Gold higher in European trading hours

Source: Forexpros

On Friday, futures for gold inched higher during European trading hours. On the NYMEX, contracts for August delivery of gold were traded at USD1569.75 per troy once, adding 0.27% by 10:30 GMT. Earlier during the session, futures for gold peaked at USD1572.85 per troy once. The gold's support could be found at USD1560.45, while resistance was likely to be at USD1634.25.

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Fri, 22 Jun 2012 13:59:30 GMT

Spain banks might need EUR 62b

According to the two firms hired by Spains government, Spain's banks might need up to EUR 62b to survive worst case scenario. Oliver Wyman Ltd. calculated that Spain's banking sector might need from 50 to 62 billion Euros. Roland Berger Strategy Consultants stated that 52 billion Euros might be needed. Consultants used 6.5% decrease in GDP in period of 3 years

Fri, 22 Jun 2012 16:15:07 GMT

Nikkei 225 breaches two day gains on darker outlook for global economy

Japan's Nikkei Stock Average disrupted a two day rally and traded lower on Friday as US jobs and housing data trailed estimates. Losses, however, were limited by exporter companies who gained on weaker Yen which attained 5-week record low. Mitsubishi UFJ Financial Group sank 1.1% after ratings of 15 worldwide banks were cut by Moody's Investors Service.  Olympus Corp added

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