Stocks sold off as disappointing results from Goldman Sachs (NYSE: GS) dragged down the financial services sector, as the indices endured their worst one-day price drop since November.
Groundbreaking on new U.S. home construction fell more than expected in December to its lowest in over a year, suggesting the battered housing sector remains a major roadblock to economic recovery.
Gold rallied for a third consecutive session on Wednesday, boosted by broad weakness in the dollar and robust Asian consumer demand, while anticipation of more resilient global growth took platinum to 30-month highs.
US stocks traded mixed in early trade on Wednesday, following mixed earnings from financial heavyweights Goldman Sachs and Wells Fargo and a government report showed that U.S. housing starts fell more than expected in December.
After a lengthy absence, [other] asset managers and central bankers are readmitting gold back into the group of prudent asset classes, writes Thomas Kaplan, chairman of New York's Tigris Financial advisory and asset-management group, in today's Financial Times.
Futures on major U.S. indices point to a lower opening on Wednesday after Goldman Sachs reported a decline in quarterly profit and a government report showed that U.S. housing starts fell more than expected in December.
World stocks reached their highest levels in nearly 2-1/2 years on Wednesday with the MSCI world equity index reaching 1324, the highest since August 2008.
Futures on major U.S. indices point to a flat opening on Wednesday ahead of quarterly earnings from top investment bank Goldman Sachs and key housing data due to be released before market opens.
For the inauguration of the Hotel Alpine Rock in St Moritz, Swiss actress and model, Xenia Tchoumitcheva was seen adorning de Grisogono jewelry.
U.S. stocks climbed modestly higher, despite some negative developments with market behemoths Apple Inc. (Nasdaq: AAPL) and Citigroup (NYSE: C).
China's Sichuan Hongda Co. Ltd. will invest $3 billion in a coal-fired power plant and two iron ore mines in Tanzania, the state-run National Development Corporation (NDC) said on Tuesday.
German precious metals refinery group Heraeus reports massive demand for bars and coins, even as ETF trust funds and Comex futures contracts saw considerable profit-taking driven liquidations by institutional traders.
US stocks traded mixed in early trade on Tuesday following weaker-than-expected earnings from Citigroup, while declines in Apple shares dragged technology-heavy Nasdaq lower.
A Swiss lawyer officially filed a legal maneuver asking the government to freeze any assets held by Tunisia's former president Zine El Abidine Ben Ali in Swiss banks, on the heels of a similar request by the Swiss Socialist Party.
In covering the gold sector, I have noticed something lately. The large-caps really suck! Ok, that is harsh but it is the truth. The chart below shows the large-cap indices. What do you see? The Dow Jones Precious Metals Index hasn't gone anywhere for five years, while Gold has more than doubled.
Mid-tier producer Iamgold Corp (IMG.TO) posted a 21 percent sequential rise in gold production in the fourth quarter and reaffirmed its 2011 production outlook. The Toronto-based company said on Monday it expects to produce 1.1-1.2 million ounces in 2011, at cash costs of $565-$595 an ounce.
African Barrick Gold (ABGL.L) said fourth-quarter output rose from the preceding quarter as its new Buzwagi mine overcame production difficulties by mid-November, but missed its overall output target for the year.
Gold priced in US dollars rose for a second day on Tuesday. Reflecting the improved consumer appetite for gold in Asia, premiums for gold bars rose on Monday to hit another two-year high as jewelers from China rushed to buy ahead of the Lunar New Year, while purchases from the electronics sector helped stir up physical trading in Japan, dealers said.
Tunisia's prime minister appointed opposition figures to a new unity government on Monday, trying to establish political stability after violent street protests brought down the president last Friday.
Investors remain preoccupied by the threat of further monetary tightening in China, writes Marc Ground at Standard Bank in London today. This is weighing on precious metal prices, encouraged further by a stronger Dollar off the back of lingering Eurozone debt concerns.
From Versace to Dolce and Gabanna; style quotient was high during the 2011 Golden Globe Awards at The Beverly Hilton Hotel in LA on January 16. Here are some of the best fashion statements from this year's award ceremony:
'Boardwalk' and 'Glee' were the winners this season
