September 2014

Gold Prices Fluctuate, Hitting Their Lowest In 2014

Gold prices have fluctuated recently, hitting their lowest so far this year and then rebounding slightly. 

The precious metal has repeatedly depreciated as the U.S. dollar gained, and the greenback recently reached a four-year high against a basket of other currencies, Bloomberg reported. Gold and this reserve currency frequently experience an inverse relationship. Many commodities contracts are dollar-denominated. As a result, when the greenback rises in value, investors using foreign currencies must pay more for these raw materials. Conversely, if the U.S. dollar declines, market participants using other currencies can buy more. Read more

EUR/USD Hits 14 Month Low…

The EUR/USD dropped to its lowest in 14 months on Sept. 24, 2014.

EUR/USD moves lower
The currency pair fell to 1.2774, its lowest since July 2013, before recovering somewhat to reach 1.2780 at 5 p.m. New York time, according to Bloomberg.

One piece of economic news that coincided with this decline was a report on German business confidence, which showed this sentiment dropped in September. During the month, the Ifo Business Climate Index for industry and trade reached 104.7, its lowest since April 2013, down from 106.3 in August. September was the fifth consecutive month where this index moved lower in value. Read more

US Stock Indices Reach New Record Highs…

U.S. stocks broke into new territory on Sept. 18, as both the Dow Jones Industrial Average and the S&P 500 Index attained all-time highs.

Stock indices climb
The Dow closed up 0.5 percent at 2,011.39 at 4 p.m. in New York, while the Dow finished the session 0.6 higher at 17,265.99, according to Bloomberg. While these benchmark indices reached new peaks, the Russell 2000 Index and Nasdaq Composite Index also appreciated, gaining at least 0.5 percent. Read more