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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 gain after four consecutive sessions of losses

Apr 19, 2012 10:14 AM

 

Gold futures, coming off four consecutive trading sessions of losses, gained in value on Thursday, according to The Wall Street Journal.

The precious metal benefited from weaker economic data released by the U.S., which renewed discussion about additional monetary easing by the U.S. Federal Reserve. The U.S. dollar, which loses value when the financial institution intervenes, dropped against the shared currency of the European Union amid the conjecture.

"Another set of dismal economic numbers" enhances discussion about a third phase of quantitative easing, analyst Sterling Smith with Country Hedging told Dow Jones Newswires. "Whenever that shows up, gold tends to catch a bit of a bid. Quantitative easing is the number one item that propels gold over the short term."

At 9:49 a.m. on Thursday, gold futures gained 0.79 percent, a $13 advance to $1,652.60 per troy ounce.

Applications for jobless benefits in the U.S. have been progressively gaining during the past few weeks, The Associated Press reports. As a follow to months of declines in the unemployment rate, the slowdown suggests hiring might be on the wane.

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