Recent Bullion News

NZD/USD recovers from recent downtrend on Fed statement

The New Zealand dollar rose against its U.S. counterpart on Thursday, pulling away from almost two-month lows reached after recent comments by the Reserve Bank of New Zealand as the Federal Reserve's policy statement dented demand for the greenback.

Gold Lower, Hits 5-Week Low; Pressured by Rallying U.S. Dollar, Better U.S. Economic Data

Gold prices ended the U.S. day session lower, hit a five-week low and closed at a technically bearish monthly low close Thursday. Some upbeat U.S. economic data released Thursday and the recently rallying U.S. dollar index that hit a six-month high this week were bearish weights on the gold and silver markets. August Comex gold was last down $12.70 at $1,282.20 an ounce. Spot gold was last quoted down $13.10 at $1,281.75. December Comex silver last traded down $0.189 at $20.47 an ounce.

Bullion Price Movement

Spot Prices as of close of trading in New York

Thursday, July 31, 2014

 

 

Geopolitical Risk Rises for Global Investors

Since the start of the year, conflicts in Syria, Gaza and Iraq have escalated, China has become more assertive in pursuing territorial claims against Japan, Thailand reverted to military rule, Russia annexed Crimea and separatists in Ukraine downed a civilian airliner.

London Gold Fixing Set for New Administrator by Year-End

The banks that conduct the century-old gold fixing and the London Bullion Market Association will seek proposals next month for a new administrator to run a revamped process for the benchmark by year-end.