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Gold price tumbles in market correction

Business | Precious metals and gems

SHANGHAI gold prices tumbled yesterday in a wide correction of the precious metal globally. Spot gold prices at the Shanghai Gold Exchange, the sole gold exchange in China, slumped 7 percent to 10,100 yuan (US$1,620)...

UBS says gold price will pass US$2,000

Business | Precious metals and gems

SWISS investment bank UBS yesterday again raised its forecast for short-term gold trading to a range of US$1,724 to US$2,200 an ounce due to economic woes and growing sovereign debt concerns. The bank's forecast...

Shanghai raises margin for gold forward contracts to 12%

Business | Precious metals and gems

THE Shanghai Gold Exchange, China's largest spot market for the precious metal, will increase margin by 1 percentage point, joining other bourses in an effort to curb volatility after prices gained to a record. ...

Gold Hits Record High

Business | Precious metals and gems

THE price of gold hit another record high, at US$1,829.70 per ounce yesterday, as investors sought a safe haven for their money. Gold prices have more than doubled since the winter of 2007, and are up about 19...

Demand for gold continues to increase

Business | Precious metals and gems

DEMAND for gold continued to increase in China and India over the second quarter of this year despite a global year-on-year 17 percent fall over the same period, the World Gold Council said yesterday. Although...

Gold price may hit US$2,500 an ounce

Business | Precious metals and gems

THE price of gold is expected to extend its decade-long bull run and hit as high as US$2,500 per ounce by the end of this year amid a worsening sovereign debt crisis in Europe and United States struggles with a massive...

New High For Gold Prices

Business | Precious metals and gems

GOLD prices pushed to new heights yesterday as investors digested the possible consequences of the lowered United States credit rating and Europe's debt crisis. Some investors view gold as a safer bet amid rising...

Investors lift gold price to all-time peak

Business | Precious metals and gems

SPOT gold jumped to an all-time peak in Shanghai yesterday as investors turned to safer assets on concerns about Europe's debt crisis and debt-ceiling talks in the United States. The price for immediate delivery...

Double fists

Business | Precious metals and gems

Gold rockets to all-time high

Business | Precious metals and gems

GOLD climbed to a record in London and New York as concern about Europe's debt crisis spurred demand for the metal as a protection of wealth. Bullion rose to an all-time high in British pounds. Ireland joined...

Bullion trading doubles as new buyers allowed

Business | Precious metals and gems

GOLD trading in Shanghai by foreign members of the precious-metals bourse surged more than twofold in the first half of this year after greater participation was permitted, the Shanghai Gold Exchange said yesterday. ...

Gold, a sparkling investment mantra

Business | Precious metals and gems

LIU Zhifei said he's never regretted investing in gold coins because he believes gold has a glittering future and there are good returns to be made, especially in limited-edition commemorative coins. "I went into...

Investors in silver warned of wild prices

Business | Precious metals and gems

INVESTORS of deferred trading in silver need to be alert to the wild price fluctuation of the metal, the Shanghai banking regulator warned yesterday. They need to consider their investment and strategy prudently...

Gold demand outgrows supply

Business | Precious metals and gems

GOLD output in China, the largest producer, may reach 400 tons in the next three years as demand continues to outgrow supply in the world's largest investment market for the metal. "China's gold industry is facing...

HK jeweler eyes IPO

Business | Precious metals and gems

HONG Kong billionaire Cheng Yu-tung's Chow Tai Fook Group hired Goldman Sachs Group Inc, HSBC Holdings Plc and JPMorgan Chase & Co for an initial public offering of its jewelry retail unit that may raise as much as...

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