Gold prices recovered smartly at the domestic bullion market today on renewed off-take from stockists and investors as well as pick up in demand from from jewellery traders ahead of festival season.
Silver also surged on higher speculative off-take amidst industrial demand.
Standard gold (99.5 purity) rose by Rs 100 to end at Rs 29,980 per 10 grams from Tuesday\'s closing level of Rs 29,880.
Pure gold (99.9 purity) gained Rs 105 to conclude at Rs 30,115 per 10 grams from Rs 30,010 yesterday.
Silver ready (.999 fineness) zoomed by Rs 955 per kg to finish at Rs 54,370 as compared to Rs 53,415 previously.
In Europe, gold moved up in a listless trade amidst steady euro against the dollar on the back of investor cautiousness ahead of this week\'s European Central Bank meeting for further measures to tackle eurozone debt crisis.
Spot gold was bid up at USD 1,623.31 an ounce in early trade and silver was bid higher at USD 28.30 an ounce.
Source:http://www.indianexpress.com/news/gold-price-rebounds-on-renewed-demand-silver-also-surges/981964/
Tuesday, July 31, 2012
Monday, July 30, 2012
Gold, silver prices hold steady in thin trade
Both the precious metals, gold and silver, today held steady on restricted buying activity at prevailing higher price levels.
While gold closed flat at Rs 30,300 per 10 grams, silver traded at last close of Rs 53,000 per kg on reduced offtake by jewellers and industrial units at prevailing higher levels.
Traders said restricted buying activity at prevailing costly levels mainly kept the precious metals steady.
In the national capital, gold of 99.9 and 99.5 per centpurity remained steady at Rs 30,300 and Rs 30,100 per 10 grams, respectively. Sovereigns followed suit and ended unchanged at Rs 24,450 per piece of eight grams.
Similarly, silver-ready ruled steady at Rs 53,000 per kg, while weekly-based delivery declined by Rs 15 to Rs 53,235 per kg on lack of buying support.
Silver coins continued to be asked around previous level of Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.
Source:http://www.indianexpress.com/news/gold-silver-prices-hold-steady-in-thin-trade/981422/
While gold closed flat at Rs 30,300 per 10 grams, silver traded at last close of Rs 53,000 per kg on reduced offtake by jewellers and industrial units at prevailing higher levels.
Traders said restricted buying activity at prevailing costly levels mainly kept the precious metals steady.
In the national capital, gold of 99.9 and 99.5 per centpurity remained steady at Rs 30,300 and Rs 30,100 per 10 grams, respectively. Sovereigns followed suit and ended unchanged at Rs 24,450 per piece of eight grams.
Similarly, silver-ready ruled steady at Rs 53,000 per kg, while weekly-based delivery declined by Rs 15 to Rs 53,235 per kg on lack of buying support.
Silver coins continued to be asked around previous level of Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.
Source:http://www.indianexpress.com/news/gold-silver-prices-hold-steady-in-thin-trade/981422/
Saturday, July 28, 2012
Gold, silver prices fall on lower offtake
Gold prices declined modestly after witnessing a six-session uptrend at the domestic bullion market today due to reduced buying from retailers and investors.
Silver also slipped further on poor speculative interest amid subdued industrial demand.
Standard gold (99.5 purity) moved down by Rs 20 to end at Rs 29,890 per 10 grams from the overnight closing level of Rs 29,910.
Pure gold (99.9 purity) lost Rs 30 to close at Rs 30,030 per 10 grams from Rs 30,060.
Silver ready (.999 fineness) edged down by Rs 70 per kg to finish at Rs 53,330 compared to Friday’s close of Rs 53,400.
Meanwhile, gold continued to gain strength in overseas trade on expectations that central banks in the US and Europe will announce some stimulus measures at their meet next week.
Gold for August delivery gained $2.90 to settle at $1,618 an ounce on the Comex division of the NYMEX late yesterday.
September silver contract inched up marginally by 5 cents to $27.50 an ounce.
Source:http://www.thehindubusinessline.com/markets/commodities/article3696355.ece
Friday, July 27, 2012
Gold Prices Settle Higher on Comments from ECB President; Silver Prices also Gain Read more: http://fyxnews.com/smw/31343/Gold-Prices-Settle-Higher-o
Gold prices edged higher in trading on Thursday as comments from European Central Bank (ECB) President Mario Draghi lifted sentiments. Silver prices also edged higher on Thursday.
Speaking at an investment conference in London, Draghi said that the ECB was ready to do whatever it takes to protect the euro. Draghi said that the single currency was “irreversible”, and that the euro zone was much stronger than many acknowledged.
Spot gold prices rose 0.7% to $1,616 an ounce. Gold futures for delivery in August on the Comex division of the New York Mercantile Exchange rose $7 to settle at $1,615.10 an ounce.
Gold prices had posted their biggest one-day gain since late June in Wednesday’s trading session. The precious metal had risen on speculation that the ECB would lend directly to the euro zone’s rescue funds.
Gold has also gained on hopes that the Federal Reserve will implement additional easing measures to boost the U.S. economy.
In other precious metals, silver also rose on Thursday. At last check, spot silver was up 0.1% to $27 an ounce.
In late trading on Thursday, the iShares Silver Trust (ETF) (NYSE: SLV) was up 0.60%, the ProShares Ultra Silver (ETF) (NYSE: AGQ) was up 1.07%, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) was down 1.37%.
Platinum and palladium also rose on Thursday. At last check, spot platinum was trading 0.7% higher at $1,401 an ounce, while spot palladium was trading 1.2% higher at $569 an ounce.
Source: http://fyxnews.com/smw/31343/Gold-Prices-Settle-Higher-on-Comments-from-ECB-President-Silver-Prices-also-Gain-#ixzz21pDMBP24
Speaking at an investment conference in London, Draghi said that the ECB was ready to do whatever it takes to protect the euro. Draghi said that the single currency was “irreversible”, and that the euro zone was much stronger than many acknowledged.
Spot gold prices rose 0.7% to $1,616 an ounce. Gold futures for delivery in August on the Comex division of the New York Mercantile Exchange rose $7 to settle at $1,615.10 an ounce.
Gold prices had posted their biggest one-day gain since late June in Wednesday’s trading session. The precious metal had risen on speculation that the ECB would lend directly to the euro zone’s rescue funds.
Gold has also gained on hopes that the Federal Reserve will implement additional easing measures to boost the U.S. economy.
In other precious metals, silver also rose on Thursday. At last check, spot silver was up 0.1% to $27 an ounce.
In late trading on Thursday, the iShares Silver Trust (ETF) (NYSE: SLV) was up 0.60%, the ProShares Ultra Silver (ETF) (NYSE: AGQ) was up 1.07%, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) was down 1.37%.
Platinum and palladium also rose on Thursday. At last check, spot platinum was trading 0.7% higher at $1,401 an ounce, while spot palladium was trading 1.2% higher at $569 an ounce.
Source: http://fyxnews.com/smw/31343/Gold-Prices-Settle-Higher-on-Comments-from-ECB-President-Silver-Prices-also-Gain-#ixzz21pDMBP24
Gold prices slip by Rs 10, silver prices up Rs 50
After a six-day rally, gold prices declined marginally by Rs 10 to Rs 30,300 per 10 grams in the bullion market here today on fall in demand, while silver rose by Rs 50 to Rs 53,100 per kg on buying support.
Traders said gold fell due to reduced offtake at existing higher levels, while silver rose on sustained buying by industrial units.
On the domestic front, gold of 99.9 and 99.5 per cent purity shed Rs 10 each to Rs 30,300 and Rs 30,100 per 10 grams, respectively. The metal had gained Rs 680 in last six days.
Sovereign also declined by Rs 50 to Rs 24,450 per piece of eight grams.
Silver ready strengthened by Rs 50 to Rs 53,100 per kg, while weekly-based delivery fell by Rs 70 to Rs 53,280 per kg on lack of buying support.
Silver coins lost Rs 1,000 to Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces on fall in demand.
