The fall is quickly approaching and Tuesday’s price action gave investors a slight tease of what the traditionally gold-friendly season has in store this year. The usual suspects—fear-induced investment demand and gold-hungry Asia—are still driving the gold bus home for the metal’s fans.
Sprott Asset Management's chief investment strategist, John Embry, told Mineweb’s Gold Weekly podcast listeners Wednesday that if gold’s “not between $1,500 and $2,000 in the next 18 months, I'm dead wrong."
Several factors are influencing the gold market and stirring debate between the bear and bull camps including the euro-gold trade, China’s stance toward gold reserves, Central Bank buying (and now selling!), and physical demand.
Three news stories moving gold prices this week include the World Gold Council’s recent report, rumors China would sell its euro zone debt holdings, and of all things, the stand-off in the Korean Peninsula.
By Kishori Krishnan Exclusive To Gold Investing News It is a trend that is catching on. First China bought gold from the International Monetary Fund, then it was the turn of India. Now, Sri Lanka has jumped onto the bandwagon. Countries are buying gold like there is no tomorrow. Sri Lanka’s central bank said it [...]
By Kishori Krishnan Exclusive To Gold Investing News India has shown the way, and charted out a clear path for the road ahead with its US$ 6.7 billion gold purchase. Buying 200 tonnes of gold from the International Monetary Fund, almost half of the 403 tonnes earmarked for sale by the IMF, India has effectively [...]
Assets in India’s gold exchange-traded funds in July surged 2.5% to $181 million from 8.44 billion rupees in June, data from the Association of Mutual Funds in India showed Monday. For full story, click here
India domestic gold trading remained thin as most of the banks, the primary sellers of gold, were shut due to a strike, dealers said. For full story, click here
India gold traders stayed away from taking fresh positions on Wednesday as prices surged by about 1 percent in the previous session, even as a strong rupee lifted sentiment, dealers said. For full story, click here
It is an interesting story in gold as far the yellow metal purchases and imports are concerned by the world’s two largest gold-consuming countries–China and India. For full story, click here
Tuesday, August 31, 2010