Real Estate Demand in Caribbean Heating Up

English: West Bay Beach, Roatan, Honduras.

Roatan, Honduras. (Photo credit: Wikipedia)

Based on figures from the CBO and the Joint Committee on Taxation, federal taxes will increase by a total of $423 billion in 2013 if the Bush-era tax cuts are allowed to expire. According to the Associated Press, the increase in taxes will be the largest since 1942.

In light of this, for those looking to secure their funds offshore and control their own spending, the newest development on Roatan, Crystal Sands Villas, may be the answer.

Amy Murphy, a realtor with Russ Lyon Sotheby’s International Realty in Scottsdale, Arizona, has experienced an influx of buyers seeking to purchase homes in the Caribbean – with a 70% surge in inquiries since the election.

As the owner of her own Caribbean property on the island of Roatan off the coast of Honduras, Amy has first-hand experience of this offshore buying trend.

Since the late 1990s, the value of her property has rocketed from $38,000 to $250,000, a growth trend which is tempting more buyers to invest before taxes rise.

Amy said: “In 2012, the Wall Street Journal, Kiplinger’s and International Living each designated the island of Roatan – along with the Cayman Islands – as among the top destinations for retirees in the world.

“Roatan distinguishes itself by offering full-service spas, world-class golf, dining and shopping all at reasonable prices.  It’s a haven for anyone looking for an affordable and peaceful island lifestyle and it’s appealing for Americans who don’t want to give money to governments, agencies and programs they do not endorse.

“Many buyers looking to invest money in this market believe that entrepreneurs and families should be able to control their own spending, without being forced to fund an overly deficit US Government.”

The newest development on Roatan is an exclusive community in the pristine area of Turquoise Bay.  Called Crystal Sands Villas, the properties consist of eco-friendly designer villas on one of the last unspoilt white sand beaches in the Caribbean. Each luxury property will enjoy 24-hour gated security with concierge service, spa, marina and medical services, all with stunning views of the Caribbean Sea and the Mesoamerican Barrier Reef – the second largest reef in the world.

Amy continued: “Prices to buy into this idyllic and secluded Caribbean community will increase 25% in January, with building commencing next summer.  The investment potential is huge, especially as the year-end approaches.

“With land appreciation in Roatan averaging at around 13.5 percent each year over the past decade, anyone buying into the development now could look to sell in several years, potentially earning a significant return,” she continued.

“As this luxury community becomes more established, a greater number of people with wealth and a desire to escape from the stress and politics of urban life will want to buy into it.

“My advice to anyone wanting to make a move is to take advantage of securing their funds offshore before taxes rise and begin living a life of beaches and beauty on a tropical paradise like Roatan.”

Discover more about property and investment opportunities in Roatan Honduras now:

www.roatanluxuryestates.com or contact Amy Murphy at amy@roatanluxuryestates.com

CONTACT: Press, Miki Haines-Sangor, +44 7900 690 574, miki@goldengoosepr.com

Web Site: http://www.crystalsandsvillas.com

Clopton Capital, a commercial mortgage provider based in Chicago, is forecasting no increase or measurable change in commercial mortgage interest rates in 2013. This prediction is based on numerous factors including political, economic and proprietary to the commercial mortgage industry. “Via direct conduits, current commercial mortgage interest rates are at best, in the neighborhood of 3%. This make borrowing commercial capital incredibly cost effective and advantageous and we are pleased to state that these commercial mortgage interest rates will likely continue to exist throughout next year”, said Jake Clopton, the founder of Clopton Capital.

The firm states that if sudden or unprecedented borrowing costs were to increase, whether this be transactional costs or simply an increase in interest, the firm will be swift in notifying their prospects, clients and the general public. “If commercial mortgage interest rates were to somehow soar suddenly, we would immediately draft a mass email to our clients and issue a press release explaining why this has happened, what is means for our clients and what we intend to do to adapt to the issue as a firm”, said Jake Clopton.

Clopton Capital intends to continue utilizing commercial mortgages in 2013 as their primary mechanism for funding new and existing commercial real estate projects. Commercial real estate owners and business owners are encouraged to visit CloptonCapital.com for more information about commercial loan options available presently.

