Gold Heads for Second Monthly Drop as Dollar’s Gain Cuts Demand
Gold, little changed in London today and set for a second monthly drop, may decline as a stronger dollar curbs the metal’s appeal as an alternative investment.
The U.S. Dollar Index, a six-currency gauge of the strength of the greenback, was little changed near a five-month high. The dollar has strengthened on concern Greece’s fiscal problems will spread, damping demand for European assets. Gold, down 1.2 percent this month, typically moves inversely to the dollar.
Source Bloomberg - by Nicholas Larkin and Jae Hur
Oil Rises With Equities, Capping First Monthly Drop Since July
Crude oil rose, limiting its first monthly drop since July, as advancing equity markets reaffirmed confidence in the economic recovery.
The U.S. Senate yesterday unanimously passed sanctions on foreign companies that sell refined petroleum to Iran, holder of the world’s second-largest crude reserves. Oil has lost 6.7 percent this month on concern the U.S. government will limit trading by banks and that China will take further steps to cool its economy.
Source Bloomberg - by Grant Smith and Yee Kai Pin
Toyota U.S. Dealers May Lose $2.47 Billion a Month
U.S. dealers who sell Toyota Motor Corp.’s namesake brand could lose as much as $2.47 billion in combined monthly revenue because of the halt of sales of eight models, including the popular Camry and Corolla sedans.
Source Bloomberg - by Mike Ramsey and Doron Levin
Gold, little changed in London today and set for a second monthly drop, may decline as a stronger dollar curbs the metal’s appeal as an alternative investment.
The U.S. Dollar Index, a six-currency gauge of the strength of the greenback, was little changed near a five-month high. The dollar has strengthened on concern Greece’s fiscal problems will spread, damping demand for European assets. Gold, down 1.2 percent this month, typically moves inversely to the dollar.
Source Bloomberg - by Nicholas Larkin and Jae Hur
Oil Rises With Equities, Capping First Monthly Drop Since July
Crude oil rose, limiting its first monthly drop since July, as advancing equity markets reaffirmed confidence in the economic recovery.
The U.S. Senate yesterday unanimously passed sanctions on foreign companies that sell refined petroleum to Iran, holder of the world’s second-largest crude reserves. Oil has lost 6.7 percent this month on concern the U.S. government will limit trading by banks and that China will take further steps to cool its economy.
Source Bloomberg - by Grant Smith and Yee Kai Pin
Toyota U.S. Dealers May Lose $2.47 Billion a Month
U.S. dealers who sell Toyota Motor Corp.’s namesake brand could lose as much as $2.47 billion in combined monthly revenue because of the halt of sales of eight models, including the popular Camry and Corolla sedans.
Source Bloomberg - by Mike Ramsey and Doron Levin
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