Global demand for gold increased 6 percent year-on-year in the third quarter to 1,053.9 tonnes, the World Gold Council said Thursday. This equates to $57.7 billion, an all-time high in value terms. This increase was driven by investment demand which rose 33 percent year-on-year to 468.
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Quotes from Standard Chartered:-In recent days, investor flows have turned strongly positive for gold, as investors worry about the outlook for fiat currencies, but other markets have also seen inflows.
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JUNCKER THE ISSUE OF GOLD RESERVE USE FOR EFSF PURPOSES WAS NOT DISCUSSED IN CANNES AT THE G20, NOR AT THE EUROGROUP ON MONDAYThe material has been provided by Instaforex Company - ...
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Quotes from Standard Chartered:-We look for higher prices as fundamentals remain supportive and Asian demand remains strong. Investors are starting to increase long positions once more.-Technical view is bearish short-term, but this is being challenged by price action.
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Quotes from Standard Chartered:-While gold is often seen a safe haven, market behaviour this year has not been in line with this.
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News: U.S. gold rose as much as 1 pct to $1,729.4 an ounce, and eased slightly to $1,727.20 by 0314 GMT, while spot gold rose 0.4 pct to $1,725.
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Quotes from Standard Chartered:-In gold, investors have shown no clear trends - presumably waiting for some resolution of the European impasse.-According to the most recent data, holdings of the major physical ETFs have risen by 0.4% in October and stand at 71.
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Quotes from Standard Chartered:-From January to October, the correlation (on a weekly basis) between gold and copper has been 50%, the correlation with UK equities has been 23% and with the USD -46%.
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Quotes from Standard Chartered:-We look for higher prices as fundamentals remain supportive and Asian demand remains strong. Investors remain on the sidelines.-Technical view is bearish short-term. A break above USD 1,704/oz would suggest the downtrend is weakening.
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Quotes from Barclays Capital:-Gold remains capped below the 1705/30 breakout zone. With volume seemingly heavier on down days (black candles) the absence of demand at higher levels points to further ranging.
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Quotes from Standard Chartered:
-We expect spot gold prices to remain below USD 1,704/oz as the double-top pattern continues to dominate. This should see losses accelerate towards the USD 1,500/oz and USD 1,470/oz targets.
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Quotes from Societe Generale Cross Asset Research:-EUR/USD may grab all the headlines, as Europe's leaders struggle to reach unanimity around a plan to'save the euro' - and then struggle even more to implement any plan they come up with - but the bigger story of the last couple of months has been ho...
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Quotes from Standard Chartered:-The market is likely to remain volatile, but we look for higher prices as fundamentals remain supportive.-Technical view is still bearish. Support is at USD 1,532/oz and USD 1,470/oz.-We are bullish on the US dollar (USD) medium-term and forecast EUR-USD at 1.
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