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Monthly Archives: September 2014

Gold retreats on firm dollar, down almost 6% in September

Gold prices fell on Tuesday, closing out September almost 6% weaker, as the dollar continues to bang out gains that put it on track for its best quarter since the financial crisis.

Gold for December GCZ4, +1.63%  delivery shed $7.20 to settle at $1,211.60 an ounce. The 5.9% slide is the worst monthly drop since gold lost 12% in June. December silver SIZ4, +2.99%  rose 10 cents, or 0.6%, to $17.48 an ounce. (more…)

The most active Gold or Silver Trading Company in Aug 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 from February to July.  We are in the list of August as well.  We will put even more effort to improve our company and provide the best service to our clients.

Aug 2014

Gold prices get support from Hong Kong unrest

Gold bugs on Monday enjoyed a slight respite from all the declines, but they could be in for another rough week if the next batch of economic numbers, notably the jobs report at the end of the week, shows further economic strength.

Gold for December delivery GCZ4, +1.67%  was up $3.40 to $1,218.80 an ounce. December silver SIZ4, +3.02%  rose 10 cents to $17.48 an ounce.

Gold ended Friday’s session with another dip, capping off a stretch of four-straight weeks of losses amid a climbing dollar and relatively upbeat economic data. It didn’t help that the broader stock market logged solid gains, including a 1% push on the Dow DJIA, +1.64%

Gold is getting a lift from unrest in Hong Kong, where the Hang Seng index HSI, +1.17%  plunged 2.2% in wake of pro-democracy protests that exploded over the weekend. (more…)

Gold posts fourth weekly loss as dollar climbs

Gold prices fell Friday, marking a fourth week of retreat, as the dollar climbed on upbeat U.S. economic data, and as U.S. stocks traded higher after a sharp fall.

Gold December futures contract GCZ4, +1.67%  lost $6.50 to settle at $1,215.40 an ounce. The precious metal posted a weekly loss of 0.1%. December silver SIZ4, +2.99%  also declined 10 cents, or 0.6%, to $17.48 an ounce. (more…)

News from Wen Wei Po

Here is the news of  Wen Wei Po:  Hong Kong and Shenzhen are going to develop Precious Metals in Qianhai.

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Gold recovers on steep U.S. stock market drop

Gold prices reversed losses to rebound on Thursday in response to a broad-based selloff in U.S. stocks.

Gold for December delivery GCZ4, +1.67%  rose $2.40 to settle at $1,221.90 an ounce. December silver SIZ4, +3.02%  declined 26 cents to $17.38 an ounce.

Gold retreated earlier as the U.S. dollar remained firm against its rivals but bounced as all three stock indexes posted large drops. The S&P 500 SPX, +1.75%  is off 1.6% to 1,966.91 and the Dow Jones Industrial Average DJIA, +1.64%  fell 1.5% to 16,958.19. (more…)

Gold retreats as U.S. dollar strengthens

Gold prices on Wednesday surrendered recent gains as the U.S. dollar gained against rivals on strong economic data.

Gold for December delivery GCZ4, +1.67%  fell $2.50 higher to settle at $1,219.50 an ounce. December silver SIZ4, +3.02%  fell 7 cents to $17.64 an ounce.

The ICE U.S. Dollar Index DXY, -0.22% which measures the greenback’s strength against six rival currencies, rose to 85.03 Wednesday from 84.66 late Tuesday. The greenback was bolstered by sales of new single-family homes which surged 18% in August to a seasonally adjusted annual rate of 504,000, the fastest pace in more than six years. (more…)

Gold $10,000, and why ‘golden’ is worse than ‘death’ when it comes to crosses

With much of the big market-moving news taking a pause, investors and the financial media have gotten fixated on what’s going on within the imploding small-cap universe.

If the fear-mongering in this whole Russell 2000 RUT, +1.93% “death cross” hype is giving you the night terrors, just wait until the “golden cross” stumbles into town. The flowery descriptors couldn’t be more misleading, unless “death” is a good thing and “golden” is something to be feared. (more…)

Gold futures extend gains for second day

Gold prices gained ground on Tuesday, building on the prior session’s moderate advance, while silver moved off of multiyear lows.

Gold for December delivery GCZ4, +0.46%  rose $4.10, or 0.3%, to settle at $1,222 an ounce while December silver SIZ4, +0.58%  reversed losses and edged up a penny to $17.71 an ounce. Silver futures on Monday hit four-year lows, according to FactSet. (more…)

Gold crashes and is now tarnished for good

Gold shined brightly at the beginning of 2014, with bullion prices jumping by about 13% from New Year’s Day until mid-March.

But since spring, and particularly since July, gold prices GCZ4, +0.36%  have been on the decline. Last week, the precious metal settled near lows not seen since Christmas 2013.

So should investors consider this sell-off as an opportunity to buy precious metals on the cheap? Or is gold really tarnished for some time to come? Sadly for gold bugs, it’s the latter. (more…)

China growth concerns weigh on U.S. stocks

U.S. stocks closed sharply lower on Monday, with the S&P 500 falling by its largest margin in nearly seven weeks.

Investors turned skittish as they fretted about falling commodity prices and concerns about global growth.

A decline in economic activity in August, measured by Chicago Federal Reserve as well as a drop in existing-home sales contributed to the dour Wall Street mood. (more…)