Gold futures dropped in New York on Thursday, as the U.S. dollars continued its rally turn against the euro.
Federal Reserve Chief Ben Bernanke said that failure to loan up to $30 billion in funds to Bear Stearns would have led to its bankruptcy and a chaotic chain of events which would have severely shaken confidence in financial markets.
Treasury note prices fell on Wednesday while yields rose after Fed Chief Ben Bernanke warned of a possible recession in the U.S. economy and a report indicated job growth for U.S. companies.
The dollar fell versus the euro on Wednesday after Federal Reserve Chairman Ben Bernanke said there was a possibility the U.S. economy could dip into a brief recession this year.
Statement of Fed chairman Ben Bernanke before the Joint Economic Committee of the United States Congress.
Federal Reserve Chairman Ben Bernanke said on Tuesday that the economy could possibly slip into recession later this year but would quickly rebound in the second half of the year.
Gold futures closed higher on Wednesday after dropping gains in two earlier sessions as the dollar dropped after Federal Reserve Chairman Ben Bernanke said the U.S. economy may shrink over the first half of this year, which would signal the start of a recession.
U.S. stocks gained for a third day Wednesday as investors' mood brighten after Best Buy Co released earning results, and Federal Reserve Chairman Ben Bernanke said the central bank will not need to save another financial firm.
By Adrian AshEvery time the bankers cock up, your money steps in thanks to government bail outs to patch up the losses.
By Dan DenningWhat do you need to manufacture good times? You need a lie, a leader, and a crowd. All three seemed to come together last week
By Julian D W PhillipsThe oil price is holding high at never before seen levels, not because of a shortage, but because US and foreign nationals and institutions are fleeing from Dollar instruments into hard assets...
By Jon NadlerNew York spot gold was up most of the morning and was showing a $10.00 gain at last check, quoted at $920.00 per ounce, as participants treaded lightly and awaited mid week economic statistics
The market for gold and other commodities is cooling and it is the dollar that has gained the most. The Reuters CRB Commodity Index is down 8.4 per cent over last one week.
By Adrian AshBarely a generation after the worst recession in US history, backing labor over capital like this and thereby nabbing labor's far weightier vote meant JFK got to kick Richard Nixon around at the ballot box
The Federal Open Market Committee released the following statement on Tuesday., announcing a three-quarters of a percentage point rate cut at its closed-door meeting.
Adding to several aggressive steps to boost the economy this week, the Federal Reserve lowered its target benchmark interest rate by 0.75 percentage points to 2.25 percent. The Fed voted 8 to 2 in favor of the move citing weakening economic activity, softer labor markets, financial markets under considerable stress and a deepening housing crisis in the coming quarters.
Federal Reserve Chairman Ben Bernanke said on Friday that the U.S. central bank would use the full measure of its ability to help alleviate the housing crisis.
Tokyo stocks slightly dropped back Wednesday as investors wait for new U.S. economic data.
U.S. stocks dropped to an 18-month low on Tuesday , after Federal Reserve Chairman Ben Bernanke urged banks to write down more mortgage debts. Financial shares led indexes to fall while oil and gold dropped from previous records.
Oil futures surged to a new record on Thursday as reports showed more signals of an economic slowdown in the U.S., the dollar fell against the euro and Nigeria reported a partial shutdown in production.
Oil surged more than 3 percent to an all-time high on Thursday after news that a fire struck a major European natural gas terminal.
Gold futures surged on Thursday, nearing a record high of $970 an ounce causing the dollar to continue its fall against the euro and boosted the precious metal's appeal as an inflation hedge.
