Spot gold ran to a record high above $1,090 per ounce on Wednesday, latching on to a weaker dollar with continued support from the IMF's sale of gold to India's central bank.
Crude oil has replaced the dollar as the new reserve currency, according to Kevin Kerr, president & chief trading officer for Kerr Trading International.
The International Energy Agency will "substantially" downgrade its long-term oil demand forecast in its annual energy outlook next week, the second cut in a row, the Wall Street Journal reported on Wednesday.
Denbury Resources has agreed to buy Encore Acquisition for $3.2 billion to create one of North America's largest oil production and exploration companies.
Oil prices are expected to continue its upward trend, but trading will be volatile, CEO of Brazilian oil giant Petrobras, Jose Sergio Gabrielli de Azevedo, told CNBC.
Gold prices settled at another nominal high Tuesday as the dollar's slide to its lowest since August 2008 against the euro fueled buying of precious metals.
Citigroup is expected to be fined $600,000 by the Financial Industry Regulatory Authority over derivatives transactions that helped foreign clients avoid taxes on dividends, a source familiar with the matter said on Sunday.
The collapse of the auction-rate securities market is a largely forgotten part of the financial crisis, a disaster that was soon overwhelmed by bigger ones — except for the investors who were caught up in it.
Stocks resumed their ascent Friday, after snapping the week's winning streak on Thursday, as investors braced for a volatile day due to quadruple witching.
Stocks resumed their ascent Friday, after snapping the week's winning streak on Thursday, as investors braced for a volatile day due to quadruple witching.
Stocks resumed their ascent Friday, after snapping the week's winning streak on Thursday, as investors braced for a volatile day due to quadruple witching.
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