U.S. gold futures and spot gold extended gains to hit an all-time high above $1,720 an ounce on Tuesday as stock markets plunged on growing fears of a recession in the United States after Standard and Poor's cut the country's credit rating last week.***
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Gold held steady below its record high on Thursday, supported by worries about the spreading euro zone debt crisis and slowing global growth, while holdings in the SPDR Gold Trust rose for a second consecutive session.
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Peter Turville-Ince, Head of Commodity & Equities Strategy at Compass Global Markets, belives that prices for the yellow metal will continue to climb as uncertainty remains.
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Italy's borrowing costs soared on Thursday as it sold nearly 8 billion euros of bonds, with jitters about its debt pile pushing its benchmark 10-year bond yield to the highest in 11 years.
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The yuan hit an all-time high versus the dollar for a sixth straight trading day on Wednesday, as the People's Bank of China took advantage of a weak dollar to engineer further appreciation in the Chinese currency.
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Gold rose to fresh record high on Monday as talks over lifting the U.S. debt ceiling appeared to be stalling just days before the Aug. 2 deadline, raising the prospect of a U.S. debt default.
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UK consumers are increasingly turning to short-term credit services from online providers. The entrepreneurs behind these businesses say that they represent the evolution of a lending market that has stopped listening to its customers.
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Gold touched a record high on Monday, reflecting persistent worries about the euro zone debt crisis spreading and a growing threat of a U.S. government default.
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Gold futures rose to a record settlement above $1,585 on Wednesday, as the possibility of more Federal Reserve stimulus coupled with Europe's deepening debt crisis fueled bullion's longest winning streak in five years.
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Spot gold on Wednesday hovered near a 1-1/2-week high hit in the previous session, supported by renewed worries about the euro zone's debt problem after Moody's slashed Portugal's credit rating to junk.
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Japanese fund managers' global bond weighting is near a record high while their stock weighting has sunk towards a 12-year low, showing worries over a slowdown in global economic growth and rising commodity prices made them reduce risky positions, a Reuters poll showed.*
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Gold edged down on Wednesday ahead of the outcome of a U.S. Federal Reserve meeting, which could squeeze the dollar but worries that the Greek debt crisis could affect other countries could spur buying from investors.**
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Gold settled a notch higher Monday as investors held to it as a safe bet against growing concerns over euro zone finances, while a relatively strong dollar capped gains in the precious metal.
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Gold ticked up on Tuesday, after rising to its strongest in more than a month in the previous session, as worries about a slowing U.S. economy prompted purchases from investors seeking an alternative investment.
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The U.S. dollar slid to a fresh one-month low against a basket of major currencies early in Asia on Monday, finding no support after disappointing jobs data bolstered expectations that U.S. interest rates will stay low for longer.
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The euro hit a one-month high against the dollar on Friday, with investors fretting whether forthcoming U.S. jobs data will give them more reason to brace for a protracted soft patch in the U.S. economy's recovery and a further dollar slide.
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The euro hit a three-week high against the dollar on Wednesday, supported by hopes for an agreement on Greece austerity steps and progress toward an aid package for Greece, bringing it near chart resistance that could limit its near-term gains.
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Germany is considering dropping its push for an early rescheduling of Greek bonds in order to facilitate a new package of aid loans for Greece, the Wall Street Journal reported, citing people familiar with the matter.
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The yuan traded at a record high against the dollar on Monday after the People's Bank of China set a new peak for the mid-point for the third straight session, suggesting another leg of appreciation is underway.
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The New Zealand dollar touched its highest level in 26 years against the U.S. dollar on Monday, helped by improving fundamentals and global U.S. dollar weakness.
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