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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 dip toward $1.6k

Aug 14, 2012 03:33 PM

Gold futures drew down toward the milestone price of $1,600 per troy ounce on Tuesday as healthy economic data from the U.S. suggested monetary stimulus to boost the economy was not imminent, Reuters reports.

The nation hosting the globe's largest economic system saw retail sales climb for the first time in four months, also marking the biggest increase since this past February. Demand rapidly grew for items like cars and electronics, which suggested that consumers may be able to propel economic growth during this quarter.

"It looks like the gold market will continue to be held up by the sentiment of expected central bank stimulation," states a Tuesday report authored by Marex Spectron Group, according to Bloomberg. "The downside risk is limited."

At 2:42 p.m. on Tuesday, gold futures dropped 0.67 percent, a $10.80 drop to $1,601.80 per troy ounce.

Gold was set to climb in value on Tuesday as central banks were projected to intervene and bolster their respective economies, according to Bloomberg. Concerns are growing for the euro zone and the sovereign debt crisis' impact on investor confidence, Bloomberg reports.

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