Talking to people in the Chinese market over the weekend, writes Jeff Toshima, Tokyo director of the World Gold Council, in today's Nikkei Money, I was amazed to discover the number of gold saving accounts at Industrial and Commercial Bank of China has grown above 1,000,000 within a year of ICBC launching the service.
Gold prices rose in Europe on Wednesday, as a retreat in the dollar, rising oil prices and caution ahead of a sale of Portuguese bonds later in the day all boosted interest in the precious metal.
U.S. stock indexes were set to rise at the open on Wednesday after a healthy bond sale in Portugal and signs of strength in the U.S. banking sector.
The risk that parlous government finances will trigger sovereign debt defaults remains one of the biggest threats facing the world in 2011, according to the World Economic Forum.
European stocks and the euro both rose on Wednesday on hopes Portugal will get through a key bond auction unscathed and policymakers will boost a rescue fund that debt-scarred euro zone countries may need to tap.
U.S. stock index futures rose sharply on Wednesday after a healthy bond sale in Portugal and signs of strength in the U.S. banking sector.
The European Union's top economic official called on Wednesday for a stronger European financial safety net as Portugal, seen as the next candidate for a bailout, comfortably sold its first debt of the year.
U.S. stock index futures rose sharply on Wednesday, tracking global stocks, after a healthy bond sale in Portugal eased worries about Lisbon's ability to finance itself.
The European Union's top economics official called on Wednesday for a strengthening of Europe's financial safety net as Portugal, widely seen as the next candidate for a bailout, returned to the market for funds.
Portugal is likely to pay record high premiums to place debt on Wednesday, but recent bond buying by the European Central Bank should avert a dramatic rise in yields to levels that prompt the country to seek a bailout.
The euro rose weakly against the dollar on Wednesday while Asian stocks edged higher, but investors were increasingly nervous ahead of a key bond sale by ailing euro zone member Portugal later in the day.
Euro zone finance ministers are likely to consider next week the option of raising the effective lending capacity of the currency bloc's rescue fund as part of efforts to calm sovereign debt markets, euro zone sources said.
Euro zone finance ministers are likely to consider next week the option of raising the effective lending capacity of the currency bloc's rescue fund as part of efforts to calm sovereign debt markets, euro zone sources said.
Euro zone finance ministers are likely to consider next week the option of raising the effective lending capacity of the euro zone rescue fund as part of efforts to calm sovereign debt markets, euro zone sources said.
Traders are talking about buying dips again, concurs a Hong Kong dealer, noting that Asia physical market remains very tight for Gold Bars. Reuters says the Hong Kong premium for wholesale Gold Bars over benchmark London prices today held at $3 per ounce, a near 30-month high.
US stocks advanced in early trade on Tuesday as Alcoa kicked off the earnings season by beating forecasts, while Japan’s pledge to buy eurozone bonds eased concerns about eurozones debt.
Portugal's central bank predicted the economy would shrink this year, painting a gloomier outlook just as the government sought on Tuesday to quash persistent talk of a bailout.
Japan promised on Tuesday to buy euro zone bonds this month in a show of support for Europe's struggle with a seething debt crisis.
Portuguese Prime Minister Jose Socrates attempted on Tuesday to put a floor under persistent talk that his country will seek an international bailout, saying there are no such plans and that the 2010 budget gap was lower than its goal.
Spain plans to issue a 10-year syndicated bond this month, a Treasury official told Thomson Reuters service IFR on Tuesday, replicating last year's issuance pattern as jittery markets push its yield spreads near euro-era highs.
Stock index futures indicated a higher open for Wall Street on Tuesday after Alcoa
, the largest U.S. aluminum producer, kicked off the earnings season by beating forecasts.
U.S. stock index futures pointed to a higher open on Tuesday as the fourth-quarter earnings season started with a stronger-than-expected profit from Alcoa and higher outlooks from several retailers.