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, […]

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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 […]

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Gold Futures Advance to Three-Week High on Stimulus Speculation

Gold futures rose to a three-week high on speculation that the Federal Reserve will maintain the pace of monetary stimulus to boost economic growth. Fed policy makers will delay reducing $85 billion in monthly bond purchases until March, according to the median estimate of 40 economists in a Bloomberg survey last week. The partial U.S. government 16-day […]

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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, […]

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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 […]

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Austrian Mint Increases Gold Sales as Price Slump Spurs Demand

“Muenze Oesterreich AG, the Austrian mint that makes Philharmonic coins, increased sales this year after tumbling gold prices fueled demand. Sales of gold coins from January to July rose 79 percent from a year earlier to 383,500 ounces, according to data e-mailed by the Vienna-based mint, almost matching those for the whole of last year […]

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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. […]

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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. […]

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Gold Borrowing Costs Remain Near 4 1/2-Year High on Tight Supply

“The cost of borrowing gold held near a 4 1/2-year high in London as U.S. futures moved into backwardation this month, a signal that near-term supplies are tightening at a time when prices gained on more physical demand. The one-month gold forward offered rate, which shows the interest rate at which dealers will lend metal […]

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Gold Traders Most Bullish Since March as Paulson Cuts

“Gold traders are the most bullish in five months on signs that demand for coins and jewelry increased during a plunge in prices that prompted billionaire investor John Paulson to cut his holding for the first time since 2011. Thirteen analysts surveyed by Bloomberg expect prices to rise next week, four were bearish and five […]

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