* Gold rallies to 1-month high on record oil
* Dollar holds near 3-week low against euro
* World stocks at 3-month low
By Raissa Kasolowsky
LONDON, June 27 (Reuters) - Gold rallied to its strongest level in a month on Friday as record oil prices, a weak dollar and tumbling world stocks boosted the metal's safe-haven appeal.
Gold climbed to $924.10 an ounce, its highest since May 27 and was at $922.00/923.00 an ounce by 0935 GMT, well above $912.60/913.60 an ounce late in New York on Thursday. World stocks fell to a three-month low as a fast deteriorating global inflation picture fanned concerns over the outlook for corporate profits.
"There seems to be a very clear link between people's worries over the economic outlook and investment in gold," said Daniel Smith, an analyst at Standard Chartered.
"The weaker dollar environment has also helped but there does seem to be a clear link between equities and gold. It's safe-haven buying."
In theory, rising energy prices boost gold's appeal as a hedge against inflation, while a weaker dollar makes the metal an attractive alternative investment.
Despite the gains, gold was still well below a lifetime high of $1,030.80 an ounce hit in March. Oil leapt to a new record near $142 a barrel on Friday, extending gains after surging nearly 4 percent in the previous session.
The dollar steadied after sliding in the previous session but held near three-week lows versus the euro. The U.S. currency had dropped as investors reduced their expectations for a Federal Reserve rate hike this year, and as U.S. stocks tumbled.
"After the Fed came in and talked about its inflation concerns the market now sees the possibility of rate rises as relatively low and that is really starting to pull on the gold price which is particularly sensitive to FX and global rates," said Daniel Hynes, metals strategist at Merril Lynch.
Investors will closely monitor key U.S. data to find out more about the health of the economy. U.S. May personal income and consumption data are due at 1230 GMT and Reuters/University of Michigan consumer sentiment data for June due at 1355 GMT.
In industry news, the market also kept an eye on the supply side threats. In Peru, miners are going ahead with a plan to strike for better benefits starting on Monday.
Spot platinum rose to $2,065.00/2,080.00 an ounce from $2,057.50/2,077.50 late in New York. Spot palladium rose to $466.50/474.00 an ounce from $464.00/472.00 an ounce.
Silver edged up to $17.40/17.46 an ounce from $17.22/17.28 late in New York.
