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  • Oil climbs more than a dollar after American approval for air strikes in Iraq

    Oil climbs more than a dollar after American approval for air strikes in Iraq

    SINGAPORE (Reuters) – Oil prices rose more than a dollar during Asian trade on Friday after the United States agreed to air strikes against militants in the organization of the Islamic State of Iraq, which increases the risk of blocking the supply of a major oil producer.

    Crude prices received support also from data showing that China’s exports recorded a jump of 14.5 percent in July.

    And President Barack Obama said he gave permission for limited use of American air power against Islamist militants who apply in northern Iraq to protect Americans there but he has no intention of being sucked into a war there.

    And stepped up international contracts for crude measurement Brent crude for September delivery Eul $ 1.37 to 106.85 dollars a barrel before easing to 106.46 dollars by 0430 GMT. Brent and moving to end the week on a gain of about 2 percent.

    The US crude futures rose $ 1.11 to 98.54 dollars a barrel before easing to 97.94 dollars.

    And widened the gap between the prices of already allocated indices to 8.53 dollars.

  • Rising gold futures by 0.4%

    Rising gold futures by 0.4%

    Gold prices rose to reach its highest level in two weeks with the support of declining stock performance, which led to boost demand for the precious metal.

    According to Bloomberg that the S & P 500 has fallen about 0.6% to be achieved thereby reducing the gains in the early sessions, and in light of mounting concerns exacerbated tensions between Russia and Ukraine, to the extent that leads to harm the chances of recovery of the global economy. This comes while Jason Furman said chairman of the White House economic advisers, said that additional sanctions will be imposed in the absence of a change in its approach to Russia to Ukraine.

    Said Tom Bauer, an expert market strategies with company NRG or Vetcherz in Chicago, said that the poor performance of the stock due to uncertainty in Ukraine pushes gold to continue to climb to the top.

    The prices of gold futures for December delivery rose 0.4 percent to 1,313.20 dollars an ounce in mid-session at the Comex in New York Stock Exchange. The total price level in the early sessions of $ 1,315.50, which is the highest level recorded since 22 July

  • Gold jumps 1.6% with continued risk aversion due to Ukraine

    Gold jumps 1.6% with continued risk aversion due to Ukraine

    LONDON (Reuters) – Gold rose 1.6 percent on Wednesday to continue the modest gains recorded in early dealings with the continued pressure on global equities because of fears of escalating conflict in Ukraine, which has increased demand for assets that are considered a safe haven.

    Russia mobilized about 20 thousand troops on the eastern border of Ukraine and NATO said in a statement on Wednesday that it may invoke mount a humanitarian mission or peacekeepers to be sent to Ukraine.

    The price of gold jumped in online transactions, including reached 1.6 percent, its highest level during the week of $ 1309.20 an ounce and by the time 1407 GMT was trading up 1.5 percent at 1306.31 dollars an ounce.

    Gold rose U.S. delivery December to $ 22.20 to $ 1307.50 an ounce.

    The price of silver in online transactions 1.5 percent to $ 19.99 an ounce.

    Platinum rose 0.5 percent to record 1456.1 dollars, while palladium fell 0.1 percent to 843.50 dollars an ounce.

  • Gold prices begin a new wave of decline to the lowest level

    Gold prices begin a new wave of decline to the lowest level

    Gold prices fell below the levels of 1290 dollars an ounce exceeded analysts’ expectations, with growth data for the U.S. in addition to the reduction of the hedge fund positions for long-term

    And decreased gold futures for December delivery in electronic trading on the New York Stock Exchange during trading today, rose 0.4% to $ 1289 dollars.

    Hedge funds reduced their positions from a long-term contract to 122.1 thousand in the week ending twenty-ninth of July, while the short-term holdings fell by 24% to 26.1 thousand contract.

    And many experts predict that the direction of gold remains negative today as analysts refer to a decline in prices of the precious metal to levels approaching of 1280 dollars, when unshielded target price levels close to 1270 dollars to consist of purchasing opportunities according to their expectations.

  • Receding fears of rising U.S. interest rates supports gold prices

    Receding fears of rising U.S. interest rates supports gold prices

    Gold Found a good support above $ 1,290 an ounce on Monday, where trimmed weak data on non-expected job of U.S. concerns that baptizes the Federal Reserve, the U.S. central bank to increase interest rates soon, while the resulting decline in the stock to buying in search of a safe haven .