Source:http://www.indianexpress.com/news/gold-prices-slip-by-rs-10-silver-prices-up-rs-50/980273/
Thursday, July 26, 2012
Spot Silver Hits Intraday High Of $27.10, Nymex Crude Declines
European equities are trading on a positive note due to favourable data from the economy. Asian markets although closed on the bearish note and US stock Futures are trading with a positive bias ahead of favourable economic data from the economy in the evening. German Ifo Business Climate decline to 103.3 Mark in the month of July from previous rise of 105.3 level in June. While, UK’s preliminary Gross Domestic Product declined to 0.7 percent in Q2 as compared to 0.3 percent in Q1.
Spot gold prices increased by 0.5 percent today on account of mixed global market sentiments along with weakness in the dollar index (DX). The gold prices touched an intra-day high of $1589.86/oz and hovered around $1588.40/oz till 4:30pm IST today. On the MCX, Gold August contract gained by 0.5 percent after touching a high of Rs.29,729/10 gm and were trading around Rs.29,707/10 gms till 4:30 p.m today. In the Indian markets appreciation in the Indian rupee capped sharp gains.
Taking cues from firmness in gold and base metals prices, Spot silver prices gained by around 1 percent till 4:30 p.m today. Additionally, weakness in the DX also acted as a supportive factor for upside in the silver prices. In the Indian markets sharp gains were capped on the back of appreciation in the Indian rupee. The white metal touched an intraday high of $27.10/oz and hovered around $27.03/oz till 4:30p.m today. In the domestic markets prices improved by 0.27 percent and was trading around Rs.52,973/kg after touching a high of Rs.53,050/kg till 4:30 p.m in today’s trade.
The base metals pack traded on mixed note eyeing weakness in the DX along with decline in LME inventories. Copper, the leader of the base metals group increased 0.3 percent on the LME and hovered around $7,414/tonne today till 4:30pm IST. On the domestic front, prices improved by less than 1 percent and were trading around Rs.419.25/kg after touching an intraday high of Rs.421.20/kg today.
However, appreciation in the Indian rupee restricted sharp rise in prices on the MCX. Nymex crude oil prices declined around 0.03 percent today on the back of rising concerns of eurozone debt concerns will curb demand for fuel. However, weakness in the DX along with expected decline in the crude oil inventories cushioned sharp fall in the prices.
In the evening session, we expect precious metals, base metals and crude oil prices to trade with sideways with upward bias on the back of rise in the risk appetite in the global markets which will lead decline in demand for low yielding currency like DX and support upside in the commodities. Additionally, expected decline in the crude oil inventories might add to the gains of the commodity. However, if crude oil inventories come on the higher side prices might see a reversal on the downside.
Source:http://www.forexpros.com/analysis/spot-silver-hits-intraday-high-of-$27.10,-nymex-crude-declines-130937
Spot gold prices increased by 0.5 percent today on account of mixed global market sentiments along with weakness in the dollar index (DX). The gold prices touched an intra-day high of $1589.86/oz and hovered around $1588.40/oz till 4:30pm IST today. On the MCX, Gold August contract gained by 0.5 percent after touching a high of Rs.29,729/10 gm and were trading around Rs.29,707/10 gms till 4:30 p.m today. In the Indian markets appreciation in the Indian rupee capped sharp gains.
Taking cues from firmness in gold and base metals prices, Spot silver prices gained by around 1 percent till 4:30 p.m today. Additionally, weakness in the DX also acted as a supportive factor for upside in the silver prices. In the Indian markets sharp gains were capped on the back of appreciation in the Indian rupee. The white metal touched an intraday high of $27.10/oz and hovered around $27.03/oz till 4:30p.m today. In the domestic markets prices improved by 0.27 percent and was trading around Rs.52,973/kg after touching a high of Rs.53,050/kg till 4:30 p.m in today’s trade.
The base metals pack traded on mixed note eyeing weakness in the DX along with decline in LME inventories. Copper, the leader of the base metals group increased 0.3 percent on the LME and hovered around $7,414/tonne today till 4:30pm IST. On the domestic front, prices improved by less than 1 percent and were trading around Rs.419.25/kg after touching an intraday high of Rs.421.20/kg today.
However, appreciation in the Indian rupee restricted sharp rise in prices on the MCX. Nymex crude oil prices declined around 0.03 percent today on the back of rising concerns of eurozone debt concerns will curb demand for fuel. However, weakness in the DX along with expected decline in the crude oil inventories cushioned sharp fall in the prices.
In the evening session, we expect precious metals, base metals and crude oil prices to trade with sideways with upward bias on the back of rise in the risk appetite in the global markets which will lead decline in demand for low yielding currency like DX and support upside in the commodities. Additionally, expected decline in the crude oil inventories might add to the gains of the commodity. However, if crude oil inventories come on the higher side prices might see a reversal on the downside.
Source:http://www.forexpros.com/analysis/spot-silver-hits-intraday-high-of-$27.10,-nymex-crude-declines-130937
Gold prices rise further; up Rs 150
Gold today rose for the sixth straight session and gained Rs 150 to Rs 30,310 per 10 grams on sustained buying ahead of the festive and marriage season amid a firming global trend.
Silver followed suit and extended gains for the second day by adding Rs 400 to Rs 53,050 per kg on increased offtake by industrial units and coin makers.
The trading sentiment in precious metals remained bullish as stockists and jewellers remained net buyers for the metal to meet the upcoming festive and marriage season demand, traders said.
They said in the global markets, gold gained the most in more than three weeks on speculation that European leaders may take further steps to tame the debt crisis also bolstered the sentiment.
In New York, gold shot up by USD 23.70 to USD 1,604.80 an ounce and silver by 1.41 per cent to USD 27.34 an ounce.
Some funds seen shifting from weakening equities to firming bullion was another supporting factor for the bullion.in the domestic front, gold of 99.9 and 99.5 per cent purity advanced by Rs 150 to Rs 30,310 and Rs 30,110 per 10 grams, respectively. The metal had gained Rs 530 in last five trading sessions. Sovereigns rose by Rs 50 to Rs 24,500 per piece of eight grams.
Similarly, silver ready surged by Rs 400 to Rs 53,050 per kg and weekly-based delivery by Rs 380 to Rs 53,350 per kg. It had gained Rs 100 yesterday.
Silver coins also spurted by Rs 1,000 to Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces on upsurge in festive demand.
Source:http://www.indianexpress.com/news/gold-prices-rise-further;-up-rs-150/979802/
Silver followed suit and extended gains for the second day by adding Rs 400 to Rs 53,050 per kg on increased offtake by industrial units and coin makers.
The trading sentiment in precious metals remained bullish as stockists and jewellers remained net buyers for the metal to meet the upcoming festive and marriage season demand, traders said.
They said in the global markets, gold gained the most in more than three weeks on speculation that European leaders may take further steps to tame the debt crisis also bolstered the sentiment.
In New York, gold shot up by USD 23.70 to USD 1,604.80 an ounce and silver by 1.41 per cent to USD 27.34 an ounce.
Some funds seen shifting from weakening equities to firming bullion was another supporting factor for the bullion.in the domestic front, gold of 99.9 and 99.5 per cent purity advanced by Rs 150 to Rs 30,310 and Rs 30,110 per 10 grams, respectively. The metal had gained Rs 530 in last five trading sessions. Sovereigns rose by Rs 50 to Rs 24,500 per piece of eight grams.
Similarly, silver ready surged by Rs 400 to Rs 53,050 per kg and weekly-based delivery by Rs 380 to Rs 53,350 per kg. It had gained Rs 100 yesterday.
Silver coins also spurted by Rs 1,000 to Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces on upsurge in festive demand.
Source:http://www.indianexpress.com/news/gold-prices-rise-further;-up-rs-150/979802/
Wednesday, July 25, 2012
Silver future prices up on spot demand
Silver futures prices today rose by Rs 152 to Rs 52,980 per kg on pick-up in demand in the spot market supported by festive season amid a firm global trend.
At the Multi Commodity Exchange, silver for delivery in September rose by Rs 152, or 0.29 per cent to Rs 52,980 per kg in business turnover of 5,843 lots.
Similarly, the white metal for delivery in December gained Rs 147, or 0.27 per cent, to Rs 54,695 per kg in 237 lots.
Analysts said besides pick up in demand in the spot market following festive season, a firm global trend mainly led to rise in silver futures.
Meanwhile, silver rose 0.3 per cent to USD 27.06 an ounce in Singapore.