(Reporting by Raissa Kasolowsky; Editing by Peter Blackburn)
Showing posts with label Gold. Show all posts
Showing posts with label Gold. Show all posts
Friday, June 27, 2008
Saturday, June 7, 2008
美国商品市场：黄金大幅上涨；因美元下挫；油价飙升
黄金及其他贵金属期货周五大幅上涨，交易员和分析师们称，受美元疲软和创纪录的原油价格上涨影响。
几位交易员称，另外一个支撑贵金属价格走高的因素来自以色列副总理Shaul Mofaz的言论；他警告称，如果伊朗发展核武器项目，以色列可能会对其发动进攻。
CNCB电视台周五报导，美国国防部(U.S. Defense Department)一位官员称，没有迹象显示以色列正准备向伊朗采取军事行动。
纽约商交所Comex八月黄金结算价上涨23.50美元，报每盎司899美元；七月白银上涨26美分，报每盎司17.43美元。
黄金周四触及三周低点，引发新的投机性买盘以及空头回补。
与此同时，七月铂期货飙升68.80美元，结算价报每盎司2,081.30美元；九月钯期货飙升6.40美元，至433.80美元。
七月铜期货合约上涨8美分，至每磅3.6230美元。
几位交易员称，另外一个支撑贵金属价格走高的因素来自以色列副总理Shaul Mofaz的言论；他警告称，如果伊朗发展核武器项目，以色列可能会对其发动进攻。
CNCB电视台周五报导，美国国防部(U.S. Defense Department)一位官员称，没有迹象显示以色列正准备向伊朗采取军事行动。
纽约商交所Comex八月黄金结算价上涨23.50美元，报每盎司899美元；七月白银上涨26美分，报每盎司17.43美元。
黄金周四触及三周低点，引发新的投机性买盘以及空头回补。
与此同时，七月铂期货飙升68.80美元，结算价报每盎司2,081.30美元；九月钯期货飙升6.40美元，至433.80美元。
七月铜期货合约上涨8美分，至每磅3.6230美元。
Tuesday, June 3, 2008
金价持续走低
美元兑欧元汇率会否持续走弱，原油价格（已达历史性135美元高水平）又会否再飙升，都是国际黄金市场的焦点所在。其实，只要美元持续走弱，则可带动原油与黄金，前者产生飙高的通货膨胀，作为抗通胀的黄金因之受投资者青睐，而把之提升。
联储局公布其于4月底的会议记录暗示，前半年经济衰退，不过后半年则有微升的迹象，考量通胀与弱势美元，可能取前者而舍后者。意思是说，优先处理通胀的问题，但不是调高利率，而是暂停降息的行动，立竿见影，美元因之徘徊在1.57的水平，黄金价格则流连在920美元以上。
美元拒绝回升，原油价格也拒绝回跌，两者都在等待对各自有利的消息涌现，此时发生世界第八大原油生产国尼日利亚的叛军爆破输油管事件，之前北海原油生产已出现了问题，考虑到供应可能受到干扰，原油市场遂被提升，其价格仍然站稳在130美元以上，稳住了黄金的走势。
当原油价格居高不下与美元仍呈徘徊时，欧盟最大经济体德国的消费者情绪数据下降，撩起了该区经济可能出现裂缝之说，欧元走弱，反之美元走强，黄金受到打压，但为高油价产生通胀的恐惧所抵消，提供黄金一个止跌的平台，黄金就是这样被美元与原油“玩”于股掌之上。
美国4月份新房屋销售出乎意料上升，驱使美元大幅上升至1.56，打击原油价格下挫至低于130美元，黄金价格也由930美元滑跌至900美元的水平；又美国4月份耐用品订单下降，但比预期的小，支持联储局可能维持利率不变的观点，美元进一步走强至1.54，黄金进一步被打压至870美元水平。
当美元呈弱势、原油表现出色时，为黄金走势最佳的状态，而两者的情况相反时，则拖累黄金，但这又并非坏事，一是市场可喘一口气，其次是给现货需求者捡便宜货的机会，配合消费者需求，投资需求重新提升市场时，才不会有所牵挂。
Source
联储局公布其于4月底的会议记录暗示，前半年经济衰退，不过后半年则有微升的迹象，考量通胀与弱势美元，可能取前者而舍后者。意思是说，优先处理通胀的问题，但不是调高利率，而是暂停降息的行动，立竿见影，美元因之徘徊在1.57的水平，黄金价格则流连在920美元以上。
美元拒绝回升，原油价格也拒绝回跌，两者都在等待对各自有利的消息涌现，此时发生世界第八大原油生产国尼日利亚的叛军爆破输油管事件，之前北海原油生产已出现了问题，考虑到供应可能受到干扰，原油市场遂被提升，其价格仍然站稳在130美元以上，稳住了黄金的走势。
当原油价格居高不下与美元仍呈徘徊时，欧盟最大经济体德国的消费者情绪数据下降，撩起了该区经济可能出现裂缝之说，欧元走弱，反之美元走强，黄金受到打压，但为高油价产生通胀的恐惧所抵消，提供黄金一个止跌的平台，黄金就是这样被美元与原油“玩”于股掌之上。
美国4月份新房屋销售出乎意料上升，驱使美元大幅上升至1.56，打击原油价格下挫至低于130美元，黄金价格也由930美元滑跌至900美元的水平；又美国4月份耐用品订单下降，但比预期的小，支持联储局可能维持利率不变的观点，美元进一步走强至1.54，黄金进一步被打压至870美元水平。
当美元呈弱势、原油表现出色时，为黄金走势最佳的状态，而两者的情况相反时，则拖累黄金，但这又并非坏事，一是市场可喘一口气，其次是给现货需求者捡便宜货的机会，配合消费者需求，投资需求重新提升市场时，才不会有所牵挂。
Source
Wednesday, January 9, 2008
Shanghai Futures Exchange launches gold trading
SHANGHAI (XFN-ASIA) - The Shanghai Futures Exchange (SFE) started trading gold futures today, officials said.
