Market Information
29-02-2012
Jewelers Want Platinum for Asians After Gold Vaults
Platinum is luring jewelers away from gold after investors’ purchases of bullion to escape market turmoil pushed prices to records.
Gold surpassed platinum as the most expensive metal used in jewelry in August for the first time since...
29-02-2012
Euro near 3-month high vs. dollar, expecting ECB boost
The euro traded close to a three-month high against the dollar on Wednesday ahead of an injection of cheap long-term funds from the European Central Bank that was expected to boost risk appetite and fuel short-term gains in the single...
29-02-2012
ECB offers banks second, maybe last, mega funds fix
The European Central Bank is expected to pump half a trillion euros into the euro zone's troubled financial system for the second time in as many months on Wednesday in what it hopes will be the last such operation to fight the euro zone...
28-02-2012
Gold’s Use to Back Value of Dollar Would be Impractical or ‘Even Damaging’
Gold’s use to back the value of the dollar would be impractical and there is little scope for the metal to play a more formal role in the international monetary system, U.K. research institute Chatham House said.
While a higher gold...
28-02-2012
Gold Advances for a First Day in Three as Weakening Dollar Stokes Demand
Gold gained for the first time in three days in London as a weaker dollar spurred demand for the metal an alternative investment.
The dollar declined versus the euro before the European Central Bank allots a second round of unlimited...
28-02-2012
Euro, shares firm ahead of ECB funding
The euro traded just below 12-week highs, stocks were firmer and safe-haven German bonds edged lower on Tuesday as the European Central Bank's upcoming liquidity injection supported prices and eclipsed concerns over Greece and the global...
28-02-2012
ECB temporarily suspends Greek bonds as collateral
The European Central Bank said on Tuesday it was temporarily suspending the eligibility of Greek bonds for use as collateral in its funding operations and that national central banks would have to provide banks with liquidity using an...
28-02-2012
S&P downgrades Greece to selective default
Standard & Poor's on Monday cut Greece's long-term ratings to 'selective default', the second ratings agency to proceed with a widely expected downgrade after the country announced a bond swap plan to lighten its debt burden.
S&P said...
27-02-2012
Bullish Futures Top 1 Million Contracts for First Time in ’12: Commodities
Bullish commodities futures rose above 1 million contracts for the first time in five months as U.S. growth prospects improved and Goldman Sachs Group Inc. predicted further price gains.
Hedge funds and money managers boosted combined...
27-02-2012
Germany Crisis Role in Focus After G-20 Rebuff
Germany was left to dig deeper to combat the euro-area debt crisis after the Group of 20 nations told Europe to come up with more financial firepower before they consider lending outside support.
The decision by G-20 officials to rebuff...
27-02-2012
Europe Focus Shifts to Debt-Crisis Firewall
European leaders will shift their focus this week from a Greek bailout to the prospect of bolstering the region’s firewall against debt-crisis contagion as they ready for their latest summit.
After lawmakers in Germany and Finland...
24-02-2012
Gold jumps 3-month high on options expiry
The price of precious metals rose further Thursday morning in London, pushing higher from last night's sharp jump in New York, with Dollar-priced gold trading at its highest level since mid-November above $1780 per ounce.
Physical gold...
24-02-2012
Copper Traders Most Bullish in Two Months as Hedge Funds Buy: Commodities
Copper traders are the most bullish in two months on speculation that demand will strengthen from the U.S. to China at a time when stockpiles monitored by the world’s biggest metals exchange are at a 2 1/2 year low.
Fourteen of 29...
24-02-2012
Barclays Advises Selling Euro on Potential LTRO Liquidity Shock Next Week
Barclays Capital advised selling the euro against the dollar and the Norwegian krone as funds provided by the European Central Bank in next week’s three-year longer term refinancing operation weigh on the currency.
“The chances of...
24-02-2012
European Stocks Climb, Snapping Three-Day Drop; Telecom Italia, BASF Rise
European stocks climbed, snapping a three-day decline, as companies from Telecom Italia SpA (TIT) to BASF SE (BAS) reported earnings. U.S. index futures and Asian shares advanced.
Telecom Italia, the country’s biggest phone company...
24-02-2012
Oil Heads for Longest Win Streak Since 2010
Oil advanced a seventh day, the longest winning streak since January 2010, on signs of economic recovery from the U.S. to Germany and concern escalating tension with Iran threatens crude supplies.
Futures climbed from the highest close...
23-02-2012
Central banks to retain pole position in gold rally
Global central banks switching from sellers to buyers of gold remained the major factor driving gold prices and the trend is likely to continue for some more time, observers said.
