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ECB keeps key rate at one percent |
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The European Central Bank on Thursday kept its key rate at one percent.
The annual inflation rate was -0.1 percent in October, according to Eurostat's fresh estimate, and it was expected to rise above zero again in the coming months, said, Jean-Claude Trichet, president of the ECB.
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Medium to longer-term inflation expectations remain firmly anchored in line with the Governing Council's aim of keeping inflation rates below, but close to 2 percent over the medium term.
At the same time, the latest information continues to signal an improvement in economic activity in the second half of this year, Trichet said.
The Governing Council expects the euro area economy in 2010 to recover at a gradual pace, recognizing that the outlook remains subject to high uncertainty.
The Governing Council also left interest rates on the marginal lending facility and the deposit facility unchanged at 1.75 percent and 0.25 percent respectively.
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| Technical Calls |
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Gold can touch $1,225 per ounce by next week |
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What Eric is saying here also lies in the shortening of the steps in the stair step gold action. At new highs, such as now, this formation is a rare set up suggesting an exponential rise.
Rev. Doug, who is no slouch when it comes to gold, anticipat |
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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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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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