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Gold rises on technical dealings but posts worst week in a month

Gold rose on Friday as technical indicators and suggestions the U.S. central bank may delay a rate rise provided support, but the metal was still on track to post its biggest weekly drop in five weeks amid dollar strength and strong U.S. economic data. Spot gold (Exchange: XAU=) was up 0.8 percent at $1,134.26 an ounce, but still down more than 2 percent for the week. U.S. gold for December ...
Source: Reuters
No quick ruling in Caesars bondholder case, possible trial looms

NEW YORK, Aug 27 (Reuters) - Caesars Entertainment Corp on Thursday moved a step closer toward a possible trial with bondholders, as a Manhattan federal judge refused to hold the gaming company liable to help repay $7 billion of debt owed by its main operating unit. U.S. District Judge Shira Scheindlin rejected requests by bond trustees BOKF NA and UMB Bank NA that Caesars be deemed to have ...
Source: Reuters
Gold falls for 4th day as US data boosts stocks, dollar

Gold eased on Thursday, headed for its biggest weekly rout since March, as upbeat U.S. growth and jobs data drove up stocks and the dollar, though uncertainty over the timing of a U.S. rate rise held losses in check. Spot gold (Exchange: XAU=) was down 0.2 percent at $1,122.68 an ounce after seeing its biggest down day in five weeks on Wednesday. U.S. gold futures for December (CEC:Commodities ...
Source: Reuters
Not seeing weak demand in energy: Goldman's Currie

Commodities continued their slide Wednesday with silver falling to 2009 levels to join copper and aluminum in trading at six-year lows. But not all commodities, specifically those in the energy space, were in for the same level of pain, according to Goldman Sachs' head of commodities research Jeffrey Currie. "There's a big correlation between whats happening in China and the commodity story ...
Source: CNBC.com | By: Zack Guzman
Some 'safe havens' may not be all that safe

Another day, more market chaos. What's a safety-conscious investor to do? As of Tuesday's close, major U.S. averages-the Dow Jones industrial average (Dow Jones Global Indexes: .DJI), S&P 500 (INDEX: .SPX) and Nasdaq (NASDAQ: .IXIC)-had all shed roughly 10 percent over the last five sessions. The indexes traded higher across the board Wednesday morning but then cut those gains in half. Amid ...
Source: CNBC.com | By: Jacob Pramuk
Precious metals tumble on dollar; investors monitor China, Fed policy

Gold slipped 2 percent on Wednesday as the dollar gained and shares recouped some of their earlier losses, while investors kept a close eye on China's efforts to support its economy. Gold's losses also hurt sentiment in the more industrial precious metals. Silver (CEC:Commodities Exchange Centre: @SI.1) fell 5 percent to $13.93, its lowest since August 2009, while palladium (New York ...
Source: Reuters
The gold bounce has run its course: Technician

Gold (CEC:Commodities Exchange Centre: @GC.1) made a brief attempt at rallying amid global market turmoil. But as the metal falters in its gains, one technician says the bounce in gold has already run it's course, and is about to head lower. ""If you have any ...
Source: CNBC.com | By: Stephanie Yang
Gold falls as China rate cut boosts stocks, palladium sinks

Gold fell more than 1 percent on Tuesday after an interest rate cut from China helped global markets rebound from the previous day's rout, with stocks rallying and the dollar also gaining, while palladium sank more than 7 percent to a five-year low. Bullion extended losses after data showed U.S. consumer confidence hit a seven-month high in August. This suggested underlying strength in the ...
Source: Reuters
BHP Billiton CEO a China bull as profit tumbles 86%

BHP Billiton (London Stock Exchange: BLT-GB) posted a sharp fall in profit, missing analyst expectations in the face of a painful commodity price rout as it warned that economic reforms in China would likely mean further short-term volatility for markets. The mining giant said profits after tax for the full year ending in June tumbled 86 percent to $1.91 billion, sharply down from $13.8 ...
Source: CNBC.com | By: Jenny Cosgrave
Gold falls as dollar pares losses; platinum sinks on stocks rout

Gold turned lower on Monday, as the dollar pared losses, and U.S. shares and other commodity markets staged a comeback while the white precious metals fell on concerns about the Chinese economy. World stock markets initially plunged after a near-9 percent dive in China shares, attracting safe haven buying to gold as crude oil futures fell sharply to 6-1/2-year lows and copper to a six-year ...
Source: Reuters