Gold prices closed higher for the week on the Comex Division of the New York Mercantile Exchange, hit a three week high in intraday, mainly on weak US employment report that hit the dollar. The most active gold contract for December delivery was up $6.0 , or 0.5 percent, to finish at $1,205.3 per ounce.
In order to penetrate further into retail segment of the commodities investors, National Spot Exchange Limited (NSEL) will launch copper and nickel contracts under its electronic spot trading E-series by the end of August, 2010.
Lebanon will assess security concerns relating to the use of BlackBerry phones, the telecom regulator said on Thursday, making it the latest country to raise worries over the smartphone devices.
Research in Motion is at odds with the governments of India, Saudi Arabia and the UAE over their demands that the company let authorities tap BlackBerry messages delivered using RIM's rock-solid encryption technology.
The AUD has pushed higher again overnight as investor risk appetite continues to grow.
A newly discovered vulnerability in the software that runs Apple Inc's iPad and iPhone could allow hackers to enslave the popular mobile devices, three security firms said on Tuesday.
A newly discovered vulnerability in the software that runs Apple Inc's iPad and iPhone could allow hackers to remotely enslave the popular mobile devices, a security firm warned on Tuesday.
BlackBerry maker Research In Motion was hit with its first major ban on Sunday after the United Arab Emirates, citing security risks, said BlackBerry services would be barred in October.
Investors in India are waking up to the power of gold. In a recent survey, it has come out that Asian investors are more likely to buy gold in the next six months than their North American and European counterparts.
Gold gained on Friday as jewelers across Asia replenished stocks and other physical buyers snapped up bullion ahead of U.S. second quarter GDP data that will offer clues on the direction of the economy.
With worries about the debt crisis in Europe diminishing, gold could attract safe-haven buying as growth in the U.S. economy probably slowed in the second quarter on reduced consumer spending.
India has raised security concerns with Research In Motion over the Canadian company's popular BlackBerry services, but is not planning a ban in the world's fastest growing mobile phone market.
With gold prices declining this week substantially following global cues, the future of gold is safe if the World Gold Council report is anything to go by.
According to WGC, though gold topped $1,250 per troy ounce this quarter and reached record highs in dollar terms, the metal has still some steam left before it pauses.
The BlackBerry, made by Canada's Research In Motion , is open to misuse that poses security risks to the United Arab Emirates, which said on Sunday it would seek to safeguard its consumers and laws.
Gold held above $1,180 an ounce in Europe on Tuesday as lower prices tempted some buyers back to the market after prices slipped to two-month lows in the previous session, but the technical picture remained weak.
Gold has been pressured by concerns over deflationary signals from the United States and other economies, analysts said, while a recovery in appetite for assets seen as higher risk has also deflected some investment from the precious metal.
It seems the fate of gold is depended on central banks across the world. Till now, economic crisis looming over the global economy has been the biggest boost for gold prices as more and more people rushed to buy gold as a safe haven option.
Gold rose on Thursday, benefiting from a retreat in risk appetite after soft U.S. economic data knocked stocks, the dollar and industrial commodities lower.
Spot gold was bid at $1,211.70 an ounce at 1528 GMT against $1,207.50 late in New York on Wednesday. U.S. gold futures for August delivery rose $5.40 to $1,212.40.
A contract has been awarded for research to help counter computer-based threats to national-security networks, the chief U.S. code-cracking and eavesdropping agency said, amid mounting concern over cyber vulnerabilities.
Oil rose toward $76 a barrel on Friday, heading for its biggest weekly gain since May, after a drop in U.S. inventories and positive economic indicators lifted risk appetite and sentiment across markets.
European stocks were up following a rally in Asia, and the euro held near a two-month high, following a fall in U.S. jobless claims and an upbeat view of the euro zone's recovery from the European Central Bank.
Gold held near $1,200 an ounce on Friday as some buyers were tempted back to the market by the metal's fall to six-week lows as the dollar softened, but recovering risk appetite is undermining its haven appeal.
Gold fell below $1,200 an ounce on Thursday, nearing recent six-week lows, as growing optimism over the global economy limited investor interest in perceived safe-haven assets, although consumers helped contain losses.
Gold buying has intensified on the late-June/early July sell offs and capitalising on this fall were the Asian investors, jewelry manufacturers and possibly a few central banks, according to Jeffrey Nichols, Senior Economic Advisor to Rosland Capital.
Gold rose to hold above $1,200 an ounce on Thursday on steady purchases from jewelers and other physical buyers after a recent drop to a six-week low, while sentiment was also lifted by gains in equities markets.
