Stock Traders Buy High Volume Of Call Options On Freeport-mcmoran Copper & Gold (fcx)

Gold extends gains to 5-1/2 mth high on safe-haven demand

Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $38.88. 19,074,858 shares of the companys stock traded hands. Freeport-McMoRan Copper & Gold has a 52-week low of $26.37 and a 52-week high of $38.09. The stocks 50-day moving average is $32.87 and its 200-day moving average is $34.30.

Customs to ask passengers about source of fund for buying gold

The metal gained 0.8 percent on Tuesday. U.S. gold futures rose over 1 percent to their 5-1/2 month high of $1,364.10. Bullion has gained 13 percent this year following a 28 percent drop in 2013, on escalating uncertainties around the world.

"Wherever possible, the field officer, may ascertain the antecedents of such passengers, source for funding for gold as well as duty being paid in the foreign currency, Mike Dillard person responsible for booking of tickets, etc," it said, adding, the decision is aimed at preventing misuse of the gold import facility. The Customs say that some people are smuggling gold by hiring eligible passengers to import gold on their behalf. The norms have been tightened following "a spurt in import" of gold by eligible passengers through various airports in the recent past across the country. Eligible passengers are allowed to be import gold up to 1 kg by paying 10 per cent customs duty in foreign currency. Eligible passenger means persons of Indian origin or an Indian returning to India after a period of 6 months of stay abroad. Both the government and Reserve Bank had been expressing concern over spurt in gold import following the curbs which were imposed to reduce the widening current account deficit (CAD).