes/nls/nem (NEM 59.37, +0.15, +0.25%) , AngloGold Ashanti Ltd. /quotes/comstock/13*!au/quotes/nls/au (AU 45.89, +0.38, +0.83%) and Compania de Minas Buenaventura /quotes/comstock/13*!bvn/quotes/nls/bvn (BVN 50.35, +0.92, +1.86%) of Peru.
?The fund has been much more volatile than gold due to two reasons. First, the gold miners have enormous fixed costs. That operating leverage can cause cash flows -- which are the ultimate source of value -- to gyrate wildly,? says Morningstar in its latest analyst report on Market Vectors Gold Miners ETF.[http://www.marketwatch.com]
Market Vector Gold Miners ETF /quotes/comstock/13*!gdx/quotes/nls/gdx (GDX 54.89, +0.61, +1.12%) lost about 5% last week, falling harder than gold itself as futures prices dropped sharply after rallying close to $1,400 a ounce.
For investors who want to own gold, choosing between a miner-stock fund and a commodity ETF such as SPDR Gold Shares /quotes/comstock/13*!gld/quotes/nls/gld (GLD 129.73, +0.26, +0.20%) is an important decision because they can behave differently depending on market conditions. Tax treatment is also different, which is another important consideration for investors using a taxable account.
?To see any product struggle at highs and break support, at a minimum it is time to become cautious on the holdings,? said Chris Kimble, head of Kimble Charting Solutions, a firm specializing in technical analysis.
Market Vector Gold Miners ETF ?has done very well of late, due in part to the U.S. dollar falling over 15% in the past few months,? Kimble noted in an email.
Yet pessimism about the dollar might be overdone, so ?gold-stock owners should pull at least part of their holdings off the table at this point in time,? the analyst said. If the dollar does rally after falling close to a multiyear low, it would be ?ugly? for gold-miner stocks, Kimble added.
The PowerShares DB US Dollar Bullish Fund /quotes/comstock/13*!uup/quotes/nls/uup (UUP 22.47, 0.00, 0.00%) , an ETF that tracks the dollar?s movement against a basket of foreign currencies, has been in a steep decline on fears the Federal Reserve will debase the greenback in its efforts to jump-start the U.S. economy. However, it hasn?t breached $22 a share, which is roughly the level that has halted previous declines over the past three years.
Gold-miner stocks have been more volatile than the precious metal itself during the credit crunch. For example, Market Vector Gold Miners ETF fell off a cliff in 2008 when the global financial system skidded.
After peaking at close to $57 a share in March 2008, the ETF plunged to under $16 in October of that year. Market Vector Gold Miners ETF has more than tripled in price since bottoming, while SPDR Gold Shares has practically doubled.
Gold miners? fortunes are dependent upon the price of gold, but the stocks are also affected by the companies? price of production and trends in the broader stock market, said Glenn Smith, vice president at Van Eck Global, which manages Market Vector Gold Miners ETF.
Miner stocks are prone to periods of outperforming or trailing gold prices, but the two have a ?fairly close correlation over time,? he said. When gold prices are rising, miners usually outperform slightly, and vice versa when gold is falling or static, Smith noted.
?Game-changer? for gold miners
However, 2008 was a ?game-changer? as the relationship between gold and miners became unglued from investors? flight to quality.
Market Vectors Gold Miners ETF finished 2008 with a loss of 26.1%, while SPDR Gold Shares ended the year with a gain of 4.9%, according to investment researcher Morningstar Inc.
?At the end of the day, gold miners are affected by gold prices and the equity market,? Smith said. ?Gold itself is more of a defensive investment that benefits when investors are seeking safe havens.?
Gold has also experienced a tailwind lately from fears the Fed?s efforts to buy bonds and keep interest rates low may spark inflation. Yet any unwinding of gold?s recent gains could hurt miner stocks more than the metal.
Taxes are another important factor investors need to consider when considering exposure to gold. Long-term gains on SPDR Gold Shares and other ETFs that hold precious metals are taxed at a higher 28% rate because bullion is considered a ?collectible? by the Internal Revenue Service.
Meanwhile, the rate for most investors is currently 15% for gains on stocks, including gold miners.
