It’s no secret that speculators are buying up long contracts of commodities futures. However, the crowding of speculators in into one trade (in this case, long all kinds of commodities) usually spells an imminent reversal, especially if commercial users are on the other side of their trades.
Motorola Xoom is making its debut today at Verizon Wireless stores. Many analysts hail the tablet to be first real competitor against Apple iPad. But iPad 2 unveiling which is expected to take place on March 2 can spoil Motorola Xoom dream debut if the analyst predictions come true.
The Gold Price rose further in London trade Thursday morning, hitting new 2011 highs for Dollar investors as Brent crude oil jumped to $119 per barrel and a raft of economic analysis warned of stagflation ahead for the global economy.
Newmont Mining Corp's (NEM.N) fourth-quarter profit rose sharply, beating Wall Street estimates, and the company increased its gold reserves by 2 percent. The world's No. 2 gold producer said on Thursday that net earnings were $812 million, or $1.61 per share, compared with $558 million, or $1.13 per share, in the same quarter of 2009.
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Gold steadied near seven-week highs on Thursday, as investor fears over inflation stemming from the spike in crude oil were partially offset by pockets of profit-taking after the market's 6 percent rise this month.
Futures on major U.S. indices point to a lower opening on Thursday as oil prices continued surge due to continued turmoil and violence in Libya.
Merger and acquisitions activity in the global mining sector is expected to accelerate in 2011, fueled by strong commodity prices and repaired balance sheets, advisory and accountancy firm Ernst & Young said on Wednesday.
King Abdullah of Saudi Arabia - jointly the world's biggest oil producer alongside Russia, and so far immune to the civil unrest sweeping North Africa and the Middle East - returned from hospital treatment abroad to announce a near US$38 billion package of new housing projects, a 15% pay-rise across the board, and the kingdom's first-ever unemployment insurance.
This is one of the authors and books who correctly forecasted the financial crisis, and told investors exactly how to profit from the consequences. People who followed the simple advice of investing in Gold and hard assets years ago, when this book first appeared in 2004, could multiply their fortune.
Throughout the ages, many things have been used as currency: livestock, grains, spices, shells, beads, and now paper. But only two things have ever been money: gold and silver. When paper money becomes too abundant, and thus loses its value, man always turns back to precious metals. During these times there is always an enormous wealth transfer, and it is within your power to transfer that wealth away from you or toward you. --Michael Maloney, precious metals investment expert
Namibia's central bank kept its main interest rate unchanged at 6.0 percent on Wednesday, but said economic growth is likely to be better than previously expected as the economy recovers from a downturn.
US stocks were mixed in early trade on Wednesday after plunging in the previous session amid political unrest in the Middle East.
Spot gold was bid at $1,401.50 an ounce at 0933 GMT, against $1,399.20 late in New York on Tuesday. U.S. gold futures for April delivery eased 30 cents an ounce to $1,400.80.
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Gold fell back slightly toward $1,400 an ounce on Tuesday, breaking a six-session rally, as turmoil in Libya prompted bullion investors to take profits and as sharp losses in equities and other commodities markets prompted margin selling.
The following are prepared remarks of New Jersey Gov. Chris Christie to a joint session of the state's assembly in Trenton regarding the fiscal year 2012 budget on Feburary 22, 2012.
South African resource-heavy stocks slipped on Tuesday as Libyan unrest prompted an equities sell-off while the rand firmed against the dollar, recovering from earlier losses as better-than-expected GDP data boosted the currency.
South Africa plans to set up a chain of pumping stations and treatment plants to prevent toxic liquids building up in defunct gold mines beneath Johannesburg from reaching dangerous levels.
US stocks declined in early trade on Tuesday as political unrest in the Middle East weighed on the sentiment.
Shares of Alibaba.com tumbled as much as 10 percent after an internal probe prompted resignations of its top executives and forced the company to clean up a vendor mess that defrauded buyers.
China's environmental protection agency has vowed to curb heavy metal pollution in a bid to cut widespread industrial contaminants like lead that have poisoned children and sparked protests.