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The slowing economic rebound and the sovereign debt crisis are likely to drive up the value of gold futures on Monday for the sixth straight session, Bloomberg reports. Not since this past April has bullion performed strongly for six straight days. During more than half of the trading days in April, gold futures broke record high… Read more.
A vending machine at a London mall began selling one of the most precious commodities on Friday, the Guardian reports. Britain's first gold vending machine opened at the Westfield Shopping Center amid a high retail demand. Benefits include an instantaneous delivery of goods when making a payment, a perfect option for last-minute gift buyers and… Read more.
Concerns about debt in the euro zone deepening helped push up gold prices on Tuesday morning, Bloomberg reports. Belgium becomes the newest addition to the stable of euro zone nations to have its credit rating fall into question when Fitch Ratings reduced its outlook to negative on Monday. Standard & Poor's gave notice this past… Read more.
Concerns about debt-hobbled banks in the euro zone pushed up gold futures to the precious metal's highest values in one week on Monday, Bloomberg reports. Italy joined the list of Europe's troubled nations last week when Standard & Poor's slashed its credit rating to negative from stable, rationalizing the downgrade because of an economic growth… Read more.
An outbreak of foot and mouth disease in South Africa is expected to harm the nation's wool industry, Bloomberg reports. The wool industry postponed a weekly auction scheduled for Wednesday evening in Port Elizabeth. Additional sales also were thrown into question due to the ban placed exports of cattle, sheep, pigs and their byproducts. "The… Read more.
Precious metals' prices shot up as the dollar strengthened and three European nations announced they will sell bonds, Bloomberg reports. The price of gold increased 0.5 percent to $1,376.20 per troy ounce just before 6 p.m. in South Korea. Achieving its largest advance in one week, silver for immediate delivery increased 1.3 percent to $29.0462… Read more.
Precious metals' prices increased on Monday as China declined to increase rates this past weekend and eurozone leaders looked forward to a summit later this week to discuss halting the debt crisis tearing through banks, Bloomberg reports. February delivery gold futures increased $10.20 in New York reaching $1,395.20 per troy ounce. March-delivery silver futures surged… Read more.
Investors unconfident about the success of bailout packages for Greece and Ireland are redirecting their interests toward precious metals to hedge the insecurity, Bloomberg reports. Silver prices increased 2.4 percent on Wednesday after having shot up 15 percent last month, the largest increase since May 2009. Gold reached record prices in euros and analysts predicted… Read more.