Several exchange-traded products invest in miner shares, but Market Vector Gold Miners ETF is by far the largest with about $7.4 billion in assets. The fund has an expense ratio of 0.53% and its top five holdings are Barrick Gold Corp. /quotes/comstock/13*!abx/quotes/nls/abx (ABX 45.97, +0.52, +1.14%) , Goldcorp Inc. /quotes/comstock/13*!gg/quotes/nls/gg (GG 42.04, +0.17, +0.41%) , Newmont Mining Corp. /quotes/comstock/13*!nem/quotes/nls/nem (NEM 59.37, +0.15, +0.25%) , AngloGold Ashanti Ltd. /quotes/comstock/13*!au/quotes/nls/au (AU 45.89, +0.38, +0.83%) and Compania de Minas Buenaventura /quotes/comstock/13*!bvn/quotes/nls/bvn (BVN 50.35, +0.92, +1.86%) of Peru.
?The fund has been much more volatile than gold due to two reasons. First, the gold miners have enormous fixed costs. That operating leverage can cause cash flows -- which are the ultimate source of value -- to gyrate wildly,? says Morningstar in its latest analyst report on Market Vectors Gold Miners ETF.[http://www.marketwatch.com]
Gold Comoodities Prices Fall almost one percent
Written By mine on Senin, 18 Oktober 2010 | 04.53
Gold prices fell nearly one percent, the commodities prices weighed down by a rebound in U.S. dollars, after Federal Reserve Chairman Bernanke on Friday gave some details of the the much-anticipated easing move is weighed by the central bank.
The dollar rose about half a percent against a basket of currency on Monday, after rising from a 10-month low late last Weekly technical indicators pointed to the possibility of a further related short rebound. [USD /]. ?Before today, gold prices will continue to slip a bit, and the lungs to liquidate their positions. On Friday gold prices today performance below expectations due to profit taking as investors think the gold rally may get beaten up after he reaches record prices recently, ?said Ong Yi Ling, an analyst at Phillip Futures.
* Gold seen stabilize around current levels
* Gold may go back to $ 1.340 / oz-technicals
* Coming up: U.S. industrial production in September, 1315 GMT
?But as long as gold is able to stay above $ 1,350 level, I will look at a bullish bias on gold. ? Bernanke on Friday gave his most explicit signal yet that the U.S. central bank was set to ease monetary policy further but gave no details.
XAU = Gold fell $ 12.55 to $ 1,357.95 an ounce by 0317 GMT, extending losses from the previous session. ?Prices fell sharply this morning as the dollar strengthened. But we have seen a good buy around $ 1,356 to $ 1,356.5 levels. Now the price stabilizes around this level, ?said a Singapore-based trader, adding that there was strong support in the range of $ 1350-1352 dollars.
?And if the dollar is not much to do, could gold consolidate around current levels. ? U.S. gold futures for December delivery fell a GCZ0 percent to $ 1,359.2 an ounce. A bullish target of $ 1,404 per ounce spot gold XAU = temporarily broken because the retracement can continue the price down to $ 1,340 per ounce drive, said Wang Tao, an
Reuters analyst.
Investors are eyeing U.S. industrial production data due later on Monday for clues to the timing and extent of Federal Reserve debt purchase program.
Spot silver XAG = fell as much 2.3 percent to $ 23.69 a ounce, before recovering to $ 23.80. Silver hit a 30-year high $ 24.90 on Thursday.
Companies in the iShares Silver Trust (SLV) rose to a new high of 10,224.05 tonnes 10,163.20 tonnes from October 15 to October 14. iShares? companies had reached record levels for three consecutive sessions, showing increasing interest in silver, a cheaper alternative to gold.
Bullion investors rightly impressed by Silver?s outperformance of gold this year, but they would do well to advised to be wary of seeing the precious metal as a mere Proxy cheaper, analysts said.
Spot palladium XPD = fell 1.3 percent to $ 577.50 an ounce, from nine years at a high $ 603.50 hit in the previous session.
The dollar rose about half a percent against a basket of currency on Monday, after rising from a 10-month low late last Weekly technical indicators pointed to the possibility of a further related short rebound. [USD /]. ?Before today, gold prices will continue to slip a bit, and the lungs to liquidate their positions. On Friday gold prices today performance below expectations due to profit taking as investors think the gold rally may get beaten up after he reaches record prices recently, ?said Ong Yi Ling, an analyst at Phillip Futures.
