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| Wed, 01 Jul 2009 13:25:54 +0000 What to do with gold |
| Just as the stock market has been stuck in the mid-8,000 range over the past few weeks, the gold spot rate has been hanging around the $930 per ounce price point for a while. Despite a couple modest swings, gold has traded in a very narrow range between $920 and $940 since it dropped significantly from around $955 on June 11th to below $930 on June 15th. Virtually all speculative markets traded flat during the last half of the month of June. Speculation in anything is generally driven by a sense ... |
| Mon, 29 Jun 2009 16:37:09 +0000 Gold Still “Tracking the Dollar” as Money Supply Slows Outside China |
| THE SPOT PRICE of gold bullion rose 0.7% from an early dip to $936 an ounce in London on Monday, lagging a 1.0% rally in European equity markets. Crude oil recovered to just below $70 per barrel, despite a cut in global oil-demand forecasts at the International Energy Agency. Copper rose as Shanghai reported a sharp drop in stockpiles, but long-dated government debt prices also rose, pushing the yield offered by 10-year US Treasuries down to a five-week low of 3.47%. “The main driver of gold at the moment is moves in the ... |
| Fri, 19 Jun 2009 16:12:45 +0000 US dollar struggles to gain ground on yen |
| As part of its overall weakness, the US dollar is having a difficult time piercing the 100 yen level. After topping the century mark in early April, and then again in early may, the greenback has steadily fallen back from the level. In mid-May, one dollar was worth 94 yen. After a modest bounce, in the last couple days, the value of a dollar is currently (Jun 19) at 96.57 yen. After starting the year at a low point of 88 yen, the dollar-yen ratio has traded mostly ... |
| Wed, 17 Jun 2009 11:12:28 +0000 Euro fails above $1.40 |
| After a roughly two week stint flirting mostly above the $1.40 level, the Euro has fallen back to a current rate at $1.3834 (June 16). The Euro has steadily dropped from a peak over $1.43 on June 2nd. It has operated on a downward progression from the $1.40 level for the last three days. The Euro broke below an important medium-term support level near $1.3891 yesterday. A look at a 3-month trend chart suggests that without a quick return above this level, the Euro could be headed toward ... |
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