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Wednesday, April 23, 2008

Wednesday News Bump -- Gold, Foreclosures and More

The World Gold Council has released its Gold Investment Digest for Q1 2008. It's a mix of bullish and bearish news. Jewelry demand dropped off in the fourth quarter, investment demand is becoming a bigger and bigger force in the market, and mine supply is falling off.

Here's a chart I found interesting.You can read the full report by CLICKING HERE (registration required).

Gold is down $16 as I write this. We could see a pullback today.

Metal Inventories Scraping bottom

Krugman's Take: As far as I can see, this creates real problems for any claim that high metal prices are speculatively driven.

'Low-Price' Electric Cars Coming in 2009

Norwegian automaker Think Global said Monday it planned to sell low-priced electric cars to the masses and will introduce its first models in the U.S. by the end of next year.
The battery-powered Think City will be able to travel up to 110 miles on a single charge, with a top speed of about 65 mph, the company said. It will be priced below $25,000.

XX Here's a very interesting chart and story I found on
Calculated Risk:

California Foreclosure Activity Up Sharply in Q1

From DataQuick: The number of mortgage default notices (NODs) filed against California homeowners in Q1 2008 increased by 39% over Q4 2007, to the highest level on record. This graph shows the annual NODs filed in California since 1992. For Q1 2008, a record 113,676 NODs were filed in California, compared to 254,824 total NODs in 2007. This is more than double the 46,670 NODs filed in Q1 2007.

XX Sean's note -- I believe the technical term for that chart is "EEKS!"


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