Source:http://www.indianexpress.com/news/silver-future-prices-up-on-spot-demand/979247/
Silver futures up on spot demand, global cues
Silver futures prices today rose by Rs 152 to Rs 52,980 per kg on pick-up in demand in the spot market supported by festive season amid a firm global trend.
At the Multi Commodity Exchange, silver for delivery in September rose by Rs 152, or 0.29 per cent to Rs 52,980 per kg in business turnover of 5,843 lots.
Similarly, the white metal for delivery in December gained Rs 147, or 0.27 per cent, to Rs 54,695 per kg in 237 lots.
Analysts said besides pick up in demand in the spot market following festive season, a firm global trend mainly led to rise in silver futures.
Meanwhile, silver rose 0.3 per cent to USD 27.06 an ounce in Singapore.
Source:http://economictimes.indiatimes.com/markets/commodities/silver-futures-up-on-spot-demand-global-cues/articleshow/15140779.cms
At the Multi Commodity Exchange, silver for delivery in September rose by Rs 152, or 0.29 per cent to Rs 52,980 per kg in business turnover of 5,843 lots.
Similarly, the white metal for delivery in December gained Rs 147, or 0.27 per cent, to Rs 54,695 per kg in 237 lots.
Analysts said besides pick up in demand in the spot market following festive season, a firm global trend mainly led to rise in silver futures.
Meanwhile, silver rose 0.3 per cent to USD 27.06 an ounce in Singapore.
Source:http://economictimes.indiatimes.com/markets/commodities/silver-futures-up-on-spot-demand-global-cues/articleshow/15140779.cms
Tuesday, July 24, 2012
Gold prices rise on festive demand
Gold prices continued to rise for the fourth-straight day by gaining Rs 100 to Rs 29,900 per 10 gm in the national capital today on increased buying by stockists and jewellers to meet the ongoing festival season demand amid a firming global trend.
Silver followed suit and recovered by Rs 250 to Rs 52,550 per kg on increased offtake by industrial units and coin makers.
Market analysts said increased buying by stockists and jewellers to meet the festive season demand mainly led to rise in both gold and silver prices.
Firming global trend where gold advances on deepening euro zone debt crisis after Moody's Investors Service cut the outlooks for Germany, Netherlands and Luxembourg to negative, boosted demand for the metal as a safe haven, they said.
Gold in global markets, which normally set price trend on the domestic front, rose 0.2 per cent to USD 1,579.73 an ounce and silver by 0.3 per cent to USD 27.11 an ounce in Singapore.
On the domestic front, gold of 99.9 and 99.5 per cent purity advanced by Rs 100 each to Rs 29,900 and Rs 29,700 per 10 gm, respectively. The metal had gained Rs 170 in the previous three sessions. Sovereign rose by Rs 50 to Rs 24,400 per piece of eight gram.
In line with the general firming trend, silver ready recovered by Rs 250 to Rs 52,550 per kg while weekly-based delivery by Rs 70 to Rs 52,785 per kg. It had lost Rs 150 yesterday.
However, silver coin remained steady at Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.
Source:http://www.business-standard.com/generalnews/news/gold-prices-risefestive-demand/36069/
Silver followed suit and recovered by Rs 250 to Rs 52,550 per kg on increased offtake by industrial units and coin makers.
Market analysts said increased buying by stockists and jewellers to meet the festive season demand mainly led to rise in both gold and silver prices.
Firming global trend where gold advances on deepening euro zone debt crisis after Moody's Investors Service cut the outlooks for Germany, Netherlands and Luxembourg to negative, boosted demand for the metal as a safe haven, they said.
Gold in global markets, which normally set price trend on the domestic front, rose 0.2 per cent to USD 1,579.73 an ounce and silver by 0.3 per cent to USD 27.11 an ounce in Singapore.
On the domestic front, gold of 99.9 and 99.5 per cent purity advanced by Rs 100 each to Rs 29,900 and Rs 29,700 per 10 gm, respectively. The metal had gained Rs 170 in the previous three sessions. Sovereign rose by Rs 50 to Rs 24,400 per piece of eight gram.
In line with the general firming trend, silver ready recovered by Rs 250 to Rs 52,550 per kg while weekly-based delivery by Rs 70 to Rs 52,785 per kg. It had lost Rs 150 yesterday.
However, silver coin remained steady at Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.
Source:http://www.business-standard.com/generalnews/news/gold-prices-risefestive-demand/36069/
Monday, July 23, 2012
Silver Stocks Look to Rebound as Silver Prices Benefiting From Increased Demand
Silver Stocks Look to Rebound as Silver Prices Benefiting From Increased Demand
http://media.marketwire.com/attachments/201203/31465_38273_FiveStar_logo-colour.jpghttp://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=911656&ProfileId=051205&sourceType=1
NEW YORK, NY -- (Marketwire) -- 07/23/12 -- After a strong start to the year, silver stocks have faltered in recent months as prices for the metal have struggled to gain any upwards momentum. The Global X Silver Miners ETF (SIL) has fallen over 15 percent in the last three months, while the iShares Silver Trust ETF (SLV) 14 percent over the same period. "The slide in silver prices mirrors the stubbornly sluggish global economy, and the strength of the U.S. dollar," said Keith Newcomb, portfolio manager at Full Life Financial LLC. Five Star Equities examines the outlook for companies in the Silver Industry and provides equity research on Silver Wheaton Corp. (NYSE: SLW) (TSX: SLW) and Silvercorp Metals Inc. (NYSE: SVM) (TSX: SVM).
Access to the full company reports can be found at:
www.FiveStarEquities.com/SLW
www.FiveStarEquities.com/SVM
Silver has recently been benefitting from increased demand according to Commerzbank. In a recent note, the bank stated that holdings in silver exchange-traded funds, 575.1 million troy ounces, were at their highest levels since May of last year. Silver futures on Friday settled at $27.217 a troy ounce. "Investors clearly view silver's current price level of $27 per troy ounce as an attractive opportunity to buy, which means higher silver prices can be expected," the bank said.
Five Star Equities releases regular market updates on the Silver Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
Silver Wheaton has 14 long-term silver purchase agreements and 2 long-term precious metal purchase agreements whereby it acquires silver and gold production from the counterparties located in Mexico, the United States, Canada, Greece, Sweden, Peru, Chile, Argentina, and Portugal.
Silvercorp Metals Inc. engages in the acquisition, exploration, development, and operation of silver mineral properties in China and Canada. In late January the company received a positive Pre-Feasibility Study ("PFS") for its 95%-owned GC Project in Guangdong Province, China.
Source:http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8568878
http://media.marketwire.com/attachments/201203/31465_38273_FiveStar_logo-colour.jpghttp://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=911656&ProfileId=051205&sourceType=1
NEW YORK, NY -- (Marketwire) -- 07/23/12 -- After a strong start to the year, silver stocks have faltered in recent months as prices for the metal have struggled to gain any upwards momentum. The Global X Silver Miners ETF (SIL) has fallen over 15 percent in the last three months, while the iShares Silver Trust ETF (SLV) 14 percent over the same period. "The slide in silver prices mirrors the stubbornly sluggish global economy, and the strength of the U.S. dollar," said Keith Newcomb, portfolio manager at Full Life Financial LLC. Five Star Equities examines the outlook for companies in the Silver Industry and provides equity research on Silver Wheaton Corp. (NYSE: SLW) (TSX: SLW) and Silvercorp Metals Inc. (NYSE: SVM) (TSX: SVM).
Access to the full company reports can be found at:
www.FiveStarEquities.com/SLW
www.FiveStarEquities.com/SVM
Silver has recently been benefitting from increased demand according to Commerzbank. In a recent note, the bank stated that holdings in silver exchange-traded funds, 575.1 million troy ounces, were at their highest levels since May of last year. Silver futures on Friday settled at $27.217 a troy ounce. "Investors clearly view silver's current price level of $27 per troy ounce as an attractive opportunity to buy, which means higher silver prices can be expected," the bank said.
Five Star Equities releases regular market updates on the Silver Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
Silver Wheaton has 14 long-term silver purchase agreements and 2 long-term precious metal purchase agreements whereby it acquires silver and gold production from the counterparties located in Mexico, the United States, Canada, Greece, Sweden, Peru, Chile, Argentina, and Portugal.
