Crude oil prices fell more than 2% on Friday after Goldman Sachs cut its crude forecasts, citing global oversupply and concerns over the Chinese economy, and after Saudi Arabia dismissed the idea of an oil producer summit.
Gold’s many qualities make it one of the most coveted metals in the world. Not only can it be beautifully shaped and sculpted, the yellow metal also conducts electricity, doesn’t tarnish and is biocompatible (meaning it’s not harmful to our tissue). These qualities make it the metal of choice in a wide variety of industries, including dentistry and medicine, electrical engineering, construction and aerospace manufacturing.
China has announced tougher rules on trading stock index futures and foreign exchange derivatives as it seeks to steady jittery markets whose weakness has raised concern over the health of the world's second-largest economy.
Like a true contrarian, Gold Newsletter publisher Brien Lundin looks beyond the headlines to understand what is really moving precious metals prices. He has concluded that the mainstream media may have it all wrong.
The global stock market rout of the past week was sparked by concerns over a possible interest rate rise by the U.S. Federal Reserve and not by the devaluation of China's yuan currency, a senior Chinese central bank official told Reuters on Thursday.
The dollar jumped one percent against a basket of major currencies on Tuesday and recovered from seven-month lows against the safe-haven yen and euro as riskier assets got a boost from an interest rate cut by the Chinese central bank.