    The data on Friday showed U.S. jobs growth slowed in July, and the sudden rise of the unemployment rate, which predicts remarkable ease in the labor market. The non-farm payrolls increased 209 thousand last month, while economists expected increase 233 thousand.

    The data support the viewpoint that the Fed’s sharp decline in the unemployment rate over the last year hides the significant weakness in the labor market, which refers to the need to keep interest rates at current levels extremely low.

    By the time 0643 GMT, the spot price of gold was little changed at 1294 dollars an ounce, after rising about one percent on Friday after weak U.S. data. Silver rose 0.6 percent to 20.41 dollars an ounce.

    Platinum rose 0.4 percent to hit U.S. $ 1460.25 and palladium rose 0.3 percent to 864.22 dollars an ounce.

  • Gold climbs 1 percent after disappointing data on the U.S. jobs

    Gold climbs 1 percent after disappointing data on the U.S. jobs

    Gold prices rose about 1 percent on Friday counterattack four consecutive sessions of losses after data showed weaker-than-expected growth of jobs in the United States, which shattered expectations that the Federal Reserve raises U.S. interest rates soon, raising Javebh the precious metal as a hedge.

    But gold finish the week on a loss of 1 percent is the third weekly loss in a row. The prices fell on Thursday to its lowest level in six weeks on reports showing strong growth for the U.S. economy and a significant increase in wages.

    The price of spot gold 0.9 percent, to 1292.89 dollars an ounce in late New York trade, recovering from its lowest level in six weeks on Thursday and hit of 1280.76 dollars.

    Analysts said the gains of gold stopped when the yellow metal failed to breach the key level of resistance near the average driven in 100 days at 1298.00 dollars.

    The price of gold in the U.S. futures for December delivery in December to $ 11.40 to $ 1294.20 an ounce.

    Said a trader in Hong Kong that the actual demand in Asia failed to recover in a strong manner in spite of a drop in prices on Thursday.

    And gold prices remain high more than 7 percent from its level at the beginning of the year, but most of the gains were in the first quarter. Gold fell 3.4 percent in July, the biggest monthly loss this year.

    Among other precious metals silver fell 0.5 percent to 20.24 dollars an ounce, while platinum rose 0.3 percent to 1457.50 dollars an ounce and palladium fell 0.7 percent to 862.75 dollars an ounce

  • Dollar gives up gains after U.S. labor data

    Dollar gives up gains after U.S. labor data

    The dollar gave up gains against other major currencies on Friday, and the decline came after the monthly report data to the U.S. Department of Labor data.

    Shortly before, the Labor Department said in its monthly report, the U.S. is anticipated, that the U.S. economy has added 209 thousand jobs last month, the numbers were disappointing, where she was waiting Alosouk an increase of 233 thousand. The report also announced that it has been revised a number of jobs added in June to 298 thousand jobs from the preliminary figure of 288 thousand.

    The report also showed that the unemployment rate in the U.S. rose slightly to 6.2% last month from 6.1% in June / June Analysts had expected the unemployment rate to remain unchanged in July / July

    The EUR / USD shedding 0.02% to trade at 1.3393.

    Earlier in the day, said market research group Markit that PMI manufacturing in Germany fell to 52.4 points last month from 52.9 in June / June Analysts had expected the index to remain unchanged.

    As for the euro area as a whole, has said that the Markit index fell slightly to 51.8 in July from 51.9 points in reading the previous month. Analysts had expected and also the survival of the cursor on the case.

    Elsewhere, the greenback / yen rate of 0.09% to trade at 102.69 while holding USD / CHF trading close to its highest price in 6 months at 0.9057.

    Sterling also fell to its lowest level in a month and a half again, with trading the GBP / USD lower by 0.23% to hit 1.6847.

    In the United Kingdom, has said market research firm Markit that its index of purchasing managers for the manufacturing sector fell to 55.4 points last month, to read 57.5 points in June / June Analysts had expected the index to slip to 57.2 points in the month.

    It also rose three currencies that carry the name of the U.S. currency in all of Australia, New Zealand and Canada against the dollar as well. It has risen AUD / USD shedding 0.22% to hit 0.9314, and so did the dollar / Nioselndealve progress by 0.24% to hit 0.8520, while USD / CAD shedding 0.04% to hit 1.0899.

    This record U.S. Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, increased by 0.22% when reading 81.36, to remain close to its highest level in 11 months, at 81.66, the highest level since September / September last year .

    Later in the day, the Institute of Supply Management was to publish data activity of the industrial sector in the United States.