Silvercorp Metals Inc. engages in the acquisition, exploration, development, and operation of silver mineral properties in China and Canada. In late January the company received a positive Pre-Feasibility Study ("PFS") for its 95%-owned GC Project in Guangdong Province, China.
Source:http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8568878
Saturday, July 21, 2012
Gold price up by Rs 50, silver Rs 200 on global cues
Gold rose for the second day in a row by adding Rs 50 to Rs 29,700 per 10 grams in the bullion market here today on good demand amid a firming global trend while silver gained Rs 200 to Rs 52,450 per kg on increased offtake by industrial units.
Traders said buying in gold picked up after the metal gained in global markets as Russia's central bank increased holdings of the precious metal.
In New York, gold rose by USD 2.30 to USD 1,584 an ounce and silver by 0.18 per cent to USD 27.33 an ounce.
In addition, buying by stockists and jewellers for the coming festival and wedding season also led to a rise in prices of the precious metals.
On the domestic front, gold of 99.9 and 99.5 per cent purity advanced by Rs 50 each to Rs 29,700 and Rs 29,500 per 10 grams, respectively. It had gained Rs 20 yesterday.
Sovereign continued to be asked around previous level of Rs 24,350 per piece of eight grams in scattered deals.
In line with a general firming trend, silver ready recovered by Rs 200 to Rs 52,450 per kg and weekly-based delivery by Rs 165 to Rs 52,830 per kg. The white metal had lost Rs 300 in the previous session.
Silver coins remained steady at Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.
Source:http://www.indianexpress.com/news/gold-price-up-by-rs-50-silver-rs-200-on-global-cues/977568/
Friday, July 20, 2012
Gold, silver lose shine to copper
Copper, which is considered the bellwether for global economy, has fared better than gold and silver globally so far this year.
According to marketwatch.com, Copper futures HGU2 have climbed about 2.7 per cent on the Comex division of the New York Mercantile Exchange since the end of last year as compared to 0.9 per cent rise in gold futures GCQ2 and a fall of about 2.5 per cent in silver futures SIU2.
The resilience of copper prices in the face renewed concerns of global growth may be a signal that investors are hoping for better times ahead.
On the other hand, gold and silver prices have been muted as the US Federal Reserve has not yet announced any fresh quantitative easing, keeping gold and silver bulls at bay.
Despite the slow recovery of the US economy, its housing sector has shown signs of being bottoming out. On the other hand, many analysts hope that the Chinese economy would pick up in the second half of the year with its housing sector too bottoming out.
Gold demand has been muted so far this year in India, putting pressure on its price.
Source:http://businesstoday.intoday.in/story/gold-copper-silver-price/1/186449.html
Thursday, July 19, 2012
Gold prices remain weak on subdued demand, silver up
Gold prices remained weak for the second straight day by losing Rs 55 to Rs 29,630 per 10 gm in the national capital on Thursday on subdued demand at existing higher levels and a weak global trend.
However, silver found fresh buying support from industrial units and coin makers and recovered by Rs 150 to Rs 52,550 per kg.
Traders said subdued demand at existing higher levels and a lower trend in New York mainly kept gold prices remained weak while silver recovered on industrial units and coin makers.
SPECIAL: Tired of investing in gold? Try platinum
Gold in New York, which normally set price trend on the domestic front, fell by $8.90 to $1573.50 an ounce last night.
On the domestic front, gold of 99.9 and 99.5 per cent purity fell further by Rs 55 each to Rs 29,630 and Rs 29,430 per 10 gm, respectively. It had lost Rs 85 on Wednesday.
Sovereign remained steady at Rs 24,350 per piece of eight gram.
On the other hand, silver ready recovered by Rs 150 to Rs 52,550 per kg and weekly-based delivery by Rs 215 to Rs 52,940 per kg. The white metal had lost Rs 100 in the previous session.
Silver coins also spurted by Rs 1000 to Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.
Source:http://businesstoday.intoday.in/story/gold-prices-remain-weak-on-subdued-demand-silver-up-july-19/1/186426.html
Wednesday, July 18, 2012
Silver futures decline on global trend
Silver prices edged lower by 0.34 per cent to Rs 52,712 per kg in futures trade today as speculators reduced positions tracking a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in September traded Rs 178, or 0.34 per cent, lower at Rs 52,712 per kg, with a business turnover of 2,285 lots.
Likewise, the white metal for delivery in December lost Rs 157, or 0.29 per cent, to Rs 54,436 per kg, with a business turnover of 136 lots.
Market analysts attributed the fall in silver futures to a weakening trend in global markets after Federal Reserve provided no specific plans for boosting growth in the US, curbed demand for the precious metals.
Meanwhile, silver traded 0.50 per cent lower at USD 27.17 in Singapore.
Source:http://economictimes.indiatimes.com/markets/commodities/silver-futures-decline-on-global-trend/articleshow/15029216.cms
At the Multi Commodity Exchange, silver for delivery in September traded Rs 178, or 0.34 per cent, lower at Rs 52,712 per kg, with a business turnover of 2,285 lots.
Likewise, the white metal for delivery in December lost Rs 157, or 0.29 per cent, to Rs 54,436 per kg, with a business turnover of 136 lots.
Market analysts attributed the fall in silver futures to a weakening trend in global markets after Federal Reserve provided no specific plans for boosting growth in the US, curbed demand for the precious metals.
Meanwhile, silver traded 0.50 per cent lower at USD 27.17 in Singapore.
Source:http://economictimes.indiatimes.com/markets/commodities/silver-futures-decline-on-global-trend/articleshow/15029216.cms
Tuesday, July 17, 2012
Precious, base metals, crude may trade with a positive note
Angel Commodities has come out with its report on international commodities. According to the research firm, precious metals, base metals and crude oil prices are expected to trade with a positive note on the back of rise in risk appetite ahead of Federal Reserve testimony which might hint stimulus measures to boost the economic growth along with weakness in the DX.
US crude oil inventories expected to decline 5,00,000 bbl Reuters.
German ZEW economic sentiments declined to -19.6-mark in July.
European equities are trading on a positive note on account of speculation that Federal Reserve Chairman might hint stimulus measures to boost the world largest economy. Indian markets ended lower and US stock futures are trading in the green.
Spot gold prices increased around 0.3% today on the back of rise in risk appetite in the global markets. Additionally, weakness in the US Dollar Index (DX) also supported upside in the gold prices. The yellow metal touched an intra-day high of $1,599/oz and hovered around $1594.09/oz today till 4:30pm IST. On the MCX, Gold August contract traded on a firm note and was trading around Rs.29,355/10 gms today.
Taking cues from strength in the gold prices amidst speculation of possible stimulus measures by the Federal Reserve led Silver prices to trade on positive note up 0.7% today. Further, weakness in the DX is also supportive for the white metal prices. Silver prices touched intra-day high of $27.62/oz and are trading around $27.44/oz today. In the Indian markets prices increased by 0.5% and hovered around Rs.52,995 /kg and touched an intra-day high of Rs.52,413/kg till 4:30pm IST today.
The base metals pack traded on a mixed note today on the back of upbeat global market sentiments along with weakness in the DX. Copper, the leader of the base metals traded rangebound and are currently 0.05% down today on account of rise in the LME inventories. However, weakness in the DX cushioned sharp fall in the prices.
The red metal touched an intra-day low of $7,670/tonne and hovered around $7,692/tonne today till 4:30pm IST. In the domestic markets, prices improved around 0.3% and were trading around Rs.426.5 /kg today. Appreciation in the Indian Rupee restricted sharp rise in the prices on the MCX.
Nymex crude oil prices increased around 0.3% today on account of concerns that tensions with Iran will worsen and expectation of lower US crude oil supplies along with speculation that the US Federal reserve might hint stimulus measures to the augment the economy. Additionally, a weaker DX also supported upside in the crude oil prices. On the domestic bourses, prices traded on a positive note up 1.3% and are trading around Rs.4,879/bbl till 4:30 p.m today.
U.S. commercial crude oil stockpiles were projected down for last week due to higher refinery utilization, and increases in petroleum products according to Reuter’s poll.
Outlook
In the evening session, we expect precious metals, base metals and crude oil prices to trade with a positive note on the back of rise in risk appetite ahead of Federal Reserve testimony which might hint stimulus measures to boost the economic growth along with weakness in the DX.
