Gold’s surge to a record sparked speculation that central banks may be stepping up purchases of the precious metal. Tuesday, gold contracts for June delivery rose $4.70, or 0.4%, to $1,244 a troy ounce, a record settlement price on the Comex division of the New York Mercantile Exchange.
“The collapse of the financial system as we know it is real, and the crisis is far from over,” Soros said today at a conference in Vienna. “Indeed, we have just entered Act II of the drama.”
AG said today in a report that projects prices will hit $1,500 (U.S.) an ounce in the next 12 months and says anything below $1,200 represents a buying opportunity.
U.S. foreclosure activity fell in April as lenders repossessed homes at a record pace but started far fewer new actions against struggling homeowners, signaling a plateau in loan failures, RealtyTrac said on Thursday.
The following is an excerpt from the free 29-page American Expatriation Guide, written by a former U.S. citizen who wants to remain anonymous. Read what he has to say – from a “been there, done that” perspective – and maybe take your own first steps to move to greener pastures. Everybody has their own personal […]
The risks to a robust global recovery have ‘risen significantly’ as many governments struggle with debt, a leading official from the International Monetary Fund has warned.
OPEC on Wednesday slightly revised up its forecast for world economic growth but left 2010 oil demand largely unchanged as Europe’s debt crisis, an oversupply of crude in the market and a potential cooling in China’s growth pointed to “economic signs that are not rosy.”
The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.
People can change the volume, the location and the composition of their income, and they can do so in response to changes in government policies.
The price of gold rose to an all-time high point above $1,250 an ounce on Tuesday, as investors nervous about the weak state of the global economy sought safety in the precious metal.
Stocks fell on Monday in a late-day selloff that took the Dow Jones Industrial Average below its lows of the May 6 “flash crash.”
The Dow ended down 115.48 points, or 1.2%, at a seven-month low of 9816.49 and below 9869.62, its low-point of the May 6 slide. That day, buyers rushed into the market at that level, helping pare a 1,000-point drop to a decline of 347.80 points.
Some of the world’s richest central banks will not stop investing in the euro, supporting its reserve status, despite the sovereign debt crisis hammering the euro zone’s currency, government sources said.
Here’s the list of attendees at the 2010 Bilderberg meetings.
By Garfield Reynolds and Wes Goodman June 4 (Bloomberg) — President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output, a step toward what Bill Gross called a “debt super cycle.” The CHART OF THE DAY tracks U.S. gross domestic product and […]
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Secretive and elite – the Bilderberg group, which unites some of the World’s most powerful people, has been meeting behind closed doors for decades
On this week’s program, Jerry Robinson gives his insights concerning the widening European Debt Crisis, the BP Oil Spill, along with an in-depth look at the other most important headlines of the week. Our special guest interview is with Paul Nolte, CFA (Dearborn Partners, Managing Director). Mr. Nolte provides his market outlook for equities for the next several months.
American companies hired fewer workers in May than forecast and workers dropped out of the labor force, indicating government support is still needed to spur economic growth. Private payrolls rose by 41,000, Labor Department figures showed today, trailing the 180,000 gain forecast by economists. Including government workers, employment rose by 431,000, boosted by a jump in hiring of temporary census workers. The jobless rate fell to 9.7 percent from 9.9 percent.
The federal government is now $13 trillion in the red, the Treasury Department reported Wednesday, marking the first time the government has sunk that far into debt and putting a sharp point on the spending debate on Capitol Hill.
The Obama administration is blocking all new offshore drilling in the Gulf of Mexico, a day after regulators approved a new permit for drilling in shallow water.
Thomas Hoenig, the president of the Kansas City Federal Reserve bank, laid out on Thursday his proposed plan to take short-term interest rates from near-zero to 4.5%. In a speech in Bartlesville, Okla., Hoenig said the country pays a high cost for low interest rates, suggesting that the financial crisis stemmed from the very low interest rates of 2002-2005.
The brokerage firm that’s faced the most scrutiny from regulators in the past year over the shorting of mortgage related securities seems to have had good timing when it came to something else: the stock of British oil giant BP.
According to regulatory filings, RawStory.com has found that Goldman Sachs sold 4,680,822 shares of BP in the first quarter of 2010. Goldman’s sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP’s stock during the quarter.