You have to respect the power of the Federal Reserve when just a statement can turn the entire stock market around in a day. Yesterday, the Fed admitted the economy was not good and in a statement said, “. . .downside risks to the economic outlook have increased.”
Because the economy is tanking, the [...]
Bullion for immediate delivery dropped as much as 0.8 percent to $1,779.20 and traded at $1,789.07 at 11:19 a.m. in Singapore. Earlier, the metal rallied [...]
For the first time in history US treasury bonds are no longer triple-A rated. The bonds of Germany, France, Canada and the UK now have a higher rating. But don’t worry, Former Federal Reserve Chairman, Alan Greenspan, ruled out the chance on Sunday of a US default.
“The United States can pay any debt [...]
U.S. stocks cratered Thursday, sending the Dow Jones Industrial Average -4.31% to its worst-point drop since December 2008, as fears about the global economy sparked a broad sell off that accelerated into the close.
Gold rallied to fresh highs this afternoon shortly after the publishing of US jobs data which reported 400,000 Americans made [...]
Gold hit a record for a second straight day yesterday, driven by deepening fears over the spread of the European debt crisis and its impact on regional growth, while data showed a number of central banks bought gold in June.
The United States managed to avert an unprecedented debt default on Tuesday after lawmakers [...]
Comex gold futures prices ended the U.S. day session sharply higher and set another new all-time record high of $1,647.80. Strong safe-haven investor demand amid several market place worries continues to boost the precious metals markets, and especially gold. It did not take traders and investors long to look past the U.S. debt limit [...]
The Commerce Department said the real gross domestic product rose 1.3 percent in the second quarter, down from 1.9 percent in the first quarter of the year.
“All of the markets at the moment are fixated on the U.S. and the debate on our debt,” said Frank Lesh, broker and futures analyst with FuturePath Trading.
As of [...]
Europe and Washington’s debt ceiling squabble has seen gold breach $1600 per ounce. The financial media’s standard line is that investors are scared and gold represents a “safe haven”. But how? What are investors scared of that’s led some of them to bid the gold price higher?
First off, a little context. Over the [...]
Gold fell for the third straight day as the euro advanced on a plan to contain the region’s debt woes, cutting demand for the precious metal as a haven. Gold futures for August delivery fell $9.90, or 0.6 percent, to settle at $1,587 at 1:45 p.m. on the Comex in New York. Prices are [...]
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