SINGAPORE, Feb 27 (Reuters) – China plans to launch a
yuan-denominated gold fix this year to be set through trading on
an exchange, sources familiar with the matter said, as the
world’s second-biggest bullion consumer seeks to gain more say
over the pricing of the precious metal.
The Chinese benchmark would be derived from a new 1 kg
contract to be launched on the state-run Shanghai Gold Exchange,
a senior source directly involved in the process told Reuters.
SINGAPORE (Reuters) – Gold hovered around the key $1,200-an-ounce level on Monday, its lowest in seven weeks, as support for the safe-haven metal eased after a deal was struck over Greece’s debt, while the absence of major consumer China also took a toll.
Spot gold was little changed at $1,202.10 an ounce by 0225 GMT, after dropping to $1,197.95 in the previous session as safe-haven bids receded. The metal recorded its fourth straight weekly decline on Friday.
MUMBAI/SINGAPORE, Feb 19 (Reuters) – Gold imports to top
consumer India are set to jump in coming months after the
central bank eased gold import curbs, ahead of an expected cut
in import duty in next week’s federal budget.
The Reserve Bank of India said on Wednesday banks would
again be allowed to import gold on a “consignment basis”, under
which they act as intermediaries and don’t pay for the stock
until a buyer has been found, which is usually quickly.
SINGAPORE (Reuters) – Gold was trading near a six-week low on Wednesday as equities recovered on hopes Greece would patch together a deal with its creditors, while the absence of major buyer China also dragged on the metal.
Spot gold XAU= eased 0.2 percent to $1,206.86 an ounce by 0313 GMT. It slumped to $1,203.30 on Tuesday, its lowest since Jan. 6, before closing down 1.8 percent due to higher stocks and technical selling.
SINGAPORE (Reuters) – Gold extended gains to a third session on Monday, bolstered by safe-haven bids amid a softer dollar and jitters ahead of negotiations regarding Greece’s future in the euro zone.
Spot gold edged up 0.5 percent to $1,235.50 an ounce by 0746 GMT, after gaining 0.6 percent in the previous session.
SINGAPORE (Reuters) – Gold held above a five-week low on Friday amid a weaker dollar and uncertainty over debt-laden Greece, but the safe-haven metal was set to close down for a third straight week on expectations of higher U.S. interest rates.
Spot gold had climbed 0.4 percent to $1,227 an ounce by 0323 GMT. The metal hit a five-week low of $1,216.45 in the previous session, before recovering to close up 0.3 percent.