Bull and Bear of the Day by Zacks

NYSE on Wall Street

NYSE on Wall Street (Photo credit: Wikipedia)

Zacks Equity Research highlights Weyerhaeuser Co. (NYSE:WY) as the Bull of the Day and NYSE Euronext, Inc.’s (NYSE:NYX) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Brinker International, Inc. (NYSE: EAT ), Darden Restaurants Inc. (NYSE: DRI ) and Ruby Tuesday Inc. (NYSE: RT ).

Full analysis of all these stocks is available at http://at.zacks.com/?id=2678.

Here is a synopsis of all five stocks:

Bull of the Day:

We have upgraded our recommendation on Weyerhaeuser Co. (NYSE:WY) from Neutral to Outperform based on the high growth the company has achieved, reducing total costs and increasing prices. Also, the company is making an earnest effort to reduce its debt and maintain a healthy debt to equity ratio.

The company’s earnings increased a whopping 83% year over year in the third quarter to $0.22 per share. The sales also soared 12.9% year over year to $1,772 million. Operating profits escalated 102% and long-term debt decreased 7.9% year over year. Backlog for Real Estate remains solid.

Our long-term Outperform recommendation on the stock indicates that it will beat the broader U.S. market over the next six to twelve months. Our target price is $32.00 based on 2012 P/E of 68.1x.

Bear of the Day:

NYSE Euronext, Inc.’s (NYSE:NYX) third quarter earnings breezed past the Zacks Consensus Estimate but plunged year over year based on weak volumes and pricing across trading venues, which led to a reduced top line and lower operating margin. A low cash position and high debt raised the concerns of rating agencies.

NYSE has a bigger debt burden compared to its prime peers, which poses a competitive threat to the fundamental growth of the company. Higher debt and lower working capital in the first half of 2012 also impelled ratings agency S&P to downgrade its outlook to negative from stable, in August 2012.

Our six-month target price of $22.00 equates to about 11.7x our earnings estimate for 2012. With an annual dividend of $1.20, this price target implies a negative total return of 6.9% over that period. This is consistent with our long-term Underperform recommendation on the shares.

Latest Posts on the Zacks Analyst Blog:

CEO Transition for Brinker

Doug Brooks, the Chief Executive Officer (CEO) and President of Brinker International, Inc. (NYSE: EAT ) recently announced his intention to step down from the post effective December 31, 2012. Concurrently, the company also announced Wyman Roberts as his successor, who will take over the reins effectively from January 1, 2013.

Doug Brooks joined Brinker 35 years ago as a manager. His tenure oversaw the increase from a modest three restaurants in one state to 1,585 restaurants globally, generating around $2.8 billion of revenue annually. To ensure a successful transition of leadership to Roberts, Brooks will continue to serve as chairman of the board of the company through December 2013.

Wyman Roberts has been associated with Brinker since August 2005. Currently, he is the President of Brinker’s brand Chili’s Grill & Bar. However, he will retain this position along with the new responsibilities. He has previously served Brinker as Chief Marketing Officer and President of Maggiano’s Little Italy brand.

Prior to joining Brinker, Roberts served NBC’s Universal Parks & Resorts as Executive VP and CMO and contributed to growth of the company’s market share and revenues. Apart from this, he has held several senior level positions over 17 years at Brinker’s peer company – Darden Restaurants Inc. (NYSE: DRI ) .

With his vast know-how and expertise over 20 years in the restaurant industry, Roberts can easily be tagged as a veteran in this sector. With  proven strategy development, operation, finance and brand building background, we expect him to provide meaningful support to Brinker. Roberts’ contribution to growth of Chili’s Grill & Bar has been noteworthy. Total sales at Chili’s Grill & Bar restaurant surged 2.7% year over year in the most recent quarter and comparable restaurant sales at the brand climbed up 2.8% for the sixth consecutive quarter.

As a point of reference, several restaurant peers of Brinker have recently seen significant management changes. The founder and CEO of Ruby Tuesday Inc. (NYSE: RT ) , Sandy Beall, announced his intention to bow out from management and the Board.

Get the full analysis of all these stocks by going to http://at.zacks.com/?id=2649.

About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.

About the Analyst Blog

Updated throughout every trading day, the Analyst Blog provides analysis from Zacks Equity Research about the latest news and events impacting stocks and the financial markets.

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Zacks Lists 5 Stocks to Sell Now

NYSE

NYSE (Photo credit: Wikipedia)

Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List – Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): Cummins Inc. (NYSE:CMI) and Impax Laboratories Inc (NASDAQ:IPXL). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: E I Du Pont De Nemours And Co (NYSE:DD) and Chemtura Corporation (NYSE:CHMT).

