Sellers cut prices on nearly one quarter of U.S. homes listed in June, an increase from May, showing buyers still call the shots in the U.S. housing market, real estate website Trulia.com said on Wednesday.
Cuts in global aluminum production, especially in China, should boost the metal's price and improve U.S. producer Alcoa Inc's earnings prospects, analysts said on Tuesday.
China will fine companies up to 2 million yuan ($295,400) for sending misleading or fake information about price increases, according to a new draft regulation by China's economic planning agency.
Gold prices edged up in Asian trade Tuesday mainly on investor's buying interest after prices dropped below the psychological barrier of $1200 an ounce.
Gold for immediate delivery was seen trading at $ 1199.58 an ounce at 12.30 p.m Singapore time while U.S. gold futures for August delivery was at $ 1199.47 an ounce on the Comex in New York.
Vietnam, where gold price is much higher than rest of the world, is taking all initiatives to ensure good supply of the precious yellow metal. Last week, the Vietnamese government allowed businesses to re-start importing gold. The country had banned gold import some months back.
Alcoa Inc (AA.N), facing a sharp drop in aluminum prices, is losing favor on Wall Street as analysts lower their expectations for the company's earnings.
Alcoa, the largest U.S. aluminum producer, is expected to turn a second-quarter profit after a year-ago loss, but analysts have recently been cutting their forecasts, and one sees the possibility of a return to red ink later this year.
Gold edged higher on Wednesday, rising back above $1,190 an ounce, as fresh demand emerged for the precious metal after its correction from recent record highs, which helped offset pressure from a firmer dollar.
Sony Corp has cut the price of its Reader devices, joining an electronic-reader price war between Amazon.com Inc and Barnes & Noble Inc.
Agricultural Bank of China, the country's No.3 bank by assets, has closed the books on its dual Hong Kong and Shanghai share sale and is on track to raise around $20 billion in what could be the world's largest ever IPO.
Amazon.com Inc cut the price on its most expensive Kindle electronic reader, the latest salvo in a price war in response to Apple Inc's pricier iPad tablet computer.
Historically, when India's retail gold markets remained fragmented and unorganized, price parity was a major concern. Distance between places played key role in price differentiation in yellow metal. But with electronic exchanges rapidly taking shape and number of participants in Gold trading seen rising, the price disparity within India started wearing away.
India's inflation is set to zoom with the announcement by the Manmohan Singh government on the freeing up of petrol and diesel prices. The announcement has raised hopes of a further decontrol of the oil sector over the next few years, which could help balance public finances and let private companies challenge state-run firms' decades-old retailing monopoly.
The high prices of gold is threatening several families in a different way.
According to reports, the Cambodian government has threatened to burn homes of almost 100 families who are living at the site of a gold deposit recently discovered by an Australian mining company.
New claims for jobless aid rose last week while consumer prices notched their largest decline in nearly 1-1/2 years in May, suggesting interest rates will remain ultra low to nurse the fragile economic recovery.
New claims for jobless aid rose last week while consumer prices notched their largest decline in nearly 1-1/2 years in May, suggesting interest rates will remain ultra low to nurse the fragile economic recovery.
Gold producing countries are ramping up production following the rise in prices in the past few years, according to Gold Made Simple.
One of the main factors that influences the price of gold is supply and demand. When demand for gold exceeds supply, which is happening at present, the price of gold goes up and vice versa
After clawing its way back above $75 a barrel on Thursday for the first time in four weeks, the benchmark oil futures contract fell back again on Friday on news of an unexpected decline in retail sales in the U.S.
World oil prices edged down in Asian trade Friday mainly after yet another Chinese data, industrial output for May, influenced it negatively. Light sweet crude for July delivery was seen trading at $75.19 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 75.05 a barrel in London.
(Linda Stern is a freelance writer. Any opinions in the column are solely those of Ms. Stern. You can follow Linda Stern's financial notes on Twitter at http://www.twitter.com/lindastern)
Gold prices have surged to the record highs on the Indian commexes hitting Rs.19,198 per ten grams on Multi-Commodity Exchange (MCX) on Tuesday. However, owing to the profit bookings at the upper levels, prices remained weak on Wednesday trading between Rs.18900 to Rs.18999 per ten grams on MCX.
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iPhone maker Foxconn International Holdings said it will seek higher prices from its clients to help offset wage hikes at a plant in southern China that has been hit by a series of suicides.
