All the signs of a gold boom were visible at the venue of the India International Jewellery Show (IIJS) in Mumbai this week. Even as India gets ready for ushering in the festival season with Raksha Bandhan on August 24, the IIJS provided a perfect start for the gold market in the country.
U.S. crude oil prices hovered below $75 a barrel and near six-week lows after weak U.S. economic data this week raised doubts about the top oil-consuming nation's ability to work through the most ample petroleum inventories in two decades.
Japanese Finance Minister Yoshihiko Noda said on Friday his ministry is communicating with other Group of Seven nations on currencies amid concern the strong yen will further dent the country's slowing economy.
The dollar steadied against the yen on Friday but stayed within reach of a 15-year trough hit last week, after weaker U.S. data prompted investors to sell higher-yielding currencies and stocks on risk aversion.
Crude was steady near a six-week trough below $75 a barrel, after weak U.S. economic data signaled the world's top oil-consuming nation will struggle to work through the most ample petroleum inventories in two decades.
Gold rose on Friday, holding near a 1- month high hit the previous day as worries about a deepening U.S. economic slowdown escalated and helped push up holdings in the ETF for the third consecutive day.
Gold extended gains in Asian trade Friday as its appeal as a safe haven asset soared on reports of deepening U.S. economic concerns.
Gold for immediate delivery was seen trading at $1232.18 an ounce at 12 noon Singapore time while US gold futures for December delivery was at $1,235.47 on the comex division of Nymex.
Asia's time has come as far as bullion market is concerned. Now, London's Dominance of gold bullion dealing worldwide faces a major challenge in the fast-rising Asian jewelry and investment markets.
Kerala-based non-banking finance company, Manappuram General Finance & Leasing, is planning to raise around Rs 1,000 crore through a qualified institutional placement (QIP) in the third quarter of the fiscal.
The Australian Dollar endured a lack lustre session during Asian time yesterday with the little battler limited to a 35 pip range.
The Australian Dollar has opened lower this morning, falling back through USD0.8950 overnight following some disappointing US data releases.
The frail U.S. economy was dealt fresh setbacks as new U.S. jobless claims scaled a nine-month high last week and Mid-Atlantic factory activity contracted in August for the first time in more than a year.
Sterling interbank borrowing costs slid for the ninth successive session on Thursday, tracking falls in dollar and euro fund costs, as lenders took the view that the Bank of England will keep policy rates low.
Three-month funds edged lower GBP3MFSR= to 0.72688 percent from 0.72744 percent the previous day.
Gold prices rose to a seven-week high at $1,234.55 an ounce on Thursday after data showed new U.S. claims for unemployment benefits unexpectedly hit a nine-month high last week, pressuring the dollar.
Oil rose toward $76 on Thursday, boosted by a rally in equity markets in Asia and Europe on expectations of strong economic growth in China and Germany.
Shares in Hong Kong and Shanghai climbed, with resources companies outperforming the broader market as news of mega-mergers also whetted risk appetite in the sector.
ETF Securities said ETFS Physical Swiss Gold Shares had a record day's trading volume on August 11 of 1.74 million shares, or $208 million. This represents the greatest one-day volume since its first US trading day on September 9, 2009.
Oil prices remained highly volatile in Asian trade Thursday as strong dollar and US crude inventories offset equity gains in the region.
Light sweet crude for September delivery was seen trading at $75.54 a barrel at 12.00 noon Singapore while Brent crude was at $76.31 a barrel in London.
Russian grain imports are likely to soar after the country's worst drought in more than a century damaged its harvest and forced it to ban exports, analysts said on Thursday.
Analysts estimate that Russia, usually a major grain exporter, may have to import 1.5-2.2 million tonnes this year after the worst drought in more than a century damaged its harvest, but a report in Vedomosti daily said Russia could import at least 5 million tonnes of grain this year.
Gold prices rose toward $1,230 an ounce in Europe on Thursday, close to the previous session's near seven-week high, as concerns over the outlook for economic growth supported investment demand for the precious metal.
Oil rose to over $76 on Thursday, boosted by a rally in Asian equities as investors focused on the prospects for accelerating Chinese demand for natural resources.
U.S. September crude climbed 19 cents to $75.61 a barrel at 0822 GMT (4:22 a.m. EDT), having earlier risen as high as $76.08. ICE Brent rose 35 cents to $76.82.
The yen dipped against the dollar on Thursday as jitters about whether Japanese authorities would take new steps to rein in the yen's rise left investors reluctant to chase it higher.
Investors are watching to see if the central bank will take more monetary easing steps -- such as expanding liquidity -- ahead of a meeting between Prime Minister Naoto Kan and Bank of Japan Governor Masaaki Shirakawa expected on Monday.
Gold prices remained vulnerable in Asian trade Thursday despite advanced marginally in early trade.
Gold for immediate delivery was seen trading at $1229.02 an ounce at 12.00 noon Singapore time while US gold futures for December delivery was at $ 1231.45 an ounce on the comex division of Nymex.
Gold edged up on Thursday, to just short of its highest since the start of July, as volatile equities and concerns about the global economy spurred buying from investors, but selling from jewelers capped gains.
Oil was under pressure on Thursday from a stronger dollar and brimming U.S. petroleum inventories, while modest gains in Asian equities provided support to a market focused on the prospects for economic growth.
The dollar edged up against the yen on Thursday with investors reluctant to chase the yen higher as they waited to see if the Bank of Japan or the government will take new steps to rein in the yen's rise.
Earlier, rumours had circulated in the market that the BOJ would hold an emergency policy meeting at 2 p.m. (0500 GMT). That followed a media report that the central bank had started considering additional monetary easing steps.
The Northeast region of the U.S., represented by the New England and Central Atlantic regions shown in Figure 1, typically account for over 80 percent of U.S. heating oil sales. As shown in Figure 2, the top 5 consuming States, in rank order, are New York, Massachusetts, Pennsylvania, Connecticut, and New Jersey. Heating oil is a distillate fuel, coming from the same boiling-range portion of crude oil as diesel fuel. However, unlike diesel fuel used in transportation, heating oil has no Federal...
The Australian Dollar is steady after a relatively quiet night on the economic data front gave the markets little to draw on as far as the state of the economic recovery in the US and Europe is concerned.
The Australian Dollar opens lower today against the greenback at 0.8980.
Sandy had an extensive human resources background, yet it was hidden in a plethora of bullet points in a lengthy and somewhat redundant résumé. She was also seeking a management-level position and was finding the fact that she did not have a college degree hindered her search. She did not know how to position her experience to overcome the potential disqualifier.
The euro surrendered early gains and fell against the dollar on Wednesday in technical trading after again failing to holds above a key psychological level.
Earlier, the euro had rallied for the third straight day against the dollar after a German government bond auction attracted solid demand, easing some concerns about fiscal instability in the European Union. That euphoria failed to last much into the New York session.
