Streetwise Articles
Dry Rot in Bush's Housing Plan
Source: Adrian Ash, Bullion Vault (9/25/08)
It's really not their fault. With the best will in the world, things just kind of...you know...went awry…
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End Of The Road
Source: Roger Wiegand, WeBeatTheStreet.com (9/25/08)
Chickens have come home to roost along with dozens of huge, black credit vultures perching nearby ready to strike. Paulson and Bernanke have come to that final moment in time, that denouement, that unraveling of their dirty little plot from which there is no escape.
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How Will Gold and the Dollar Take Paulson's Package?
Source: www.GoldForecaster.com (9/25/08)
Attention of the U.S. financial problem is focused on internal solutions with little attention being paid to the position of the Dollar in the rescue formula. After all, it is against the Dollar and its global place that gold and silver have moved inversely for the last year and more.
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Gold Coin Sales Halted After Retail Rush
Source: ft.com (9/25/08)
The US Mint said it has sold 164,000 ounces of gold in American Buffalo one-ounce bullion coins since January, almost 54 per cent more than in the same period of last year. Demand for other gold coins from the US Mint is also very strong...
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Gold "the Safest" Vehicle
Source: Mineweb (9/25/08)
Longer-term, says Roland Duss - co-chief investment officer at Gonet & Cie, the Swiss private bank based in Geneva - the price of Gold Bullion could reach $2,000 or more per ounce over the next decade. "We are still in a commodities bull market."
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It's the End of the World as We Know It and I Own Gold
Source: Seeking Alpha, Tim Iacono (9/25/08)
The real reason to own gold is that governments are in the process of debasing their currencies in order to alleviate the pain of souring economies that were built on a fundamentally flawed principal - that more easy money can solve the problems created by prior easy money.
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Weak Dollar Propels Gold's Status
Source: Seeking Alpha (9/25/08)
“As we get to the other side of this bailout plan, the dollar will get crushed,” John Taylor, chairman of New York-based International Foreign Exchange Concepts, the world’s biggest currency hedge-fund firm, told Australia’s The Age newspaper.
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Now U.S. Mint Suspends Sale of 1 oz Gold Buffalo
Source: Reuters (9/25/08)
"Demand has exceeded supply for American Buffalo 24-karat gold one-ounce bullion coins, and our inventories have been depleted. We are, therefore, temporarily suspending sales of these coins," the Mint said in a memorandum to authorized American Buffalo dealers.
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World Gold Council Asserts Gold Is Not a Volatile Asset
Source: Mineweb (9/25/08)
There is a commonly-held misconception that since the credit crisis' eruption in August 2007, gold has become a volatile asset. Its volatility certainly has increased since then, but gold has remained less volatile than other major asset classes such as the rest of the precious metals sector, oil, the GSCI commodity index and equity markets...
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The Commodity Bull Is Still in the China Shop
Source: Seeking Alpha, Eric Roseman (9/24/08)
...gold stocks haven't been this cheap and bombed-out since 2005. In fact, the mining stocks trade at a seven-year low versus physical gold! You should be aggressively buying up this sector now...
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Gold Dips Below $900, off Seven Week Highs
Source: Reuters (9/23/08)
"...the next two to three days will be very telling," said Darren Heathcote of Investec Australia in Sydney. "There's potential in the days ahead we might go back below $900, but one would expect we are going to get a lot of support probably in the $870 to $880s. Likewise, we may find resistance pushing through about $930 at the moment," he said, referring to a level last seen in July.
North American Stocks Stage Broad Rally
Source: Mineweb (9/23/08)
Yesterday's moves in gold bullion prices were broader based, consolidating on the gains made over the previous three trading days. This broadened the wider gold equities rally, which spread rapidly to North American silver stocks. The most significant and powerful investment inflow was evident among the Tier I gold grouping.
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All That Gold Is Really in the Gold ETF, Right?
Source: Seeking Alpha, Tim Iacono (9/23/08)
The inventory at the SPDR Gold Shares ETF (GLD) made a new all-time high yesterday at 710 tonnes, exceeding the level of 706 tonnes reached on just two days in July.
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High Numbers of Gold and Silver Mergers Forecasted
Source: Seeking Alpha (9/23/08)
There will be an unprecedented wave of merger and acquisition activity in the gold and silver space that will see junior miners and development companies victimized by factors beyond their control and snatched up by senior and mid-tier producers making use of their healthy cash flows and stable balance sheets, according to a new report from Blackmont Capital.
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Resource Turmoil Favors Coal, Copper and Precious Metals
Source: ibitimes.com (9/22/08)
By Tuesday last week, the world's top 20 mining and top 20 oil stocks had lost USD 2.2 trillion in market value (capitalisation), from record highs seen over the past 12 months; ahead of the opening of markets in the Americas on Monday, close to USD 400bn of that lost value had been clawed back.
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Has the Dollar Peaked?
Source: Mineweb (9/22/08)
Treasury Secretary Hank Paulson's plan spells danger for the dollar, which, as the biggest currency in the world, retains its status as one of the most important calls in the murky seas of investing.
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Silver is the Only Asset that is Not Someone Else's Liability
Source: David Morgan, Silver Investor (9/22/08)
I am a big proponent of owning physical metal. Real metal is not easy to obtain today and has not been easy for the past few weeks. This might give you pause to consider your asset allocation and whether you have any exposure to further financial disruptions.
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Got Gold?
Source: cnbc.com (9/22/08)
... there’s a chance your gold investment could be more than just insurance. Jim Cramer of Mad Money TV said there are anecdotal stories about Dubai merchants who are unable to keep gold in stock because demand for jewelry in the developing world. So your gold holdings could tick up regardless of how things here at home pan out...
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No Taste Like Liquidity for Global Mining Stocks
Source: Mineweb (9/21/08)
As fears ease over the global credit markets crisis, the world's top 40 mining and oil stocks clawed back nearly USD 400bn worth of market value in just three days.
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The World Gone Crazy and Your Gold Stocks
Source: Kenneth Gerbino, goldseek.com (9/21/08)
...The bottom line is that the precious metal mining stocks with economic resources in the ground will rebound dramatically led by the larger producers...
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Still Strong Fundamentals for Commodities
Source: Reuters (9/20/08)
"On a longer term basis I'm still very comfortable with commodities," said Jonathan Blake at Baring Asset Management. "The fundamental drivers on a longer-term basis remain in place."
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Pierre Lassonde: Moving Sideways Toward the Next Upside
Source: The Gold Report (9/19/08)
Veteran gold analyst and mining executive Pierre Lassonde knows this sector inside and out. He understands the plight of the juniors and the many influences on gold's behavior. In this exclusive interview with The Gold Report, he predicts limited downside given the accelerating demand for natural resources and shares his favorite companies.
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U.S. Government to Secure Mortgage Market with Gold Reserves
Source: moneymarketing.co.uk (9/19/08)
The Exchange Stabilisation Fund was created after the Great Depression and uses the US gold reserve as collateral for financial stability...
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The AIG Bailout, What’s Next?
Source: Olivier Garret, CEO Casey Research (9/19/08)
Wondering where it’s all going to end? Or who’s going to be left standing once the dust settles from this latest round of financial collapses?
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Citigroup Metals Analysts Ask Why Gold Is Not Already at $2,000/oz.
Source: Mineweb (9/19/08)
In an analysis published Wednesday, John H. Hill and Graham Wark suggested, "Gold appears to be entering a powerful new phrase of investment demand tied to safe-haven and monetization themes."
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