TruthInGold''Dollar is not your friend''

It didn’t take much to bring beleaguered gold traders back from the brink. Jitters in Japan and fear over the Fed have stoked a reversal in gold that follows a seven month, 25% slump. While the most widely traded metal is still only about $25 away from the two and a half year low it [...]

Trading in gold using the Chinese currency has tripled in Hong Kong this year as the yuan’s rally to a 19-year high helps limit risks for jewelers. Average daily volume was 6.5 billion yuan ($1.1 billion) in the first five months of this year, compared with 1.8 billion yuan for the same period in 2012, [...]

Hedge funds are making the biggest bet ever against gold prices, signaling continued volatility for the metal after prices entered a bear market last month. The chart shows that gains in so-called short contracts are usually followed by increases in a gauge of price swings for the SPDR Gold Trust, the biggest bullion-backed exchange-traded fund. [...]

London-listed gold producer Petropavlovsk has said it will pre-sell 55pc of its future output planned for the second quarter of 2014, at an average price of $1,408 an ounce. This is the first time that a big producer has hedged more than half its future sales. “We have a huge investment programme and thought a [...]