Gold futures moved up in US session

Note: This section contains information in English only.
Source: Forexpros
Gold prices increased during US session on Thursday despite broadly stronger US Dollar. Unexpected contraction of Philly Fed manufacturing index added to hopes for new round of QE in the US thus stimulating gold prices. COMEX gold June contract traded at 1,573.15 US Dollars per troy ounce on the New York Mercantile Exchange, gaining 2.38%.


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Fri, 18 May 2012 07:13:38 GMT

Moody's downgrades 16 Spain's banks

Moody's reduced credit rating of 16 Span's banks, citing a rise in bad debts in the country's financial sector and overall deterioration of the economic environment. The decision came after shares of Bankia lost another 14%. The largest banks such as Banco Santander and BBVA were downgraded while ten out of 17 banks were put on negative watch, implying that

Fri, 18 May 2012 06:52:32 GMT

Philadelphia's manufacturing activity contracted unexpectedly in May

Philadelphia's manufacturing activity shank in May after eight consecutive months of expansion. Philly Fed manufacturing index lost 14.3 points, approaching 5.8 this month as compared to April's figure of 8.5, reported the Fed. Experts predicted the index to gain 1.5 points to 10.0 this month. The data lingers concerns over speed of economic recovery in the US.

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