Source:http://www.moneycontrol.com/news/brokerage-recos-commodities/precious-base-metals-crude-may-tradea-positive-note_731662.html
Gold, silver recover prices at close
Gold recovered by Rs 165 to Rs 29,770 per 10 grams in the bullion market in New Delhi on Tuesday after three days of losses on good demand amid firm global cues.
Silver also moved up by Rs 100 to Rs 52,500 per kg on increased offtake by industrial units and coin makers.
Fresh buying by stockists and jewellers for the coming wedding season supported the uptrend in both gold and silver prices, traders said.
They added buying activity in gold picked up after the metal rose in the overseas markets amid speculation that Federal Reserve Chairman Ben S Bernanke may hint at additional monetary easing when he delivers testimony today.
In London, gold rose 0.3 per cent to USD 1,594.30 an ounce and silver by 0.7 per cent to USD 27.51 an ounce.
On the domestic front, gold of 99.9 and 99.5 per cent purity shot up by Rs 165 each to Rs 29,770 and Rs 29,570 per 10 grams, respectively. The metal lost Rs 115 in the last three trading days.
Sovereign remained flat at Rs 24,400 per piece of eight grams on limited deals.
Silver ready rose by Rs 100 to Rs 52,500 per kg and weekly-based delivery by Rs 280 to Rs 52,870 per kg.
Silver coins spurted by Rs 1,000 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces on account of festive demand.
Source:http://english.samaylive.com/business-news/676508899/gold-silver-recover-prices-at-close.html
Silver also moved up by Rs 100 to Rs 52,500 per kg on increased offtake by industrial units and coin makers.
Fresh buying by stockists and jewellers for the coming wedding season supported the uptrend in both gold and silver prices, traders said.
They added buying activity in gold picked up after the metal rose in the overseas markets amid speculation that Federal Reserve Chairman Ben S Bernanke may hint at additional monetary easing when he delivers testimony today.
In London, gold rose 0.3 per cent to USD 1,594.30 an ounce and silver by 0.7 per cent to USD 27.51 an ounce.
On the domestic front, gold of 99.9 and 99.5 per cent purity shot up by Rs 165 each to Rs 29,770 and Rs 29,570 per 10 grams, respectively. The metal lost Rs 115 in the last three trading days.
Sovereign remained flat at Rs 24,400 per piece of eight grams on limited deals.
Silver ready rose by Rs 100 to Rs 52,500 per kg and weekly-based delivery by Rs 280 to Rs 52,870 per kg.
Silver coins spurted by Rs 1,000 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces on account of festive demand.
Source:http://english.samaylive.com/business-news/676508899/gold-silver-recover-prices-at-close.html
Monday, July 16, 2012
Liberty Silver Announces Offer for Sennen Resources
Liberty Silver Corp. (TSX:LSL)(OTCBB:LBSV) today announced an offer to acquire all the outstanding common shares of Sennen Resources Ltd. (TSX VENTURE:SN), a junior mineral exploration company.
Under the offer, Sennen shareholders will receive 0.28 of a Liberty Silver common share for each Sennen common share, being an implied offer price per Sennen common share of $0.20. The offer represents a premium of 47.3% to the 20-day volume weighted average trading price ended July 13, 2012, being $0.135. This is also larger in comparison to the average take-over bid premium paid for mining companies listed on the Toronto Stock Exchange and TSX Venture Exchange over the past 12 months of 34.8%. The offer is valued at $13.36 million.
According to Liberty Silver's estimates, the acquisition of Sennen and its financial resources at the offer price is comparable to Liberty Silver completing a private placement of its common shares at approximately $0.71.
Benefits of the offer to Sennen shareholders:
-- The offer price represents a significant premium above Sennen's current
trading price.
-- Liberty Silver has an experienced management team and independent board
of directors.
-- Sennen shareholders are expected to benefit from Liberty Silver's
accretive and low-risk acquisition and consolidation strategy.
-- Sennen shareholders will receive more liquid Liberty Silver common
shares, which trade on the TSX main board.
-- Sennen shareholders will share in the future success of Liberty Silver's
Trinity Silver Project in mining-friendly Pershing County, Nevada.
-- Liberty Silver adheres to a strict discipline of risk mitigation. It
aims to find and develop mineral exploration properties that provide the
best opportunity for success with the least amount of risk. The success
of this strategy has already been proven with the Trinity Silver
Project. In contrast, Sennen has a recent history that includes
acquiring projects, spending significant amounts of money on the
projects, and subsequently withdrawing.
For full details of these benefits, go to the "Question-and-Answer" section of Liberty Silver's take-over-bid circular, filed today on SEDAR at www.sedar.com.
"Sennen represents a great opportunity for Liberty Silver at a time of growing consolidation in the global mining industry", Geoff Browne, Liberty Silver's chief executive officer, said. "Depressed valuations for junior mining companies alongside healthy precious metal prices have created an environment ideal for mergers and acquisitions activity."
Mr. Browne added: "Liberty Silver is well-placed to take advantage of these opportunities using our mitigated-risk approach to project evaluation and development. We are confident that the combination of Sennen's cash resources and Liberty Silver's skilled management team and proven risk-mitigation strategy will enable us to advance our promising Trinity Silver project in Nevada and to identify other low-risk projects."
The offer will be made by way of formal take-over-bid circular to be mailed to Sennen shareholders and will be subject to various conditions, including receipt of all required regulatory approvals and not less than 66 2/3% of the Sennen common shares being deposited under the offer and not withdrawn. Further details concerning the offer will be included in the formal offer and take-over-bid circular.
If the transaction is completed, Liberty Silver intends to replace the board and management of Sennen and Sennen's common shares will be delisted from the TSX Venture Exchange.
Liberty Silver has an experienced board of directors comprised of sophisticated and highly-accomplished individuals. Their collective experience and expertise sets Liberty Silver apart from its peers. The eight- member board includes Paul Haggis, one of Canada's most prominent and respected business leaders. Mr. Haggis was recently named chairman of Canadian Pacific Railway Ltd. Mr. Browne, Liberty Silver's chairman and CEO, has over 35 years of experience in the financial services industry in Canada, the U.S. and the U.K.
"From an investor's perspective, one critical difference between the management teams of Liberty Silver and Sennen is their personal stakes in their respective companies", Mr. Browne said. "Our board and management collectively own approximately 30% of Liberty's outstanding common shares, while Sennen's board and management appear to collectively hold less than 8% of their company's equity."
Sennen's principal asset is its cash reserves, and it also has an option on the 10,000-acre Hope Bay Oro gold property in Nunavut, Canada. Sennen is currently funding the property as part of an option agreement with North Arrow Minerals Inc., under which Sennen would earn a 60% interest by financing a $5 million exploration program over five years.
Hope Bay Oro adjoins the Doris North mine property owned by Hope Bay Mining Ltd., a wholly-owned subsidiary of Newmont Mining Corporation. Newmont recently incurred a significant write-down on the project and placed it on care and maintenance after evaluating its economic feasibility.
Mr. Browne said: "Given recent developments pertaining to other higher profile projects in the area, we will carefully review the Hope Bay Oro project using our mitigated-risk approach to determine whether the project fits our business plan."
About Liberty Silver
Liberty Silver Corp. is focused on exploring and developing mineral properties in North America. The company is committed to creating value for its shareholders by advancing its projects using its mitigated risk approach to production, developing new resources on its existing properties, and acquiring new properties with potential to expand their resource base. The Trinity Silver property in Pershing County, Nevada is the company's flagship project. Liberty Silver has the right to earn a joint venture interest in the 10,476 acre Trinity property from Renaissance Gold Inc. For more information, go to www.libertysilvercorp.com.
Byron Capital Markets Ltd. is acting as financial advisor to Liberty Silver and dealer manager in respect of the proposed take-over offer. Borden Ladner Gervais LLP is acting as Liberty Silver's legal counsel.
