Gold Silver Reports — Gold sales by retailers in Hong Kong are forecast to experience in 2016 the worst downturn in at least 15 years as fewer mainland shoppers spend less money on jewelry.
Commodity News
Commodity News – Real-time Accurate MCX Commodity Market News and forecast for today. Best commodity market online tips through whatsapp and telegram by Neal Bhai.
Sibanye Ready for Gold Acquisition
Gold Silver Reports — Sibanye Gold Ltd., the biggest producer of the precious metal from South African mines, wants to buy a gold-producing asset by the end of the year, adding to its acquisitions of platinum operations in its home country.
The asset would have to make a “material difference” to Sibanye’s current output, meaning it would have to produce at least 200,000 ounces of gold a year, Chief Executive Officer Neal Froneman said in an interview after the company’s annual general meeting Tuesday. Any acquisition would have to be generating cash to help pay dividends, he said.
Dollar Rally Weighs on Gold
Gold Silver Reports — Open mouth, move the dollar. Comments by Federal Reserve Bank of Philadelphia President Patrick Harker late
Fed Signals Higher Rates
Gold Silver Reports — Gold fell for a fifth day, the longest run of losses in six months, as speculation that the Federal Reserve will raise interest rates as early as next month strengthened the dollar and dented the metal’s allure.
Gold Prices Slip by Rs 105per 10grams
Gold Silver Reports — Gold prices fell by Rs 105 per 10 grams at the bullion market on May 23, tracking a weak global trend amid easing demand from jewellers at prevailing levels.
Gold Traders Remain Bullish – Buy on Dips
Gold Silver Reports – Gold traders are still bullish on gold, even after a selloff brought on by expectations of faster U.S. rates increases following the release of Federal Reserve minutes this week.
Gold open on Flat Note Tracking Mixed International Clues
Gold Silver Reports — Gold may open on flat note tracking mixed international clues as FOMC meeting minutes later today will give further direction to the prices.