Gold futures advance during the Asian trade

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Source: Marketwatch

Gold futures advanced during the electronic trade following the common upward commodity trend supported by lower value of the USD. On the Comex Division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,626.00 per ounce, gaining 0.5% since opening.

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Wed, 21 Dec 2011 10:34:18 GMT

Nike sees higher profit on increased sales

Nike reported the increase in profit in Q2 supported by high demand for its products. The earnings of the company surged from $457m to $469m in Q2 with 18% increase in revenue to $5.7bn. However, higher production costs impacted profit margins that declined by 2.6% to 42.7%.

Wed, 21 Dec 2011 10:32:14 GMT

Federal Reserve to adopt stricter rules for US banks

Federal Reserve plans to introduce new rules for big US banks aimed at strengthening financial sector against collapse. The new rules stipulate that banks having over $50bn in assets will be obliged to raise minimum amount of cash hold. The biggest banks as Bank of America and Goldman Sachs will have even stricter requirements. The banks oppose the measure citing the possible drop in lending.

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