On Monday gold concluded its biggest three-day plunge in nearly 30 years, and prices struggled Wednesday under the weight of three factors -- the absence of which would sharply boost the chance of the yellow metal to resume its climb toward $2,000 per troy ounce.
European government officials and financial institutions are starting to make dramatic steps needed to manage their way through a debt crisis that threatens to drag the world economy into recession.
The board of UBS meets on Friday amid the glamour of Singapore's Grand Prix event to decide the future of its scandal-hit investment bank and CEO Oswald Gruebel, on whose watch it lost $2.3 billion in rogue trading.
Gold prices plunged Thursday when investors stampeded out of precious metals, as well as stocks, into the perceived safety of the U.S. dollar.
Gold prices plummeted more than 3 percent Thursday after the Federal Reserve pronounced the economy seriously ill but then prescribed what many traders and analysts saw as a virtual aspirin.
UBS CEO Oswald Gruebel will ask the board of the Swiss financial giant to back his leadership and keep its investment bank after a $2.3 billion loss blamed on a rogue trader piled pressure on him to scale back or even split off the division.
UBS CEO Oswald Gruebel will stress to the board of directors that he wants the investment bank to remain part of Swiss bank's "integrated banking model" in meetings on Thursday and Friday, sources said, after rogue trading cost the bank $2.3 billion.
As the U.S. economy slouches toward another recession and confidence in policymakers erodes, investors are coming to grips with the notion that the country may already be several years into a Japan-style lost decade.
Speculation is growing in markets that Greece will be unable to avoid a full-blown default, despite two international bailouts and pledges of support from the eurozone's biggest economies.
Gold and silver fell hard Thursday after five major central banks announced a coordinated plan to inject U.S. dollars into European banks straining under the load of the continent's sovereign debt crisis.
In a nation whose love for gold is legendary, financial adviser Biju Daniel is one of scores of Indians who are rethinking how they amass riches through the precious metal.
U.S. Treasury debt prices fell on Wednesday as traders booked profits from a recent rally and higher stocks undermined the safe-haven value of U.S. government debt.
South Africa's rand weakened against the dollar on Tuesday, reversing earlier gains on broad-based dollar buying but could get support at around 7.16.
Some of the world's richest families are cutting their holdings in gold to take profits on the run-up in prices and are buying high-end art to preserve their wealth during market turmoil, an executive advising these families.
Toronto-Dominion Bank (TD.TO: Quote) boosted its dividend on Thursday as it reported that strong loan volumes in the United States and Canada drove it to a higher-than-expected quarterly profit, pushing its shares higher.
Kenya's interbank lending rate tumbled to 19.2515 percent on Tuesday from 27.7299 percent the previous day, central bank data showed on Thursday, as the bank's action last week to bring down interbank rates filters through the market.
Insatiable demand for safe haven U.S. government bonds is helping mask a potentially huge financial problem -- the need to extend the maturity of debt issued by the United States.
Asian stocks edged up Wednesday, poised to end a volatile month on a mildly stronger note, while the dollar struggled on heightened expectations that the U.S. Federal Reserve would do more to stimulate the economy.
Confidence among consumers plunged in August to its lowest in more than two years following the country's loss of its top credit rating and heart-wrenching drops in major stock indexes.
Star bond fund manager Jeffrey Gundlach was in discussions to leave Trust Company of the West and succeed Bill Gross at Pacific Investment Management in 2009, according to court testimony.
Hurricane Irene closed in on the east coast on Friday, lashing North Carolina with ferocious winds and triggering emergency steps including unprecedented evacuations and transit shutdowns in New York.
The eastern United States ramped up its alert on Friday ahead of Hurricane Irene and New York City ordered evacuations of vulnerable residents as the broad, menacing storm closed in on the Atlantic coast.