Central banks across the world were major suppliers of...
23-02-2012
Barrick’s Regent Says Gold Miners Losing Capital to ETFs
Barrick Gold Corp. (ABX) and Goldcorp Inc. (G), the world’s largest producers of the metal, are poised to outperform bullion after gold-mining companies fell to their cheapest in at least a decade, executives said.
Gold producers are...
23-02-2012
Euro-Region Economy Poised to Shrink in 2012 as Italy Contracts With Spain
Europe’s economy will shrink in 2012, with Italy and Spain facing sudden crunches as they battle to escape the debt crisis, the European Commission said.
The 17-nation euro economy will contract 0.3 percent, the commission said,...
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...
20-02-2012
European Stocks Climb Before Greek Bailout Decision; TNT Express Advances
European (SXXP) stocks rose, extending a six-month high, before euro-area finance ministers meet to discuss a Greek bailout and as China cut banks’ reserve requirements. U.S. index futures and Asian shares also advanced.
TNT Express...
20-02-2012
Japan, China to Help Europe Solve Crisis Via IMF
Japanese Finance Minister Jun Azumi said that his nation and China are committed to help resolve the European debt crisis through the International Monetary Fund once euro region members take further steps themselves.
“We shared the...
17-02-2012
Germany Seeks More Oversight in Greece Bailout
Optimism grew on Friday that Greece has finally done enough to secure a second bailout despite worsening relations with Germany, but doubts remained over lenders' demands for tighter supervision of how Athens will implement the deal....
17-02-2012
Germany Seeks to Avoid Two-Step Vote on Greek Aid
Germany wants euro-area finance chiefs to avoid splitting consideration of a 130 billion-euro ($171 billion) Greek rescue and a bond swap to cut the nation’s debt load at a meeting next week, coalition lawmakers were told.
As long as...
17-02-2012
Gold futures are very risky, invest in physical gold: MyGold
MyGold, Auckland Gold merchant, warns investors to consider the security of their investments in precious metals, on the grounds of an official investigation in to a bullion trading company this week.
Futures trading is simply...
16-02-2012
China to Surpass India as Biggest Gold Market This Year, Council Predicts
China, the world’s largest consumer of energy and base metals, is set to displace India this year as the biggest gold user on an annual basis as surging incomes drive increased demand for jewelry and investments.
Demand in China...
16-02-2012
European Stocks Drop on Greek Aid Delay, Moody’s Review; Banks Lead Losses
European (SXXP) stocks fell as the region’s leaders delayed a Greek bailout and Moody’s Investors Service said it may downgrade global banks. U.S. index futures and Asian shares also declined.
Banco Santander SA led losses after...
16-02-2012
Biggest Mining Deals No Promise of Gains for Xstrata Holders: Commodities
Shareholders in Xstrata Plc (XTA) shouldn’t expect that a takeover by Glencore International Plc (GLEN) will deliver a windfall if the history of the deals that created two of its biggest rivals is any guide.
Rio Tinto Group’s...
16-02-2012
Europe Demands More Greek Budget Controls
Europe’s creditor countries struggled to bridge divisions over a rescue of Greece, seeking more control over how future aid is spent as the clock ticked toward a possible default next month. Stocks and the euro fell.
In a replay of...
15-02-2012
Euro-Area Economy Contracts for the First Time Since 2009
Europe’s economy shrank less than economists forecast in the fourth quarter as a better-than- predicted performance in Germany and France helped mitigate the region’s first contraction since 2009.
Gross domestic product in the...
15-02-2012
US silver, gold production falls sharply in 2011, revenue soars
In 2011, US production of mined silver and gold fell sharply in 2011 hitting the lowest point in over twenty years but the industry revenue soared to new highs, according to a new report from IBISWorld.
In 2011, US production of mined...
14-02-2012
Enough reasons why top investors like silver
There's reasons for top investors like Geroge Soros, Warren Buffet and Bill Gates to invest heavily in silver, according to Mukesh Kothari, Director of Riddi Siddhi Bullions Ltd (RSBL), one of India's leading precious metal's dealers....
14-02-2012
European Stocks Fall on Moody’s Downgrades
European (SXXP) stocks declined, paring the Stoxx Europe 600 Index’s biggest rally in a week, after Moody’s Investors Service downgraded six euro-area countries, including Italy, Spain and Portugal. U.S. index futures and Asian...
14-02-2012
European Leaders ‘Confident’ Greece Meeting Bailout Demands
Germany and the European Commission welcomed Greek approval of the austerity steps demanded for a financial lifeline, suggesting euro finance chiefs will pull Greece back from the brink when they meet in two days.
