Gold buying has intensified on the late-June/early July sell offs and capitalising on this fall were the Asian investors, jewelry manufacturers and possibly a few central banks, according to Jeffrey Nichols, Senior Economic Advisor to Rosland Capital.
Gold rose to hold above $1,200 an ounce on Thursday on steady purchases from jewelers and other physical buyers after a recent drop to a six-week low, while sentiment was also lifted by gains in equities markets.
The government is launching a program nicknamed Perfect Citizen to detect cyber assaults on private U.S. companies and government agencies running critical infrastructure such as the electricity grid and nuclear power plants, the Wall Street Journal said in its online edition, citing people familiar with the program.
Gold recovered in afternoon trade on Wednesday, but a firmer dollar and a report that China would not make gold a major part of its reserves undermined sentiment.
Physical interest in the metal at lower prices and strong chart support after its recent correction helped limit early losses, analysts said.
Gold prices dropped toward $1,220 an ounce on Thursday, caught up in selling of other assets like equities and industrial commodities after U.S. economic data disappointed the financial markets.
The metal is expected to extend its recent gains in the medium term, however, after outperforming most other commodities and all other metals in the second quarter as investors turned to bullion as a haven from risk in the wider markets.
Gold steadied in Europe on Wednesday, giving up early gains, after relatively low demand at the European Central Bank's latest bank refinancing operations eased some concerns over euro zone bank finances.
WellPoint Inc has warned some 470,000 people who applied for its health insurance that a website security glitch may have exposed their Social Security numbers and other sensitive data to the public.
Historically, when India's retail gold markets remained fragmented and unorganized, price parity was a major concern. Distance between places played key role in price differentiation in yellow metal. But with electronic exchanges rapidly taking shape and number of participants in Gold trading seen rising, the price disparity within India started wearing away.
A security expert has identified flaws in the design of some automated teller machines that make them vulnerable to hackers, who could make the ubiquitous cash dispensers spit out their cash holdings.
The gold hysteria has hit Australia hard as investors dump paper money and turn to precious metals as a source of diversification of their wealth, according toGeorge Vo, Precious Metals Sales Manager of Gold De Royale, Australia's premier retailer for Swiss precious metals. With gold prices hitting an all time high at US$1,266.50 an ounce, investors bought Swiss precious metals as a hedge against financial turbulence caused by Europe's debt crisis.
The company that oversees Web addresses ending in .org said on Wednesday it was introducing extra security measures to guard against identity theft.
Gold prices are set for yet another bull run on the back of concerns running high about European economy and investors rushing for gold under haven buying. The movement well understood when most of the investors opined that gold persist as the most safe investment instrument above all commodities and equities.
The U.S. Federal Communications Commission said it would step up scrutiny of online security and privacy issues following recent security breaches involving Apple Inc's iPad and Google Inc's collection of private data by its Street View cars.
Gold rebounded on short
covering on Friday after falling around 1 percent in the
previous session, while a rise in ETF holdings to another
record showed bullion still attracted buying from investors.
The Federal Bureau of Investigation has opened a probe into a security breach of Apple Inc's iPad that exposed personal information of AT&T Inc customers, including those of several high-ranking government officials.
The Federal Bureau of Investigation has opened a probe into a security breach of Apple Inc's iPad that exposed personal information of AT&T Inc customers.
The Federal Bureau of Investigation has opened a probe into a security breach of Apple Inc's iPad that exposed personal information of AT&T Inc customers.
IBTimes had an interview with James Turk, Founder & Chairman of GoldMoney.com.
Who is your target audience?
We have around 15,000 clients all over the world, and they share one common aim. They want to protect their wealth from the turmoil of national currencies and the uncertainty surrounding the ongoing financial crisis. So they want to own gold and find GoldMoney a convenient, economical and most importantly, a safe way of doing that. There is over $1 billion of customer assets in GoldMoney...
IBTimes had an interview with James Turk, Founder & Chairman of GoldMoney.com.
Who is your target audience?
We have around 15,000 clients all over the world, and they share one common aim. They want to protect their wealth from the turmoil of national currencies and the uncertainty surrounding the ongoing financial crisis. So they want to own gold and find GoldMoney a convenient, economical and most importantly, a safe way of doing that. There is over $1 billion of customer assets in GoldMoney...
Microsoft Corp issued one of its biggest security fixes on Tuesday, including a repair to its widely used Excel spreadsheet for flaws that could allow hackers to take control of a user's PC.
Microsoft Corp issued one of its biggest security fixes on Tuesday, including a repair to its widely used Excel spreadsheet for flaws that could allow hackers to take control of a user's PC.
European Union Food Facility fund received a boost with the EU donating 13.2 million to its funding to enhance agricultural production in developing countries worst hit by high food prices. This brings the total amount of the fund channeled through FAO to an unprecedented Euro 228 million.
