Comprar Ouro
Re: Off Topic.
Pickbull Escreveu:fnabais.ferro Escreveu:Viva,
Sei que não tem muito a ver com AT sobre o Ouro, mas se possível, gostava de perguntar opiniões sobre o seguinte produto para oferecer como prenda de aniversário!
Barra de Ouro 10,00 gramas 350,10€
http://www.millenniumbcp.pt/site/conteudos/55/557/article.jhtml?articleID=243493
Uma questão é se acham que o preço deste produto é minimamente indexado à cotação do ouro, ou seja, se também vai valorizar ou desvalorizar reflectindo a variação do ouro!
Outra questão, e esta sim completamente off topic, é se pensam que uma criança de 10 anos vai achar alguma piada a isto!
Abraço,
Pessoalmente acho melhor investimento (tem mais mercado) uma libra de ouro (Isabel ou Vitória) do que uma barra de ouro.
Se uma criança de 10 anos vai achar piada? Se calhar não mas daqui a uns anos certamente que sim.
Obrigado desde já Pickbull pela resposta rápida. Entretanto já vi que tenho que ler o início do tópico pois parece que tem lá muita mais informação. Vou ver isso das Libras de Ouro ... ainda para mais tem um aspecto mais engraçado!!!
Abraço,
Life is short, ride hard!!!
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- Localização: Luanda / Margem Sul Lx
Re: Off Topic.
fnabais.ferro Escreveu:Viva,
Sei que não tem muito a ver com AT sobre o Ouro, mas se possível, gostava de perguntar opiniões sobre o seguinte produto para oferecer como prenda de aniversário!
Barra de Ouro 10,00 gramas 350,10€
http://www.millenniumbcp.pt/site/conteudos/55/557/article.jhtml?articleID=243493
Uma questão é se acham que o preço deste produto é minimamente indexado à cotação do ouro, ou seja, se também vai valorizar ou desvalorizar reflectindo a variação do ouro!
Outra questão, e esta sim completamente off topic, é se pensam que uma criança de 10 anos vai achar alguma piada a isto!
Abraço,
Pessoalmente acho melhor investimento (tem mais mercado) uma libra de ouro (Isabel ou Vitória) do que uma barra de ouro.
Se uma criança de 10 anos vai achar piada? Se calhar não mas daqui a uns anos certamente que sim.
Mais vale perder um lucro do que ganhar um prejuízo.
É melhor um burro vivo do que um cavalo morto.
Mais vale uma alegria na vida do que um tostão no bolso.
É melhor um burro vivo do que um cavalo morto.
Mais vale uma alegria na vida do que um tostão no bolso.
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- Mensagens: 1427
- Registado: 23/1/2008 19:18
- Localização: Coimbra
Off Topic.
Viva,
Sei que não tem muito a ver com AT sobre o Ouro, mas se possível, gostava de perguntar opiniões sobre o seguinte produto para oferecer como prenda de aniversário!
Barra de Ouro 10,00 gramas 350,10€
http://www.millenniumbcp.pt/site/conteudos/55/557/article.jhtml?articleID=243493
Uma questão é se acham que o preço deste produto é minimamente indexado à cotação do ouro, ou seja, se também vai valorizar ou desvalorizar reflectindo a variação do ouro!
Outra questão, e esta sim completamente off topic, é se pensam que uma criança de 10 anos vai achar alguma piada a isto!
Abraço,
Sei que não tem muito a ver com AT sobre o Ouro, mas se possível, gostava de perguntar opiniões sobre o seguinte produto para oferecer como prenda de aniversário!
Barra de Ouro 10,00 gramas 350,10€
http://www.millenniumbcp.pt/site/conteudos/55/557/article.jhtml?articleID=243493
Uma questão é se acham que o preço deste produto é minimamente indexado à cotação do ouro, ou seja, se também vai valorizar ou desvalorizar reflectindo a variação do ouro!
Outra questão, e esta sim completamente off topic, é se pensam que uma criança de 10 anos vai achar alguma piada a isto!
Abraço,
Life is short, ride hard!!!
-
- Mensagens: 872
- Registado: 31/1/2008 11:08
- Localização: Luanda / Margem Sul Lx
Parece que tivemos hoje o terceiro fecho acima de 1550...
