Gold holds near highest in six weeks behind Diwali demand

​​Gold traded near a six week high with demand picking up in India, the second largest user after China, due to its Diwali festival and the upcoming wedding season. ​Spot gold increased by as much as 0.3% to a price per ounce of $1,251.90 and was trading mid morning Singapore time at $1,247.56, based on generic pricing from Bloomberg.

Euro lower on report of ECB bond buying programme

The Euro headed lower against the dollar today, taking most of the other majors with it following a Reuters report that suggested the ECB is ready to begin buying corporate bonds as soon as December. Stock soared on the news as risk sentiment improved, although the Yen failed to notice and still sees decent demand against the dollar and the crosses

Diwali and Gold buying should not be co-related: Angel

​​Diwali and gold buying – should not be co-related, a report by Angel broking said. Buying gold right now also violates another cardinal rule of investing. "You shouldn't chase returns nor chase the asset because it has drastically corrected. You should not follow the herd. You should not buy an asset or an asset

Economic Indicator News »

China Trade Balance came in at $31 B

The General Administration of Customs of China reported that Trade Balance...

Actual

$31 B

Forecast

$41 B

Previous

$49.83 B

Economic Indicator News »

NZ House Price Index lower in September

The REINZ reported that House Price Index in New Zealand came weaker during...

Actual

0.2%

Forecast

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Previous

1.1%

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Fundamental

Euro lower on report of ECB bond buying programme

The Euro headed lower against the dollar today, taking most of the other majors with it following a Reuters report that suggested the ECB is ready to begin buying corporate bonds as soon as December...


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Technical

Euro turned lower once more after Mario Draghi

​​Having squeezed a little higher to reach 1.2715 on Friday, the Euro turned lower once more, finishing the week near its session lows of 1.2609 after Mario Draghi reiterated that the EZ economic...