Gold futures prices moved lower on Friday after the Commerce Department released worse than expected Retail Sales data. The decline in consumer confidence along with the lack of robust retail buying in March created headwinds for gold traders.
This morning, the midweek session in New York opened lower as gold notched a fourth day of losses, and traded near $1,640 per ounce. Anxieties connected to China’s economy flared in the wake of reports that home prices in that country fell again.
After prices fell 10% in December, many investors wondered if the bull market in gold was running out of steam. That was before Federal Reserve Chairman Ben Bernanke swooped in with a “red cape” and fired the bulls back up.
Aura Energy's chairman talks about driving forward the company's projects in Sweden, Mauritania and Western Australia, one of which could eventually prove to be the second largest deposit in the world.
Are E.U. citizens ready to accept the crisis rescue plan that makes massive transfers of resources from taxpayers to the banking sector? This article proposes three ways to share the rescue's benefits with citizens: increased competition in the banking sector, tax reductions for low-wage earners, and temporary relief schemes for families with mortgage problems.