Gold fell on Monday, notching its first monthly decline in six months, as strong U.S. factory and spending data coupled with fading worries about the euro zone debt crisis put a damper on the metal's rally.
U.S> stocks, led by AMD and Exxon Mobil, are up slightly today
U.S. stocks rose on Monday on strong earnings and merger activity, overshadowing concerns about the possible spread of unrest in Egypt which had caused a sharp selloff in world stocks on Friday.
Dow Jones Index was up 21.99 points, or 0.19 percent, to 11,845.69 and the S&P 500 index rose 4.54 points, or 0.36 percent, to trade at 1,280.88. Meanwhile, Nasdaq gained 0.39 points, or 0.01 percent, to 2,687.28.
[Gold] buying continued on fears the unrest in Egypt will spread across the Middle East, says Richcomm Global Services in Dubai. But Asia's gold market is less sensitive to what happened in Middle East compared to New York, said a Hong Kong dealer in a note this morning.
Futures on major U.S. indices point to lower opening on Monday amid continuing political unrest in Egypt.
Fundamentals and nasty surprises are on investors minds heading into February, with big tests in the coming week about jobs and inflation and increasing worries over Egypt and its region.
China will ramp up conventional fuel imports and production to power its economy in 2011 despite accelerating efforts to develop clean, renewable and alternative energy.
US stocks advanced slightly in early trade on Friday after government data showed that US economic activity grew at a 3.2 percent annual rate in the fourth quarter.
The companies that reported earnings before the markets open on Friday are: Ford Motor, Chevron Corp., Honeywell International, Dominion and Dover.
The S&P 500 index surpassed the 1300-point level twice today, the first time the index reached that plateau since August, 2008, as U.S. stocks finished slightly up today on mixed earnings reports.
Nigeria's combined crude oil and condensate production is currently 2.4 million barrels per day (bpd) but output from Africa's largest crude exporter still remains within its OPEC quota, the state oil company says.
US stocks modestly rose in early trade on Thursday, following weaker-than-expected reports on initial jobless claims, durable goods orders and mixed corporate earnings.
Gold fell back from its third overnight rally in four days in London trade on Thursday, dropping 1.1% against the Dollar. We don't feel that this downward pressure can persist, given ample global liquidity and low long-term real interest rates, says Standard Bank's commodity team in a client note.
Futures on major U.S. stock indices point to a modestly higher opening on Thursday ahead of economic data including durable goods orders and pending home sales as well as slew of earnings reports.
US stocks are trading mixed in early trade on Wednesday as declines from Boeing weighed on Dow, while investors and markets await the US Federal Reserve’s meeting and interest rate decision.
Emerging stocks edged down on Tuesday as inflation worries persisted and weaker metals prices knocked South African shares and the rand.
Algeria expects oil production to remain steady in 2011, while liquefied natural gas (LNG) supply contracts will be met despite reduced capacity, the head of state-owned energy giant Sonatrach said on Tuesday.
The Gold Price fell to new multi-month lows against all major currencies on Tuesday morning, dropping to $1325 per ounce as capitulation and panic hit Asian investment traders, according to one Hong Kong dealer.
Lately, we've noted the improving sentiment picture for Gold. As a market weakens, sentiment will naturally become less bullish. In this case, sentiment has weakened considerably yet Gold is only 6% off its high. Most interesting in particular is the divergence between the COT data for Gold and Silver and the rest of the commodities.
Gold continues to form a long consolidation pattern which has lasted basically for the final quarter of 2010, says Phil Smith in his chart analysis for Reuters' clients. [On] the possible topping [head-and-shoulders] pattern I've been looking at...we have now broken the neckline. Watch for a decisive break below this line. The target for this topping pattern is $1230.
OPEC may consider raising production in 2011 in order to meet higher demand, according to the oil minister of Saudi Arabia.