Gold futures rise to $ 11 of speculation after prices fell earlier.

Gold futures rise to $ 11 of speculation after prices fell earlier.

Gold futures prices due to speculation. After prices fell heavily earlier. Due to the news that the Government of Cyprus to send a signal that the gold reserves sold out.

Thailand at 21.30 am today. Gold futures market COMEX (Commodity Exchange) for June delivery. York. Was up $ 11 or 0.8% to 1,393.70 U.S. dollars / ounce.

Gold futures rebounded after falling hard earlier. After Mr. Haris Cyprus Finance Ministry says Georgian KGB Cyprus plans to sell some gold reserves within the next few months. The sale must be approved by the Central Bank of Cyprus before.

Central Bank of Cyprus has approximately 16.5 tons of gold reserves, and the assessment of the European Commission recently stated that the Government of Cyprus has agreed to sell. "Excess gold reserves" to raise about 400 million euros (542 million dollars) as part of the conditions for receiving financial assistance to deal with the international creditors.

However, when assessing the possibilities. Cyprus is expected to sell 14 tonnes of gold to raise 400 million euros.

In addition to news of Cyprus. Gold prices also fell in the previous session after Goldman Sachs cut its forecast for gold prices in the period of 3 months up to a level of $ 1,615 / oz, from U.S. $ 1,825 / oz. In the 6 months that Goldman Sachs has cut its forecast for gold prices down to a level of $ 1,600 / oz, from U.S. $ 1,805 / oz. And revised forecasts gold prices from 12 months down to a level of $ 1,550 / oz from $ 1,800 / oz.

Lawrence Conference Board U.S. Leading Index March. York. Decline first time in seven months.

Lawrence Conference Board U.S. Leading Index March. York. Decline first time in seven months. 
Conference Lawrence Board, a research organization, global private reveal Leading Economic Index March. York., The U.S. dropped 0.1%, reaching 94.7, down for the first time in seven months, as opposed to the. Analysts expected an increase of 0.1% reflects that the U.S. economy remains in recession.
The Conference Board, Lawrence argues that the factors leading economic index fell in with the wrong expectations. York. Came from the U.S. consumer confidence weakened. The slowing down of orders in the factory and the number of home building permits earlier Reuters / University of Michigan report that Confidence Index, U.S. consumers early April. York. Falling 72.3 which is the lowest in nine months of the year. York.'s 78.6 reflects that consumers plan to cut spending. in the future. It also indicates that Americans concerned about the impact of higher taxes.
The International Monetary Fund (IMF's) economy is expected to grow 1.9% this year before growth at 3.0% next year.

Spain sold 4.7 billion euros of bonds at the bond yield continued to decline.

Spanish authorities said. Spain can raise funds by selling bonds in the amount of 4.7 billion euros today. Than the maximum target set at 4.5 billion euro bond redemption is scheduled for the year 2559 and 2566.

The Spanish 10-year bonds at an average yield 4.612%, down from the auction held on March 21 at 4.898% and 5-year bond yield was at 3.257%, down from last week's auction. at 3.557%.
Investors still have confidence in the Spanish economy. Yesterday revealed that the Spanish Sociological Research. March consumer confidence index. York. Located at 52.1 points, up 1.4 points from the previous month. K. Consumers with a view to improving the current situation.

Confidence that the Spanish can also raise funds in financial markets has continued. By recently. Spanish bond auction of 4.31 billion euros (5.53 billion dollars), while bond yields remained relatively stable. Which reflects that. Crisis in the banking sector of Cyprus hardly affect the confidence of investors towards Spain.

However, Spain's borrowing costs declined in the months to come. Because investors are less concerned since the European Central Bank announced that Spain is ready to assist in resolving the debt if necessary.

However, Moody's Investor Service estimates that the budget deficit of Spain in the year 2556 is 6% of gross domestic product (GDP), higher than the target, the European Union (EU) set out. at the level of 4.5%.

Moody's said in a report called "Spain: Despite Progress in Fiscal Consolidation in 2012, Deficit Targets Remain Elusive in 2013" that the trend of the reliability of Spanish government bonds was placed in the negative. Because Spain still face the ongoing challenge of achieving a reduction in the budget deficit.

U.S. government's Energy Information Agency (EIA) said that U.S. crude fell above expectations in the week ended May 12

U.S. government's Energy Information Agency (EIA) said that U.S. crude fell above expectations in the week ended May 12 

The stock fell 1.23 million barrels of crude oil on the part of analysts expected an increase of 1.2 million barrels.
The stock rose 2.36 million barrels of crude oil, while the stock of gasoline fell 633,000 barrels.
The refining capacity utilization rate fell 0.5% to 86.3%.

IMF's Spanish economy expected to shrink 1.6% in 2556.

IMF's Spanish economy expected to shrink 1.6% in 2556. 

International Monetary Fund (IMF's) predicted that Spain will face a contracting economy and rising unemployment rate this year. 
The MFC is specified in the report. "World Economic Outlook" that the Spanish economy will shrink by 1.6% in 2556 and unemployment rate of the country reached 27% this year before moving down to 26.5% in 2557 which is expected to. growth of 0.7%.
In January. York. IMDb Moffett expects gross domestic product (GDP) of Spain will shrink 1.5% in 2556 and increased to 0.8% in 2557.
New expectations and a more negative outlook for the Spanish economy. Based on predictions about the euro zone economy in general. The IMF's believed to be down 0.3% in 2556 before growing 1.1% in 2557.
The IMF also warned of the risk function of the political instability of Italy's debt crisis and Cyprus. This could cause tension spread throughout Europe.
Forecasts of the IMF's opposition to the government of Spain. GDP is expected to decline 0.5% this year and to grow by 1.2% next year.