Home » gold » gold prices prediction may 8 2012

Monday, May 7, 2012

gold prices prediction may 8 2012

gold prices prediction may 8 2012, spot gold, Gold held steady on Tuesday as a backlash by voters in Greece and France against austerity measures continued to weigh on the euro, while upbeat prospects for demand in India and China, the world's top two gold consumer, lent some support to prices.

FUNDAMENTALS
* Spot gold was little changed at $1,637.49 an ounce by 0100 GMT.
* U.S. gold traded nearly flat at $1,638.10.

* Hong Kong shipped 62,907 kilograms of gold to mainland China in March, up nearly 59 percent on the month, said the Hong Kong Census and Statistics Department.

* Gold imports by India, the world's biggest buyer of bullion, could rise on pent-up demand from jewellers after the federal government decided to scrap an excise duty on jewellery it imposed in March, the head of a trade body said on Monday.

* The euro edged lower, extending losses from the previous session after elections in France and Greece cast doubts on the political will and commitment to austerity measures seen crucial to tackling the euro zone debt crisis.

* The dollar, U.S. Treasuries and German Bunds have become the safe haven of choice among investors during the political upheaval in Europe.

* German industrial orders shot up in March with foreign demand coming almost exclusively from non-euro zone nations, highlighting Germany's resilience to the debt crisis but also its increased reliance on markets outside the bloc.

MARKET NEWS
* Investors brushed off Europe's election results, as the S&P 500 rebounded from early losses to end nearly unchanged on Monday.
* U.S. crude futures were barely changed in early trade on Tuesday, with oil investors awaiting U.S. crude inventory data.

DATA/EVENTS
1000 Germany Industrial output mm Mar
1145 U.S. ICSC chain stores yy Weekly
1255 U.S. Retail sales Weekly
1400 U.S. IBD/TIPP consumer confidence index May
1400 U.S. ISM semi-annual economic forecasts

For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)