INVESTMENT

Iranians Abandon Sinking Rial for Gold as Sanctions Bite

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As the Iranian rial hits all-time lows against the United States dollar in the wake of imposed international sanctions, Iranians seek safer havens in more global currencies like gold, according to a leading economist at the National Commercial Bank in Saudi Arabia.

Palladium Likely to Outperform PGM in 2012

Palladium bars
The deteriorating global growth outlook has meant the underperformance of the platinum group metals relative to gold, although supply disruptions could provide some relief to weaker demand. Of the PGM group, palladium is more likely to outperform in 2012, given its stronger links to U.S. and Chinese demand.
Hungary's Prime Minister Orban addresses a news conference at the end of an European Union leaders summit in Brussels

Hungary Downgraded to 'Junk' as PM Says Wants Deal

A rating downgrade on Friday left Hungary's debt rated junk across the board, underscoring investors' doubts about the government's willingness to change its controversial policies in return for aid to stave off a financial crisis.
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gold and silver

Gold to Average $1,875 This Year: Barclays

Barclays Capital released its 2012 price outlook for precious metals Thursday. Despite short-term hurdles, a clouded macro-economic environment against a backdrop of low interest rates and political uncertainties continue to stoke investor appetite for a more diversified and less riskier portfolio.
Obama speaks from the White House in Washington

Obama Defense Budget Puts More Focus on Asia

President Barack Obama unveiled a defense strategy on Thursday that calls for greater U.S. military presence in Asia and envisions cutting troops in Europe as the Pentagon seeks to reduce spending by nearly half a trillion dollars after a decade of war.
Iranian naval vessel

Safe Haven Appeal of Gold Re-emerges

Gold was on course for a fifth straight session of gains on Thursday as growing anxiety on Iran boosted its safe-haven appeal and rising seasonal demand in China buoyed sentiment.
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Asian Shares and Euro Dip on Europe Worries

Asian shares and the euro eased Thursday as concerns about the ability of euro zone countries to refinance their huge public debt dampened investor risk appetite ahead of a French bond auction later in the day.
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Blackstone Reaches Big Fundraising Finish Line

Blackstone Group LP will conclude fundraising for its latest buyout fund in January, raising just over $16 billion, three people familiar with the matter said on Wednesday, in a 4-year process challenged by the global financial crisis.
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Thompson Exit Puts Focus on PayPal Spinoff

The surprise departure of PayPal President Scott Thompson from eBay Inc could seriously set back any moves to spin-off the payments business as a separate company, investors and analysts said on Wednesday.
The sign up page of Linkedin.com is seen in Singapore

SEC Says Adviser Defrauded Investors Using LinkedIn

Securities regulators charged an Illinois-based investment adviser on Wednesday with using LinkedIn and other social media networking websites to lure investors by offering more than $500 billion in fake securities.
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India Mandates 'Hallmarking' of Gold Jewelry

India has made hallmarking gold jewelery mandatory, a senior government minister said on Wednesday, a move that could boost demand in the world's biggest gold market by taking care of quality worries.
Gold

Gold Demand in India May Rise Following Govt Move

India has made hallmarking gold jewellery mandatory, a senior government minister said on Wednesday, a move that could boost demand in the world's biggest gold market by taking care of quality worries.
RIM close to stripping co-CEOs of chairman role

RIM close to stripping co-CEOs of chairman role

Research In Motion is close to a decision on stripping its co-chief executives of their other shared role as chairman of the board, a newspaper said on Tuesday, a change that could meet a key demand from angry and disillusioned investors.

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