Gold gains capped by EU debt concerns, fiscal cliff

Source: Bloomberg
© Scanpix/Reuters
On Thursday, gold was volatile as concerns about U.S. fiscal cliff and debt crisis in EU supported the dollar, which is negatively correlated with the metal, while assets held in exchange-traded products reached an all-time high. Immediate delivery prices for the precious metal rose by 0.2% and consolidated at $1,718.80 per troy ounce by 2:09 p.m. in Singapore.
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Thu, 08 Nov 2012 13:56:11 GMT

Hong Kong shares dropped ahead of leadership change

Hong Kong equities sank on Thursday as investors were cautious after 18th Chinese Communist Party Congress started on Thursday, where a leadership change is to take place. Pushing Hong Kong blue chips lower, the European Commission lowered its growth forecast for the eurozone from 1% to 0.1% for 2013. Moreover, worries over the US fiscal cliff also added to losses

Thu, 08 Nov 2012 15:45:22 GMT

German bonds held still before Spain debt sale, ECB decision

On Thursday, German government notes were little changed before ECB decision on interest rates and Spanish debt auction. The yield on benchmark 10-year notes decreased less than 1 basis point and reached a level of 1.38% by 7:22 a.m. in London. Yesterday, the yield fell to 1.36%, almost hitting a nine-month low.

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