Gold climbs near two-month high
Tatyana Shumsky
From: Dow Jones Newswires June 23, 2011 6:19AM
GOLD futures ended near a two-month high after the Federal Open Market Committee left monetary policy unchanged today.
The Federal Reserve's policy-setting committee downgraded its view of the US economy, noting the recovery has been slower than expected and the labour market remains weak.
However, the central bank will end its Treasuries-purchasing program in June, as expected, and gave no indication of any intention to take new steps to boost growth and jobs.
Gold futures spiked on the announcement, with August-delivery contracts briefly touching $US1559.00 a troy ounce, but they pared those gains just as quickly.
August-delivery gold, the most actively traded contract, settled up $US7.00, or 0.5 per cent, at $US1553.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
"The market is making the correct call -- we saw very, very muted response to this report because there wasn't anything new in it," said Dave Meger, director of metals trading at Vision Financial Markets.
"All of the news that came out of the Fed announcement was already baked in the cake."
Gold investors can breathe a sigh of relief, however, as the Federal Open Market Committee's accommodative stance toward keeping interest rates low for an extended period eased worries that the central bank may raise rates sooner than expected.
While ultralow interest rates have been a major supportive factor for gold prices, they have not been the driving reason behind gold's ascent. Gold and Treasuries are both considered safe-haven assets, but the yellow metal can win out against interest-bearing assets like Treasuries when interest rates are low.
The Fed meeting has briefly lured investor attention from the European sovereign debt crisis, which has been a major factor in driving gold prices higher. Greece's struggle to pay its government loans, and the threat of a euro-zone-member default to the global financial system has fanned investment demand for gold -- a refuge from such risks.
Greek President George Papandreou survived a confidence vote in parliament yesterday, but now faces the tough task of passing a highly unpopular budget cut and asset sale package. The country has struggled to pay its debts despite a hefty bailout from euro-zone members last year, and must cut spending in order to qualify for further aid.
Other precious metals also locked in gains today.
Silver for July delivery, the most actively traded contract, settled up US36 cents, or 1 per cent, at $US36.739 a troy ounce.
Nymex platinum for July delivery, the most actively traded contract, ended up $US5.20, or 0.3 per cent, at $US1752.40 a troy ounce.
Palladium for September delivery, the most actively traded contract, was up $US3.35, or 0.4 per cent, at $US770.65 a troy ounce on the Nymex.
Gold climbs near two-month high
Tatyana Shumsky
From: Dow Jones Newswires June 23, 2011 6:19AM
GOLD futures ended near a two-month high after the Federal Open Market Committee left monetary policy unchanged today.
The Federal Reserve's policy-setting committee downgraded its view of the US economy, noting the recovery has been slower than expected and the labour market remains weak.
However, the central bank will end its Treasuries-purchasing program in June, as expected, and gave no indication of any intention to take new steps to boost growth and jobs.
Gold futures spiked on the announcement, with August-delivery contracts briefly touching $US1559.00 a troy ounce, but they pared those gains just as quickly.
August-delivery gold, the most actively traded contract, settled up $US7.00, or 0.5 per cent, at $US1553.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
"The market is making the correct call -- we saw very, very muted response to this report because there wasn't anything new in it," said Dave Meger, director of metals trading at Vision Financial Markets.
"All of the news that came out of the Fed announcement was already baked in the cake."
Gold investors can breathe a sigh of relief, however, as the Federal Open Market Committee's accommodative stance toward keeping interest rates low for an extended period eased worries that the central bank may raise rates sooner than expected.
While ultralow interest rates have been a major supportive factor for gold prices, they have not been the driving reason behind gold's ascent. Gold and Treasuries are both considered safe-haven assets, but the yellow metal can win out against interest-bearing assets like Treasuries when interest rates are low.
The Fed meeting has briefly lured investor attention from the European sovereign debt crisis, which has been a major factor in driving gold prices higher. Greece's struggle to pay its government loans, and the threat of a euro-zone-member default to the global financial system has fanned investment demand for gold -- a refuge from such risks.
