Crude oil prices neared four-month lows on Friday, set for their fourth straight week of declines, after data showed a contraction in China's factory sector and the dollar rose against a basket of currencies.
The truth, in regards to the world’s mineral resources, is that we in the western developed countries are not in control of supply. There are many serious concerns in regards to global resource extraction that we need to consider.
Late Monday-issued EW wave analysis noted that gold closed lower for the fourth straight session on Monday and that daily momentum was pointed “firmly lower” but that hourly momentum was diverging a bit.
The wholesale-market gold price leapt more than 1%, setting three-week highs above $1620 per ounce after European Central Bank chief Mario Draghi said "The ECB is ready to do whatever it takes to preserve" the single euro currency.
Spot market gold bullion prices fell to their lowest level in four months during Wednesday morning's London trading, hitting $1,581 an ounce – 3.7% down on the week so far – while European stock markets and commodities also fell and US Treasuries gained.
The failure and subsequent government bailout of Fannie Mae and Freddie Mac has been no surprise to the Casey Research team. But where do we go from here - will the bold action of the federal government save the housing market and revive the economy? The editors of The Casey Report weigh in with their thoughts...