Global Deflation Panic Sparks Return of ZIRP - December 19, 2008 14:47

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.

Dollar falters against euro, yen - December 19, 2008 11:22

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.

Fed surprises with .75 point interest rate cut - December 17, 2008 10:12

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 […]

Gold Holds Near Two-Month High - December 15, 2008 19:55

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.

Unemployment soars, auto bailout crashes - December 12, 2008 21:58

Prior to the open on Wall Street Thursday morning (December 11) the weekly jobless claims report was announced. A disappointing 573,000 jobless claims were reported in the previous week. This is the highest number of claims reported in 26 years. It is also much worse than the 525,000 claims that analysts expected. Jobless claims continue […]

Back in the day… $1 gas - December 10, 2008 14:19

News came late Tuesday (December 9) evening that democratic congressional leaders and the Bush Administration had agreed in principle on a $15 bailout plan to help the failing auto industry. The amount of the deal is less than that requested by the Big 3 CEOs last week, but it the proposal reportedly would give the […]

Gold Jumps as Obama Shouts “Clear!” of the Dollar - December 8, 2008 15:02

THE PRICE OF GOLD eased back from a sharp 2.8% gain for Dollar investors early in London on Monday, trading flat against Sterling and Euros after US president-elect Obama promised to “jump start” the economy with huge government spending and debt.

The next gold rush? - December 5, 2008 10:29

More negative economic data flooded Wall Street Thursday (December 4). News of more job cuts at companies like AT&T and several commentaries noting a deep recession for 2009 contributed to the sour mood. In the last several months, it’s as if many financial sectors have been flipped on their tops. Oil has gone from all-time […]

Auto industry takes center stage - December 3, 2008 23:52

Most of the big news events of Tuesday (December 2) had an auto industry focus. November auto sales reached their worst level since 1982. Chrysler led the way with a 47 per cent fall and Nissan fell 42 from November 2007 to November 2008. All told, the industry saw a 37 per cent plunge in […]