Economy

xchrom

(108,903 posts)

42. PRECIOUS-Gold rises as Spanish bond sale lifts euro

Thu Jan 12, 2012, 10:01 AM

Jan 2012

http://uk.reuters.com/article/2012/01/12/markets-precious-idUKL3E8CC3DA20120112

LONDON, Jan 12 (Reuters) - Gold climbed towards $1,660 an ounce on Thursday as the euro rose against the dollar after a well-received auction of Spanish bonds, but its gains were curbed by uncertainty ahead of a European Central Bank news conference later in the day.

Firm demand for the precious metal from leading consumers China and India and a recovery in prices to above a key technical level are reassuring investors that the metal can keep rising after prices fell 10 percent in December, analysts said.

Spot gold was up 1 percent at $1,656.89 an ounce at 1251 GMT, having earlier touched a one-month high at $1,657.60. U.S. gold futures for February delivery were up $18.00 an ounce at $1,657.60.

Traders are awaiting the ECB press conference scheduled for 1330 GMT, after the bank opted earlier to leave interest rates on hold. The wording of the post-announcement statement will be closely watched for any suggestion of further monetary easing.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

108 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH -- Thursday, 12 January 2012 [View all] Tansy_Gold Jan 2012 OP

1st Rec. Wow been a while. n/t kickysnana Jan 2012 #1

What can I say, Tansy, good American folks? Ghost Dog Jan 2012 #2

Oh, you have no idea Tansy_Gold Jan 2012 #3

We can't trust you anymore. That's the fact. Ghost Dog Jan 2012 #4

Well, frankly, I don't know why you should be any different Tansy_Gold Jan 2012 #25

No quills for that bitch Po_d Mainiac Jan 2012 #40

. Tansy_Gold Jan 2012 #45

Ok. Ghost Dog Jan 2012 #94

You Rang? Demeter Jan 2012 #6

I believe Ghost Dog is trying to knock a rather large chip off of someone's shoulder. n/t Hugin Jan 2012 #15

Who, me? Ghost Dog Jan 2012 #19

Try to keep it down. Hugin Jan 2012 #31

Step slowly away from the time/warp continuum Po_d Mainiac Jan 2012 #52

Words to live by.... AnneD Jan 2012 #69

Crazy? Fuddnik Jan 2012 #74

Is that what u call it? 'The Crazy' Po_d Mainiac Jan 2012 #76

Just good advice I got... AnneD Jan 2012 #80

Another piece of advice dixiegrrrrl Jan 2012 #83

I did a PRN stint... AnneD Jan 2012 #87

Teachers really are the best to look after others DemReadingDU Jan 2012 #96

That's a very nice story. And good to know that sometimes no red tape is necessary, Ghost Dog Jan 2012 #97

Top Greek union calls austerity strike Ghost Dog Jan 2012 #5

I was there .... and that performance still bread_and_roses Jan 2012 #49

Yeah. Ghost Dog Jan 2012 #99

This is where we all start to realize Warpy Jan 2012 #81

That's my feeling about what I sense other people feeling around here, in (far) Southern Europe. Ghost Dog Jan 2012 #98

I'll see your 1% Cartoon and Raise You Another from Dilbert Demeter Jan 2012 #7

AND THEN, THERE'S REALITY: Three Carlyle founders shared $413m last year Demeter Jan 2012 #8

The Real Crisis in Capitalism By Bill Bonner Demeter Jan 2012 #12

FUCKERS! n/t Hotler Jan 2012 #50

Goldman departures a sign of higher turnover Demeter Jan 2012 #9

They might have to lay off half the Cabinet. Fuddnik Jan 2012 #28

Wouldn't THAT Be a Shame! Demeter Jan 2012 #57

Duzy...in a bitter way. dixiegrrrrl Jan 2012 #84

Rivals circle over Romney�s �vulture� past Demeter Jan 2012 #10

I thought they would be all over him..... AnneD Jan 2012 #72

Irish farming reaps growing success Demeter Jan 2012 #11

Oil refiners sever links to Iran Demeter Jan 2012 #13

�When Offshoring Backfires� Demeter Jan 2012 #14

When offshoring backfires / Xiaole Wu Fuqiang Zhang Demeter Jan 2012 #16

So, add a deep recession plus peak energy costs = dixiegrrrrl Jan 2012 #85

They couldn't give that muck they burn away Demeter Jan 2012 #103

Marshall Auerback: The Road to Serfdom Demeter Jan 2012 #17

Why the Fed Needs to Talk More About Housing Demeter Jan 2012 #18

How a Little Bit of Good Economic News Can Be Bad for the President By Robert Reich Demeter Jan 2012 #20

How Nice that Today's Unemployment Reports Took Care of That Little Problem! Demeter Jan 2012 #78

Underwater Homeowners May Swim Freely By Lena Groeger Demeter Jan 2012 #21

But the "vacant" houses he counted could also belong to dead people.. dixiegrrrrl Jan 2012 #86

