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Gold and silver have staged a decent comeback over the last couple of days, with gold up by around $40 since Wednesday, while silver yesterday recorded its strongest one-day price gain for 15 months – gaining more than a dollar per ounce. Industrial commodities have also enjoyed gains over the last few days, while the dollar ...
Wednesday afternoon’s Q4 US GDP number was a shock for markets, though less surprising to those of you familiar with our views. Falling business inventories, reduced exports and a 22.5% quarterly drop in defence spending pushing the GDP change into negative territory (-0.1%) for the first time since the country emerged (technically) ...
Contributors to this site have frequent cause to comment on the misleading nature of GDP as a means of measuring the economic growth and well being of a country. The last batch of GDP figures for the United States proves this point in spades. The data showed that the economy grew at a 2% annualised pace between July and September. While ...
A sense of trepidation looms as residents on the northeastern US coast batten down the hatches in preparation for Hurricane Sandy. With storm surges expected to run at five to nine feet, low lying areas of New York City are being evacuated. US equity markets are closed for the day, as is the Nymex. Combine this with the looming US ...
Another day, and yet another rise in Spanish bond yields. Madrid’s sovereign debt all the way down to two-year maturity is now trading above 7% – the first time this has happened to two-year borrowing rates since 1996. Italian yields are not far behind. The Spanish government denies that its about to request a €300 ...
Commodities managed a rally on Friday following the release of “inline” Chinese economic data and a decline in the US dollar. China’s economy grew at 7.6% rate during Q2, compared with the 8.1% rate seen during Q1. A notable decline, but one crucially that had been predicted in consensus estimates by economists, meaning ...
The assessment of economic growth based on Gross Domestic Product is a fallacy, because GDP is merely a measure of the amount of money in an economy. The one thing it does not measure, which is central to economic progress (note progress, not growth), is the level of entrepreneurial activity. This has important implications for the ...
Gold had another decent day on Friday, rallying up from support at $1,550 to just shy of $1,575. Silver, platinum and palladium also rallied, somewhat surprisingly given that commodities and shares struggled (the Dow falling 0.6%) while US 10-Year Note fell by 4 basis points to 1.74% following news that the Spanish government’s ...
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Gold:Gold Buy Rates |
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Silver:Silver Buy Rates |
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Platinum:Platinum Buy Rates |
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