Gold held near $ 1010 an ounce in Europe on Friday as the dollar's recovery from lows of a year against the euro weakens the upward trend in precious metal.
However, prices are supported by strong buying in times of low, as investors are betting that the metal will exceed its historical mark of $ 1,030.80 signed in March last year.
Spot gold rose to $ 1012.90 an ounce at 1115 GMT from $ 1011.45 the day before in New York. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange advanced $ 1.40 to $ 1014.90 an ounce.
Saxo Bank manager Ole Hansen said the impetus that gold has gained on its way to a new record, you need a stronger dollar to spark a downtrend.
"There has been strong buying activity of speculative long positions hit record highs, investments in exchange-traded funds are at record levels, so we need to see a break above the highs of last year," he said. If this is successful, he added, there is the possibility that gold set a new trading range between 1,000 and 1,300 dollars.
Among other precious metals, silver, platinum and palladium also slipped after hitting multi-month highs on Thursday, following gold's gains.
Palladium was at $ 302.50 from $ 301.50 Thursday, while platinum was at $ 1336.50 as an ounce from $ 1335.50. Silver was trading at $ 17.12 an ounce from $ 17.18.
Mostrando entradas con la etiqueta economy new. Mostrar todas las entradas
Mostrando entradas con la etiqueta economy new. Mostrar todas las entradas
viernes, 18 de septiembre de 2009
"The good news is that the crisis is over"
This was stated by head of Morgan Stanley, John Mack. He noted also ended fears that conditioned the financial world
The global economic crisis is over but the risks still remain, said the outgoing chief executive of Morgan Stanley.
"The good news is that I believe that the economic fears, the crisis ended," said John Mack at a conference of investors in the Russian resort of Sochi, Black Sea.
"We still have problems, yes, but the attention of governments and regulators around the world clearly avoided what could have been the demise of the financial system," he added.
The global economic crisis is over but the risks still remain, said the outgoing chief executive of Morgan Stanley.
"The good news is that I believe that the economic fears, the crisis ended," said John Mack at a conference of investors in the Russian resort of Sochi, Black Sea.
"We still have problems, yes, but the attention of governments and regulators around the world clearly avoided what could have been the demise of the financial system," he added.
Zapatero will see Obama in the White House in October
The Prime Minister, José Luis Rodríguez Zapatero, will meet on Oct. 13 at the White House with U.S. President, Barack Obama, said on Friday the newspaper El Mundo.
Be the first time a U.S. president held a meeting with Zapatero in the White House since he took office in 2004 as they had no bilateral meeting with Obama's predecessor, George W. Bush.
No one was available on Presidency of the Government to confirm.
Be the first time a U.S. president held a meeting with Zapatero in the White House since he took office in 2004 as they had no bilateral meeting with Obama's predecessor, George W. Bush.
No one was available on Presidency of the Government to confirm.
jueves, 17 de septiembre de 2009
European markets go up and accumulate firm in September alone earned more than 7 percent
The main European operating again today with widespread gains. The first two weeks of the month is marked by the clear upward trend and progress on the annual maximum
European markets operate on Thursday, with moderate gains and continue the generalized climate of optimism amid signs of recovery and the imminent end to global recession.
The Ibex 35 Spain 0.47% gain to 11,802 points, the CAC 40 in France, 0.47%, to 3830, and Germany's DAX, 0.51% to 5729 points, reported Reuters news agency.
The first two weeks of September was marked by strong gains in the streets of the Old Continent, which position their indicators at their highest levels since mid-2008, when he shot the international financial crisis.
The bags piled up in the first half of the month generalized increases over 7% on average. The main indicator rose 793 points Spanish, French, 259 points, and Germany, 403 points.
European markets operate on Thursday, with moderate gains and continue the generalized climate of optimism amid signs of recovery and the imminent end to global recession.
The Ibex 35 Spain 0.47% gain to 11,802 points, the CAC 40 in France, 0.47%, to 3830, and Germany's DAX, 0.51% to 5729 points, reported Reuters news agency.
The first two weeks of September was marked by strong gains in the streets of the Old Continent, which position their indicators at their highest levels since mid-2008, when he shot the international financial crisis.
