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Aussie closes higher vs dollar |
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The Australian dollar got a lift Friday as the country’s central bank painted a luminous outlook for the economy, suggesting interest rates and the currency were set to rise a lot further over time.
At close, the Australian dollar was buying 91.34-37 cents. It was also worth 55 pence, 61.4 euro cents and 82.7 yen.
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Pointing to buoyant trade, investment and population growth, the Reserve Bank of Australia (RBA) sharply upgraded its forecasts for economic growth.
Aussie also hit a three-month high against the New Zealand dollar on Friday.It rose to as far as NZ$1.2662 after breaking a key level of NZ$1.2600.
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| Technical Calls |
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Gold price will double $1,150: Jim Rogers |
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The most bullish investor on gold these days seems to be the global commodities investor Jim Rogers. Rogers, based in Singapore, and a big investor in the Chinese commodities market says, gold price should double the current $1,150 per ounce level. |
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Gold price to average $1,140: Barclays Capital |
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Barclays Capital says gold prices will average $1,140 per ounce in 2010, says Barclays Capital. "We expect prices to maintain their upward momentum through to at least the first half of 2010, where we expect prices to average $1,140 in the second qu |
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Silver in great demand as gold price soars |
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Thus the bull market may have put gold out of reach for many consumers. And that may account for some of the renewed interest in "the poor man's gold" – silver. Since Monday this week, silver has made its first significant break-out move – relative t |
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Crude oil futures continued to trade down in mid London trade Friday as the US dollar strengthened against the major currencies apart from a dip in the global equities. |
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Gold futures fell in negative zone as dollar gathered some strength in mid London trades. Dollar typically strengthens when there are less data releases from US. |
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MCX Comdex was up by 2.35% to 2694.17. MCX Energy was down by 0.22% to 2651.55, MCX Metal was up by 3.70% to 3226.02 and MCX Agri was up by 4.84% to 2255.10. |
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