gold prices

The Reserve Bank of India (RBI) has allowed more banks, including Axis Bank and Kotak Mahindra Bank, to import gold under the 80:20 scheme, a move seen as a precursor to easing restrictions on inward shipments of the metal.
The government and the RBI had imposed tough measures to control gold imports, one of the primary causes of the current account deficit swelling to a record high $88.2 billion in 2012-13.
The government also increased customs duty on gold to 10 per cent from 4 per cent to discourage imports.

LONDON: Gold prices hit three-week lows on Thursday after posting its biggest one-day fall since late January in the previous session, reacting to comments from Federal Reserve head Janet Yellen suggesting US interest rates could rise sooner than expected.

The dollar rose sharply, stocks fell and short-term US bond yields jumped by the most in almost three years after Yellen said the bank may end its bond-buying programme this autumn, and could start to raise interest rates around six mont ..

SAN FRANCISCO (MarketWatch) — Gold futures on Thursday settled with a modest gain, as a pullback in U.S. equities helped provide some investment appeal for the precious metal.

Pressure remained on copper prices after a batch of downbeat China data.

Gold for April delivery GCJ4 +0.18%   rose $1.90, or 0.1%, to settle at $1,372.40 an ounce on the Comex division of the New York Mercantile Exchange. Prices tallied their four-straight session gain and held their ground at a six-month closing high.

By Nicholas Larkin and Glenys Sim  Mar 11, 2014 8:08 AM ET

Bloomberg

Gold prices climbed toward a four-month high in New York as the standoff between Russia and Ukraine spurred demand for a haven. Silver advanced.

Gold is back above $1350 and within easy striking distance of the 2014 high of $1354 (set on Monday). Gold slumped Tuesday as demand for safety from the Ukrainian crisis subsided but once again, gold proved its resilience.
I added to gold longs on Tuesday and yesterday. It’s been impressive watching gold shake off various risks and challenges while continuing to the upside. If Monday’s high can break, the next line of resistance is the October high at $1362.

Published in Financial Post Bob Van Voris, Bloomberg News | March 5, 2014 | Last Updated: Mar 5 8:13 AM ET

Barclays Plc, Deutsche Bank AG, the Bank of Nova Scotia and two other banks were accused in a lawsuit of manipulating the London gold fix, a benchmark used throughout the $20 trillion market for the metal.

Kevin Maher, a New York resident who says he bought and sold gold and gold futures and options, sued Tuesday in Manhattan federal court claiming the five banks overseeing the century-old benchmark colluded to manipulate it.

Wall Street Journal, Money Beat

China’s buying of gold jewelry, coins and bars is now the biggest driver of prices, not investment demand from the West, according to HSBCHSBA.LN +1.46% Global Research.

“We would argue that physical demand trends in the emerging world will largely define gold’s price movements this year,” HSBC analysts James Steel and Howard Wen said in a research note.

Investing.com - Gold prices rose in Asia on Monday as tension between the West and Russia over the Ukraine stoked risk asset buying.
Gold prices gain in Asia on tension between West and Russia over Ukraine

Gold, silver prices maintained an upward march on higher global cues while crude saw a mixed trade. Here are experts’ trading strategies for the commodities. Watch below or on Econonic Times: Here.

LONDON (MarketWatch) — It is not often the financial markets reach a consensus. No one can agree whether the euro zone is now fixed or just getting ready for another crisis. Nor on whether the end of quantitative easing will crash the markets, or signal a return to normal growth. Or indeed on whether China is about to implode messily, or will power forward to dominate the coming century.