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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 remain above $1,600 per troy ounce threshold

Jul 27, 2012 09:16 AM

Gold futures were on the rise on Friday, hovering about the highest price in 21 days as the world's reserve currency lost some value against the shared currency of the European Union, according to Reuters.

President Mario Draghi with the European Central Bank said the institution he leads will do whatever is required to preserve the integrity of the euro, which has suffered during the past two-plus years as the sovereign debt crisis attacks 17-nation markets, banks and public finance systems.

"The biggest concern is the momentum. We've seen these moves higher on a number of times in past week but it doesn't seem to have much conviction," chief executive Ross Norman with precious metals trader Sharps Pixley told the news source. "We need to see ongoing rallies of the sort we've seen in the last few days to convince the market that this is not just a relief rally but something more sustained."

At 9:33 a.m. on Friday, gold futures climbed 0.4 percent, a $6.50 lift to $1,626.30 per troy ounce.

Bloomberg reports advances for the yellowish metal also are attributable to conjecture about worldwide central banks preparing to spur economies.

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