Gold Ends 2008 Higher for US

December 31, 2008 | Comments Off

THE PRICE OF GOLD BULLION slipped into the New Year’s shutdown on Wednesday, ending 2008 a little shy of 3% above the close of 2007 for US investors at $865 an ounce. Read more

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New Year’s resolutions for US economy

December 31, 2008 | Comments Off

As the calendar ticks toward the end of another year, many economists and financial analysts are already debating what is to come for the US economy in 2009. Some predict more despair and a deepening recession. Other more optimistic prophesiers have suggested housing, credit and other sour sectors could rebound in the latter part of the coming year. As 2007 concluded, it was noted that 2008 would be one of the most impacting in US economic history, and it was. The encore in 2009 could be as awesome, or even greater. Read more

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Home sales disappoint in November

December 24, 2008 | Comments Off

Home sales disappointed in November, according to fresh reports on new and existing sales Tuesday (December 23). The disappointing news on the home front caused some analysts to speculate that the fourth quarter gross domestic product could be far worse than the .5 per cent drop reported by the government Tuesday. Read more

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Gold Holds Tight

December 23, 2008 | Comments Off

THE SPOT PRICE of gold held in a tight $5 range early in London on Tuesday, recording an AM Fix of $844 an ounce as European stock markets bounced from yesterday’s sharp losses and crude oil ticked back below $39 per barrel. Read more

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Global Deflation Panic Sparks Return of ZIRP

December 19, 2008 | Comments Off

THE SPOT PRICE of gold tumbled in Asia and London on Friday morning, sliding $42 from yesterday’s top – and cutting this week’s gains by four-fifths to 1.5% – as stock markets also sank despite fresh rate cuts from the world’s No.3 central bank. Read more

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Dollar falters against euro, yen

December 19, 2008 | Comments Off

The dollar is back on the defensive against the euro after pushing the European Economic Union currency back nearly 40 pips from its record high from mid-2008. After touching $1.61, the euro, along with the British Pound, have dropped massively against the buck over the last few months. Read more

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Fed surprises with .75 point interest rate cut

December 17, 2008 | Comments Off

The Fed shocked Wall Street Tuesday (December 16) afternoon when it announced a .75 point cut in the Fed funds rate bringing the rate the government charges lenders to a record low of .25 per cent. The discount rate was cut to .5 per cent. This means that it should be cheaper than ever for consumers and businesses to borrow money for spending, though analysts expect a bounce higher in mortgage rates. Read more

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Gold Holds Near Two-Month High

December 15, 2008 | Comments Off

THE SPOT PRICE OF GOLD BULLION came within $1 of a new two-month high early Monday in London, holding onto last week’s 9% jump and recording its best Morning Gold Fix since Oct. 16th for US investors. Read more

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