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Ed Steer's Gold & Silver Daily
India Buys 200 Tonnes of IMF Gold: Barrick and JPMorgan Run For The Exits... 11/03/2009
Daily Pfennig 11/3/09 : RBA Raises Rates Again!
Good day... And a Terrific Tuesday to you! Well, I'm here! Just when you thought I would be gone for the week, and you would get away from my rants, and get the calm Chris Gaffney, the rug gets pulled out from you! I am so bummed! I was told that I could not travel to Cabo for the Sovereign Society's Offshore Advantage Conference, and I was to remain at home, with my leg up, blah, blah, blah... What a crock! 11/03/2009
Daily Pfennig 10/30/09 : 3rd QTR GDP Is Strong!
Good day... And a Happy Friday to one and all! I can't believe how hard it rained here yesterday... Unbelievable! And me, with my cane, and not able to run, was stuck in it going from the car... Absolutely soaked! If I were a kid, I would have thought that to be fun! But, I'm not... It's still raining this morning too! UGH! Let's hope it stops in time for the Trick-or-Treaters! 10/30/2009
Daily Pfennig 10/29/09: 3rd QTR GDP To Lift Our Spirits?
Good day... And a Thunderin' Thursday to you once again! It's not raining at the moment, but rain is forecast for today, thus the Thunderin' Thursday name! Rain today, tomorrow and who knows when it will stop... I'm thinking of buying the blueprints to build an Ark! 10/29/2009
Daily Pfennig 10/28/09 : Consumer Confidence Drops!
Good day... And a Wonderful Wednesday to you! It's still raining here... Quite frankly, I don't know how people that live in rainy areas do it! I don't mind rainy days, as long as they are sprinkled in with the days of sunshine! 10/28/2009
Daily Pfennig 10/27/09: The Dollar Bounces Bank!
Good day... And a Terrific Tuesday to you! The rain is back... First we had the coldest / rainiest spring I can ever recall, and then a very mild summer, now this... Cold and rain in the fall... I'd say that's climate change for you! 10/27/2009
Daily Pfennig 10/26/09 : Franc Hits Parity!
Good day... And a Marvelous Monday to you! It's raining again this morning... But I'm going to start today's letter off with something that I found to be simply amazing this weekend... Here's the skinny (don't worry, I'll get to the currencies in a minute!) 10/26/2009
Daily Pfennig 10/23/09 : Jobless recovery?? Not going to happen....
Good day...and happy Friday! It has been a fairly busy week here at EverBank, with the issuance of another big BRIC MarketSafe CD, the maturity of another MarketSafe, and a big acquisition (more on that later). While things were a bit crazy at EverBank, the currency markets were fairly uneventful. The dollar started the day off with a move up after a positive report on US leading indicators, but it gave back most of the gains as the trading day wore on. At the end of the day, only one currency moved more than 1% vs. the greenback, with the pound sterling dropping almost 1.5%. 10/23/2009
Ed Steer's Gold & Silver Daily
Russia To Sell 45 Tonnes of Gold?: I wouldn't read a thing into Thursday's 'activity' in either gold or silver. It was just another day off the calendar with nothing resolved... up or down. The highs... if you wish to dignify them with that name... in both metals occurred in morning trading in Hong Kong. There was an intermediate low in gold and silver at the London a.m. gold fix at 5:30 a.m. New York time, an intermediate top at the Comex open... and from there they got sold down to their respective lows of the day at the London p.m. gold fix at 10:00 a.m. New York time. 10/23/2009
Ed Steer's Gold & Silver Daily
U.S. Bullion Banks Pile In on the Short Side Again Yesterday: Gold didn't do much in Far East trading on Wednesday. There was a minor peak at the London open and then the selling began in earnest. This selling spree ended at 9:00 a.m. in New York... and from there a rally of sorts began that lasted until shortly after 3:00 p.m. Then everything fell apart. True, gold finished a few dollars higher on the day, but the real damage was elsewhere. 10/22/2009
Daily Pfennig 10/22/09 China Grows at +8.9%!
