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Gold prices advanced again Monday as the dollar pared early gains against major currencies and oil hit a new one year high.
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Commodities prices continue to benefit from growing optimism about global economic trends and conditions. Gold silver and oil all have benefited from this. Other commodities also have done well as investors some fabricators and others have built inventories.
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The 106th China Export and Import Trade Fair or Canton Fair in the southern city of Guangzhou saw more than 160 000 buyers from over 200 countries participate mainly because of the enthusiasm that China is infusing to the global economy
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Introducing Broker works with clients of commodity and futures accounts, but allows a futures Commission Merchant to handle the trading floor operations.
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The Indian farmers haven t even heard of electronically traded exchanges. For the record the exchange authorities both MCX and NCDEX claims farmers don t come even close to Futures trading anywhere in the world. Could be true but let s follow Google way of approaching business.
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Last week Kitco one of the world s premier retailers of precious metals launched a unique index in bullion: the Kitco Gold Index through which you can determine whether the value of gold is actual a reflection of changes in the US dollar value or a combination of both.
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The Remuneration Committee of the Board of Reliance Industries Ltd (RIL) decided the compensation payable to its C MD Mukesh Ambani at Rs 15 crore in aggregate reflecting his desire to set a personal example of moderation in Executive Compensation.
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Jeffrey Rhodes CEO of INTL Commodities warned that prices can fall sharply if all speculators head for the exit doors at the same time . Gold could drop to a low of $920 an ounce in the medium term Sajith said. Gold yesterday rose to a record in New York and London on speculation that a weakening dollar and faster inflation will boost the appeal of precious metals. Futures reached $1 069.70 an ounce in New York while spot gold climbed to $1 068.63 in London.
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Weak physical demand for gold raises doubts about the sustainability of high prices although it may hold on to the $1 000 level for the next few months a senior official at major metals consultancy GFMS said on Tuesday. Investment and jewellery demand have been key drivers behind the steady rise in gold prices over the past few years and current weakness in jewellery demand is a worrying sign said GFMS chief executive Paul Walker.
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I have long suspected that the US would fully commit itself to the same path as Japan did when its real estate bubble crashed and that was a policy of benign neglect of their currency only in the case of the Japanese it was a transparent and deliberate policy of weakening the Yen. The US wants nay it needs the Dollar lower to keep its export market alive and more importantly to reduce its debt payments in real terms.
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