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Monthly Archives: July 2014

“Let’s Build Hong Kong Dream”—“Launching & Award Ceremony”

The Charity Fund of The Chinese Gold & Silver Exchange Society, “Let’s Build Hong Kong Dream”—“Launching & Award Ceremony” was held on 30 July 2014 (Wednesday) at 3 p.m.  The location was at the Lower Lobby, Conrad Hong Kong, Pacific Place, 88 Queensway, Hong Kong.  We had Mr. Mathew Cheung Kin Chung—Secretary for Labour and Welfare and Mr. Eddie Ng Hak Kim—Secretary for Education as our officiating guests.  The information of “Let’s Build Hong Kong Dream” has been posted on The Standard, Oriental Daily, The-Sun and Economic Daily.

To cooperate with this meaningful activity, we did not hesitate to give sponsor to The Charity Fund. We would like to give a helping hand to the needy of our community, in order to help them to have a better life.  There will be a lot more activities held by The Gold & Silver Exchange Society in coming August to December.  All proceeds will be allocated to The Gold & Silver Exchange Society Charity Fund.  Please keep an eye on us!

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Goldcorp swings to profit, lowers cost guidance

Goldcorp Inc. swung to a profit in the second quarter and said it now expects costs for the full year to be toward the low end of its guidance range due to a better-than-expected cost performance in the first half of 2014.

The Vancouver-based gold producer reported earnings including discontinued operations of $181 million, or 22 cents a share, compared with a loss of $1.93 billion, or $2.38, a year earlier. The hefty year-earlier loss included a $1.83 billion impairment charge related to the company’s Penasquito mine in Mexico.

Goldcorp said it earned 24 cents a share from continuing operations and 20 cents a share on an adjusted basis in the latest quarter. (more…)

Gold extends losses to shed 3.1% in July

Gold futures fell for a third session on Thursday to close out the month of July 3.1% weaker amid mounting signs of a stronger U.S. economy. August gold GCQ4 +0.15%  slid $13.60% to settle at $1,281.30 an ounce on the Comex division of the New York Mercantile Exchange. Investors are unloading gold on concerns that the Federal Reserve may hike interest rates in a bid to fight inflation in an improving economy.

Gold drops after U.S. economic growth tops forecasts

Gold prices continued to pull back Wednesday as a stronger-than-expected report on the U.S. economy dampened demand for safety plays.

Gold for August delivery GCQ4 +0.15%  fell for a second day, dropping $3.40, or 0.3%, to settle at $1,294.90 an ounce, while September silver SIU4 -0.08%   edged up a penny to $20.60 an ounce.

The U.S. economy expanded at a 4% annual pace in the second quarter, stronger than economists had forecast and a sign that the economy has recovered from the unusually harsh winter. (more…)

Gold extends drop on strong U.S. economic data

Gold futures extended losses to fall for a second session on Wednesday as strong U.S. economic growth data continued to stoke concerns about an interest rate hike. August gold GCQ4 +0.15%  shed $3.40, or 0.3%, to settle at $1,294.90 an ounce on the Comex division of the New York Mercantile Exchange. The U.S. economy grew 4% in the second quarter as consumer spending revived, according to the U.S. government.

Gold slips as data fuels expectations of tighter policy

Gold prices retreated Tuesday to settle below $1,300 as better-than-expected U.S. economic data bolstered expectations of a tighter monetary policy from the Federal Reserve.

Gold for August delivery GCQ4 +0.15%  dropped $5, or 0.4%, to $1,298.30 an ounce. September silver SIU4 -0.10%   fared better, edging up 2 cents, or 0.1%, to $20.58 an ounce. (more…)

Gold falls to settle below $1,300 on strong data

Gold futures fell on Tuesday to settle below $1,300 on expectations of a possible interest rate hike in the wake of strong U.S. economic data. August gold GCQ4 +0.15%  slid $5, or 0.4%, for the session to settle at $1,298.30 an ounce on the Comex division of the New York Mercantile Exchange. The consumer confidence index rose to 90.9 in July from 86.4 in June, the highest level since October 2007, the Conference Board said.

The most active Gold or Silver Trading Company in June 2014

According to give impetus to London Gold or London Silver of The Chinese Gold & Silver Exchange Society, The Chinese Gold & Silver Exchange Society is going to publish a list of the most active Gold or Silver Trading Company in Appledaily or Oriental Daily News every month.  There will list ten companies out every month.

We were in the list of February, March, April and May.  We are in the list of June as well.  We will put even more effort to improve our company and provide the best service to our clients.

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Gold flat as geopolitical worries offset stock gains

Gold futures closed unchanged on Monday, hemmed in between geopolitical turmoil and moderate gains in the U.S. stock market.

Gold for August delivery GCQ4 +0.15%  was flat at $1,303.30 an ounce. September silver SIU4 -0.03%  slid 7 cents, or 0.3%, to $20.57 an ounce.

“In view of the numerous geopolitical risks — fighting has increased again recently in the east of Ukraine, for example, and the cease-fire in the Gaza Strip failed to hold — gold is clearly in greater demand again as a safe haven,” wrote Eugen Weinberg, head of commodity research at Commerzbank in Frankfurt. “However, because physical demand in China and India, the two most important gold markets, is subdued at present, the latest price rises were doubtless attributable above all to short-term-oriented market participants,” he said.

Gold pushed back above $1,300 an ounce Friday but still posted its second consecutive weekly loss. (more…)

African Barrick Gold swings to profit

Tanzania-focused miner African Barrick Gold (AGB.LN) Friday reported an 8% increase in first-half gold production and said it swung to a pretax profit.

First-half gold production of 346,581 ounces was 13% higher than a year earlier, while gold sales of 330,947 ounces were 5% higher. The London-based company posted a pretax profit of $62.2 million, having posted a $857.3 million loss a year earlier when it took a hefty impairment charge on one of its mines. Revenue fell to $445.5 million from $487.4 million. (more…)

Gold recovers 1% to settle above $1300

Gold futures recovered from a three-day losing streak to close above $1,300 on Friday. August gold GCQ4 +0.15%  rose $12.50, or 1%, for the session to settle at $1,303.30 an ounce on the Comex division of the New York Mercantile Exchange. The precious metal is down 0.5% for the week after having closed below $1,300-mark on Thursday, the first time in a month.