Results tagged “gold investments” from Capital Gold Group, Inc.
12:27 PM EDT April 7, 2008by Polya Lesova, MarketWatch
NEW YORK (MarketWatch) -- Gold futures rallied along with other commodities Monday, as worries about the health of the U.S. economy drove investment demand for the precious metal.
Gold for June delivery rose $17 at $930.20 an ounce on the New York Mercantile Exchange.
"I believe you're seeing a flow back into gold and commodities as
Friday's data reminded us once more that we are not out of the woods
and things are due to get worse before they get better," said Zachary
Oxman, a senior trader at Wisdom Financial.
"The tone you will find
this week is one of strength, moving gold back to the mid 900's," Oxman
said. "The market will benefit from continued builds to the long side."
The Reuters-Jefferies CRB index, a benchmark barometer gauging the prices of major commodities, surged 1.6%.
On Friday, gold closed with a modest gain, as the dollar slipped
following a report that March employment declined more than expected,
another sign that the U.S. economy may have gone into a recession.
The Labor Department
reported that nonfarm payrolls fell by a steeper-than-expected
estimated 80,000, the largest decline since March 2003. For the week,
however, gold futures posted a loss of $23.30.
"Friday's data again
served to create recessionary fears in the U.S., and will continue to
draw interest from longer-term investors looking to offset
recessionary/inflationary fears, and factor in some form of safe-haven
protection," James Moore, an analyst at TheBullionDesk.com, wrote in a
research note.
"In the short term, though, we expect gold to remain in a volatile mood," Moore added.
On the currency markets, the U.S. dollar was higher against major
counterparts, finding support as Asian equity markets started the week
on a positive note. The dollar index, which tracks the performance of
the greenback against other currencies, gained 0.3% at 72.16.
The firmer tone in equities translated into renewed risk appetite for
higher-yielding currencies, analysts said, in turn pressuring
low-yielding units such as the Japanese yen and the Swiss franc.
Also on the Nymex, May
silver futures gained 41 cents at $18.16 an ounce and July platinum
futures rose $16.30 at $2,046.80 an ounce.
June palladium futures surged $16.60 at $461 an ounce, and May copper futures gained 4 cents to $4 a pound.
Capital Gold Group, Gold Group, IRA Gold, Gold IRA, Gold coins, gold prices, gold, gold bullion, gold investments
Capital Gold Group, Gold Group, IRA Gold, Gold IRA, Gold coins, gold prices, gold, gold bullion, gold investments
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.
On Monday, gold for June delivery ended down $15, or
1.6%, at $921.50 an ounce. For March, gold lost $50.60 or 5.2%. But for
the first quarter, the precious metal still gained $86.60, or 10.3%.
Gold futures for June
delivery dropped $8 to $928.50 an ounce on the New York Mercantile
Exchange. Other metals also declined, and crude-oil futures tumbled
4.7%.
James Moore, an analyst at TheBullionDesk.com, wrote in a note that
gold's failure to "break above $951 Friday was interpreted as a
short-term sell signal, and suggests further consolidation is necessary
before gold can reclaim $1,000."
On Friday,
gold futures dropped $18.20 to end at $930.60 an ounce, though gold
posted a gain of $10.60 for the week.
"Gold remains in a
range between $905 and $955, but gold's higher weekly close is
constructive from a technical point of view," said Mark O'Byrne,
executive director at Gold and Silver Investments, in a research note.
"The weakening U.S.
economy is obviously dollar bearish and conversely it is gold bullish,
but more consolidation may be necessary before we get above the
four-digit price again," he said. . . .
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
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.
Gold for June delivery tumbled $41.80, or 4.5%, to $879.70 an ounce on the New York Mercantile Exchange.
Other metals futures were also sharply lower, with platinum selling off 7%.
The Reuters-Jefferies CRB index, a benchmark barometer gauging the
prices of major commodities, fell 1.7% to 380.47.
"Everything
from cotton to copper and soybeans to silver is off sharply," said Jon
Nadler, senior analyst at Kitco Bullion Dealers. "The ever-weakening
dollar had prompted many a fund to pile money into the sector since
September last year, pushing values of some commodities well beyond
fundamentals."
