Copper futures slumped on Monday, undercut by a rallying dollar and weaker risk sentiment in global markets. While the dollar gained over 50 basis points against a basket of six competing global currencies, copper futures for December delivery lost 2.65 cents to $3.664 per pound on the Comex – the biggest single-day loss for the… Read more.
Gold and silver futures jumped again on Wednesday, with commodity futures brokers and traders betting heavily that the Federal Reserve will once again engage in quantitative easing to push more liquidity into the faltering U.S. economy. Comex gold futures for December 2010 delivery gained $3.90 to $1,312.20 per troy ounce; earlier, the contract rose as… Read more.
Gold futures smashed through previous highs to set a new record above $1,300 per troy ounce on Tuesday, validating goldbugs around the world but sending a worrying signal about the stability of the global economy. Demand for gold and the rising price of futures typically indicates pessimism about the state of the markets; in particular,… Read more.
As volatility and uncertainty continue to eat at commodity futures traders and brokers' confidence, one asset class seems to draw interest week after week. Gold has been glittering since the beginning of the year, climbing nearly 20 percent while stock indexes flatline. As equities faltered in Monday's trading, December gold futures rose 90 cents to… Read more.
Silver advances to highest price since 1980; gold breaks $1,300 Gold and silver futures both rose on Friday morning, testing records. In silver's case, December delivery contracts hit the highest level since the Hunt Brothers tried and failed to corner the silver market in the 1980's. At that time, silver rose to nearly $50 per… 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.
On Thursday, silver futures hit the highest level the white metal has seen since 1980, which is remembered by some metals futures brokers as the year the Hunt brothers allegedly attempted to corner the market. At that time, silver prices increased ten times over to nearly $50 per troy ounce. Demand for silver was rising,… Read more.
With election season coming up and the U.S economy balanced on the knife-edge between recession and recovery, precious metals futures brokers and traders are uncertain which way to jump now that gold has hit a new high. Yesterday, spot gold hit $1,276.50 per troy ounce before settling at $1,269.70 per troy ounce, an increase of… Read more.
Although stock futures edged upwards in Tuesday trading, equities were overshadowed by a new record high in gold futures. Spot gold hit $1,272.20 per troy ounce – an increase of $27.10 – and gold futures for December delivery gained $27.30 to trade at $1,274.30 per troy ounce. Rising stocks indicate optimism in the global economy, while the surge in gold… Read more.
Amidst the roaring investment demand for precious metals like silver and gold, it can be easy to forget that another, significant portion of the market relies on these metals for manufacturing and consumer goods. India, the world's largest consumer of gold and one of the largest of silver, buys thousands of tons each year for… Read more.