The price of gold for the Fed, the ECB to bump (update 1)

The price of gold jumped on Thursday after the European Central Bank lowered interest rates and the Federal Reserve reiterated its monetary policy stimulus. COMEX gold for June delivery rose $ 1, to $ 467.60 21.40 an ounce. The price of gold traded up $ 1, at $ 1 per ounce and only 448.10 473.30, even though the spot price was adding $ 9.80, Kitco Gold index. The ECB's benchmark rate 25 basis points to 0.5%-a record low-0.75%, which was the baseline rate from July.

The Fed on Wednesday said the latest decision, reasoning that the Central Bank is ready to increase or reduce monetary stimulus, if necessary. Notice of decision to the central banks of the scaling back of the current transition among procurement programs. "All the funds flowing into the world economy, it also has to worry about inflation, augers, underlying bullish factor, without jeopardizing the raw materials, including precious metals," Jim Wyckoff, a senior metals analyst at Kitco.com, said in an interview.

Silver prices for July delivery increased 49 cents to $ 23.95 per ounce, while the US dollar index 0.72% to $ 83.15 was popping up after the ECB's announcement of the weakened dollar. "The economy was moving ahead strongly, if jobs increased, the unemployment rate fell, and production increased, if discussion of the [Federal Open Market Committee] meeting, would have been about how soon we'll reverse quantitative easing and maybe even thinking about how quickly the federal funds rate would be moving up," Benjamin Friedman, an economist at Harvard University told TheStreet.

Gold is still searching for the company's trading range after its more than 13% of the selloff in two consecutive trading sessions in the middle of April. The yellow metal has retraced about half of these losses, largely due to the support of the retail demand. "Despite the continued fall in the amount of gold held by the physically backed ETPS in the retail demand has helped the gold price to rise about 1.8 percent this week to $ 1,457 per ounce," Natixis wrote in the study into account on Thursday.

Gold mining stocks were mixed on Thursday. Shares in Gold Fields (GFI) lost 2.6%, while shares of Yamana Gold (AUY) increased by 3.1%. The number of Directors, Barrick Gold (ABX) climbed 2%. Gold ETF SPDR Gold Trust (GLD) was 0.62 percent higher at $ 141.98 ticking, even if the iShares SPDR Gold Trust (IAU) increased by 0.61% to $ 16.35.

By Joe Deaux In New York City.

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The physical demand for gold rises of instability in Syria (update 1)

Gold prices gained Monday on concerns about the physical demand of Syria and a bump in Asian stocks rebounded. Gold for June delivery rose $ 3.80 the COMEX Division of the CME $ 1,468 per ounce. The price of gold traded up $ 1, at $ 1 per ounce and only 463.80 478.40, even though the spot price was slipping 80 cents, the Kitco Gold index. Reports was born late last week, Israel had launched the airstrike was aimed at a suspected weapons to Syria and the site. Israeli jets reportedly launched a new attack on Sunday, targeting the Jamraya Research Centre, which is a secret scientific research center near the capital in Damascus, Syria.

Gold received a very important Syrian news, but the growing uncertainty about the stability of the region supported by enough buyers of precious metal hedge. The physical demand was also supporting gold on Monday as Asian stock markets rebounded, said Phil Streible, a senior commodity broker is a RJO futures. "People are for the liquidation of these ETFs, and they use the money to buy the physical" Streible said on the floor of the Chicago Mercantile Exchange. "You see a real disconnect, I mean the physical prices are strong, and people are looking for the toughness of their money."

Silver prices for July delivery slid 6 cents to $ 23.58, while the US dollar index increased by 0.26% to $ 82.31. Over the weekend, the legendary Investor Warren Buffett, CEO of Berkshire Hathaway (BRK.)(B)), said that investment in gold is not liking him. "It has never interested me. If you go back to 1965, Berkshire was $ 15 and the gold was $ 35, so I could have you bought two shares of Berkshire shares, a little more than two ounces of gold, "Buffett said in his annual shareholder meeting. "And so far two shares of Berkshire is better." Buffett's comments on gold become a little surprise for gold investors, who have been aware of the Oracle of Omaha ' disregard for the yellow metal.

"It is the change in asset," said Streible. "Now the silver on the other hand, Warren Buffett has been known to keep silver to certain degrees. I think that if silver prices the way a bit smaller is something that interested him, or Platinum or copper, but otherwise the gold except for the transaction, and Warren Buffett. "

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Gold Prices Slip as Merkel Speaks (Update 1)

Gold prices fell on Friday after German Chancellor Angela Merkel suggested that the European Central Bank may need to raise interest rates for Germany as it would have to provide greater liquidity for struggling eurozone members. COMEX Gold for June delivery dipped $8.40 to $1,453.60 an ounce. The gold price traded as high as $1,484.80 and as low as $1,447.3 an ounce, while the spot price was down 8.70, according to Kitco's gold index.

