Gold prices closed higher for the week on the Comex Division of the New York Mercantile Exchange, hit a three week high in intraday, mainly on weak US employment report that hit the dollar. The most active gold contract for December delivery was up $6.0 , or 0.5 percent, to finish at $1,205.3 per ounce.
The lingering impact of August 3, 2010, clash on the Israeli-Lebanese border lies in the greater context of, and wider strategic dynamics in, the Middle East. These aspects were highlighted by HizbAllah Secretary-General Hassan Nasrallah in his speech later that day.
The ongoing Diggers and Dealers conference here addressed issues relating to global gold industry amid increasing demand.
The annual conference in the gold mining mecca of Kalgoorlie is Australia's biggest meeting of miners, prospectors, financiers, brokers and contractors.
In order to penetrate further into retail segment of the commodities investors, National Spot Exchange Limited (NSEL) will launch copper and nickel contracts under its electronic spot trading E-series by the end of August, 2010.
Gold prices held just below $1,200 an ounce in Europe on Friday, little changed from the previous session, as the dollar stayed in a holding pattern ahead of hotly awaited U.S. non-farm payrolls data later in the day.
India and China, the power engines of the East, are now the force behind the rising gold demand. If Chinese and Indian customers stop buying the yellow metal, the bullion market will collapse within days. So much is the power of rising middle class in China and India that they are rising in both number and percentage terms dramatically, as these nations are developing on every front.
Crude oil traded near $82 a barrel on Friday before a report expected to show U.S. employment declined in July, as investors watch for clues to the pace of economic and energy demand recovery.
The return of crude's inverse correlation with the U.S. currency has been supporting oil, which has recently failed to track stock markets lower, analysts said. European stocks were little changed on Friday.
Gold prices advanced towards its biggest weekly gains in two months as traders await a key US data for more clues.
Gold for immediate delivery was seen trading at $ 1195.43 an ounce at 12.00 noon Singapore time while U.S. gold futures for December delivery was at $1198 an ounce. on the comex division of Nymex
Crude oil prices were steady on Friday near $82 before a report expected to show U.S. employment declined for a second straight month in July, as investors watch for clues to the pace of economic and energy demand recovery.
Gold retreated on Thursday, easing from earlier highs near $1,200 an ounce, as the dollar pared losses against the euro after Wall Street equities opened lower in jittery trade ahead of Friday's U.S. payrolls data.
Oil prices slipped again on Thursday as doubts about the energy demand outlook grew after a jump in U.S. jobless claims and U.S. government data showing rising stockpiles of refined products.
The dollar was stronger after midday in a seesaw session, but the greenback's early weakness helped limit losses for crude futures, as did expectations of technical support for crude above $81 a barrel.
Wheat markets raced to fresh highs on Thursday, with Chicago wheat trading limit-up, as Russia announced a halt to grain exports from next week in response to a drought that has withered crops.
Russia's worst drought on record has devastated crops in parts of the country and sent international grain prices soaring as markets have speculated on restricted supply from one of the world's leading exporters.
Oil prices fell for a second day on Thursday toward $82 a barrel after a jump in U.S. jobless claims and rising oil product inventories stoked doubts about the pace of fuel demand recovery in the top consumer.
Metal producers should steer clear of using forward prices to assess potential profitability of new projects or for budgeting purposes as this could lead to misleading conclusions.
Instead they could look at long-term price forecasts or use consultants. However, there are times when a producer without in-house research or unable to pay consultants, has little choice. In this case results should carry a health warning.
Slowly China is turning into a Gold's own country. Till now India boasted of its unchallenged gold power with the farmers and most of the 1 billion people buying the yellow metal on any religious or special occasions.
Gold held steady on Thursday after drop in prices from a 2-week high spurred light buying from jewelers in Asia, but firm stock markets were likely to weigh while holdings on the ETF fell slightly.
Investors await the release of more data from the United States, particularly the payrolls report, which will offer clues on the health of the economy. Friday's government report on jobs may show a drop of 65,000 in July as census jobs dried up.