To see the full Zacks #5 Rank List – Stocks to Sell Now visit: http://at.zacks.com/?id=92

Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List of Stocks to Sell Now by 80% annually (+2% vs. +10%). While the rest of Wall Street continued to tout stocks during the market declines of the last few years, Zacks told investors which stocks to sell or avoid.

Here is a synopsis of why CMI and IPXL have a Zacks Rank of #5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the stocks in the Zacks Rank universe:

Cummins Inc. (NYSE:CMI) announced third -quarter profit of $1.78 per share on November 5, which came behind the Zacks Consensus Estimate by 6 cents. The diluted earnings per share also fell by 19.09% on a year-over-year basis. The Zacks Consensus Estimate for the current year slipped 18 cents per share to $8.43 in the last 30 days. Next year’s estimate also dipped 32 cents per share to $9.05 per share in that time span.

Impax Laboratories Inc (NASDAQ:IPXL) posted a third -quarter profit of 48 cents per share on November 6, which came in 2 cent wider than the average forecast. The Zacks Consensus Estimate for 2012 fell to a profit of $1.80 per share from $2.05 over the past month with 11 out of 13 covering analysts slashed forecasts. Next year’s forecasts slipped 70 cents to $1.41 per share in the same time span.

Here is a synopsis of why DD and CHMT have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks;

E I Du Pont De Nemours And Co (NYSE:DD) third-quarter profit of 44 cents per share, posted on October 23, lagged analysts projections by nearly 4.35%. For 2012, the Zacks Consensus Estimate moved down 64 cent in the last 30 days as 7 out of the 12 covering analysts cut back on forecasts. The forecast for next year slid 63 cents to $3.72 per share in the same time span.

Chemtura Corporation (NYSE:CHMT) reported a third-quarter profit of 35 cents per share on November 6, that fell 2.78% short of the Zacks Consensus Estimate. The full-year average forecast is currently pegged at $1.44 per share, compared with the last 30 days projection of $1.52. Next year’s forecast dropped 11 cents per share in the same period.

Truly taking advantage of the Zacks Rank requires the understanding of how it works.  The free special report; “Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions” is available to provide this insightful background. Download a free copy now to prosper in the years to come at http://at.zacks.com/?id=93

About the Zacks Rank

Since 1988, the Zacks Rank has proven that “Earnings estimate revisions are the most powerful force impacting stock prices.” Since inception in 1988, #1 Rank Stocks have generated an average annual return of +28%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have significantly underperformed the S&P 500 (2.8% versus +9.7%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Zacks “Profit from the Pros” e-mail newsletter offers continuous coverage of Zacks Rank Buy stocks and highlights those stocks poised to outperform the market. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=94

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Len Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros.  In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=95

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Disclaimer:  Past performance does not guarantee future results.  Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

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Zacks Investment Research
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Credit Union Offering Zero Down Mortgages

Navy Federal Credit Union, announced this week its October mortgage closings surpassed $1 billion. This is a record and a coupe for Navy Federal at a time when the REALTOR® Confidence Index (RCI)1,reports that consumers face “tight credit conditions” and challenges in getting loan dollars from lenders. In fact, year-to-date, Navy Federal has made more than $8.3 billion in mortgage funds available to its members.

So, how is it possible for Navy Federal Credit Union to report such substantial mortgage gains, despite a national lending squeeze? Jack Gaffney, executive vice president, Lending, asserts it’s by having both the will and the way to lend.

“Having ample products, competitive rates and specials like offering to pay up to $2500 in closings costs are a must in matching members to mortgages that suit their budget. But by far, being able to offer a “no money down” option is a difference maker,” says Gaffney.

The credit union is one of the few lenders in the market still offering a 100% financing alternative for purchasing a home. The Navy Federal Homebuyer’s Choice Mortgage pulled in $416 million year to date, and the credit union projects near $10 billion in total mortgages booked by year-end.

“For us, huge mortgage success means that we’ve put thousands of families in new homes or placed them securely in their current ones,” says Gaffney, “and, that we’re doing absolutely everything we can to find the exact right mortgage or refinance option to fit our members’ needs. Making homeownership possible is a privilege.”

About Navy Federal Credit Union: Navy Federal Credit Union is the world’s largest credit union with $50 billion in assets, four million members, 227 branches and a workforce of over 10,000 employees worldwide. The credit union serves all Department of Defense military and civilian personnel and their families. For additional information, visit www.navyfederal.org.

