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Gold Silver May show more Dips 26 April

Gold Silver May show more Dips 26 April

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Published by Rehana Kapoor
Spot gold added USD 4.06 an ounce to USD 1,471.05 by 0025 GMT after posting its biggest daily rise since June last year on Thursday. Gold plunged to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.
Spot gold added USD 4.06 an ounce to USD 1,471.05 by 0025 GMT after posting its biggest daily rise since June last year on Thursday. Gold plunged to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.

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Published by: Rehana Kapoor on Apr 26, 2013
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04/26/2013

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MARKET WRAP
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Spotgoldadded USD 4.06 an ounce toUSD 1,471.05 by 0025 GMT afterposting its biggest daily rise since Junelast year on Thursday. Gold plunged toaround USD 1,321 on April 16, thelowest in more than two years, in asell-off that surprised ardent goldinvestors and bulls.US gold futures for June delivery stoodat USD 1,471.00 an ounce, up USD9.00.SPDR Gold Trust, the world's largestgold-backed exchange-traded fund,said its holdings fell 0.25 percent to1,090.27 tonnes on Thursday from1,092.98 tonnes on Wednesday. Thecurrent holdings are at their
 
multi-year lows.The dollar recovered from losses totrade higher against the euro onThursday as resilience in the US labormarket allayed some concerns aboutthe nation's economic recovery, withmany analysts expecting more gainsahead for the greenback. 
MARKET NEWS
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The recent incremarks a departupricing environpersisted overyears.As advances in dallowed energymassive quantitfrom shale fieldsteadily built upseverely depresfuel.In response, virtU.S. energy prodrilling in favorto a lesser degreliquids.Japan’s Nikkei average advanced inearly trade on Friday after strong UScompany earnings and resilientlabour market data boosted WallStreet, although the benchmark washolding just below the 14,000-mark,a level not seen since June 2008.Premiums forgoldbars soared tomulti-year highs in Asia after a spateof physical buying ran down
 
supplies, with dealers in topconsumer India
 
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surge inimports this month.This massive gap in global prices haslured a number of companiesincluding petrochemical, steel, andfertilizer manufacturers back to theU.S., in hopes of capitalizing oncheap domestic energy. As theseand other sources of demand grow,they will soon outpace supply andlead to a surge in prices, accordingto Grantham. 
 
ase in gas pricesre from the weakent that hasuch of the past fewrilling technologiesproducers to coaxes of natural gas, an oversupply, contributing toed prices for theually every majorucer curtailed gasf producing oil and,e, natural gas

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