Red-Hot Resources

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Monday, July 16, 2007

Red-Hot Charts for Monday

Here are some charts with news stories about each ...Gold Trades in Asia Near a One-Month High on Dollar's Decline July 16 (Bloomberg) -- Gold traded near a one-month high in Asia as the dollar's decline boosted demand for the metal as an alternative investment. Silver gained. The dollar traded near a record low against the euro today before U.S. reports on inflation and housing. Gold generally moves in the opposite direction of the U.S. currency.

Qatar builds gold reserves Qatar central bank's gold holdings more than quadrupled between January and the end of April 2007, Gulf Daily News reported. Qatar held $193.1m of gold at the end of April, equal to about nine tonnes at market prices. The central bank could be increasing its holdings to hedge against a weak dollar, according to a Standard Chartered analyst. Qatar's currency is pegged to US dollar.

Brent Crude Oil Rises Above $78 a Barrel, Reaching 11-Month High in London Brent crude-oil futures traded above $78 a barrel in London for the first time since Aug. 9 as maintenance shutdowns limited North Sea supplies.

Gasoline Prices May Hold Their Gains Rising retail gasoline prices in most U.S. regions could hold their gains for a while, even after the problems that caused the run-up have been resolved. The national average retail price of regular gasoline jumped 9.2 cents to $3.054 in the last week, the biggest one-week gain since regular gasoline peaked above $3.20 a gallon in May. Oil-refinery problems in the last two weeks have tightened gasoline supplies during the summer driving season, when Americans cover more miles than any other time of year.

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