EUROPEAN CENTRAL BANK

The Gold Price climbed to $1544 per ounce Thursday morning but then dropped sharply to $1520 and stabilized at $1532 per ounce, while stocks, commodities and US Treasuries were all hit after worse-than-expected US economic news and a further downgrade for Greece.

The Greek government has agreed to reduce its budget deficit for this year by implementing a series of spending cuts amounting to 6.4-billion euros, according to an Athens official who spoke to Reuters.

Wholesale Gold Bullion Prices surged up by nearly $20 on Wednesday morning, reaching $1550 per ounce while stocks and commodities were flat.

Speculation is rising that the cash-strapped Greek government is nearing an agreement with officials from the European Union, International Monetary Fund and European Central Bank on then next round of bailout financing.

The equivocal, baby step rhetoric of the SNB - together with Swiss exporters' reluctance to give up the benefits of a weaker Swiss Franc - suggest that we shouldn't expect Switzerland either to race away from the bottom just yet.

Amidst growing fears that cash-strapped Greece will likely default on its huge debt, one major foreign voice has declared that Athens may have no choice other than to restructure its debt.

The International Monetary Fund’s (IMF) chief official responsible for Greece has warned the debt-stricken country must take even more austerity measures in order to reduce its massive budget deficit.

Spot Gold prices rallied against all major currencies on Wednesday morning, hitting $1491 per ounce and rising 1.2% from yesterday's eight-day low as stock and commodity markets also gained.

As Dominique Strauss-Kahn’s continued role as boss of the International Monetary Fund (IMF) appears doomed following his arrest on charges of rape in New York over the weekend, speculation grows on who will ultimately succeed him.

The price of crude oil plummeted almost 9 percent to finish below $100 per barrel – the largest one-day percentage drop in more than two years – on growing worries about the U.S. economy.

The euro has decoupled from the euro zone peripheral debt crisis in 2011.

Gold Bullion jumped above $1500 per ounce in London on Wednesday, setting new Dollar and Sterling highs but falling sharply against the Euro as the single currency rose to its highest level since 2009.

Spot Gold jumped to a new all-time high of $1489 per ounce in Asian trade Monday, edging lower as the Dollar rose on the currency market and global equities began the Easter-shortened week with a 0.5% drop.

Consumer prices in Britain slowed for the first time in eight months in March, dampening expectations over interest rate hike by the Bank of England in the near term.

Hitting $1472.50 for US investors today, the Gold Price also rose sharply against the British Pound - hitting its best level since New Year at £900 per ounce - but was in flat against most other major currencies. Silver Prices, in contrast, rose to new multi-decade highs across the board.

U.S. stocks declined on Thursday after reports of another earthquake hitting Japan in less than a month, but markets were off their lows after a tsunami warning was lifted.

Diego Iscaro, senior economist at IHS Global Insight , warns that the bailout will not solve Portugal’s economic woes.

U.S. stocks advanced in early trade on Thursday after official data showed that applications for jobless benefits fell last week.

Swiss inflation in March spiked to 0.6 percent month-to-month and 1 percent year-on-year, higher than the expected 0.5 percent and a reading of 0.5 percent in February.

U.S. stocks pared earlier gains as energy companies’ shares declined after a higher-than-expected increase in petroleum inventories and Monsanto Co. shares declined as its revenue fell short of expectations.

Retail sales in eurozone fell unexpectedly in February, as consumers curtailed spending amid rising prices. The volume of retail trade in the 17-nation eurozone dropped 0.1 percent in February compared with 0.2 percent increase in January, the Eurostat said on Tuesday.