Oil prices fell on Tuesday after data showed the U.S. economy grew at a slower-than-expected pace last quarter and investors braced for weekly figures to show crude stocks rose in the world's top energy consumer last week.
Gold turned higher Tuesday despite a slightly higher dollar, as the metal remains firmly underpinned by investment demand based on the prospect of rising inflation and more gold acquisitions by the official sector.
Monday, 23 Nov 2009 | Posted By:
Robin Knight | Source: CNBC.com
The asset-price rally is running out of momentum and will soon crack, which could lead to a 30 percent correction in oil and a 20 percent correction in stocks, Sean Corrigan, chief investment strategist at Diapason Commodities Management, told CNBC.com.
Global stocks began the week in the green Monday, with gold prices hitting a new record high above $1,167 an ounce. Experts told CNBC risk aversion is coming back despite the rise in shares.
Gold retreated from a record high above $1,170 an ounce on Monday as dollar weakness pushed the metal through key technical resistance levels, fueling momentum buying after the metal's sharp run higher earlier this month.
Gold prices continue to make fresh highs but there could be a possible correction come 2010, warned Bill McQuaker, head of equities & director of multi-manager funds at Henderson Global Investors.
Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.
Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.
Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.
Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.
Oil fell nearly 1 percent on Friday as a stronger dollar weighed on prices and falling equities raised concern about the economy and the outlook for energy demand.
U.S. coal miner Cloud Peak Energy, a unit of Rio Tinto Plc, priced shares in its initial public offering below expectations on concerns the flotation was designed to help its parent's balance sheet rather than fund its own growth.
Markets zigzagged at the open on Wednesday after a mixed bag of economic data—jobless claims and personal spending rose above expectations but durable goods fell below forecasts... Read More
A week's worth of economic reports has been crunched into just three days this week, and Wednesday has its share of significant data, which include jobless claims, durable goods and consumer sentiment.... Read More