The exchange marked the occasion with an opening ceremony before trading several types of gold contracts.
"Launching gold futures is important to China's futures and financial market development," said Shang Fulin, the chairman of the China Securities Regulatory Commission.
Analysts said the new futures product is a crucial step in the development of China's markets and offers new channels for investment.
China is the world's largest consumer of gold, and the third largest gold producer. Chinese manufacturers account for 9.2 pct of world gold consumption, Shang said.
The exchange has set the contract size at 1,000 grams with the minimum margin at seven pct of the contract value. Individual investors are not allowed to participate in deliveries.
Trading gold contracts will provide some investors a new investment channel and help soak up some of the liquidity that has helped drive up inflation.
"The launch of gold futures is very welcome as investors are eagerly looking for new investment tools given the stock market's high valuation and volatility, and the property market is under severe control," Hu Yanyan, a gold futures analyst with Shanghai Jiuheng Futures Brokerage, said.
Ahead of the official launch, gold futures were traded on a trial basis from Jan 2 to Jan 8.
The bourse yesterday set the benchmark price for gold futures contract at 209.99 yuan per gram after reviewing the trial results.
The new contracts will also help companies hedge risks.
"China has a huge need for commodities. Further opening of the futures market helps manufacturers hedge risks and will improve the overall competitiveness of Chinese companies," Hu said.
China's gold output rose 7.15 pct year-on-year to 240.08 tons in 2006, with production concentrated in the provinces of Shandong, Henan, Fujian, Liaoning, Hunan and Shaanxi.
The SFE, which currently trades copper, aluminum, zinc, natural rubber and fuel futures, won regulatory approval to trade gold futures in September.
The Shanghai Futures Exchange expects to launch silver futures following the gold futures, Huo Ruirong, a deputy executive officer with the exchange, told reporters earlier. The bourse has also applied to regulators to trade in steel futures.
(1 usd = 7.3 yuan)
The exchange marked the occasion with an opening ceremony before trading several types of gold contracts.
"Launching gold futures is important to China's futures and financial market development," said Shang Fulin, the chairman of the China Securities Regulatory Commission.
Analysts said the new futures product is a crucial step in the development of China's markets and offers new channels for investment.
China is the world's largest consumer of gold, and the third largest gold producer. Chinese manufacturers account for 9.2 pct of world gold consumption, Shang said.
The exchange has set the contract size at 1,000 grams with the minimum margin at seven pct of the contract value. Individual investors are not allowed to participate in deliveries.
Trading gold contracts will provide some investors a new investment channel and help soak up some of the liquidity that has helped drive up inflation.
"The launch of gold futures is very welcome as investors are eagerly looking for new investment tools given the stock market's high valuation and volatility, and the property market is under severe control," Hu Yanyan, a gold futures analyst with Shanghai Jiuheng Futures Brokerage, said.
Ahead of the official launch, gold futures were traded on a trial basis from Jan 2 to Jan 8.
The bourse yesterday set the benchmark price for gold futures contract at 209.99 yuan per gram after reviewing the trial results.
The new contracts will also help companies hedge risks.
"China has a huge need for commodities. Further opening of the futures market helps manufacturers hedge risks and will improve the overall competitiveness of Chinese companies," Hu said.
China's gold output rose 7.15 pct year-on-year to 240.08 tons in 2006, with production concentrated in the provinces of Shandong, Henan, Fujian, Liaoning, Hunan and Shaanxi.
The SFE, which currently trades copper, aluminum, zinc, natural rubber and fuel futures, won regulatory approval to trade gold futures in September.
