U.S. gold futures dipped 1 percent on Thursday as a better tone to the economy dampened safe-haven demand, while an imminent bankruptcy filing by U.S. automaker Chrysler should not affect platinum group metals demand. For full story, click here
Bloomberg.com reports gold prices made the biggest jump in 26 years with the worst financial crisis since 1920s. Gold also headed for its largest weekly gain since October 1999 after the U.S. yesterday took over American International Group Inc., the country’s largest insurer, and Lehman Brothers Holdings Inc. filed for bankruptcy. The Federal Reserve today almost [...]
Business Day reports with turmoil in the US Banking industry, commodity markets diverged causing gold to gain by more than 2%. As Lehman Brothers filed for bankruptcy protection and Bank of America Corp agreed to acquire Merrill Lynch for $50bn, the dollar lost 2% against the yen, sparking talk of a US rate cut and potentially [...]
Get our independent commentary on gold trends and companies delivered to your inbox.