Greek President George Papandreou survived a confidence vote in parliament yesterday, but now faces the tough task of passing a highly unpopular budget cut and asset sale package. The country has struggled to pay its debts despite a hefty bailout from euro-zone members last year, and must cut spending in order to qualify for further aid.
Other precious metals also locked in gains today.
Silver for July delivery, the most actively traded contract, settled up US36 cents, or 1 per cent, at $US36.739 a troy ounce.
Nymex platinum for July delivery, the most actively traded contract, ended up $US5.20, or 0.3 per cent, at $US1752.40 a troy ounce.
Palladium for September delivery, the most actively traded contract, was up $US3.35, or 0.4 per cent, at $US770.65 a troy ounce on the Nymex.
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- Registado: 5/11/2002 12:21
- Localização: Barlavento
Elias Escreveu:Na notícia refere que o fecho recorde foi de 1557.
Parece-me que os valores de fecho para um dado dia podem variar, consoante o mercado a que se referem - será assim?
Ou pode ter a ver com a hora de fecho. Estando o mercado forex aberto 24/24 se calhar cada país (corretora?) tem uma fora de fecho!
Mas isso sou eu já a divagar...
EDIT: Encontrei isto http://forex.timezoneconverter.com/
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- Localização: Coimbra
Gold Prices Rally Ahead of Fed Announcement
By Alix Steel 06/22/11 - 10:38 AM EDT
NEW YORK (TheStreet ) -- Gold and silver prices were rallying Wednesday ahead of the Federal Reserve's interest rate announcement and Ben Bernanke's press conference.
Gold for August delivery was adding $7.80 to $1,554.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,559.20 and as low as $1,542 while the spot gold price was adding $8.40, according to Kitco's gold index.
Silver prices were adding 13 cents to $36.51 an ounce while the U.S. dollar index was flat at $74.63 and the euro was slightly higher.
Gold prices were breaking through the $1,550 an ounce area, signaling a breakout to some traders. "Right now we are in a range $1,510 to $1,550," says Mihir Dange, founder and trader at Arbitrage, but "it seem like there is going to be a big move coming up."
Gold prices didn't do much after Greece's Prime Minister George Papandreou received a vote of confidence from his government late Tuesday, which paves the way for billions in austerity measures needed to secure more bailout money. It seems gold prices are instead taking direction from the Fed's upcoming interest rate announcement and Ben Bernanke's second press conference.
Gold has been clawing its way back to the $1,550 area as investors opt for the perceived safety of the U.S. dollar and gold versus riskier stocks and currencies like the euro. "The trend now in gold is a steady grind higher," says Dange, who would get long gold once prices break and hold its record close of $1,557 an ounce.
Scott Redler, chief strategic officer for T3Live.com, who has been staying away from gold, says "the chart has been very bullish but it's been hard to trade, it's been really choppy." Redler says if it starts seeing some power throughout the day that prices could make another high. "I would rather be long this rather than short this." This advice, if futures traders follow it, could drive prices higher.
By Alix Steel 06/22/11 - 10:38 AM EDT
NEW YORK (TheStreet ) -- Gold and silver prices were rallying Wednesday ahead of the Federal Reserve's interest rate announcement and Ben Bernanke's press conference.
Gold for August delivery was adding $7.80 to $1,554.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,559.20 and as low as $1,542 while the spot gold price was adding $8.40, according to Kitco's gold index.
Silver prices were adding 13 cents to $36.51 an ounce while the U.S. dollar index was flat at $74.63 and the euro was slightly higher.
Gold prices were breaking through the $1,550 an ounce area, signaling a breakout to some traders. "Right now we are in a range $1,510 to $1,550," says Mihir Dange, founder and trader at Arbitrage, but "it seem like there is going to be a big move coming up."
Gold prices didn't do much after Greece's Prime Minister George Papandreou received a vote of confidence from his government late Tuesday, which paves the way for billions in austerity measures needed to secure more bailout money. It seems gold prices are instead taking direction from the Fed's upcoming interest rate announcement and Ben Bernanke's second press conference.
Gold has been clawing its way back to the $1,550 area as investors opt for the perceived safety of the U.S. dollar and gold versus riskier stocks and currencies like the euro. "The trend now in gold is a steady grind higher," says Dange, who would get long gold once prices break and hold its record close of $1,557 an ounce.
