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Thursday, May 24, 2012

spot gold prices prediction may 25 2012

gold prices prediction may 25 2012 : Gold barely moved on Friday in line with calmer equities but the metal was on track for a 6 percent loss this month, hit by fears the debt crisis in Europe could spiral out of control and trigger a global ecomomic slowdown.

Dealers are awaiting the release of U.S. Commodity Futures Trading Commission data later in the day for clues on investors' interest after net "long" managed money in U.S. gold -- which reflects bullish bets on bullion -- fell by $2.2 billion to $12.2 billion for the week ended May 15

FUNDAMENTALS
* Spot gold was steady at $1,558.40 an ounce by 0046 GMT after hitting a session high at $1,577.50 on Thursday, when the euro briefly rose against the U.S. dollar.

* U.S. gold for June delivery was hardly changed at $1,558.00 an ounce.

* The CME Group, the world's largest commodities exchange, on Thursday cut margins for trading gold, crude oil, RBOB gasoline and lean hog contracts, effective after the close of business on Tuesday, May 29.


MARKET NEWS
* Asian shares inched higher on Friday, helped by a slight uptick in U.S. shares overnight that encouraged investors to return cautiously to buy up bargains after recent slides, but weak global data and Europe's fiscal woes limited the gains.


* The euro hovered near two-year lows against the dollar on Friday, weighed down by weak German manufacturing data which showed that no European state is immune from the ongoing debt crisis which saw the currency drop nearly two percent this week.

DATA/EVENTS (GMT)

1430 - U.S. ECRI weekly
1930 - U.S. CFTC commitment of traders data Weekly

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