Monday, May 13, 2013


Gold ends lower for 3rd session in row

CHICAGO,- Gold futures on the COMEX division of the New York Mercantile Exchange finished lower on Monday, extending their decline to a third session on strength in the U.S. dollar and concerns that the U.S. Federal Reserve may soon scale back its bond-buying program.

The most active gold contract for June delivery fell 2.3 dollars, or 0.16 percent, to settle at 1,434.3 dollars per ounce. Gold futures prices have tallied a loss of 2.7 percent in three sessions. This week, the biggest focus for the gold market will be the dollar, according to market analysts.

In addition, investors considered the possible curtailing of monetary-policy stimulus by the Fed. The central bank's easy monetary policy tends to raise the risk of inflation, as well as putting pressure on the dollar. Gold is seen as a hedge against inflation and as a dollar-denominated commodity, and can benefit from a weaker dollar.

The Fed has reportedly mapped out a plan for winding down its program of buying 85 billion dollars in bonds each month. Officials were trying to clarify the strategy so the markets don't overreact to their next moves, said reports.

The dollar index edged up to 83.253, from Friday's 83.135 level. Meanwhile, declines in holdings in gold-backed exchange-traded funds remained a concern in the market. Gold holdings in the SPDR Gold Trust fell about 11 metric tons to 1,051.65 metric tons as of Friday from a week earlier.

Silver for July delivery rose 3.8 cents, or 0.16 percent, to close at 23.696 dollars per ounce.

Tags : , ,



The idea behind the text.
Respect for the truth is almost the basis of all morality.
Nothing can come from nothing.

Popular Topics


Well, the way they make shows is, they make one show. That show's called a pilot. Then they show that show to the people who make shows, and on the strength of that one show they decide if they're going to make more shows.

Like you, I used to think the world was this great place where everybody lived by the same standards I did, then some kid with a nail showed me I was living in his world, a world where chaos rules not order, a world where righteousness is not rewarded. That's Cesar's world, and if you're not willing to play by his rules, then you're gonna have to pay the price.

You think water moves fast? You should see ice. It moves like it has a mind. Like it knows it killed the world once and got a taste for murder. After the avalanche, it took us a week to climb out. Now, I don't know exactly when we turned on each other, but I know that seven of us survived the slide... and only five made it out. Now we took an oath, that I'm breaking now. We said we'd say it was the snow that killed the other two, but it wasn't. Nature is lethal but it doesn't hold a candle to man.

You see? It's curious. Ted did figure it out - time travel. And when we get back, we gonna tell everyone. How it's possible, how it's done, what the dangers are. But then why fifty years in the future when the spacecraft encounters a black hole does the computer call it an 'unknown entry event'? Why don't they know? If they don't know, that means we never told anyone. And if we never told anyone it means we never made it back. Hence we die down here. Just as a matter of deductive logic.