The euro zone should have a bigger rescue fund for member states in trouble, and the European Central Bank should boost its bond buying to prevent the sovereign debt crisis from derailing economic recovery, an IMF report obtained by Reuters said.
A weaker-than-expected US jobs data on Friday forced investors to sell dollars and seek shelter in precious metals, helping silver and palladium post two-digit weekly rise and reach fresh multi-year highs in the week to December 3. An IB times study on gold and dollar index suggests investor interest to sell dollar for buying gold probably increased in the week.
Gold rose almost 2 percent on Friday, ending the week on $1,414 an ounce just a few dollars below the all-time record, as the dollar tumbled after disappointing jobs data cast doubt on the strength of the U.S. economic recovery.
The European Union's permanent rescue fund should be larger than the money available currently and the increase could be made before 2013, Belgian Finance Minister Didier Reynders said on Saturday.
Germany on Saturday categorically denied a British newspaper report that Chancellor Angela Merkel warned Berlin might leave the euro during a heated exchange at a summit of European Union leaders at the end of October.
Football fans needs not worry about securing visas ahead of the 2018 World Cup in Russia as Moscow is planning to scrap the requirement all together for match ticket-holders as well as footballers from the European Union.
The Irish bailout package, so far, has not achieved its two main goals. It failed to restore private investors' appetite for Irish government bonds and stop the debt crisis from spreading to other countries. What went wrong?
Spot Gold jumped over $1400 per ounce in wholesale dealing on Friday in London, holding onto an earlier drop vs. the Euro as the single currency rose sharply on news of weaker than expected US jobs growth in November.
Nissan Motor Co.'s zero emission vehicle and the 100 percent electric car Nissan Leaf was awarded the title of European Car of the Year for 2011. Leaf, thus, becomes the first all-electric car to take the prestigious title.
Europe's reaction to the fiscal crisis and the stabilization fund set up to deal with it must be commensurate to the problems involved, European Central Bank President Jean-Claude Trichet said on Friday.
The U.S. dollar was steady on Friday ahead of payrolls data for November that could show more evidence of a strengthening recovery and give investors a reason to push benchmark U.S. Treasury yields above 3 percent and put more money in equities.
With the current round of [US quantitative easing] set to end in June 2011, and our US economics team now forecasting strong US economic growth in 2011 and 2012, we expect US real interest rates to begin to rise into 2012, says a new bullion report from former investment-bank Goldman Sachs.
Russia and Qatar won the rights to host the FIFA World Cup finals for 2018 and 2022 respectively after FIFA's 22-member panel voted through a secret ballot at Zurich, Switzerland on Thursday.
The FIFA World Cup, the biggest tournament in soccer, will be headed to new regions as Russia won the 2018 bid on Thursday over rivals which included England and tiny emirate Qatar beat a group including the United States for the 2022 tournament.
The European Central Bank (ECB) left the benchmark rates unchanged for the 19th straight month, and said it would extend its longer-term liquidity tenders into the first quarter of 2011
The International Monetary Fund said on Thursday it is in a strong financial position and has the resources to help member countries in need, amid an escalating euro zone debt crisis.
Japan's Nikkei share average hit a five-month high and the euro stayed within sight of overnight highs on Thursday ahead of a European Central Bank meeting that investors speculate could yield new measures to contain the euro zone's fiscal crisis.
France and Germany, the two leading countries of the euro zone, may have intentionally engineered a competitive currency devaluation by pushing private investors to share the burden of future sovereign bailouts.
Spot Gold touched a near 3-week high for Dollar investors above $1396 per ounce in London trade on Wednesday, but slipped back from new record highs in Euros and Sterling as the US currency dipped on the forex market.
Despite the recent frenetic declarations by Prime Minister José Luis Rodríguez Zapatero that Spain does not need a bailout, the bond markets strongly disagree with him as traders continue to unload Spanish (as well as Portuguese and Italian) bonds, driving up the financing costs for the nation’s lenders to all-time highs.
The precious metals were mixed in November, with silver outshining the rest with a 13.6 percent jump, followed by palladium which rose 7.75 percent. Gold managed to end the month with marginal gains of 1.87 percent while platinum fell 2.7 percent from its end-October level.
The force of political will binding together a seemingly crumbling euro zone is still strong, but the imperatives of domestic economic realignments could force members to an exit option, analysts have said; and the road out of the bloc doesn’t exactly look daunting.
