Gold and silver daily Review.

For free COMMODITY TIPS :: click here


MARKET ROUNDUP

U.S. Gold prices hit a one-month high Friday in a flight to quality, as weak jobs data prompted investors to buy gold as an alternative asset.

IN FOCUS

- The world's largest gold-backed exchangetraded fund, SPDR Gold Trust, said its holdings stood at 1286.70 tonnes by Aug. 13, unchanged from the previous business day.

- The world's largest silver-backed exchange-traded fund, the iShares Silver Trust, said its holdings stood at 9151.03 tonnes as of August 13, unchanged from the previous business day.

- Newcrest Mining, Australia's top gold producer reported a record full-year underlying profit on Monday, topping forecasts, and flagged a near doubling in capital spending to develop Australia's largest underground mine.

- Zhongjin Gold said on Monday it planned a private placement of up to 150 million A shares to raise about 4.1 billion yuan ($603.6 million) to buy assets from its parent, state-owned China National Gold Group.

FUNDAMENTAL OUTLOOK

Precious metals prices edged up on COMEX today. We expect gold to extend its upward rally on the back of weakness in dollar against basket of currencies and pessimism about U.S. economy is likely to trigger safe-haven buying in precious metals during the day. Buying at dips is recommended.