This press release does not constitute an offer to buy or an invitation to sell, or the solicitation of an offer to buy or invitation to sell, any securities of Liberty Silver or Sennen. Such an offer may only be made pursuant to an offer and take-over bid circular filed with the securities regulatory authorities in Canada and pursuant to registration or qualification under the securities laws of any other such jurisdiction. Investors may obtain a free copy of the offer and take-over bid circular, when they become available and other documents filed by Liberty Silver with the Canadian provincial securities regulators on SEDAR at www.sedar.com, and with the SEC at the SEC's website at www.sec.gov. The offer and take-over bid circular and these other documents may also be obtained for free, once they have been mailed, on Liberty Silver's website. Free copies of any such documents could also be obtained by directing a request to Liberty Silver at Suite 2330, 181 Bay Street, Toronto, Ontario, Canada, M5J 2T3.
Source:http://www.canadianminingjournal.com/press-releases/story.aspx?id=1001540382
Under the offer, Sennen shareholders will receive 0.28 of a Liberty Silver common share for each Sennen common share, being an implied offer price per Sennen common share of $0.20. The offer represents a premium of 47.3% to the 20-day volume weighted average trading price ended July 13, 2012, being $0.135. This is also larger in comparison to the average take-over bid premium paid for mining companies listed on the Toronto Stock Exchange and TSX Venture Exchange over the past 12 months of 34.8%. The offer is valued at $13.36 million.
According to Liberty Silver's estimates, the acquisition of Sennen and its financial resources at the offer price is comparable to Liberty Silver completing a private placement of its common shares at approximately $0.71.
Benefits of the offer to Sennen shareholders:
-- The offer price represents a significant premium above Sennen's current
trading price.
-- Liberty Silver has an experienced management team and independent board
of directors.
-- Sennen shareholders are expected to benefit from Liberty Silver's
accretive and low-risk acquisition and consolidation strategy.
-- Sennen shareholders will receive more liquid Liberty Silver common
shares, which trade on the TSX main board.
-- Sennen shareholders will share in the future success of Liberty Silver's
Trinity Silver Project in mining-friendly Pershing County, Nevada.
-- Liberty Silver adheres to a strict discipline of risk mitigation. It
aims to find and develop mineral exploration properties that provide the
best opportunity for success with the least amount of risk. The success
of this strategy has already been proven with the Trinity Silver
Project. In contrast, Sennen has a recent history that includes
acquiring projects, spending significant amounts of money on the
projects, and subsequently withdrawing.
For full details of these benefits, go to the "Question-and-Answer" section of Liberty Silver's take-over-bid circular, filed today on SEDAR at www.sedar.com.
"Sennen represents a great opportunity for Liberty Silver at a time of growing consolidation in the global mining industry", Geoff Browne, Liberty Silver's chief executive officer, said. "Depressed valuations for junior mining companies alongside healthy precious metal prices have created an environment ideal for mergers and acquisitions activity."
Mr. Browne added: "Liberty Silver is well-placed to take advantage of these opportunities using our mitigated-risk approach to project evaluation and development. We are confident that the combination of Sennen's cash resources and Liberty Silver's skilled management team and proven risk-mitigation strategy will enable us to advance our promising Trinity Silver project in Nevada and to identify other low-risk projects."
The offer will be made by way of formal take-over-bid circular to be mailed to Sennen shareholders and will be subject to various conditions, including receipt of all required regulatory approvals and not less than 66 2/3% of the Sennen common shares being deposited under the offer and not withdrawn. Further details concerning the offer will be included in the formal offer and take-over-bid circular.
If the transaction is completed, Liberty Silver intends to replace the board and management of Sennen and Sennen's common shares will be delisted from the TSX Venture Exchange.
Liberty Silver has an experienced board of directors comprised of sophisticated and highly-accomplished individuals. Their collective experience and expertise sets Liberty Silver apart from its peers. The eight- member board includes Paul Haggis, one of Canada's most prominent and respected business leaders. Mr. Haggis was recently named chairman of Canadian Pacific Railway Ltd. Mr. Browne, Liberty Silver's chairman and CEO, has over 35 years of experience in the financial services industry in Canada, the U.S. and the U.K.
"From an investor's perspective, one critical difference between the management teams of Liberty Silver and Sennen is their personal stakes in their respective companies", Mr. Browne said. "Our board and management collectively own approximately 30% of Liberty's outstanding common shares, while Sennen's board and management appear to collectively hold less than 8% of their company's equity."
Sennen's principal asset is its cash reserves, and it also has an option on the 10,000-acre Hope Bay Oro gold property in Nunavut, Canada. Sennen is currently funding the property as part of an option agreement with North Arrow Minerals Inc., under which Sennen would earn a 60% interest by financing a $5 million exploration program over five years.
Hope Bay Oro adjoins the Doris North mine property owned by Hope Bay Mining Ltd., a wholly-owned subsidiary of Newmont Mining Corporation. Newmont recently incurred a significant write-down on the project and placed it on care and maintenance after evaluating its economic feasibility.
Mr. Browne said: "Given recent developments pertaining to other higher profile projects in the area, we will carefully review the Hope Bay Oro project using our mitigated-risk approach to determine whether the project fits our business plan."
About Liberty Silver
Liberty Silver Corp. is focused on exploring and developing mineral properties in North America. The company is committed to creating value for its shareholders by advancing its projects using its mitigated risk approach to production, developing new resources on its existing properties, and acquiring new properties with potential to expand their resource base. The Trinity Silver property in Pershing County, Nevada is the company's flagship project. Liberty Silver has the right to earn a joint venture interest in the 10,476 acre Trinity property from Renaissance Gold Inc. For more information, go to www.libertysilvercorp.com.
Byron Capital Markets Ltd. is acting as financial advisor to Liberty Silver and dealer manager in respect of the proposed take-over offer. Borden Ladner Gervais LLP is acting as Liberty Silver's legal counsel.
This press release does not constitute an offer to buy or an invitation to sell, or the solicitation of an offer to buy or invitation to sell, any securities of Liberty Silver or Sennen. Such an offer may only be made pursuant to an offer and take-over bid circular filed with the securities regulatory authorities in Canada and pursuant to registration or qualification under the securities laws of any other such jurisdiction. Investors may obtain a free copy of the offer and take-over bid circular, when they become available and other documents filed by Liberty Silver with the Canadian provincial securities regulators on SEDAR at www.sedar.com, and with the SEC at the SEC's website at www.sec.gov. The offer and take-over bid circular and these other documents may also be obtained for free, once they have been mailed, on Liberty Silver's website. Free copies of any such documents could also be obtained by directing a request to Liberty Silver at Suite 2330, 181 Bay Street, Toronto, Ontario, Canada, M5J 2T3.
Source:http://www.canadianminingjournal.com/press-releases/story.aspx?id=1001540382
Today’s Gold price per ounce Spot gold price per gram; Silver price per ounce Live Trend Review July 16, 2012
More traders looked to diversify with precious metals gold and silver as the last week of trading came to a close. The primary stock indices closed on positive ground, and so did contract floor prices for gold and silver.
August contract gold finished the last full trading session up by 1.7 percent at $1,592.00 per troy ounce. Precious metal gold price change over the course of the last five full trading sessions was positive by .8 percent overall. Silver contract for September delivery finished the last trading session higher by .8 percent to close with a floor price of $27.37 per troy ounce. Silver price change over the course of the last five trading sessions was positive by 1.7 percent. Precious metal prices could benefit further this week as talks of economic slowdown persist and rumors heat up again that the Feds might now consider additional economic stimulus measures in the U.S. Right now, both gold and silver price trend change over the course of the last month is negative. One month price change for gold is negative by 1.92 percent and one month price change for silver is currently negative by approximately 4.63 percent.
Source:http://www.learningandfinance.com/2012/07/16/todays-gold-price-per-ounce-spot-gold-price-per-gram-silver-price-per-ounce-live-trend-review-july-16-2012/
August contract gold finished the last full trading session up by 1.7 percent at $1,592.00 per troy ounce. Precious metal gold price change over the course of the last five full trading sessions was positive by .8 percent overall. Silver contract for September delivery finished the last trading session higher by .8 percent to close with a floor price of $27.37 per troy ounce. Silver price change over the course of the last five trading sessions was positive by 1.7 percent. Precious metal prices could benefit further this week as talks of economic slowdown persist and rumors heat up again that the Feds might now consider additional economic stimulus measures in the U.S. Right now, both gold and silver price trend change over the course of the last month is negative. One month price change for gold is negative by 1.92 percent and one month price change for silver is currently negative by approximately 4.63 percent.
