Gold price drops to $ 1,345

January 25, 2011

The price of gold has been losing almost 2% yesterday and this morning falls to 1,345 U.S. dollars per fine ounce, report analysts at Commerzbank Corporates & Markets.

Calculated in Euro Gold slid for the first time in nine weeks under the mark of 1,000 EUR. The easing of the debt crisis in the Euro-peripheral countries have apparently led some investors to take profits. Apart from the last few weeks to be observed decline in gold stocks in the SPDR Gold Trust ETF Securities, the fund provider for the last week, the highest outflows from its precious metals ETFs have reported since 24 weeks. According to data from the GFMS gold producers in the third quarter of 2010, 2.16 million ounces (67 tonnes) would have bought back gold and thus its global hedge book by nearly a third to 5.11 million ounces (159 tonnes) is reduced. Since the so-called de-hedging should have continued into the fourth quarter, the gold producers have contributed to the rise in prices for gold in the second half.

Silver stand from the precious metals are currently under the most pressure and give since yesterday after more than 5%. Price-supporting news came from China, however: there were last year, a year earlier, the silver imports increased by 15% to 5159 tonnes, while exports have decreased by 58% to 1575. Thus China is once again a large net importer of silver have been. This should be again this year to change anything.


Gold prices traded slightly firmer

February 25, 2010

The gold price traded today morning supported by a weaker U.S. dollar slightly firmer at U.S. $ 1120 per ounce reported that analysts at Commerzbank Corporates & Markets.

Yesterday gold at 1130 USD per ounce in the meantime have a four-week high marks. This has apparently not led to profit taking in the short-term investors, so that the gold price had initially succumbed again. Has had a favorable impact of yesterday’s price rise, inter alia, due to low inflows into the SPDR Gold Trust. The latter had reported a slight increase in its gold holdings, at 0.3 to 1108 tons.

The President of the Federal Reserve Bank of San Francisco, Janet Yellen, have spoken out in favor of maintaining the extremely low interest rates in the U.S.. This should impact positively on the price of gold tends, as the opportunity cost of holding gold would remain so low. On the other hand, the low inflation is undesirable, as it had been addressed by Yellen also be rather stressful for the price of gold. For this gold as a hedge against inflation risks losing its appeal.

Analysts at Commerzbank Corporates & Markets continue to expect a sideways movement in the gold price in the current trading range since mid-December from 1050 to 1150 USD per troy ounce.