Gold erases previous losses despite greenback's strength

Source: Forexpros
Gold futures jumped at the Asian session on Tuesday, erasing some of the previous losses despite stronger US Dollar. Traders were mainly inspired by waning corners over Spain's debt crisis as the ECB is likely to intervene to ease credit pressure in the country. COMEX gold futures for delivery in June traded at 1,652.85 US Dollars per troy ounce on the New York Mercantile Exchange, gaining 0.19%.


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Tue, 17 Apr 2012 12:19:24 GMT

India's central bank cut interest rate by 50 bsp

India's central bank unexpectedly reduced its interest rate by 50 basis points instead of 25 basis points widely projected.  It is the first interest rate cut in the last three years. The move is intended to boost sluggish economic growth of the country as GDP expansion in Q1 slowed to three-year low of 6.1%. The RBI also warned there is

Tue, 17 Apr 2012 12:27:11 GMT

Romney moves closer to Obama in telephone poll

President Obama's advance over Republican rival Mitt Romney has declined reaching a gap of 4 percentage points compared to 11 points in previous month as Romney has become as the potential presidential nominee from Republican Party. 47% of registered voters supported Obama in telephone poll made from April 12-15 while 43% voted in favor of Romney. In same type of

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