Futures Market News
Gold futures projected to climb as dollars endures tension
May 01, 2012 12:37 PM
The world's reserve currency slumped to its lowest value in four weeks against the shared currency of the European Union in anticipation of a report from the U.S. government projected to indicate last month saw the pace of manufacturing slow down. But U.S. business activity developed more slowly last month since late 2009, economic data revealed on Monday.
"The market may be factoring in the hopes of possible policy easing after some of the softer data numbers that came out" of the U.S., analyst Natalie Robertson with Australia & New Zealand Banking Group in Melbourne told the news source. "Buyers will come into the market when they see a certain direction or momentum buying occurring."
At 8:18 a.m. on Tuesday, gold futures increased 0.15 percent, a $2.50 lift to $1,666.70 per troy ounce.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Wealth Empowerment Guide
Learn how to trade commodity futures and options using funds from an IRA or 401(k)!
Is your IRA parked in some mutual fund, going nowhere? Why not take control? Trade futures direct with a broker, trade online, and even invest in a managed account with a Commodity Trading Advisor. We are here to help!
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.