gold news

China's ICBC wants to be major bullion market maker
Mineweb
Industrial and Commercial Bank of China Ltd is seeking membership of overseas exchanges and aims to become a major global bullion market maker, a senior executive said on Monday. The world's biggest bank by market value, ICBC is the top player by ...

BULLION MORNING - Gold edges higher after Greek euro exit fears subside
FXstreet.com
London 28/05/2012 - Gold edged higher in Monday morning trading, reflecting a stronger euro that took heart from opinion polls in Greece showing voters have swung towards parties that favour keeping the country in the eurozone.

China's ICBC has big dreams for bullion business
Reuters Africa
By Fayen Wong SHANGHAI May 28 (Reuters) - Industrial and Commercial Bank of China Ltd is seeking membership of overseas exchanges and aims to become a major global bullion market maker, a senior executive said on Monday. The world's biggest bank by ...

Gold, silver move up on higher global cue
Zee News
New Delhi: Both the precious metals, gold and silver rose on the bullion market Monday on fresh buying by stockists and investors, tracking a firming trend in global markets. While gold inched up by Rs 15 to Rs 29565 per 10 gm, silver rose by Rs 200 to ...

Zee News


Japanese Pension Fund Buys Gold, Commodity Report by Top Financial Newsletter ...
PR Web (press release)
A Japanese pension fund, Okayama Metal & Machinery, is going to place 1.5% of its total assets ($500 million) in gold bullion-backed exchange-traded funds (ETFs). According to Michael Lombardi, lead contributor to Profit Confidential, this is the first ...

PR Web (press release)


Gold inches up on weaker dollar; Spain worry weighs
Economic Times
Bullion has fallen more than 5 per cent so far this month, on course for its biggest monthly decline since December, as fear of Greece's exit from the euro zone as well as Spain's crisis sank the euro and boosted the dollar index to a 20-month high, ...

Gold Set for Worst Run Since 1999 as Dollar Strengthens
Bloomberg
Bullion is 5.5 percent lower this month, the biggest drop since December and the fourth straight monthly decline. The dollar has gained 4.5 percent against a six-currency basket including the euro in May. Economists from Bank of America Merrill Lynch ...

Bloomberg


India Gold Imports to Slump in May
Wall Street Journal (India)
Based on trends so far, May imports are seen at around 40-50 metric tons, against 102 tons last May, said Prithviraj Kothari, president of the Bombay Bullion Association. India imports nearly all of the gold it sells in the domestic market.

Gold is becoming a core banking asset
Stockhouse
If the Basel Committee agrees to banks using gold as Tier 1 Capital it would create substantial demand for physical bullion. Institutional investors tend to prefer investments that are thought to contain the potential for growth, growth = sprouts.