The Run-Up Continues
September 11, 2007
Gold drifted higher on Tuesday and held within sight of a 16-month high, aided by a weaker dollar and speculation about a cut in U.S. interest rates. Gold rose as high as $705.10 an ounce. The metal hit its highest since mid-May 2006 at $707.10 on Friday against the backdrop of renewed concerns about the strength of the U.S. economy and a weaker dollar. Gold rose to a 26-year high of $730 in May last year.
“The market is positioned for another move on the upside. More importantly, I don’t think the market was over-extended when we went through $700. So we have still got the capacity to build on long positions,” David Holmes, director of precious metals sales at Dresdner Kleinwort Investment Bank, said.
“And we are entering into the Diwali season (Indian festival) and we still have some credit concerns. I would be looking for gold to consolidate above $700 and then make progressive moves up towards $710, then $720 and then try to get through the $735 level,” he said.
The festival season in India, the world’s largest gold consumer, peaks in early November with Diwali — the festival of lights. Gold is considered an auspicious metal in the country and buying surges during the period. We shall see!
Gold closed up another $9 on Tuesday. 
Monday: Military Vs. Democrats
September 9, 2007
Congress is expected this week to pick apart U.S. military data suggesting attacks and civilian casualties in Baghdad have sharply decreased in recent months. Gen. David Petraeus, the top U.S. military commander in Iraq, is scheduled to testify before Congress beginning Monday, and he is expected to tell lawmakers the troop buildup is producing results. Continue Reading »
Forbes Thinks Bloomberg Too
September 9, 2007
US publisher Steve Forbes predicted Sunday that Democrat Hillary Clinton will be one of three candidates vying to be the next US president. The editor-in-chief of Forbes business magazine tipped the former first lady, already a front-runner according to national polls, to win the 2008 Democratic presidential nomination. “Even though the media will try to portray it as a race, I believe that Hillary Clinton is going to win it,” Forbes, who campaigned for the Republican nomination for US presidency in 1996 and 2000, said at a business lunch in Singapore. Continue Reading »
Exercise Good Manners
September 9, 2007
“I don’t recall your name, but your manners are familiar.” Oliver Herford
When was the last time you opened the door for a fellow employee? When’s the last time you pulled out a chair at a restaurant for a woman, your wife! When’s the last time you offered something to someone else before you took it? The answer probably coincides with your last raise. PROMOTIONS come when there is a demonstration of grace and servanthood to others. Grace is more than a gift of God, it is a show of character from one to another. Continue Reading »
Houston Changes Arrest policy
September 8, 2007
The Harris County Sheriff’s Office has stopped issuing “non-arrest” bonds to illegal immigrants, closing what victim advocates called a loophole that allowed some suspects to dodge deportation. The new policy was implemented on Aug. 22, the same day the Houston Chronicle published a story on Juan Felix Salinas, an illegal immigrant accused of causing a crash that killed three people while he was free on a non-arrest bond. Continue Reading »
The Bear Is Still Here!
September 7, 2007
I’m not talking the natural animal with big teeth and claws, but the metaphorical bear that Wall Street doesn’t like. The announcement that job growth of an expected 100,000 for August missed wasn’t good news. The fact that it missed by more than 100,000 and in fact we saw negative job growth (-4,000), took the disguise off the bull, and revealed the bear was still here. Continue Reading »
Pushing Past $700!
September 7, 2007
The last three days has seen gold up more than $25 an ounce. No one knows where it will settle today as I write early in the morning; however, gold stands at $712 currently. The latest report on unemployment that showed a payroll DECREASE of 4,000 for August has the market even more nervous. Friday could be a bad day for stocks- again !
Interest rates will have to be reduced which is putting more pressure on the US$. And since gold goes the opposite way of the US$ that puts more leverage in the hand of the gold bugs.
Then there’s bin Laden, there’s the 9-11 anniversary, there’s Israel flying jets in Syrain territory, and there’s the nuclear issue in Iran. ALL of this will keep gold bright!
The market is optimistic physical demand for the metal will firm going into the seasonally strong fourth quarter, while recent turmoil in the financial markets has increased its appeal as a safe haven asset for speculative investors. “People were looking for cash, but now people are looking for a safe haven for money. They are not happy with currencies, they are not happy with the banks, so gold is providing them with that opportunity,” said Simon Weeks, an analyst at Scotia Mocatta.
Slowly Bring Them Home!
September 4, 2007
All the politicians are gathering back in our nations capitol. That’s not always a good thing. Let the bickering and trashing of the “other side” heat up once more. And of course the biggest order of the day, at the top of the agenda is Iraq: troop withdrawal. Next week General Patraeus will take the hot seat before Congress with each politician not wanting to ask “information” of the General, but to state their opinion- which is worthless when it comes to the war and strategies. The Bush visit to Iraq this past week and his hint of a reduction in troops is, I think, getting ahead of the Democrats and taking some steam out of their boiler. Continue Reading »
Come On Across!
September 4, 2007
If both legal and illegal immigration continues at its current pace, the U.S. population will grow by 1.25 million per year and reach a net total of 468 million by 2060, according to a report issued Thursday by a Washington think tank. And like who among us plan on being here then? That increase of 167 million people over the next 53 years “is equal to the combined populations of Great Britain, France and Spain,” said Steven Camarota, director of research at the Center for Immigration Studies (CIS), during a news conference at the National Press Club. Continue Reading »
The Hugo Hangover
September 3, 2007
Most of the American politicians are wondering is Bush will take out Iran’s nuclear capability before he leaves office or not. I’m clear on it. He will! But the real question down the road a few years is not Ahmadinajhad, but Hugo as in Chavez, as in just South of us, as in Venezuela! Both men have some of the highest ego traits of anyone we’ve seen since Saddam Hussein. As with all men with such power passions, no good comes to those that oppose them. Continue Reading »
Fighting For Mexico
September 2, 2007
President Felipe Calderon blasted U.S. immigration policies policies on Sunday and promised to fight harder to protect the rights of Mexicans in the U.S., saying “Mexico does not end at its borders.” The criticism earned Calderon a standing ovation during his first state-of-the nation address. “We strongly protest the unilateral measures taken by the U.S. Congress and government that have only persecuted and exacerbated the mistreatment of Mexican undocumented workers,” he said. “The insensitivity toward those who support the U.S. economy and society has only served as an impetus to reinforce the battle … for their rights.” Continue Reading »
The GOP in 2008- Today
September 2, 2007
A Senate electoral playing field that was already wide open for 2008 has become considerably more perilous for Republicans with the retirement of Sen. John W. Warner (R-Va.) and the resignation of scandal-scarred Sen. Larry E. Craig (R-Idaho). Republicans need a net gain of just one seat to take back control of the Senate, but they have 22 seats to defend, and campaign cash is conspicuously lacking. Warner’s retirement raised to two the number of open Republican seats, and both of them — in Virginia and Colorado — are prime targets for Democrats. Continue Reading »
Be Flexible & Balanced
September 1, 2007
“When a man doesn’t have a good reason for doing a thing, he
has one good reason for leaving it alone.” Sir Walter Scott
The two words may not seem to fit as hand in glove but look at it from this angle. All those who walk the high wires have to be able to sway, weave, and maneuver with the vibrations of the wire. If he is not flexible, he will surely fall. We too will fall, lose our jobs, or not get a promotion if we’re not able to “roll with the proverbial punches.” Work changes, life changes, and if we do not change, we will become fossilized and buried, to be found somewhere down the road in time.
“The more it changes, the more it is the same.” French Proverb Continue Reading »
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