The final trading session of this once again indecisive week in gold commenced with a price drop. The yellow metal erased Thursday’s gains and retreated to under $1,575 in slow pre-market action as the US dollar picked up some steam.
The price of gold has always been an object of interest for governments and central bankers. The reason is simple enough to understand: Gold is an objective measure of the degree to which fiat money is being managed well or managed poorly.
A rebounding fertilizer industry and an eye-popping $39 billion bid for Potash Corp. by the world's largest mining company, BHP Billiton, suggest that Canada's tiny handful of potash producers and aspiring miners are ripe plums for the picking.
Global fertilizer use must be ramped-up to avert a permanent food crisis and world instability. This is the stark message that was delivered at the BMO Capital Markets 2009 Agriculture, Protein and Fertilizer Conference in New York last week.