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Nov 9, 2011

Ammunition and railcars aid US metal demand growth

NEW YORK (Reuters) – Oil rigs, ammunition and electronics: in a U.S. economy that has come precariously close to stalling, these and other thriving industries are proving an unexpected boon for niche metal manufacturers.

While the construction industry, which accounts for more than a third of the country’s copper and steel demand, still languishes, other metal-intensive markets are racing ahead, helping demand pull out of a protracted slump.

Nov 9, 2011

Insight: Ammunition and railcars aid U.S. metal demand growth

NEW YORK (Reuters) – Oil rigs, ammunition and electronics: in a U.S. economy that has come precariously close to stalling, these and other thriving industries are proving an unexpected boon for niche metal manufacturers.

While the construction industry, which accounts for more than a third of the country’s copper and steel demand, still languishes, other metal-intensive markets are racing ahead, helping demand pull out of a protracted slump.

Nov 1, 2011

Gold down but off session low as euro cuts losses

NEW YORK/LONDON (Reuters) – Gold traded lower on Tuesday, under pressure from a stronger dollar, but weak U.S. manufacturing data enabled the euro to claw back some lost ground, pulling bullion up from earlier losses as well.

When gold began to bounce up off session lows, a bout of short-covering boosted it further. Gold retraced more losses as the euro got a boost from a Dow Jones report about mounting opposition among Greek lawmakers to the referendum.

Oct 28, 2011

Gold eases but posts biggest weekly rise since 2009

NEW YORK/LONDON (Reuters) – Gold edged lower on Friday on profit taking a day after a deal to contain the euro zone debt crisis triggered a broad rise in equities and commodities, but gold posted its biggest weekly rise since January 2009,

Spot gold finished at $1,743.10 per ounce, almost even with where it ended the previous session at $1,743.95. It retreated from a one-month high of $1,751.99 to spend most of the session modestly lower.

Sep 2, 2011

Gold jumps 3 percent as jobs gloom spurs safety bid

NEW YORK/LONDON (Reuters) – Gold surged nearly 3 percent on Friday, hitting its highest level since last week’s record, as investors sought refuge in safe haven assets following a bleak U.S. labor market report.

Some investors viewed the lack of jobs growth in August as a sign the world’s largest economy may be heading back into recession, heightening demand for gold. Some said it increased the odds of more stimulus from the Federal Reserve when it meets on September 20-21, also a positive for bullion.

Sep 2, 2011

Gold ends mixed as market awaits payrolls data

NEW YORK (Reuters) – Gold was mildly mixed by the close on Thursday, with many investors reluctant to take their positions in the precious metal too far in either direction a day ahead of key U.S. employment figures.

Gold fell sharply in early trade after better-than-expected U.S. economic data allayed recession fears and boosted the dollar. But by late in the session, spot gold prices had moved into positive territory and U.S. gold futures were only slightly lower, as investors awaited the jobs data.

Sep 1, 2011

Gold slips on U.S. economic data, strong dollar

NEW YORK/LONDON (Reuters) – Gold dipped on Thursday due to a stronger dollar and as better-than-expected U.S. economic data allayed recession fears and trimmed demand for safe-haven bullion.

The euro dropped broadly against the dollar as the Institute for Supply Management’s (ISM) factory activity index stayed above 50, the expansion threshold, especially in the face of weak manufacturing readings out of Europe.

Aug 29, 2011

Gold trims decline, still down on higher equities

NEW YORK/LONDON (Reuters) – Gold prices trimmed early steep losses in thin trade on Monday, with bullion down about 2.25 percent after Wall Street stocks rallied as investors’ risk tolerance increased.

But the downside was limited for the yellow metal, sought as a safe-haven in times of uncertainty or fear, with some players regarding declines as buying opportunities.

Jul 8, 2011

Gold holds gains after weak U.S. job data

NEW YORK/LONDON (Reuters) – Gold prices held onto gains of nearly 1 percent on Friday, achieved after weak U.S. nonfarm payrolls data renewed fears about the health of the world’s biggest economy and spurred safe-haven buying.

Spot gold rose to a two-week high of $1,545.30 an ounce, and steadied around $1,540.75 by 1:21 p.m. EDT against $1,531.85 late in New York on Thursday.

Jul 7, 2011

Gold rises, holds near $1,530/oz ahead of jobs

NEW YORK/LONDON (Reuters) – Gold prices firmed on Thursday, but held near $1,530 an ounce ahead of Friday’s important U.S. June jobs report.

Investors were bracing for large rise in U.S. nonfarm payrolls after payroll processor ADP reported a 157,000 rise in private sector employment in its June report on Thursday. But with gold caught by competing influences there was no clear conviction on direction if payrolls comes in on the high side.

    • 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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