1 According to data from the REALTOR® Confidence Index (RCI), September 2012 Edition
http://www.realtor.org/sites/default/files/reports/2012/realtors-confidence-index-2012-10-report.pdf

Contact: Jeanette Mack
Manager, Corporate Communications
Phone: (703) 255-8792
E-mail: jeanette_mack@navyfederal.org

Web Site: https://www.navyfederal.org

Online Loans for Consumers with Low Credit Scores

English: Online Loans Today, All Loans in One ...

Online Loans Today, All Loans in One Place (Photo credit: Wikipedia)

LoansForPoorCredit.net announces the launch of its new 3-in-1 approach for capturing the best options and deals for personal loans for bad credit.

For a high number of American consumers who are classed as having bad credit, many are led to believe that it is hard to secure loans with low credit scores or missed past payments. While this was previously the case, many loan companies now specifically cater towards these consumers who are underserved by banks. LoansForPoorCredit is partnered with many such lenders and can provide the crucial introductory link between these companies and consumers in need of their loan products.

LoansForPoorCredit is a free search, comparison and application platform that brings together the best of the online loans for bad credit world, on one convenient site. Its service is available for free and can lead to cash being paid into an applicant’s bank account within one hour in the fastest case scenario.

A spokesperson for LoansForPoorCredit made the announcement.

“LoansForPoorCredit has launched its time-efficient, easy to use 3-in-1 service for finding, comparing and applying for poor credit personal loans online. The service is accessible 24 hours a day from any computer and allows individuals to get a really good picture of what loan products can be made available to them, from many different companies.”

On the topic of choice, the spokesperson added, “The adverse credit loan market is thriving with many great deals. There is a lot more choice out there than people realize. A bad credit loan can and should be competitive, at good rates and fast. We can help individuals find the best loans for them and give consumers the chance to make their own minds up, without commitment, before deciding to accept a loan.”

The online application takes 90 second to complete and provides enough information for loan companies to potentially approve loans of varying amounts. As LoansForPoorCredit is an online operation, there are no paper forms to complete, no faxes to send and, most notably, no credit scoring to withstand. All information provided in the form is confidential and secure.

Learn more: http://www.loansforpoorcredit.net/frequently-ask-questions
Apply at: https://www.loansforpoorcredit.net/apply-now

Contact:
Sam Milo
786-3199951
ilogicltd@gmail.com

Web Site: http://www.loansforpoorcredit.net

Florida Real Estate Prices Heading North

Pending sales, closed sales and median prices rose, while the inventory of homes and condos for sale dropped in Florida’s housing market in October, according to the latest housing data released by Florida Realtors®.

“With Thanksgiving just around the corner, we have a lot to be thankful for here in Florida,” said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “The state’s latest unemployment rate fell to 8.5 percent, the lowest in nearly four years – and combined with the momentum of the housing market, it clearly shows that Florida is on a positive path and has been for months. Pending sales, closed sales and prices are trending up.”

Statewide closed sales of existing single-family homes totaled 17,779 in October, up 25.3 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. Closed sales typically occur 30 to 90 days after sales contracts are written.

Meanwhile, pending sales – contracts that are signed by not yet completed or closed – of existing single-family homes last month rose 56.7 percent over the previous October. The statewide median sales price for single-family existing homes in October was $145,000, up 9 percent from a year ago.

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in September 2012 was $184,300, up 11.4 percent from the previous year. In California, the statewide median sales price for single-family existing homes in September was $345,000; in Massachusetts, it was $294,900; in Maryland, it was $244,357; and in New York, it was $225,000.

The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.

Looking at Florida’s year-to-year comparison for sales of townhomes-condos, a total of 8,252 units sold statewide last month, up 16.4 percent compared to October 2011. Meanwhile, pending sales for townhome-condos in October increased 47.1 percent compared to the year-ago figure. The statewide median for townhome-condo properties was $107,000, up 20.2 percent over the previous year. NAR reported that the national median existing condo price in September 2012 was $181,000.

The inventory for single-family homes stood at a 5.2-months’ supply in October; inventory for townhome-condo properties was also at a 5.2-months’ supply, according to Florida Realtors. Industry analysts note that a 5.5-months’ supply symbolically represents a market balanced between buyers and sellers.

