Gold prices increased yesterday, and were on track of registering their biggest monthly gain since November 2009. Gold for June delivery increased by 0.18 percent to USD $ 1533.90 an ounce. The increase in price was spurred by a weak dollar and increasing inflation in the US economy. The US Dollar declined to its lowest…Read more
Crude Price Outlook
Crude Oil Price Update- Fall in Price Due To Signs of Slow US Economy
Oil prices dropped in New York yesterday due to signs that the US Economy is slowing down and the demand of oil is decreasing. WTI crude future for June delivery fell by 0.30 percent to USD $ 112.52 a barrel. Brent crude future for June delivery fell by 0.31 percent to USD $ 124.63 a…Read more
Currencies Update- USD Declines Against Major Currencies On Account of Fed Maintaining Low Interest Rates
The US Dollar depreciated against all major currencies, after the US Federal Reserve Chairman, Ben Bernanke, announced that the Fed shall continue with its expansionary monetary policy and maintain overnight lending to banks between 0 and 0.25 percent. The Euro-USD exchange rate rose by 0.4389 percent to its value of 1.4853, while the USD-JPY exchange…Read more
Gold and Silver Price Update-Fed’s Decision of Low Interest Rates Increases Demand for Gold
Gold and silver recorded considerable gains after the Fed announced its plans of maintaining low interest rates in order to spur the US economy towards recovery. Gold future advanced by 0.91 percent to USD $ 1530.90 an ounce, while silver future advanced by a massive 4.81percent to be at USD $ 48.20 an ounce. The…Read more
Crude Oil Price Update-WTI Advances Due To Fed Continuing Low Interest Rates
Oil prices increased in New York, after the US Federal Reserve announced its plans of continuing with its relaxed monetary policy in order to bolster the US economy. WTI crude future for June delivery rose by 0.55 percent at USD $ 113.38 a barrel. Brent future increased by 0.38 percent to USD $ 125.61 a…Read more
Currency Price Update 27th April 2011-Dollar, Yen Depreciate, Australian Dollar Rises on Speculation of Increased Borrowing Rates.
The Greenback depreciated to its lowest level in two years against a basket of currencies, as speculators believed that the Fed shall continue to inject money into the US economy after its Quantitative Easing plans of purchasing Treasury Bonds worth USD $ 600 billion expires in June. The Fed is also expected to maintain overnight…Read more
Gold and Silver Price Update 27th April 2011- Depreciation in Greenback Increases Price of Gold
Gold prices neared its record levels, as gold continued to make the inroads which it has been making this year on account of Europe’s sovereign debt, the crisis in Libya, the earthquake and tsunami in Japan, and the rising debt of the USA. God future for June delivery rose by 0.37 percent to USD $…Read more
Crude Oil Price Update 27th April 2011-Prices Fall For Third Consecutive Day in New York
Crude oil prices gained a bit after falling for a third consecutive day at NYMEX in New York, which is their longest losing streak in over a month. WTI for June delivery was priced at USD $ 112.39 a barrel. Meanwhile, Brent for June delivery was at USD $ 124.12 a barrel. The decline in…Read more
Currency Price Update 26th April 2011-Sterling Falls Against Dollar On Account of Slowdown in Factory Orders.
The British pound declined against the US Dollar, falling by 0.07 percent to be at 1.4617 against dollar.The Euro increase by 0.25 percent against the dollar to be at 1.4617 against dollar, while the dollar fell against the Japanese Yen by 0.1576 percent to be at 81.7045 against the Yen. The decline in the value…Read more
Gold and Silver Price Update 26th April 2011- Fall in Silver Prices Stretches to Gold Too
Silver prices fell on Tuesday, dragging with them the price of gold and oil downwards too. The price of silver fell by 2.78 percent to be at USD $ 45.86 an ounce, while the price of gold was at USD $ 1504.70 an ounce, decreasing by 0.29 percent. The drop in the price of silver…Read more