You've Got [Golden] Mail

By Jon Nadler
15 October 2008 @ 10:50 am EDT

The rebound in global markets ran into some snags overnight, as pessimism about corporate earnings and waning expectations that the world economy might escape a contraction pounded stocks in Asia. Those declines were followed by ones in Europe, and were based on similar apprehensions. Bloomberg's Professional Global Confidence measurement recently reached its lowest level on record. The US dollar dropped to 81.27 on the index and offered enough room for gold prices to climb back to near $845. Further advances were hampered by falling crude oil values (now near 75.75 per barrel!) and by further declines in white metals.

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