Few are aware that America may be on the brink of a financial meltdown. I.O.U.S.A. explores the country’s shocking current fiscal condition and ways to avoid a national economic disaster.
Both gold and silver gave back the previous day’s gains yesterday on the COMEX. Gold finished trading in New York on Friday at $808.30, down $17.20 and silver was down 58 cents to $14.23.
Gold finished trading in New York on Friday at $825.50, up $15.80 and silver was up 37 cents to $14.81. Gold continued to rise in Asian and early European trading and is trading at $831.80/832.40 per ounce (1200 GMT).
The much anticipated bounce in gold occurred yesterday and continued overnight as the dollar weakened and oil prices firmed again.
Since the start of the credit crisis, one year ago, gold remains up 27% (from $650 to $830).
It seems that Wall St. are trying to blame the straw for breaking the camel’s back.
Gold finished trading in New York on Friday at $821.50, down $36.00 and silver was down 71 cents to $14.48. Gold continued to fall in Asian and early European trading and is trading at $809.00/809.60 per ounce (1100 GMT).
The breach of the psychologically and technically important $845 – 850/oz level yesterday saw a massive wave of stop loss sell orders being executed leading to gold plummeting more than 4%.
Gold finished trading in New York on Friday at $857.50, down $11.90 and silver was down 92 cents to $15.29. Gold has risen in Asian and early European trading and is trading at $860.10/860.60 per ounce (1230 GMT).
The sharp dollar rally has continued (with the euro falling as low as 1.4927) and this is contributing to material weakness in the gold market.
Gold finished trading in New York yesterday at $869.40, down $5.00 and silver was down 25 cents to $16.21.
Irish writer, Joe O’Connor has been appearing on RTE’s (Ireland’s national radio station – akin to the BBC) Drivetime in recent weeks with some witty, inspiring and uplifting poetry.
His beautiful words perfectly illustrate how an economic recession or depression is not the ‘end of the world’ rather simply a period of slower or declining economic growth.
While O’Connor’s poem is focused on