Scott Redler, chief strategic officer for T3Live.com, who has been staying away from gold, says "the chart has been very bullish but it's been hard to trade, it's been really choppy." Redler says if it starts seeing some power throughout the day that prices could make another high. "I would rather be long this rather than short this." This advice, if futures traders follow it, could drive prices higher.
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- Localização: Barlavento
O XauUsd quebrou ontem a LTA de médio prazo, continuando hoje a negociar abaixo dela.
No gráfico de 4 horas parece estar a formar um topo arredondado ou uma possivel cup with handle.
Deixo os gráficos semanal, diário e 4 horas.
No gráfico de 4 horas parece estar a formar um topo arredondado ou uma possivel cup with handle.
Deixo os gráficos semanal, diário e 4 horas.
- Anexos
-
- 140611 XauUsd S b.JPG (55.43 KiB) Visualizado 6397 vezes
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- 140611 XauUsd b.JPG (63.24 KiB) Visualizado 6402 vezes
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- 140611 XauUsd 4h b.JPG (60.3 KiB) Visualizado 6393 vezes
Novo blog agora com a colaboração do J Alves, Paubo e Zecatreca- http://portugueseteamtraders.blogspot.com/
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- Mensagens: 3489
- Registado: 29/11/2007 11:31
Deixo aqui dois artigos sobre a posição que os grandes fundos estão a tomar em relação ao ouro
Um é de hoje, outro é do início do mês.
http://blogs.forbes.com/afontevecchia/2 ... r=yahootix
http://blogs.forbes.com/afontevecchia/2 ... mp-rumors/
Abraço,
Tiago
Um é de hoje, outro é do início do mês.
http://blogs.forbes.com/afontevecchia/2 ... r=yahootix
http://blogs.forbes.com/afontevecchia/2 ... mp-rumors/
Abraço,
Tiago
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- Registado: 29/3/2010 17:06
- Localização: Algarve
Longo mas interessante:
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<param name="movie" value="http://www.youtube.com/v/E5VNAEmmBQM?version=3"><param name="allowFullScreen" value="true"><param name="allowScriptAccess" value="always"><embed src="http://www.youtube.com/v/E5VNAEmmBQM?version=3" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="390"></object>
---Tudo o que for por mim escrito expressa apenas a minha opinião pessoal e não é uma recomendação de investimento de qualquer tipo---
https://twitter.com/JCSTrendTrading
"We can confidently predict yesterdays price. Everything else is unknown."
"Every trade is a test"
"Price is the aggregation of everyone's expectations"
"I don't define a good trade as a trade that makes money. I define a good trade as a trade where I did the right thing". (Trend Follower Kevin Bruce, $5000 to $100.000.000 in 25 years).
https://twitter.com/JCSTrendTrading
"We can confidently predict yesterdays price. Everything else is unknown."
"Every trade is a test"
"Price is the aggregation of everyone's expectations"
"I don't define a good trade as a trade that makes money. I define a good trade as a trade where I did the right thing". (Trend Follower Kevin Bruce, $5000 to $100.000.000 in 25 years).
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- Mensagens: 4582
- Registado: 15/7/2003 14:59
- Localização: Lisboa
Incrível Raposo Escreveu:http://online.wsj.com/article/SB10001424052748703509104576326880547925262.html
Artigo interessante sobre as reservas de ouro de Portugal. Será que não devíamos vender algum?
Se é espectável que o ouro suba até aos 2k...porque vender a 1.5k? Eu não acredito que chegue aos 2k assim do nada..e se chegar...vamos ter problemas gravíssimos...
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- Mensagens: 240
- Registado: 20/6/2010 13:06
- Localização: Lisboa
Incrível Raposo Escreveu: reservas de ouro de Portugal. Será que não devíamos vender algum?
O Banco de Portugal assinou acordos internacionais que o impedem de vender o seu ouro quando entenda mais conveniente. Sendo o Banco de Portugal independente, o Estado português não pode ordenar-lhe que venda o ouro,mesmo que venda o ouro, o Banco de Portugal não é obrigado a transferir a receita da transacção para os cofres do Tesouro.
E ainda: a venda do ouro seria um mero paliativo que apenas adiaria as tarefas de saneamento financeiro.
