Latest News:  


Gold ends higher for 3rd day


08:35, July 11, 2013

CHICAGO, July 10 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange ended higher Wednesday for a third session in a row, supported by potential higher demand for jewelry, bars and coins, especially in China.

The most active gold contract for August delivery rose 1.5 dollars, or 0.12 percent, to settle at 1,247.4 dollars per ounce. Gold tumbled 23 percent in the second quarter, and some buyers have used the plunge as an opportunity for purchases, according to a report released by ABN Amro Group N.V. Wednesday.

Some analysts say retail buying in gold remains strong, especially in China, while the weakness in the U.S. dollar on the day also providing some underlying support for gold. The U.S. dollar fell as much as 0.6 percent against a basket of six major rival currencies.

Also Wednesday, gold futures gained more ground in electronic trading after the close of the COMEX, with August gold rising further to 1,261 dollars an ounce, shortly after the release of minutes from the U.S. Federal Reserve's meeting in June.

About half of the Fed's 19 member policy-making committee said they would support ending its monthly 85-billion-U.S. dollar bond buying program late this year. Some analysts believe gold's gain comes from comments from several Fed officials trying to reassure the markets, backing away a little from Fed Chairman Ben Bernanke' s original comments that spooked the market, according to MarketWatch.

Against this background, silver for September delivery rose 2.7 cents, or 0.14 percent, to close at 19.165 dollars per ounce.

We Recommend:

How did Chinese solar industry go bankrupt?

Born to lead: 2nd gen of Chinese tycoons

Chinese graduates’ unconventional jobs

China's largest railway terminal officially opens

Dazzling gems shine at Beijing jewelry show

Boeing 787 Dreamliner to serve Beijing-Haikou route

New high-speed rail linking Nanjing, Ningbo opens

Jiaxing-Shaoxing Sea Bridge in E China

Chinese investors' happiness and sadness

Email|Print|Comments(Editor:ChenLidan、Ye Xin)

Leave your comment0 comments

  1. Name


Selections for you

  1. Chinese,Russian naval forces leave for drill

  2. China-Russia joint drill enters 2nd day

  3. Iranian female ninjas show combat skills

  4. Children's hospital full of patients

  5. Pushy parents turn matchmaking events

  6. China's weekly story

  7. Egrets enjoy life in forest

  8. Cute cats vs stylish women

  9. China Pan-Asia Stone Expo kicks off

  10. China's 50 best CEOs named

Most Popular


  1. China didn't cause German solar firms' bankruptcy
  2. China, U.S. discuss cyber security
  3. Why are we obsessed with selfies?
  4. Israel keen on luring Chinese tourists
  5. 'Bernanke shock' necessary
  6. Safety first for baby formula
  7. Defense paper shows Tokyo's hysteria
  8. Shanghai investor sentiment drops
  9. Graduates need more help to start business
  10. CPC is thriving

What’s happening in China

Wild Siberian tiger kills cattle in NE China

  1. China confirms 132 H7N9 cases, 43 deaths
  2. China completes overhaul of dairy standards
  3. Buddhist life attractive to people under stress
  4. Newborns' weight leads caesarian births rise
  5. New system adopted for fairer access to organs