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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 forecast to gain, poll indicates

Aug 28, 2012 01:49 PM

Bullishness abounds for gold futures, according to Bloomberg.

Anticipation of economic stimulus plans to be implemented by nations including the U.S. and China are prompting strong support for the prospects of increasing prices for the precious metal, a poll of traders and analysts administered at a Southern India conference this past Saturday revealed.

The yellowish metal is projected to drive to $1,800 per troy ounce by the end of this year, which would push gains on the year to 15 percent, a median forecast of the Bloomberg survey indicated.

"The euro zone has been quiet of late, but that doesn't mean the problems have disappeared," precious metals global head Jeffrey Rhodes with INTL FCStone Inc. told the news source. "The U.S. economy has been sluggish and there is a growing belief that there is going to be QE3 soon. This anticipation is driving the market."

At 11:57 a.m. on Tuesday, gold futures slipped 0.10 percent, a $1.70 loss to $1,673.90 per troy ounce.

Losses to bullion were minimized by gains to the common currency of the European Union, according to The Wall Street Journal.

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