Gold Prices May Spike
Within the gold complex, there is a disparity between the paper market and the physical market, notes Jurg Kiener, CEO of Swiss Asia Capital. He tells CNBC’s Maura Fogarty & Rebecca Meehan that if the paper market collapses, gold prices may double very quickly.
S&P, Euro, Gold to Fall Further
More downside for the S&P 500 index, at least for the short term; further weakening for the euro, all the way down to $1.30 and possibly lower; and gold could drop back toward $750 before rallying towards $1,400, Robin Griffiths from Cazenove Capital said Monday.
Royal Canadian Mint under ‘strain’ to meet demand for gold
WASHINGTON – The administration has selected a former Goldman Sachs executive to be the interim head of its $700 billion rescue effort for financial institutions.
Wall Street tumbled again Monday, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded more than 500 points and fell below 10,000 for the first time in four years, while the credit markets remained under strain.
Fed May See Companies, States as Next Crisis Fronts
Scott Lanman and John Brinsley
October 6, 2008
Federal Reserve Chairman Ben S. Bernanke may find the next fronts of the financial crisis to be just as chilling as last month’s downfall of Wall Street titans: its spread to corporate America and state and local governments.