The Shanghai Futures Exchange expects to launch silver futures following the gold futures, Huo Ruirong, a deputy executive officer with the exchange, told reporters earlier. The bourse has also applied to regulators to trade in steel futures.
(1 usd = 7.3 yuan)
Saturday, November 24, 2007
Metals - Gold up on weak dollar
Metals - Gold up on weak dollar; volumes light as US holidays continue
November 23, 2007: 07:30 AM EST
LONDON, Nov. 23, 2007 (Thomson Financial delivered by Newstex) -- Gold rose as the dollar remained weak, having hit a record low against the euro in Asian trading hours, which sparked demand from those trading in other currencies as they found the metal to be cheaper.
November 23, 2007: 07:30 AM EST
LONDON, Nov. 23, 2007 (Thomson Financial delivered by Newstex) -- Gold rose as the dollar remained weak, having hit a record low against the euro in Asian trading hours, which sparked demand from those trading in other currencies as they found the metal to be cheaper.
Dollar-denominated gold moves in the opposite direction to the dollar and in line with high oil prices, as it is seen as a hedge against inflation.
Oil, while lower on the day, was still within sight of a record high around 99 usd struck earlier this week.The US was on holiday for Thanksgiving yesterday and although some players have returned to their desks, ongoing celebrations will again keep volumes on the light side and no economic data is scheduled for release.
Gold surged to 845.58 usd an ounce in early November, just 0.5 pct lower than its all-time record high price of 850 usd in January 1990.At 12.02 pm, spot gold was trading up at 809.63 usd per ounce against 803.25 usd in late London trade yesterday. Earlier today gold hit a day-high of 815.60 usd.
Safe-haven buying has also helped lift gold's value. Credit-crunch jitters have hammered equity markets and gold has been bought as a hedge, as it is seen as a safe store of value.'Sentiment remains bullish as the latest credit jitters prompt further safe-haven positioning by investors and speculators...the recent period of consolidation has improved the technical picture, signalling a re-test of 850 usd,' said James Moore, analyst at TheBullionDesk.Com.
Some analysts warned however that after such dramatic price increases, short-term corrections are likely at some point.'There is the potential for short-term price corrections, we would view these in the context of what remains a strong medium-term uptrend for gold,' said Barclays (NYSE:BCS) Capital analysts.
There is also a strong possibility traders might sell off as the end of the year approaches to book profits.'I'm generally still bullish on gold but there is a definite possibility of a correction at the end of the year' said Walter De Wet, analyst at Standard Bank.Looking ahead, there is no important US economic data today to impact the dollar or gold.
In other precious metals, platinum was steady at 1,468 usd per ounce from 1,468.50 usd.Silver was up at 14.54 usd per ounce against 14.53 usd late in London yesterday, while palladium edged down to 349 usd per ounce against 349.50 usd.
美国商品市场：金价在清淡的交投中大幅上扬
2007年11月24日 04:17
黄金期货周五收盘大幅走高，美元最初下跌时金价曾一路飙升。
2007年11月24日 04:17
黄金期货周五收盘大幅走高，美元最初下跌时金价曾一路飙升。
分析师表示，虽然美元后来反弹，但技术因素和原油走强仍令金价走高。本交易日界于感恩节(Thanksgiving)和周末之间，因此交投清淡。
Future Path Trading经纪商兼期货分析师Frank Lesh表示，由于市场交投淡静，金价波幅可能被放大；但投机人士和基金确实把资金重新投向了黄金。
纽约商交所，Comex十二月黄金期货合约收盘大幅上涨26.10美元，至每盎司824.70美元。市场今日提前收盘。
十二月银期货上涨31.5美分，至每盎司14.735美元。一月铂期货涨13.30美元，至每盎司1,480.50美元。十二月钯期货涨3.55美元，至每盎司361.50美元。交投最活跃的三月铜期货合约涨9.95美分，至每磅3.0295美元。
Tuesday, November 13, 2007
黄金现货价
黄金现货价 由于原油价格下滑及美元反弹，投资者选择从近期金价的升势中获利平仓，以致昨日金价下跌超过3%。现货价从单日高位每盎司831.65 美元下泻最低至802.50 美元，其后回升至收报806.35 美元。然而，于今早亚洲交易时段，金价继续往南行，并下穿重要支持位800 美元，现于790 美元边界徘徊。于未來数个交易日，金价可能会面臨更大的向下调整。换言之，纵使美元仍然是主导金价走向的主要因素，其于短期内可能较难攀升至目标850 美元。
Wednesday, November 7, 2007
StreetTRACKS GOLD SHARES
StreetTRACKS GOLD SHARES
Bringing the gold market to investors
streetTRACKS® Gold Shares (“Gold Shares”) offer investors a new, innovative, relatively cost efficient and secure way to access the gold market. Gold Shares are intended to offer investors a means of participating in the gold bullion market without the necessity of taking physical delivery of gold, and to buy and sell that interest through the trading of a security on a regulated stock exchange. The introduction of Gold Shares is intended to lower many of the barriers, such as access, custody, and transaction costs, that have prevented some investors from investing in gold.
