Bullions shed more than 1% at Comex

Gold settles at their lowest level since early September Bullion metal prices ended substantially lower on Tuesday, 24 October 2012 at Comex. Gold futures closed sharply lower on Tuesday to settle at their lowest level since early September as downbeat corporate-earnings reports prompted investors to flee equities and commodities and seek safety in the U.S. dollar. Gold for December delivery dropped $16.90, or 1%, to settle at $1,709.40 an ounce on the Comex division of the New York Mercantile Exchange. Prices fell by as much as $21 to a low $1,705.10 during the Comex session. December silver futures settled down 46 cents, or 1.4%, to $31.79 an ounce.

Precious metals end moderately higher

Bullions rise for first time in three sessions Bullion metals ended higher for first time in three days at Comex on Monday, 22 October 2012. Prices rose as traders awaited the outcome an upcoming Federal Reserve meeting on U.S. monetary policy later this week. Prices also rose after the dollar slipped earlier during the day. Gold for December delivery on Monday rose $2.3, or 0.1%, to $1,726.3 an ounce on the Comex division of the New York Mercantile Exchange. Prices rose to a high of $1,730 during intra day trading. Prices closed 2% lower last week. It was second consecutive weekly loss for the yellow metal.

Strong gains for bullions

Weak job report and weak dollar impart the dazzle Bullion prices at Comex rose sharply on Friday, 07 September 2012 settling at their best in more than six months, after a negative jobs report at Wall Street was thought to hasten additional U.S. economic stimulus measures. The low dollar also aided in prices moving up. Gold for December delivery advanced $34.90, or 2.1%, to settle at $1,740.50 an ounce on the Comex division on Friday. That was gold's highest settlement since late February. On the week, gold rose 3.1%, its third consecutive week of gains December silver gained $1.02, or 3.1%, to $33.69 an ounce on Friday. That was silver's highest finish since March. Silver rose 7.2% in the five-day period. Further impulse for silver, metals widely used in industrial sectors, came from the announcement Friday that China had approved another batch of multi-million dollar infrastructure projects. Latest data from the Labor Department at Wall Street showed that U.S. nonfarm payrolls rose by 96,000 in August, 2012. This came in well below market estimates around 125,000 and compared to July's revised growth of 141,000 jobs. The unemployment rate fell to 8.1%, down from 8.3% in July, as more people checked out of the workforce. The dollar index, whch weighs the strength of the dollar against a basket of six other currencies, fell by almost 0.8% on Friday.

Bullions shine due to positive economic data

Lower dollar adds further glaze Bullion metal prices ended higher at Comex on Friday, 03 August 2012 snapping a three-day losing streak after U.S. employment data showed a rebound in hiring last month and as the dollar traded weaker. Gold for December delivery advanced $18.60, or 1.2%, to settle at $1,609.30 an ounce on the Comex division of the New York Mercantile Exchange. The metal declined 0.5% on the week, however.

Bullions end little higher

Prices rise for fourth straight day Yellow metal prices ended little higher on Monday, 30 July 2012 at Comex. Prices rose as traders anticipated that Central banks will take some action in both US and Europe as a step to solve their respective problems. Gold for August delivery ended higher by $0.7 or 0.04%, to end at $1,618 an ounce on the Comex division of the New York Mercantile Exchange on Monday. Prices rose for fourth straight session. On Monday, silver prices for September delivery ended higher by54 cents or 2% at $28.03.

Bullions rise for third straight day

Prices register small weekly gains too Bullion metal prices rose on Friday, 27 July 2012 at Comex extending gains for third straight day after France and Germany pledged to support for the euro, pressuring the U.S. dollar. Prices have incresaed this week boosted by comments from European Central Bank officials. Gold for August delivery rose $2.90, or 0.2%, to settle at $1,618 an ounce on the Comex division of the New York Mercantile Exchange on Friday. For the week, gold gained 2.2%. Prices moved well off highs, however, as the session progressed. Gold earlier traded as high as $1,628.60 an ounce.