"But now, as the dollar
is staging somewhat of a comeback, even if a temporary one, the niche
is being drained of money quite fast," Nadler said.
With perceptions that
the credit freeze might be thawing, hedge funds appear to be turning
away from until now ultra-hot commodities, he said.
Zachary Oxman, senior
trader at Wisdom Financial said: "You're seeing heavy selling pressure
and significant technical damage [in gold prices]."
"I'd look for further selling into the $870 level at this time," Oxman said.
Culminating a tumultuous quarter, the benchmark gold contract lost $15,
or 1.6%, to end Monday's trading back at $921.50 an ounce.
For March as a whole,
gold futures lost $50.60 -- a drop of 5.2%. But for the first quarter,
the precious metal still turned in a stellar performance, gaining
$86.60 an ounce, a 10.3% increase.
"Given gold's recent
movements, the yellow metal will remain vulnerable to selling pressure
in the coming sessions," said James Moore, analyst at
TheBullionDesk.com.
In a research note,
Moore cited how the second quarter's "traditionally weaker than the
first due to general market cycles."
The dollar extended
gains Tuesday after the Institute for Supply Management's manufacturing
index unexpectedly inched higher to 48.6% in March from 48.3% in
February. The euro was already under selling pressure after earlier
news that Swiss banking giant UBS announced a further $19 billion
wrote-down.
The dollar index, which
tracks the performance of the greenback against a basket of other major
currencies, soared 1.1% to 72.69.
Platinum tumbles 7%
Led by platinum, other metals futures also posted sharp losses on the
Nymex. July platinum futures tumbled $144.60, or 7%, to $1,898.80 an
ounce.
May silver futures fell
88 cents, or 5%, to $16.43 an ounce and June palladium fell $23.70, or
5%, to $426.50 an ounce. May copper futures dropped 10 cents, or 3%, to
$3.73 a pound.
Crude-oil futures also dropped sharply.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
Sunday March 30, 8:05 pm ET
LOS ANGELES, March 30 /PRNewswire/ -- Capital Gold Group sponsored the "Financial Advisors Annual Conference" in the Malaysia capital of Kuala Lumpur, Registered Financial Advisors from China, Hong Kong, Thailand, India, Taiwan, Singapore and Indonesia attended the event. Physical gold as a "safe-haven" in the current world economic crisis is very popular in Asia, as the Chinese government has opened the Shanghai Gold Exchange and eased laws restricted gold ownership. According to the World Gold Council, China has overtaken the country of S. Africa as the world's largest Gold producer. India holds the record as the largest "consumer" user of Gold.
The Capital Gold Group is initiating opportunities in China to co-venture with existing gold producers and distributors to bring "Asia Gold" to the general investor. The "Asia Gold Tour" is an alliance with agents from countries throughout Asia to bring investor grade gold into emerging economies.
For advisors, The Capital Gold Group in association with HSBC (The Hong Kong and Shanghai Banking Corporation) is currently negotiating a special "Financial Advisors Gold" program for physical gold storage and delivery in Asia. The Hong Kong and Shanghai Banking Corporation Limited was established in 1865 to finance the growing trade between China and Europe and is one the largest banks in the world.
With Gold Prices reaching new historical highs, investors are flocking to gold as a safe-haven amid inflation fears and global uncertainty, including the worldwide sub-prime mortgage crisis. Investors in China and other Asian countries are diversifying with physical gold investments as a hedge against the inflationary pressures on the booming Chinese economy.
In China, the Shanghai Gold Exchange and the Shanghai Futures Exchange are reporting new record volumes of gold investment activity amid rising gold prices worldwide. Jonathan Rose, CEO of Capital Gold Group, is a recognized speaker for worldwide gold markets, including Hong Kong, Singapore, China, Europe and the USA.
Capital Gold Group, gold, gold prices, gold investments, safe-haven, inflation hedge, physical gold investments, sub-prime mortgage crisis
