Roundup: Dow +0.39% to 13304. S&P +0.53%. Gold -1.07% to $1649.85. London -0.05%. Germany +0.05%. France +0.50%. S&P 500 stock futures -1.6%
The market action was before Speaker John Boehner faced an embarrassing setback when he failed to unite his Republican lawmakers. It is now up to Obama to first pass a bill through the Democratic-controlled Senate. (Yahoo)
Has gold price reached its choke level? FT speculates that gold was largely connected to nominal yields and since yields have come up against the zero bound and can’t go any lower, there’s not much potential for the gold price to rise higher. Price action in INR:
Gold ETF (GLD) in USD:
Is this another scam in the making? NMDC suffered Rs 745.94 crore revenue loss during 2007-10 for not revising the domestic prices of iron ore in line with prevailing market rates. (ET) [stockquote]NMDC[/stockquote]
Have a nice weekend!