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Dollar gains on US jobless data |
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Dollar gained against the euro as the US jobless figures dropped larger-than-expected, which raised concerns about the currency.
Another 467,000 people joined the queue for work last month, far more than the 365,000 predicted. The unemployment rate rose for the ninth month in a row to 9.5%, pretty much matching expectations.
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Concerns about the economy pushed investors to the safety of the dollar.
The euro was down against the dollar after the ECB kept interest rates on hold. Afterwards ECB president Jean-Claude Trichet’s comments suggested interest rates will remain at a record low for the coming months.
Meanwhile, unemployment in the eurozone rose to a 10-year high of 9.5% in May from 9.3% in the previous month as another 273,000 people lost their jobs in the period.
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| Technical Calls |
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Russia may buy remaining 203 tonnes of IMF gold |
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Which country will not buy the remaining gold reserve from International Monetary Fund (IMF), following India's purchase of 200 tonnes of gold last week? Bullion analysts say China is set buy the remaining 203 tonnes of IMF gold. But China is not alo |
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Gold price peaks to Rs16,900 in India bullion market |
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Gold prices in India continue to peak. On Satruday, gold prices spiked to a new high of Rs 16,900 per 10 gram in the bullion market. Gold dealers said strong marriage season demand amid firmimg global trends are driving gold prices in India. |
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Sri Lanka shoring up gold reserves |
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The Gold Price in Euros peaked on Feb. 20th above €782 an ounce. "We have been fairly strong accumulators of Gold reserves over the past few months," said Sri Lankan central bank chief Ajith Nivard Cabraal to Reuters today in an interview from Chenna |
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Cardamom futures rose at the MCX counter Friday as the demand for the commodity in the spot market is seen firm against the lower than expected stockpiles. |
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MCX Comdex was up by 0.67% to 2687.20. MCX Energy was down by 0.98% to 2765.22, MCX Metal was up by 1.45% to 3130.30 and MCX Agri was up by 2.78% to 2182.39. |
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Domestic crude oil futures are trading with mild losses Friday as the impacts of the late sell of continued to linger on the market. |
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