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 [...]
Gold prices continued rising Tuesday, hitting a fresh intra-day high of $1,782.50 an ounce and ending above $1,740 for the first time amid concerns about the U.S. economic outlook. Gold futures for December delivery climbed $29.80 from Monday to close at $1,743.00 an ounce on the New York Mercantile Exchange.
Gold continued attracting buyers [...]
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 [...]
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 [...]
Gold held steady below its record high on Tuesday as investors waited to see if President Barack Obama’s appeal for lawmakers to break a deadlock in US debt talks would succeed. Also, the euro zone debt crisis lent support as well. Spot gold was little changed at $1,615.36 an ounce, slightly firmer after Obama [...]
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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