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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 edge down after easing-spurred rally

Sep 18, 2012 03:28 PM

Gold futures cooled off on Tuesday after investors cashed in gains from recent rallies, according to Reuters.

After U.S. Federal Reserve chairman Ben Bernanke announced last week that the institution he leads will embark on a third round of quantitative easing, bullion embarked on a rally that saw it advance well beyond the milestone price of $1,700 per troy ounce. But demand for the yellowish metal also is a potential consequence since the intervention might prompt inflation.

"I would simply call it profit taking, if you want. But I think it's within the range of a solid performance that we've seen over the last two weeks or even a month. So nothing unusual," analyst Dominic Schnider with UBS Wealth Management in Singapore told the news source. "So from that angle, the view doesn't change. $1,950 remains the three-month target on the back of investors searching for real assets, the need for real assets. The risk for further dollar weakness is clearly here a supportive factor."

At 1:59 p.m. on Tuesday, gold futures edged down 0.06 percent, a $1 loss to $1,769.60 per troy ounce.

The Wall Street Journal reports the precious metal achieved its highest price in six months last week following the Fed's announcement.

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