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. "

View the original article here

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.

> Contact us via email.

Follow @JoeDeaux! function (d, s, id) {var js, fjs = (d) .getElementsByTagName (s) [0]; if (! d. getElementById (id)) {js = d. createElement (s); js. id = id; js. src = "//platform.twitter.com/widgets.js"; fjs.parentNode.insertBefore (js, fjs);}}(document, "script", "twitter-wjs");

TRY FOR FREE

Jim Cramer and Stephanie link to actively manage the actual portfolio and to reveal the tactics, money management, giving advanced in advance of every trade.

2.5 + million dollars in portfolioLarge-focusIntraday trade, cap and dividend announcements to CramerWeekly roundupsTRY it's free

Jim Cramer protégé, David Peltier to identify the best breed of dividend stocks, which pay reliable and significant revenue stream.

A versatile model for portfolio of dividend stocksAlerts after market news will affect the portfolioBi weekly updates on the exact steps to take-to buy, hold, SELLTRY it for Free

David Peltier reveals the low dollar stocks with exceptional upside potential that fly under the radar of Wall Street.

The model portfolioStocks is trading for less than $ 10Intraday trade alertsWeekly roundupsTRY it's free

24/7 market comment on Jim Cramer, and 20 + veteran Wall Street Gurus. You get access to the latest trading ideas for stocks, options, and ETFS such as real-time forum to see good change of investment ideas.

Jim Cramer + 20 Wall Street prosIntraday comment & forumActionable ideasTRY newsReal time for trading to trade it for free

All real money, as well as 15 more Wall Street the sharpest minds of actionable trading ideas, a comprehensive overview of the market and fundamental and technical analysis.

Money, Doug Kass + 15 more a comment on the Wall Street ProsIntraday & newsUltra practical trading ideasTRY it's free

Options trading professionals provide a daily market commentary and more than 100 monthly option trading ideas and strategies to help you become a mature trader.

100 + monthly options trading ideasActionable options trading communityOptions & newsReal-time commentary on TV

View the original article here