24 April 2013
Berita Semasa 24 April 2013 ...
Gold slump hits hard on John Paulson
According to reports, about $328 million was shaved from his net worth on this bet alone when gold dropped 4.1 per cent on Friday.
Gold's nosedive hit billionaire investor John Paulson the most as he lost more than $300 million on Friday.
According to reports, about $328 million was shaved from his net worth on this bet alone when gold dropped 4.1 per cent on Friday. Gold share classes account for about 85 per cent of the $9.5 billion Paulson has invested across his hedge funds.
Gold has entered a bear market after falling more than 20 per cent since August 2011, bringing more bad news for Paulson, who has struggled with poor returns for the past two years.
However, John Reade, a partner and gold strategist at Paulson & Co, said the recent decline in gold prices has not changed our long-term thesis as we started investing in gold at $900 in April 2009 and while it's down from its peak to $1500, it's up considerably from our cost.'
Gold tumbled and entered a bear market after falling more than 20 per cent since August 2011, bringing more bad news for Paulson, who has struggled with poor returns for the past two years.
For months Paulson's has stuck by his biggest single investment in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, where he owned 21.8 million shares at the end of the fourth quarter.
But clearly other investors became jittery in February when a 3.8 percent price drop was accompanied by an outflow of 70 tons, more than 5 percent of the ETF's holdings. This marked the biggest monthly outflow since 2004.
Sumber : Google
23 April 2013
Berita Semasa 23 April 2013 ...
Nepal Gold drops sharply despite short supply
Analysts said improvement in the US economy coupled with the Euro and Cyprus issues has led to investors shifting from gold to equities and other investment avenues.
In line with global trends, Gold prices dropped sharply in Nepal when markets opened Monday.
A tola of gold dropped by Nepal Rs 2,300 in early trade to Rs 54,000 as investors around the world have been pulling out of gold and investing on property.
Analysts said improvement in the US economy coupled with the Euro and Cyprus issues has led to investors shifting from gold to equities and other investment avenues.
According to officials of Federation of Nepal Gold and Silver Dealers Associations, the drop in price will not lead to drastic rise in demand for the yellow metal as customers will be on wait and see mood expecting further drop in prices.
Nepal's daily demand for gold stands at around 35 kg, according to the federation. But as the wedding season has started, daily demand will increase by another 5-10 kg.
Though gold price is expected to come down, customers willing to buy gold bars or coins have no reason to cheer about. Traders are not selling gold bars and coins, citing shortage of gold to meet demand for jewelries.
Most of the traders are not selling gold bars or coins because gold is in short supply in the domestic market. The mismatch between demand and supply has crated this situation, Association said.
Sumber : Google
22 April 2013
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