Gold still remains under $1200 at the end of the week after the results of stress tests of 91 Banks in Europe, where only 7 banks failed to prove they would survive financial crisis.

The euro rose against dollar amid U.S. economic concerns, according to Bloomberg. The flattering U.S. currency demand was damped after the fed
raised concerns over the issues related to economic recovery.

According to Guardian UK, figures published from the Association of British Insurers today, reveal a staggering 122,000 bogus insurance claims that have been uncovered last year, which are valued at £840m.

According to a report on Reuters, Vodafone is currently the world’s largest mobile network in terms of sales volume. The telecoms giant was badly affected by the economic downturn in the past but now the prospects for the company are looking brighter as it returns back to growth for the first time, since the economic downturn.

The latest story making headlines this morning is the emergence of the stress results carried out on the European banks. The results of these tests are yet to be disclosed as the gloabal financial markets are impatient to see the final results.

Apple iPad was launched in market just 3 months back and the new Apple iPhone 4 for just 26 days but due to extensive demand, the supply of Apple went short. The iPad was to be launched in 9 new countries but Apple have put a hold on to it as demands in larger economies are still not met.

BP’s embattled CEO Tony Hayward will resign from his position in the month of August. Sources close to BP said that Tony Hayward who is 53 years old will make the announcement in the month of August. The reason given to Financiere about the resignation is that the company is trying to regain its reputation which was badly effected after the Gulf of Mexico Oil Spill.

Apple have seriously shown market capitalization in a short span of time. Apple have shown Q2’s earnings which is lesser than Microsoft’s but Apple claim it will surpass Microsoft in third quarter by $1.5 Billion. Despite Apple iPhone 4 antenna problem, the market capitalization of Apple

Gold has witnessed some serious decline this month amid tight economic conditions in States. Gold is currently at $1,176.31 which dropped from $2,157.09, a sharp and unexpected fall. The economic situation has made it easy for investors to invest and make enormous profits from Foreign Exchange market and Stock Market.

Pound sterling hit to a seven-week low against Euro and it is expected that the trend will continue till the week-end. The Euro has been sharply rising since last Friday against major currencies and it has been predicted by our financial analysts that Euro will keep on rising till the month of September