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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 climb as Indian jewelers manifest protest against tariff

Apr 05, 2012 03:04 PM

Gold futures were gaining in value on Thursday, prompted by the U.S. Federal Reserve indicating it has not laid plans to implement monetary easing, according to Bloomberg.

The U.S. dollar also lost value, benefiting the price of the yellowish metal, Dow Jones Newswires reports. Jewelers in India, the globe's second-largest consumer of the precious metal, are set to shutter their operations as a demonstration against tariffs applied on imports of bullion, according to Bloomberg.

"You have the release of the U.S. labor report tomorrow so there is some risk over the weekend," consultant Peter Fertig with Quantitative Commodity Research told Reuters. "For some investors (there is) risk and therefore they are closing short positions."

At 9:22 a.m. on Thursday, gold futures increased 0.87 percent, a $14 gain to $1,628.10 per troy ounce.

Earlier this year, India was supplanted by China as the globe's largest importer of the yellowish metal. China hosts the globe's most rapidly developing economy and the second-largest, which trails only that of the U.S.

The record price for gold futures is $1,923.70 per troy ounce as established in early September of last year.

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