All Articles Tagged - gold

Commodities – Gold hovers at one-month high

Posted on July 23, 2013 at 2:24 pm GMT

Gold has made some good gains in the past four weeks, moving off a near three-year low of $1,180 hit on June 28. Gold has since gained over $160 an ounce to reach $1,338 this week. Helping bullion’s rise was dollar weakness. The two assets usually have an inverse price relationship. A softer dollar that made assets priced in the USD cheaper for holders of other currencies. The dollar was sold off last week after the U.S. Federal Reserve Chairman [..]

Commodities News – Gold pauses four-day rally

Posted on July 12, 2013 at 1:09 pm GMT

Gold’s four-day rally has paused on Friday, turning back lower but still on track for t he biggest weekly gain in nearly two years. The rally began on Monday and accelerated after Federal Reserve Chairman Ben Bernanke said late on Wednesday that the Fed will continue with stimulus measures until more improvement in the U.S. labor market. This led investors to change their expectations that the Fed was going to begin scaling back its bond purchase program in September as [..]

Commodities – Gold drops to three-year low below $1,200

Posted on June 28, 2013 at 8:03 am GMT

Gold has tumbled below the key $1,200 level, reaching as low as $1180.11 in early Asian trading hours on Friday. The precious metal has lost over 28 percent in value so far this year, affected by a stronger dollar. The greenback has rebounded as a result of expectations of the Federal Reserve tapering stimulus. Until recently, gold was used by investors as a safe haven asset, to shield their assets from uncertainty in financial markets as well as bold monetary [..]

Commodities – Silver tumbles to 2-1/2 year low

Posted on May 20, 2013 at 8:38 am GMT

Silver prices fell to the lowest level since September 2010 on Monday morning, reaching as low as $20.30 an ounce before steadying at around $21.40, down 4 percent. On the year, the precious metal has fallen 30 percent. Silver held in exchange-traded products dropped to a four-month low on May 17. Weighing on silver are investor concerns that economic growth may be slowing in China, which happens to be the biggest industrial fabricator after the US and thus a huge [..]

Commodities News – Gold gains as ECB continues with loose monetary policy

Posted on May 3, 2013 at 8:24 am GMT

Gold has gained 1.5 percent since the announcement of interest rate cuts by the European Central Bank on Thursday to a record low 0.5 percent. As the president of the ECB, Mario Draghi said the central bank will continue with stimulus measures, this pushed investors to the safe haven precious metal. Analysts have attributed recent strength in gold prices to expectations that central banks across the world are increasingly adopting looser monetary policy and flooding the financial system with money. [..]

Commodities News – Gold prices rebound on weak dollar

Posted on April 29, 2013 at 11:56 am GMT

Gold prices have rebounded from Friday’s sharp dip, climbing steadily in Monday trading to recover most losses. A weak dollar is helping spur buying and buoying the precious metal. The two assets usually have an inverse price relationship. If gold is priced in USD, a weaker dollar makes it cheaper for holders of other currencies to buy gold. Gold prices have climbed over $16 in trading so far today to $ to $1,478.57 an ounce. Since Friday’s low of $1,447, [..]

Forex News – Gold hits 2-year low

Posted on April 15, 2013 at 12:15 pm GMT

Gold fell 5 percent on Monday to hit a two-year low, as a sell off was accelerated by disappointing economic data from China this morning, which showed grwoth in the world’s second largest economy is slowing down. Gold prices tumbled to $1,385.45 in the European trading session today, down from an earlier high of $1,459.03. Since Friday the precious metal has declined 10 percent, and has lost 26 per cent since hitting a record high of $1,920 a troy ounce [..]

US Session – Euro strengthens as European banks repay LTRO loans

Posted on January 25, 2013 at 9:45 pm GMT

The euro edged up even higher during the US session on Friday to hit a new 11-month high against the dollar. Boosting the euro was news that the ECB said European banks will repay more of its loans than what had been forecast. These banks obtained cheap three-year loans from the ECB though the LTRO scheme (Longer-Term Refinancing Operations) which the central bank launched last year in an effort to boost liquidity in the financial system at the height of [..]

US Session – USDJPY breaks above 90.00

Posted on January 24, 2013 at 9:58 pm GMT

A series of upbeat economic data from the US, China and the Euro zone buoyed market sentiment on Thursday, boosting risk currencies as well as US equities and the Standard & Poor’s Index. A slew of positive PMI data gave optimism for global economic recovery, as China’s manufacturing PMI expanded at the fastest rate in two years, and the US preliminary flash PMI rose to a 56.1 in January from 54.0 in December, the strongest rate of growth since March [..]

Commodities – Gold falls for third day

Posted on December 17, 2012 at 9:10 am GMT

Gold price fell in early Monday trading, extending losses for a third straight session as trading volumes were thin ahead of the holiday season. There was little reaction to the latest progress in U.S. fiscal cliff talks. John Boehner, who is the speaker of the House of Representatives, voiced his acceptance to a tax rate increase for the wealthiest Americans. This is a key break in the stalemate in the budget talks. Gold prices are down for the third straight [..]

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