Remember the Golden Rule: Those who have the gold make the rules.
***
"A soberania e o respeito de Portugal impõem que neste lugar se erga um Forte, e isso é obra e serviço dos homens de El-Rei nosso senhor e, como tal, por mais duro, por mais difícil e por mais trabalhoso que isso dê, (...) é serviço de Portugal. E tem que se cumprir."
***
"A soberania e o respeito de Portugal impõem que neste lugar se erga um Forte, e isso é obra e serviço dos homens de El-Rei nosso senhor e, como tal, por mais duro, por mais difícil e por mais trabalhoso que isso dê, (...) é serviço de Portugal. E tem que se cumprir."
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- Mensagens: 3030
- Registado: 28/2/2007 14:18
http://online.wsj.com/article/SB1000142 ... 25262.html
Artigo interessante sobre as reservas de ouro de Portugal. Será que não devíamos vender algum?
Artigo interessante sobre as reservas de ouro de Portugal. Será que não devíamos vender algum?
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- Mensagens: 31
- Registado: 6/1/2011 16:34
Deixo os gráficos do XauUsd actalizados.
Parece bem provável a visita ao agora suporte dos 1431 USD.
Parece bem provável a visita ao agora suporte dos 1431 USD.
- Anexos
-
- 170511 XauUsd S b.jpg (91.82 KiB) Visualizado 7040 vezes
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- 170511 XauUsd b.jpg (95.02 KiB) Visualizado 7046 vezes
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- 170511 XauUsd 4h b.jpg (88.24 KiB) Visualizado 7047 vezes
Novo blog agora com a colaboração do J Alves, Paubo e Zecatreca- http://portugueseteamtraders.blogspot.com/
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- Mensagens: 3489
- Registado: 29/11/2007 11:31
Deutsche Bank coloca ouro nos 2.000 dólares
Luís Leitão
11/05/11 10:20
economico
Os especialistas do banco alemão conferem um potencial de valorização de 31% à onça do metal dourado até Janeiro.
Depois de o ouro ter batido um novo recorde de 1.557,57 dólares a 2 de Maio, o Deutsche Bank acredita que a subida do metal precioso não ficará por aqui.
"Estou optimista no ouro apesar dos níveis actuais", referiu Hal Lehr, director do departamento de matérias-primas do Deutche Bank, numa entrevista em Buenos Aires ao sítio financeiro "Business Intelligence" e à Bloomberg.
Para o especialista do banco alemão, a onça de ouro "poderá chegar aos 2.000 dólares nos próximos oito meses", traduzindo-se assim numa valorização de 31% até Janeiro do próximo ano, considerando o preço actual de 1.525,42 dólares por onça
Esta subida deverá continuar a ser alimentada pela "incerteza" dos investidores quanto ao futuro da economia mundial, segundo Lehr, que procurarão o ouro como um activo de refúgio.
Luís Leitão
11/05/11 10:20
economico
Os especialistas do banco alemão conferem um potencial de valorização de 31% à onça do metal dourado até Janeiro.
Depois de o ouro ter batido um novo recorde de 1.557,57 dólares a 2 de Maio, o Deutsche Bank acredita que a subida do metal precioso não ficará por aqui.
"Estou optimista no ouro apesar dos níveis actuais", referiu Hal Lehr, director do departamento de matérias-primas do Deutche Bank, numa entrevista em Buenos Aires ao sítio financeiro "Business Intelligence" e à Bloomberg.
Para o especialista do banco alemão, a onça de ouro "poderá chegar aos 2.000 dólares nos próximos oito meses", traduzindo-se assim numa valorização de 31% até Janeiro do próximo ano, considerando o preço actual de 1.525,42 dólares por onça
Esta subida deverá continuar a ser alimentada pela "incerteza" dos investidores quanto ao futuro da economia mundial, segundo Lehr, que procurarão o ouro como um activo de refúgio.
- Mensagens: 35428
- Registado: 5/11/2002 12:21
- Localização: Barlavento
Gold Price Advances Toward $1,550, Hits New High
Friday, April 29, 2011, 9:29am EST. Written by GoldAlert Staff.
