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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 slip as 3Q closes

Sep 28, 2012 12:09 PM

Gold futures were slipping in value on Friday but not enough to disrupt the metal's achievement of quarterly gains as the final trading day of the third quarter of 2012 closes Friday afternoon, MarketWatch reports.

The strengthened U.S. dollar drew down bullion one day after the yellowish metal achieved its top price in seven months. Those gains were linked with the exposure of tender spots in the U.S. economy, which drove investors toward storing their wealth in bullion.

"The most obvious catalyst for gold to break higher this year is going to be good news out of Europe. Anything that is dollar negative is going to help gold move to fresh highs for the year," precious metals analyst David Jollie with Mitsui told Reuters. "To see resistance at the previous highs is not a major surprise. I think the market is still viewing this as period of consolidation, and not the end of a move."

At 10:50 a.m. on Friday, gold futures dropped 0.19 percent, a $3.30 loss to $1,777.20 per troy ounce.

The yellowish metal is en route to achieving gains of nearly 11 percent this quarter, representing the best three months since the second quarter of 2010, Reuters reports.

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