The Greek...
14-02-2012
Bernanke Labor Pessimism Seen Misplaced as U.S. Expands in 2012
In his six years as Federal Reserve Chairman, Ben S. Bernanke has sometimes proved too sanguine about the U.S. economy, declaring the impact of bad subprime mortgages on the financial markets “contained” in 2007 and being too...
13-02-2012
Silver up above $34 on Greek austerity approval
Greece's approval to second bailout helped silver also as the white metal crossed $34 an ounce mark in global trade.
Analysts said the decision improved silver's attraction and safe haven appeal while precious metals buyers pushed the...
13-02-2012
Draghi $158B Free Lunch Boosts Bank Profits
Banks are benefiting from a European Central Bank subsidy that could reach 120 billion euros ($158 billion), enough to pay every bonus at financial firms in London for the next 24 years at today’s levels.
Royal Bank of Scotland Group...
13-02-2012
European Stocks Rise on Greek Plan Approval
European (SXXP) stocks advanced for the second time in three days after Greek lawmakers approved austerity measures needed to get the financial rescue the nation seeks. U.S. index futures and Asian shares also rose.
Mining shares led...
13-02-2012
Greece Bailout Faces European Finance Chiefs
European finance chiefs get the second chance in a week to pull Greece back from the brink of collapse after lawmakers in Athens approved the austerity measures demanded for a financial lifeline.
Greece “will be saved in one way or...
13-02-2012
Lew Says Infrastructure Spending Still Needed to Keep U.S. Economy Growing
White House Chief of Staff Jack Lew said hundreds of billions of dollars in spending for roads and bridges, education and manufacturing are necessary to keep the U.S. economy growing.
“Most Americans understand that a crumbling...
10-02-2012
A beginner's guide to investing in gold
Gold has been sought after for its unique blend of near indestructibility, beauty, rarity and because of its status as a means of exchange and universal currency par excellence for centuries.
Empires and nations have sought to possess...
10-02-2012
European Stocks Drop on Greece Impasse
European (SXXP) stocks fell for the fourth time in five days as the region’s finance ministers held back approval of a rescue package for Greece. U.S. index futures and Asian shares also retreated.
Barclays Plc (BARC) declined 2.8...
10-02-2012
Greece Rebuffed on Aid Over Austerity Vote
European finance ministers held back a rescue package for Greece in a rebuff that left lawmakers in Athens under government pressure to endorse a newly minted austerity plan or exit the euro.
“In short: no disbursement without...
09-02-2012
Gold edges up on China inflation data
Gold edged up Thursday after an overnight dip after reports said world's second largest economy, China's annual inflation rate climbed in january.
Gold for immediate delivery was seen trading at $1733.64 an ounce at 12.00 noon...
09-02-2012
Crude Increases a Third Day on U.S. Refining Gains, Progress in Greece
Oil climbed for a third day in New York as a U.S. government report showed refineries processed more crude last week and investors speculated Greece is closer to securing a second bailout.
Futures gained as much as 0.5 percent and...
09-02-2012
Greece Talks Stall as Venizelos Heads to Brussels
Greek Finance Minister Evangelos Venizelos heads to Brussels today after politicians failed to finalize new austerity measures needed to secure a 130 billion euro ($173 billion) bailout package.
Talks stumbled over the issue of pension...
08-02-2012
Diamond prices drop on aggressive Zimbabwe production
Diamond prices dropped marginally in January after Zimbabwe ramped up production at the four concessions in the Marange fields to more than 1 million carats per month.
Mining companies, manufacturers, wholesalers and retailers are...
08-02-2012
China May ‘Move Shortly’ on Aid for Europe, Academic Says
China may “move shortly” to help Europe resolve its debt crisis by providing an investment of as much as 100 billion euros ($132 billion), said Yuan Gangming, an economist at the Chinese Academy of Social Sciences.
The money would...
08-02-2012
Stocks Rise as Euro Rallies to Eight-Week High
Stocks climbed, with the MSCI All- Country World Index set to enter a bull market, and commodities extended the longest rally this year as Greek leaders worked on a rescue plan with creditors. Toyota Motor Corp. (7203) led automakers...
07-02-2012
Gold slightly up as Greek worries return
Gold gained marginally in Asian trade Tuesday as Greek debt concerns continued to influence the price of the yellow metal.
Gold for immediate delivery was seen trading at $1721.15 an ounce at 12.00 noon Singapore time while US gold was...
07-02-2012
Demand From Outside Euro Area: Economy
German factory orders rose more than economists forecast in December as demand from outside the euro area helped its largest nation weather the sovereign debt crisis.