GOLD PRICE NEWS – The gold price surged to a new record high Friday morning, touching $1,541 per ounce before settling back at $1,538. Strength in the price of gold continues to be driven by the sinking U.S. dollar, which fell against the euro, pound, and Canadian dollar this morning. Silver followed the gold price higher, rising nearly 1% to $48.80 per ounce. Commodities were strong across the board with oil and agricultural products leading the way. Inflation beneficiaries such as gold and silver have seen massive investment inflows as investors worry that Fed Chairman Bernanke is sacrificing the U.S. dollar in order to engineer a recovery in the U.S.
On Thursday, the gold price jumped to $1,538.80, the latest in a series of new all-time highs for the yellow metal. The gold price extended its monthly and year-to-date gains to 6.9% and 8.3%, respectively. The SPDR Gold Trust (GLD), a proxy for the gold price and the world’s largest gold ETF, finished at a new record high of $149.82 per ounce.
Silver climbed in concert with the gold price, as it approached $50 per ounce for the second time this week. Yesterday, the price of silver hit an intra-day high of $49.56, before paring its gains and settling at $48.66 per ounce. Nevertheless, silver has continued to outperform gold and nearly all other commodities in 2011, with a year-to-date gain of 57.3%.
Is the gold price rally set to pause? It could, according to Steven Scacalossi, Director at TD Commodities, who noted this morning that, “Gold continues to ebb higher towards 1540. While we maintain gold will eventually test 1580-1600 it seems practical to assume a correction towards 1510-1520 support is likely enabling the market to consolidate.”
Gold and silver equities lagged precious metals on Thursday, with the Philadelphia Gold & Silver Index (XAU) sliding 0.7% to 220.39. Year-to-date the XAU is lower by 2.7%, highlighted by declines of 4.4% and 4.0% for Barrick Gold (ABX) and Newmont Mining (NEM), respectively. Other XAU components to post even larger losses in 2011 include Agnico-Eagle Mines (AEM) and Kinross Gold (KGC), which have tumbled 11.7% and 17.0%, respectively. Gold mining stocks moved higher alongside the gold price heading into Friday’s opening bell on Wall Street.
Thursday’s gold price rally and U.S. dollar sell-off were fueled by two worse than expected economic reports. First quarter GDP grew 1.8%, below the 2.0% the market was expecting, while weekly jobless claims rose to 429,000, below the 390,000 consensus estimate among economists. The disappointing macroeconomic data helped reinforce the views expressed by the Federal Reserve and Chairman Ben Bernanke this week that the U.S. economic recovery remains tenuous and continues to require an ultra-dovish stance from the central bank.
Commenting on the Fed’s outlook, Michael Gapen, an analyst with Barclays Capital Research, provided an encouraging forecast for those holding investments tied to the gold price. In a note to clients, Gapen wrote that “Altogether, the statement, press conference, and updated set of economic projections tell us that the Fed will likely be patient when it comes to the eventual removal of policy accommodation. We do not expect an increase in the federal funds rate until July 2012.”
http://www.goldalert.com/gold-price-adv ... -new-high/
Friday, April 29, 2011, 9:29am EST. Written by GoldAlert Staff.
GOLD PRICE NEWS – The gold price surged to a new record high Friday morning, touching $1,541 per ounce before settling back at $1,538. Strength in the price of gold continues to be driven by the sinking U.S. dollar, which fell against the euro, pound, and Canadian dollar this morning. Silver followed the gold price higher, rising nearly 1% to $48.80 per ounce. Commodities were strong across the board with oil and agricultural products leading the way. Inflation beneficiaries such as gold and silver have seen massive investment inflows as investors worry that Fed Chairman Bernanke is sacrificing the U.S. dollar in order to engineer a recovery in the U.S.
On Thursday, the gold price jumped to $1,538.80, the latest in a series of new all-time highs for the yellow metal. The gold price extended its monthly and year-to-date gains to 6.9% and 8.3%, respectively. The SPDR Gold Trust (GLD), a proxy for the gold price and the world’s largest gold ETF, finished at a new record high of $149.82 per ounce.
Silver climbed in concert with the gold price, as it approached $50 per ounce for the second time this week. Yesterday, the price of silver hit an intra-day high of $49.56, before paring its gains and settling at $48.66 per ounce. Nevertheless, silver has continued to outperform gold and nearly all other commodities in 2011, with a year-to-date gain of 57.3%.
