Reuters(London) reports the US dollar firmed up against Euro while gold fell about 3 percent. Spot gold <XAU=> was quoted at $786.15/788.65 an ounce at 1304 GMT, down from $804.50 late in New York on Thursday, when it slipped 5 percent. Earlier it touched a low of $777.80. Matthew Turner, at commodity analysts VM Group says: [...]
MIneweb(EDITORIAL) reports on Wednesday strong in-flows of cash from investors were attracted to the listed gold stocks as interest rates were cut by some leading banks. As an illustration of the extent of volatility, BHP Billiton, the world’s biggest diversified resources group, opened for trade in on Wednesday London at GBP 10.13 a share, down sharply from [...]
MarketWatch reports how sentiment influences gold’s short term markets after having US legislation pass the bill on the bail-out plan on Friday last week. Take Friday, the day in which the much-vaunted Wall Street bailout legislation finally received Congressional approval. There is no reasonable doubt that this legislation will have significant long-term inflationary consequences. And yet, [...]
The Motley Fool(Editorial) reports with the global crisis, gold is still in favor. Amid this financial crisis of historic proportions, gold is once again gaining favor as a tangible store of honest value. Though often maligned as an outdated relic, gold has tripled in value since 2001. Meanwhile, the greenback has declined 33% against a basket [...]
AP via Yahoo! News reports gold prices gain the highest in a day gain ever in terms of the dollar. Gold for December delivery rose as much as $90.40, or 11.6 percent, to $870.90 an ounce in after-hours trading on the New York Mercantile Exchange after jumping $70 to settle at $850.50 in the regular session. For [...]
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