Vietnam Business News

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• Despite current commodity doldrums, McEwen stands pat on $5,000 gold
• December shaping up to be an ugly month for gold
• Gold futures inched up Friday after losses
• Gold and silver moved up marginally on Saturday tracking global cues
• China’s total gold demand would grow to reach 750 tons in 2011
• Is gold’s bull market over?
• Battle lines drawn in gold price direction predictions
• Gold bullion bulls seek new trading range
• Twelve bullish factors driving gold to $2,000 and higher despite recent setback
• Gold fell to 6-week low below the Rs 28,000 per 10 grams-level

Despite current commodity doldrums, McEwen stands pat on $5,000 gold Posted: 17 Dec 2011 01:04 AM PST As gold bugs get discouraged in the wake of year-end sell offs, über precious metals mining entrepreneur Rob McEwen still is firmly bullish on gold in the long run and stands pat on his $5,000 per ounce gold price prediction. In a talk to the Geological Society of Nevada Wednesday in Reno, McEwen urged the [...]

December shaping up to be an ugly month for gold Posted: 17 Dec 2011 01:00 AM PST December is shaping up to be an ugly month for  gold, and that may be because so many investors are sitting on the sidelines. Open interest, or the positions held by investors at the Comex division of the New York Mercantile Exchange, is running particularly low for this time of the year. In fact, compared [...]

Gold futures inched up Friday after losses Posted: 17 Dec 2011 01:00 AM PST Gold futures inched up Friday, recovering a fraction of this week's heavy losses on bargain buying, vying to break a four-day losing streak. Gold for February delivery  rose $17.90 an ounce, or 1.1%, to $1,595.50 on the Comex division of the New York Mercantile Exchange, paring some of the week's losses. Gold took a pounding this [...]

Gold and silver moved up marginally on Saturday tracking global cues Posted: 17 Dec 2011 12:42 AM PST Gold and silver moved up marginally on Saturday tracking global cues. The metals which lost most in five days finally regained their health after Italygovernment won a confidence vote on austerity measures in the lower house. Euro lifted up after the news driving US dollar down. Overseas spot gold rose and was seen back to $1,600 an ounce. The [...]

China’s total gold demand would grow to reach 750 tons in 2011 Posted: 17 Dec 2011 12:41 AM PST (MENAFN) The World Gold Council (WGC) said that in 2011, China’s total gold demand would grow to reach 750 tons, driven by high demand in investment and jewelry, reported Xinhua News. The WGC added that during the year’s third quarter, demand for gold bars and coins in the country surged by 24 percent from 2010′s [...]

Is gold’s bull market over? Posted: 17 Dec 2011 12:15 AM PST Early Wednesday, the euro dropped to under $1.30, its lowest level since January. The decline came after Italy paid a euro era record yield of 6.47% to sell five-year notes. Last month, Italy paid an average yield of 6.29%, which shows that despite the EU summit, there has been very little change in the euro [...]

Battle lines drawn in gold price direction predictions Posted: 17 Dec 2011 12:00 AM PST As gold prices plunged as much as 3.5% in trade yesterday, permabear and economist, Nouriel Roubini, was engaging in some gold bull baiting on Twitter. “Gold at a 7 weeks [sic] low down to 1635. Where is 2000 gold dear gold bugs?” He said, and, later in the day, “Gold bugs in hiding as gold [...]

Gold bullion bulls seek new trading range Posted: 16 Dec 2011 11:55 PM PST The second-biggest slump in gold prices since the financial crisis has rattled bullion bulls, as implied volatility in the gold options market is subdued, suggesting the bullion is seeking to find a new range. The precious metal on Wednesday slid below its 200-day moving average for the first time in three years. With that, more [...]

Twelve bullish factors driving gold to $2,000 and higher despite recent setback Posted: 16 Dec 2011 11:50 PM PST Edited version of Jeff Nichols’ recent address to the China Gold & Precious Metals Summit in Shanghai. Forecasters, whether of the economy, or the stock market, or the gold price are frequently wrong . . . but we are never in doubt.  It is up to you – the investor – to listen, evaluate, doubt, [...]

Gold fell to 6-week low below the Rs 28,000 per 10 grams-level Posted: 16 Dec 2011 11:43 PM PST Gold fell below the Rs 28,000 per 10 grams-level for the first time in six weeks in the national capital today, losing Rs 375 to Rs 27,765 per 10 grams on sustained selling amid reduced offtake at higher levels and a weakening global trend. Falling for the fifth straight day, gold prices declined to levels [...]

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