Is the gold price rally set to pause? It could, according to Steven Scacalossi, Director at TD Commodities, who noted this morning that, “Gold continues to ebb higher towards 1540. While we maintain gold will eventually test 1580-1600 it seems practical to assume a correction towards 1510-1520 support is likely enabling the market to consolidate.”
Gold and silver equities lagged precious metals on Thursday, with the Philadelphia Gold & Silver Index (XAU) sliding 0.7% to 220.39. Year-to-date the XAU is lower by 2.7%, highlighted by declines of 4.4% and 4.0% for Barrick Gold (ABX) and Newmont Mining (NEM), respectively. Other XAU components to post even larger losses in 2011 include Agnico-Eagle Mines (AEM) and Kinross Gold (KGC), which have tumbled 11.7% and 17.0%, respectively. Gold mining stocks moved higher alongside the gold price heading into Friday’s opening bell on Wall Street.
Thursday’s gold price rally and U.S. dollar sell-off were fueled by two worse than expected economic reports. First quarter GDP grew 1.8%, below the 2.0% the market was expecting, while weekly jobless claims rose to 429,000, below the 390,000 consensus estimate among economists. The disappointing macroeconomic data helped reinforce the views expressed by the Federal Reserve and Chairman Ben Bernanke this week that the U.S. economic recovery remains tenuous and continues to require an ultra-dovish stance from the central bank.
Commenting on the Fed’s outlook, Michael Gapen, an analyst with Barclays Capital Research, provided an encouraging forecast for those holding investments tied to the gold price. In a note to clients, Gapen wrote that “Altogether, the statement, press conference, and updated set of economic projections tell us that the Fed will likely be patient when it comes to the eventual removal of policy accommodation. We do not expect an increase in the federal funds rate until July 2012.”
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Gold Surges to Record $1,524.20 on Dollar, U.S. Rate Outlook
April 27 (Bloomberg) -- Gold futures rose to a record $1,524.20 an ounce on speculation that the Federal Reserve will be slow to raise U.S. borrowing costs, weakening the dollar and boosting the appeal of the precious metal as an alternative asset.
The dollar fell to the lowest since December 2009 against the euro after the Fed kept borrowing costs at a record low and said it would continue $600 billion in bond purchases through June. The European Central Bank this month began raising rates to stem inflation.
“There’s not a lot the Fed can do to ease the dollar’s suffering,” said Matthew Zeman, a strategist at Kingsview Financial in Chicago. “The U.S. will be behind in the tightening cycle, and that’s a green light to buy gold.”
Gold futures for June delivery rose $13.60, or 0.9 percent, to settle at $1,517.10 at 1:48 p.m. on the Comex in New York. After the close, the metal reached the all-time high. The price has gained 31 percent in the past year.
--Editors: Patrick McKiernan, Steve Stroth
To contact the reporter on this story: Pham-Duy Nguyen in New York at pnguyen@bloomberg.net
April 27 (Bloomberg) -- Gold futures rose to a record $1,524.20 an ounce on speculation that the Federal Reserve will be slow to raise U.S. borrowing costs, weakening the dollar and boosting the appeal of the precious metal as an alternative asset.
The dollar fell to the lowest since December 2009 against the euro after the Fed kept borrowing costs at a record low and said it would continue $600 billion in bond purchases through June. The European Central Bank this month began raising rates to stem inflation.
“There’s not a lot the Fed can do to ease the dollar’s suffering,” said Matthew Zeman, a strategist at Kingsview Financial in Chicago. “The U.S. will be behind in the tightening cycle, and that’s a green light to buy gold.”
Gold futures for June delivery rose $13.60, or 0.9 percent, to settle at $1,517.10 at 1:48 p.m. on the Comex in New York. After the close, the metal reached the all-time high. The price has gained 31 percent in the past year.
--Editors: Patrick McKiernan, Steve Stroth
To contact the reporter on this story: Pham-Duy Nguyen in New York at pnguyen@bloomberg.net
- Mensagens: 35428
- Registado: 5/11/2002 12:21
- Localização: Barlavento
