"Between Christmas and year-end, the volume in the market shrinks rather drastically," says Afshin Nabavi, head trader at MKS, the Swiss refinery group, also speaking to the Wall Street Journal.
"Because of scale-down buying by traders looking to sell onto jewelers, the market is probably not as low as it could be." Full Story
The lower $ can fix some things, and between this and the present bond bubble bursting, again, it’s not difficult envisioning precious metals benefiting from such a paradigm shift. However the stock market, this is a bird of a different color until the public is in a position to participate again, which as mentioned could be a generation if history is a good guide. Full Story
By: Rick Ackerman, Rick's Picks - 29 December, 2009
Our initial reaction was disbelief. How, we wanted to know, do these figures account for offshore manufacturing by U.S. companies, and what is their impact on personal income? Surely the huge sums earned by service-industry financiers dwarf the earnings of manufacturing-sector employees? And, do these statistics recognize the fact that the only successful car manufacturers in America are foreign-owned? Full Story
Global gold mining supply is likely to show a small uptick for 2009, but the underlying trend continues to point lower as ore grades decline, mining costs rise, and the political barriers to new mining projects grow – both from acquisitive governments in less stable, gold-rich parts of the world, as well as from the environmental lobby. Full Story
Did they prevent the US housing market crash or the banking crisis or the stock market crash? And how solid is the recovery in 2009 if it rests on a Ponzi scheme? It is certainly a good argument for cautious diversification in asset allocation for 2010. Full Story
The technical picture for gold has brightened considerably over the past week, despite the price having continued to drop and the apparent failure of an uptrend. The reasons for this are to be found in the price action of gold itself and in what has been going on elsewhere at the same time. Full Story
Last week's update was too bearish - especially as there have been a number of positive developments this week not only in both silver and gold but also with respect to major elements having an important bearing on Precious Metal prices. Full Story
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