Record leaps in gold collide with the dollar’s recovery

Source: Reuters

Gold lost more than 2%, Friday, stopping an unprecedented series of gains, after an acceptable job report in the United States supported the dollar, but the deterioration of the pandemic situation kept prices on the path of achieving the longest series of weekly gains in about ten years.

And after the spot price of gold recorded an unprecedented high of $ 2072.50 an ounce, it was by 1846 GMT, down 1.4% to $ 2033.89. It has increased 3% since the start of the week, in what will be its ninth consecutive weekly gain.

And US gold futures were settled down 2%, to $ 2028 an ounce.

The dollar rebounded from a two-year low after data showed that US non-farm payrolls increased by 1.763 million in July, compared to a record increase of 4.971 million in June, due to renewed US-China tension.

Adding to the pressure on gold, a new US aid package linked to the Coronavirus has faltered.

“Once they agree on the stimulus, it will be negative for the dollar. The global economy is still very volatile, and as a result we will find more easy money, so it’s all negative for gold,” said Edward Mayer, an analyst at ED&F Man Capital Markets.

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Gold .. index funds holdings increase 166 tons in July

Source: London – Reuters

The World Gold Council said on Thursday that index funds increased their gold holdings for the eighth consecutive month in July, by 166 tons, valued at $ 10 billion, which contributed to the rise in prices to record levels.

Investors are buying gold in huge volumes in search of an asset that will preserve its value amid the market turmoil caused by the Corona virus, which has raised the price of the metal 35% this year.

Gold this week broke the two thousand dollars an ounce barrier for the first time, and many analysts see it as a candidate for a further rise.

Index funds, which hoard gold on behalf of investors, collected 899 tons of the metal between January and July, nearly two-fifths of the total global supply over that period, according to the Gold Council.

That number greatly exceeds any previous annual increase in the holdings of index funds, and brings a total of 3785 tons in its portfolio to a value of $ 239 billion, according to the council.

Gold settled near a record high today, Friday, as the dollar regained some of its luster as a hedging tool in the face of a new escalation of US-Chinese tensions, but concerns about the worsening pandemic kept gold on its longest weekly gain in nearly ten years.

The spot price of gold recorded an unprecedented high of $ 2072.50 an ounce in early trade to $ 2062.15. The metal increased 4.4% this week, in what will be its ninth weekly gains in a row. And US gold futures advanced 0.1% to $ 2072 an ounce.

Gold, which is considered a safe haven, reached its highest level ever, last Wednesday, to continue its record high above the level of $ 2000 due to the weakness of the dollar and bets on more stimulus measures to revive the economy that is ravaged by the Corona virus pandemic.

And due to the state of anxiety that the Coronavirus pandemic raises in the markets, the value of gold has increased nearly 35% this year, making it one of the best performing assets in 2020.

Investors fear that the economic stimulus being launched in response to the pandemic will inflate and reduce the value of other assets and keep bond yields at historically low levels, which enhances the attractiveness of gold that does not yield a return.

Gold crossed the $ 2000 barrier for the first time last Tuesday, and reached a new peak of $ 2044.34 an ounce earlier on Wednesday.

By 1615 GMT, the yellow metal was up 0.87% at $ 2,035.60.

US gold futures rose 1.4% to $ 2049.20 an ounce.

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The record continues! Predicted Gold Prices Translucent Rp 1.8 Million / gram

Jakarta, CNBC Indonesia – The world gold price tends to slightly strengthen flat on Thursday morning Asian time trade (6/8/2020). The rally in gold prices that occurred throughout this year is expected to continue and bring gold flying higher.

At 09.05 WIB this morning, the price of gold on the spot market rose 0.06% to US $ 2,041. On Wednesday’s trading, the price of gold closed at US $ 2,039.4 / troy ounce.

With this increase, sThe closest top level after the US $ 2,000 level was successfully broken is US $ 2,200 / troy ounce. Furthermore, there are Bank of America (BoA) and RBC Capital which predict the price of gold will soar to US $ 3,000 / troy ounce.

“With the price of gold rocketing to all-time highs, making gold a ‘star asset’ in 2020,” wrote a strategist from RBC Capital in a report.

“With this background, we change the current base case scenario to a low scenario, the previous high scenario has now become a base scenario and estimate a new high scenario with gold prices going to touch US $ 3,000 / oz assuming that the current situation will actually get worse. “wrote the report, as quoted by KitcoNews.

