SINGAPORE (Reuters) – Gold broke below the key psychological level of $1,300 an ounce on Thursday as safe-haven demand for the metal eased due to rising Asian equities and strong Chinese manufacturing data.
Physical demand in the region, however, increased slightly on the lower prices, with premiums in the biggest bullion consumer China edging up on buying interest.
SINGAPORE (Reuters) – Gold held steady on Wednesday in Asia after dipping overnight, and looked likely to hold above $1,300 an ounce in the near term as geopolitical tensions from crises in Ukraine and the Gaza strip brought safe-haven bids.
But sluggish physical demand in Asia in the seasonally quiet summer period could weaken support for any price rally and even fail to provide a floor if prices were to decline.
SINGAPORE (Reuters) – Gold stabilised near $1,310 an ounce on Tuesday as escalating tensions over conflicts in Ukraine and the Gaza strip dented global risk appetite and burnished the metal’s safe-haven appeal.
Spot gold was little changed at $1,311.70 an ounce by 0247 GMT. It had gained as much as 0.6 percent in intraday trading on Monday, but failed to hold the gains and closed flat.
SINGAPORE (Reuters) – Gold dipped on Friday on profit-taking after jumping 1.5 percent overnight, but the metal is likely to be supported by a wave of risk aversion after a Malaysian airliner was downed in eastern Ukraine, killing nearly 300 people.
Gold, seen as an alternative investment during times of geopolitical uncertainty, rallied on Thursday after news of the plane crash, which a Ukrainian official said was caused by a missile fired by pro-Russian militants.
SINGAPORE (Reuters) – Gold dipped on Friday on profit-taking after a sharp overnight jump, but the metal is being supported by a wave of risk aversion after a Malaysian airliner was downed in eastern Ukraine, killing nearly 300 people.
Gold, seen as an alternative investment during times of geopolitical uncertainty, rose about 1.5 percent in the previous session after news of the plane crash, which a Ukrainian official said was caused by a missile fired by pro-Russian militants.
SINGAPORE (Reuters) – Gold slipped to trade below a three-month high on Thursday as investors awaited a string of key data releases later in the day to gauge the strength of the global economy and the fate of stimulus measures by central banks.
U.S. data on jobs, unemployment and trade is expected on Thursday, while the outcome of European Central Bank (ECB) policy meeting will also be announced.
SINGAPORE (Reuters) – Gold climbed to a three-month high on Tuesday as a softer dollar and escalating violence in Iraq increased the metal’s appeal, boosting inflows into the top bullion-backed fund.
Spot gold climbed to $1,332.10 an ounce, its highest since March 24, and was flat at $1,327.41 by 0240 GMT. It gained nearly 1 percent in the previous session.
SINGAPORE (Reuters) – Gold slipped on Thursday as stronger equities dented the metal’s safe-haven appeal and investors largely shrugged off weak U.S. economic growth numbers in favour of more recent data.
The U.S. economy contracted at a much steeper pace in the first quarter than previously estimated, turning in one of its worst-ever non-recession performances, but growth already appears to have rebounded strongly.
SINGAPORE, June 25 (Reuters) – China and Singapore are vying
to provide feasible gold price benchmarks in Asia, as calls grow
in the top consuming region for more localized pricing of the
precious metal at a time when the global benchmark is under
Singapore said at an industry conference on Wednesday it
would launch a physical gold contract on an exchange to create a
transparent form of pricing.
SINGAPORE, June 24 (Reuters) – Singapore is set to announce
the launch of a gold futures contract on Wednesday, two sources
familiar with the matter said, joining a race in Asia to provide
a viable alternative to the metal’s global benchmark which is
under regulatory scrutiny.
The physically settled contract will trade on the Singapore
Exchange. This and other planned contracts in Hong
Kong and China could cut Asian reliance on gold’s spot price
benchmark in London and futures bellwether in New York.