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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, euro strengthen as greenback dips

Mar 21, 2012 10:01 AM

Gold futures performed against their grain this month, gaining in value on Wednesday morning, according to published reports.

The yellowish metal was spurred higher in value by the upward drive of the 17-nation common currency, which gained from Greek leaders voting approval of the Aegean nation's second bailout since June 2010, Reuters reports. Thus far this month, losses to bullion have amounted to about 3 percent as the U.S. dollar gains strength on the back of brightening economic prospects.

U.S. Federal Reserve chief Benjamin Bernanke is scheduled to deliver testimony before Congress on Capitol Hill in Washington, Dow Jones Newswires reports. His words are likely to impact the performance of monetary units and the precious metal.

At 11:08 a.m. on Wednesday, gold futures climbed 0.29 percent, a $4.70 boost to $1,651.70 per troy ounce.

The precious metal and the world's reserve currency typically perform the inverse of one-another while gold and the euro often follow one-another's trajectory.

Gold futures are driving toward a 12th consecutive year of annual gains.

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