Futures Market News
Gold futures projected to climb as dollars endures tension
May 01, 2012 12:37 PM
The world's reserve currency slumped to its lowest value in four weeks against the shared currency of the European Union in anticipation of a report from the U.S. government projected to indicate last month saw the pace of manufacturing slow down. But U.S. business activity developed more slowly last month since late 2009, economic data revealed on Monday.
"The market may be factoring in the hopes of possible policy easing after some of the softer data numbers that came out" of the U.S., analyst Natalie Robertson with Australia & New Zealand Banking Group in Melbourne told the news source. "Buyers will come into the market when they see a certain direction or momentum buying occurring."
At 8:18 a.m. on Tuesday, gold futures increased 0.15 percent, a $2.50 lift to $1,666.70 per troy ounce.
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