Latest gold and precious metals news

India spot gold edges lower tracking global cues; domestic demand weak (The Forex Market)

MUMBAI (Thomson Financial) - Indian spot gold closed lower on Tuesday, tracking international bullion markets and amid slack domestic demand. At 1.45 p.m. in London, gold was trading at $874, dipping as oil prices moved away from recent highs, easing concerns over rising inflation.

(AFX UK Focus) 2008-05-13 14:10 India spot gold edges lower tracking global cues; domestic demand weak (Interactive Investor)

MUMBAI (Thomson Financial) - Indian spot gold closed lower on Tuesday, tracking international bullion markets and amid slack domestic demand.

Will India Ban Futures Trading in Gold? (Resource Investor)

An umbrella body for bullion traders has sent a memorandum to India's Prime Minister Manmohan Singh and Finance Minister P. Chidambaram asking for an immediate ban on futures trading in gold and silver.

Has the gold price already passed its bottom? (AME Info)

Gold has been in a correction phase since hitting $1,030 per ounce back in March, a new all-time high. A US dollar rally and profit taking sent the gold price back below $850. But bullion analysts are already beginning to think that this marked the bottom of this correction.

Gold falls on reduced demand (Business Standard India)

Gold prices fell by Rs 30 to Rs 12,070 per 10 grams in the bullion market here today on reduced offtake amid weak global trend. Marketmen said sluggish demand against adequate supply and reports of weak global markets mainly led to decline in gold prices.

(AFX UK Focus) 2008-05-13 08:44 India Bullion - Opening Prices (Interactive Investor)

MUMBAI (Thomson Financial) - In Indian Rupees Tuesday Monday's close Gold per 10 grams (.995) purity 12,000 11,995

Gold Futures Slip; Dollar Is Mixed (TheStreet.com)

Benchmark bullion futures are down $6.10 at $879.70 an ounce.

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Other gold, silver and precious metals news

PRECIOUS METALS: NY Silver Above 20-Day Avg, Outperforms Gold (INO News)

Silver futures outperformed gold Monday with the help of favorable technicals, a softer dollar and a gold/silver spread "come back into line" after gold had outperformed last week, traders and analysts said.

Kitco Precious Metals and Economic Review - Platinum and Rhodium Brought Strong Performance (Kitco.com)

Gold’s London PM Fix edged up over the course of the week.

Gold Seeker Closing Report: Gold and Silver Gain Over 1% (GoldSeek.com)

Gold fell nearly $5 to as low as $865 by late trade in Asia, but it then rose throughout most of the rest of trade in London and New York and ended near its high of $885.60 with a gain of 1.24%. Silver fell to $16.44 and rose to $16.895 before it closed with a gain of 1.02%.

Gold Investments Market Update (GoldSeek.com)

After last week’s more than 3% gain in gold, gold surged to nearly $890.00 in early trading in Asia prior to succumbing to subsequent profit taking. The London AM Gold Fix at 1030 GMT this morning was at $887.25, £453.91 and €573.60 (from $863.50, £434.64 and €556.74 on Friday).

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain About 3% on the Week (GoldSeek.com)

Please Note: There will be no Gold Seeker Reports next Monday and Tuesday as GoldSeek attends the New York Hard Assets Investment Conference . Please drop by our table and say hi!

South Africa: Bet On Gold to Catch Up With Oil in the Price Steeplechase (AllAfrica.com)

THE race is on again between the prices of oil and gold. Oil is in the lead, but my gut-feel is that gold is ready to move up.

Gold Falls in London as Dollar Advances; Platinum Declines (Bloomberg.com)

May 7 (Bloomberg) -- Gold fell in London as the dollar rose against the euro, diminishing the metal's appeal as a hedge against declines in the U.S. currency. Platinum also slipped.

Gold Seeker Closing Report: Gold and Silver End Off Their Lows With Roughly 1% Losses (GoldSeek.com)

Gold rose to $878.60 in Asia before it fell over 1% to as low as $863.55 by late morning in New York , but it then rallied back higher into the close and ended with a loss of just 0.78%. Silver rose to $16.89 and fell to $16.45 before it also rallied back higher into the close and ended over 1% off its low with a loss of just 1.1%.

Metals & Mining Analysts' Ratings & Estimates (Kitco.com)

Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets.

Sukhoi Log tender rules to be known by end 2008 - agency (Part 2) (Interfax)

IRKUTSK. May 13 (Interfax) - The conditions for a tender for the rights to the giant Sukhoi Log gold field in Russia's Irkutsk region will be known by the end of this year, Nikolai Suslov, deputy head of Irkutsknedra, which is the region's branch of the federal subsurface resources agency (Rosnedra), told reporters.

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