Live London Gold News Wire

NEW in the last 5 minutes www.usagold.com --LIVE NEWS--
Gold Inches Up As Goldbugs Seek Reasons For Historic Rout	15:27 Forbes
Will Silver Prices Keep Falling?	15:26 Money Morning
5 to 10 minutes old www.usagold.com --LIVE NEWS--
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US STOCKS-Wall St gains 1 pct, lifted by gold, earnings and data	15:21 Reuters - Economy
NZ dollar gains before CPI, helped by dairy gains, stocks	15:20 Scoop - Business
10 to 15 minutes old www.usagold.com --LIVE NEWS--
If Gold Was "Just A Commodity" What Would Be Its Support Price	15:19 Zero Hedge
5 Facts To Consider Before Buying Or Selling Gold	15:19 Forbes - Home US
Japanese investors still prefer gold	15:16 The Age
As global price slumps, 'Abenomics' risks drive Japan gold bugs	15:16 Reuters - Industry, Materials & Utilities
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Inflation continues to look up‚ at 10.2pc	15:13 Himalayan Times - Business
Gold's Safe Haven Appeal Unfortunately Restored	15:12 SeekingAlpha - Macro View
As global price slumps, "Abenomics" risks drive Japan gold bugs	15:12 Daily Press, Virginia - Business
Don’t trash gold – it always comes back	15:11 FT.com - Comment & Analysis - Letters
Shoppers hunt for bargains after gold price falls the most since 1983	15:11 South China Morning Post - Commodities
Seoul plans HK$135b boost for economy	15:08 South China Morning Post - Economy
Forex: EUR/USD tests 1.3200; Seems there is room for further gains	15:08 FXstreet - Forex News
Countries Buying the World’s Gold	15:08 Fox Business - Mutual Funds & ETFs
UK inflation rate stays at 2.8% in March	15:06 Business Times Online - World (Premium)
Eurozone inflation continues to ease	15:06 Business Times Online - World (Premium)
Speculative selling turns gold story murky	15:05 Business Times Online - Premium - Top Stories
Colombia Stocks Rebound, Led By Ecopetrol; Peso Unchanged	15:03 Fox Business - Industries
Gold keeps shine for some despite plunge	15:03 The Dominion Post - Business
5 mutual funds hammered by gold	15:02 MarketWatch
Gold price drop positive for global economy	15:02 Business Times Online - Editorial and Opinion
Resort at Pembroke Pines' Platinum Package	15:02 PR Newswire (Press Release) - Financial Services
Falling Inflation Takes Gold Down With It	15:02 SeekingAlpha - Macro View
Influential economic study on austerity may be flawed	15:01 Reuters - Economy
Gold's Plunge Is Happy News for India's Brides and Economists	15:01 Business Week - Global Business
A viable single eurozone currency is unlikely	15:00 FT.com - Comment & Analysis - Letters
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
ISE stays bearish	14:59 Pakistan Observer - Business
Rift hitting hard economy, consumers	14:59 Pakistan Observer - Business
Gold And Silver Rebound But Prepare For More Pain	14:57 Investors Business Daily - Investing
Platinum Underwriters Holdings Moves Up In Market Cap Rank, Passing Advanced Micro Devices	14:56 Forbes.com - Investing
Investing in Gold: Here's What to Do Now	14:56 Money Morning
The close: Stocks rebound and gold stabilizes	14:53 The Globe and Mail
Obama ocean plan aims to protect economy, environment	14:52 Reuters - Consumer Goods & Retail
Gold Resource Corporation Reports First Quarter Production; Maintains 2013 Production Outlook	14:51 PR Newswire (Press Release)
US STOCKS-Wall St rebounds, lifted by gold, earnings and data	14:51 Reuters - Economy
Gold fallen to its lowest	14:45 Fiji Times - Business
Hungary sees budget on track, economy growing	14:43 Gulf Today - Business - International
China steel futures slip on global economy woes	14:43 Gulf Today - Business - International
Glencore clinches Chinese approval with copper deal	14:43 Gulf Today - Business - International
Australian treasurer Swan: IMF reaffirmed the resilience of the Australian economy – Australia outperforming	14:42 ForexLive.com
Fool's Gold	14:41 SeekingAlpha - Macro View
GLOBAL MARKETS-Brent below $100; gold, U.S. stocks bounce after rout	14:41 Reuters - Economy
Bullish Two Hundred Day Moving Average Cross - WHX	14:40 Daily News, L.A.
Gold price falls below Rs27K mark in India	14:38 Gulf Today - Business - Regional
Gold recovers slightly after a steep drop	14:38 Centre Daily Times, Pennsylvania - Business
Inflation Update – Benign, but on the Rise?	14:35 The Pragmatic Capitalist (Weblog)
Most will not be familiar with West Australian gold exploration company Evolution Mining.	14:34 Sydney Morning Herald - Business

Strong rebound on short-covering, international physical demand

by Peter A. Grant

Apr 16, AM
(from USAGOLD.com) --

Gold rebounded on international markets overnight and in the early hours of U.S. trading. As is often the case after a sharp selloff, short-covering is leading the rally. Gold is up over $40 from yesterday’s intraday low at $1345 per ounce as this is written and trading at $1383 per ounce level.

The two-day price drop that began on Friday could not have come at a better time for India’s buyers as that country enters its wedding seasons – a traditional time for high volumes in the physical market. The lower price was greeted with a surge of in the United States too as reported here yesterday. That interest continues today with strong call volume at our offices and a steady stream of buy orders.

Reuters similarly reports strong interest this morning in Asia with premiums soaring to 16-month highs – an indication of building demand. One Beijing physical gold firm reported a 60% to 70% rise in demand “because of the lower prices.” Dubai gold merchants similarly reported “big business” the result of lower prices.

There is little in the way of fresh news on gold’s two-day sell-off, but its mysterious origins, i.e. the 400-tonne and 100-tonne paper sales on the Friday Comex open still beg an explanation. An HSBC report called the gold market “oversold,” a description with which we happen to agree. It looks for a “slow grind higher.”

HSBC shrugged off most of the mainstream explanations for the sell-off by saying: “None of them in isolation truly explains the violence of the move. This type of capitulation needs significant selling by the major players in the market. These sales are fast and large whilst the real buyers are slow and small. Over time, the slow and small over should re-establish an uptrend.”

And that’s about the best take on the situation we have seen in two days.

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Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

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Strong rebound on short-covering, international physical demand