Gold regained strength on Monday after jewelers resurfaced at lower levels, while strong equities lifted platinum group metals despite a lack of buying interest from automakers.
Asian stocks gained while the dollar hit a three-month low against a basket of currencies due to concerns the U.S. economy's recovery was losing momentum following the release of poor economic growth data.
Oil rose toward 12-week highs above $79 on Monday, driven by investor appetite for commodities and energy risk, with macroeconomic indicators in top consumers the United States and China showing slower but sustained growth.
The dollar hovered near a three-month low against a basket of currencies on Monday and was seen stuck in a downtrend due to concerns that the U.S. economy's recovery was losing momentum.
The dollar has been hobbled by worries over the U.S. economy after a series of U.S. economic data in the past month undershot market expectations, and its slide has been exacerbated by some bearish signals on technical charts.
More trouble has come to Zimbabwe's Mugabe family with first lady Grace Mugabe figuring as one of the biggest beneficiaries from the diamonds from the controversial Chiadzwa fields after it emerged she is a shareholder in Mbada Diamonds.
BNP Paribas , France's biggest listed bank, posted higher-than-expected second-quarter net profit thanks to lower loan provisions and strong retail banking, despite volatile financial market conditions.
AT&T Inc and Verizon Wireless are planning a partnership to displace credit and debit cards by letting consumers pay with the contactless wave of a smartphone, Bloomberg News reported, citing three people with direct knowledge of the plan.
UBS AG said on Sunday it plans to hire executives from Goldman Sachs Group Inc and Bank of America Corp to build its mortgages and lending business in the U.S.
UBS AG said on Sunday it plans to hire executives from Goldman Sachs Group Inc and Bank of America Corp to build its mortgages and lending business in the U.S.
UBS AG said on Sunday it plans to hire executives from Goldman Sachs Group Inc and Bank of America Corp to build its mortgages and lending business in the U.S.
The Australian Dollar has opened up firmly above 0.9000 this morning after the release of two major announcements on the weekend: US GDP Q2 figures and China PMI (purchasing manger's index) for the month of July.
Greenback weakness across the board has helped put the Australian Dollar back over US90 cents during offshore trade on Friday and we open in Sydney this morning at 0.9050.
U.S. stocks are unlikely to break above a key technical level this week unless monthly jobs data and consumer company results paint a more promising picture of the recovery.
Employment, it turns out, may not be such a laggard after all.
More than a million BlackBerry users may have key services in Saudi Arabia and the UAE cut off after authorities stepped up demands on smartphone maker Research In Motion for access to encrypted messages sent over the device.
More than a million BlackBerry users may have key services in Saudi Arabia and the UAE cut off after authorities stepped up demands on smartphone maker Research In Motion for access to encrypted messages sent over the device.
U.S. stocks are unlikely to break above a key technical level this week unless monthly jobs data and consumer company results paint a more promising picture of the recovery.
Over a million BlackBerry users face being cut off from key services in Saudi Arabia and the UAE after authorities stepped up demands on maker Research In Motion for access to encrypted messages sent on the smartphone.
BlackBerry maker Research In Motion was hit with its first major ban on Sunday after the United Arab Emirates, citing security risks, said BlackBerry services would be barred in October.
British finance minister George Osborne urged the country's banks in a newspaper interview to use strong first-half profits to boost business lending rather than pay large bonuses.
A Sub-committee on agriculture, appointed by the Prime Minister's Council on Trade and Industry, met for the first time and decided to come up with a plan to achieve higher growth in the agriculture sector through public sector involvement. The country's average farm growth in the first three years of the 11th Five-Year Plan period (2007-12) has been only 2.2 per cent, against the target of 4 per cent for the entire period. The mid-term appraisal has estimated the average growth in the sector to...
After a rally towards the end of 2009, base metals have tumbled in the first half of 2010 on China monetary tightening and concerns about sovereign debt problems in Euro Zone nations. Apart from the temporary upward movements seen in copper, nickel and aluminium analysts hold divergent views on prospects for base metals ahead in 2011. Against this backdrop, Atul Shah, Head of Emkay Commotrade, talks to Sreekumar Raghavan of Commodity Online that prospects for base metals in the medium term looks...
French financial holding firm Eurazeo said on Saturday it is in exclusive talks to sell its B&B Hotels chain to U.S. private equity firm the Carlyle Group.
Crude oil futures continued to trade in a very narrow range, unable to cross the $79 a barrel threshold even though they ended 4.4% higher on the month. The benchmark West Texas Intermediate rallied with the stock market late Friday to finish the week at $78.95 a barrel, virtually unchanged from $78.98 a week ago, after dipping just below $77 a barrel earlier in the week. End-of-month trading might have accounted for some the late gains, analysts said.
The base metals have recovered from the depressed levels of early June with prices trending higher in July and hence Natixis Commodity Markets maintains a positive view for base metals. The impact of escalating sovereign debt crisis in Europe and unctertainy over China's efforts to curb excessive credit creation which were the main concerns of the first quarter of 2010 has eased, Natixis Commodity Markets maintains.
With a series of auto makers announcing good sales and profits this week, palladium prices soared to new heights on Friday. Palladium settled up $22.50, or 4.8 percent, at $491.20 an ounce. Palladium and platinum, which also is higher, are used in making catalytic converters for cars.
Global wheat prices are expected to remain higher due to lower output forecast by International Grain Council (IGC) and the UN's Food and Agriculture Organization (FAO). IGC has revised the global wheat forecast lower by 1.9% for the 2010-11 to 651 million metric tons due to the output losses in parts of Black Sea regions, such as EU and Canada.
Global oil and gold prices ended the week on a positive note mainly on rising investor confidence despite highly volatile market conditions. New York's main contract, light sweet crude for delivery in September, rose 59 cents to close at $78.95 dollars per barrel.
Gold traders in Nepal repeated their request with the government for permission to import more gold than the present quota of 10 kg a day. In a request letter to the government, Nepal Gold and Silver Dealers' Association (NEGOSIDA) said internal demand is increasing and with the festival season approaching, the demand for gold will increase up to 30 kg a day.
Investors in India are waking up to the power of gold. In a recent survey, it has come out that Asian investors are more likely to buy gold in the next six months than their North American and European counterparts.
U.S. stocks are unlikely to break above a key technical level next week unless monthly jobs data and consumer company results paint a more promising picture of the recovery.
