Really? u got test the gold purity?

24 carat gold means 999 i.e. 99.99% purity.
23 carat gold means 995 i.e. 99.50% purity.

Gold up but set for second weekly drop on interest rate speculation

Gold steadied above a two-month low on Friday after a five-day losing streak and was headed for its biggest weekly loss in five, hurt by strong U.S. economic data and speculation that the Federal Reserve could hike interest rates sooner than expected.

"Yellen's Jackson Hole is going to be a dominating story as it comes at a sensitive time for Fed communication given that the minutes had a slightly more hawkish tinge," Macquarie analyst Matt Turner said.

"However, Jackson Hole speeches are not the most obvious place to communicate a change in policy so we shouldn't expect it to be a major event."

Physical markets failed to provide any significant support for gold as demand in major consumers China and India remains weak.

"Lower gold prices are coming at an opportune time for the Indian market which is on the cusp of its seasonally busy period," UBS said in a note.

Gold hits 2-month low

Gold edged down today, hovering near its lowest in two months on a firmer US dollar and speculation of an eventual increase in American interest rates that could hurt the metal's appeal as a hedge against inflation.

"Sentiment wise, I would call it negative. Every time it can't hold above US$1,300, there's some disappointment," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.

"Yellen was talking about a chance for interest rates to rise early. All these factors seem to be negative for gold for the time being. The only positive thing is that we saw some kind of demand at this level," Leung said.

Premiums for gold bars in Hong Kong stood at 70 cents to US$1.10 to the spot London prices, higher than 50 to US$1 quoted late last week because of purchases from jewellers.

Gold Climbs Most in Almost Three Weeks as Decline Spurs Buying
http://www.bloomberg.com/news/2014-08-26/g...rts-demand.html

Gold up as dollar rally pauses; strong U.S. data limits gains
http://in.reuters.com/article/2014/08/26/m...N0QW2HY20140826

Gold rises on Ukraine ‘war premium’
http://www.marketwatch.com/story/gold-rise...mium-2014-09-01

Gold falls nearly 1 pct as equities, dollar firm
http://in.reuters.com/article/2014/09/02/m...N0R32JO20140902

Gold remains near 11-week low amid optimism over U.S. economy
http://www.investing.com/news/commodities-...-economy-307212

Gold rises as U.S. payrolls data misses forecasts
http://www.reuters.com/article/2014/09/05/...N0R62ZB20140905

Survey Participants Split Over Gold Price Direction For Next Week
http://www.forbes.com/sites/kitconews/2014...-for-next-week/

Gold - $1275 Level Now Providing Resistance

After running into resistance at $1290 for several days, gold has fallen sharply over the last week and in doing so has broken through the support at $1275. It tried to rally higher last week however it ran into further resistance at $1275 before falling lower to a four month low around $1258.

A couple of weeks ago gold was enjoying a resurgence as it moved strongly higher off the support level at $1275, however it then ran into resistance at $1290. In the week prior, gold had been falling lower back towards the medium term support level at $1290 however to finish out last week it fell sharply down to the previous key level at $1275.

Gold eases towards 3-month low as dollar holds near highs
http://in.reuters.com/article/2014/09/10/m...N0RB2UJ20140910

Gold Declines Toward Three-Month Low on U.S. Outlook
http://www.businessweek.com/news/2014-09-1...s-tensions-ease

Gold falls to 7-1/2 month low as dollar weighs
http://www.dailymail.co.uk/wires/reuters/a...ares-weigh.html

where?

Gold Bullion at 8-Month Low on "Weak" Demand as China "Gains Pricing Power" with New Contracts & Trading Exchange

Earlier touching 3-week and 1-month lows respectively, the bounce for gold bullion priced in Euros or Sterling was more muted, as the Dollar weakened following a surprise jump in weekly US jobless claims data.

"We have had disappointing growth data and the Dollar is very strong," Bloomberg quotes Barclays' analyst Kevin Norrish.

"Growth now looks a bit less promising and supplies in many commodities are quite robust.”

Gold bullion's "traditional monthly strength" in September is clearly missing, says a note from analysts at Deutsche Bank, disappointing bullish traders thanks to "generalised weak demand...

"We have been warning about the risk of a further decline to 1204.00 some time," Deutsche's team says.

"However, interim support from near-term buyers is now likely to be found [around] 1241.00."

The all-in cost of sustainable gold mining – taken by many analysts as a long-term floor for market prices – fell in the second quarter of 2014 to average $960 per ounce across the major producers, says a note from French investment and bullion bank Natixis.

"At the same time," it adds, "the largest "Western producers have been able to maintain the same level of production."

The odds are stacked against gold

Gold prices dipped to an eight-month low last week as a bout of panic selling hit the market. Prices touched $1,227/ounce and finally closed at $1,229.7, down 3 per cent. With the Fed’s interest rate hikes expected early next year, investors are moving out of low yielding physical assets.

The possibility of early rate hikes by the Fed and the strengthening dollar are pushing gold down. However, the imposition of fresh sanctions by the US and the EU on Russia has made the situation uncertain again. The outlook for gold, however, is seriously negative, given that consumer price inflation globally is set to drop with the US now all set to wind up its stimulus programme and crude oil prices already on a south-bound journey.

This coming week will be action-packed with key data releases in the US.

A close below the support of $1,240 is a bearish signal for international gold. This week, gold prices may well target $1,200. If this is broken, then it can go to the lows seen in 2013. There is a descending triangle pattern forming in the chart from the high of $1,423 with the neckline at around $1,180/$1,190.

In the coming weeks, if this support is broken, gold may fall steeper.

Gold rebounds on weak shares, still near 8-month low as Fed in focus
http://in.reuters.com/article/2014/09/15/m...N0RG2GW20140915


Continue at Gold Investment Corner V8

This post has been edited by davinz18: Sep 16 2014, 12:14 AM