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. After the results, the faith of governments in their financial institutions was restored to some extent, in relation to the ongoing debt situation in Europe.

Traders who are losing in equities markets are now dumping precious metals and other safe haven assets to recover their losses. However gold which has been declining over the past couple of weeks doesn’t seem to make a potential gain in the near future. Analysts predict that gold price will further drop to US$ 1,165 by the end of August. Meanwhile other precious metals such as silver and platinum have gained and are at $18.14 and $1544 respectively.

Gold is currently at $1,186.4 and it is expected that when market will open after 48 hrs, the price of gold will fall $3 and will reach around $1,183. Gold prices are falling due to the last week’s affect on consumer price index (CPI) which declined about 0.1% to restrain inflation fears and the situation will not improve unless the worsening fiscal situation in Europe and the economic recovery in US is firmly dealt with.

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.

When we approached the spokesman of BP Scott Dean, he clearly denied the report adding that the report is “a myth” adding that “Tony Hayward is in charge of BP”.

The oil spill has now stopped after a temporary capping on oil pipe but a permanent solution is yet to be seen. The Gulf of Mexico is a very big ocean and the efforts to clean the oil spill are not enough. It is considered the America’s worst environmental crisis, where more than 100 million gallons have gushed into the Gulf.

[Source: MSNBC]

The trading was bearish on Monday amid worries over US economy and job market. It is believed that the world’s largest economy is suffering whereas other figures indicate that China’s economy could also be effected and slowed down.

The NYSE Dow Jones is currently at 9686 points. The British Stock Market FTSE 100 was recorded flat at 4,836.28 whereas Germany’s DAX was recorded at 5,834.21 and France’s CAC-40 was recorded at 3,340.00. Shanghai index was down by the afternoon at 2363 points whereas Nikkie was at 9266 points.

On the other hand, the forex market also witnessed some fluctuation as dollar rose and euro declined. The world forex market will soon go down due to corrections but this process could take a week. The analysts believe that the giant economy is responsible for the recent economic downturns.

US has recently witnessed 13,000 layoffs in one day. Citigroup and BP have expected job cuts in the coming week. It has also been analyzed that over a period of 6 months, Britain will face over 600,000 job cuts, our source at Institute of Leadership and Management revealed. US stock markets have been hit hard by poor job market and a further decline in the sect0r. Recently Lloyds have laid off 650 employees and another 400 employees are expected to be laid off in the coming week. BAE factory closure also cost 260 jobs which has but skilled labours questioning their expertise.

June 2010 has seen only 10,000 graduate jobs in private sector which is not economic friendly. The jobs should be provided to individuals without job market laying off employees on the other hand. The jobs are available to companies with outsourcing license because many companies are laying off employees would rely on outsource. The unemployment is not expected to recover soon but it can be expected from government to take necessary measures to create employment and help the stock markets to recover which is also hit hard by the current economic situations.

View the full LYG chart at Wikinvest

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After the statement of President Obama, “We Will Make BP Pay” the grounds for BP is under heat since BP had to pay $20 billion funds quarterly to help clean sweep the oil spill. The shares market for BP has narrowed down and already witnessed a 18% loss which is likely to fall more in the near future as been predicted by analysts. Since the oil spill, BP has faced serious backlash from big oil rivals. The BP is now on hot seat as it has to face some serious criticism and future bailout plan if the BP shares crash. “The ball will never be in BP’s court” stated Kim Rogers, Financial Analyst of Financiere. The disaster was purely BP’s mistake since the CEO Tony Hayward apologized for the oil spill. The shareholders of BP should keep this in mind that they won’t be able to recover their losses in the near future and the best time to sell the shares is now when BP is somehow managing to show a 0.19% profits. After the fund allocation, the stock market may get affected by 3% in general but BP will face huge losses.

The Insurance sector, especially health insurance is now struggling with price resistance from employers. The health insurers’ expansion and profitability is negative and does not look to go upward in near future. The health care costs have increased faster than the annual premiums which will help avoiding legal operating gains. The forecast for health insurance have increased the ambiguity as health insurance firms try to recover from financial depression.

There are four health care segments – Hospital care, Pharmaceutical market, Medical device market and health insurance market. The recruitment in health insurance market is taking a nosedive whereas hospital care and pharmaceutical markets are prospering as known by their stock market reports and forecasts. The consumers and business owners of medical device markets are uncertain about future and the agents involved in medical health insurance and medical device selling are facing problems as their incomes have plunged rapidly. The market conditions are best known by the firm’s progress and its employees’ prosperity. It is not a good time to invest in insurance companies or to enter the insurance job market as leading insurance companies are facing terrible times. The UK Stock Market Forecast and US Stock Market Forecast has revealed that insurance sector have very minimal gains (if any) and most of the times the insurance sector files bankruptcy which causes the economy to tremble.