Orders, adjusted for seasonal swings and inflation, rose 1.7 percent...
07-02-2012
India Predicts Weakest Growth Since 2009 as Pressure Mounts for Rate Cut
India’s government predicted the weakest economic expansion this year since 2009, adding pressure on the central bank to reduce interest rates.
Gross domestic product will probably rise 6.9 percent in the 12 months through March from...
07-02-2012
Papademos Seeks Greek Consensus on Cuts
Greek Prime Minister Lucas Papademos plans to convene the nation’s political leaders to seek consensus on the cuts required for a bailout as unions called a strike to protest and European leaders pressed for answers.
While Papademos...
06-02-2012
Who’s been buying all the gold?
Who’s been buying all the gold?
Gold bears often argue that the gold market is now at the mercy of demand from speculative investors, who have piled into exchange-traded funds (ETFs), chasing gold higher. The danger is that if the...
06-02-2012
Europe Leaders Maintain Pressure on Greece
European leaders maintained pressure on Greece to accept terms demanded by international lenders during a weekend of talks to avert a financial collapse.
Interim Greek Prime Minister Lucas Papademos struck a tentative deal with party...
06-02-2012
Era of Falling Food Prices Comes to End as World Population Adds 2 Billion
The era of falling food prices has come to an end with the world population set to add another 2 billion people, according to Cargill Inc., the U.S. farm commodities trader.
The United Nations’ Food and Agriculture Organization has...
06-02-2012
China Risks 4-Point Growth-Rate Cut in Case of Europe Worsening: Economy
China’s economic expansion would be cut almost in half if Europe’s debt crisis worsens, a scenario that would warrant “significant” fiscal stimulus from the nation’s government, the International Monetary Fund said.
Based on...
06-02-2012
Euro Markets Rebound on Draghi-Merkel Policies
Investors are buying what Mario Draghi and Angela Merkel are selling.
Bloomberg indexes of Europe’s banks and financial conditions are the highest since August, and money-market lending rates and bond yields from Italy to Spain are...
02-02-2012
ECB May Hold Out on Greek Swap Until Investor Deal Reached on Debt Burden
The European Central Bank is likely to refuse to show its hand on how it will help cut Greece’s debt burden until investors and the government have agreed to a deal, said economists from ING Group to Deutsche Bank.
While Greece’s...
02-02-2012
Deutsche Bank Profit Tumbles as Debt Crisis Curbs Trading
Deutsche Bank AG (DBK), Germany’s largest bank, reported a 76 percent drop in fourth-quarter profit as Europe’s sovereign-debt crisis curbed trading and the company booked writedowns on holdings. The shares declined.
Net income fell...
02-02-2012
China produces 360.96 tons of gold in 2011
According to China Gold Association, Shandong remained the top China Province in gold production followed by Henan Province, Jiangxi Province, Fujian Province and the Inner Mongolia Autonomous Region.
World's largest gold producer...
02-02-2012
Iran gold sector nosedives on sanctions
Western sanctions hit the sector hard as transactions of gold items even in the Middle East were restricted especially after the Euro zone imposed ban on gold trading with Iran.All of a sudden, Iran's gold industry looked bleak and is on...
01-02-2012
IMF's Thomsen Says Greece Must Step Up Reform
Debt-laden and recession-hit Greece must accelerate structural reforms and slow down on deficit reduction, the head of the IMF's inspection team for Greece was quoted as saying on Wednesday.
Austerity policies imposed on Greece in...
01-02-2012
Europe Blocks NYSE and Deutsche Boerse Merger
The European Commission blocked a merger between Deutsche Boerse and NYSE Euronext, Deutsche Boerse said Wednesday in a statement.
The European Commission wanted Deutsche Boerse [DB1 45.515 0.705 (+1.57%) ] and the NYSE [NYX...
01-02-2012
Iran claims to have 907 tons of gold in reserves
Earlier, Central Bank of Iran said country's foreign exchange reserves have doubled in a short time as it rose by $10 billion and assures that the country have sufficient gold reserves for 10 years.
Sanctions hit Iran reiterated it's...
01-02-2012
After banks gold, Vietnam urged to mobilize public gold
The new proposal, aimed to boost socio-economic development of the country was made by the State Bank of Vietnam.
HANOI: After being urged to utilize idled gold in banks across the country, Vietnam government is now considering a...
01-02-2012
Silver off to perfect start with 20% gain in January
Analysts said a decisive break over $33.70 would signal an upside extension towards $35.70 range highs. The medium-term outlook is neutral.
LONDON: Silver got off to a colourful start for 2012 as the white metal gained nearly twenty...