* Gold seen stabilize around current levels
* Gold may go back to $ 1.340 / oz-technicals
* Coming up: U.S. industrial production in September, 1315 GMT
?But as long as gold is able to stay above $ 1,350 level, I will look at a bullish bias on gold. ? Bernanke on Friday gave his most explicit signal yet that the U.S. central bank was set to ease monetary policy further but gave no details.
XAU = Gold fell $ 12.55 to $ 1,357.95 an ounce by 0317 GMT, extending losses from the previous session. ?Prices fell sharply this morning as the dollar strengthened. But we have seen a good buy around $ 1,356 to $ 1,356.5 levels. Now the price stabilizes around this level, ?said a Singapore-based trader, adding that there was strong support in the range of $ 1350-1352 dollars.
?And if the dollar is not much to do, could gold consolidate around current levels. ? U.S. gold futures for December delivery fell a GCZ0 percent to $ 1,359.2 an ounce. A bullish target of $ 1,404 per ounce spot gold XAU = temporarily broken because the retracement can continue the price down to $ 1,340 per ounce drive, said Wang Tao, an
Reuters analyst.
Investors are eyeing U.S. industrial production data due later on Monday for clues to the timing and extent of Federal Reserve debt purchase program.
Spot silver XAG = fell as much 2.3 percent to $ 23.69 a ounce, before recovering to $ 23.80. Silver hit a 30-year high $ 24.90 on Thursday.
Companies in the iShares Silver Trust (SLV) rose to a new high of 10,224.05 tonnes 10,163.20 tonnes from October 15 to October 14. iShares? companies had reached record levels for three consecutive sessions, showing increasing interest in silver, a cheaper alternative to gold.
Bullion investors rightly impressed by Silver?s outperformance of gold this year, but they would do well to advised to be wary of seeing the precious metal as a mere Proxy cheaper, analysts said.
Spot palladium XPD = fell 1.3 percent to $ 577.50 an ounce, from nine years at a high $ 603.50 hit in the previous session.
New History Copper Prices on Dollar Rally Commodity Demand
Written By mine on Kamis, 07 Oktober 2010 | 01.27
Copper prices rally as commodity demand, Morgan Stanley boosted its 2011 price forecasts for gold and copper, and recommended equities including Xstrata Plc and Kazakhmys Plc, because of expected supply constraints and a weak dollar.
?Accelerating weakness in the U.S. currency, driven by fears of renewed quantitative easing to confront sluggish U.S. growth, is proving to be a boon to commodity markets,? Morgan Stanley metals and mining analysts led by Peter Richardson said. Gains will be supported by ?resilient growth in emerging markets,? they said.
Gold prices are expected to average $1,315 an ounce, 14 percent higher than Morgan Stanley?s previous forecast, and copper $3.80 a pound, up 10 percent. Iron-ore prices are set to trade next year at $135 a ton, unchanged on the bank?s previous forecast, and up from an average $122 a ton for this year.
?Despite some persistent market concerns about the strength of demand for steel-making raw materials in 2011-12, and fears regarding the growth in new capacity over this timeframe, especially in iron ore, our fundamental analysis highlights continued strength in premium products,? Morgan Stanley said.
Seaborne markets will struggle to provide sufficient supply to match anticipated growth in steel production, at least until 2012, it said.
Other companies Morgan Stanley favored were Kobe Steel Ltd., Impala Platinum Holdings Ltd., Tata Steel Ltd., Posco and Fortescue Metals Group Ltd.
Copper prices fell the most in three weeks as the dollar rebounded, reducing the appeal of commodities as alternative investments.
The greenback rose as much as 0.6 percent against a basket of six major currencies. Copper has gained 27 percent since July 1 as inventories dropped and the dollar slumped. On Oct. 1, the metal reached $3.722 a pound in New York, the highest level since July 30, 2008.
?Copper is floating a little on the stronger dollar,? said Frank McGhee, the head dealer at Integrated Brokerage Services in Chicago. ?We?re seeing some technical profit- taking.?
