gold futures

gold futures

June 24th, 2014

Gold rose to a two-month high as U.S. home prices rose at a slower pace than forecast and business confidence in Germany eroded, boosting the appeal of the metal as a haven. Silver climbed to the highest since March.

The S&P/Case-Shiller index of property values in 20 U.S. cities increased 10.8 percent in the 12 months that ended April 30, the smallest in more than a year, data showed today. In Germany, Europe’s largest economy, business confidence fell to the weakest this year amid signs of slower economic growth.

Gold futures have climbed 6 percent this month, partly on concerns that gains in the global economy will be muted. On June 11, the World Bank cut its growth forecast. Federal Reserve policy makers led by Chair Janet Yellen said last week that U.S. interest rates will remain low for a considerable time.

“The weaker home prices in the U.S. and negative news out of Europe are giving gold a bump,” Fain Shaffer, the president of Infinity Trading Corp. in Indianapolis, said in a telephone interview. “We’re also still moving higher from Yellen’s statements last week.”

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gold futures trading

gold futures

June 6th, 2014

Gold futures fell the most in a week as equities advanced, diminishing demand for the precious metal as an alternative investment.

The Standard & Poor’s 500 Index (SPX) of shares rose to a record after a government report showed that American employers in May pushed payrolls past their pre-recession peak. Gold traded little changed after the jobs report and dropped as much as 0.6 percent after the U.S. equity market opened.

Bullion’s 60-day historical volatility this week reached the lowest since April 2013, and the value of exchange-traded products backed by gold shrank by $2.6 billion in May, the most this year. The metal’s appeal as a haven diminished as U.S. equities surged and tension between Ukraine and Russia eased. More than $1.1 trillion was added to the value of global stock markets last month.

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April 3rd, 2014

Gold futures declined toward a seven-week low in New York as improving U.S. data added to the case for reduced stimulus.

Bullion futures reached $1,277.40 an ounce on April 1, the lowest since Feb. 11. A private report yesterday showed U.S. companies increased hiring last month. The Bloomberg Dollar Spot Index that tracks the U.S. currency versus 10 major counterparts reached the highest since March 25 today before government data tomorrow that may show stronger jobs growth.

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March 3rd, 2014

Gold futures advanced to a more than four-month high in New York as concern of a conflict between Russia and Ukraine boosted demand for a haven. Silver climbed.

Ukraine put its forces on combat readiness over the weekend after Russian President Vladimir Putin got parliamentary approval to send troops into its southern neighbor. U.S. President Barack Obama warned Russia not to intervene and Secretary of State John Kerry travels to Ukraine today to offer support as Russian troops occupy the Black Sea region of Crimea.

Bullion is the fourth-biggest gainer in 2014, after coffee, lean hogs and corn, on the Standard & Poor’s GSCI Index of 24 commodities as unrest in Ukraine and signs of slower economic growth boosted demand for a store of value. Gold rebounded from a 28 percent drop in 2013 as U.S. economic data from factory output to retail sales missed estimates just as the Federal Reserve started to scale back asset purchases.

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February 25th, 2014

Gold futures traded near a 16-week high in New York as investors weighed turmoil in Ukraine against the outlook for slowing bullion demand at higher prices.

Ukraine’s Acting President Oleksandr Turchynov pushed back a parliamentary vote on a national unity government to Feb. 27 from today as he attempts to win agreement with protest leaders who orchestrated last week’s ouster of Viktor Yanukovych. Physical demand for gold from Asia is “muted,” Standard Bank Group Ltd. said in a report yesterday.

After slumping the most since 1981 last year, gold is set for the first back-to-back monthly increase since August as data that trailed estimates fueled concern the U.S. recovery may be faltering. Prices gained even as the Federal Reserve lowered its bond-buying program by $10 billion a month in January and again in February, reducing the purchases to $65 billion.

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October 17th, 2013

Gold futures will drop in each of the next four quarters and reach a four-year low as reduced U.S. stimulus in response to faster economic growth curbs demand for bullion as a haven, the most accurate forecasters said.

The metal will decline to an average of $1,175 an ounce in the third quarter next year, or 10 percent less than now, according to the median of estimates from the 10 most-accurate precious metals analysts tracked by Bloomberg over the past two years. Prices were last at that level in 2010.

The forecasts underscore how some investors lost faith in gold as a store of value, driving prices to their first annual loss in 13 years. More than $63 billion was erased from the value of gold-backed funds this year, spurring losses for billionaire hedge-fund manager John Paulson, and mining companies announced at least $26 billion of writedowns. Bullion jumped today after Dagong Global Credit Rating Co. cut its U.S. credit rating and on speculation the Federal Reserve will postpone slowing stimulus.

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Gold Options

Gold Futures

October 10th, 2013

Gold futures will extend losses into 2014 amid expectations the Federal Reserve will pare stimulus as the U.S. recovers, according to Morgan Stanley, adding to bearish calls from Goldman Sachs Group Inc. and Credit Suisse Group AG.

“We recommend staying away from gold at this point in the cycle,” Melbourne-based analyst Joel Crane said in a video report received today. Bullion will average $1,313 an ounce in 2014, down from the $1,420 forecast for this year, Morgan Stanley said in its quarterly metals report on Oct. 7.

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commodity brokers

Commodity Futures

October 7th, 2013

Ben S. Bernanke, the world’s most-powerful central banker, says he doesn’t understand gold prices. If his peers had paid attention, they might have stopped expanding reserves that lost $545 billion in value since bullion peaked in 2011.

Bernanke, who holds economics degrees from Harvard College and the Massachusetts Institute of Technology and led the Federal Reserve through the biggest financial disaster since the Great Depression, told the Senate Banking Committee in July that “nobody really understands gold prices and I don’t pretend to really understand them either.”

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gold options

Gold futures rise

August 18th, 2013

Speculators cut bullish and bearish bets on gold simultaneously for the first time in two months as prices advanced to the highest since mid-June on signs of strengthening physical demand.

The net-bullish position rose 18 percent to 56,604 futures and options by Aug. 13, as the 17 percent contraction in short bets exceeded the 3 percent drop in long wagers, U.S. Commodity Futures Trading Commission data show. Net-long holdings across 18 U.S.-traded commodities expanded 23 percent as the position in silver more than doubled and investors turned positive on copper for the first time since February.

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Gold Slips to 34-Month Low

On June 26, 2013, in gold futures trading news report, by Infinity Trading
gold options

Gold futures slip

June 26th, 2013

Gold futures plunged to a 34-month low, set for a record quarterly drop, as improving U.S. economic data strengthened the case for the Federal Reserve to reduce stimulus. Silver futures fell to the lowest since August 2010.

Gold dropped 23 percent this quarter, heading for its biggest loss since at least 1920 in London. Fed Chairman Ben S. Bernanke said last week the central bank may slow its asset-purchase program this year if the economy continues to improve. U.S. durable-goods orders rose more than expected, home sales advanced to the highest in almost five years and consumer confidence climbed, data showed yesterday.

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