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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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Metals gain on debt news

Jan 12, 2011 04:14 PM

The value of precious metals rose as Japan announced it will invest in European bonds and a Fed official stated adjusting stimulus spending is a possibility, Bloomberg reports.

To prevent ongoing asset purchasing from backfiring, the U.S. Federal Reserve could reduce the program, according to Philiadelphia Fed president Charles Plosser.

"The Fed will most likely stay on its path of easy monetary policy for longer, rather than risk derailing the recovery with a return to policy normalization prematurely," according to a Wednesday report written by Edel Tully, an analyst at UBS in London. "Such an environment remains positive for gold, as does rising European debt concerns."

Prices for gold futures for February delivery increased 3.9 percent to $1,388.20 per troy ounce. March-delivery silver futures increased 0.16 percent to $29.665 per troy ounce. March-delivery palladium futures increased $27.30 to $811.05 per troy ounce.

Japan said it will purchase European bonds, becoming the second nation to line up support for the Euro zone and its debt-hobbled banks and disheveled public finances.

"The market focus is clearly on the problems within the euro zone," Yousuke Hosokawa, a senior currency dealer in Tokyo at Chuo Mitsui Trust & Banking, told Bloomberg.

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