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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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Intervention chatter poised to benefit gold futures

Aug 17, 2012 03:15 PM

Gold futures were poised to climb on Friday for a third consecutive trading session amid conjecture that the globe's two largest economies are set to intervene to prompt economic growth and development, according to Bloomberg.

The U.S. and China, respectively the biggest and second-biggest economies in the world, are likely to move forward with monetary easing policies to prompt growth in their respective economies. The Chinese leader said that might be the case earlier this week and chairman Ben Bernanke with the U.S. Federal Reserve is preparing to convene a yearly symposium for his staff in Jackson Hole, Wyoming.

"The U.S. economic recovery is still fairly opaque," founder and senior resource analyst Gavin Wendt with Mine Life Pty in Sydney told the news source. "There isn't a lot of growth. We've seen some bright spots but sometimes they turn into dark spots the next time the data comes out."

At 10:12 a.m. on Friday, gold futures fell 0.19 percent, a $3 loss to $1,616.20 per troy ounce.

Reuters reports the precious metal was set to track upward ticks by the shared currency of the European Union on Friday after the leader of Germany endorsed the European Central Bank's plan to confront the sovereign debt crisis.

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