• Sat
  • Nov 29, 2014
  • Updated: 10:53am

Gold Price

Hong Kong retail sales climb 21pc as gold falls

Plummeting gold prices brought the city an additional HK$4.45 billion in retail sales last month as consumers took advantage of the slump to snap up jewellery and watches, although jewellers expect the gold craze will now taper off.

Friday, 31 May, 2013, 5:44am

Plunge in gold price puts a bad idea out of its misery

It looks as if the 20 per cent fall in the price of gold over the past six months has put the Hong Kong Mercantile Exchange out of its misery.

20 May 2013 - 4:18am 1 comment

Gold falls as Soros and BlackRock cut investments

Gold dropped to the lowest in almost a month as filings showed that George Soros and BlackRock cut holdings of bullion-backed exchange-traded products, adding to signs that investment demand is waning as US equities rally to records.

17 May 2013 - 4:06am

Chinese mothers beat Wall Street to force gold price rebound

Taking advantage of the steepest drop in three decades, Chinese mothers have shored up prices by splashing out on gold for their daughters' weddings in the past couple of weeks, foiling the plan of finance gurus who have been short selling the precious metal in the hope of pushing it lower.

3 May 2013 - 8:48am 4 comments

Gold drops after fund holdings fall

The price of gold fell more than 2 per cent yesterday, set for its biggest daily drop since the metal's historic decline in mid-April, hit by a commodities sell-off and uncertainty ahead of a policy statement by the US Federal Reserve.

2 May 2013 - 3:47am

The weight of paper

The recent sharp drop in the gold price has taken many investors by surprise, setting off a scramble to understand why, and what lies ahead. The past years' series of crises and the onset of quantitative easing by the world's major central banks a few years ago invited new interest in gold.

29 Apr 2013 - 3:59am 1 comment

Sharp price fall triggers surge in China gold imports

Volumes for the benchmark spot contract on the Shanghai Gold Exchange exceeded 20 tonnes every day since April 16, when prices tumbled to the lowest since August 2010. That is more than four times the daily average last year, according to exchange data.

27 Apr 2013 - 5:44am

Gold loses its glitter despite central banks piling in

Last year central banks bought the most gold since 1964 - just before the collapse in prices into a bear market underscored investors' weakening faith in a globally traditional store of value.

26 Apr 2013 - 4:13am

Wild ride of gold prices is a lesson for investors

The rollercoaster ride in the price of gold has spooked many investors. Early last week, it suffered a two-day rout of more than US$200, the steepest plunge since 1983, when the last bull market in gold was ending and the two-decade bear market began. So much for its reputation as a safe haven! It has since staged a recovery but is still down more than 10 per cent from the start of this month.

25 Apr 2013 - 3:03am 2 comments

Rush of buyers raises premium on gold bars

The premium on gold bars in Hong Kong has jumped 2.5 times as local and mainland investors continue to pile into the precious metal to take advantage of falling prices.

24 Apr 2013 - 5:50am

Gold bugs rush in as low prices fuel trade

Gold volumes for the benchmark cash contract on the Shanghai Gold Exchange, China's largest spot bullion market, have climbed to a record as lower prices lured buyers.

The volume for bullion of 99.99 per cent purity exceeded 43 tonnes for the first time and topped the previous peak, reached on Friday, of 30.44 tonnes, according to exchange data.

23 Apr 2013 - 4:45am

Mainland Chinese shoppers invest billions in gold

The scene at each of the four Chow Tai Fook stores dotting Causeway Bay's Hennessy Road was the same: a rush of buyers snapping up jewellery, coins and other gold items.

23 Apr 2013 - 10:24am

Gold claws back ground as Asian buyers step in

Spot gold rose up to 2.6 per cent to US$1,426.05 an ounce but fell back to US$1,404 at about 3pm in London. Prices slumped to US$1,321.95 on Tuesday, the lowest since January 2011.

20 Apr 2013 - 5:35am

Low costs help cushion Chinese gold producers

Gold prices might have further to fall but Hong Kong-listed gold miners could escape the closures of some overseas counterparts thanks to low production costs, analysts said. About 15 per cent of the world's gold miners became unprofitable after the metal's price fell to levels close to the global average production cost of US$1,200 an ounce, Bloomberg quoted Tyler Broda, a London-based gold analyst at investment bank Nomura, as saying.

19 Apr 2013 - 5:25am

Hunt for bargains after gold price falls the most since 1983

The plunge in the price of gold has triggered a buying spree for jewellery and bullion in Hong Kong, Shanghai and Beijing as some investors judge the decline has gone far enough.

17 Apr 2013 - 5:22am

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