“Once again, everything that should be going up in the market is going up, and everything that should be going down is going down,” said Florida Realtors Chief Economist Dr. John Tuccillo. “As impressive as the year-over-year gains for October are, far more impressive are year-to-date gains of 2012 over 2011. They indicate the depth and resilience of this recovery.”

The interest rate for a 30-year fixed-rate mortgage averaged 3.38 percent in October 2012, down from the 4.07 percent averaged during the same month a year earlier, according to Freddie Mac.

To see the full statewide housing activity report, go to Florida Realtors Media Center at http://media.floridarealtors.org/ and look under Latest Releases, or download the October 2012 data report PDF under Market Data at: http://media.floridarealtors.org/market-data

Editor’s Note : Florida Realtors 2012 housing market data releases mark a new statewide data reporting partnership between Florida Realtors Industry Data and Analysis department and new vendor partner 10K Research and Marketing. Housing sales data from the state’s local Realtor organizations is collected and organized with the goal of providing unique, localized market reports to the local Realtor boards and associations within Florida Realtors, enabling the groups and their Realtor members to serve as the definitive voice of real estate in their respective local markets. At the same time, Florida Realtors is providing comprehensive statewide housing market statistics – but this new data series only refers to statewide data and does not include metropolitan statistical areas (MSAs).

Florida Realtors®, formerly known as the Florida Association of Realtors®, serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 115,000 members in 63 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org .

CONTACT: Marla Martin, Communications Manager, +1-407-438-1400 ext. 2326; or Jeff Zipper, Vice President of Communications, +1-407-438-1400, ext. 2314

Web Site: http://www.media.floridarealtors.org

City Index Group

FX Solutions LLC, a leading retail foreign exchange (forex) dealer and part of the City Index group of companies, today announced the launch of capped variable pricing for its U.S. customers.*

The new pricing is available on the MetaTrader4 (MT4) and GTS trading platforms across 28 forex pairs.  Customers can trade on spreads as low as 0.8 pips on EUR/USD and 1 pip on GBP/USD, USD/JPY and AUD/USD.

The pricing aims to move in sync with the underlying market, potentially providing tighter spreads as liquidity improves.  A ‘cap’ or ‘limit’ is placed on the spread with the intent of restricting it from widening more than the listed cap level.

In the opinion of FX Solutions, the ‘cap’ provides advantages over other variable spread providers, whose spreads, without a ‘cap’, can widen excessively around economic events.  Using Capped Variable Pricing, FX Solutions customers can trade more efficiently with potentially lower spreads.

Capped Variable Pricing is the latest addition to FX Solutions’ U.S. offering and follows the expansion of its market analysis and forex education capabilities with the recent appointment of Chief Technical Strategist, James Chen.

To find out more about FX Solutions, please visit www.fxsolutions.com.

About FX Solutions

FX Solutions is a leading foreign exchange broker with a focus on advanced trading technologies, transparency of trading and customer service. To learn more about FX Solutions, please visit www.fxsolutions.com.

Forex trading involves a substantial risk of loss and may not be suitable for all investors.  FX Solutions is compensated through a portion of the bid/ask spread.

* While we strive to offer capped pricing (spreads) at all times, there may be occasions where a significant market or world event may force us to widen spreads beyond the caps without prior notice. The last time spreads were widened beyond set levels was February 2009. NZD/USD widened from 5 to 7 pips. Spreads vary based on market conditions, including volatility, liquidity and other factors. The minimum spreads referenced herein are intended to occur periodically in normal market conditions on select currency pairs. The spreads you experience throughout a day will differ.

CONTACT: Michelle Welk, +1-609-750-9114, mwelk@sspr.com

Web Site: http://www.fxsolutions.com

Gold Prices Dip Lower

Polski: Sztabka złota ważąca 12,5 kg. Własność...

Gold Prices(Photo credit: Wikipedia)

Global gold demand in Q3 2012 was 1,084.6 tonnes (t), down 11% from the record Q3 2011 figure of 1,223.5t.   This dip in demand is in comparison with exceptional demand in Q3 last year. Gold demand remains resilient. Q3 2012 was above the five year quarterly average of 984.7t, according to the World Gold Council’s Gold Demand Trends Report.

In value terms gold demand was 14.0% lower year on year at $57.6bn and the average gold price of $1,652/oz was down 3% on the record average Q3 2011 price.

