LiveWire Economics Blog
LiveWire Economics Blog - January 26, 2009 18:15
Gold rose for the eighth consecutive year against the dollar in 2008. Thanks to an unstable economy and a zero per cent interest-rate policy established by the Fed following several rate cuts during the year, more and more speculators turned to the safe money bet (gold) in exchange for dollars.
With retailers continuing to struggle through the holiday season and into the New Year, investors have recently begun placing their bets that technology stocks may help hold the market from more steep declines. Circuit Cityâ€™s announcement that it was closing its remaining 567 stores in the US and liquidating was good news for some of […]
The last days of the Bush Administration are not going quietly, even though President Bush is looking to incoming President Barack Obama to dictate some key moves. In particular, Bush sought direction for his successor on the next step in the process for stimulating the economy using the remaining $350 billion of government bailout money.
THE PRICE OF GOLD sank ahead of the US opening on Monday, dropping $20 in 20 minutes of London trade to bounce off $825 an ounce.
Tuesday (January 6) brought a barrage of important economic news. It was a mixed bag as Americans and investors watched for signs of a potential 2009 economic rebound. The reading of the Fed minutes that led to the Â¾ point rate cut in December was a big concern. It indicated that 2009 could see a […]
THE PRICE OF GOLD fell further in London on Tuesday morning, sliding 2.2% from Monday’s US close to hit $840 an ounce â€“ its lowest Dollar-level since Christmas Eve.
The Euro slid back below $1.40 in New Yearâ€™s Day trade as some analysts predict a dramatic slump for the European Union currency in 2009. Italy has announced that it may look to get out of its tie to the Euro as its currency of use if regulations continue that restrict the countryâ€™s control over […]
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.