Thursday's London Silver Fix set the white metal's price at $32.50 per ounce, nearly $7 lower than a day earlier and 33% below the 31-year high of $48.70 set on April 28. [Silver] is still in an uptrend, despite the sharp sell-off reckons Mary Ann Bartels, head of US technical and market analysis at Bank of America Merrill Lynch, who said yesterday silver could hit $50 per ounce by the end of the year.
HSBC Holdings Plc (NYSE: HBC) said it plans to save up to £2-billion (or $3.5-billion) over the next two years. by downsizing its wealth management and retail segments
U.S. stock markets gained for the first time in four days on Tuesday as stronger-than-expected report on new home starts and encouraging quarterly results from Johnson & Johnson helped lift the markets.
[Selling silver short] natural with these giddy prices, one London trader told the Platts news service on Monday. Speculators are going to have to take profits soon. Shorts have been burned in the run-up, but keep coming back for more, he said, forecasting a $10 drop in the Silver Price short term.
Gold stayed above $1480 per ounce in Asian and European trading, and then experienced a sudden spike $15 upwards to new record prices yet again at the beginning of the New York trading session. Prices take support from worries over euro zone debt and inflation in Asia after China opted to raise reserve requirements again.
Gold jumps to new record highs over $1480 US dollar per ounce on Friday as Asian demand is unstoppable. Silver is holding near its earlier 31-year high at $42.64.
Wholesale Gold Bars slipped to a 3-session low in London trade on Tuesday, finally bouncing higher from $1455 per ounce - some 1.5% below yesterday's new Dollar high - as world stock markets fell and major-economy government bonds rose.
The price of Gold reached new record highs vs. the Dollar on Wednesday in London, breaching $1460 per ounce as world stock markets also kept rising together with commodities and higher-yielding currencies.
US stocks ended higher on Thursday as investors are shrugged off bad news and focused on some positive developments from the US corporate sector.
U.S. stocks staged an afternoon rally Wednesday, led by materials companies, though investors continued to eye several overseas trouble spots warily.The Dow Jones Industrial Average rose 89 points, or 0.7%, to 12108 in late afternoon trade, led by Alcoa, which rose 3.3%. The gains were kept in check by a 1.5% decline for Bank of America, which said the Federal Reserve didn't allow it to boost its dividend. Wal-Mart Stores also was weak, falling 0.8%, as was DuPont, down 0.4%.
Shares of companies active in Wednesday's early trade are: Jabil Circuit, Cree, Adobe, Veeco Instruments, XOMA, Tata Communications, China Southern Airlines Co., Cintas, Global Industries and Northern Oil & Gas.
US stocks ended higher on Friday as sentiment was buoyed after Libya announced a cease-fire and the Group of Seven (G-7) Finance ministers agreed to intervene in the markets to stabilize the Japanese yen.
U.S. stocks ended higher on Friday led by gains from Oil refiners after the earthquake disrupted Japan's refining capacity and and equipment makers advanced on expectations for increased demand from rebuilding efforts.
U.S. stocks plunged on Thursday as weaker-than-expected economic reports from both domestic and overseas coupled with fears over the impact on oil price by pervasive unrest in the Middle East and North Africa weighed on the sentiment.
China should increase its gold reserves appropriately, and must take every chance to buy, especially when Gold Prices fall, said Li Yining, a senior economist at Peking University and an advisor to the national parliament's Political Consultative Committee, quoted today by Beijing's official Xinhua News Agency.
Despite massive public indignation over bankers bonuses, the chief executive of Barclays plc (NYSE: BLS) will receive a £6.5-million bonus, according to reports, making him the highest paid bank boss in Britain.
The Gold Price eased back for Dollar investors on Friday in London, but recovered one third of yesterday's sharp sell-off – and was heading higher for the fifth weekly gain in a row – as official data said US unemployment retreated to 8.9% last month.
Hong Kong-listed shares of HSBC Holdings Plc fell more than 5 percent on Tuesday, the biggest single-day decline in almost a year after Europe's biggest bank cut its profitability target citing the cost of tougher banking regulations.
Shanghai and Hong Kong look set for a collision course as they seek to attract yuan listings by foreign firms, in a battle where the mainland market may have the upper hand initially.
Chinese shares rose on Tuesday on decent volume suggesting further strength ahead, while markets in Hong Kong struggled to hold gains under pressure from a near 5 percent slide in heavyweight HSBC.
Chinese shares rose on Monday, reversing early losses as Asian markets edged up after last week's dip, with investors gearing up for earnings results from big hitters including banking giant HSBC.
Gold held near $1,400 an ounce in Europe on Friday, supported by interest in the metal as a haven from risk as violence flared in Libya, but struggled to maintain traction as some investors cashed in this week's hefty gains.