  • Gold rises from the lowest level in six weeks before U.S. data

    Gold rises from the lowest level in six weeks before U.S. data

    The price of gold rose slightly on Friday, above its lowest level in six weeks on Thursday, hit with the approach of the dollar from its peak in ten months, but moves were limited ahead of U.S. jobs data, which may trigger a new wave of selling.

    The jobs data after a string of upbeat reports the U.S. economy, which included signs of improvement in the job market. The data show the largest increase in labor costs in five and a half years in the second quarter may have contributed to the decline in gold increased by one percent on Thursday.

    The price of spot gold up 0.2 percent to 1284.50 dollars an ounce 1202 GMT. Gold was the record of $ 1280.76 on Thursday, its lowest level since June 19.

    The price of gold futures contracts U.S. $ 2.50 to U.S. $ 1285.30 an ounce.

    It is expected to show the jobs report for the month of July, adding 233 thousand jobs to the economy last month, the sixth month in a row that the economy added more than 200 000 jobs to be the longest wave of its kind since 1997.

    Among other precious metals, the price of silver in online transactions 0.1 percent to 20.37 dollars an ounce.

    Platinum was down 0.1 percent to 1453.74 dollars an ounce and palladium lost 0.3 percent to 864.72 dollars an ounce

  • Gold falls to lowest level in 6 weeks

    Gold falls to lowest level in 6 weeks

    Increased gold losses during trading on Thursday to 1 percent, falling to its lowest level in six weeks, heading to record the second monthly loss in three months with weak demand due to investor optimism the U.S. economy, which disrupted the positive impact of a message from the Federal Reserve (the U.S. central bank) that he does not hurry to increase interest rates.

    The Council on Wednesday lifted its assessment of the world’s largest economy, but stressed at the same time monetary policy is very soft.

    Hours before the statement from the U.S. central data showed that gross domestic product grew at an annual rate of 4 percent in the second quarter after shrinking by 2.1 percent after adjustment in the first quarter.

    By the time 1820 GMT, dropped the price of spot gold to 1282.20 dollars an ounce, after hitting earlier in the session to $ 1281.50, its lowest level since the nineteenth of June.

    And moving the yellow metal to record a loss of 3.3 percent this month, after a jump of 6 percent in June, while investors accept the purchase by the international political tension and confirm its commitment to the Central American monetary easing measures and low interest rates.

    The price of gold fell to U.S. futures contracts 1.04 percent, to 1283.40 dollars an ounce.

    The markets are looking forward to the jobs data in the non-agricultural sectors in the United States, which issued on Friday is expected to show the number of jobs increased by 233 thousand new jobs in July.

    Among other precious metals, silver fell Spot 1.2 percent to 20.35 dollars an ounce.

    Platinum fell 1.1 percent to 1458.24 dollars an ounce, while palladium fell 0.8 percent to 868.25 dollars an ounce

  • Societe Generale profit rises 7.8% in the 2 quarter

    Societe Generale profit rises 7.8% in the 2 quarter

    Societe Generale announced on Friday a net profit of 1.03 billion euros (1.38 billion dollars) in the second quarter, up 7.8 percent compared with the same period a year ago with the support of lower expenses and the cost of risk.

    The second-largest listed bank in France that revenue fell to 5.893 billion euros from 6.12 billion a year ago.

    However, operating expenses decreased 1.3 percent and also declined allocations non-performing loans.

    Societe Generale said it has also increased its provisions relating to lawsuits by 200 million euros to 900 million euros by the end of June of 2014.

    The bank did not elaborate on these allocations. But the bank said in its annual report this year that he was in talks with the U.S. Office of Foreign Assets Control in relation to dollar conversions carried out on behalf of the entities headquartered in countries subject to U.S. sanctions.

    The annual report also said that the name of the bank stated in the lawsuits related to the U.S. of manipulating exchange rates.

    Like other European banks, Societe Generale is selling assets to strengthen its balance sheet and improve profitability in light of slower growth in Western Europe.

    The bank targets a return on equity of ten percent by the end of 2016.

    Russia accounted for seven percent of the bank’s revenues in the year 2013. Societe Generale, said that “the momentum is still good business” there with the growth of outstanding loans of 5.3 percent.

    Bank remains committed to the Russian investment despite political tensions between Moscow and the West over Ukraine crisis. The bank aims to maintain the level of exposure to Russia at three percent of the outstanding loans.