Stocks rose modestly, boosted by strong corporate earnings from J.P. Morgan (NYSE: JPM) and Intel Corp. (Nasdaq: INTC), allowing the S&P 500 index to score its seventh consecutive week of gains.
The South African rand fell to its lowest in five weeks on Friday, as the central bank mopped up dollar supply as a measure to curb currency strength, while waning global risk appetite also weighed.
Bullion rebounded on Friday as the euro lost strength despite better-than-forecast debt auctions by Spain and Italy, while purchases from jewellers and investors, which sent premiums for gold bars to two-year highs, offered additional support.
Gold fell in Europe on Friday after China's central bank raised lenders' reserve requirements by 50 basis points, with softer haven demand for the metal after solid bond sales by Portugal and Spain also weighing on prices.
The Euro extended its rally on the currency markets, spiking to a 4-week high vs. the Dollar of $1.3450 before easing back. Thus, Gold priced in Euros dropped almost 5% from Monday's near-record high.
US futures are set to open lower on Friday after a disappointing jobless claims data, which could weigh on sentiment.
Gold fell on Thursday, snapping three sessions of gains as safe-haven buying subsided after successful European bond sales and a more positive economic outlook from U.S. Federal Reserve Chairman Ben Bernanke.
Stocks edged down on a disappointing labor market data
2011 is shaping up as a race to the bottom for currency values, writes Harvard professor Kenneth Rogoff in today's Financial Times. No wonder gold has been so attractive.
While environmentalists fear destruction of marine life and the Great Barrier Reef due to floods, here’s a fact sheet about traveling in Queensland, weather condition, information on operational airports and affected areas to avoid while in Brisbane
Stock rallied as banks/financials stocks pushed higher following an upgrade of the sector by Wells Fargo and a successful bond offering in Portugal.
The World Health Organization launched a plan on Wednesday to stop a form of drug-resistant malaria from spreading from Southeast Asia to Africa, where millions of lives could be at risk.
The S&P 500 Index gained 3.69 points, or 0.29 percent, to trade at 1,278.17 at 9.30 a.m. EDT. The Dow Jones Industrial Average rose 32.93 points, or 0.28 percent, to trade at 11,704.81. The Nasdaq Composite Index advanced 11.50 points, or 0.42 percent, to 2,728.49.
Talking to people in the Chinese market over the weekend, writes Jeff Toshima, Tokyo director of the World Gold Council, in today's Nikkei Money, I was amazed to discover the number of gold saving accounts at Industrial and Commercial Bank of China has grown above 1,000,000 within a year of ICBC launching the service.
Gold holdings rose because of purchase by the central bank of Estonia to cover its contribution to the ECB's foreign reserve assets, the ECB said.
Gold prices rose in Europe on Wednesday, as a retreat in the dollar, rising oil prices and caution ahead of a sale of Portuguese bonds later in the day all boosted interest in the precious metal.
The attempted assassination of U.S. Rep. Gabrielle Giffords, D-AZ, and the murder of six innocent bystanders, at a “meet and greet” with constituents on Jan. 8, was a shocking and tragic event nationwide. Unfortunately, trying to kill American politicians is neither unique nor new.
Traders are talking about buying dips again, concurs a Hong Kong dealer, noting that Asia physical market remains very tight for Gold Bars. Reuters says the Hong Kong premium for wholesale Gold Bars over benchmark London prices today held at $3 per ounce, a near 30-month high.
US stocks advanced in early trade on Tuesday as Alcoa kicked off the earnings season by beating forecasts, while Japan’s pledge to buy eurozone bonds eased concerns about eurozones debt.
Topics of this interview include Scott Carter highlighting the global dynamic of today's interest in gold, and how macro-economic trends continue to drive the decade long bull market of the precious metals. We also evaluate the possibility of seeing QE3 in 2011.
Attributing fear and confusion to what is becoming a multi-decade bull market is borderline heretical. I understand that Wall Street stock jocks hate Gold. Fine. But let's get one thing straight. There are real driving forces here which can be sustained into the future.
Stocks finished mixed, following a sell-off in Europe, on worries over Portugal possibly needing a financial bailout, ahead of the kick-off of the fourth-quarter earnings season.