Copper futures for December delivery slid 2.65 cents, or 0.7 percent, to close at $3.664 a pound at 1:20 p.m. on the Comex, the biggest loss for a most-active contract since Sept. 10.
Stockpiles monitored by the London Metal Exchange rose for the first time in six sessions. Orders to withdraw copper from inventories slid for the ninth straight session, the longest slump since May 11.
The metal may resume its rally, reaching $3.80 in eight to 10 days, McGhee said. Demand in China, the world?s largest consumer, is ?underpinning the market,? he said.
In London, copper for delivery in three months dropped $36, or 0.4 percent, to $8,064 a metric ton ($3.66 a pound).
Lead also fell on the LME. Aluminum, nickel and tin rose, while zinc was little changed.
Copper dropped for a second day as as Japan expanded stimulus measures, weakening the dollar, and on concern that the European debt crisis will be prolonged. Tin traded within 1.2 percent of an all-time high.
Copper for three-month delivery on the London Metal Exchange fell as much as 0.5 percent to $8,022 a metric ton and traded at $8,030 at 3:19 p.m. in Singapore. The December delivery contract on the Comex in New York lost as much as 0.5 percent to $3.646 a pound. The Shanghai Futures Exchange is closed till Oct. 7 for the National Day holiday.
Copper fell as ?a stronger U.S. dollar and concerns that Europe?s major banks are undercapitalized resurfaced,? Mark Pervan, senior commodity strategist at Australia and New Zealand Banking Group Ltd., wrote in a note today.
The dollar strengthened for a second day against a six- currency basket including the yen, before trading little changed. The Bank of Japan cut the overnight call rate target, reducing borrowing costs for the first time since 2008, and policy makers plan to set up a 5 trillion yen ($60 billion) fund to buy state bonds and other assets. A panel appointed by the Swiss government said yesterday that UBS AG and Credit Suisse Group AG should almost double the capital required under Basel III rules.
The economies of Europe, Japan and the U.K. will have trouble picking up, according to Pacific Investment Management Co., which runs the world?s biggest mutual fund. The Federal Reserve will probably increase Treasury purchases to revive a U.S. economy that is almost stalled, Paul McCulley, a portfolio investor at Pimco, wrote on the company?s website.
Cancelled Trades
Aluminum in London fell 1 percent to $2,340 a ton at 3:16 p.m. in Singapore. The London Metal Exchange canceled 220 lots of the three-month contract traded just after the open of its Select electronic trading system at 8 a.m. Singapore time, the bourse?s help desk said by phone. The metal tumbled as much as 3.3 percent from the previous settlement to $2,286 a ton during that 21 second period after the open.
Zinc dropped 0.4 percent to $2,220.75 a ton, lead was 0.6 percent lower at $2,263.25 a ton, and nickel declined 1.2 percent to $23,848 a ton. Tin was unchanged at $25,200 a ton, just $300 off the record $25,500, which was reached May 15, 2008.
?Accelerating weakness in the U.S. currency, driven by fears of renewed quantitative easing to confront sluggish U.S. growth, is proving to be a boon to commodity markets,? Morgan Stanley metals and mining analysts led by Peter Richardson said. Gains will be supported by ?resilient growth in emerging markets,? they said.
Gold prices are expected to average $1,315 an ounce, 14 percent higher than Morgan Stanley?s previous forecast, and copper $3.80 a pound, up 10 percent. Iron-ore prices are set to trade next year at $135 a ton, unchanged on the bank?s previous forecast, and up from an average $122 a ton for this year.
?Despite some persistent market concerns about the strength of demand for steel-making raw materials in 2011-12, and fears regarding the growth in new capacity over this timeframe, especially in iron ore, our fundamental analysis highlights continued strength in premium products,? Morgan Stanley said.
Seaborne markets will struggle to provide sufficient supply to match anticipated growth in steel production, at least until 2012, it said.
Other companies Morgan Stanley favored were Kobe Steel Ltd., Impala Platinum Holdings Ltd., Tata Steel Ltd., Posco and Fortescue Metals Group Ltd.
Copper prices fell the most in three weeks as the dollar rebounded, reducing the appeal of commodities as alternative investments.
