Thoughts on Markets

Friday, April 23, 2010

Harmony Gold - Broad Market Topping?

Both precious metals are showing signs of wanting to move higher, but a force keeps them from sprinting ahead. Silver continues to lag behind gold, but should see a better day before too long.

There is an interesting new EFT for silver miners which began trading last week under the symbol SIL. I want to let the price settle down a bit before really looking into it. However, off hand it could be another good investment vehicle to replace some of the miners mutual funds.


Gold could hit $1,600/oz but silver, pgms will likely outperform

BMO Capital Markets Bart Melek says commodity prices are riding the global recovery wave with copper, platinum, silver met coal, and iron ore as his top picks.

Read the article HERE.


Shadow Elite: Goldman Sachs - Fraud Is Not the Scandal

The last few "Shadow Elite" columns have examined the troubling expansion of executive powers in recent decades. The 2008 financial bailout delivered yet more unchecked authority to the executive branch. As Yale consitutional law expert Jack Balkin puts it, "the Treasury Secretary [took] over a sizable chunk of the nation's capital ... markets. Because [he] is effectively un-reviewable, he [had the power to] make sweetheart deals with .... firms .... that got us into this mess." This week, a look at the influence of the firm that critics say landed one of those so-called sweetheart deals, and now faces charges of fraud for some of its own dealings: Goldman Sachs. -Janine R. Wedel Read it HERE.


Big gold strike for Harmony & Newcrest

color: rgb(0, 0, 153);">New drill results could see PNG's Golpu develop into one of the most significant copper-gold projects" in the country with a possible size potential of 13m ounces of gold and 6.5m tonnes of copper

Good news for one of my core holdings Harmony. Read the article HERE.


Hidden In The PPI Data Was The Largest Food Price Spike In 26 Years

Read the article and enjoy the great graph HERE.


Escalating Greek default fears rock Europe's debt markets

With contagion spreading across Southern Europe, spreads on 10-year Greek bonds exploded to almost 600 basis points over German Bunds in panic trading, pushing borrowing costs close to 9pc. Rates on two-year debt rose to 10.6pc in a market gone mad.

“It is clear that the Greek situation is a very serious one,” said Dominique Strauss-Kahn, head of the International Monetary Fund. “There is no silver bullet to solve it in an easy manner.” Read the article HERE.

From the Daily

Chuck Butler pointed to an interesting video which gives the perspective of Obama budget cuts. View it HERE. You will then see how wimpish the proposed cuts are.

Miners from

Currencies from


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