Source:http://www.learningandfinance.com/2012/07/16/todays-gold-price-per-ounce-spot-gold-price-per-gram-silver-price-per-ounce-live-trend-review-july-16-2012/
Sunday, July 15, 2012
Silver Weekly Fundamental Analysis July 16-20, 2012, Forecast
Silver futures are standardized, exchange-traded contracts in which the contract buyer agrees to take delivery, from the seller, a specific quantity of silver (eg. 30000 grams) at a predetermined price on a future delivery date.
Some Facts about Silver
Silver is a soft, shiny and heavy metallic element with a brilliant white luster. A very ductile and malleable metal, its thermal and electrical conductivity is the highest of all known metals.
Besides being used as a store of value, other main uses of silver include applications in areas such as electronics, photography and as antiseptics.
Consumers and producers of silver can manage silver price risk by purchasing and selling silver futures. Silver producers can employ a short hedge to lock in a selling price for the silver they produce while businesses that require silver can utilize a long hedge to secure a purchase price for the commodity they need.
Silver futures are also traded by speculators who assume the price risk that hedgers try to avoid in return for a chance to profit from favorable silver price movement. Speculators buy silver futures when they believe that silver prices will go up. Conversely, they will sell silver futures when they think that silver prices will fall.
Source:http://www.fxempire.com/fundamental/fundamental-analysis-reports/silver-weekly-fundamental-analysis-july-16-20-2012-forecast/
Saturday, July 14, 2012
Gold declines marginally, Silver sheds Rs 400 per kg
Both gold and silver declined in the bullion market here today on reduced offtake by stockists at existing higher levels.
While gold moved down marginally by Rs 15 to Rs 29,650 per 10 grams, silver fell by Rs 400 to Rs 52,400 per kg.
Traders said that lack of demand from retailers, jewellers and industrial units due to prevailing higher levels led to a fall in precious metals’ prices.
Gold of 99.9 per cent and 99.5 per cent purity declined by Rs 15 each to Rs 29,650 and Rs 29,450 per 10 grams, respectively.
Sovereign remained steady at Rs 24,300 per piece of eight grams in limited deals.
Silver ready fell by Rs 400 to Rs 52,400 per kg and weekly-based delivery by Rs 320 to Rs 52,750 per kg, respectively.
Silver coins held steady at Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.
Source:http://www.thehindubusinessline.com/markets/gold/article3639444.ece?ref=wl_investment-world
Today’s Gold price per ounce Spot gold price per gram, Spot silver price per ounce; Prices for Gold and Silver July 14, 2012
The positive trend-lines for precious metals gold and silver was a pleasant surprise considering trends have recently skewed negatively. Right now, according to one month change analysis for contract gold price and contract silver price, price trend change is still negative overall. Price trend change for gold is currently negative by 1.16 percent and silver price change is currently negative by 5.4 percent according to one month change analysis. Both gold and silver contracts finished the last trading session with floor prices posting in positive territory however.
Today’s Gold price per ounce and silver price per ounce contract close review July 14, 2012:
August contract gold finished the last session higher by 1.71 percent to close with a floor price at 1,592.00 per troy ounce. Silver contract finished the last session higher by .77 percent to close with a floor price at 27.37 per troy ounce.
Today’s Spot gold price per gram and spot silver price per ounce trends review July 14, 2012:
After last session close, spot gold price trend and spot silver price trend were positive. Spot gold price per gram was higher at 51.07 and spot silver price per ounce was higher at 27.25.
Source:http://www.learningandfinance.com/2012/07/14/todays-gold-price-per-ounce-spot-gold-price-per-gram-spot-silver-price-per-ounce-prices-for-gold-and-silver-july-14-2012/
Today’s Gold price per ounce and silver price per ounce contract close review July 14, 2012:
August contract gold finished the last session higher by 1.71 percent to close with a floor price at 1,592.00 per troy ounce. Silver contract finished the last session higher by .77 percent to close with a floor price at 27.37 per troy ounce.
Today’s Spot gold price per gram and spot silver price per ounce trends review July 14, 2012:
After last session close, spot gold price trend and spot silver price trend were positive. Spot gold price per gram was higher at 51.07 and spot silver price per ounce was higher at 27.25.
Source:http://www.learningandfinance.com/2012/07/14/todays-gold-price-per-ounce-spot-gold-price-per-gram-spot-silver-price-per-ounce-prices-for-gold-and-silver-july-14-2012/
Friday, July 13, 2012
Gold price ends with modest gains, silver spurts
Gold price recovered modestly after a three-session losing spree at the domestic bullion market today on mild investor off-take and stray buying interest at the existing level on the back of higher overseas cues.
Silver spurted on heavy speculative demand following renewed industrial buying.
Standard gold (99.5 purity) moved up by Rs 30 to close at Rs 29,170 per 10 grams from Thursday's closing level of Rs 29,140.
Pure gold (99.9 purity) gained Rs 25 to finish at Rs 29,300 per 10 grams from Rs 29,275.
Silver ready (.999 fineness) surged by Rs 655 per kg to conclude at Rs 53,000 from Rs 52,345 previously.
In Europe, gold rose in line other commodities on positive Chinese growth data, though cautiousness following doubts over US economic stimulus capped gains.
Spot gold was bid higher at USD 1,579.40 an ounce in early trade. Silver was also bid up at USD 27.34 an ounce.
Source:http://www.indianexpress.com/news/gold-price-ends-with-modest-gains-silver-spurts/974038/
Silver spurted on heavy speculative demand following renewed industrial buying.
Standard gold (99.5 purity) moved up by Rs 30 to close at Rs 29,170 per 10 grams from Thursday's closing level of Rs 29,140.
Pure gold (99.9 purity) gained Rs 25 to finish at Rs 29,300 per 10 grams from Rs 29,275.
Silver ready (.999 fineness) surged by Rs 655 per kg to conclude at Rs 53,000 from Rs 52,345 previously.
In Europe, gold rose in line other commodities on positive Chinese growth data, though cautiousness following doubts over US economic stimulus capped gains.
Spot gold was bid higher at USD 1,579.40 an ounce in early trade. Silver was also bid up at USD 27.34 an ounce.
Source:http://www.indianexpress.com/news/gold-price-ends-with-modest-gains-silver-spurts/974038/
Thursday, July 12, 2012
Sprott Physical Silver Trust Prices Follow-on Offering of Trust Units In An Aggregate Amount of US$200,005,000
Sprott Physical Silver Trust (the "Trust") (NYSE: PSLV / TSX: PHS.U), a trust created to invest and hold substantially all of its assets in physical silver bullion and managed by Sprott Asset Management LP, announced today that it has priced its follow-on offering of 18,100,000 transferable, redeemable units of the Trust ("Units") at a price of US$11.05 per Unit (the "Offering"). As part of the Offering, the Trust has granted the underwriters an over-allotment option to purchase up to 2,715,000 additional Units. The gross proceeds from the Offering will be US$200,005,000 (US$230,005,750 if the underwriters exercise in full the over-allotment option).
The Trust will use the net proceeds of the Offering to acquire physical silver bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to the Offering. Under the trust agreement governing the Trust, the net proceeds of the Offering per Unit must be not less than 100% of the most recently calculated net asset value per Unit of the Trust prior to, or upon determination of, pricing of the Offering.
The Units are listed on NYSE Arca and the Toronto Stock Exchange under the symbols "PSLV" and "PHS.U", respectively. The Offering will be made simultaneously in the United States and Canada by underwriters led by Morgan Stanley and RBC Capital Markets in the United States and RBC Capital Markets and Morgan Stanley in Canada.
Source:http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8561319
The Trust will use the net proceeds of the Offering to acquire physical silver bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to the Offering. Under the trust agreement governing the Trust, the net proceeds of the Offering per Unit must be not less than 100% of the most recently calculated net asset value per Unit of the Trust prior to, or upon determination of, pricing of the Offering.
The Units are listed on NYSE Arca and the Toronto Stock Exchange under the symbols "PSLV" and "PHS.U", respectively. The Offering will be made simultaneously in the United States and Canada by underwriters led by Morgan Stanley and RBC Capital Markets in the United States and RBC Capital Markets and Morgan Stanley in Canada.