Gold Shares represent fractional, undivided beneficial ownership interests in the Trust, the sole assets of which are gold bullion, and, from time to time, cash. Gold Shares are intended to lower a large number of the barriers preventing investors from using gold as an asset allocation and trading tool. These barriers have included the logistics of buying, storing and insuring gold. In addition, certain pension funds and mutual funds do not or cannot hold physical commodities, such as gold, or the derivatives.
Now you can invest up to 10% of your CPFIS reserves in streetTracks®Gold Shares (SGX:GLD 10US$)
Monday, November 5, 2007
Gold Off 28-Year High
Gold off 28-year high, but holds above $800
Sun Nov 4, 2007 10:12pm ET
SINGAPORE (Reuters) - Gold dipped but held firm above $800 an ounce on Monday because of surging oil and prices and a weak U.S. dollar and dealers said strong fundamentals could help the metal retest a record high of $850 soon.
Spot gold edged down to $803.10/803.90 an ounce from $807.70/808.50 in late New York. Gold hit an intraday high of $807.60 on Monday, just below Friday's 28-year high of $807.70 ounce.
"I am sure gold will reach $850 by the end of this year," said Yukuji Sonoda, precious metals analyst at Daiichi Commodities in Tokyo.
Fatal mining accidents in South Africa, the world's main gold producer, ignited supply concerns and were supportive for prices while a falling dollar could encourage countries like China to sell the U.S. currency and buy commodities, said Sonoda.
Gold has risen more than 20 percent this year as record-high oil prices elevate its role as a hedge against inflation and a struggling dollar lifts its appeal as an alternative investment.
"Every government is very anxious about the dollar price. This will automatically support the gold price. There's a strong intention from the Chinese government to sell dollar," he said.
China holds 600 tonnes of gold in its reserves, according to the World Gold Council.
AngloGold Ashanti Ltd (ANGJ.J: Quote, Profile , Research) shut one of its larger mines in South Africa on Friday after a miner was killed in a rock-fall and as a miners' strike to protest against a spate of mine deaths in the country loomed.
The spate of deaths in South Africa's mines that are some of the world's deepest has pitted the 300,000-strong National Union of Mineworkers against mining firms, as more than 150 workers have been killed this year following 200 deaths in 2006.
Gold hit an all-time high of $850 in January 1980, when investors bought the metal heavily in the face of high inflation linked to strong oil prices, Soviet intervention in Afghanistan and the impact of the Iranian revolution.
After adjusting for inflation, that level was equal to $2,079 an ounce at 2006 prices, according to metals consultancy GFMS Ltd.
U.S. crude for December delivery fell $1.12 to $94.81 a barrel on Monday, pulling back from previous session's 2.5 percent surge, as easing tensions in the Middle East encouraged investors to take profits.
Japanese gold futures reached a 23-year high, rising in line with bullish cash gold. The benchmark October 2008 contract on the Tokyo Commodity Exchange <0#jau:> hit a high of 2,997 yen a gram before ending the morning session up 51 yen at 2,988 yen.
