by Adrian Ash on December 4, 2009
THE PRICE OF GOLD sank through $1200 an ounce for the first time in 3 days on Friday, falling fast to $1190 and below on news that US unemployment rose by just 11,000 last month.
Wall Street analysts had expected 111,000 job losses for November. The unemployment rate ticked down to 10.0%.
“We are bullish while [gold] achieves fresh highs, but cautious of any quick reversal,” said the latest technical analysis from Scotia Mocatta this morning, suggesting a trailing stop loss “below 1183 for short-term traders.”
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by Kris Sayce on November 19, 2009
As you may have noticed, we’ve given the climate change/global warming “tree” a bit of a shake over the last few days.
Given the response, we’ve clearly strayed into dangerous territory. More dangerous perhaps than when we took on the property clowns and their lies about a housing shortage and that property doubles every seven years.
Anyway, many of the comments we’ve received to the Money Morning mailbag have agreed with our view. Others haven’t. Others still have suggested your editor is a “right wing extremist” and a “climate change denier.”
And even that we’ll claim we’ve been abducted by aliens next!
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by Adrian Ash on November 13, 2009
Non-US investors haven’t enjoyed the same stock rally as Wall Street. Whereas in gold…
“THE DOLLAR is still driving gold,” agree the analysts, pundits and chart-watchers now scratching their heads about where gold is headed next.
That’s kind of true, but not entirely. Yes, the Dollar’s fall against gold since the start of this decade has been greater than the drop suffered to date by the rest of the world’s currencies.
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by Kris Sayce on November 3, 2009
We only have a brief Money Morning for you today.
We’re back in Melbourne and of course it’s Melbourne Cup Day. So your editor is going to relax for most of today after only getting back into Melbourne at 2am this morning, followed by an hour drive home to Frankston.
One of the things we did notice over the last few days is how easy it is to forget what’s happening in financial markets when you’re enjoying yourself on holiday.
For instance, it wasn’t until Sunday morning that we read about Wall Street’s 250 point drop from Friday.
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by Shae Smith on October 15, 2009
Morning reader,
Kris Sayce is busy finishing up Australian Wealth Gameplan today. So, I thought I’d share a few words with you this morning.
Yes, he did make me assemble my own chair. And, surprisingly it hasn’t fallen apart – yet.
Kris will be back tomorrow, but in the meantime, grab a coffee and enjoy…
“The signs of recovery being seen around the world are due to huge stimulus packages, which will only prop up economies for another 12 to 18 months before they collapse again.”
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