Gold held near $1,350 an ounce on Monday after the metal's first weekly rise this year supported investor confidence in the metal, though a more optimistic view of the global economic outlook is continuing to weigh on prices.
China maintains yuan's peg to the dollar by continually purchasing dollars in the open market, which means that China has to buy more ad more dollars as the U.S. currency gets weaker. And here is the role of the U.S. Federal Reserve in exacerbating Beijing's concerns.
Bank of America Corp has agreed to pay $410 million to settle lawsuits accusing it of charging customers with excessive overdraft fees, court documents show.
The pace of economic recovery has reached escape velocity from the worst recession in decades, though the nation may not return to full employment until 2014, a top Federal Reserve researcher said on Friday.
Tighter budgets at the U.S. Securities and Exchange Commission could mean killing vital technology upgrades needed to catch swindlers, the agency's chief said on Friday in a blunt appeal for more funding.
U.S. employment rose far less than expected in January, partly the result of severe snow storms that slammed large parts of the nation, but the unemployment rate fell to its lowest level since April 2009.
Federal Reserve Chairman Ben Bernanke on Thursday issued a stern warning to Republican lawmakers that delays in raising the United States' $14.3 trillion debt limit could have catastrophic consequences.
Federal Reserve Chairman Ben Bernanke on Thursday issued a stern warning to Republican lawmakers that delays in raising the United States' $14.3 trillion debt limit could have catastrophic consequences.
Experts can argue all they want about the causality relationship between food inflation and QE2. What cannot be denied, however, is the correlation.
U.S. stocks, after selling-off in the early session, bounced back to finish moderately higher on some positive economic news, despite continued political unrest in Egypt.
Gold rose over 1 percent in choppy trade on Thursday, with a sudden jump by over $20 per ounce within minutes as large buy orders were apparently triggered in the future markets. This comes unexpected to precious metals experts, as the gold price was supposed to be kept low by the usual large Wall Street players during todays speech by Bernanke, and was set to rally on Friday, when unexpectedly bad labor market numbers will come in and drive gold prices higher.
Federal Reserve Chairman Ben Bernanke's speech to the National Press Club on Feb. 3, 2011
Retail clothing stores such as Ann Taylor are leading the way so far on strong retail report by the Institute for Supply Management
The U.S. economic recovery still needs help from the Federal Reserve despite signs of improvement, the central bank's chairman Ben Bernanke said on Thursday.
The U.S. economic recovery still needs help from the Federal Reserve despite signs of improvement, Chairman Ben Bernanke said on Thursday.
New U.S. claims for unemployment benefits fell sharply last week while nonfarm productivity in the fourth quarter was stronger than expected, confirmation the economic recovery was strengthening.
U.S. unemployment will stay high for some time, in part because changes in the labor market have made it tougher for those out of work to find jobs, a Federal Reserve Bank of Cleveland economist said on Monday.
The bull market in Gold is in its 12th year (globally it began in 1999) but has yet to exhibit any bubble-like conditions. Institutional accumulation began in 2009 (e.g. Paulson, Einhorn) and we know that phase lasts at least a few years before a bull market gives birth to a bubble.
The U.S. manufacturing sector grew at its fastest pace in nearly seven years in January, and prices paid jumped more than expected in the latest sign the economic recovery is gaining traction.
The U.S. economy is recovering, but the speed of improvement should not be overstated and it is too early to declare victory, a top Federal Reserve policy-maker said on Monday.
Banks were the most optimistic in years as 2011 began that they will not have to write off as many bad business and consumer loans this year, a survey issued by the Federal Reserve showed on Monday.
Quantitative easing by the Federal Reserve and other central banks cannot address fundamental economic problems but may lead to excessive global liquidity and competitive currency depreciation, China's central bank said on Sunday.