"Heavy selling around 12 p.m. ET caused sharp reversal in gold and silver after some Euro Zone remarks from [Merkel] about interest rates in Germany," George Gero, precious metals strategist at RBC Capital Markets, said in an afternoon note. Merkel's comments came days after reports emerged that the ECB was considering reducing interest rates in its next policy-making meeting. German savers and banks -- one of the strongest financial sectors in Europe -- continue to suffer from the environment of low rates that the central bank has put into place to offset the negative effects of the recession that has plagued the continent for years.

Silver prices for May delivery were sliding 38 cents to $23.76 an ounce, while the U.S. dollar index was sliding 0.31% to $82.51. The yellow metal has retraced half of the losses it suffered after a two-day collapse that witnessed prices fall more than $200, or about 13%. Despite the reversal this week, many traders and analysts are still skeptical that gold has shaken the bearish momentum. "With gold's fall gaining mass headline exposure and attracting short sellers, a bounce was necessary before the next 'unexpected' drop," Yoni Jacobs, chief investment strategist at Chart Prophet, wrote in an email. "I expect the retracement to struggle as it approaches the $1500 to 1550 level, which is now resistance, and at the maximum $1650 to 1700, which is unlikely."

Jacobs said that he believes the September 2011 high in gold prices is probably locked in. Shares of gold miner Barrick Gold (ABX) were losing 2.4%. Gold ETF SPDR Gold Trust (GLD) was losing 0.45%, and iShares Gold Trust (IAU) was off 0.46%.

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Gold Posts Biggest Gain in 2013 (Update 2)

Gold prices posted on Monday the biggest gain of 2013 as speculation of an impending rate cut by the European Central Bank added upward momentum to the yellow metal. Gold jumped 1.1% on Wednesday. Gold for June delivery at the COMEX division of the CME surged 38.30 to $1,462 an ounce. The gold price traded as high as $1,463.40 and as low as $1,426.30 an ounce. Gold has retraced about half of its losses since the two-day collapse on April 12 and April 15.

 "Rate cut speculation ahead of next week's ECB meeting and the prospect of continued ultra loose US monetary policy following more weak economic figures in the eurozone and the US are lending buoyancy to the gold price," Commerzbank AG wrote in a research note. Silver prices for May delivery closed up $1.31 at $24.14 an ounce, while the U.S. dollar index was sliding 0.25% to $82.73.

The Labor Department said Thursday weekly jobless claims fell 16,000 to 339,000 for the week ended April 20. Economists polled by Thomson Reuters were expecting claims to come in at 351,000. The four-week moving average dipped to 357,500 from 362,000 a week ago. Gold investors continue to monitor the health of the labor market as the Federal Reserve has tied its policy to maintain a historically low federal funds rate to the unemployment rate. The Fed has reiterated that it would keep rates low at least until the unemployment rate ticks down to 6.5% or if inflation picks up too quickly.

Soft overall U.S. economic data -- the housing sector, the labor market, manufacturing -- also has helped drive gold since its historic two-day collapse on April 12 and 19. Investors expect to receive their first glance at the health of the U.S. economy in 2013 as the Bureau of Economic Analysis on Friday will report first-quarter gross domestic product. Gold mining stocks were mostly higher on Thursday. Shares of Gold Fields (GFI) were up 6.3%, and shares of Royal Gold (RGLD) were climbing 5.6%. Among volume leaders, Barrick Gold (ABX) was adding 3.1%. Gold ETF SPDR Gold Trust (GLD) was surging 2.6%, and iShares Gold Trust (IAU) was jumping 2.5%.

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The price of gold is sinking profit-taking (update 1)

Gold prices fell Tuesday on profit-taking as traders preferred to their position and moving into equities, who had broke the all-time highs. Gold for June delivery fell $ 12.70 to settle by the COMEX Division of the CME at 1, $ 448.80 per ounce. The price of gold traded up $ 1,470, and only $ 1, 440.40 per ounce, spot price was $ 19, with the collapse of the Kitco Gold index. "One could say that, at the moment, there is a risk of mood," Daniel Briesemann, commodities analyst at Commerzbank AG, said in a phone call from Frankfurt. "It is a bit odd, but it may be that we'll see some profit-taking after moving over one hundred low, then a couple of weeks."

