Gold for immediate delivery declined as the dollar strengthened, paring investors’ demand for the metal as an alternative to currencies. Silver reversed a fall to climb to the highest price since March 1980.
Spot gold dropped for the first day in four, losing as much as 0.4 percent to $1,403.65 an ounce before trading at $1,407.35 [...]
Posts Tagged ‘us economy’
Gold Drops From Record as Dollar’s Climb Cuts Investors’ Demand for Haven
November 8th, 2010 by Financial Writer
Tags: economic, economists, exchange rates, gold price, inflation, loans, money, precious metal, us economy, us stocks
more...German Finance Minister Attacks Fed Move Again : Report
November 6th, 2010 by Financial Writer
BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble renewed his criticism of the U.S. Federal Reserve’s move to buy $600 billion worth of government bonds, saying it undermined U.S. credibility and created uncertainty, according to a German magazine.
“I have great doubts about whether it makes sense to pump unlimited amounts of money into the markets,” [...]
Tags: european economy, european union, financial sector, Global Economy, monetary, us economy, world economic
GLOBAL ECONOMY-Global anger swells at U.S. Fed actions
November 5th, 2010 by Financial Writer
* China tells U.S. trade targets smack of central planning
* German finance minister says Fed policy “clueless”
* China tells U.S. trade targets smack of central planning
* Merkel to address U.S. money policy at G20 summit
* Obama says U.S. global economic leadership at risk (Recasts first paragraph; adds comments by Brazil’s Meirelles, Fed’s Bernanke, details throughout)
By [...]
Tags: central bank, economic recovery, Global Economy, money, stock market, us economy, us stocks
China’s Stocks Drop as Banks, Developers Fall on Rate Concern
November 2nd, 2010 by Financial Writer
China’s stocks fell for a second day after government officials said they would take further steps to control inflation after raising interest rates last month.
Industrial & Commercial Bank of China Ltd. and developer China Vanke Co. paced declines among financial stocks after the central bank said it will intensify the use of price tools to [...]
Tags: Asian stocks, bank of china, Chinese economy, economic, economic growth, economy recovery, financial markets, interest rates, loans, us economy
Bernanke’s Caution Doesn’t Dim View On Asset Buys
October 16th, 2010 by Financial Writer
BOSTON (MarketWatch)–While Federal Reserve Chairman Ben Bernanke was regarded as cautious about a second round of bond-buying to stimulate the economy, economists on Friday said the underlying message was still that some sort of program would be enacted.
“Bernanke knows that the market is allocating more than a 90% probability [of a second round of bond [...]
Tags: economists, economy recovery, Federal Reserve, inflation, loans, monetary, money, unemployment rate, us economy
Google trumps Wall Street targets, shares soar
October 14th, 2010 by Financial Writer
Google Inc (GOOG.O) eased fears that big spending would erode margins as its results blew past Wall Street’s targets, and the Web search leader revealed for the first time the strength of its fledgling mobile and online display ad businesses.
Analysts said strong growth across Google’s core advertising business led to a 25-percent surge in net [...]
Tags: business investment, economic recovery, financial markets, financial system, Global Economy, interest rates, investor market, us economy, wall street
Gold May Climb to Record $1,650 an Ounce on Fed Easing, Goldman Forecasts
October 13th, 2010 by Financial Writer
Gold may rally more than 20 percent from this month’s record to a high of $1,650 an ounce in 12 months as the Federal Reserve takes action to stimulate the U.S. economy, according to Goldman Sachs Group Inc.
Bullion may gain to $1,400 an ounce in three months and $1,525 an ounce in six months, analysts [...]
Tags: Federal Reserve, interest rates, monetary, us economic recovery, us economy
Wall Street feeling some of Main Street’s economic woes
October 12th, 2010 by Financial Writer
Analysts have recently slashed earnings estimates for a number of big players, and several firms have quietly fired staff. Many more layoffs are expected by early next year.
Reporting from New York — For a while, Wall Street seemed impervious to the economic woes clobbering Main Street, with bank profits, bonuses and share prices rebounding sharply.
Not [...]
Tags: business investment, economic growth, financial crisis, financial services, loans, unemployment rate, us economy, wall street
MIT prof among 3 Nobel economics winners
October 11th, 2010 by Financial Writer
A bleary-eyed Massachusetts Institute of Technology professor Peter Diamond was being driven home from Logan Airport by his wife early Monday when a colleague called to congratulate him on winning the 2010 Nobel economics prize.
It was the first Diamond had heard of the decision, on the last leg of a long trip from New Zealand.
“I [...]
Tags: economists, financial markets, financial system, unemployment rate, us economy
A New Bid to Prop Up Economy Brings Shrugs in Japan
October 5th, 2010 by Financial Writer
FOR years, Japan has flooded its moribund economy with money: interest rates near zero, asset purchases by the central bank and public works projects that have dammed the nation’s rivers and paved remote mountain roads.
Japan’s central bank redoubled that effort Tuesday, lowering its benchmark interest rate to a range of 0 percent to 0.1 percent [...]
Tags: central bank, economic growth, economic recovery, interest rates, japan's economy, money, stock market, us economy