"Facts" seem to play no part in this economic fiasco Demeter Jan 2012 #104

Full-Blown Civil War Erupts On Wall Street � Financial Elite Start Turning On Each Other Demeter Jan 2012 #22

Feeding frenzy, good. Hotler Jan 2012 #70

Thanks for the good news!!!!! dixiegrrrrl Jan 2012 #88

Soldiers With Automatic Weapons Checking IDs at a Social Security Office in Florida: Training? Demeter Jan 2012 #23

One small step against Terrorism...... AnneD Jan 2012 #73

GOP plan: No HS diploma? No unemployment check Demeter Jan 2012 #24

Sears Noose Tightens As CIT Leaves Company Cold With No Vendor Financing DemReadingDU Jan 2012 #26

Not 3 weeks ago I said they were going under dixiegrrrrl Jan 2012 #89

morning xchrom Jan 2012 #27

RBS ditches investment bank in fresh jobs cull xchrom Jan 2012 #29

Amazing! Demeter Jan 2012 #58

I wonder if this will work? Fuddnik Jan 2012 #30

Still looks rightside up DemReadingDU Jan 2012 #36

Nope. There's a madness to my method. Fuddnik Jan 2012 #51

Thanks.... AnneD Jan 2012 #75

My cat just meows--in a cranky fashion Demeter Jan 2012 #79

My cat only activates when she is hungry DemReadingDU Jan 2012 #91

ah ha! DemReadingDU Jan 2012 #95

I'm okay until about 2 PM Demeter Jan 2012 #105

Today's Reports Roland99 Jan 2012 #32

Weekly U.S. jobless claims jump 24,000 to 399,000 Roland99 Jan 2012 #33

Four-week claims average rises 7,750 to 381,750 Roland99 Jan 2012 #34

Continuing claims climb 19,000 to 3.63 million Roland99 Jan 2012 #35

U.S. Dec. retail sales up 0.1% vs. 0.3% expected (Nov revised up to 0.4% from 0.2%) Roland99 Jan 2012 #37

U.S. Dec retail sales post weakest reading in 7 months xchrom Jan 2012 #39

Sounds like that recovery is just chugging along. Fuddnik Jan 2012 #55

You Know, I STILL Haven't Done Any Christmas Shopping Demeter Jan 2012 #59

I went through the same thing over Thanksgiving. Fuddnik Jan 2012 #67

World Bank President Robert Zoellick on Europe's frozen liquidity Roland99 Jan 2012 #38

Judicious use of blackmail, as usual Demeter Jan 2012 #68

Futures dropping after employment data. from +50 to nearly flat now. Roland99 Jan 2012 #41

PRECIOUS-Gold rises as Spanish bond sale lifts euro xchrom Jan 2012 #42

Draghi Sees Substantial Downside Risks Roland99 Jan 2012 #43

I think Draghi Is Sending a Message to His "Superiors", the ones who installed him in office Demeter Jan 2012 #60

Industrial output fall raises recession risk xchrom Jan 2012 #44

Energy costs push German inflation rate up to 2.3% xchrom Jan 2012 #46

India industrial output rebounds easing growth concerns xchrom Jan 2012 #47

China inflation rate little changed at 4.1% in December xchrom Jan 2012 #48

Five Ways Obama Could Create Good-Paying Jobs in America xchrom Jan 2012 #53

I could think of simpler, cheaper and more effective ways Demeter Jan 2012 #61

I darkened the doorway of Juilliard. xchrom Jan 2012 #66

Rec. Thank you for SMW. Hotler Jan 2012 #54

Another satisfied customer! Demeter Jan 2012 #62

Right back atcha... AnneD Jan 2012 #77

Spain breezes through first debt auction of the year xchrom Jan 2012 #56

Boy, the Market and the $ took the Unemployment reports on the chin! Demeter Jan 2012 #63

Will Obama Issue an Order Exposing Big Corporate Political Spenders in Citizens United Era? Demeter Jan 2012 #64

Have the Super-Rich Seceded From the United States? Demeter Jan 2012 #65

When I don't feel good I take some of this Hotler Jan 2012 #71

I need some of that DemReadingDU Jan 2012 #92

Well, DU3 Has Run Nearly a Month, Now Demeter Jan 2012 #82

This is the only thread I visit on DU3 DemReadingDU Jan 2012 #93

The echo chamber effect is mind numbing. westerebus Jan 2012 #100

Good points, all. Ghost Dog Jan 2012 #101

Pull out? westerebus Jan 2012 #102

I think it's worse than Nixon Demeter Jan 2012 #106

The continuation of mutual interests. westerebus Jan 2012 #108

Matty Moroun could face lengthy incarceration tclambert Jan 2012 #90

That explains a lot. Thanks, TC Demeter Jan 2012 #107