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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Anti-Mubarak protests, positive U.S. job news push up precious metals

Feb 04, 2011 08:38 AM

Precious metal futures' performances edged upward Friday morning as economists awaited a positive financial report from the Labor Department and the uprising against the Egyptian president continued, Bloomberg reports.

A Labor Department report on Friday was expected to indicate January saw the most jobs added per month in 90 days.

The New York Times reports Egyptian officials and the Obama Administration are engaged in conversations to facilitate president Hosni Mubarak stepping down as anti-government protestors reach their 10th day of demonstrating in Egyptian cities.

"We've seen a slight improvement generally in the economic recovery," Bernard Sin, head of currency and metal trading at MKS Finance in Geneva, told Bloomberg. "People are still very concerned about the Middle East and will be comfortable buying on any dips."

At 9:25 a.m., gold futures were up 0.05 percent, a $0.70 increase to $1,353.70 per troy ounce. Silver futures were up 0.96 percent, a $0.277 percent increase to $29.05 per troy ounce.

March-delivery platinum was up 3.3 percent to $1,844 per troy ounce shortly after 7 a.m. in Chicago and March delivery palladium was down 0.55 percent to $820 per troy ounce at 8:30 a.m. in Chicago.

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