Gold dropped 1.5 percent on Friday, falling further from the previous session's record highs, as a rise in appetite for riskier assets prompted profit-taking from bullion's sharp safe-haven rally this week.
U.S. consumer sentiment worsened sharply in early August, falling to the lowest level in more than three decades, after retail sales posted the biggest gain in four months in July.
Gold and silver prices retreated Friday as investors shrugged off weak consumer sentiment data to step back into stocks and give the S&P 500 a two-day winning streak for the first time since mid-July.
South Africa's rand steadied against the dollar on Friday but faced further losses after a turbulent week in which it hit its weakest levels in more than a year as investors spooked by debt woes in the U.S. and Europe fled to safer havens like the yen.
The U.S. Postal Service wants to cut 220,000 jobs. The agency will seek approval from Congress. The postal service has said it will default in late September if it does not get help from Congress.
Consumer sentiment worsened sharply in early August, falling to the lowest level in more than three decades, even though retail sales posted the biggest gains in four months in July, separate reports on Friday showed.
U.S. consumer confidence plunged in August, according to the latest reading. The level is the lowest since 1980.
Retail sales in July posted their biggest gain since March, tempering fears that the world's largest economy might be slipping back into recession.
U.S. stocks rose about 1 percent on Friday as mildly encouraging retail sales put the S&P on track for a two-day winning streak for the first time since mid-July as investors shrugged off weak consumer sentiment data.
U.S. stocks rose about 1 percent on Friday as mildly encouraging retail sales put the S&P on track for a two-day winning streak for the first time since mid-July as investors shrugged off weak consumer sentiment data.
The U.S. Postal Service is considering a plan to cut 120,000 jobs. But Congress would have to approve the move, and postal worker unions will strongly oppose the plan. The USPS is bleeding money, and nearing default.
Consumer sentiment worsened sharply in early August, falling to the lowest index level since 1980, even though retail sales posted the biggest gains in three months in July, separate reports on Friday showed.
Gold and silver mining company stocks fell Friday as the broader equity markets posted gains, extending for a second day their rebound from this month's horrendous downdraft.
Gold prices fell on Friday, extending the previous session's retreat from record highs as fresh strength in equity markets and gains in the euro versus the safe-haven Swiss franc pointed to sharper appetite for risk.
U.S. July retail sales moved higher, according to the Commerce Department, and stock markets advanced on the report Friday.
Retail sales in July posted their biggest gain since March, tempering fears that the world's largest economy might be slipping back into recession.
Stock index futures pointed to a higher open on Friday after the previous day's big move up as data showed retail sales posted their biggest gain since March.
Retail sales in July posted their biggest gain since March, tempering fears that the world's largest economy might be slipping back into recession.
Retail sales in July posted their biggest gain since March, tempering fears that the world's largest economy might be slipping back into recession.
Handing out flyers at the corner of 47th Street and Fifth Avenue in New York City's Diamond District, Mariabi Peenya is having trouble finding passersby eager to sell their gold jewelry for cash.
A surge in prices to all-time highs has galvanized the French retail gold market, for long a dusty corner beloved of coin investors, drawing in ordinary punters but also the unwelcome attention of armed robbers.
Gold prices eased in Europe on Friday, extending the previous session's retreat from record highs, as fresh strength in equity markets and gains in the euro versus the safe-haven Swiss franc pointed to sharper appetite for risk.
