5 Aug 2014

Gold Seen Reaching $1,400 by USAGOLD as U.S. Inflation Quickens

comex gold news

                   Gold will extend this year’s surprise rally and climb to the highest price since September on the outlook for accelerating inflation, USAGOLD Centennial Precious Metals Inc. said.
The metal will reach $1,400 an ounce by the end of the year, also supported by higher demand from Asia, Peter Grant, chief market analyst at USAGOLD in Denver said in a telephone interview yesterday. Bullion will climb even if the Federal Reserve increases interest rates, because gains in borrowing costs will probably be accompanied by rising consumer prices, he said.
Gold futures surged 57 percent in the two years through June 30, 2006, as the Federal Reserve raised its benchmark rate to 5.25 percent from 1.25 percent. Interest rates rose as the central bank struggled to contain inflation that accelerated to 4.3 percent, from 3.3 percent. Bullion fell 3 percent in July as the prospect of rising borrowing costs curbed the appeal of the metal as an alternative asset.
“If you look back over time, there are plenty of instances where rates have risen and gold has risen as well,” said Grant, who has tracked the precious metal for 28 years. “Inflation was going up and the Fed was chasing inflation by raising interest rates during that period,” he said, referring to 2004 to 2006.
The metal rallied 7.2 percent this year to $1,288.90 on the Comex in New York partly as violence in Ukraine and the Gaza Strip boosted demand for haven assets. Gold tumbled 28 percent in 2013, the biggest slump in three decades, as signs of accelerating U.S. economic growth raised concern that the Fed’s stimulus would end.

India Imports

The central bank reduced its monthly bond-buying program to $25 billion on July 30, making a sixth consecutive $10 billion cut.
Gold imports by India, the world’s second-largest user, jumped 65 percent in June after the central bank allowed more banks and traders to buy bullion overseas, widening the nation’s trade deficit to an 11-month high.
“I’m primarily looking at the actual physical demand driving prices higher,” Grant said. “I also think inflation is going to pick up a little bit as I anticipate that energy prices are going to rise by year-end as well.”
USAGOLD is a precious-metals dealer. - bloomberg

34 comments:

  1. Epic Research has two days free trial in all segments, you grab profit by the free trial.

    ReplyDelete
  2. ALUMINIUM (30 SEP.) TREND: CONSOLIDATE
    RES 1: 122.00
    RES 2: 123.00
    SUPP 1: 119.00
    SUPP 2: 118.00
    STRATEGY: SELL ON HIGH
    MCX tips

    ReplyDelete
  3. Bullion is fluctuating more these days and moving low. You have here given a great report on it so anybody can easily knows about the future fundamentals about it. Thanks for sharing here.
    Stock Tips

    ReplyDelete
  4. Please post some free mcx tips over here to trade in Intraday commodity Market. And where to find Gold Chart Live?

    ReplyDelete
  5. Trading sentiments at futures market were dampened after COMEX GOLD prices retreated in Asian trade today on profit taking following a six-day rally.

    Regrads-

    epicresearch.co

    ReplyDelete
  6. So useful blog and very informative thank you for sharing us.
    Thank You

    ReplyDelete
  7. It is extremely helpful for me. Thank you for taking the time to discuss this, I feel strongly about it and love learning more on this topic. If possible, as you gain expertise, would you mind updating your blog with more information?!!!!!!!!
    Commodity tips

    ReplyDelete
  8. Very nice updates, your blogs are always interesting
    commodity trading tips

    ReplyDelete
  9. SRF: Buy (for intraday) target - and stoploss of Rs 1148 - Rs 1127
    Financial Advisory Company in Indore

    ReplyDelete
  10. Traders can watch daily free market update with this blog, thanks for sharing informative trading news. Epic Research also recommends unique trading tips.

    ReplyDelete
  11. Crude Oil Jackpot Call Vision to be a globally esteemed organization which provide best financial solutions, using high-end technology and by most excellent mind.
    Mcx Calls in Crude Oil

    ReplyDelete
  12. Copper September delivery is quoted at $ 2.196 - down 0.2 percent.
    CapitalStars

    ReplyDelete
  13. The guidance will be depending on essential and technological factors.We give misunderstandings free telephone calls with single focus on, so that investor can easily trade with each and every call.
    Commodity Gold Tips Free Trial

    ReplyDelete
  14. Investment in this sector can create good return from small capital. Follow MCX Tips and Commodity Tips for more information.

    ReplyDelete
  15. Stock advisory tips,Share Market TipsPREMIUM FUTURE CALL: BUY DLF FUTURE ABOVE 130 TGT 130.40 131 SL 129 BELOW

    ReplyDelete
  16. Safal Trading is one of the best intraday tips providers for Indian commodity market.

    Commodity tips Free Trial

    ReplyDelete
  17. Gold Crude Research LLC is a US base firm. We provide high accuracy Crude Oil Tips. We provide daily 30 to 40 point tips with high accuracy. We provide full support to our client, SMS, Chat support, Phone Support. MCX HNI Tips, Gold Tips, Silver Tips, Bullion Tips, Zink Tips, Curde Oil Tips, Natural gas Tips, Lead Tips Base Metal Tips, Forex Signals

    ReplyDelete
  18. The 30-share BSE Sensex was down 111.64 points at 31,780.59 and the 50-share NSE Nifty fell 31.60 points to 9,942.80.capitalstars

    ReplyDelete
  19. thanks for sharing intraday tips you can help us a lot to all traders ,,,,,,
    Stock tips

    ReplyDelete
  20. one of the awesome work has been done by you
    Stock tips

    ReplyDelete
  21. nice post about "Gold Seen Reaching $1,400 by USAGOLD as U.S. Inflation Quickens"

    Thanks,

    Free Commodity Trading Tips

    ReplyDelete
  22. well written post about Gold Seen Reaching $1,400 by USAGOLD as U.S. Inflation Quickens

    Thanks,

    NIOS Admission 12th 2018

    ReplyDelete
  23. free trial
    I-DAY MCX SELL LEAD BELOW 163.7 TARGET 163-162.2 SL 164.4
    OUR FIRST TGT 163 ACHIEVED IN LEAD SELL CALL, BOOK PARTIAL PROFIT AND TRAIL SL AT COST

    ReplyDelete
  24. nice blog.
    Price is what you pay value is what you get..
    capitalstars13

    ReplyDelete