Precious Metals Highlights
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General News
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Fundamental Precious Metals
With the start of this week the shiny metal returns to gain momentum, where we can see the metal advanced since the opening in Asia, supported by demand as a hedge against uncertainty, where investors and markets in general are still waiting the euro-zone finance ministers' negotiations over Greece to end as time is running out and the nation approaches default.
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METALS OUTLOOK: Higher Prices Expected Next Week
Gold prices are expected to rise next week, but whether the metal gains value is largely dependent on the outcome of the Eurogroup meeting on Monday to determine Greece’s bailout.
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Shanghai Gold Exchange to cut trading fees
The Shanghai Gold Exchange (SGE) will cut trading fees for several of its precious metals contracts to reduce transaction costs, it said on Monday, a move seen aimed at keeping its fees competitive after its rival bourse cut margins last week.
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Gold Highlights
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Gold Bulls Expand as Billionaire Paulson Says Buy
Gold traders are getting more bullish after billionaire hedge-fund manager John Paulson told investors it’s time to buy the metal as protection against inflation caused by government spending.
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PRECIOUS-Gold climbs with euro on hopes for Greek deal
Gold prices rose more than half a percent on Monday as growing optimism that European leaders will sign off on a rescue deal for Greece lifted the euro, and after China's central bank further loosened monetary policy.
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Promising gold market in China
Gold hit a high of 850 dollars an ounce in the 1980’s and averaged 418.50 during the following decade, according to Bloomberg data. However, in the 2011 gold hot, consumers had come to sell their gold jewelry bought in the past in exchange for cash.
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Record High Gold Prices Fail to Curb Global Demand
Despite a volatile year for gold prices in 2011, demand for the precious metal still remained strong. According to the latest World Gold Council's annual report, gold demand totaled 4,067.1 tonnes, a slight increase from the prior year. Record low interest rates, inflation expectations and investment demand continued to drive the gold bull market.
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Silver Highlights
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Silver could be ready to move higher along with its shares next week
The metals have recently been consolidating their moves from the December lows and silver along with its mining shares are at a point which deserves watching. Both silver and its shares made bullish divergences at the end of last year and staged a stunning rally in the first month of 2012. Recently, prices have been consolidating those gains.
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Silver could well hit $65/ounce by year end
Silver investment sentiment has been hit by last year's sharp climb and subsequent crash, but charts are looking positive and the precious metal could be poised for another big jump in price this year.
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Platinum Highlights
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South Africa arrests 350 in clashes at platinum mine
JOHANNESBURG — Police arrested at least 350 people after deadly violence during an illegal strike at the world's largest platinum mine run by South Africa's Impala Platinum, a senior officer said Sunday.
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South Africa’s Troubles to Raise Platinum Prices Long Term
IMPALA Platinum reported flat production from its mines in a difficult operational period, but there was a sound performance in Zimbabwe where tax changes threaten the existence of that country’s mining sector.
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