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.
The price of gold futures dropped on Thursday, reflecting improved risk-taking sentiment as a result of positive economic data. The Department of Labor's initial seasonally adjusted jobless claims showed a drop of of 27,000 to 451,000 in the week ending September 4, indicating that the employment situation is, at the very least, not getting worse.… Read more.
The price of gold rose on Tuesday, as equity indexes looked set to end the month 4 to 5 percent in the red and economic news continued to frustrate hopes for a strong recovery. The yellow metal rose 0.82 percent to $1,249.30 per troy ounce. Silver, the other major precious metal favored by investors, climbed… Read more.
Gold futures didn’t manage to resist the general rout in higher-yielding assets, leaving investors in the yellow metal disappointed. In the past few weeks, gold has alternated between positive and negative correlations with equity indexes; today, they both fell. The spot price of gold lost $7.10 to $1,228.30 per troy ounce. Metals in general performed… Read more.
The price of copper futures rose on Tuesday morning, boosted by better-than-expected figures for U.S. manufacturing and rising producer prices. Production of consumer goods rose by 1.1 percent in July, while production of business equipment climbed 1.8 percent. Capacity utilization, a measure of the proportion of a production plant which is actually in use, increased… Read more.
The price of gold edged up again on Tuesday, driven by a falling dollar. On the Comex in New York, gold futures for December delivery briefly reached $1,231.10 per troy ounce, the highest price since July 1, reported Bloomberg News. Equities also had a positive day, with the major indexes up 1 to 2 percent.… Read more.
Traders retreated for safer havens on Tuesday, as they awaited signals from the Federal Reserve meeting that began at 8:15 a.m. The dollar climbed, pushing down the prices of a wide array of commodities. Copper slipped 1.3 percent by 12:30 p.m. EST, down to $3.31 per pound. Gold, meanwhile, dropped $1.30 to trade at $1,201.30… Read more.
The price of gold futures climbed for the sixth day in a row, touching though never decisively breaking through the $1,200 per troy ounce level. On Wednesday afternoon, the price of gold rose $10.70 to $1,198.20 per troy ounce. Gold set a record high in June of over $1,266 per troy ounce. Since then, the… Read more.
Gold and silver futures saw solid gains on Friday, as traders looked for haven assets that might perform better while the pace of economic growth in the U.S. slows. Gross domestic product data released by the Department of Commerce showed that while the economy continued to produce more – growing at an annual rate of… Read more.
The federal government released GDP growth figures on Friday, with the Department of Commerce reporting that the U.S. economy expanded at an annual rate of 2.4 percent – positive, but less than first-quarter figures of 3.7 percent or 2009’s solid 5 percent growth rate. The news had a generally negative impact on markets, as it… Read more.