LiveWire Economics Blog
LiveWire Economics Blog - February 5, 2009 12:45
Gold currently (February 4) sits at just over $903 per ounce. The valuable resource itâ€™s steadily rising higher and looks primed for another move over $1,000 sometime in the near future. Gold went over this mark briefly in the middle of 2008 before falling back a couple hundred dollars in the last several months.
Investors were impressed with the report on pending home sales for December from the National Association of Realtors (NAR). Stock prices rose about one per cent after the inspiring news. Investors and Americans have watched housing closely for a bottom, thinking this sector offers a potential clue of broader economic prospects.
More bad news came for the real estate market on Tuesday (January 27) as President Obama visited with leaders in the GOP to discuss details of his new economic stimulus plan. According to the national Case-Shiller home index that monitors home price movement in 20 of the largest US metropolitan markets, the annual price drop […]
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 […]