connections will be running on 5 g. by 2025. and because resurgence is big thing up steam the price of the project currency has soared to its highest level since january last year in asian trading on wednesday because it jumped 10 percent to a price of just under $13000.00 it s now risen for 8 trading sessions in a row. let s go over to. our financial correspondent in frankfurt what s driving cryptocurrency is to go through the roof again. well ben it s a lot to do with facebook s plans of coming up with its own crypto currency libera now traders believe that facebook s entry will lead to tomorrow s crypto currencies and would also help bring them mainstream so that s one of the reason and then there s another argument it s about the safe haven argument believe it or not many investors do see going as a safe haven asset because it s not related with any other asset and it is not
endangering the lives of civilians who could be caught in the crossphile. jurlists, three being held after five days at the tripoli hotel. cnn s chaunce was one of them. steve jobs will step down. jobs is on his third medical leave of absence. he didn t mention his health problems directly but he said the time has come to resign. portions of the u.s. east coast are likely to be under a hurricane watch in just a few hours. hurricane irene is tearing through the bahamas right now with sustained winds at 160 miles an hour. it could hit the populated, northeast this weekend. those are the top stories. i m zain veer gee. world business today starts now. an ipod, a phone. are you getting it? the innovator steve jobs steps down as ceo of apple. we ll look at the company s future under new leadership. hello. i m andrew stevens in hng kong. and i m nina dos santos in london. you re watching world business today. captions by vitac www.vitac.com let s start with the ma
session after we saw the rally on bernanke s comments and what we did see was anything hard asset, the dollar fell on the comments of bernanke, and oil and gold shot higher and oil closed up nearly to $98 a barrel and gold was certainly used by investors as the safe haven asset today and gold finishing at a record high today, guys, so, again, everybody locking for someplace to put their money other than the u.s. dollar, and it was stocks, oil, and gold. and another thing aside from bernanke mentioning a possibility of another round of stimulus, he talked about holding benchmark interest rate near zero for what he says is an extended period of time. so it was all about the possibility of qe3 that rallied stocks but a debt downgrade for greece that weighed on storages later in the session, but, again, snapping a three-days thering streak and actually posting gains in the stock
as you can see, this is a mixed picture. the dow currently up by 0.3%. similar situation for the s&p 500 but the tech heavy nasdaq composite, that one teeter on the flat line when we look at the futures. pauline? nina, we ve been seeing it day after day for the past couple of weeks. believe it or not, oil and gold have hit new highs and silver s at a record as well. the price of crude has surged above $111 a barrel in electronic trade to a fresh 31-month high. it s been gaining since earlier this year. as investors react to the unrest in north africa and supply concerns in the middle east, meanwhile, gold is at a new all-time high for the third straight day. as investors increasingly turn to gold as a safe haven asset. gold is now trading up nearly $9 at more than $1,465.