Singapore: Gold fell for an eighth straight session on Monday to its weakest level in over a month, as fears that the US Federal Reserve may wind back its economic stimulus programme hurt the metal's appeal as a hedge against inflation.
Investors have been dumping gold, which is down 20 per cent so far this year, as stocks and the dollar continue to outperform. If gold closes in the red on Monday, it would match the metal's longest losing streak since March 2009.
"Investors are very bearish at the moment," said Yuichi Ikemizu, branch manager for Standard Bank in Tokyo. "The stock market and the dollar are quite strong. It's a natural move for investors to switch their money from commodities to equities."
Data showed Americans felt better about their economic and financial prospects in early May, with consumer sentiment at its highest in nearly six years, while a gauge of future economic activity rose in April to a near five-year high....
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11:30 AM, May 20, 2013
St.John's, Antigua: England and West Indies will play three Twenty20 matches and three One-Day Internationals in the Caribbean early next year, the West Indies Cricket Board announced. The three One-Day Internationals will be played at the Sir Vivian Richards Cricket Ground in Antigua while Kensington Oval in Barbados will host the T20 games, the WICB said Saturday. The Twenty20 matches will be the last before the West Indies defend their...
06:06 PM, May 19, 2013
New Delhi: A recently slain cop joins a team of police officers working for the Rest in Peace Department and tries to find the man who murdered him. Directed by Robert Schwentke, the film stars Jeff Bridges, Ryan Reynolds, Kevin Bacon, Mary-Louise Parker and Stephanie Szostak in the lead roles. ...
10:41 AM, May 18, 2013
New Delhi: Rolling down gold prices dropped to one-month low by losing Rs 500 to Rs 26,800 per 10 grams in the national capital today on heavy selling by stockists driven by weak global trend. This fall was in continuation to a steep fall of Rs 600 on Thursday to hit a level last seen on April 17, after the metal tumbled in overseas markets driven by reports investors cutting...
04:59 PM, May 16, 2013
London: Gold fell for the fifth straight session on Wednesday, hitting a three-week low as the dollar strengthened to a six-week high versus the euro after weak euro zone data. While gold has recovered around 7 per cent from a two-year trough of $1.321.35 an ounce hit in mid-April, its safe-haven appeal has been battered by record-high US equities and signs of an improving US economy. Spot gold fell 0.8...
05:10 PM, May 15, 2013
Washington: A US Marine officer will be court martialed for his alleged role in the scandal sparked by a 2011 video that showed American soldiers urinating on the corpse of a Taliban fighter. Captain James V Clement will be tried at a special court-martial for his alleged misconduct during a counter-insurgency operation in the vicinity of Sandala, Musa Qala District in Helmand Province, Afghanistan, on or about July 27, 2011,...
10:00 AM, May 14, 2013
London: Gold fell 1.2 per cent on Monday, holding near its weakest level in two weeks, as the dollar firmed on signs of an improving US job market and as holdings in exchange-traded funds slipped again. Bullion's safe-haven appeal has been dimmed by speculation the Federal Reserve could scale back its aggressive monetary stimulus after recent US labour market data pointed to a steady recovery trend in the world's largest...
04:52 PM, May 13, 2013
Mumbai: A limited edition Sachin Tendulkar gold coins, with the senior cricketer's face and signature embossed on them, were launched on Monday on the auspicious day of 'Akshaya Tritiya'. Valuemart Gold and Jewels launched one lakh Sachin Tendulkar gold coins, each weighing 10 grams, in the senior cricketer's presence in Mumbai. The 24 karat gold coin is priced at Rs 34,000 and will be available on valuemartgold.com and leading jewellery...
04:37 PM, May 13, 2013
Mumbai: With gold imports putting pressure on the current account deficit, the Reserve Bank on Monday imposed restrictions on import of the yellow metal by banks. "To moderate the demand for gold for domestic use, it has been decided to restrict the import of gold on consignment basis by banks, only to meet the genuine needs of exporters of gold jewellery," the RBI said in a statement. As per a...
03:36 PM, May 13, 2013
Mumbai: Shares of jewellery manufacturers on Monday gained up to 7.5 per cent in an otherwise weak stock market amid hopes of pick-up in sales of gold jewellery and coins on Akshaya Tritiya. Thangamayil Jewellers soared by 7.49 per cent, Tribhovandas Bhimji Zaveri (3.19 per cent), Tara Jewels (3 per cent), Titan Industries (1.24 per cent), Rajesh Exports (1.84 per cent), Shree Ganesh Jewellers (1.84 per cent). Akshaya Tritiya is...
01:52 PM, May 13, 2013
New Delhi: Country's merchandise exports grew by 1.6 per cent to $24.16 billion in April this year, whereas imports increased by 10.9 per cent. Imports during the reported month stood at $41.95 billion. Exports in April 2012 stood at $23.7 billion, while imports were at $37.8 billion. Due to high imports, the trade deficit rose to $17.8 billion, Commerce Secretary SR Rao told reporters on Monday. Rao attributed the widening...
01:45 PM, May 13, 2013
London: West Ham manager Sam Allardyce has ended uncertainty about his future by signing a new two-year contract with the Premier League club. The 58-year-old Allardyce has been in charge at Upton Park since 2011 and led West Ham back into the Premier League, where the team is assured a second successive season. West Ham co-owner David Gold announced on his Twitter account that Allardyce had a signed a new...
10:22 PM, May 11, 2013
London: For almost 27 years, Old Trafford has witnessed Alex Ferguson venting his anger from the dugout, berating officials, anxiously checking his watch and making celebratory jigs down the touchline. On Sunday, 76,000 fans have one final chance to witness - and savor - the most successful manager in British football history taking charge of Manchester United on home soil. With the 13th Premier League of Ferguson's reign wrapped up...
06:29 PM, May 10, 2013
Manchester United on Wednesday confirmed Sir Alex Ferguson will leave the club at the end of this season after spending 26 years at Old Trafford. Ferguson will now be the director and ambassador at the club after leaving the coaching job. According to British media reports, Everton manager David Moyes is the red-hot favourite to replace Ferguson after the English team failed to woo former Barcelona coach Pep Guardiola a...
02:36 PM, May 08, 2013
The Daulat Begi Oldi airfield gives India advantage in the area. India wants to protect the Siachen Glacier positions from eastern attack. ...
10:25 PM, May 07, 2013
New Delhi: China on Tuesday rejected talks that India had made concessions in the Chumar region in southern Ladakh to end its standoff across the Line of Actual Control (LAC), triggered by the recent incursion by Chinese troops in Ladakh's Daulat Oldi Begi sector. After the three-week long standoff ended on Monday, speculation was rife that India had agreed to demolish a border observation bunker in the Chumar region in...
06:54 PM, May 07, 2013
India and China border stand-off in Ladakh did end. Yet, details of any agreements are sparse. ...
09:41 PM, May 06, 2013
New Delhi: With China-India standoff in Ladakh sector coming to an end, sources said on Monday that Delhi has not given in to any of the demands made by Beijing. "The governments of India and China have agreed to restore status quo along Line of Actual Control (LAC) in Western Sector as it existed prior to April 15. Flag meetings have been held to work out modalities and to confirm...
02:07 PM, May 06, 2013
Srinagar: Jammu and Kashmir Chief Minister Omar Abdullah on Monday said the Centre must clarify the ground situation in Ladakh region following withdrawal of the Chinese troops from Daulat Beg Oldi sector. "Some amount of clarity from Government of India, particularly from the Ministry of Defence, would be desired so that we would know exactly what the ground position is. But the fact that the Chinese have withdrawn is something...
01:21 PM, May 06, 2013