The key findings from the report are as follows:

  • Global investment in ETFs over the quarter was up significantly by 56% on the previous year.
  • The Indian market is showing signs of recovery, up 9% to 223.1t from 204.8t in Q3 2011 following increases in both jewellery and investment demand. In comparison with Q3 2011 jewellery demand was up 7% to 136.1t and investment demand rose by 12% to 87.0t. Investors moved into the imitation coin market*, up 59%, whilst jewellery increased due to re-stocking ahead of the Indian wedding and festival season. Indians appear to have acclimatised to recent price trends and have been buying into a rising market.
  • In China  demand fell 8% to 176.8t in Q3 2012 from 191.2t in Q3 2011 due to falls in jewellery of 6% and investment of 12% mainly as a result of negative sentiment surrounding China’s slowing economy.  Jewellery demand was 123.8t in Q3 2012, due to a decline in purchases of 18k pieces and a notable slowdown in the expansion of the retail network, as stock-building reduced. Investment demand was down to 53.0t Demand this quarter remains 19% above the longer term average.
  • Central banks bought 97.6t in the quarter. In six out of the last seven quarters, central bank demand has been around 100t, which is a sharp increase from as recently as 2010. The year to date figure for central bank buying is up 9%.

 

Marcus Grubb, Managing Director, Investment at the World Gold Council said:

“Gold is beginning to re-establish itself as part of the fabric of the financial system. In the medium term, the quantitative easing initiatives in the West and the continuing growth story in the East, particularly in India and China, coupled with the seasonally strong quarter coming up in Asia, are excellent indicators for further growth in the gold market.

“Against a backdrop of continued global economic uncertainty and elections in China and the US, it is clear from five year rising demand trends that gold’s fundamental property as a vehicle for capital preservation continues to endure, as evidenced by this quarter’s increase in global ETF investment, up 56% and continued purchasing by central banks, the ultimate long term investors.”

Gold demand and supply statistics for Q3 2012:

  • Third quarter gold demand of 1,084.6t was down 11.0% in comparison to Q3 2011.
  • The value measure of gold demand was 14.0% lower year on year at $57.6bn.
  • The average gold price of $1,652/oz was down 3% on the record average Q3 2011 price.
  • Investment demand (the sum of ETFs and total bar and coin demand) was 429.9t, down 16% compared to the same quarter last year, but was 23% above the five year average.
  • Demand for ETFs and similar products in Q3 was up by 56.0% on the previous year to 136.0t.
  • Demand in the jewellery sector was down 2.0% to 448.8t compared to 458.0t in the same quarter in 2011. The ongoing slowdown in China continued to dampen demand in the second largest regional jewellery market
  • Third quarter demand for gold in the technology sector was down on Q3 2011 by 6.0% at 108.0t though remains stable. Use of gold in electronics has shown a steady level of incremental growth since Q4 2011, driven by demand for tablet devices and mobile phones among others.
  • Both the supply of gold and recycling were down 2% in the third quarter compared to year earlier levels, with mine production down 1% for Q3 2012.

 

The Q3 2012 Gold Demand Trends report, which includes comprehensive data provided by Thomson Reuters GFMS, can be viewed at: http://www.gold.org/media and on our new iPad app which can be downloaded from http://www.itunes.com and a video can be seen here.

Note to editors:

*Imitation coin market in India

In India an imitation coin is the term used to describe a round medallion bought for savings or gift purposes. These coins are generally rectangular, oval or round shapes and more than 50% are expected to be exchanged for jewellery over time. Demand tends to be seasonal, sold mainly during the marriage seasons and at festivals, especially at the time of Diwali.

World Gold Council

The World Gold Council is the market development organisation for the gold industry. Working within the investment, jewellery and technology sectors, as well as engaging in government affairs, our purpose is to provide industry leadership, whilst stimulating and sustaining demand for gold.

We develop gold-backed solutions, services and markets, based on true market insight. As a result, we create structural shifts in demand for gold across key market sectors.

We provide insights into the international gold markets, helping people to better understand the wealth preservation qualities of gold and its role in meeting the social and environmental needs of society.

Based in the UK, with operations in India, the Far East, Europe and the US, the World Gold Council is an association whose members include the world’s leading and most forward thinking gold mining companies.

CONTACT: For further information please contact: Melissa McVeigh, World Gold Council, T +44(0)207826-4754, Emelissa.mcveigh@gold.org; Giles Abbott, Capital MSL, T +44(0)20-7307-5340, E giles.abbott@capitalmsl.com

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