LiveWire Economics Blog
LiveWire Economics Blog - January 6, 2009 15:00
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.
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 […]
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.
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.
THE SPOT PRICE of gold tumbled in Asia and London on Friday morning, sliding $42 from yesterday’s top â€“ and cutting this week’s gains by four-fifths to 1.5% â€“ as stock markets also sank despite fresh rate cuts from the world’s No.3 central bank.
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.