Red-Hot Resources

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Monday, May 14, 2007

News You Can Use for Monday

Does Canary In U.S. Economy Nest in Florida? If the housing-market shakeout has an epicenter, it probably lies in Florida. For companies with business tied closely to the state, that is a problem.
IEA Says OPEC Must Raise Output to Meet Summer Oil Demand. US gasoline inventories hitting a 16-year-low is just the beginning of the story.

Pakistani Soldiers Ordered to Shoot Karachi Rioters on Sight During Strike Thousands of paramilitary soldiers have been deployed in Pakistan's financial capital, Karachi, with orders to shoot rioters on sight, as shops and businesses were closed as part of a nationwide strike called by opposition parties.

Uranium May Rise to $250 a Pound Next Year on Nuclear Demand, SXR Says Uranium may more than double to $250 a pound next year as demand for the nuclear fuel outpaces production, according to SXR Uranium One Inc.

Tokyo gold recovers, platinum hits record TOKYO, May 14 (Reuters) - Tokyo gold futures rose on Monday, snapping a four-day losing streak, while platinum futures hit a record high ahead of a supply and demand report. Analysts said a rise in the dollar above 120 yen and a rebound in U.S. stocks late last week helped stop further selling in yen-based gold futures, and instead, encouraged those who had gone short in the past sessions to unwind their positions. [XX Sean’s note – it’s interesting how the US dollar and gold are moving up at the same time]

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