Indians gave the biggest boost to gold this week with the demand rising in the country following the onset of wedding season across the country. Breaking all previous records, gold prices zoomed past Rs 18,800 per 10 gm level on Thursday in New Delhi while Mumbai witnessed Rs 18,600 level. This jump in India, which is the biggest consumer of the metal in the world, and the rise in demand have delivered the much needed push to the gold market globally.
Federal Reserve Chairman Ben Bernanke stepped up calls to preserve Fed independence on Wednesday, saying central banks best deliver steady economic growth and low inflation when free from political meddling.
Federal Reserve Chairman Ben Bernanke said U.S. inflation expectations were stable despite price swings in the past few years and signaled the Fed saw no need to change its current price commitment.
U.S. inflation expectations were very stable and well-anchored at a low level despite pronounced swings in the past few years, Federal Reserve Chairman Ben Bernanke said on Wednesday.
Gold is one of the more mysterious assets in the financial markets. It's volatile at times to the point of inducing vertigo and fans of the precious metal assert, somewhat contradictorily, its prowess as a hedge against both inflation and deflation.
(Corrects to show Kansas City Fed, not Richmond, voted for discount rate hike in paragraph 2)
The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.
With tax credits for house buyers gone and tough new banking regulations on the way, expect lending in the United States to come under significant pressure.
The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.
U.S. consumer confidence rose in May to a two-year high as concerns about the labor market eased, according to a private sector report released on Tuesday.
The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.
Keeping expectations of future price levels intact is vital, especially when interest rates are very low, the Federal Reserve's number two official said on Friday.
The fiscal tightening from Japan, euro zone, and the United States will lead to slower growth and lower inflation, which is leading to added selling pressure on world financial markets on Thursday, the manager of the world's biggest bond fund said.
Old is Gold - going verbal on this well-known saying, it would surly fetch gold for you getting older. As gold prices are hovering at historic peak levels giving lucrative opportunity for investors to create wealth for their present, it has proved to be one of the best instruments for securing after-retirement life with gold coin investments.
Consumer prices fell for the first time in a year last month and the closely watched core inflation rate posted its smallest annual gain since 1966, pointing to a lack of price pressure as the economic recovery gathers steam.
Consumer prices fell for the first time in a year last month and the closely watched core inflation rate posted its smallest annual gain since 1966, pointing to a lack of price pressure as the economic recovery gathers steam.
(Corrects name in 4th paragraph to Ruskin, instead of Raskin)
Consumer prices unexpectedly fell in April, the first decline in a year, and the core annual rate recorded its smallest gain since 1966, suggesting scope for the Federal Reserve to keep interest rates near zero for some time.
Housing starts touched a 1-1/2-year high in April, but a drop in building permits to a six-month low implied the housing market recovery may struggle to gain momentum without more government aid.
Producer prices eased in April and costs excluding food and energy remained contained, suggesting inflation is not a near-term concern for officials at the Federal Reserve.
Sears Holdings Corp , which expanded its layaway program to help cash-strapped consumers pay for purchases during the recession, is now helping its customers exchange their jewelry for cash as gold prices soar.
Venezuelan authorities have raided four money-changing businesses and arrested one man in the start of a clampdown on what President Hugo Chavez calls capitalist speculators distorting the currency market.
