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MCX Sees Record Turnover, Volumes in Gold Options
Gold Silver Reports (GSR) – MCX Sees Record Turnover, Volumes in Gold Options — Multi Commodity Exchange of India Ltd (MCX) witnessed a record turnover and volume of Rs 2,021 crore and 6443 kilograms (kg) respectively on Tuesday in gold options contract, according to a release issued by the exchange.
Rusal Discusses Deals in China to Ease Sanctions Crunch
Gold Silver Reports (GSR) – Rusal Discusses Deals in China to Ease Sanctions Crunch — Rusal is looking for alternative sources of alumina, the raw material for aluminum, as sanctions block its normal supplies, according to the people, who asked not to be identified because the matter is private. At the same time, the Russian company is asking traders whether it can boost sales of the refined metal in ingot form in China, as its usual customers are cut off.
The Metal’s Recent Rise isn’t About Inflation Rising or Cryptocurrencies Falling
Gold Silver Reports – The Metal’s Recent Rise isn’t About Inflation Rising or Cryptocurrencies Falling — Gold has been on a tear of late, climbing more than $100 per troy ounce in the last six weeks, briefly exceeding the 2017 high of $1,359 in the process.
Global Economy to Push The Gold to Its Best Year Since 2010
Gold Silver Reports – Global Economy to Push The Gold to Its Best Year Since 2010 – Bullion futures on the Comex in New York jumped 13 percent in 2017 for a second straight annual gain. Other measures of the metal also defied the interest-rate odds: Holdings in exchange-traded funds backed by bullion advanced for a second year, as did the net-long position in the metal held by hedge funds and other large speculators.
Metals Slide on China
Gold Silver Reports — European stocks edged higher, even as mining companies retreated with industrial metals following China’s credit-rating downgrade. The euro and dollar steadied as investors awaited fresh clues on the path for U.S. borrowing costs.
Hottest Metal Boost Bullish Bets
Gold Silver Reports — Hedge funds expanded their bullish bets on silver to an all-time high even as this year’s hottest metals rally began to fade.
Money managers added to their net-long positions in silver for the fourth time in five weeks, chasing the kind of returns that in the first three months of the year sent the precious metal to its biggest quarterly gain since 2012. The price surge is showing signs of fatigue, with futures posting two consecutive weekly declines and a more-than 2 percent drop for May.