Gold Continues to be an Asset Class of Choice
September 29, 2008 | Comments Off
What’s happening now is panic, says Joseph McAlinden, who thinks that the financial system will survive it and that a year from now the Dow will be dramatically higher. Chairman and CEO of Catalpa Capital LLC, and former managing director and global chief investment officer for Morgan Stanley Investment Management, McAlinden tells The Gold Report that he believes gold continues to be an asset class of choice, despite the decline during the late summer sell-off. Read more
New home sales, factory orders fall as bailout talks stall
September 26, 2008 | Comments Off
A combination of three negative news events helped intensify the focus on the floor of Congress to reach agreement on the $700 credit bailout plan. Stocks rose sharply during Thursday (September 25) as investors are banking on a bailout plan being finalized sooner rather than later. Partisan conflict over the final features of a plan is the hang up as both parties seem convicted that a bailout of some sort is necessary to prevent long-term recession. Read more
Feeling the heat of bailout turmoil
September 24, 2008 | Comments Off
It would be hard to argue that Americans have never seen a more tumultuous investment and economic timeframe than what has been witnessed in the last week and a half. Many financial and investment markets have set new records for movement and volatility and fear and anxiety over the state of the economy and credit system have consumed Americans for several days. Read more
The credit and finance roller coaster continues
September 19, 2008 | Comments Off
Thursday (September 18) contributed to one of the most incredible, dramatic weeks of equities’ investment that Wall Street has ever seen. Thursday was the third day in the trading week that saw a 400+ point move in the Dow. The good news for investors was that the 410 point gain helped erase a sizable portion of the nearly 1,000 points the Dow gave away on Monday (504 point) loss and Wednesday. Read more
Drama on Wall Street
September 17, 2008 | Comments Off
The start of the economic week brought drama to the credit and finance markets. News circulated Sunday that large creditor Lehman was on the verge of bankruptcy. Other disconcerting news in the troubled credit sector sent Wall Street investors into a panic. After spending much of the day in a deep hole, the Dow plunged from around 330 points down to a close of 504 points down in the last half-hour of Monday’s trade. Read more
Gold Rises as Stock Markets Tumble
September 16, 2008 | Comments Off
SPOT GOLD PRICES recovered an early 2.1% tumble on Tuesday, rising above $780 an ounce as Japan’s Nikkei stock index closed almost 5% lower after Tokyo traders got back to work following a public holiday on Monday. Read more
Gold Spikes as Wall Street’s “Fire Break” Fails to Hold
September 15, 2008 | Comments Off
SPOT GOLD PRICES jumped 2.6% at the Asian opening on Monday but drifted back to $770 an ounce as world stock markets sank and money fled into government bonds following the overnight demise of two Wall Street giants. Read more
Dollar remains strong
September 12, 2008 | Comments Off
The dollar continues to post impressive gains against its European counterparts, most notably the 15-nation Euro, and the British Pound. One Euro is currently (September 11) worth $1.3994, after dipping below $1.40 for the first time in several months Wednesday. The Pound has actually recovered a bit in 24 hours against the greenback, but is still about 30 pips off its all-time high less than one year ago. A Pound now fetches $1.7565. Read more
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- Auto industry takes center stage
- Gold Slides from 8-Week High on Fresh Dollar Surge
- The Financial Fire Trucks Are Gathering
- Analysts worry dollar in trouble
- Consumer prices, new home construction have record drops
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- Oil below $60, gasoline follows suit