Source:http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8561319
Wednesday, July 11, 2012
Gold and silver prices extend fall on weak demand
Gold prices fell further at the domestic bullion market today on sustained profit-selling by investors and traders amid subdued jewellers offtake.
Silver also witnessed speculative offloading on the back of poor industrial demand.
"The yellow metal is observing an off-season track trade amid uneasy global scenario," a trader said.
Standard gold (99.5 purity) slid by Rs 275 to close at Rs 29,200 per 10 grams from Tuesday's closing level of Rs 29,475.
Pure gold (99.9 purity) dipped by a similar margin of Rs 275 to finish at Rs 29,325 per 10 grams from Rs 29,600.
Silver ready (.999 fineness) also dropped by Rs 540 per kg to conclude at Rs 52,670 from Rs 53,210 previously.
In New York, gold ended lower amidst listless trade on higher dollar as well as renewed worries about eurozone debt crisis.
Gold for August delivery declined $ 9.30 to $1,579.80 an ounce on the Comex division of the NYMEX late yesterday.
Silver slid 56 cents to $26.88 an ounce.
Source:http://economictimes.indiatimes.com/markets/commodities/gold-and-silver-prices-extend-fall-on-weak-demand/articleshow/14822925.cms
Silver also witnessed speculative offloading on the back of poor industrial demand.
"The yellow metal is observing an off-season track trade amid uneasy global scenario," a trader said.
Standard gold (99.5 purity) slid by Rs 275 to close at Rs 29,200 per 10 grams from Tuesday's closing level of Rs 29,475.
Pure gold (99.9 purity) dipped by a similar margin of Rs 275 to finish at Rs 29,325 per 10 grams from Rs 29,600.
Silver ready (.999 fineness) also dropped by Rs 540 per kg to conclude at Rs 52,670 from Rs 53,210 previously.
In New York, gold ended lower amidst listless trade on higher dollar as well as renewed worries about eurozone debt crisis.
Gold for August delivery declined $ 9.30 to $1,579.80 an ounce on the Comex division of the NYMEX late yesterday.
Silver slid 56 cents to $26.88 an ounce.
Source:http://economictimes.indiatimes.com/markets/commodities/gold-and-silver-prices-extend-fall-on-weak-demand/articleshow/14822925.cms
Expect Gold prices to trade weak today: Nirmal Bang
Nirmal Bang has come out with its report on Gold, Silver, Copper, Nickel, Lead and Crude.
Gold prices are expected to trade weak as it has broken and close below the support of 29500. Prices are expected to test 29100 on lower end. Sell on rise till 29500.
Silver prices are likely to trade lower below 52550, one can witness a heavy sell off once it closes below 52550.
Copper prices are expected to trade lower till 417 -416, one can expect a bounce till 421- 421.50 whereby we expect selling pressure to continue. Maintain a stop loss above 424.
Nickel prices are expected to test 890 885 on lower end. One can sell on rise around 905 with a stop loss above 915. Oscillators indicating a negative move ahead.
Lead prices are expected to trade lower one can sell around 104 -104.20 with a stop loss above 1054.20.
Crude prices are likely to trade lower as it resisted 4815 on higher end and prices are likely to test 4670 -4650.
Source:http://www.moneycontrol.com/news/brokerage-recos-commodities/expect-gold-prices-to-trade-weak-today-nirmal-bang_728818.html
Tuesday, July 10, 2012
Gold Prices Move Up Marginally; Silver Prices Lower
Gold prices are fluctuating between gains and losses today as sagging global economy prompted investors to seek safety in U.S. dollars. Meanwhile, silver prices have edged lower in trading today.
The dollar index—a gauge on U.S. unit’s performance relative to a basket of six major currencies—showed that greenback stayed close to its one month high earlier this week, while euro slumped to almost two year low against the U.S. dollar.
The euro already weighed by member countries’ rising borrowing cost and economic slowdown, faced yet another jolt on Tuesday when a data published in China showed that country’s imports in June nearly halved compared to the last year. For the euro zone, especially, Germany, China serves as one of the biggest export market.
Dollar and gold prices are inversely related. In other words, rising dollar will lessen the demand for dollar priced gold in international markets. In technical terms, the inverse correlation between gold and dollar stood at -0.55 on Tuesday- which was the strongest inverse correlation in almost two years. A correlation reading of -1 indicates perfect inverse correlation.
At last check, gold futures for August delivery edged up 0.27%, at $1,593.40 before falling to $1,586.10 an ounce, earlier in the session.
Commenting over lack of demand in the bullion market, Li Ning, an analyst at Shanghai CIFCO Futures, said to Reuters, “The market is being a little pessimistic and cautious about the global economy, and investors are choosing the dollar as the top safety haven. The strength in the dollar is in turn putting pressure on gold prices.”
According to Wang Tao, a technical analyst at Reuters, spot gold could drop below $1576 an ounce on Tuesday.
Meanwhile Merrill Lynch, in its research note to its investors wrote that ongoing euro zone crisis will weigh on gold prices as euro is likely to remain under pressure. However, the bank also maintained that gold prices could get a boost should the fed decides to provide another round of quantitative easing.
At last check, silver futures were down 0.11%, at 27.415.
Source: http://fyxnews.com/smw/30428/Gold-Prices-Move-Up-Marginally-Silver-Prices-Lower#ixzz20E0aPQze
The dollar index—a gauge on U.S. unit’s performance relative to a basket of six major currencies—showed that greenback stayed close to its one month high earlier this week, while euro slumped to almost two year low against the U.S. dollar.
The euro already weighed by member countries’ rising borrowing cost and economic slowdown, faced yet another jolt on Tuesday when a data published in China showed that country’s imports in June nearly halved compared to the last year. For the euro zone, especially, Germany, China serves as one of the biggest export market.
Dollar and gold prices are inversely related. In other words, rising dollar will lessen the demand for dollar priced gold in international markets. In technical terms, the inverse correlation between gold and dollar stood at -0.55 on Tuesday- which was the strongest inverse correlation in almost two years. A correlation reading of -1 indicates perfect inverse correlation.
At last check, gold futures for August delivery edged up 0.27%, at $1,593.40 before falling to $1,586.10 an ounce, earlier in the session.
Commenting over lack of demand in the bullion market, Li Ning, an analyst at Shanghai CIFCO Futures, said to Reuters, “The market is being a little pessimistic and cautious about the global economy, and investors are choosing the dollar as the top safety haven. The strength in the dollar is in turn putting pressure on gold prices.”
According to Wang Tao, a technical analyst at Reuters, spot gold could drop below $1576 an ounce on Tuesday.
Meanwhile Merrill Lynch, in its research note to its investors wrote that ongoing euro zone crisis will weigh on gold prices as euro is likely to remain under pressure. However, the bank also maintained that gold prices could get a boost should the fed decides to provide another round of quantitative easing.
At last check, silver futures were down 0.11%, at 27.415.
Source: http://fyxnews.com/smw/30428/Gold-Prices-Move-Up-Marginally-Silver-Prices-Lower#ixzz20E0aPQze
Gold price dips below 30k, weak global cues
Gold prices today fell to a one-month low of Rs 29,900 per 10 grams by losing Rs 130 per in the bullion market here today on fall in demand amid weak trend in overseas markets.
Silver declined by Rs 200 to Rs 53,000 per kg on reduced offtake by industrial units and coin makers at existing high levels.
Traders said sentiment turned bearish after gold declined in the global markets as a stronger dollar curbed demand for the metal as an alternative investment.
In London, gold fell by 0.1 per cent to USD 1,585.43 an ounce, while silver shed 0.4 per cent to USD 27.23 an ounce.
Sluggish demand at prevailing higher levels and shifting of funds by investors from bullion to firming equity markets also influenced the sentiment, they added.
On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 130 each 29,900 and Rs 29,700 per 10 grams respectively, a level last seen on June 11.
Sovereign remained steady at Rs 24,400 per piece of eight grams.
Silver ready declined by Rs 200 to Rs 53,000 and weekly-based delivery by Rs 5 to Rs 53,225 per kg.
Silver coins held steady at Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.
Source:http://www.indianexpress.com/news/gold-price-dips-below-30k-weak-global-cues/972631/
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