"If there's more money flowing into gold, maybe we can even see gold at $900 by the end of this year," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.
"Everything seems to be good for gold," he said.
The euro dipped to $1.4500, still near an all-time high of $1.4528 hit on Friday on trading platform EBS, the highest since its launch in 1999.The yen firmed at 114.40 yen.
COMEX gold futures edged down in Asia with the most active December contract was trading at $807.5, down $1.0.
On Friday, gold futures in New York surged above $810 on inflation fears sparked by a combination of surging crude oil prices and a record low dollar following a surprisingly strong U.S. jobs report.
Platinum inched down to $1,453/1,458 an ounce from $1,454/1,459 in New York on Friday,. Palladium edged down to $372/376 an ounce from $373/377 in New York.
Sun Nov 4, 2007 10:12pm ET
SINGAPORE (Reuters) - Gold dipped but held firm above $800 an ounce on Monday because of surging oil and prices and a weak U.S. dollar and dealers said strong fundamentals could help the metal retest a record high of $850 soon.
Spot gold edged down to $803.10/803.90 an ounce from $807.70/808.50 in late New York. Gold hit an intraday high of $807.60 on Monday, just below Friday's 28-year high of $807.70 ounce.
"I am sure gold will reach $850 by the end of this year," said Yukuji Sonoda, precious metals analyst at Daiichi Commodities in Tokyo.
Fatal mining accidents in South Africa, the world's main gold producer, ignited supply concerns and were supportive for prices while a falling dollar could encourage countries like China to sell the U.S. currency and buy commodities, said Sonoda.
Gold has risen more than 20 percent this year as record-high oil prices elevate its role as a hedge against inflation and a struggling dollar lifts its appeal as an alternative investment.
"Every government is very anxious about the dollar price. This will automatically support the gold price. There's a strong intention from the Chinese government to sell dollar," he said.
China holds 600 tonnes of gold in its reserves, according to the World Gold Council.
AngloGold Ashanti Ltd (ANGJ.J: Quote, Profile , Research) shut one of its larger mines in South Africa on Friday after a miner was killed in a rock-fall and as a miners' strike to protest against a spate of mine deaths in the country loomed.
The spate of deaths in South Africa's mines that are some of the world's deepest has pitted the 300,000-strong National Union of Mineworkers against mining firms, as more than 150 workers have been killed this year following 200 deaths in 2006.
Gold hit an all-time high of $850 in January 1980, when investors bought the metal heavily in the face of high inflation linked to strong oil prices, Soviet intervention in Afghanistan and the impact of the Iranian revolution.
After adjusting for inflation, that level was equal to $2,079 an ounce at 2006 prices, according to metals consultancy GFMS Ltd.
U.S. crude for December delivery fell $1.12 to $94.81 a barrel on Monday, pulling back from previous session's 2.5 percent surge, as easing tensions in the Middle East encouraged investors to take profits.
Japanese gold futures reached a 23-year high, rising in line with bullish cash gold. The benchmark October 2008 contract on the Tokyo Commodity Exchange <0#jau:> hit a high of 2,997 yen a gram before ending the morning session up 51 yen at 2,988 yen.
"If there's more money flowing into gold, maybe we can even see gold at $900 by the end of this year," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.
"Everything seems to be good for gold," he said.
The euro dipped to $1.4500, still near an all-time high of $1.4528 hit on Friday on trading platform EBS, the highest since its launch in 1999.The yen firmed at 114.40 yen.
COMEX gold futures edged down in Asia with the most active December contract was trading at $807.5, down $1.0.
On Friday, gold futures in New York surged above $810 on inflation fears sparked by a combination of surging crude oil prices and a record low dollar following a surprisingly strong U.S. jobs report.
Platinum inched down to $1,453/1,458 an ounce from $1,454/1,459 in New York on Friday,. Palladium edged down to $372/376 an ounce from $373/377 in New York.
Subscribe to:
Posts (Atom)
