Market Information
22-02-2012
India gold imports may decline, gold trading volumes rise in London
U.S. dollar gold bullion prices spiked to $1747 an ounce Tuesday lunchtime in London – a 1.3% gain on last week's close – as US Markets re-opened to the news that European finance leaders have agreed to bail out Greece.
Silver bullion also spiked, hitting $33.97 per ounce – 1.9% up on the start of the week.
European stock markets by contrast drifted lower in Tuesday morning trading, while the Euro gave back most of the gains it made against the Dollar immediately after the Greek deal was announced. Commodities edged higher, while US Treasuries fell.
Greece's €130 billion second bailout was finally approved in the early hours of Tuesday morning, following a day of discussions among Eurozone finance ministers in Brussels.
The European Central Bank will pass on profits...
22-02-2012
Oil Trades Near Nine-Month High After Iran Denies Access to UN Inspectors
Oil traded near a nine-month high after United Nations inspectors in Iran were denied access to a suspected nuclear site, raising concern that tensions between OPEC’s second-biggest producer and Western nations may escalate.
Futures...
22-02-2012
Euro-Area Manufacturing, Services Unexpectedly Contract
European services and manufacturing output unexpectedly shrank in February as the euro-area economy struggles to rebound from a contraction in the fourth quarter.
A euro-area composite index based on a survey of purchasing managers in...
21-02-2012
China's Xinjiang produces record 12.1 tons of gold last year
China's largest province, Xinjiang, situated in the northwest of the country, produced 12.1 tons of gold last year, a new record.
According to Gold Administration Bureau of Xinjiang, last year's output increased by 15.18 percent from...
21-02-2012
Gold Imports by India Seen Falling on Prices
Gold imports by India (INMOGOLD) are poised to decline for the first time in three years as rising prices deter jewelry buyers and investors, potentially allowing China to overtake the country as the world’s largest consumer....
21-02-2012
Euro Advances to 3-Month High Versus Yen on Greek Bailout; Aussie Declines
The euro climbed to a three-month high against the yen after euro-area finance ministers agreed to award Greece a second bailout package to stave off a default next month.
The 17-nation currency was little changed against the dollar...
21-02-2012
Europe Picks Greek Aid Over Default
Debt-stricken Greece won a second bailout after European governments wrung concessions from private investors and tapped into European Central Bank profits to shield the euro area from a precedent-setting default.
Finance ministers...
21-02-2012
Euro Finance Ministers Said to Reach Agreement on Greek Bailout
Euro-area finance ministers reached agreement on a second bailout package for Greece that is vital to staving off a default next month.
The deal includes a 53.5 percent writedown for investors in Greek bonds, Luxembourg’s Jean-Claude...
20-02-2012
China to become largest diamond buyer by 2016
As China all set to become the largest gold consumer in the World, Diamonds are also expected to play a major contribution.
According to Antwerp World Diamond Center, China will overtake the United States to become the Antwerp's biggest...
20-02-2012
Commodities Extend Rally on Greek Deal Optimism, China’s Bank Reserve Cut
Commodities gained for a fourth day after China cut banks’ reserve requirements and speculation increased that euro-area governments are set to agree on a deal to release a second bailout for Greece, hurting the dollar.
Oil rose as...
20-02-2012
Speculators Boost Bullish Wagers to Highest Since September: Commodities
Hedge funds increased commodity bets to the highest in almost five months on signs that a rescue plan for Greece and faster U.S. growth will buoy demand as supplies shrink for everything from soybeans to copper.
Money managers boosted...
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