Thursday, April 24, 2014
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Chinese gold imports nearly doubled in 2012. New gold ETF sets up blow-out 2013

China gold

Gold imports into China rose to an all time high last year according to a Bloomberg report. Driven by rising incomes, imports rose from 431.2 tonnes to a 834.5 tonnes according to data from the Census and Statistics Department of the Hong Kong government. Imports in December alone were 114,405 kilograms, a monthly record. Demand is expected to be boosted ... Read More »

Starbucks entering Vietnamese coffee market


Starbucks said Thursday it would open its first store in Vietnam next month, seeking a foothold in the coffee-loving country as part of efforts to expand in Asia. The communist country’s first Starbucks cafe will be in southern Ho Chi Minh City, the US beverage giant said in a joint statement with its local partner, Hong Kong’s Maxim Group. “Vietnam ... Read More »

Oil prices rebound in Asia, Europe woes cap gains


SINGAPORE — Oil prices rebounded in Asian trade Thursday on bargain-hunting but escalating turmoil in debt-wracked Greece and Spain limited gains. New York’s main contract, light sweet crude for delivery in November was up 39 cents to $90.37 a barrel in morning trade after closing overnight below $90 a barrel for the first time since August 2. Brent North Sea crude ... Read More »

Singapore To Be The Asian Bullion Hub With Tax Free Gold And Silver

Gold bars are seen at a jewellery store in Hong Kong

Gold’s London AM fix this morning was USD 1,662.00, EUR 1,271.61, and GBP 1,057.93 per ounce. Yesterday’s AM fix was USD 1,694.75, EUR 1,291.44and GBP 1,082.63 per ounce. Gold fell 1.7% in New York yesterday and closed at $1,676.10/oz. Gold fell in Asia prior to further falls in Europe which has gold now trading at $1,656/oz. Fed Chairman Ben Bernanke offered no ... Read More »

Commodities catch fever on China slowdown


When it comes to the commodities market, if China says it even plans to sneeze, others get a cold. And commodity markets got a fever after Chinese Premier Wen Jiabao lowered the country’s growth target. Although prices recovered slightly on Wednesday after a fall on Tuesday, investors remain cautious that a slowdown of the Chinese economy will cut demand for ... Read More »

China’s Appetite for Overseas Coal Roaring in the Year of Tiger

coal china

Entering the Year of Tiger, enterprises in the world’s largest coal producer, China, are more and more seeking overseas coal. The unexpectedly massive onslaught of snow and ice in the country’s northern reaches has caused coal shortages in the southeast and is strengthening the determination of Chinese firms to go after overseas resources. As transportation from inland mines to the southeast ... Read More »

Gold inches up on weak dollar with eyes on ECB

gold credit suisse

* ECB to launch second 3-year financing operation on Wed * Gold-silver ratio drops to four-month low * Spot gold may rise to $1,797/oz -technicals * Coming up: U.S. consumer confidence, Feb; 1500 GMT SINGAPORE, Feb 28 (Reuters) - Gold inched higher on Tuesday after two sessions of straight losses, ahead of a major cash injection by the European Central ... Read More »

China’s natural gas imports rose 66.7 percent in January

Asian Pipelines

BEIJING, Feb. 26 (Xinhua) — China’s natural gas imports rose 66.7 percent year-on-year to hit 3.6 billion cubic meters in January, the country’s top economic planner said. The rapid increase has further pushed up the share of imported natural gas in the country’s natural gas consumption, the National Development and Reform Commission (NDRC) said in a statement on its website. ... Read More »

S. Korea’s Bahk says higher oil price may drive inflation above target

Bahk South Korea

Feb. 27 (Bloomberg) — South Korean inflation may accelerate above the government’s target on higher oil prices, just as the nation’s economic growth is about to start improving, Finance Minister Bahk Jae Wan said. While inflation is “likely” to dip this month below the 3.4 percent rate in January and be “even lower” in March, instability in the oil market ... Read More »

Iran Said to Offer India Additional Crude Oil Shipments on Revised Terms

iran oil

Iran offered India extra crude supplies on revised terms as international sanctions tighten the Middle East producer’s circle of oil customers, according to three people with knowledge of the talks. Indian refiners have yet to decide on whether they will take up Iran’s offer of additional shipments, the people said, declining to be identified because they aren’t authorized to speak ... Read More »