“The factors that can trigger fantastic price increases will occur with the continuation of the unprecedented monetary stimulus, potential asset bubbles, and inflation that is difficult to control. This is why we expect what was never expected about future risks,” continued the strategic. the.

The CEO of US Global Investors, Frank Holmes, has an even more bullish forecast. Holmes predicts the end of this bullish gold cycle will be at US $ 4,000 / troy ounce.

Then how much is the rupiah per gram?

Referring to the rules on the world market, one troy ounce is equivalent to 31.1 grams, so that the estimated world gold price of US $ 4,000 / troy ounce is converted by dividing that number by 31.1 grams, the result is US $ 128.57 per gram.

Assuming the current rupiah exchange rate is Rp. 14,600 / US $, the projection of gold in rupiah per gram could reach Rp. 1,877,122 / gram. However, it should be noted that this price does not include print production such as that produced by PT Aneka Tambang Tbk (Antam) and other factors.

It’s just that, Holmes emphasized, price corrections can occur at any time and investors must buy when it occurs.

From an economic point of view, Holmes estimates that inflation will rise but interest rates will remain low, thus making real interest rates negative. “The more negative the real interest rate, the higher the gold price,” said Holmes.

The narrative that makes gold prices strengthen is still the same and has not changed. Pandemic Coronavirus Disease 2019 (Covid-19) which has devastated the global economy, creating interest in investing in assets safe haven increased.

Coupled with the risk of high geopolitical tension and chaos in Washington-Beijing, gold precious metal is getting luster. From the fundamentals side, gold price was also supported by low benchmark interest rates.

RESEARCH TEAM CNBC INDONESIA

[Gambas:Video CNBC]

(bag bag)


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Selling and Buyback Prices for the Precious Metal Gold Gallery 24 Today, Thursday, August 6 2020

PORTAL JEMBER – Today investment is important, especially if it is intended for the long term. Investments that can be selected in the long term namely gold.

The reason is, gold is a timeless investment tool. Gold is also suitable for many purposes because of its stable value.

Gallery 24 is a jewelry retail company and gold, as quoted by the Jember Portal from the page Gallery 24.

Also Read: Anji’s Unapologetic Commentary, Susi Pudjiastuti: You Are Very Irresponsible

Company Gallery 24 is also a subsidiary of PT Pegadaian Persero.


Quoted from page Gallery 24 on August 6, 2020, here is the price list precious metals gold bars Gallery 24, Thursday 6 August 2020.

Also Read: Surah Al Kafirun Verses 1-6 Arabic, Latin, and Its Meaning in Indonesian

Gold Bar Selling Price Gallery 24

0.5 grams: IDR 583,000

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Fossil find the last predator dinosaur in Argentina

Fossil find the last predator dinosaur in Argentina

Wednesday – 27 Ramadan 1441 AH – May 20, 2020 AD No. No. [
15149]

Meat-eating dinosaur

London: «Middle East»

The remains of a predatory dinosaur (Megaraptor) have been found, becoming one of the last meat-eating dinosaurs that inhabited the planet, according to fossil scientists from the Argentine Museum of Natural Sciences.
The southern province of Santa Cruz witnessed the discovery in mid-March. After the experts studied the fossil remains of ten meters, they realized that they were studying the remains of a predator dinosaur from the end of the “age of the dinosaurs.”
“This is the moment that took place 65 million years ago when the dinosaurs became extinct, and this megapator that we must now study will be one of the newest representatives of this group,” the paleontologist in charge of the project, Fernando Nobath, told Reuters. This type of dinosaur is thinner than the Tyrannosaurus rex and it was fast and had a long tail allowing it to maintain its balance. Nobath said that they had a muscular structure and legs stretched out to make strides. “The specific feature of this megapetor was in two long arms and his thumb ended with a claw about 40 cm long,” allowing him to pounce on his prey, Noboth added.

