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Gold price still on upward trend

There is no bubble in the gold price and it is basically going up, possibly to surpass $2,000 per ounce in the near term, as fundamental demand for gold is strong while the supply is subdued, a mining veteran said here on Tuesday. Owen Hegarty, vice chairman of Hong Kong-listed ...

China's yuan weakens against USD Wednesday

The Chinese currency Renminbi, or the yuan, weakened 4 basis points to 6.3297 against the U.S. dollar on Wednesday, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central ...

China stocks close mixed on slowing manufacturing growth

Chinese stock markets closed mixed after data released Tuesday showed that the country's manufacturing growth slowed in October. The Purchasing Managers' Index (PMI) dropped to 50.4 percent in October after rising for two consecutive months, down 0.8 percentage point from ...

China's Stocks Open More Than 1 Pct Lower

China's stocks opened more than 1 percent lower on Wednesday with the benchmark Shanghai Composite Index down 1.30 percent to open at 2,437.87. The Shenzhen Component Index dropped 1.44 percent to open at 10,291.62.

Wall Street Slides amid Greek Referendum Call

U.S. stocks ended sharply lower on Tuesday, with each of the three major indexes losing over 2 percent amid news that Greece is to hold a referendum on the bailout deal. European Union leaders agreed last week on a rescue package for Greece after difficult negotiations, but Greek ...

Dollar Rises on Greek Referendum, Slower US Manufacturing

The U.S. dollar rose against major currencies in late New York trading on Tuesday as the Greek government said it would hold a referendum on the proposed bailout and the U.S. manufacturing activities slowed in October. The Greek government announced Monday it would hold a ...

Oil Falls on Greece's Referendum

U.S. crude oil price fell on Tuesday as Greece's unexpected decision to call a referendum over its debt bailout caused renewed concerns about the euro zone. Worries about European debt crisis reemerged after Greek Prime Minister George Papandreou decided to let Greeks vote on a ...

Gold Sinks Further as Dollar Extends Gains

Gold futures on the COMEX Division of the New York Mercantile Exchange dropped for the third consecutive session on Tuesday as continued rally in U.S. dollar eroded demand for the bullion as an alternative asset. Fresh concerns over a surprise decision by Greek Prime Minister to ...

KSE Sheds 11,800 over Technical Correction

Karachi Stock Exchange (KSE) witnessed bearish traded on Tuesday where the main index gave away the 11,800 levels as dealers said the market recorded technical correction after a massive rally the other day. The benchmark KSE 100-Index fell by 0.89 percent or 106.16 points to ...

China Stocks Close Mixed Tuesday

Chinese stock markets closed mixed after data released Tuesday showed that the country's manufacturing growth slowed in October. The Purchasing Managers' Index (PMI) dropped to 50.4 percent in October after rising for two consecutive months, down 0.8 percentage points from ...

Japan Buys 102 bln USD for Cooling Yen's Hike

Japan's Ministry of Finance (MOF) and the Bank of Japan (BOJ) spent as much as 8 trillion yen (about 102 billion U.S. dollars) buying U.S. dollars on Monday in a currency intervention to stem the yen's appreciation, market players estimated following data release from the central ...

Silver lining for Chinese investors

Chinese people have a cultural and historical liking for silver, as both ornaments and accessories. However, they are now increasingly seeing it in a new light, as an investment. Investment in silver has been booming since last year, with the trading volume exploding. The trading ...

China's yuan weakens against USD Tuesday

The Chinese currency Renminbi, or the yuan, weakened 60 basis points to 6.3293 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central ...

Chinese stocks close lower Monday

Chinese shares closed lower Monday with the benchmark Shanghai Composite Index lost 0.21 percent, or 5.16 points, to 2,468.25. The Shenzhen Component Index fell 0.77 percent, or 81.08 points, to close at 10,480.91.

Foreign venture capital institutions keep hopes up

Although China concept stocks in the U.S. stock market have presented sluggish performance recently, most foreign venture capital institutions in China are still showing confidence in the investment opportunities in the country's huge market. China concept stocks have experienced ...

Wall Street Hits Best Month for Years

Wall Street closed lower on Friday but still kept a robust October, with the Dow hitting best month since 2002, the S&P hitting best month since 1987. The Dow Jones industrial average tumbled 276.10 points, or 2.26 percent, to 11,955.01. The Standard & Poor's 500 slumped 31.79 ...

US Stocks End Robust October on Down Notes

U.S. stocks ended a robust October on down notes, taking away a big chunk of the monthly gains, as renewed concerns over the European debt crisis spurred sell-offs on Monday. The blue-chip Dow fell more than 2.2 percent at the close. The broader S&P declined nearly 2.5 percent ...

US Oil Edges down on Stronger Dollar

U.S. oil price edged down on Monday as the dollar strengthened after Japan's latest intervention. The dollar rose more than 3 percent to its three-month high against the yen Monday after Japan's new round of intervention. And the euro dropped sharply against the dollar. The ...

Gold Softens as Dollar Firms

Gold futures on the COMEX Division of the New York Mercantile Exchange lost some steam Monday, as U.S. dollar garnered some strength against all the major currencies, eroding gold's appeal as an alternative asset. The most active gold contract for December delivery trimmed 22 ...

China's yuan strengthens against USD Monday

The Chinese currency Renminbi, or the yuan, strengthened 57 basis points to 6.3233 against the U.S. dollar on Monday, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the ...
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