Vietnam Business News

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• U.S. gold also slipped 0.7 percent to $1,595.50
• Spot gold fell to $1,593.65, down 0.7 percent from the previous close
• Gold: don’t be fooled by poor analysis
• Government eases norms for gold-silver mix in Kanchipuram sarees
• Indian gold futures are likely to open steady on Tuesday
• Uzbekistan to develope a new gold mine in the Tashkent region
• Gold rose in London as dollar declined against euro
• Will gold shine in 2012 too?
• Gold prices risk falling to $1450/oz as long as it remains below $1625/oz
• Is gold losing its haven status?

U.S. gold also slipped 0.7 percent to $1,595.50 Posted: 27 Dec 2011 01:00 AM PST Gold hovered around $1,600 an ounce on Tuesday, as investors stayed on the sidelines in the final week of the year with lingering concerns about the euro zone debt crisis. Recent upbeat U.S. economic data spurred a rally in riskier assets including equities and industrial metals, and sent gold prices up about half a percent last week. [...]

Spot gold fell to $1,593.65, down 0.7 percent from the previous close Posted: 27 Dec 2011 12:00 AM PST Gold hovered around $1,600 an ounce on Tuesday, as investors stayed on the sidelines in the final week of the year with lingering concerns about the euro zone debt crisis. Recent upbeat U.S. economic data spurred a rally in riskier assets including equities and industrial metals, and sent gold prices up about half a percent last week. [...]

Gold: don’t be fooled by poor analysis Posted: 26 Dec 2011 11:50 PM PST I have read many articles over the years on the reasons for investing in gold. A good example can be found here, on SA. I find these types of articles very useful in shaping my opinions and challenging opinions that I have, especially when they are wrong. Over time it has helped me avoid losses on [...]

Government eases norms for gold-silver mix in Kanchipuram sarees Posted: 26 Dec 2011 11:30 PM PST As gold and silver prices breached one high after another in 2011, Kanchipuram’s traditional silk saree weavers had a tough choice in their hands-to either reduce the use of gold and silver in making zari, the deocrative lace that defines sarees made here, or continue prefixing sarees with the name Kanchipuram. They couldn’t do both. But now [...]

Indian gold futures are likely to open steady on Tuesday Posted: 26 Dec 2011 11:01 PM PST Indian gold futures are likely to open steady on Tuesday tracking flat overseas markets and will take cues from the rupee, which was little changed in early trade, analysts said. The most-active gold for February delivery on the Multi Commodity Exchange (MCX) ended 0.06 percent lower at 27,779 rupees per 10 grams on Monday. The rupee plays an [...]

Uzbekistan to develope a new gold mine in the Tashkent region Posted: 26 Dec 2011 11:01 PM PST Central Asian nation Uzbekistan is all set to increase gold production as it announced devoloping a new gold mine in the Tashkent region. According to country’smineral ministry, the new gold mine will be established in Kayragach in the eastern Tashkent region with a production capacity of 80 tons of ore each year. The new goldmine [...]

Gold rose in London as dollar declined against euro Posted: 26 Dec 2011 11:00 PM PST Gold rose in London as the dollar declined against the euro, boosting the appeal of precious metals as alternative assets. Bullion has climbed 13 percent this year, on track for an 11th straight annual gain. Investors have increased purchases as concerns that global growth will slow lifted demand for the metal as a haven. Still, prices have [...]

Will gold shine in 2012 too? Posted: 26 Dec 2011 10:50 PM PST Gold’s spectacular sprint has been cut short by a speed bump in the past few weeks. From an all-time high of over $1,900 an ounce (Rs35,332 per 10 gm at $1: Rs52.72) in September, the price of the precious metal fell to under $1,590 an ounce (Rs29,520 per 10 gm) in mid-December. The question worrying [...]

Gold prices risk falling to $1450/oz as long as it remains below $1625/oz Posted: 26 Dec 2011 10:36 PM PST Since Gold is currently trading in a downtrend channel, we can safely look into some potential price levels gold will target it starts moving even lower. COMEX gold is trading in the $1600-$1610 zone. The downtrend resistance line has proved to be very strong since prices turned south after hitting the trendline. As such, we can assume [...]

Is gold losing its haven status? Posted: 26 Dec 2011 10:20 PM PST Whenever you ask a market expert why gold has done so well, the reply always is "safe haven" demand. But does gold continue to enjoy 'safe haven’ status? Gold’s traditional correlations with other asset classes have been breaking down in recent months. Since September 2011, gold has dropped 16 per cent even as the dollar [...]

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