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Gold and Oil News - February 4, 2011 14:48
Oil prices higher on economic outlook
Oil prices are finishing off a second week of gains Friday (February 4) as the latest round of jobs data is expected to offer hope that the US economy is improving.
Dollar weakness pervasive
Dollar weakness across the board is the central theme in currency and oil trading midweek despite relatively stronger earnings reports from companies like Time Warner and Whirpool.
Gold and oil prices slump
Strong earnings this week from some powerful companies have bolstered optimism in an economic recovery. Friday (January 21) morning, General Electric said its fourth-quarter net income was $4.5 billion (compared to $3 billion in the same quarter last year), which amounts to $.42 per share (compared to $.28 cents in the same quarter).
Dollar flounders despite strong Apple, IBM earnings
Despite strong quarterly earnings reports from tech giants Apple and IBM, the dollar remains weak across the board.
Oil prices push to two-year high
Oil prices closed at their highest level since October 28th after a settle price of $91.86 on Wednesday. The current (January 13) price is $91.79 on the New York NYMEX for one barrel of light sweet crude futures scheduled for February delivery.
Dollar surges on strong jobs report
The dollar is up across the board Wednesday morning following a tremendously positive and surprising report on private sector jobs in the United States.
Gold prices settle above $1,400
Gold prices have settled above the $1,400 mark and are making a third run at maintaining this level to close out 2010.
Oil prices at two-year high
Oil prices are pushing higher after reaching the highest mark in two years this week. A barrel of light sweet crude settled at $91.51, up $1.03, on the New York NYMEX Futures board Wednesday (December 23).
Euro, pound down as US economy improves
According to a recent survey by CNN Money, top economists are projecting a 3.1 per cent gross domestic product (GDP) for the United States economy during the final quarter of 2010, after a 2.6 per cent third quarter increase.
Euro falls after debt deal
The euro has been hit hard overnight and in early Friday morning New York currency trade following news that the European Union members reached a deal to help prevent future debt problems in the region.
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