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Gold dropped, headed for its third weekly decline, on signs that Europe’s crisis is worsening as concern grew about the health of Spanish banks and Fitch Ratings downgraded Greece’s credit rating, curbing demand for the metal
Regards,
Don
FOREX
- Gold prices fell to a 4-1/2-month low on Monday, as the dollar strengthened and investors liquidated risky assets after political deadlock in Greece fed worries that the country could default, worsening the euro zone debt crisis
Regards,
Don
- Oil prices fell on Monday as Greece’s inability to form a coalition government and concerns about a slowing Chinese economy fed worries about the outlook for petroleum demand.
Regards,
Don
Gold struggled to make headway on Thursday after three straight sessions of losses, with investors still worried about political deadlock in Greece and problems in Spain’s banking sector.
Regards,
Don
- Copper futures rose on Thursday, bouncing off the previous session’s three-week lows as some Chinese investors took advantage of the dip in prices to cover short positions and restock.
Regards,
Don
Canada’s dollar climbed against its U.S. counterpart on Tuesday after upbeat U.S. manufacturing data helped ease investor concerns about the economic outlook of Canada’s largest trading partner.
Regards,
Don
Canada’s dollar hit a seven-month high against its U.S. counterpart on Friday and was on track for its best month this year after the greenback slid broadly on signs of flagging U.S. growth.
First-quarter U.S. economic growth cooled as businesses cut back on investment and restocked shelves at a slower pace.
Regards,
Don
Canada’s dollar strengthened against its U.S. counterpart as stocks and crude oil rallied amid speculation stronger inflation and economic growth will spur the Bank of Canada to consider higher interest rates.
Regards,
Don
The price of gold was leveling off from its two-week low Tuesday morning amid a mixed U.S. dollar.
Gold for June delivery, the most actively traded contract, edged up $6.90 to $1,639.50 an ounce. Yesterday, gold ended at a 2-week low as the dollar strengthened against the euro and other major currencies following significant developments in France and the Netherlands. Impacting commodities were also some weak economic data from China and Europe, that sent stocks spiraling down across Europe.
Regards,
Don
More on this topic
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What’s Happening to Gold and Silver Prices?
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Brent crude oil gained on Thursday, bouncing from a two-month low set the previous session, as a Spanish bond auction attracted strong investor demand, alleviating some concerns about the health of the euro zone economy.
Spain’s Treasury issued 2.5 billion euros ($3.3 billion) in two- and 10-year bonds on Thursday at the top end of the targeted amount, although yields ticked higher than at the previous January auction.
Regards,
Don
The price of gold was lingering below the $1,650-mark Wednesday morning amid a generally steady U.S. dollar.
Gold for June delivery, the most actively traded contract, eased $3.50 to $1,647.60 an ounce. Yesterday, gold snapped its two-session losing streak to end marginally higher as investors weighed some encouraging economic data from Germany that eased euro zone debt concerns. Gold prices were also influenced by rising oil prices and the U.S. equity market.
Regards,
Don
More on this topic
(What's this?)
Gold Price Forecast for the Remainder of 2012
(Investment U, 5/18/12)
What’s Happening to Gold and Silver Prices?
(Learn Mining News, 5/14/12)
Everything You Need to Know About Gold Prices
(Money Morning, 5/11/12)
Gold: The Bargain of a Lifetime
(Wealth Daily, 4/27/12)
The price of crude oil was little changed Wednesday morning as traders await cues from the official inventories data from the EIA, due out later during the session.
Light Sweet Crude Oil (WTI) futures for May delivery, edged down $0.04 to $104.16 a barrel. Yesterday, oil ended at a 2-week high on global cues, with some encouraging economic data that showed economic sentiment in Germany improved for the fifth straight month, while Spain’s treasury bill auction saw strong demand although at a higher cost.
Regards,
Don
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