The Dow Jones Industrial Average rose early on Tuesday morning and the S P 500 & followed the Dow's gains, posting a 0.48% climb. Silver prices for July delivery slipped 15 cents to $ 18.33 per ounce in the near, when the u.s. dollar index was sinking 0.06 $ 80.41. Helping to drive the dollar lower grew stronger than expected German factory orders on Tuesday. Orders grew by 2.2% in March in February. It is equivalent to the win in February against the 2.2% in January. The stronger economic data from Germany could be lending to the downside pressure on the Gold market as a hedge against economic uncertainty factors slightly decreased the yellow metal to the complaint.

BullionVault, a company that offers online to buy and sell physical gold and silver, was released on Tuesday, the Gold investor index, which jumped to 53.3 58.6 in April before a month of reading after the massive sell-off paper market encouraged physical demand. Treatment of 50 signals the balance of buyers and sellers in the market. April marked a 16-month high 9.9% pop index. Miguel Perez-Santalla, vice president of BullionVault is in New York, said the surge was driven by retail investors ' demand. Perez-Santalla said he does not believe that the investors buying the yellow metal inflaatiolta-traditional investment appeal of gold.

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Gold rises, traders cover shorts (update 2)

Gold rallied on Wednesday as traders with short positions amid concerns the Syrian civil war could extend through the Middle East and as the dollar weakened. Gold for June delivery is a division of the CME rose $ 1 on COMEX 473.70 $ 24.90 an ounce. The price of gold traded up $ 1, only $ 1 per ounce of 475.80 446.70 and, even though the spot price was charging the higher $ 21.60, Kitco Gold index.

"This is just a retracement of what happened yesterday," said David Williams, Vice President of strategic Gold Corp. Silver prices for July delivery was slipping 5 cents to $ 27.43 per ounce, while the US dollar index falls to 0.43% to $ 33.17. "Also suggests that traders are very cautious of aggressive positions," Peter hug, head of global trading at Kitco Metals, wrote in a note. "The general consensus on the major desks, is still bearish on the side (in the short term), but physical and involving them in the Middle East and, in General, the weaker US dollar overnight contributed to the short covering."

China is still a great buy physical gold from Hong Kong. The country imports about 223.519 tons in March, which jumped from about 97.106 tonnes in February. The data supported the other reports that the physical demand has propped up the yellow metal paper market prices, but a strategic Gold Corp. Williams said news that China buying gold for Hong Kong is not likely to be a lot of driving their prices on Wednesday because the purchase has already been done.

Because gold debacle last month, there is a clear disconnect between the paper market, which is still off about $ 90 in its April 11 COMEX trading price and the physical market, which has been in high demand in China, India, retail buyers and central banks, according to the author, Nick Barisheff "$ 10,000 in gold." Sources familiar with the matter, the Bloomberg report, Mark said the billionaire John Paulson's Gold Fund lost 27 percent in April, largely contributed to the collapse of the precious metal for two days for that month.

Gold mining stocks closed mainly higher on Wednesday. Shares of Barrick Gold (ABX) rose by 8.5%, while shares of Eldorado Gold (EGO) is finished up 6.4 percent.

The number of Directors of Kinross Gold (KGC) increased by 6.1%.

Gold ETF SPDR Gold Trust (GLD) got 1.5% $ 142.45, although the iShares SPDR Gold Trust (IAU) add 1.5% to $ 31.20 min.

SPDR Gold Trust ETF funds is still in the dough, it has lost about 12.5% this year. Gold Futures have been 3.1% Premium to the massive gold ETFs.

"We find that the difference between the discount due to the timing of when the NAV and the Fund's price falls," the economic research firm CreditSights, said in a note.

--Written By Joe Deaux In New York City.

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Gold Surges as Short Covering Grows (Update 2)

Gold prices surged on Monday after the yellow metal gapped up above $1,400 an ounce on a significant amount of short covering by traders. Gold for June delivery at the COMEX division of the CME popped $25.60, or 1.8%, to settle at $1,421.20 an ounce. The gold price traded as high as $1,438.80 and as low as $1,403.50 an ounce, while the spot price was jumping $20.50, according to Kitco's gold index.

"So we're seeing a significant amount of short covering going on, we've broken through some key psychological levels back to the upside at $1,400 to $1,408, $1,422," Phil Streible, senior commodities broker at RJO Futures, said in an interview. Streible said the short covering also was in line with physical buying, which he said jumped over the weekend. The move higher comes a week after gold saw its worst dollar loss ever, and a historic two-day collapse that left investors in the space uncertain if prices would find technical support any time soon.

