Gold Vault Opens in China as Bullion Goes From West to East

A gold vault that can store 2,000 metric tons, double China’s projected consumption this year, opened in Shanghai this month as owner Malca-Amit Global Ltd. seeks to benefit from rising demand in Asia’s largest economy. The facility is the biggest for the Hong Kong-based company, and it can also store diamonds, jewelry and art, Joshua Rotbart, […]

Continue reading

Gold Bulls Persist on Dollar Drop as Stimulus Kept: Commodities

Gold analysts are bullish for a second week on speculation that prolonged U.S. stimulus and a weakening dollar will boost demand for the metal as a haven. Seventeen analysts surveyed by Bloomberg News expect prices to advance next week, nine are bearish and six neutral. The Bloomberg U.S. Dollar Index, a measure against 10 currencies, slid to […]

Continue reading

Gold Advances Most in a Week on U.S. Government Shutdown Concern

Gold advanced the most in a week as U.S. lawmakers struggled to reach an accord on raising the nation’s debt limit, increasing demand for the precious metal as a haven. With the U.S.’s borrowing authority set to lapse Oct. 17, Senate Majority Leader Harry Reid said yesterday that he had a “productive conversation” with Minority Leader Mitch McConnell, […]

Continue reading

Gold Bulls Raise Wagers Most in Month on Stimulus: Commodities

“Hedge funds’ combined holdings in gold futures rose the most this month as continued U.S. monetary stimulus spurred investors to sell short contracts and sent prices toward the first quarterly advance in a year. The net-long position in bullion jumped 12 percent to 78,654 futures and options in the week ended Sept. 24, the most […]

Continue reading

Russia Increases Gold Holdings With Kazakhstan for 11th Month

“Russia and Kazakhstan expanded their gold reserves for an 11th straight month in August as bullion prices rallied. Mexico reduced its holdings. Russian assets gained 12.7 metric tons to 1,015.5 tons, International Monetary Fund data showed today. Kazakhstan’s reserves rose 2.5 tons to 134.5 tons and Turkey added 23.4 tons to 487.4 tons, the data […]

Continue reading

Thai Gold Buyer Doubles Imports After Bear Slump: Southeast Asia

“YLG Bullion International Co., Thailand’s biggest domestic gold importer, expects to more than double purchases this year after the bear market in prices spurred a surge in demand for physical metal. The company may import as much as 200 metric tons in 2013, from 92 tons last year, Chief Executive Officer Pawan Nawawattanasub said in […]

Continue reading

Gold Imports to China From Hong Kong Climb on Physical Demand

“Gold shipments to China from Hong Kong increased in July as importers took advantage of local prices that were an average 2.1 percent higher than global markets and as mainland investors bought jewelry and coins. Net imports, after deducting flows from China into Hong Kong, were 113 metric tons, from 101 tons a month earlier, […]

Continue reading

Gold Nears Bull-Market Territory as Syrian Tensions Spur Demand

“Gold climbed to a three-month high in New York, approaching a bull market, as speculation about an attack against Syria within days spurred demand for precious metals as a haven. Silver rose to four-month high. Any armed response would be focused on Syria’s weapons capabilities and wouldn’t be aimed at deposing President Bashar al-Assad, U.S. […]

Continue reading

Gold Nears 2-Month High as Traders Weigh Stimulus Against Demand

“Gold was little changed near a two-month high in New York as investors weighed expectations the U.S. Federal Reserve will reduce stimulus against more physical demand. Platinum reached a four-month high. Bullion futures rose to a two-month high of $1,384.10 an ounce on Aug. 19 and are up 0.1 percent this week. Minutes released Aug. […]

Continue reading

Gold’s Rout Spurs Surge in Indonesian Demand: Southeast Asia

“Gold jewelry demand in Indonesia is set to expand to a four-year high as consumers in Southeast Asia’s biggest buyer join India to China in increasing purchases as prices slump and the middle class expands. Consumption of necklaces, bracelets and rings will probably climb to 40 metric tons this year, according to Iskandar Husin, secretary-general […]

Continue reading