Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Gain About 1%
By: Chris Mullen, Gold Seeker Report

Northern Vertex Files Preliminary Economic Assessment Report for the Moss Gold Mine in NW Arizona
By: Northern Vertex Mining Corp.

Does The CoT Structure Prohibit A Rally?
By: Craig Hemke

Harry Dent’s Gold Prediction Invalidated
By: Przemyslaw Radomski, CFA

SELLING OUT OF PRECIOUS METALS AND BUYING BITCOIN…. Very Bad Idea
By: Steve St. Angelo

The Bitcoin Bubble Explained in 4 Charts
By: Jake Weber

VXX Sends an Awesome Message from Another Galaxy
By: Rick Ackerman

Geopolitical Risk Highest “In Four Decades” – Gold Demand in Germany and Globally to Remain Robust
By: GoldCore

Asian Metals Market Update: November-22-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain With Stocks
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Putin Says Russia and China Must Secure Gold and FX Reserves


 -- Published: Wednesday, 28 May 2014 | Print  | Disqus 

Today’s AM fix was USD 1,265.25, EUR 928.83 and GBP 754.52 per ounce.
Yesterday’s AM fix was USD 1,283.00, EUR 940.48 and GBP 762.87 per ounce.

Gold fell 2% yesterday to $1,264.76/oz. Silver fell 1.8% to $19.06/oz.


Gold in U.S. Dollars, Daily, 1 Year - (Thomson Reuters)

Gold broke below support at $1,284/oz yesterday and quickly fell to nearly $1,265/oz. Overnight, gold in Singapore fell to nearly $1,260/oz prior to a slight bounce back to $1,266/oz.

Better than expected U.S. economic data and slightly lower official Chinese demand were cited as reasons for the move lower but it appeared more computer and technical driven as the price falls came before the U.S. economic data and Chinese demand figures were released.

Technically, gold is vulnerable to a further fall to the double bottom between $1,180/oz and $1,200/oz.

The 14-day relative-strength index fell to 32.9 yesterday, the lowest since December, and near the level of 30 that suggests a potential rebound to technical analysts. Gold has rebounded 5.2% this year even after yesterday’s 2% price fall and remains one of the best performing assets so far in 2014.

The price weakness came despite continuing bullish developments for the gold market. Yesterday came news of China launching a new physical Global Gold Exchange and President Putin of Russia again affirmed how Russia values its gold reserves.


Chinese President Jinping Raises Toast (In Vodka?) With Russian President Putin

Russia and China need to ensure their gold and currency reserves are secure, Russia's President Vladimir Putin told journalists at the St Petersburg International Economic Forum.

"For us (Russia and China) it is important to deposit those (gold and currency reserves) in a rational and secure way," he said. "And we together need to think of how to do that keeping in mind the uneasy situation in the global economy."

Putin also said China and Russia will consider further steps in order to use national currencies in bilateral transactions according to Reuters.

- www.GoldCore.com


| Digg This Article
 -- Published: Wednesday, 28 May 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.