Results tagged “gold bull market” from Capital Gold Group, Inc.
Thursday July 24 2008 15:32 IST
"There is a huge demand... in the last couple of days alone 10 tonnes may have been sold all over
Foreign gold, that guides the local market, rebounded from a two-week low on bargain hunting as crude oil stabilized after steep drops from its all-time highs this month.
Gold generally tracks crude oil as the latter signals inflation, while the metal negates it.
Investors, women and jewellers were thronging Zaveri Bazaar to buy gold, said Jitendra Kantilal of Jugraj Kantilal & Co, a prominent trader in Mumbai's Zaveri Bazaar.
"They are buying coins and bars... mostly 100 gram bars for investment," said Kantilal.
But consumers haven't given up hopes of more dips, said D.P. Naresh, a wholesaler in
"There is a lot of appetite for prices at lower levels," said Naresh. "At $915 an ounce, there would be huge interest."
Capital Gold Group, gold group, gold, gold bars, gold bull market, gold prices, gold news, gold coins, gold bullion, India gold demand, silver, The Capital Gold Group
2008/7/3 2:46:07
Gold is likely to regain $1,000 per ounce by the end of 2008
and to work higher through 2009-2010, Citigroup has forecast.
In its recent Gold Commodity Update, Citigroup metals analysts, John H. Hill
and Graham Wark also predicted that “gold is capable of doubling or tripling
from current levels.”
The analysts said “secular and seasonal factors favor gold” during the second
half of this year.
“We remain positive on gold, based on macro and supply/demand factors. The
forces that have propelled gold for 5 years are firmly in place,” they stated.
During the second quarter of this year, gold has averaged $896 per ounce, up 34
percent from the same quarter of 2007 and down 3 percent from the first quarter
of this year.
“Following a series of downside fundamental tests gold appears to have found a
floor, and quietly climbed back to $917per ounce. We believe the drivers of the
gold bull market remain intact, heading into a favorable period,” analysts
added.
As at yesterday, the price of gold stood at $940.900 per ounce. Gold prices
increased by more than 30 percent in 2007. Gold has generated
positive returns of 43 percent over the last year and 11 percent year to date
in 2008.
Capital Gold Group, gold group, gold, gold prices, gold news, gold coins, gold bullion, gold IRA, IRA gold
By Pham-Duy Nguyen
April 2 (Bloomberg) -- Gold rose in New York for the first time in a week on speculation the dollar's rally against the euro will stall. Silver also gained.
The dollar was little changed against the euro after gaining 1.1 percent yesterday. The U.S. currency fell 7.6 percent in the first quarter, touching an all-time low against the euro, as gold gained 10 percent, reaching a record $1,033.90 an ounce on March 17.
``Gold depends on the direction of the dollar,'' said Frank Lesh, a trader at FuturePath Trading LLC in Chicago. ``Everyone is wondering if this is the end of the dollar rebound.''
Gold futures for June delivery rose $6.20, or 0.7 percent, to $894 an ounce at 11:06 a.m. on the Comex division of the New York Mercantile Exchange.
Silver futures for May delivery rose 19.5 cents, or 1.2 percent, to $17.085 an ounce on the Comex. The price rallied 16 percent in the first quarter.
Federal Reserve Chairman Ben S. Bernanke today told Congress the economy may contract in the first half. The Fed has cut interest rates six times since September as a housing slump and a credit crisis threatened to push the economy into a recession.
``If the economy looks weaker than expected, then we're going back up with these commodities,'' Lesh said.
The UBS Bloomberg Constant Maturity Commodity Index of 26 raw materials has dropped 8.4 percent from a record on Feb. 29.
Gold has climbed for seven straight years as rising commodity costs and a weaker dollar boosted demand for the precious metal as a hedge against inflation.
Inflation Accelerates
Gold rose 31 percent last year as consumer prices climbed the most since 1990 and the dollar fell 9.5 percent against the euro.
Still, the metal has tumbled 14 percent from the highest ever. Investment demand in the StreetTracks Gold Trust, the biggest exchange-traded fund backed by bullion, has fallen 3.3 percent to 642 metric tons from a record 663.8 tons on March 17.
``The bulls may attempt a push back to higher levels as the week closes out,'' said Jon Nadler, a senior analyst at Kitco Minerals & Metals Inc. in Montreal. ``There are no guarantees, however. Sentiment has been shaken and stirred across the board in commodities.''
Gold Group, Capital Gold Group, gold, gold prices, gold demand, gold bull market, U.S. Dollar, weak dollar, gold bullion, spot gold, exchange-traded fund, silver, gold futures
by Polya Lesova
Last update: 2:49 p.m. EDT March 31, 2008
NEW YORK (MarketWatch) -- Pressured by a firmer dollar, gold futures finished down sharply on Monday and for the month of March, but the precious metal advanced 10.3% during the first quarter.
Capital Gold Group, gold, gold prices, gold demand, gold bull market, dollar bear market, four digit gold, U.S. Recession, inflation, gold investments, silver investments, precious metals, gold futures, New York Mercantile Exchange, gold consolidation
Dollar's temporary "come-back" creates strong buying opportunity in gold.
Capital Gold Group, gold, gold prices, gold demand, gold futures, gold bull market, dollar bear market, four digit gold, U.S. Recession, inflation, gold investments, silver investments, platinum, precious metals, gold futures, New York Mercantile Exchange, gold consolidation
