30 November 2013
28 November 2013
26 November 2013
25 November 2013
23 November 2013
22 November 2013
21 November 2013
18 November 2013
16 November 2013
15 November 2013
14 November 2013
13 November 2013
12 November 2013
Berita Semasa 12 November 2013 ...
Turkey, Kazakhstan raise Gold holdings, Russia reserves ease
Turkey, which has the world's 11th-largest gold reserve, also lifted its holdings by 23 tonnes in August to 487 tonnes. Kazakhstan, which has been an active buyer in the official-gold sector, bought 2.5 tonnes gold to 137 tonnes in September.
Image Courtesy of BigStockPhoto.com
Russia's gold holdings eased while Turkey and Kazkhstan raised their gold holdings, according to International Financial Statistics updated by International Monetary Fund (IMF).
Turkey's central bank raised its gold holdings by 2.91 tonnes to 490.261 tonnes in September, extending its gold-buying trend to a third consecutive month, preliminary data from the IMF showed.
Turkey, which has the world's 11th-largest gold reserve, also lifted its holdings by 23 tonnes in August to 487 tonnes. Kazakhstan, which has been an active buyer in the official-gold sector, bought 2.5 tonnes gold to 137 tonnes in September.
Meanwhile, value of India's gold reserves remained unchanged last week at Rs 1336.4 bn, according to Reserve Bank of India (RBI).
Sumber : Google
11 November 2013
Berita Semasa 11 November 2013 ...
Elliot Management finds positive fundamentals for Gold, BofAML sees it at $1500
Elliott Management has informed its clients that it has added to its bullish-gold-option holdings which are aimed at having limited downside risk with a large upside potential, Reuters reported. Elliott still feels the fundamentals are 'uniquely positive for gold'.
Golden egg photo courtesy FreeDigitalPhotos.net
Gold prices have fallen from a recent high of $1360 per ounce to $1334, however, the hedge fund major Elliott Management continues to be postiive on gold. It has added to its long-gold positions bet while also puting more more into activist strategies.
Elliott Management has informed its clients that it has added to its bullish-gold-option holdings which are aimed at having limited downside risk with a large upside potential, Reuters reported. Elliott still feels the fundamentals are 'uniquely positive for gold'.
Meanwhile, MacNeil Curry said in a note to invesotrs that gold could be heading towards $1500 and the bank has changed its bearish stand on gold to bullihs.
"The impulsive gains from the 1251 low of Oct-15 and break of the 2m downtrend (confirmed on the break of 1330) say a medium term base and bullish turn is unfolding. We look for an ultimate break of the 1433 highs of Aug-28, with POTENTIAL for a push to 1500/1533 long term resistance. In the next several sessions we would buy a dip into 1309. THIS VIEW IS WRONG ON A BREAK BELOW 1251. For those awaiting additional confirmation of a turn, you need to see a break of 1375 (Sep-19 high & right shoulder off a multi-month Head and Shoulders Top)."
In other words, now that gold has broken above $1,330, Curry sees it next going towards $1,433 and potentially as much as $1,500 to $1,533. To be double sure it's headed up, wait for gold to trade above $1,375. All bets are off, though, if it drops below $1,251. Bullion traded at $1,357 on Wednesday.
Sumber : Google
10 November 2013
Berita Semasa 10 November 2013 ...
A bullish strategy for Gold in a weak market: Barclays
The latest data from the US Mint shows that gold coin sales reached 66.5koz in October and have already hit 3koz in November. This brings 2013 YTD gold coin sales to 973.5koz, where as 2012 full year sales were 857.5koz.
Macro-economic conditions remain favourable for gold although its own fundamentals haven't been quite supportive with outflows from exchange traded funds in October exceeding net redemptions in past two months while Indian seasonal demand appears weak, Barclays said in a weekly report.
US Federal Reserve is expected to keep tapering measures on hold till more favourable data is seen on the economic front with respect to manufacturing and employment.
The forex market remains neutral for gold and Barclays has projected one month targets for EUR/USD at 1.35, USD/JPY 98, USD/CHF 0.92. With the Fed firmly in data dependent mode, the outcome of US economic data, and especially the employment report, continues to drive the market’s expectations regarding the Fed’s next move and the USD in coming months.
The latest data from the US Mint shows that gold coin sales reached 66.5koz in October and have already hit 3koz in November. This brings 2013 YTD gold coin sales to 973.5koz, where as 2012 full year sales were 857.5koz.
The latest IMF statistics revealed central banks remained net purchasers in September but buying has slowed down. Azerbaijan added 6 tonnes to its reserves, Kazakhstan added 2.5 tonnes (up 21.7 tonnes YTD, gold reserves ~24%), Ukraine added 0.3 tonnes while Mexico and Russia sold less than half a tonne each (gold reserves ~9%). Russia has sold small quantities over the past two years but is still the largest net purchaser over the first three quarters of the year, according to the IMF statistics (up 57 tonnes). The latest weekly ECB statement for the week ended 25 October revealed gold holdings remained unchanged across the Euro-system banks. We maintain the view we expect the official sector to remain net buyers in 2013 and 2014 albeit to a smaller extent compared with last year.
Technical strategy: Bullish
-Gold rolls over as the USD strengthens and yield tick higher. Risking a return to 1250/1270 before a bounce.-Resistance: 1328, 1344; Support 1288, 1270.
Sumber : Google
9 November 2013
Berita Semasa 09 November 2013 ...
Gold gets support on weak dollar, fails to capitalise on bullish data
Stimulus is likely to be sustained as recent data isn't supportiv of tapering. US employers added fewer jobs and the economy seems to have lost momentum.
Image of Gold egg courtesy of FreeDigitalPhotos.net
Gold prices seemed to have gained support this week on weak US dollar although it failed to capitalise on data which rule out the prospect for December Fed tapering to happen.
Stimulus is likely to be sustained as recent data isn't supportiv of tapering. US employers added fewer jobs and the economy seems to have lost momentum. In Asian markets, India festival demand was relatively weak and higher prices, lower availablility of bullion only added to the woes of the market. India gold imports have fallen from a high of 162 tons in May to 23.5 tons in October just ahead of festival season.
A CME group report on Wednesday trading trends said: It is also possible that gold prices drafted some fresh support from a recovery in North American gold mining shares and it is also possible that gold has somehow managed to align with the positive action in equities. There are some gold bulls that suggest gold's bounce Wednesday was the result of a realization that US data is simply too weak for the number Friday to be strong enough to put the US Fed in a position to begin tapering in December.
Gold dropped 21 percent this year, set for its first annual loss since 2000, amid speculation the Federal Reserve would curb stimulus as economic growth picked up. Gross domestic product grew at a 2 percent annual rate in the third quarter from 2.5 percent in the previous period, Bloomberg reported.
US Gold futures for December delivery weakend to $1315.1 per ounce in electronic trading on Thursday. The head and shoulders pattern in technical charts are intact and further gains to $1350 levels can't be ruled out in the near term given the fundamentals are quite supportive for gold.
Sumber : Google
8 November 2013
7 November 2013
5 November 2013
2 November 2013
Subscribe to:
Posts (Atom)