Precious Metal News : 26/5/2014

Precious Metal
26/5/2014

Copper in Shanghai climbed for a third day to a 11-week high as stockpiles tracked by exchanges in London, Shanghai and New York slumped. Aluminum rose to the highest in four weeks.
Gold held below $1,300 an ounce as investors weighed the outlook for U.S. monetary stimulus against unrest in Ukraine. Assets in exchange-traded funds backed by platinum and palladium climbed to records.
Bullion for immediate delivery traded at $1,293 an ounce at 1:50 p.m. in Singapore from $1,292.61 on May 23, according to Bloomberg generic pricing. The metal decreased 0.1 percent on May 23 after data showed sales of new homes in the U.S. increased the most since October. The U.S. and U.K. markets are shut for holidays today.
Platinum rose 0.4 percent to $1,478.76 an ounce after climbing to $1,496.38 on May 22, the highest level since September. Palladium was little changed at $830.59 an ounce after reaching $839 on May 22, the highest since August 2011. On May 23, assets in platinum-backed ETPs expanded to 85.62 tons and those in palladium-backed ETPs increased to 86.93 tons.

Precious Metal News : 19.05.2014

Precious Metal

19/5/2014 10:00 am

Gold held below $1,300 an ounce as investors assessed the health of the U.S. economy and the impact on monetary stimulus against tension in Ukraine.

Bullion for immediate delivery traded at $1,294.06 an ounce at 9:42 a.m. in Singapore from $1,293.52 on May 16, according to Bloomberg generic pricing. Last week, the metal completed the first weekly gain in three as separatists fought government forces in Ukraine.

Silver for immediate delivery fell 0.3 percent to $19.323 an ounce. Platinum was at $1,463.25 an ounce from $1,464.94, after climbing to $1,486 on May 14, the highest price since March 7. Palladium traded at $815.35 an ounce from $815.44, after reaching $829.25 on May 14, the highest level since August 2011.

Gold shipments to Southeast Asia’s biggest consumer are forecast to contract by as much as half this year, a sign the unprecedented Asian demand that helped stem last year’s rout in prices is weakening.

Precious Metal News : K.KARTHIK RAJA

Precious Metal

Gold rose toward a three-week high as investors weighed tension in Ukraine against signs of an improving U.S. economy. Palladium was near the highest level since August 2011.

Bullion for immediate delivery gained as much as 0.4 percent to $1,312.67 an ounce, and traded at $1,312.59 at 9:55 a.m. in Singapore, according to Bloomberg generic pricing. Gold climbed to $1,315.68 on May 5, the highest price since April 15.

Palladium for immediate delivery fell 0.2 percent to $817.16 an ounce after reaching $820.90 yesterday on concern that supplies from Russia, the biggest producer, may be disrupted as the U.S. threatened sanctions.

Platinum was at $1,454.69 an ounce from $1,454.75. Impala Platinum Holdings Ltd., the second-largest producer, said it would cut deliveries by as much as 60 percent in three to four months should a 14-week-old pay strike continue to cripple South African mines.