Two top energy market operators redoubled their defense of speculators on Wednesday amid renewed concerns in the oil market, arguing that speculators are misunderstood and often too quickly blamed for price spikes.
The Gold Price ticked higher in London trade on Wednesday, holding above yesterday's 4-week lows to reach $1400 per ounce, as a rally in Japanese shares failed to prevent further losses in global stock markets.
The U.S. factory gate inflation in February rose 1.6 percent on a seasonally adjusted basis, following advances of 0.8 percent in January and 0.9 percent in December.
The Cruise Lines International Association predicts that about 16 million people will go on a cruise vacation this year, up 6.6 percent from 2010. According to industry experts, cruising makes up about 3 percent of the travel industry in the United States.
The aftermath of Japan's disastrous earthquake and tsunami could temporarily ease the rise in rare earth prices, but overall demand is likely to continue to outstrip supply for the next few years, an industry executive said.
The Gold Price dropped 3% to four-week lows vs. a rising US Dollar on Tuesday morning, as world stock-market and commodity prices sank on worsening radiation leaks from north-east Japan's earthquake-hit nuclear plants.
The Federal Reserve looks set to maintain its ultra-loose monetary policy on Tuesday as lofty oil prices and swooning stock markets after Japan's ravaging earthquake raised doubts about the economy's path.
Memo to central bankers:Best not to cite the price of the new iPad as an example of why inflation isn't a problem when you head into a working-class neighborhood.
NEW YORK, March 11 - In a closely watched case that could test the reach of U.S. antitrust law, four Chinese companies face powerful evidence that they colluded to limit production and fix prices of vitamin C in the United States. The evidence is so convincing, in fact, that the defendants have not contested the allegations.
Shares of private equity-backed HCA Holdings Inc, the biggest U.S. for-profit hospital chain, are expected to price at $30 in an oversubscribed initial public offering on Wednesday, sources with direct knowledge of the situation said.
The initial public offering of private equity-backed HCA, the biggest U.S. for-profit hospital chain, is well oversubscribed and could price above the planned range on Wednesday, sources familiar with the situation said.
The price of gold may touch $5,000 an ounce in the next 4 to 5 years, California-based Capital Gold Group Inc. says.
Chinese Deputy Housing Minister said on Wednesday the government will shell out $200 billion this year to build 10 million low-cost houses.
Gold Bullion slipped vs. a rebounding Dollar in London on Tuesday, briefly dropping 1.4% from yesterday's new record highs as world stock markets extended their losses.
The Gold Price rose new all-time highs vs. a falling US Dollar on Monday morning in London, hitting almost $1445 per ounce as European stock markets held flat and major-economy government bonds slipped, nudging interest rates up.
A spike in food and oil prices has made the threat of inflation more acute, leading central banks said on Monday, but they warned tightening of policy in response will not proceed at the same pace.
The U.S. government reiterated that it could tap its strategic oil reserves in order to safeguard economic growth as surging gasoline prices increase pressure for action.
Wall Street erased all of its weekly gains on Friday as fears of more geopolitical turmoil and the impact of high oil prices drove investors to sell risky assets like stocks.
The Gold Price eased back for Dollar investors on Friday in London, but recovered one third of yesterday's sharp sell-off – and was heading higher for the fifth weekly gain in a row – as official data said US unemployment retreated to 8.9% last month.
Crude prices will touch $200 a barrel if the Arab revolution spreads to Saudi Arabia, the Centre for Economics and Business Research (CEBR) said on Friday.
Growth in the service sectors in the United States and Europe hit its highest in five years in February, suggesting economic growth is accelerating though inflationary pressures are building.
Rich nations could tap strategic oil reserves if needed to ward off the risk that Middle East political unrest triggers an inflationary price spiral, Treasury Secretary Timothy Geithner said on Thursday.
