By Kishori Krishnan Exclusive To Gold Investing News The news just gets better. Gold prices are set to hit $1,500 an ounce in the next 12 to 15 months, said Gary Dugan, the Chief Investment Officer of Merrill Lynch. Dugan termed his apprehensions of gold striking such a high as a ‘fear’ that may come [...]
National Jeweler Network(Editorial-Sept 24) reports big jewelers though not in competition with other independent jewelers, bankruptcy of the two retail giants: Friedman’s Jewelers and Whitehall Jewellers will make waves in the industry. Friedman’s filed for Chapter 11 bankruptcy protection in January, with Whitehall following suit in June, a somewhat surprising occurrence considering that two months earlier, the Chicago-based [...]
MarketWatch reports gold rose slightly above $900 an ounce this morning as the US dollar weakens. Investors were also paying close attention to the second-day of Congressional testimony by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke on the government’s $700 billion plan to bail out the ailing financial system. Gold for December delivery rose [...]
Bloomberg.com reports gold prices made the biggest jump in 26 years with the worst financial crisis since 1920s. Gold also headed for its largest weekly gain since October 1999 after the U.S. yesterday took over American International Group Inc., the country’s largest insurer, and Lehman Brothers Holdings Inc. filed for bankruptcy. The Federal Reserve today almost [...]
CNN money.com reports gold prices a record again after the financial markets tumbled with the weak dollar. Gold for December delivery was up $70, or 9%, to settle at $850.50 an ounce. The gain surpassed the previous mark, $64, set Jan. 29, 1980, during a period of surging inflation. For complete story, click this link. Follow developments [...]
Bloomberg.com reports gold price fell with investors having to sell commodities to cover costs. Gold futures for December delivery fell $6.50, or 0.8 percent, to $780.50 an ounce on the Comex division of the New York Mercantile Exchange. The metal has dropped 6.9 percent this year. Precious metals with wider industrial applications than gold suffered [...]
The Grandich Letter(Editorial) discusses the markets, gold commodity and mining companies. About a year ago, I sounded the alarm just days after the Dow Jones industrial Average made a new all-time high. I entitled the newsletter “Man Your Battle Stations.” In that newsletter I envisioned (actually, all anyone can do is make an educated guess [...]
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