Gold appreciated amid Greece's political hopes

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Source: Forexpros
Gold futures went up in Asian session on Monday, being bolstered by indications that more pro-bailout parties are likely to gain power while dip buying opportunities also supported the price increase. COMEX gold June contract traded at 1,575.85 US Dollars per troy ounce on the New York Mercantile Exchange, easing up by 0.30%. Meanwhile, COMEX silver for delivery in July traded at 28.462 US Dollars per troy ounce, advancing by 0.27%.


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Mon, 28 May 2012 06:48:58 GMT

US Dollar dropped on easing Greece's concerns

US Dollar was broadly lower in Asian session on Monday as recent polls indicated that parties favoring bailout measures are becoming more popular in Greece. Hence, the country is likely to stay in the single currency union. EUR/USD added 0.53%, approaching 1.2583 while GBP/USD gained 0.18% to trade at 1.5954. At the same time, the greenback moved down versus the

Mon, 28 May 2012 07:31:59 GMT

China manufacturing companies' profits dropped in April

China manufacturing companies' profits fell 2.2% to USD 64.2 billion in April, National Statistics reported on Sunday. In March companies net earnings advanced by 4.5%. The drop in profit fuels concerns the Chinese economy is slowing to larger extent than expected. Annual manufacturing profit growth for 2012 might be somewhere between 10%-20%, Lu Zhengwei, analyst at Industrial Bank predicted.

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