Oil rose toward $76 on Thursday, boosted by a rally in equity markets in Asia and Europe on expectations of strong economic growth in China and Germany.
Shares in Hong Kong and Shanghai climbed, with resources companies outperforming the broader market as news of mega-mergers also whetted risk appetite in the sector.
ETF Securities said ETFS Physical Swiss Gold Shares had a record day's trading volume on August 11 of 1.74 million shares, or $208 million. This represents the greatest one-day volume since its first US trading day on September 9, 2009.
Oil prices remained highly volatile in Asian trade Thursday as strong dollar and US crude inventories offset equity gains in the region.
Light sweet crude for September delivery was seen trading at $75.54 a barrel at 12.00 noon Singapore while Brent crude was at $76.31 a barrel in London.
Gold prices rose toward $1,230 an ounce in Europe on Thursday, close to the previous session's near seven-week high, as concerns over the outlook for economic growth supported investment demand for the precious metal.
Oil rose to over $76 on Thursday, boosted by a rally in Asian equities as investors focused on the prospects for accelerating Chinese demand for natural resources.
U.S. September crude climbed 19 cents to $75.61 a barrel at 0822 GMT (4:22 a.m. EDT), having earlier risen as high as $76.08. ICE Brent rose 35 cents to $76.82.
The yen dipped against the dollar on Thursday as jitters about whether Japanese authorities would take new steps to rein in the yen's rise left investors reluctant to chase it higher.
Investors are watching to see if the central bank will take more monetary easing steps -- such as expanding liquidity -- ahead of a meeting between Prime Minister Naoto Kan and Bank of Japan Governor Masaaki Shirakawa expected on Monday.
Gold prices remained vulnerable in Asian trade Thursday despite advanced marginally in early trade.
Gold for immediate delivery was seen trading at $1229.02 an ounce at 12.00 noon Singapore time while US gold futures for December delivery was at $ 1231.45 an ounce on the comex division of Nymex.
Gold edged up on Thursday, to just short of its highest since the start of July, as volatile equities and concerns about the global economy spurred buying from investors, but selling from jewelers capped gains.
Oil was under pressure on Thursday from a stronger dollar and brimming U.S. petroleum inventories, while modest gains in Asian equities provided support to a market focused on the prospects for economic growth.
The dollar edged up against the yen on Thursday with investors reluctant to chase the yen higher as they waited to see if the Bank of Japan or the government will take new steps to rein in the yen's rise.
Earlier, rumours had circulated in the market that the BOJ would hold an emergency policy meeting at 2 p.m. (0500 GMT). That followed a media report that the central bank had started considering additional monetary easing steps.
The Northeast region of the U.S., represented by the New England and Central Atlantic regions shown in Figure 1, typically account for over 80 percent of U.S. heating oil sales. As shown in Figure 2, the top 5 consuming States, in rank order, are New York, Massachusetts, Pennsylvania, Connecticut, and New Jersey. Heating oil is a distillate fuel, coming from the same boiling-range portion of crude oil as diesel fuel. However, unlike diesel fuel used in transportation, heating oil has no Federal...
Health conscious South Koreans are driving the growing demand for blueberries in the Asian country as they recognized the fruit's potential to ward off cancer, heart disease, strokes, infections, and other ailments
The Australian Dollar is steady after a relatively quiet night on the economic data front gave the markets little to draw on as far as the state of the economic recovery in the US and Europe is concerned.
The federal government has committed at least $8-billion (and counting) for the development of a nationwide high-speed intercity passenger railway system in almost three-dozen states. Rail advocates have long dreamed of an extensive railway grid that will provide clean, speedy, energy-efficient travel.
European and U.S. health authorities have banned a flu vaccine for children made by Australian biopharmaceutical CSL Biotherapies Australia.
Cigarette smoking has been clearly linked to increased risks of a number of cancers, including cancers of the lungs, colon, pancreas and bladder. But studies have yielded conflicting results as to whether smoking may boost a woman's odds of developing breast cancer.
German automaker Volkswagen AG struck a deal with workers at its Mexican plant to avoid a strike threatened by the factory's union
General Motors and China's SAIC Motor Corp deepened their ties to include the joint development of small engines and transmissions as the U.S. automaker seeks to draw on the allure of the fast-growing China market ahead of a highly anticipated IPO.
U.S. safety regulators have opened a preliminary investigation into a potential problem with the Kia Soul after a driver reported a complete loss of steering and limited braking in a two-month-old car.
General Motors Co will recall more than 243,000 model year 2009/2010 crossover sport utilities, mainly in the United States, to inspect safety belts for possible damage.
Mazda Motor Corp will recall 215,000 Mazda 3 and Mazda 5 vehicles sold in the United States because of the risk that they could lose power steering without warning.
General Motors Co will list its shares on the New York Stock Exchange and Toronto Stock Exchange after its initial public offering, a source familiar with the matter said on Wednesday.