Gold futures were driving toward their first weekly loss in three weeks amid euro zone finance ministers reaching agreement on an emergency bailout package for Greece, Bloomberg reports. The multi-billion dollar pact is believed to be what will prevent the contagion of the sovereign debt crisis from widening its scope and snaring other member nations… Read more.
Silver futures, considered the volatile metal due to the tendency to suddenly rise or fall in price with or without warning, dropped below the $40 per troy ounce benchmark on Wednesday. The loss in price was prompted by speculators' profit booking and a price drop in New York on Tuesday, according to The Hindu. Euro… Read more.
Legislators and policy makers driving toward resolutions to debt crises pulled down gold futures on Wednesday as the precious metal sank below the $1,600 per troy ounce benchmark, Bloomberg reports. Forty-eight hours after setting record prices and breezing by the threshold, gold futures dropped as the euro grew against the U.S. dollar. President Obama was… Read more.
Gold futures are poised to increase in value for the 12th straight day on Tuesday on concerns about debt turmoil in the U.S. and the euro zone, Bloomberg reports. On Monday, the precious metal set a new record with its 11th straight day of gains, marking the longest consecutive-day winning streak in more than 90… Read more.
Gold futures dropped in value Friday morning after debt worries in the euro zone and the U.S. prompted investors to sell bullion after it notched record highs earlier in the week, Bloomberg reports. The record price for the precious metal now stands at $1,594.45 per troy ounce, which was set on Thursday. On Wednesday, gold… Read more.
New record highs came Wednesday morning for gold futures, which crashed through top prices that had remained for 10-plus weeks, Bloomberg reports. The CBC reports the yellowish metal's record-price drive was propelled by concerns about the global financial and economic turmoil. As the sovereign debt crisis tears through the euro zone and ratings services downgrade… Read more.
Demand for metals used in manufacturing helped push up silver prices more than 5 percent on Tuesday, according to published reports. The U.S. Commerce Department released a report indicating factories' need for metals rose 0.8 percent in May, a welcome change to the 0.9 percent fall for the same figure in April, the Associated Press… Read more.
Debt worries on both sides of the Atlantic Ocean are poised to push up gold prices on Wednesday, Bloomberg reports. U.S. leader President Obama invited Democratic and Republican lawmakers alike to gather and discuss government finances. He noted he stands against a measure that would serve as a short-term increase to the U.S. debt limit… Read more.
All eyes are on the debt market these days. Volatility in the debt market is forcing investors and traders to shift their assets as the global markets spin out of control. News of Greece defaulting on its bonds, the US raising its debt ceiling, and economic activity in the Far East have traders and investors… Read more.
Reduced results on the Dollar index pushed up gold futures on Wednesday. MarketWatch reports the index slipped from 75.441 to 75.22 on Tuesday eve, which drove gold futures beyond $$1,490 per troy ounce. Gold futures and the U.S. dollar typically perform the inverse of one-another. "The recent dollar strength seems to have just come to… Read more.