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Saudi Maaden expects strong Q4 on gold prices
But, group says spending power has been diminished by the global crisis Read more….
ScotiaMocatta, the precious metals division of the Bank of Nova Scotia, said on Thursday that gold prices could rise to a high of $1,400 an ounce in 2010 as investors turn to the metal as a store of wealth, as reported to Reuters. The unemployment rate has been increasing at an alarming rate, yet the [...]
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Potash Corp sees demand returning early 2010
Potash Corporation of Saskatchewan CEO Bill Doyle admitted on Thursday he hasn’t had a great record this year in predicting when farmers will return to buying and using crop nutrients, but maintained that the situation as it stands cannot go on for much longer. The potash industry experienced strong demand and saw profits surge in [...]
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The Daily Reckoning “Who goes borrowing, goes sorrowing.” – Ben Franklin Today’s reckoning is going to be short. We’re on the road again…this time to Ireland where our Family office is headquartered. The quote above comes from one of America’s founding fathers. But it was recalled to us neither by America’s president, nor America’s secretary [...]
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The Daily Reckoning The US dollar is a sort of monetary brand. And like any other brand, it can fall out of favor. Even iconic brands can rapidly lose their “must-have” caché. Sometimes, a brand can disappear entirely, as did Pan American Airways or “Members Only” jackets. But there is always something else waiting to [...]
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Pangea DiamondFields bets on recovering prices
Aim-listed Pangea DiamondFields Plc (PDF), which nearly hit rock bottom in the financial crisis, is banking on recovering diamond prices and an upturn in the wider US economy to help turn the company around. The diamond company added it sees its new Cassanguidi mine in Angola as underpinning its prospects. Read more….
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By Pham-Duy Nguyen Oct. 19 (Bloomberg) — Gold’s rally to a record means prices are still 53 percent below the 1980 inflation-adjusted peak. While gold rose 19 percent this year to $1,072 an ounce on Oct. 14, consumer prices almost tripled in the past three decades, eroding the metal’s value. Bullion hasn’t kept pace with [...]
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The Daily Reckoning Two important items in the news today: First, Bloomberg reports that retails sales fell 2.1% in September – the biggest decrease this year. Know what that means? It means the “Age of Thrift” is here…and that consumers really are cutting back – just like we said they would. And it means that [...]
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Now approaching levels last seen before the financial crisis Read more….
The Daily Reckoning As predicted, both the European Central Bank and the Bank of England kept their benchmark interest rates at record lows in an effort to keep stimulating their economies. Trichet signaled that the ECB has no plans to raise rates in the near future, stating that the current level is ‘appropriate’ for the [...]
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