Business is so tough for oilfield giants Schlumberger NV and Halliburton Co that they have come up with a new sales pitch for crude producers halting work in the worst downturn in years. It amounts to this: "frack now and pay later."
These are scary times for precious metal investors. Resource equities are in the tank and, adding insult to injury, the gold price took a precipitous fall just days before summer, notoriously one of the slowest seasons for precious metals.
Ireland’s Finance Minister, and current European Council President, Michael Noonan, is introducing a proposal to European finance ministers that will hit depositors that hold more than €100,000 in the event of future bank collapses.
For resource expert Joachim Berlenbach copper is shining brighter than gold — he even does some back-of-the-envelope calculations to show how global development could create a serious supply bottleneck.
The price movement of gold and silver often attract much attention. When prices make a noticeable increase, it regularly leads to perma-bulls calling for the next great explosion in precious metals. On the other hand, any dips or corrections lead to critics calling for an end to the 12-year bull market.