Kiwi and Aussie Dollars on the rise while the US dollar drops

While China's central bank today backing off statements made on Friday in which it reiterated the need for a new global reserve currency away from the dollar , The US dollar and yen dropped versus most of their major counterparts as a report showed confidence in the European economy increased and U.S. stocks rose, encouraging investors to buy higher-yielding assets. The Swedish krona was the biggest winner against the dollar among the 16 most-traded currencies as investors bought Scandinavian debt. The Euro gained the most versus the yen in four weeks as improvement in European executive and consumer sentiment added to signs record low rates are helping pull the euro area out of a recession
The Australian and New Zealand dollars rose, heading for their best quarter against the greenback since at least 1985, as optimism the global slump is easing buoyed demand for higher-yielding assets.

The two currencies gained for a sixth day versus the U.S. dollar after regional stocks advanced.

Oil Price Rises After Nigerian Rebels Attack Shell Platform

Crude Oil rose above $70 a barrel attack by Nigerian militants closed a field operated by Royal Dutch Shell Plc, further cutting production from Africa’s largest producer.

The move followed a 2 percent gain on Thursday and put oil on course for a 4 percent gain this month, buoyed by prospects for an economic recovery that has lifted prices from below $40 over the past four months.

The release of the June consumer sentiment index by the Reuters/University of Michigan Surveys of Consumers at 1355 GMT was expected to reflect a mildly improving outlook for the U.S. economy, auguring well for ailing world energy demand.

By 1216 GMT, benchmark August U.S. crude oil CLc1 was up 3 cents per barrel at $70.26, having hit a high of $71.29, up $1.06. London Brent LCOc1 rose 2 cents to $69.80.

Why Gold and Silver are Precious Metals ?

What make Precious Metals precious:

precious metals are rare metals found in very small amounts in the planet earth hence the high economic value
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