The bags piled up in the first half of the month generalized increases over 7% on average. The main indicator rose 793 points Spanish, French, 259 points, and Germany, 403 points.
miércoles, 16 de septiembre de 2009
By the crisis, more than 1,000 million people suffer from hunger
On the international economic crisis, food aid is on the lowest level of the last 20 years. Therefore, the number of hungry people is critically share highest known in history
Of the 6,791,511,711 people when inhabit the planet, almost one sixth is hungry. According to data managed by the World Food Program (WFP), there is a serious budget deficit to deal with the situation.
To date, this program has confirmed 2,600 million dollars of funding for its 2009 budget, which expected to be 6,700 million.
"Millions of people have been hit by the global financial crisis and its capacity limited to buy food because prices remain high," he says in this regard the UN program.
From Mexico, the UN Special Rapporteur on the Right to Food, Olivier de Schutter, has said at a forum organized by several NGOs in the past two years increased "significantly" and that world hunger is already over 1,000 million people.
This situation is "alarming" and states must develop "effective programs" that address this problem which is becoming increasingly acute with factors such as population growth
Of the 6,791,511,711 people when inhabit the planet, almost one sixth is hungry. According to data managed by the World Food Program (WFP), there is a serious budget deficit to deal with the situation.
To date, this program has confirmed 2,600 million dollars of funding for its 2009 budget, which expected to be 6,700 million.
"Millions of people have been hit by the global financial crisis and its capacity limited to buy food because prices remain high," he says in this regard the UN program.
From Mexico, the UN Special Rapporteur on the Right to Food, Olivier de Schutter, has said at a forum organized by several NGOs in the past two years increased "significantly" and that world hunger is already over 1,000 million people.
This situation is "alarming" and states must develop "effective programs" that address this problem which is becoming increasingly acute with factors such as population growth
martes, 15 de septiembre de 2009
OIL-barrel rise, profit slows some concern for distillates
Oil prices were trading on Tuesday above $ 69 a barrel because of an expected decline in crude inventories in the United States.
But the concern that U.S. stocks of distillates have grown, capping gains. The oil market was expecting a weekly inventory report from the American Petroleum Institute (API) to be released at 2030 GMT. Analysts have predicted a fall of 2.7 million barrels in crude stocks and a 1.5 million rise in distillate inventories. Gasoline stocks would rise by 800,000 barrels.
Prices barely moved after the Organization of Petroleum Exporting Countries (OPEC) left its forecast for demand as of 2010, and said signs of an upturn in the global economy continue to grow, but that recovery will be slow and gradual.
Prices of U.S. oil contract for October delivery gained 447centavos dollar, to $ 69.33 at 1208 GMT, while Brent crude rose to $ 67.50.
"There is concern about rising inventories," the analyst told Reuters Christophe Barret, at Calyon.
The government's Energy Information Administration (EIA) will release inventory data on Wednesday.
There is also concern in the market on news that the main U.S. stock market would increase the application of limits on the size of positions in the futures markets since 14 September.
But a source told Reuters on Monday that the CME Group, which operates the New York Mercantile Exchange (NYMEX) applications will not raise limits on positions and that the warning on Friday about it was "routine".
But the concern that U.S. stocks of distillates have grown, capping gains. The oil market was expecting a weekly inventory report from the American Petroleum Institute (API) to be released at 2030 GMT. Analysts have predicted a fall of 2.7 million barrels in crude stocks and a 1.5 million rise in distillate inventories. Gasoline stocks would rise by 800,000 barrels.
Prices barely moved after the Organization of Petroleum Exporting Countries (OPEC) left its forecast for demand as of 2010, and said signs of an upturn in the global economy continue to grow, but that recovery will be slow and gradual.
Prices of U.S. oil contract for October delivery gained 447centavos dollar, to $ 69.33 at 1208 GMT, while Brent crude rose to $ 67.50.
"There is concern about rising inventories," the analyst told Reuters Christophe Barret, at Calyon.
The government's Energy Information Administration (EIA) will release inventory data on Wednesday.
There is also concern in the market on news that the main U.S. stock market would increase the application of limits on the size of positions in the futures markets since 14 September.
But a source told Reuters on Monday that the CME Group, which operates the New York Mercantile Exchange (NYMEX) applications will not raise limits on positions and that the warning on Friday about it was "routine".