Argentina

Argentina

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A long way to go between Argentina and creditors

A long way to go between Argentina and creditors

Buenos Aires shows {flexibility} in debt restructuring negotiations totaling $ 65 billion

Thursday – 12 Shawwal 1441 AH – 04 June 2020 AD No. No. [
15164]

The Argentine economy minister expects the road to negotiations with creditors to be long (Reuters)

Buenos Aires: «The Middle East»

Argentine Economy Minister Martin Guzman said Argentina is “flexible” in debt restructuring talks with its creditors, but there is still a “long way” before a “sustainable” agreement is reached.
“Argentina is flexible regarding the set of factors that should form the basis of any offer” for a debt restructuring of $ 65 billion, Guzman said in an interview with German news agency DPA. However, he said, “We cannot make promises that we cannot fulfill … The agreement makes sense only if it is an agreement that takes care of Argentina entirely.”
Buenos Aires stresses that the debt installments cannot be so large that the state threatens to go bankrupt and leaves no room for the shrinking economy to start growing again.
Creditors rejected Argentina’s offer of a three-year moratorium, reducing interest payments by 62 percent, and reducing major payments by 5.4 percent.
Guzmán said that the government had not yet submitted a new proposal, and that negotiations with creditors were currently dealing with “conditions … including the issue of the supply structure”. The minister noted that Argentina is also in talks with the International Monetary Fund to assess its ability to pay. “From the moment Argentina adjusts its offer, there must be an additional 10-day period until the date on which the offer ends,” the minister stressed.
The minister refused to specify the possible length of negotiations. “It depends on the willingness of the parties to understand the restrictions facing the country, as well as on the ability of creditors to settle their differences,” he said. He noted that “creditors are very different, and they have different preferences on how to solve this.” He stressed that the most important of the duration of the talks is that «this needs a good solution. Argentina will only make a commitment if it can respect it. ”
At the same time, Guzmán said, Buenos Aires is discussing a possible new economic program with the International Monetary Fund, through which it is developing a “fruitful” relationship. The fund had previously given Argentina a $ 57 billion bailout package, the largest IMF credit line ever … but the International Monetary Fund is not very popular in Argentina, as critics blame it for austerity policies.
“The previous program was created very quickly, and it was a governmental decision, and the community was not involved,” Guzman said. He promised that this time there would be a “very important social discussion” on relations with the IMF.
Guzmán said that when President Alberto Fernandez’s left-wing government took office last December, it found that the country was “in a total economic crisis and deep debt, and that public finances were in poor shape.”
Argentina has already entered the state of default 8 times, the last of which was in 2001. Guzmán stated that the country now needs to “rebuild confidence” through “monetary and fiscal policies and exchange rate policies that are compatible with each other.” He pointed out that the other main element in creating confidence is “rescheduling debt and bringing it to levels that the country can deal with”.
The Corona pandemic crisis exacerbated Argentina’s economic problems. Guzmán said the country had made health its priority and imposed a “very strict sanitary quarantine.”
On the other hand, the International Monetary Fund said, on Monday, that Argentina’s latest offer to restructure its debt will restore its debt sustainability, and that there is little opportunity for another increase in its payments to private creditors, according to “Bloomberg” agency.
The fund said in a statement: “There is only a limited scope for increasing payments to private creditors, and it still has to pay the debts and service those debts.” In its statement, the Fund added: “The Argentine authorities’ revised proposal for debt restructuring will be consistent with the recovery of debt sustainability with a high probability.”
This is the first comment from the International Monetary Fund since it issued an 18-page “technical note” on March 20, in which it analyzed the Argentine government’s ability to pay debts.

Argentina

Argentina

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The discovery of a fossil frog dating back two million years in Argentina

The discovery of a fossil frog dating back two million years in Argentina

Wednesday – 18 Shawwal 1441 AH – 10 June 2020 AD No. No. [
15170]

Prehistoric frogs

London: «Middle East»

At a depth of 44 meters during the drilling of a water well in San Pedro, 180 kilometers north of Buenos Aires, Argentine scientists have discovered fossil remains of a type of frog that lived in the center of this South American country about two million years ago, according to Agence France-Presse.
“We don’t know much about prehistoric frogs,” said Federico Aniolan, a researcher with the Argentine Institute of Natural Sciences, at the Science Publishing Agency at the National University of Matanza.
He added: “Frogs and hells are affected greatly by climatic and environmental changes, so they are an important source of information to understand past climates.” And the find happened. The researcher stressed that the paleontologists found “the bone of the humerus is a very small amphibious organism different from the hulls and frogs of trees.”
He emphasized that the petite fossil was identified despite its size because the petroats; It is a group of amphibians, including frogs and toads, with a special structure at the tip of the humerus in the elbow joint. This special structure provides it with great ductility to make quick movements and stability. “The discovery is a great contribution to paleontology in Argentina,” said Federico Aniolan.

