Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Market Optimistic on Central Bank Intervention

IMG Auteur
Published : August 07th, 2012
469 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

 

 

 

 

Today's AM fix was USD 1,613.00, EUR 1,300.39, and GBP 1,032.39 per ounce.
Yesterday’s AM fix was USD 1,606.75, EUR 1,299.43 and GBP 1,032.28 per ounce.


Silver is trading at $28.08/oz, €22.71/oz and £18.01/oz. Platinum is trading at $1,415.70/oz, palladium at $582.50/oz and rhodium at $1,100/oz.


Ireland observed a national holiday on Monday.


Gold climbed $8.40 or 0.52% in New York yesterday and closed at $1,611.20/oz. Silver hit a high of $27.985 and closed with a gain of 0.5%.


24hGold - Market Optimistic on...
Gold Prices/Rates/Fixes /Volumes – (Bloomberg)


Gold traded sideways Tuesday, maintaining gains from the previous 2 sessions as investors waited for action from the European Central Bank looking for intervention in solving the Eurozone debt crisis.


Market players are watching for any details on the ECB’s bond purchasing plans, after bank chief Mario Draghi said last week that the ECB would target short-term debt, fuelling optimism in the bond markets.


A Reuter’s poll of economists on Friday highlighted that they expect the Fed to start QE3 in September, but a top Fed official said that a stimulus package so close to a presidential election would not be prudent.


Since the ECB conditioned it would buy more government debt from Spain & Italy if they agreed to strict austerity packages, this has decreased pressure on either country to act quickly.


The Financial Times interviewed Ken Wattret, a BNP Paribas economist who said: “If people think this will all be sorted in a matter of days, or weeks, then they will be disappointed. We could be in limbo for months.”


24hGold - Market Optimistic on...
Cross Currency Table – (Bloomberg)


US Economic data out this week follows: Consumer Credit - Tuesday, Productivity and Unit Labor Costs - Wednesday, Initial Jobless Claims, the Trade Balance, and Wholesale Inventories - Thursday, and Import and Export Prices plus the Treasury Budget - Friday.


China is set to release inflation, trade figures and industrial output data for July, this week. China still has a strong affinity for the yellow metal.


Gold flow from Hong Kong increased 6 times for the first half of the year, while flow in the opposite direction was unusually high for June.


China produced 36.3 tonnes of gold in June sending the total output to 177 tonnes up 7.7% for the year.


For breaking news and commentary on financial markets and gold, follow us on Twitter.


NEWS
Gold little changed as investors await ECB action - Reuters


Bond buying plan heightens ECB dilemma – The Financial Times


Gold Trove Found At Israel Castle Reveals Crusaders’ Forex Moves - Bloomberg


COMMENTARY
Majority of Wall Street dealers still expect Fed QE3 - Reuters


Eurozone money printing is on the horizon – buy Europe now - MoneyWeek


China’s $11m gold walkway – Europe China Daily


CFTC Commissioner Bart Chilton Comments on the Silver Investigation – The Motley Fool


Mark O’Byrne

Goldcore

 

 

Data and Statistics for these countries : China | Hong Kong | Ireland | Israel | Italy | Spain | All
Gold and Silver Prices for these countries : China | Hong Kong | Ireland | Israel | Italy | Spain | All
<< Previous article
Rate :Average :0 (0 vote)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.