Can there be a gold sell off ?

Gold, which has been in a corrective mode for a little less than a year, seems poised for another selloff as the dollar reaches its breakout level. The US dollar and gold have an inverse relationship as long as panic and inflation have not gripped the markets. Europe has been looming over the horizon for quite some time, but it has not created a panic in the market yet. Also, with the general slowdown in the global economy, inflation is not on the horizon except in a few emerging countries. If this scenario continues we could see a further selloff in gold on a dollar rally.

Mixed finish for bullions

Gold manages to eke out gains but silver drops on Friday Precious metals ended mixed at Comex on Friday, 08 June 2012. Gold futures finished lower for the week on Friday, 08 June 2012 as recent comments by the top U.S. central banker squashed hopes of immediate stimulus lifting the dollar. Gold, however, ended Friday's session on a positive note, with traders unwilling to short the metal ahead of a weekend of potential gold market-moving developments. But silver prices ended lower for the day. Gold for August delivery tacked on $3.40, or 0.2%, to settle at $1,591.40 an ounce on the Comex division of the New York Mercantile Exchange, rebounding after touching a low of $1,556.40 on Friday. Prices ended 1.9% lower for the week. July silver fell 6 cents, or 0.2%, to $28.47 an ounce on Friday, finishing 0.1% lower for the week.

Precious metals turn pale on the first trading day of the week

Prices fail to find support from lower dollar and weak data Bullion metal prices ended lower on Monday, 04 June 2012 at Comex. A lower dollar and weak economic data failed to provide the impetus to the bullions and make them attractive on their safe-haven investment appeal. The market consolidated and saw a downside price correction following big and impressive price gains scored on Friday. Gold for August delivery ended lower by $8.2 or 0.5%, to end at $1,613.9 an ounce on the Comex division of the New York Mercantile Exchange on Monday. During the session, it traded between a high of $1,629.70 and a low of $1,610.

Precious metals turn pale

Prices end near the daily low on a late-session downside move Bullion metal prices ended lower on Tuesday, 29 May 2012 at Comex. Prices ended the U.S. day session modestly lower and near the daily low on a late-session downside move. The U.S. dollar index rallied, the Euro currency slumped and crude oil prices weakened in the immediate wake of a credit rating downgrade for Spain. Gold for June delivery ended lower by $20.20 or 1.3%, to end at $1,548.7 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday. Gold for August delivery, which is the most-active contract, fell $20.20, or 1.3%, to settle at $1,551 an ounce. On Tuesday, silver prices for July delivery ended lower by 60 cents or 2.1% at $27.79.

Precious metals end moderately lower

Lower dollar and firmer crude prices limit selling Bullion metal prices ended moderately lower on Monday, 21 May 2012 at Comex. The key outside markets were mildly bullish for the precious metals Monday, as the U.S. dollar index was slightly lower, while crude oil prices were firmer. That did limit selling pressure in the precious metals markets on Monday. Gold for June delivery ended lower by $3.2 or 0.2%, to end at $1,588.7 an ounce on the Comex division of the New York Mercantile Exchange on Monday. The yellow metal saw some consolidation and a corrective pullback after recent strong gains that pushed prices well up from last week's 10-month low of $1,526.70. On Monday, silver prices for July delivery ended lower by 39 cents or 1.4% at $28.32.

Precious metals continue to shed glaze

Prices register big weekly losses Precious metal futures fell on Friday, 11 May 2012 at Comex with recent strength in the U.S. dollar dragging prices lower. Gold prices finished off the day's low, however, as data showing that U.S. consumer sentiment hit its highest level in more than 4 years prompted the dollar to lose some of its safe-haven appeal and trade off session highs. Gold for June delivery shed $11.50, or 0.7%, to settle at $1,584 an ounce on the Comex division of the New York Mercantile Exchange, marking its lowest settlement level of the year. Prices had dropped as much as $23.50 to touch a low of $1,572 an ounce earlier Friday. They lost 3.7% for the week, marking their second weekly loss.

