Gold consumers across Asia greeted bullion's run to a record high cautiously on Wednesday, with a few moving to cash in gains but the majority opting to wait for the rest of a rally they believe has only just begun.
A Federal Reserve official said on Tuesday that while the U.S. economy is clearly rebounding, it is too soon to begin to withdraw the Federal Reserve's massive support.
Gold received a lukewarm reception a day after racing to a record high, with consumers in Asia more likely to be cashing in than panic buying.
Gold held below its record high in early Asian trade on Wednesday, but could be set for another spike up as the U.S. dollar continues to struggle and inflation concerns grow, analysts said.
Gold surged to a record high above $1,040 per ounce on Tuesday, as investors piled into the metal to preserve the value of their dollar-denominated assets against erosion by a weakening dollar and inflation.
Excessive real estate strength in Canada from ultralow mortgage rates could push the Bank of Canada to raise interest rates sooner or more aggressively than forecast, according to a TD Economics report on Tuesday.
Gold surged to a record high above $1,040 per ounce on Tuesday, with buying fueled by dollar weakness after a report, later denied, that Gulf Arab states were considering abandoning the U.S. currency for oil trade.
Australia's central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed.
Australia's central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed.
A tepid economic recovery should allow the U.S. Federal Reserve to keep interest rates at rock-bottom lows for a prolonged period, New York Federal Reserve President William Dudley said on Monday.
A tepid economic recovery should allow the U.S. Federal Reserve to keep interest rates at rock-bottom lows for a prolonged period, New York Federal Reserve President William Dudley said on Monday.
The following are comments on Monday from finance officials in Istanbul for the Group of Seven, IMF and World Bank meetings.
U.S. employers unexpectedly cut more jobs in September than in August, underscoring the fragility of the economy's recovery from its worst recession in 70 years as businesses remain cautious about the future.
Former Federal Reserve Chairman Alan Greenspan said on Friday that the Fed risks igniting a burst of inflation if it does not withdraw its extensive support for the economy at the right moment.
Federal Reserve officials said on Thursday that while the recession-battered economy is on the mend, it will be weak for a while and the Fed is likely to keep its extensive support policies in place for a while.
The jobless rate does not have to start falling before the Federal Reserve starts tightening monetary policy, a top Fed official said on Thursday.
U.S. consumer spending rose at its fastest pace in nearly 8 years in August, but the number of workers filing new claims for jobless benefits rose last week, indicating a weak labor market would weigh on recovery.
U.S. consumer spending rose at its fastest pace in nearly 8 years in August, but the number of workers filing new claims for jobless benefits rose last week, indicating a weak labor market would weigh on recovery.
U.S. consumer spending rose at its fastest pace in nearly 8 years in August, advancing for a fourth straight month, according to a government report on Thursday that pointed to a rebound in spending in the third quarter.
Unemployment in the 16-country euro zone rose to a more than 10-year high of 9.6 percent in August and economists warned it will likely worsen further, hurting the prospects for a strong economic recovery.
U.S. consumer spending rose at its fastest pace in nearly 8 years in August, advancing for a fourth straight month, according to a government report on Thursday that pointed to a rebound in spending in the third quarter.
Unemployment in the 16-country euro zone rose to a more than 10-year high of 9.6 percent in August and economists warned it will likely worsen further, hurting the prospects for a strong economic recovery.