Citigroup explores the reduction of U.S. government involvement
New York, Sep 15 (MarketWatch) .- Citigroup, eager to remove the stigma of being a subsidiary of the U.S. government is drafting a plan to reduce 34% stake that the state keeps the financial giant.
Senior executives from Citigroup have been drawing up plans for a possible public stock sale of billions of dollars, while the Treasury would sell at least a portion of the stake in Citigroup, according to sources close to the deal told The Wall Street Journal.
Negotiations are at a preliminary stage, sources said, and Citigroup has not yet officially submitted this operation to the U.S. Treasury, but expect it soon.
Representatives of the entity and have discussed their plans with bank regulators, financial sources said.
Last week, the Treasury Department purchased 7,700 million shares of Citigroup.
The federal government got that participation in exchange for a portion of its preferred stock group, which the Treasury received when injected 45,000 million dollars in Citigroup.
The conversion of preferred shares into common stock agreed to in the second quarter, when rumors swirled about the health of Citigroup's capital levels.
The advance request from Citigroup to start reducing government involvement reflects the rapid rebound in Wall Street about the dark days of financial crisis.
It could also provide a preliminary test of how the government of President Barack Obama combines his desire to begin to reverse the major interventions in the financial system with the concern still exists about the health of the banking industry in general and in particular Citigroup .
Although Citigroup has reported net profits in the last two quarters, the company still has to deal with an increase in loan defaults and still tens of billions of dollars of risky assets.
Even before the Treasury Department obtained the shares of Citigroup, its officers were examining how to reduce government involvement.
The aim is a joint sale of shares and Citigroup would issue up to 5.000 million in new shares, while the government simultaneously sell an undetermined number of shares it controls, sources said.
Executives hope that a sale of this type may occur in the fourth quarter of this year.
Citigroup could use the capital gains from the sale of shares to buy some of the preferred stock that controls the government, sources said, while bank executives argue that the company would issue shares only if the Treasury also agreed to sell shares.
Spokesmen for Citigroup and the Treasury Department declined comment.
If the U.S. sells some of its shares of Citigroup, taxpayers could make a profit.
The government converted its preferred stock into common shares at $ 3.25 per share, while Citigroup shares closed yesterday at $ 4.52, which means that the 7,700 million shares of government have increased in value 9,800 million dollars.
Senior executives from Citigroup have been drawing up plans for a possible public stock sale of billions of dollars, while the Treasury would sell at least a portion of the stake in Citigroup, according to sources close to the deal told The Wall Street Journal.
Negotiations are at a preliminary stage, sources said, and Citigroup has not yet officially submitted this operation to the U.S. Treasury, but expect it soon.
Representatives of the entity and have discussed their plans with bank regulators, financial sources said.
Last week, the Treasury Department purchased 7,700 million shares of Citigroup.
The federal government got that participation in exchange for a portion of its preferred stock group, which the Treasury received when injected 45,000 million dollars in Citigroup.
The conversion of preferred shares into common stock agreed to in the second quarter, when rumors swirled about the health of Citigroup's capital levels.
The advance request from Citigroup to start reducing government involvement reflects the rapid rebound in Wall Street about the dark days of financial crisis.
It could also provide a preliminary test of how the government of President Barack Obama combines his desire to begin to reverse the major interventions in the financial system with the concern still exists about the health of the banking industry in general and in particular Citigroup .
Although Citigroup has reported net profits in the last two quarters, the company still has to deal with an increase in loan defaults and still tens of billions of dollars of risky assets.
Even before the Treasury Department obtained the shares of Citigroup, its officers were examining how to reduce government involvement.
The aim is a joint sale of shares and Citigroup would issue up to 5.000 million in new shares, while the government simultaneously sell an undetermined number of shares it controls, sources said.
Executives hope that a sale of this type may occur in the fourth quarter of this year.
Citigroup could use the capital gains from the sale of shares to buy some of the preferred stock that controls the government, sources said, while bank executives argue that the company would issue shares only if the Treasury also agreed to sell shares.
Spokesmen for Citigroup and the Treasury Department declined comment.
If the U.S. sells some of its shares of Citigroup, taxpayers could make a profit.
The government converted its preferred stock into common shares at $ 3.25 per share, while Citigroup shares closed yesterday at $ 4.52, which means that the 7,700 million shares of government have increased in value 9,800 million dollars.
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