Precious metals end four-day losing streak

Prices move up following disappointing job report Bullion metal prices ended higher on Friday, 04 May 2012 at Comex. Bullion futures prices ended the U.S. day session higher due to weak U.S. economic data, the much awaited job report and unemployment data. Gold also received a boost from uncertainties over the weekend, mainly in the euro zone. Gold had earlier fluctuated between small gains and losses, under pressure from a higher dollar. Gold for June delivery ended higher by $10.4 or 0.6%, to end at $1,645.2 an ounce on the Comex division of the New York Mercantile Exchange on Friday. Gold rose for the first time in five days. For the week, gold lost 1.2%. On Friday, silver prices for July delivery ended higher by 42 cents or 1.4% at $30.43. For the week, silver lost 3%.

Mixed finish for bullions

Gold gains but silver drops Gold futures at Comex edged higher on Friday, 20 April 2012 underpinned by a weaker dollar. For the most part prices traded in narrow range lacking catalysts. Gold for June delivery advanced $1.40, or 0.1%, to settle at $1,642.80 an ounce on the Comex division of the New York Mercantile Exchange on Friday. On the week, gold lost 1%. May silver slipped 13 cents, or 0.4%, to end at $31.65 an ounce on Friday. On the week, however, silver gained 0.8%.

Precious metals drop

Both gold and silver prices shed around 0.7%

Bullion metal prices ended lower on Wednesday, 18 April 2012 at Comex. Prices fell as physical demand of gold seemed to drop. A steady dollar also restricted price rise. Prices fell in tandem with equities, which slipped over disappointing earning reports.

Gold for June delivery ended lower by $11.5 or 0.7%, to end at $1,639.6 an ounce on the Comex division of the New York Mercantile Exchange on Wednesday. The metal had gained 1.8% last week.

Precious metals end marginally lower

Prices move between small gains and losses throughout the session

Bullion metal prices ended little lower on Wednesday, 11 April 2012 at Comex. Trading was tentative Wednesday morning as the market place digested news out of the Indian Ocean region, where a major earthquake occurred near Indonesia overnight. The key outside markets were bullish for the precious metals Wednesday as crude oil prices were higher and the U.S. dollar index was lower.

Mixed finish for precious metals

Gold ends moderately higher but silver slips

Bullion metal prices ended mixed on Monday, 09 April 2012 at Comex. Gold prices ended moderately higher but silver prices slipped. As U.S. stocks and commodity markets were closed on last Friday, in observance of Good Friday, Monday was the first opportunity for investors to react to the disappointing employment data. U.S stocks opened lower and oil traded lower. The weaker U.S. dollar index Monday was friendly for precious metals markets.

Gold for June delivery ended higher by $13.8 or 0.9%, to end at $1,643.9 an ounce on the Comex division of the New York Mercantile Exchange on Monday. The metal had shed 2.5% last week.

Precious metals witness mixed finish

Gold ends lower following Fed's comments

Bullion metal prices ended mixed on Tuesday, 03 April 2012 at Comex. Comex gold futures ended the U.S. day session lower while silver prices advanced. Comex gold futures prices traded sharply lower in afternoon trading on Tuesday, in a strongly bearish response to the afternoon release of the minutes of the last Federal Open Market Committee meeting of the U.S. Federal Reserve. The key “outside markets” were also bearish for the precious metals on Tuesday, as the U.S. dollar index was higher and crude oil prices were lower. Silver traded lower alongside gold earlier but changed course in the mid morning hours.



Gold for June delivery ended lower by $7.7 or 0.5%, to end at $1,672 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday. The metal had spent most part of the earlier week in the red. That brought first quarterly gains of gold to 6.7%. For March 2012, gold declined 2.3%.