Oil fell for a second day on Thursday, approaching $82, as dollar strength kept a lid on prices, neutralizing the effect of upbeat U.S. employment data and a drop in the nation's crude inventories last week.
Gold prices edged up in Asian trade Thursday but holdings on the ETF fell marginally.
Gold for immediate delivery was seen trading at $1194.77 an ounce at 12.00 noon Singapore time while U.S. gold futures for December delivery was at $1,196.5 an ounce on the comex division of Nymex.
Renowned model Naomi Campbell has been granted special protection when she testifies at a UN war crimes tribunal on Thursday over claims that she was given a blood diamond by Liberia's former president Charles Taylor.
The court ruled that no one may photograph or film the supermodel as she enters or exits the court building, or while she is in it. She will also have a lawyer on hand to make sure she does not say anything incriminating.
Gold held steady on bargain hunting on Thursday after prices slipped below $1,200 an ounce but firm stock markets were likely to weigh, and holdings on the ETF fell slightly.
Investors await the release of more data from the United States, particularly the payrolls report, which will offer clues on the health of the economy. Friday's government report on jobs may show a drop of 65,000 in July as census jobs dried up.
Oil fell for a second day on Thursday, approaching $82, as dollar strength kept a lid on prices, neutralizing the effect of upbeat U.S. employment data and a drop in the nation's crude inventories last week.
At the same time, U.S. stockpiles of gasoline and distillate fuels, including diesel, extended a string of gains, contributing to a mixed perception about the outlook for oil demand from the world's top consuming nation for the rest of the year.
The August 3, 2010, armed clash along the Israeli-Lebanese border was a significant strategic incident. On Thursday, July 29, 2010, Israel notified UNIFIL that a few Israeli soldiers would be crossing the security fence in order to cut a tree and remove a few shrubs in Israeli territory but near the Blue Line (the actual border between Israel and Lebanon). This foliage blocks the view of Israeli security cameras positioned deep inside Israel. Israel also notified UNIFIL that these soldiers would...
The benchmark U.S. crude oil price rose a touch on Wednesday, responding to official figures showing a higher than expected fall in crude stocks.
The optimism was, however, tempered by a rise in gasoline and distillate inventories.
Gold rose above $1,200 an ounce in Europe on Wednesday as a swell of fund buying put the price on track for its sixth successive daily gain.
A soft performance on the global equity market and expectations for a rise in Chinese demand were early drivers to the day's rally, although U.S. private sector jobs data pushed up the dollar and diffused some of gold's safe-haven appeal.
Finally, there is a silver lining for the once famous Kolar gold mines in Karnataka.
In a landmark verdict, the Karnataka high court has asked the Indian government to take all steps to revive Bharat Gold Mines Limited (BGML) in Kolar Gold Fields (KGF). The court also said no global tenders should be floated for the revival.
Slowly China is beating India in gold business and the Dragon land is making considerable progress in the yellow metal trade. As part of its strategy to expand the gold business, China has allowed more banks to import and export gold.
Oil fell on Wednesday for the first day in five as a rally that powered prices to three-month highs near $83 a day earlier lost steam, with little reaction to an attack on Iranian President Mahmoud Ahmadinejad.
Gold rose above $1,190 an ounce in Europe on Wednesday, benefiting from softer appetite for assets such as stocks and hopes for a rise in Asian demand, though an ongoing dearth of safe-haven demand capped gains.
Spot gold rose to a high of $1,197.05 an ounce, its strongest since July 23, and was bid at $1,194.95 an ounce at 5:37 a.m. ET versus $1,185.35 late in New York on Tuesday. U.S. gold futures for December delivery rose $9.60 to $1,197.10.
Oil fell on Wednesday for the first day in five as a rally that powered prices to three-month highs near $83 a day earlier lost steam, while industry data showed U.S. gasoline stockpiles rose unexpectedly last week.
Gold prices climbed in Asian trade Wednesday after reports said China, the world's largest gold producer, decided to expand its market.
Spot gold was seen trading at $1192.01 an ounce at 12.00 noon Singapore time while December-delivery futures was at $1195.30 an ounce on the Comex division on Nymex.
