Gold is trading near four-year lows this morning after breaking under the triple bottom established around the $1,185 level. After an initial dip on the Asia open, it has been trading in a tight range on the either side of the $1,170 mark. Silver is modestly lower this morning, hovering above $16.00. It fell on […]
The Bank of Japan shocked markets today with sudden large increase in its stimulus program. Already running the world’s largest QE program, the B0J announced that it was boosting its goal to raise the monetary base in two years from 60-70 trillion yen to 80 trillion yen. Stock markets exploded, with the Japanese Nikkei index […]
According to various sources, the “Your Weight In Gold” program offered by the municipal government of Dubai (United Arab Emirates) has hit a temporary snag: there were so many successful participants this year, the distribution of prizes–in the form of gold coins–will be delayed until December. The government incentive, known in its second year as...
The Commerce Department released its preliminary estimates for third quarter GDP for the US this morning showing a 3.5% increase in the economy. This is more than the 3.0% analysts expected, and follows are big 4.6% increase for the second quarter. A 10% increase in spending by the Federal government offset softer consumer spending. The […]
This afternoon, we will get the policy statement from the most anticipated FOMC meeting since the taper to the Fed’s $85 billion a month bond-buying scheme was announced. If everything goes to schedule, the Federal Reserve Open Market Committee will announce the end of QE3, which had been throttled down to $15 billion a month. […]
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