On Tuesday, silver prices for May delivery ended higher by $0.17 or 0.5% at $33.27. Silver gained 6.5% during February 2012. On the first quarter, silver jumped 16%, which follows three quarters of losses in 2011. For the month of March, silver declined 6%.

A sleepy market place got a bucket of cold water thrown in its face in afternoon trading on Tuesday when the latest FOMC minutes were released and hinted further that any additional quantitative easing from the U.S. central bank is not likely. Some FOMC members even pondered at what point to begin to look at raising U.S. interest rates. That news sent the U.S. dollar index solidly higher and many commodity futures markets, including gold lower.

Part of gold's strength in recent years has been expectations of more inflation and continued monetary stimulus by the Fed.

In the currency market on Tuesday, the Dollar Index, which weighs the strength of dollar against basket of six other currencies rose by almost 0.7%. It was essentially trading flat for the entire morning and rose only after Fed's comments.

Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa. But bullions have registered increase in prices despite strong dollar in recent times and vice versa.

Additionally, reports this week say India's gold imports have declined by around two-thirds from this time last year, due to a gold retailers' strike to protest additional government taxes on gold. The gold retailers are continuing to protest and are now asking the Indian government to at least reduce the new tax increase on the yellow metal. This situation has been a bearish drag on gold the past few weeks.

At Wall Street, The Commerce Department in US reported that orders for goods produced in U.S. factories rose 1.3% in February, 2012. Market had expected orders to climb 1.5%. Factory orders were revised down to a 1.1% decline in January from a prior estimate of a 1.0% drop.

At the MCX, gold prices for June delivery closed lower by Rs 112 (0.39%) at Rs 28,445 per ten grams. Prices rose to a high of Rs 28,579 per 10 grams and fell to a low of Rs 28,420 per 10 grams during the day's trading.

At the MCX, silver prices for May delivery closed lower by Rs 28 (0.04%) at Rs 57,567/Kg. Prices opened at Rs 57,550/kg and fell to a low of Rs 57,103/Kg during the day's trading.

Precious metals add glitter

Gold and silver move up following US manufacturing data Bullion metal prices ended higher on Monday, 02 April 2012 at Comex. Comex gold futures ended the U.S. day session modestly higher on Monday, on some short covering and bargain hunting following recent selling pressure. The key “outside markets” also turned bullish for the precious metals late Monday morning, as the U.S. dollar index was weaker and crude oil prices were solidly higher. Gold is also closer to more physical demand with wedding season in India ahead. Gold for June delivery ended higher by $7.8 or 0.5%, to end at $1,679.7 an ounce on the Comex division of the New York Mercantile Exchange on Monday. The metal had spent most part of the earlier week in the red. That brought first quarterly gains of gold to 6.7%. For March 2012, gold declined 2.3%. On Monday, silver prices for May delivery ended higher by $0.06 or 1.9% at $33.1. Silver gained 6.5% during February 2012. On the first quarter, silver jumped 16%, which follows three quarters of losses in 2011. For the month of March, silver declined 6%.

Bright day for precious metals

Gold and silver gain 6.7% and 16% respectively during first quarter Comex gold futures rallied on Friday, 30 March 2012 breaking a three-day losing streak. Gold futures for June delivery rose $17, or 1%, to end the day at $1,671.90 an ounce on the Comex division of the New York Mercantile Exchange. Support on Friday also came from a lower dollar and as buyers came back to the gold market after the recent selloff. That brought quarterly gains of gold to 6.7% in Q1, which follows a 3.4% decline in the fourth quarter of 2011 and yearly gains of 10%. On the month, gold declined 2.3%, as it ended February at $1,711.30 an ounce. May silver rose 50 cents, or 1.5%, to settle at $32.48 an ounce on Friday. On the quarter, silver jumped 16%, which follows three quarters of losses in 2011 and yearly losses of 9.8%. On the month, silver declined 6%.