The Fed is thought to have about as much control of the current situation as a trucker does whose brakes have failed halfway down a steep canyon he doesnt have control, he has influence.
By Jon NadlerSilver lost another $1.48 or 8.5%, falling to $16.94 per ounce. Platinum dropped $39 to $1865.00 per ounce and palladium lost $18 to $438.00 as the entire complex was battered by the freefall in gold
Wall Street says recession, but economic data has yet to confirm the gloom
The dollar rose against the euro on Thursday as investors pulled their money from commodities and put them into dollar-based investments.
By Jim Sinclair The reason for recent drop in gold, among other reasons given by media, was the Federal Reserve s mentioning of inflationary warnings.
Commodity Online LONDON: Against the run of play, gold suffered its worst defeat in recent times as it tumbled to nearly six percent low on Wednesday.
By Adrian AshBarely a generation after the worst recession in US history, backing labor over capital like this and thereby nabbing labor's far weightier vote meant JFK got to kick Richard Nixon around at the ballot box
Commodity Online MUMBAI: After a rally in gold that led to the international prices zooming to $1030 an ounce, will gold price reverse direction based on Wednesday's price level of $940 ?
Commodity Online MUMBAI: After a rally in gold that led to the international prices zooming to $1030 an ounce, will gold price reverse direction based on Wednesday's price level of $940 ?
Commodity Online TOKYO: Gold s plunge in the US did not affect its futures in Asia as it gained along with silver on Wednesday.
By Doug CaseyInflation is rising globally, driving Gold Bullion higher, as both money prices increase...
The Federal Open Market Committee decided today to lower its target for the federal funds rate 75 basis points to 2-1/4 percent.
The Federal Open Market Committee released the following statement on Tuesday., announcing a three-quarters of a percentage point rate cut at its closed-door meeting.
Adding to several aggressive steps to boost the economy this week, the Federal Reserve lowered its target benchmark interest rate by 0.75 percentage points to 2.25 percent. The Fed voted 8 to 2 in favor of the move citing weakening economic activity, softer labor markets, financial markets under considerable stress and a deepening housing crisis in the coming quarters.
By David GallandWhile almost everyone sees price inflation when it happens, few people notice the monetary inflation that is causing it.
Halifax has said that house price growth is continuing to slow, with prices in the UK falling by 0.3 per cent in February, according to its latest monthly survey.
The dollar fell to a fresh low versus the euro on Thursday after the European Central Bank and Bank of England decided to key their benchmark interest steady.
Gold futures rose sharply Wednesday, gaining from its steep decline in the previous session, as the dollar traded near an all-time low against its major counterparts and crude oil prices continued to fuel inflation jitters.
Treasuries rose on Friday, sending two-year yields to the lowest level in nearly four years, on new economic data which led investors to raise their expectations for a recession.
Oil surged more than 3 percent to an all-time high on Thursday after news that a fire struck a major European natural gas terminal.
Gold futures surged on Thursday, nearing a record high of $970 an ounce causing the dollar to continue its fall against the euro and boosted the precious metal's appeal as an inflation hedge.
Oil rose towards $101 a barrel on Thursday, trading within sight of its record high, as the U.S. dollar sank to a new low and after a supply cut in Nigeria, Africa's top exporter.
