The Organization of Petroleum Exporting Countries (OPEC) has pledged to make as much as 6 million barrels per day of surplus crude production capacity available in the event of a strong rise in demand or sudden disruption in supply, a Platts release said on Tuesday.
Rough diamond prices are expected to rise further this year, but will not match last year's sharp double-digit percentage rebound, which was boosted by restocking from jewellers, the head of De Beers sales division said on Monday.
The Euro extended its rally on the currency markets, spiking to a 4-week high vs. the Dollar of $1.3450 before easing back. Thus, Gold priced in Euros dropped almost 5% from Monday's near-record high.
Ethiopia has penalised retailers and suppliers in the capital who raised the prices of consumer goods such as bread by amounts higher than caps set in January, authorities said on Thursday.
It would be reasonable for China to raise interest rates in the first quarter because price pressure tends to be high for seasonal reasons during the opening months of the year, a central bank adviser said on Wednesday.
The Gold Price in Euros whipped within 1.5% of last month's all-time record highs in London trade on Monday, as weaker-economy Eurozone bonds fell sharply on a raft of bail-out rumors and leaks.
Speculation could push oil prices to rise to $110 per barrel within a few weeks, which may prompt OPEC to raise production, a member of Kuwait's Supreme Petroleum Council said on Sunday.
The Gold Price in Dollars slid to a near 6-week low in early London trading on Friday, dropping below $1360 an ounce, but then bounced back to $1369 as New York trading began and Non-Farm Payrolls showed a rise of 103,000 - below analyst forecasts - and the labor-force participation rate slipped further below two-in-three.
America’s No 2 mobile service provider AT&T Inc will cut the price of older iPhone 3GS model by half to $49 from $99 from January 7 even as it is widely expected to lose its exclusive US rights to sell Apple Inc smart phones.
Kuwait and Iran, two of the world's largest crude exporters and prominent members of the Organization of Petroleum Exporting Countries (OPEC), have reiterated that they don't see the need to raise output to keep rising crude prices under check.
Food prices will continue to haunt the world in 2011, even as the UN's Food and Agricultural Organization warned of 'food price shock' on Wednesday.
Silver and Gold Prices both unwound the last of late Dec.'s gains in early London trade on Wednesday, retreating to $29.20 and $1370 respectively per ounce on what several analysts called profit taking as world stock markets also fell.
Global food prices rose in December, with the FAO Food Price Index at a record high, the U.N Food and Agriculture Organization said on Wednesday, past 2008 highs when rising food prices sparked riots in a number of countries.
Oil climbed above $92 on Monday to its highest since October 2008, spurred on by expectations economic recovery will boost energy demand and as market bulls set their sights on $100 a barrel.
Jefferies & Co. downgraded its rating on shares of Sierra Wireless Inc. (SWIR) to 'hold' from 'buy'. However, the brokerage raised its price target on shares of the Canadian mobile modem maker to $15 from $13.
Studying the structure of open interest in US Comex Gold Futures and options, it points to more volatility and the risk...is very much to the upside, says O'Connell, concluding that professional traders are looking for a Gold Price of $1500 or even $1600 by the start of April.
The Gold Price in Euros broke fresh all-time highs overnight in Asian trade, hitting more than €34,500 per kilo - some 38% higher in 2010.
U.S. stocks were little changed on Tuesday as investors were reluctant to take large positions in either direction and largely shrugged off weaker-than-expected data on consumer confidence and home prices.
The average price of U.S. gasoline rose above $3 a gallon over the past week, reaching its highest level since October 2008, the Energy Department said on Monday.
The principal transport union in Bolivia, The Drivers' Confederation, has called for an indefinite strike to protest against the government’s decision to sharply raise the price of fuel.
Shares of Tesla Motors fell about 13 percent on Monday, the day the electric carmaker's lock-up period expired, flooding the stock market with shares.
Majority of the retailers in the UK expect sales to worsen in 2011 amid growing concerns over weak consumer demand and inflationary pressures.
