Asia Precious Metals Correspondent, Singapore
Ananthalakshmi's Feed
May 22, 2015

Gold demand slows as China eyes equities; lack of weddings in India weighs

SINGAPORE (Reuters) – Gold buying was slow this week in Asia even as global benchmark prices dropped from a three-month high, with the Chinese hooked on surging equities while demand in India stayed weak and was unlikely to pick up as the wedding season cools.

Premiums for bullion over international spot prices dropped in Hong Kong while prices in India were on par with the global benchmark.

May 22, 2015

Asia Gold-Slow demand as China eyes equities; lack of weddings in India

SINGAPORE, May 22 (Reuters) – Gold buying was slow this week
in Asia even as global benchmark prices dropped from a
three-month high, with the Chinese hooked on surging equities
while demand in India stayed weak and was unlikely to pick up as
the wedding season cools.

Premiums for bullion over international spot prices
dropped in Hong Kong while prices in India were on par with the
global benchmark.

May 20, 2015

India’s gold monetisation plan lacks lustre – industry

SINGAPORE/MUMBAI (Reuters) – A proposal in India to attract thousands of tonnes of gold owned by households into a bank deposit scheme will likely fail in its current form as it does not address some key concerns for banks and consumers.

Support from banks would be crucial for the success of the monetisation plan. Deposit schemes, similar to the one proposed on Tuesday by the Narendra Modi-led government, have previously failed as the incentives offered were not profitable for banks.

May 19, 2015

Gold rally suppressed by sharp fund outflows

SINGAPORE, May 19 (Reuters) – The fences are closing in on
bullion bulls as bears take advantage of higher prices to trim
their positions in SPDR Gold Trust, reducing the physical gold
held by the world’s biggest gold exchange-traded fund to its
lowest in four months.

Gold ETFs, such as SPDR, issue shares to investors backed by
physical metal. Liquidation of the shares will release physical
metal into the market. But so far this month the drop in SPDR’s
holdings has not been reflected in spot prices, suggesting a
price correction may be on the cards, analysts say.

May 19, 2015

Gold eases from three-month high on profit-taking, dollar gains

SINGAPORE (Reuters) – Gold slipped after a five-day rally on Tuesday on profit-taking and as the dollar regained some ground, with investors looking to the Greek debt crisis for trading cues, as well as the upcoming minutes from the latest Federal Reserve meeting.

Spot gold had dipped 0.3 percent to $1,221.56 an ounce by 0339 GMT, off a three-month high of $1,232.20 reached in the previous session.

May 18, 2015

Gold near three-month high on sluggish U.S. data, dollar

SINGAPORE (Reuters) – Gold was trading close to a three-month high on Monday, buoyed by a weaker dollar and more soft U.S. data that triggered hopes the Federal Reserve would not hike interest rates soon.

Spot gold was little changed at $1,223.95 an ounce by 0334 GMT, not far from a three-month peak of $1,227.04 reached last week. As of Friday, gold had risen for four straight days in its longest winning streak since March.

May 15, 2015

Gold near three-month high; eyes weekly gain on U.S. rate expectations

SINGAPORE (Reuters) – Gold traded near a three-month high on Friday and was on track for its biggest weekly gain in four months on receding expectations the Federal Reserve would hike U.S. interest rates soon.

Spot gold was steady at $1,219.50 an ounce by 0219 GMT, after rising 0.5 percent on Thursday. Prices had climbed to $1,227.04 in the previous session, their highest since Feb. 17.

May 14, 2015

Gold near five-week high as soft U.S. data eases rate rise fears

SINGAPORE (Reuters) – Gold hovered near a five-week high on Thursday after jumping overnight following sluggish U.S. retail sales data that triggered speculation the Federal Reserve would not raise interest rates soon.

Spot gold ticked 0.2 percent lower to $1,212.30 an ounce by 0329 GMT but remained near the high of $1,218.80 reached on Wednesday. The metal closed that session up 1.9 percent.

May 13, 2015

Gold near one-week high on safe-haven bids as dollar slips

SINGAPORE (Reuters) – Gold held on to overnight gains and was trading near its highest in a week on Wednesday, supported by a softer dollar, but rising bond yields and uncertainty over the timing of a possible U.S. rate hike kept the rally in check.

Spot gold was steady at $1,193.60 an ounce by 0328 GMT, not too far from a one-week top of $1,196.60 reached on Tuesday. The near 1-percent gain in prices in the previous session was triggered by safe-haven bids as the dollar fell and stocks took a hit from volatility in global bond markets.

May 12, 2015

Gold struggles below $1,200 as dollar firms

SINGAPORE (Reuters) – Gold struggled below $1,200 an ounce on Tuesday, following small overnight losses, hurt by a firmer dollar and the absence of any robust safe-haven bids stemming from the Greek debt crisis.

Spot gold was little changed at $1,183.93 an ounce by 0320 GMT, after losing 0.3 percent on Monday.

    • About Ananthalakshmi

      "Anantha is responsible for Reuters' gold coverage in Asia, the biggest consumer of the precious metal. Based in Singapore, she tracks the day-to-day market movement of gold prices during Asian hours, fund flows and central bank purchases. She also covers the physical markets in key buyers China and India. Anantha used to cover U.S. companies earlier from Bangalore."
      Joined Reuters:
      2008
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