The greenback rose as much as 0.6 percent against a basket of six major currencies. Copper has gained 27 percent since July 1 as inventories dropped and the dollar slumped. On Oct. 1, the metal reached $3.722 a pound in New York, the highest level since July 30, 2008.
?Copper is floating a little on the stronger dollar,? said Frank McGhee, the head dealer at Integrated Brokerage Services in Chicago. ?We?re seeing some technical profit- taking.?
Copper futures for December delivery slid 2.65 cents, or 0.7 percent, to close at $3.664 a pound at 1:20 p.m. on the Comex, the biggest loss for a most-active contract since Sept. 10.
Stockpiles monitored by the London Metal Exchange rose for the first time in six sessions. Orders to withdraw copper from inventories slid for the ninth straight session, the longest slump since May 11.
The metal may resume its rally, reaching $3.80 in eight to 10 days, McGhee said. Demand in China, the world?s largest consumer, is ?underpinning the market,? he said.
In London, copper for delivery in three months dropped $36, or 0.4 percent, to $8,064 a metric ton ($3.66 a pound).
Lead also fell on the LME. Aluminum, nickel and tin rose, while zinc was little changed.
Copper dropped for a second day as as Japan expanded stimulus measures, weakening the dollar, and on concern that the European debt crisis will be prolonged. Tin traded within 1.2 percent of an all-time high.
Copper for three-month delivery on the London Metal Exchange fell as much as 0.5 percent to $8,022 a metric ton and traded at $8,030 at 3:19 p.m. in Singapore. The December delivery contract on the Comex in New York lost as much as 0.5 percent to $3.646 a pound. The Shanghai Futures Exchange is closed till Oct. 7 for the National Day holiday.
Copper fell as ?a stronger U.S. dollar and concerns that Europe?s major banks are undercapitalized resurfaced,? Mark Pervan, senior commodity strategist at Australia and New Zealand Banking Group Ltd., wrote in a note today.
The dollar strengthened for a second day against a six- currency basket including the yen, before trading little changed. The Bank of Japan cut the overnight call rate target, reducing borrowing costs for the first time since 2008, and policy makers plan to set up a 5 trillion yen ($60 billion) fund to buy state bonds and other assets. A panel appointed by the Swiss government said yesterday that UBS AG and Credit Suisse Group AG should almost double the capital required under Basel III rules.
The economies of Europe, Japan and the U.K. will have trouble picking up, according to Pacific Investment Management Co., which runs the world?s biggest mutual fund. The Federal Reserve will probably increase Treasury purchases to revive a U.S. economy that is almost stalled, Paul McCulley, a portfolio investor at Pimco, wrote on the company?s website.
Cancelled Trades
Aluminum in London fell 1 percent to $2,340 a ton at 3:16 p.m. in Singapore. The London Metal Exchange canceled 220 lots of the three-month contract traded just after the open of its Select electronic trading system at 8 a.m. Singapore time, the bourse?s help desk said by phone. The metal tumbled as much as 3.3 percent from the previous settlement to $2,286 a ton during that 21 second period after the open.
Zinc dropped 0.4 percent to $2,220.75 a ton, lead was 0.6 percent lower at $2,263.25 a ton, and nickel declined 1.2 percent to $23,848 a ton. Tin was unchanged at $25,200 a ton, just $300 off the record $25,500, which was reached May 15, 2008.
Gold prices Commodity Market as Investor Interest
Written By mine on Jumat, 17 September 2010 | 01.58
Gold commodities market sentiment was helped by the euro, which rose broadly on Thursday, hitting one-month highs versus the dollar and the yen, after a Spanish bond auction produced lower average yields than previously. Spot gold was bid at $1,276.85 a troy ounce at 1119 GMT (7:19 a.m. EDT) compared with $1,265.65 an ounce at the close on Wednesday. Earlier on Thursday it hit a record $1,277.05 an ounce and many expect it will hit $1,300 very soon.
Quantitative easing is normally a process by which central banks attempt to pump money into the economy by buying bonds. Excess liquidity could lead to too much money chasing too few goods or services resulting in price pressures. One potential trigger could be the conclusion of a meeting of the U.S. Federal Reserve on September 21, when the central bank could announce further quantitative easing to stave off economic slowdown in the world's largest economy.
