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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 in value as European debt concerns persist

Sep 12, 2011 08:39 AM

Gold futures kicked off the week on the downswing after investors compensated for equity losses by selling holdings of the precious metal, Bloomberg reports.

Conjecture about German Chancellor Angela Merkel preparing for Greece to default prompted stocks in Europe and Asia to fall as the Aegean nation continues its travails and inability to escape the clasp of the sovereign debt crisis tearing through the euro zone.

"The margin clerks will be sharpening their knives today and will take dead aim even upon gold if that is where they think they can find liquidity," states the Monday edition of the Gartman Letter, a Southeast Virginia newsletter edited by economist Dennis Gartman. A handful of investors "will argue that gold will prove valuable and will hold its value even as stock prices plunge, and in the long run they may well be right."

At 9:17 a.m. on Monday, gold futures dropped 1.01 percent, an $18.80 slip to $1,840.70 per troy ounce.

Reuters reports the European equity markets scraped their lowest values in more than two years as fears about the deepening sovereign debt crisis widened.

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