It is advisable not to invest in insurance companies and try to minimize your personal insurance unless it is health insurance which is now considered a need. The auto insurance is also not necessary, many people would not digest it but the equation is simple; the car you bought with insurance will cost you double within five year’s insurance payments, if you don’t buy car insurance, the cost of car will be free after five years. Same goes for those who buy medical insurance because almost all medical insurance are term insurance and there are no hefty returns on investments. A better investment option is Gold Investments which have a value and can be cashed at the time of need. At the end of the day, if you won’t need gold for your health recovery, you’ll be armed with gold investments.

That health insurance which is for granted i.e. offered by your employer is better and more convenient because the demerits of health insurance are awful.

It is very common to have a bad credit history these days as policies mentioned by the credit companies have been tightened after the recession of 2008. Applying for immediate personal loans with a bad credit history can be a daunting job but with simple guidelines on How To Improve Your Credit Score, you will be able to convert your bad credit into excellent credit and simply apply for personal loans. This might sound weird that if you apply for a personal loan with a bad credit score and you manage to get a loan than you’ll have to pay more interest than usual. This is because of your bad credit history. To Apply for immediate personal loans, you should research your options first which is very necessary and then compare loans with other financial institutions’ offers.

After your research you should check out whether the short listed financial institutions use risk based pricing for bad credit loan or they simply offer flat rate to all their clients. The risk based pricing would affect you if you select longer repayment terms. The longer your term is the more you pay interest to the bank or financial institution. After you are done with making up your mind you should compare the prices of larger loans with smaller ones. The reason behind is that the larger the loan is the lesser yield company would imply and the smaller the amount is the more interest you pay because of your bad credit history.

One thing you should quit while applying for a loan and that is payment protection insurance. This would not degrade your credit score but will save you more so you can repay faster and lesser. And the next time you apply for immediate personal loans you wouldn’t be asked for payment protection insurance because your record will say for itself when the payment is made on time and with no delays. It is important that before applying for immediate personal loans you should learn about debt consolidation loans

The job market news is not positive and that is the main reason why news media is not highlighting the recent 90,000 layoffs in US alone. This is a 44% increase from the first quarter of the year 2010 but the news is not welcomed by many as more job cuts are expected in the third and fourth quarter. A rise is seen when some private companies added 20,000 jobs but that is not enough for the downward job market trend.

It is analyzed that unemployment rate is 6% and job market being very strong but the question is for how long will the unemployment be faced by the people as the economy is moving downwards. Finance sector is the major sector which faced job cuts this year. In UK alone 8,000 job cuts has been witnessed and in US the job cut totals 19,000 in financial sector only. Financial sector is known to be the most critical sector of economy and any dramatic change in this sector indicates clear signs of danger. The biggest problem is that the governments are not taking this matter seriously and the news media is controlled by the government which helps in playing the same goal “not to create unemployment hype”. US job market is huge and those laid off can be switching jobs around other states but UK job market is different and the joblessness in UK is severe. The foreign students studying in Britain are jobless because the economy is a vacuum tube. learn more about UK Job Market

Dow have suddenly fallen below 10,000 points and is currently at -9880. Many analysts had forecast that the market would rise after a short fall but due to Euro downfall and North-South Korean crises as reported by the news media, the U.S. Stock Market is in doldrums. The investors have dumped the stocks as tensions gripped the world market. Nearly all investors are concerned about the fall of Euro which has fallen steeply, click to read about Euro News, Analysis and Forecast.

Nasdaq and S&P are sharing the agony as they have also witnessed downfall with the fall of Dow. NASDAQ being a technology market should had an upward trend but as the crises are serious, even the technology market is not safe for investments. The gold market has also fallen but investors are pretty sure that this would not be the recession of US stock market again. The downfall is still known to be for a short period and may not last long as analysts observed. The Oil prices have also witnessed a change of 3% in negativity. The U.S. stock market would witness a downfall of nearly 4% in 3 days period and would not recover soon as expected by the investors. Since Gold Investments are considered to be safer, the falling price of gold doesn’t attract investors because the economy is stable and outlook is positive.

Gold and oil prices have sharply declined in the past 5 days due to issues unclear to investors. It is mainly due to US stock market downfall and euro zone crises which have made the precious metal and gasoline prices to fall.

Gold has witnessed +4.86% change which was a good sign. Now onwards, gold prices shall decline for the next 10 days or so.

Oil has witnessed -13.31% change which still continues to decline till the month of June.

The Gold and Oil markets have been hit by US Stock market as major shares are on the doldrums. It is expected that the market will be recovered soon.