Thoughts on Markets

Wednesday, November 24, 2010

Be Thankful! Gold & Silver down - DOW & SPX up - Miners Holding - Dollar up

A Blessed Thanksgiving to one and all
Dwell on how the grace and providence of God has blessed your lives all this year. "In everything give thanks," because this is God's plan for your life. Praise Him daily and continually be in an attitude of prayer and obedience to Him.  

From Bloomberg.com:
China’s central bank pledged to strengthen liquidity management and “normalize” monetary conditions after having twice this month ordered banks to hold more in reserves to curb inflation that’s at a two-year high.
The nation will use quantitative and price tools to manage liquidity, Hu Xiaolian, a deputy governor of the People’s Bank of China, said in a statement posted to the central bank’s website today. China will also control the pace of bank lending for the remainder of this year as it will be difficult to stay within the government’s 7.5 trillion yuan ($1.13 billion) target for new loans in 2010, she said.  HERE.

From Kitco.com:
A.M. Kitco Metals Roundup: Comex Gold Weaker on Corrective Pullback, But Bulls Eye More Upside
24 November 2010, 8:12 a.m.
By Jim Wyckoff
Of Kitco News HERE.

From Kitco.com:
Market Nuggets: MF Global 'Wary' About Buying Base-Metal Dips After Recent Dollar Gains 24 November 2010, 8:41 a.m.
By Allen Sykora
Of Kitco News This has a cross section of market news. Check it HERE.

From Reuters.com:
Jobless claims at 2-year low, spending rises
New claims for jobless benefits last week dropped to their lowest level in more than two years while consumer spending rose in October, pointing to a moderate strengthening in economic activity.
But an unexpected sharp drop in orders for long-lasting manufactured goods last month was a reminder that growth would remain sluggish, and already low inflation slowed further, supporting the Federal Reserve's November 3 decision to again loosen monetary policy. The jobless figures have been manipulated to be politically correct. The spending comes from the season and the perception of some people that all is well here in River City in spite of the new pool table. HERE.

From TheStreet.com:
Gold Prices Slip as Volumes Thin
The low volumes tend to give us many false readings. This is typical. HERE.


Miners from Scottrade.com:

Currencies from Kitco.com:

Some prices: FVITF 4.0123; BULM 1.15; SILA 0.70; OLVRF 1.149; WRGL 0.03; DOW up 136 to 11176+; SPX up 16 to 1196+; Gold sown 4.20 to 1372.3; Silver down 0.07 to 27.44. Note that the miners are holding fairly well as the metals dip a bit. However, the metals are staying at a higher level this week of light trading.

A blessed Thanksgiving to all, Doug

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home