The prices of precious metals increased early Tuesday as U.S. Fed chairman Ben Bernanke and his peers conduct the central bank’s final meeting of 2010 and ponder measures to jumpstart the sluggish U.S. economy. Immediate-delivery gold surpassed $1,400 per troy ounce and was valued at $1,406.82 per ounce after 5 p.m. in Seoul. Silver rose 1.1… Read more.
Precious metals increased Monday following Fed chief Ben Bernanke telling 60 Minutes that the U.S. economy might be due for additional stimulus funding, Bloomberg reports. Gold futures were trading no more than one percent off the November 9 record price of $1,424.30. Futures for silver, which has increased 77 percent this year, increased 2.4 percent… Read more.
Global commodity futures markets experienced a major correction over the last five days of trading, as the bullish news from Benjamin Bernanke and the Federal Reserve gave way to much more bearish sentiment from the People's Bank of China and Ireland. The Thomson Reuters/CRB Index, which tracks the prices of 19 key raw materials, dropped… Read more.
Commodity futures brokers and traders anticipated Wednesday that U.S. Federal Reserve chairman Benjamin Bernanke would put pressure on the dollar and boost key commodities by buying hundreds of billions of dollars of bonds. Crude oil futures, which are highly responsive to movements in the greenback, rose sharply ahead of the expected announcement. On the IntercontinentalExchange, West… Read more.
U.S. Stock index futures pointed to a day of positive and optimistic trading – though with the volatility of election day results, there's still plenty of room for error. Perhaps more importantly, a general consensus among bankers has been reached about the size of the quantitative easing package, which is now estimated to come in… Read more.
There are shades of the 1930 Smoot-Hawley Tariff in today's debate over the global "currency war," as Brazilian finance minister Guido Mantega referred to the current state of affairs. The tariff, a protectionist measure that levied taxes on foreign imports, is often credited with setting off a round of retaliatory measures and exacerbating the impact of… Read more.
Financial markets were consumed this week with talk of quantitative easing – the prospect that the Federal Reserve will buy assets to pump liquidity into the economy and stimulate economic recovery. Also called monetary stimulus, QE is often thought of as "priming the pump." Once the money is injected, the theory goes, it will drive… Read more.
It appears more and more likely that Federal Reserve chairman Benjamin Bernanke will engage in another round of asset-buying to stimulate growth in the economy – and that prospect is lighting a fire under metals futures across the board. Gold set yet another record, as Comex December gold futures rose $6.10 to $1,346.40 per troy… Read more.
U.S. firms cut a surprising 39,000 jobs in September, data from ADP Employer Services showed, after a revised increase of 10,000 jobs from July to August. The news renewed fears that the economic recovery, already marginal, would stall and possibly reverse course. The ADP report covers only private sector jobs; public sector hiring and firing… Read more.
Silver futures rose on Tuesday, after Federal Reserve chairman Benjamin Bernanke said that the current inflation rate may be too low, and that the Fed may buy more debt if unemployment fails to improve. After a meeting of the Federal Open Market Committee, Bernanke said that inflation is at "levels somewhat below those the committee… Read more.