Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Monday, February 25, 2008

Monday Is Chart Day

Is gold going higher? Well …

Gold Fields May Eliminate 6,900 Jobs as Power Shortages Reduce Production Gold Fields Ltd., Africa's second- biggest gold producer, will eliminate as many as 6,900 jobs, or 13 percent of its South African workforce, as the state-run utility fails to provide enough power for the company's mines.

As Commodities Soar, How Should Investors Bet on Stagflation? With few exceptions, commodities are rallying again, breaking records and keeping inflation pressures on the boil. For investors, the resurgence in commodity prices has made for excitement and relief from an otherwise gloomy financial market. The Reuters/Jefferies CRB Index, which tracks a broad range of commodities, has surged 11% year to date, pushing through new record highs. By contrast, the S&P 500 Index (SPX), measuring blue-chip stocks, is down 8% in the same period.

Copper Trades Near Two-Year High on LME on Supply Speculation; Tin Rallies Copper traded near a two-year record in London on speculation that supply disruptions will drive prices higher. Tin rose to the highest since at least 1989.

OPEC May Agree to Cut Production Next Month as Demand Slips, Khelil Says Organization of Petroleum Exporting Countries President Chakib Khelil said he expects oil demand to decrease in the second quarter and that the group may agree to cut production at its next meeting.

News You Can Use ...

Bernanke, Bush Fail to Build Stronger Economy With Rate Cut, Stimulus Plan Even if Ben S. Bernanke, George W. Bush and Congress win the battle to avert a recession this year, they risk losing the war to strengthen the economy for the long term.

Auction-Rate Bond Failures Saddle States, Cities With `Predatory' Yields U.S. municipal borrowers from Camden, New Jersey, to Sacramento, California, may face a third week of higher interest costs as failures in the auction-rate bond market persist.

Honda Aims to Boost India Sales 32% Next Year on Plant Expansion, Economy India's passenger car market has doubled in the past five years and may further triple to 3 million vehicles a year by 2015, according to government estimates.

Northern China's Dry Winter May Harm Spring Grain Planting, Xinhua Reports China's northern grain-growing regions have received little snow and rain this winter, and the reduced soil moisture may harm the planting of crops in the spring, the official Xinhua News Agency reported.

Soybeans, Soybean Oil Rise to Records in Chicago on Demand; Corn, Wheat Up Soybean and soybean oil prices in Chicago surged on speculation that global demand for food, animal feed and biofuels will exceed production this year. Corn also reached its highest ever, and wheat surged.

2 New Commodity ETFs Debut Last week, Lehman Brothers listed Opta Lehman Brothers Commodity Index Pure Beta Total Return ETN (RAW) and Opta LBCI Pure Beta Agriculture Total Return ETN (EOH) the broad commodities ETN provides exposure to energy, metals, agriculture and livestock. The agriculture note follows grains such as corn, soybeans and wheat, as well as "soft" commodities like coffee, cotton and sugar.

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