Investor interest can be seen in the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust (GLD.P), which said its holdings fell to 1,294.746 tonnes by September 15 from 1,298.698 tonnes on September 14. Spot platinum was bid at $1,608.00 an ounce from $1,604.50 at the close on Wednesday when it touched a four-month high of $1,619.50. Palladium was at $554.50 at $553.78. Positive macro data is also partly behind the run higher in industrial precious metals such as silver, platinum and palladium. Spot silver was bid at $20.74 an ounce from $20.49 late on Wednesday.
There's still no real confidence in the U.S. recovery. No one sees any real reason for gold prices to decrease, said Gwenael Chazal, head of Metal Trading. U.S. consumer prices for August due on Friday could also spark a rally, which could take gold to $1,300 an ounce.
Quantitative easing is normally a process by which central banks attempt to pump money into the economy by buying bonds. Excess liquidity could lead to too much money chasing too few goods or services resulting in price pressures. One potential trigger could be the conclusion of a meeting of the U.S. Federal Reserve on September 21, when the central bank could announce further quantitative easing to stave off economic slowdown in the world's largest economy.
Investor interest can be seen in the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust (GLD.P), which said its holdings fell to 1,294.746 tonnes by September 15 from 1,298.698 tonnes on September 14. Spot platinum was bid at $1,608.00 an ounce from $1,604.50 at the close on Wednesday when it touched a four-month high of $1,619.50. Palladium was at $554.50 at $553.78. Positive macro data is also partly behind the run higher in industrial precious metals such as silver, platinum and palladium. Spot silver was bid at $20.74 an ounce from $20.49 late on Wednesday.
There's still no real confidence in the U.S. recovery. No one sees any real reason for gold prices to decrease, said Gwenael Chazal, head of Metal Trading. U.S. consumer prices for August due on Friday could also spark a rally, which could take gold to $1,300 an ounce.
Gold Commodity Prices losing 2 US dollars at Index
Written By mine on Selasa, 14 September 2010 | 02.05
Gold commodity price traded as high as $1,251 and as low as $1,242.30 during Monday's session. The U.S. dollar index was losing 1.15% to $81.92 while the euro was up 1.48% to $1.28 vs. the dollar. The spot gold price Monday was losing more than $2, according to Kitco.
Gold prices are looking rangebound until a catalyst can push them either past their record intraday high of $1,266 an ounce or below their $1,240 support area. Prices fell 0.32% last week but did manage a record close of $1,259 an ounce. Investors were also cheered by the report that China's industrial production grew 13.9% in August from a year earlier. Economists anticipated that China will grow 10% in 2010, but many analysts were worried China could slow from that level. China is credited with leading the global economic recovery with its strong housing market and demand for raw material. Any slowdown would be felt in exports across the globe. The data was encourging and also led investors away from the safety of gold.
Commodity of Gold for December delivery closed 60 cents higher at $1,247.10 an ounce at the Comex division of the New York Mercantile Exchange.Risk appetite improved modestly Monday, which was no help to gold prices, as Basel III financial reform buoyed stocks. Although the reform must still be ratified by the Group of 20 wealthy nations, global big banks will have six years starting in 2013 to increase their Tier 1 capital ratios to 7% from 4%.
Gold prices are looking rangebound until a catalyst can push them either past their record intraday high of $1,266 an ounce or below their $1,240 support area. Prices fell 0.32% last week but did manage a record close of $1,259 an ounce. Investors were also cheered by the report that China's industrial production grew 13.9% in August from a year earlier. Economists anticipated that China will grow 10% in 2010, but many analysts were worried China could slow from that level. China is credited with leading the global economic recovery with its strong housing market and demand for raw material. Any slowdown would be felt in exports across the globe. The data was encourging and also led investors away from the safety of gold.
Commodity of Gold for December delivery closed 60 cents higher at $1,247.10 an ounce at the Comex division of the New York Mercantile Exchange.Risk appetite improved modestly Monday, which was no help to gold prices, as Basel III financial reform buoyed stocks. Although the reform must still be ratified by the Group of 20 wealthy nations, global big banks will have six years starting in 2013 to increase their Tier 1 capital ratios to 7% from 4%.
