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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 drive toward 13 percent gains thus far this year

Feb 03, 2012 10:23 AM

Friday saw gold futures slightly rise in value as the precious metal touched its highest price since the middle of this past November, according to Reuters.

Belief in the U.S. monetary policy remaining loose enhanced demand for bullion, combined with the U.S. Federal Reserve committing to preserve interest rates at record lows throughout this year and most of next year, were cited as drivers of the yellowish metal's climb, which is approaching 13 percent thus far this year. The U.S. Department of Labor is preparing to release payroll data on Friday, which one analyst said could push the price of gold even higher.

"Any better-than-expected jobs figure today will further add to risk appetite, which may push gold above $1,784," senior analyst Pradeep Unni with Richcomm Global Services told Reuters on Friday. "Disappointment in jobs data may drag gold below $1,730, but an extended sell-off is not envisaged."

At 7:46 a.m. on Friday, gold futures fell 0.10 percent, a $1.80 drop to $1,757.50 per troy ounce.

Healthy reports about strong manufacturing also contributed to the yellowish metal's climb in value, according to The Economic Times.

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