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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, silver futures climb after slump

Apr 04, 2011 07:58 AM

Gold futures were pushing up Monday morning following a national holiday in China that made the market less active. The precious metal was also boosted by strong economic data issued on Friday, Dow Jones Newswires reports.

Silver futures pushed beyond their 31-year-high prices, which was $38.16 per troy ounce.

"Good physical demand was seen under $1,420 on a scale-down basis, thus absorbing some of the liquidation due to the payrolls move," according to MKS Finance.

Shortly after 8:30 a.m. on Monday, gold futures were up 0.70 percent, a $10 increase to $1,438.90 per troy ounce. Silver futures were up 1.97 percent, a 0.743 cent rise to $38.475 per troy ounce.

The resiliency that gold demonstrated after Friday, which saw the precious metal slump then rebound, demonstrates its strength and ability to continue rising, according to one analyst.

"The price action appears to be consolidating the January $1,308 to March $1,444 up move," according to a note from Scotia Mocatta. "We believe the price action is continuation in nature, with an eventual resolve to the topside to $1,500."

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