Silver prices for May delivery rose 36 cents to close at $23.32 an ounce, while the U.S. dollar index was slipping 0.05% to $82.71. While paper markets incurred deep losses at the beginning of last week, a number of gold analysts were saying physical demand for the yellow metal remained strong. "Right now the sales for April [gold bullion coins] are about 153,000 ounces, which makes it the third-highest amount ever in a month for the United States Mint," Ed Moy, chief strategist for Morgan Gold and former director of the U.S. Mint, said on April 19.

Investors remain uncertain as to whether recent small gains in prices are signaling a sustained rally. The April 12 and April 15 sell-off led many veteran traders and analysts in the space to argue it could take weeks or months for gold to find solid technical support. As for Monday's trade, it simply could be more consolidation since the drop. "I think it's a matter of consolidation," Streible said. "But I think we consolidate right here, we hold above that $1,408-$1,400 level and I think you start looking at higher prices going forward." Streible said investors may want to look at more conservative positions.

Gold mining stocks were mixed on Monday. Shares of Barrick Gold (ABX) were shedding 0.55%, while shares of Eldorado Gold (EGO) were gaining 4.8%. Among volume leaders, Kinross Gold (KGC) was up 3.9%. Gold ETF SPDR Gold Trust (GLD) was popping 1.9% to $138 a share, while iShares Gold Trust (IAU) was up 1.9% to $13.87.

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Gold Finds Groove on Weak Durable Goods (Update 1)

Gold prices popped Monday after durable-goods orders suggested that the U.S. manufacturing sector was softening. Gold for June delivery at the COMEX division of the CME jumped $14.90 to $1,423.70 an ounce. The gold price traded as high as $1,433.60 and as low as $1,411.50 an ounce, while the spot price was adding $17.60, according to Kitco's gold index.

"If we see signs of a weaker economy it tends to be positive for gold, because it changes expectations for monetary policy," said Jeffrey Nichols, senior economic adviser at Rosland Capital. "So today's durable goods orders being a big disappointment has some... thinking that the [Federal Reserve] isn't going to tighten sooner."

The Census Bureau reported Wednesday that durable-goods orders dropped 5.7% in March after they had risen 4.3% the prior month. Economists surveyed by Thomson Reuters were expecting orders to decline 2.8%.

Last month's Fed policy-making meeting revealed a growing number of members were considering scaling back the central bank's current monetary stimulus programs, but a weak March jobs report, softer housing data and vacillating manufacturing indicators likely have forced central bankers to reconsider their hope to curb quantitative easing.

"Durable goods is a volatile report," Robert Brusca, chief economist of Fact & Opinion Economics, wrote in a note. "However, over three months only 14% of the durable goods sectors representing 27% of sales show shipments that are accelerating."

Silver for May delivery rose 2 cents to $22.83 an ounce, while the U.S. dollar index was dipping 0.08% to $82.95.

Silver prices suffered in 2012 from a setback in global economic growth as industrial demand softened, according to the Silver Institute's 2013 world silver survey that came out Wednesday.

The survey found that silver's industrial fabrication dropped to 465.9 million ounces from 487.8 million ounces in 2011, and that overall silver fabrication demand dropped to 846.8 million ounces in 2012 from 907.1 million ounces a year earlier.

While silver has seen about a 13% drop since April 12, when gold started its two-session collapse, some believe silver could be poised for a recovery in the second half of this year.

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SGI Traders Gold Update With Spencer Kelly At Strategic Global Investments In Chicago

There was some major movement last week in gold prices based upon a combination of news from Draghi at the ECB about what could prove to be an almost unlimited bond buying program designed to preserve the euro along with expected stimulus plans from the fed.

There is widespread thought amongst commodity traders that the yellow metal is poised for more positive activity in the coming weeks after closing out a third consecutive week of gains.

Spencer Kelly, MD of Trading at Strategic Global Investments in Chicago believes that the sky is the limit - "It's clear to me that the Fed simply have to announce another stimulus plan and this will drive gold prices higher not to mention lowering the value of the U.S. dollar."

He goes on to say "Wednesday and Thursday of this week will see another meeting of the Federal Open Market Committee and it is highly likely that Ben Bernanke will announce more quantitative easing especially in light of the August jobs report which was lower than expected. This could drive gold prices past $1800 and that means there are still big profits to be made."

Spencer Kelly has been trading commodity options  for over two decades and is well known for both his succesful trading record and his writing on trading commodity options for profit.

Strategic Global Investments is at the forefront of commodity and forex trading and provides trading services and advice to clients in over 70 countries from our head office in Chicago. Our offshore division is based in San Jose, Costa Rica. Visit http://www.sgitraders.com/ for more information or to open a trading account.

Disclosure: Both Spencer Kelly and Strategic Global Investments are long on various Gold options.

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