Gold drops on strengthening Dollar

Source: Bloomberg
Gold declined after a three-day rally as its rise to a week high boosted sales and as the U.S. Dollar's strength weakened demand for the metal as an alternative investment. On Wednesday, spot gold fell 0.2% to $1,609.15 per ounce, after rising to $1,618.40 yesterday, the strongest since August 1. Bullion for December delivery dropped 0.1% to $1,610.70 per ounce.
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Wed, 08 Aug 2012 09:01:12 GMT

Oil falls as U.S. demand slows

Oil tumbled from the two-month high close amid speculation recent gains were over-optimistic on signs of weakening demand of the U.S., the world's major consumer of oil. Futures slipped 0.5% after a three-day rise. September-delivery oil fell to 93.17 per barrel. September-settlement Brent crude dropped 0.4% to $111.55 per barrel.

Wed, 08 Aug 2012 13:55:12 GMT

Greenback turned lower on Eurozone's hopes

On Tuesday, August 7, the greenback remained lower versus the Euro and other major currencies amid hopes that the ECB will soon make decisive actions to stem the debt crisis in the Eurozone. In order to lower Italian and Spanish borrowing costs, the ECB may soon resume bond-buying program.  The shared currency strengthened against the greenback during today's New York trading session, with EUR/USD adding 

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