Red-Hot Resources

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

Saturday, March 29, 2008

Weekend Chart Action

Gold, Silver Fall in N.Y. as Oil Slides, Cuts Demand for Inflation Hedges Gold fell in New York after crude oil and other commodities declined, reducing the appeal of the precious metal as an inflation hedge. Silver also slid.
Dollar Falls Most Versus Euro Since 2006 as Traders Bet Rates Will Diverge The dollar dropped the most against the euro in more than two years as traders increased bets the Federal Reserve will cut borrowing costs further to avoid a recession while the European Central Bank holds rates steady.

OPEC Oil Supply Rose 100,000 Barrels a Day in March, PetroLogistics Says OPEC's crude-oil supply has probably increased by 100,000 barrels a day, or 0.3 percent, in March, according to preliminary estimates from PetroLogistics Ltd.

Bush Seeks Financial Regulation Overhaul The Bush administration is proposing a sweeping overhaul of the way the government regulates the nation's financial services industry from banks and securities firms to mortgage brokers and insurance companies.

The Mega Commodity Move: Why it's Happening So are commodities the new bubble? Have they replaced the real estate bubble, which replaced the tech stock bubble, as investors move from one bubble to another? It sure looks like it. But the big difference is that this metals and commodities bubble has a lot further to go. Why?
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