Gold and Oil News
Gold and Oil News - January 21, 2011 17:28
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).
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.
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).
Risk appetite keeps gold prices in check
US equities remain near 2010 highs as the Dow flirts with the 11,500 level. Renewed appetite for riskier investments has kept gold prices under wraps in recent weeks.
Gold prices reach new high as dollar weakens
Gold prices continue to move to new all time highs with a lower dollar this week. One ounce of gold approached $1,431 in early New York NYMEX trade Tuesday (December 7) morning and currently nets $1,429.40.
Oil prices near 2010 high
Watching oil prices move in the last several months has been like watching grass grow, relative to the highly volatile action during the summer of 2008.
Gold breaks $1,400 for the first time
After a slightly extended up-and-down effort to take hold of the $1,300 level, gold prices wasted little time moving past $1,400. The Monday (November 8) gold spot rate is $1,406.30 in lunchtime trade on the New York NYMEX.
Oil price gains halted as dollar gains
Gains in the dollar have put a brief halt in a three-day run of gains in oil prices. Benchmark crude oil scheduled for December delivery currently (October 27) trades at $81.73 in early New York NYMEX trade.
Oil and gas prices higher with equities
Surging equity markets have helped push oil prices through the $80 level. Benchmark crude oil scheduled for November delivery trades at $83.14 in early New York Mercantile Exchange trade Tuesday (October 19) morning.
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