By Kishori Krishnan – Exclusive to Gold Investing News With the price of oil falling more than 60 per cent from a peak in July, Iran has converted its financial reserves into gold to avoid future problems. Iran, the world’s fourth-largest oil producer, is facing declining revenue from its oil exports after crude prices tumbled. [...]
Continue reading "Crude tumbles, gold slips, demand surges"
Tuesday, September 9, 2008
MarketWatch reports gold falls for the 7th week as crude oil prices fell which decreased investment demand for gold. It dropped to $780.20 earlier, the lowest since November. All told, the benchmark gold contract has slumped about $50 an ounce in the seven trading sessions since Aug. 28. Mark O’Byrne, Executive Director of Gold & Silver Investments [...]
Continue reading "Gold falls to 10-month low as crude oil slides"
Friday, September 5, 2008
Nasdaq reports gold price fell slightly posting its sixth consecutive loss. Gold for December delivery closed at $802.80, down 40 cents on the session. Prices reached as high as $823.10 earlier in the day. Gold lost $32.40 on the week as the dollar moved to a multi-year high against the British pound and a multi-month best against [...]
Continue reading "Gold adds to recent slide, loses more than $30 on week"
Friday, July 11, 2008
Forbes reports India spot gold prices closed 1.6 percent higher on Friday keeping domestic buyers off. At 2:45 p.m. in London, gold was trading at $966, well supported by soaring crude prices, which hit an all-time high of $147 per barrel, rampant inflation fears, worries over the global economy’s health and as the dollar remained [...]
Continue reading "India spot gold rises 1.6 pct on overseas leads"
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Monday, November 17, 2008