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
Gold Gold finished trading in New York yesterday at $874.40, down $4.50 and silver was down 11 cents to $16.46. Gold has again recovered somewhat in Asian and early European trading and is trading at $883.00/883.40 per ounce (1058 GMT). The credit crisis continues as evidenced in the world's largest insurer, American International Group, reporting a quarterly loss of $5.36bn with profits wiped out by further mortgage related writedowns.
Gold Gold finished trading in New York yesterday at $878.90, down $20.50 and silver was down 56 cents to $16.57. Gold has recovered somewhat in Asian and early European trading and is trading at $885.20/885.70 per ounce (1200 GMT). With commodities and oil falling again yesterday, gold continued its recent poor performance. Gold suffered technical damage yesterday with a close below the 200 day moving average at $887/oz. A weekly close below $887/oz would be even more damaging.
Gold Gold finished trading in New York yesterday at $899.20, down $9.10 and silver was down 37 cents to $17.13. Gold continued to sell off in Asia and in early European trading. Gold has sold off on oil's steep falls and with sharp falls in many other commodity markets.
Gold Gold finished trading in New York yesterday at $913.70, up $10.70 and silver was up 37 cents to $17.72. Gold surged on the COMEX open after initial jobless claims rose sharply to their highest level in 5 years. Gold subsequently gradually sold off and the slow sell off continued in electronic trading and in Asian and early European trading. Gold's weakness is likely due to continuing weakness in oil and commodity markets with the Reuters-Jefferies CRB Index having experienced its largest monthly drop in 28 years.
Gold Gold finished trading in New York yesterday at $903.00, down $14.00 but silver was up 5 cents to $17.35. After sharp falls in early trading in the COMEX yesterday (some of which was due to large stop loss sell orders being triggered around the $900 mark) gold rose to close only down some 1.5% on the day. Silver in similar volatile trading surged from interday lows to close higher.
Gold Gold finished trading in New York yesterday at $917.00, down $10.70 and silver was down 10 cents to $17.30. Gold rose slightly in Asian trading before falling.
Small to medium enterprises are the life blood of modern economies. In Ireland for example, up to 56% of the national workforce is employed in by Small to Medium Enterprises, that is to say companies that employ less the 250 employees and would include local industries and mom and pop business outfits. From the United States to Germany and beyond small to medium enterprises are responsible for a large component a countries transactions, employment, provision of goods and services and general day to day activities and are critical to the health of any economy. Given the increasingly uncertain economic climate critical questions must be asked – How can these critical and indigenous industries survive a rapid economic contraction – can they react to a swift fall off in demand for goods and services; do they have the management skills and Management Information Systems to not only recognise the problems but be able to formulate a cohesive response; how robust are their finances; how flexible are their employees? Concerns are growing that with the economic success enjoyed by many countries over the past ten years we have inadvertently created a weak and desperately soft underbelly – That is to say we have forgotten how to manage our business competently. Many small businesses have grown lazy and despondent and lack the management skills needed to properly navigate their business through difficult times.
Browsing through digg this morning I notice an article titled 9 ways you can take advantage of this "terrible" economy.It's currently riding high in the digg popularity stakes with just shy of 1000 diggs. It is, I think, a great example of what I choose to call The lalalalalalalalalala Effect - named after the sound one must make
Gold Gold finished trading in New York yesterday at $927.70, up $1.30 and silver was up 8 cents to $17.40. Gold rose slightly in Asian trading before falling.
Gold Gold finished trading in New York on Friday at $928.40, up $6.00 and silver was up 12 cents to $17.34.
Gold Gold finished trading in New York yesterday at $922.20, down 50 cents and silver was down 16 cents to $17.22. Gold has rallied in Asia and in early European trading. While oil is up slightly and the dollar is down slightly, gold is likely to be up on bargain hunting and safe haven buying.
Gold Gold finished trading in New York yesterday at $922.70, down $25.50 and silver was down 55 cents to $17.38. Gold has rallied in Asia and in early European trading with bargain hunting buying. Traders and investors with more medium to long term horizons realise that the speed and depth of the sell off is overdone. Especially as none of the fundamental macroeconomic or geopolitical issues have disappeared or even abated.
Gold Gold finished trading in New York yesterday at $948.20, down $15.20 and silver was down 44 cents to 17.93. Gold continued to fall in Asia and in early European trading it is down by nearly 1.3%. Gold was due a correction after its recent surge in price and remains up some 6% in the last month (from $882 to $935) unlike oil and the majority of stock markets (which are down by similar amounts).
Gold Gold finished trading in New York yesterday at $963.40, up $7.00 and silver was up 25 cents to $18.37. Gold traded sideways to slightly up in Asia before rising in early European trading by nearly 1%. Gold remained firm and the dollar was under steady selling pressure for much of the day yesterday and remained so overnight as markets reacted to a bounce in oil prices and a raft of dismal earnings reports from a number of leading U.S.
Gold Gold finished trading in New York on Friday at $956.40, down $12.70 and silver fell 53 cents to 18.12. Gold traded sideways to slightly up in Asia before rising in early European trading by nearly 1%. Despite the very sharp fall in oil prices and other commodities last week, gold only fell by 0.2%. Silver was down by 3%. August Crude fell by more than 11% - it fell $16.34 from over $145 to $128.74. And Prudent Bear’s Doug Noland points out that August Gasoline sank 11.5% (up 27.8% y-t-d), and August Natural Gas dropped 10.2% (up 42.9% y-t-d).
Gold Gold finished trading in New York yesterday at $957.00, down $4.00. Gold traded sideways and rose in Asia before rising in early European trading and then falling again and is now down 0.15% for the day. Equity markets have bounced on what is likely to be another short term correction on massive short covering.
From Wikipedia: Bank runs first appeared as part of cycles of credit expansion and its subsequent contraction. In the 16th century onwards, English goldsmiths issuing promissory notes suffered severe failures due to bad harvests plummeting parts of the country into famine and unrest.
Gold Gold finished trading in New York yesterday at $977.10, up $5.00 and silver was down to $18.92, down 27 cents. Gold fell in Asia before rising in early European trading. Gold rallied strongly in early trading yesterday on higher oil, a lower dollar and increasing macroeconomic and systemic risk prior to the sharp fall in oil prices (some $10 in a short period of time) which led to a selloff in precious metals. Despite the sharp selloff in oil, gold again remained resilient and finished some 0.5% higher in New York.