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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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Gold futures again set highs, drive toward $1.6k

Jul 14, 2011 05:44 AM

Gold futures set record highs for the second straight day on Thursday as the $1,600 per troy ounce benchmark was well within striking distance, Bloomberg reports.

Concerns about debt in the U.S., which received a warning from Moody's Investors Service, and in Greece, which was downgraded and warned by Fitch Ratings, drove the yellowish metal into values never before seen. The U.S. dollar lost value when held against six counterpart currencies as Ben Bernanke, federal reserve chair, said the nation is considering additional monetary stimulus.

"There is still the risk that the crisis in Europe will prevail further," owner Peter Fertig of Quantitative Commodity Research in Germany told the news service, noting one factor that can drive bullion prices higher.

At 6:24 a.m. on Thursday, gold futures peaked .48 percent, a $7.60 lift to $1,593.10 per troy ounce.

Since early May, the yellowish metal has been fluctuating yet has driven higher in recent days, Reuters reports. The record-high drive begun Wednesday continued on Thursday with gold futures touching prices never seen before as the precious metal gains for nine days in a row.

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