What We've Got Here Is Failure to...Instill Confidence

By Jon Nadler
19 August 2008 @ 05:45 pm EDT

Tuesday's New York session finished with a 1.5% gain in gold prices following a mid-morning turnaround precipitated by a surge in oil prices and a decline in the dollar. An amalgam of market-moving news dented the greenback's hitherto runaway gains and sparked some fresh buys in energy and precious metals. The news that engendered the favorable buying conditions ranges from the possibility that Lehman might have to toss another $4 billion in credit losses out the window, and that US housing starts were scraping bottom at a 17-year low. Also aiding the slide in the dollar were June wholesale prices which rose faster than consensus expectations. The Dow lost 132 points as shares of AIG, Lehman, Target, and Home Depot dropped amid credit woes and slowing consumer spending.

IBTimes Commodity Commentaries

E-Newsletters

We value your privacy. Your email address will not be shared.

Home
World
US
Economy
Companies
Tech
Science
Global Markets
Education
Real Estate
Forex
Commodities
Gold & Silver Matters
More Sections
Fashion
Auto
Travel
Health
Law
Entertainment
Sports
Luxury
Art
Books
Tech & Trend
Tools & Features
Topics
Blogs
Market Data
Stock Watch List
Investment Calculator
Financial Glossary
Broker Center
World Business Headlines
Updates
RSS Feeds
IBTimes on Twitter
IBTimes on Facebook
E-Newsletters
Services
Forex Newsfeed
Research
Press Release
About IBTimes
News Licensing
Media Kit
Advertise with Us
About IBTimes
Contact Us
Terms of Service
Privacy Policy