Futures Market News
Gold futures gain as intervention conjecture gains steam
Apr 10, 2012 01:18 PM
Gold futures are set to mark a third consecutive trading session of gains on Tuesday, pushed by conjecture about the central banks of the globe's two top economic powers intervening to spur development and growth, according to Bloomberg.
Ben Bernanke, chair of the central bank of the U.S. - the globe's top economy, said on Monday that the U.S. economy is not yet fully recovered from the Great Recession. China, the second-largest world economy, reports March's trade surplus was unexpected and fuels speculation about more economic hiccups.
"Gold appears to have risen on safe-haven buying due to concern about global economic growth after China's import growth missed forecasts," executive director Mark O'Byrne with brokerage GoldCore of Dublin told Bloomberg. "The poor U.S. jobs number has also led to an increased expectation of further monetary easing from the Federal Reserve."
At 10:04 a.m. on Tuesday, gold futures edged up 0.05 percent, a 90 cent lift to $1,644.80 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.