Argentina

Effects

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Annuities: Melons, defended them, the Pd – Last Time – ANSA Agency

  1. Annuities: Melons, defends them to the Pd – the Last Time the Agency ANSA
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  3. Survey Masia, Alloy-Fdi-Forza Italia on the rise: the figures of an overwhelming majority Liberoquotidiano.it
  4. Survey: the M5S is down, the salt Brothers of Italy Adnkronos
  5. Melons: “For the manifestation of the 4th of July in Rome, authorised only 2 thousand people. Crazy stuff” the Republic
  6. View the complete coverage on Google News

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Why gold prices rose in Egypt to new highs on?

04:35 pm

Sunday 21 June 2020

Written – Shereen Salah:

Gold prices in the local market hit a new high during trading yesterday and today, with the rise of knowledge globally.

Gold prices have jumped by about 5 pounds for the fact, reaching a new record level in Egypt.

The price of a gram carat gold 21 in Egypt on Sunday, 782 pounds.

Scoring rate grams gold 18K to 670 pounds, the caliber of 24 to 893 pounds, and the price of the gold pound 6256 pounds.

Why prices of gold?

Club said Najib, Secretary General Division of gold in the next Trade, see, if the rise in gold prices in the local market due to the rise of knowledge globally through the session, last Friday the stock exchange world.

He continued Najib, that the rise came as a result of the trend of investors to purchase quantities of gold as a safe haven in the shadow of the fallout of the crisis of the corona.

Which is the same as mentioned by Nagy Farag is a member of the board of the division of gold in the next trade, saying that the rise of gold in the local market came as a result of the rise of the world price during the session last Friday.

Globally, gold prices finished World dealings yesterday, up by 1.22% compared to the beginning of trading session.

According to the data of the agency Bloomberg gold prices rose, the global value of 20.9 dollars per ounce to reach 1743.8 dollars by the end of the dealings.

According to Najib, the price in the local market is affected by the age of the world, “when the climbing price of listed shares of the world reflected on the domestic price and vice versa”.

He continued Faraj, that the high price in the local market accompanied by further stagnation, “the movement of buying interest is very weak in the shadow of the crisis of the corona and the absence of the joys in addition to high price”.

Affected the gold market during the past period since the beginning of the pandemic Corona, dip buying interest as a result of the closure of the halls of the joys and closing shops at certain times of the actions taken by the government to reduce the spread of the virus.

He predicted trade and a further rise in the price of a gram in the local market during the coming period to up the price of a gram of 21-gauge to 790 pounds.

Added Naji Faraj, it is difficult to reflect the gold the direction of his landing in the shadow of the crisis of the corona, as long as the crisis exists and will keep pressure on gold buying as a safe haven.

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Gold is benefiting from fears the “second wave”

Stepped gold prices 15 percent since the beginning of the year, supported by demand for safe havens amid fears of economic slowdown and levels unprecedented financial support and cash by the governments and central banks, which reduced the bond yields also declined, fears about inflation.

And for the currency basket, the dollar index rose 0.2 percent..

As for other precious metals, falling palladium 0.6 percent to 1913.17 dollars per ounce, heading towards a decline for the third consecutive week.

Stepped platinum 1.2 percent to 813.56 per ounce, an increase of 0.9 percent since the beginning of the week.

Silver rose 0.6 percent to 17.62 USD, and on its way to record a second weekly gain.

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Increased gold in online transactions 1.1 percent to 1740.79 dollars an ounce (an ounce) by at 18:03 GMT, while the settlement of contracts U.S. futures for gold up 1.3 percent to 1753 dollars per ounce..

The spot prices for gold reached last month to its highest level since 2012, to 1764.55 dollars.

Was the announcement about the injury, more than 8.38 million people with MERS-CoV in the world, came the tests of about 400 workers positive in the massacre of northern Germany, and China announced 32 new cases of the day.

Stepped gold prices 15 percent since the beginning of the year, supported by demand for safe havens amid fears of economic slowdown and levels unprecedented financial support and cash by the governments and central banks, which reduced the bond yields also declined, fears about inflation.

And for the currency basket, the dollar index rose 0.2 percent..

As for other precious metals, falling palladium 0.6 percent to 1913.17 dollars per ounce, heading towards a decline for the third consecutive week.

Stepped platinum 1.2 percent to 813.56 per ounce, an increase of 0.9 percent since the beginning of the week.

Silver rose 0.6 percent to 17.62 USD, and on its way to record a second weekly gain.

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