Good day... And a Thunderin' Thursday to you! It's raining outside, so... It must be a Thursday! Amazing how many Thursdays have seen rain this fall! The ground isn't the only thing that's getting watered down this morning... 10/22/2009
Ed Steer's Gold & Silver Daily
Russia's Central Bank Buys 400,000 Ounces of Gold in September: Gold hit its high tick of the day about 3:50 p.m. in Hong Kong trading in their Tuesday afternoon. That was also the bottom for the U.S. dollar. Since then, gold [and silver] have been in a down trend... with most of the damage starting shortly before the Comex open and ending shortly before lunchtime in New York. 10/21/2009
Daily Pfennig 10/21/09 : Brazil Throws The Cat Among The Pigeons!
Good day... And a Wonderful Wednesday to you! How many people out there know about "network neutrality"? Well, if you don't know, you're about to find out tomorrow, when it will be decided upon... I'm not going to get into it, because after you find out what it is you'll know why I didn't explain... All I'll say is that this is just another thing that's flying below the radar that's about to be thrown in our laps... 10/21/2009
Ed Steer's Gold & Silver Daily
Still Waiting For a Resolution...: Gold opened at $1052.80 in early Far East trading on Monday morning... and never got more than three or four bucks either side of that price until the London p.m. gold fix at 3:00 p.m. in London... 10:00 a.m. in New York. The London fix was also the low of the day at $1,047.10 spot. From there, away it [and silver] went. 10/20/2009
Daily Pfennig 10/20/09 : Will History Repeat Itself?
Good day... And a Terrific Tuesday to you! A long day on the desk for me yesterday, left me draggin' the line... But I'm rested and refreshed again this morning, so let's get to the Pfennig for today! The Finance Ministers of the Eurozone met yesterday, as I told you, and they've tried to stem the euro's rise... But, they'll need more than words to get the job done! And so, we begin a new day... 10/20/2009
Technically Precious with Merv - 10/19/09
The market action is signaling a short term topping activity but not yet one of a longer term nature. The next few days or weeks may give us a better clue as to the longer term direction for gold. 10/19/2009
Daily Pfennig 10/19/09 : Dollar continues to fall...
Good day... And a Marvelous Monday to you! Another "lost" weekend for our college and professional football teams! UGH! The sun finally came out this weekend. YAHOO! It felt so good to be in the sun again... The TICs data was something that needed to be dealt with on Friday, but once again the markets ignored it... I'm telling you, this smells like, walks like, and talks like a gag order... OK... Let's get going this Marvelous Monday! 10/19/2009
Daily Pfennig 10/16/09 : RBA's Stevens Turns On The Green Light!
Good day... And a Happy Friday to one and all! I believe it will be a Fantastico Friday as well, because when I go in my car this morning to come to work, the radio was playing, "It's a Beautiful Morning"... It had to be a sign, right? I certainly hope so any way! 10/16/2009
Ed Steer's Gold & Silver Daily
Still Unresolved... and Still Sitting on the Fence: Both gold and silver got sold off pretty hard starting shortly after 3:00 p.m. in Hong Kong trading yesterday. Three or four separate bouts of selling from that point took both metals down to a low which occurred moments before trading began in New York... 10/16/2009
Daily Pfennig 10/15/09 : Dow hits 10,000 and the dollar is down...
Good day... It is a Thunderin Thursday here as the rain continues for another day. We have had a very wet two weeks here in the midwest, but the cold rain is finally supposed to stop later today. The currencies continued to their thunderin stampede over the US$ yesterday with several reaching fresh highs. The Dow Jones average moved above 10,000 again, so everything must be alright in the world economy now, right?? This morning the dollar bounced back up, but it looks like profit taking and not a more permanent trend. Lots to talk about today, so I'll get right to it. 10/15/2009
