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Jan 26, 2012

Gold eases off highs to end flat

LONDON (Reuters) – Spot gold finished slightly lower on Thursday as investors locked in profits after bullion jumped past key resistance in early trade.

Spot gold jumped 1.11 percent to $1,729.76 an ounce, its highest level since December 8, and far surpassed both its 100- and 200-day moving averages in the morning.

Jan 26, 2012

Gold hits 6-1/2 week high as Fed news lifts markets

LONDON (Reuters) – Gold rose more than 1 percent to a 6-1/2-week high on Thursday as stock markets, commodities and the euro all rallied after the U.S. Federal Reserve extended by 18 months its plan to keep interest rates historically low and hinted at further economic stimulus.

The day after the Fed’s announcement, spot gold jumped to its biggest one-day rise in three months, then pulled back from session highs

Jan 10, 2012

Alcoa’s Kleinfeld sees 2012 aluminum deficit

NEW YORK (Reuters) – Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz) Chairman and Chief Executive Klaus Kleinfeld expects the global aluminum market to turn into a deficit this year, as biggest consumer China closes inefficient capacity even though demand remains robust.

At a conservative estimate, the global deficit will be some 600,000 tons, he told analysts on a conference call following the release of the aluminum giant’s fourth-quarter results.

Dec 23, 2011

Gold slips as upbeat U.S. data lifts dollar

NEW YORK/LONDON (Reuters) – Gold prices slipped on Friday, tracking the euro’s declines as upbeat U.S. economic data boosted the dollar, though volumes were exceptionally light even for a market in holiday mode.

Spot gold eased to $1,604.90 an ounce by 2:44 p.m. EST from $1,605.90 an ounce at Thursday’s close.

Dec 22, 2011

Gold slips as dollar gains in light trade

NEW YORK/LONDON (Reuters) – Gold finished slightly lower on Thursday, falling with the euro, as investors feared European leaders were not much closer to solving the euro zone debt crisis.

Traders were reluctant to add to long positions as year-end approaches, and most long-term traders were out of the market until 2012, leaving gold prices restricted recent ranges.

Dec 21, 2011

Gold surrenders gains as euro gives up ground

NEW YORK/LONDON (Reuters) – Gold surrendered gains on Wednesday in line with the euro after a tender for cheap European Central Bank loans failed to convince investors it would ease Europe’s deep-seated debt problems, despite its greater-than-expected interest.

Spot gold was down at $1,610.89 an ounce at 1325 EST, well off an earlier high of $1,641.50 an ounce, as well as its previous close at $1,614.79 an ounce. However, it is still up more than 13 percent this year.

Dec 20, 2011

Gold climbs as the euro rebounds 1 percent

NEW YORK/LONDON (Reuters) – Gold prices rose to their highest in nearly a week on Tuesday as the euro rallied 1 percent versus the dollar, but volume was light and short-term traders were unwilling to take big risks before year end.

Commodities rose generally along with stock markets as investors’ focus on positive U.S. economic readings, an successful Spanish debt auction and an improved German business reading sharpened their appetite for higher risk assets.

Dec 19, 2011

Gold edges back below $1,600/oz as euro flounders

NEW YORK/LONDON (Reuters) – Gold prices eased slightly on Monday as concerns that the European debt crisis will hurt global growth kept the euro under pressure, though the precious metal pulled up from early lows as the single currency pared losses against the dollar.

Spot gold edged down to $1,593.79 an ounce at 1330 EST (1830 GMT) from $1,598.75 at Friday’s finish. Earlier, it fell to $1,582.84 as worries about further euro zone debt rating downgrades lifted the dollar.

Dec 16, 2011

Gold up, still on track for big weekly fall

NEW YORK/LONDON (Reuters) – Gold rallied on Friday after a sharp pullback in the four previous sessions, gaining support from a weaker dollar and short-cover buying, but the metal remained on track for its biggest weekly decline in almost three months.

Spot gold rallied as much as 1.96 percent to $1,600.49 per ounce, then traded at $1,594.80 by 2008 GMT, up from a 2-1/2-month low of 1,560.36 hit in the previous session.

Nov 19, 2011

Century Aluminum ex-CEO says he was forced out

NEW YORK, Nov 18 (Reuters) – The former chief executive of
Century Aluminum Co , Logan Kruger, said he was ousted
after commodities group Glencore International took
control of the U.S. aluminum producer’s board.

Kruger’s assertion is contrary to Century’s announcement
this week that said Kruger had resigned.

    • About Carole

      "Based in New York, I cover all North American commodity markets, with a primary focus on metals and more specifically steel and aluminum. I have also covered economics, international economics, foreign exchange, bonds and stock markets for both TV and Reuters wire."
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