By Shyamantha Asokan, Published: May 17
MUMBAI — Kumar Jain’s small shop in Zaveri Bazaar, Mumbai’s labyrinthine jewelry district, has the feverish atmosphere of a Wall Street trading room. Women wave calculators, quote the latest global gold prices and haggle fiercely over bangles laid out on velvet trays.
These buyers are thinking about finance rather than finery. “Money can change value,” said Jain, as he watched his shop assistants and customers do battle. “But when you have gold, no one can cheat you.”
Click here for more…By Wallace Witkowski, MarketWatch
SAN FRANCISCO (MarketWatch) — Gold prices helped Canadian stocks break their four-day losing streak Thursday, but just barely, as futures for the precious metal bounced off 10-month lows.
Shares of Barrick Gold Corp. CA:ABX +6.86% closed up 6.9%, Goldcorp Inc. CA:G +6.90% jumped 6.9%, Yamana Gold Inc. CA:YRI +4.55% shares rose 4.6%, Eldorado Gold Corp. CA:ELD +5.76% rose 5.8%, and Kinross Gold Corp. CA:K +6.47% shares advanced 6.5%.
Click here for more…UPDATED8:00 AM Friday May 18, 2012
Investors are running for the hills by opting for the relative safety of the fixed-income securities deemed safest as the turmoil in Europe continues, fanning the fire of concern over the risk of a euro break-up.
"It's not Greece leaving the euro that is the major issue," John Bearman, chief investment officer at Thomas Miller Investment, told Reuters. "It's the domino effect."
Click here for more…* Gold almost hits 100-week moving average for first time since 2009
* Bullion notches largest one-day gain since late January
* Tentative physical buying returns (New throughout, updates prices and market activity)
By Josephine Mason
NEW YORK, May 17 (Reuters) - Spot gold rallied more than 2 percent o n T hursday for its largest one-day gain since January, as technical buy signals and a decline in regional U.S. factory activity more than offset deepening despair over the euro zone.
Click here for more…The New Zealand dollar drifted lower against the greenback overnight but held its ground against most other major currencies with investors regarding Australasia as a relative safe haven amid European ratings fears.
The kiwi recently traded at US76.40 cents, down from US76.71c at 5pm yesterday, while on the Trade Weighted Index of major trading partners' currencies it slipped to 69.22 from 69.44.
