Copper futures pushed to their top value in 21 days on Wednesday in the aftermath of the fiscal cliff deal that U.S. political leaders reached, according to Reuters. Also benefiting the price of the reddish metal during the first trading session of 2013 was strong economic data released by China, the globe's top consumer of… Read more.
Political leaders in the globe's largest economy agreed on a deal that settled the fiscal cliff debacle, but also pulled down the value of the U.S. dollar and the Japanese yen, according to Bloomberg. The eleventh-hour agreement between President Barack Obama and Republican counterparts staves off the automatic application of more than $600 billion in… Read more.
Gold ended the year on an up note, rising in spite of strong news coming out of Washington, D.C., about the potential for a deal on the looming financial cliff. Bloomberg reports that gold prices rose an impressive 7 percent on the year, despite failing to near the record price set in September 2011 and… Read more.
Recent optimism regarding the fiscal cliff talks in Washington, D.C., has started to wear down somewhat, as the recent gains to oil prices faltered on Friday afternoon. Bloomberg reported on Friday morning that the energy commodity was set to see its largest one-week gain in roughly four months, as negotiations between U.S. President Barack Obama… Read more.
Gold futures were slipping on Wednesday, marking the first trade session of losses in four days, according to Bloomberg. Senior broker Kurt Pfafflin with Daniels Trading said debt troubles with Greece "drag on and on and on" even though officials and authorities conduct mass amounts of meetings for the sake of the betterment of the… Read more.
Crude oil prices climbed on Wednesday as the leader of the largest-consuming nation opted to cut short his vacation to return to conduct fiscal negotiations before the daunting end-of-year deadline, according to Bloomberg. More than $600 billion in tax increases and spending cuts are set to automatically begin next year if U.S. President Barack Obama… Read more.
Monday saw the Australian dollar edge downward against most of its rivals in the aftermath of rough waters of negotiations in the world's largest economy regarding the fiscal cliff, Bloomberg reports. So too did the monetary unit of New Zealand slip in value on Monday against most of its counterparts after the back-up plan issued… Read more.
Crude oil futures were losing value on Monday as concerns continued strengthening about stalled negotiations between political leaders regarding next year's automatic implementation of more than $600 billion in tax hikes and spending cuts, Bloomberg reports. Marking a third-straight trading session of losses, the energy commodity is sensitive to ongoing developments in the globe's largest… Read more.
Investors were cautious about committing to copper on Friday though the base metal was increasing in value, according to Reuters. One trading session after suffering sharp losses, copper futures were on the rise but the globe's largest economic system might be staring at the very real possibility of running into a double dip recession if… Read more.
South Pacific monetary units were losing value on Friday as political leaders in the U.S. made minimal progress to blunt the fiscal cliff debacle from pushing the world's largest economy into a double-dip recession, Bloomberg reports. The dollar of Australia marked a weekly loss against the U.S. dollar after the plan submitted by Speaker of… Read more.