Economics / Markets

The price of gold has plummeted to a six-month low as the global rally in equities triggered by upbeat economic data threatens the precious metal's safe-haven appeal.

London opened marginally weaker on Wednesday, continuing the softer trend seen towards the end of Tuesday's session, with retailers in focus in the early going.

China and the US will lead the biggest-ever economic boom as global output triples again by 2050, a HSBC report predicts.

Politicians have been lining up to tell us how financially "difficult" 2011 will be, but nothing puts UK debt into perspective like the relentless building blocks of Tetris.

The UK's GDP growth will be slow in the first half of 2011 but will start to pick up in the latter part of the year, according to economics research firm IHS Global Insight.

London's leading share index rose almost 150 points, or 2.48%, to reach 6,045 by late morning, buoyed by the commodities sector.

An MPC member has predicted interest rates could hit 5% and urged IFAs to help homeowners prepare for the increases.

Blue chips have had a first stab at hitting the magic 6,000 level following gains in the US overnight and are regrouping after falling just one point short.

London's top share index ticked towards 6,000 late on Wednesday as tech giant ARM Holdings added 11% on rumours of a deal with Microsoft.

Sterling touched a three-month low against the dollar before rebounding as the Monetary Policy Committee (MPC) revealed continued division on interest rates while UK growth was revised down.