Gold rose on weaker US Dollar

Source: Dukascopy Bank SA
Precious metals were mixed on Monday, with gold and silver moving higher and platinum and palladium retreating. Weaker US Dollar coupled with easing concerns over the Eurozone's crisis supported the commodity group.

Gold advanced by 0.44% on softer greenback. Meanwhile, hopes for decisive action from the ECB and Fed also bolstered the yellow metal.

Silver followed gold's suit, rising by 0.34%. Stronger global equities as well as speculation that the Fed may loosen its monetary policy lifted silver prices.

Platinum was flat after Nasdaq reported that the metal has become one of the most popular niche commodities.

Palladium dropped despite strong performance of base metals and potential easing measures from the ECB.

 

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Tue, 07 Aug 2012 12:05:10 GMT

S&P 500 climbed on Monday

US stocks extended previous gains on Monday amid absence of major fundamentals. Hopes for easing from the ECB and BoJ bolstered US equities. Meanwhile, larger than expected increase in the US non-farms payrolls continued to lend support for US stocks. S&P 500 closed 0.23% higher at 1,394.23 on Monday. Technology and base metals were the strongest industries  in the index.

Tue, 07 Aug 2012 16:32:10 GMT

European consumers spent less in the second quarter

As European governments are implementing austerity measures in order to curb the debt crisis, consumers are reining in spending as well. Consumers in France spent 0.2 per cent less during the second quarter. Meanwhile, consumer confidence in the Eurozone reached three-year low in August. Moreover, companies included in the European Stoxx 600 Index reported lower quarterly earnings and overall consumer spending on services and

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