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India’s Latest Anti-Gold Moves “Won’t Be Effective” as European Central Banks Stick, Equities BounceLondon Gold Market Report from Adrian Ash, BullionVault Thurs 6 June, 08:25 EST
India’s Latest Anti-Gold Moves “Won’t Be Effective” as European Central Banks Stick, Equities Bounce
The WHOLESALE price of gold flipped yet again either side of $1400 on Thursday in what dealers called “choppy” trade ahead of tomorrow’s much-anticipated US jobs data for May.
Asian stock markets followed Wall Street’s overnight loss to finish lower, but European equities rallied as major government bonds held [...] from Gold Money: Are the markets at long last taking central banks at their word? This would appear to be the conclusion to draw from the continuing bullish action in stocks and commodities, as well as gold and silver, though there remain any number of black swans circling overhead. The euro and Aussie dollar are gaining while the US dollar is losing ground to other currencies – sure signs of bullish sentiment. [...] When Errol Emrich drove by a Shell station in his San Jose neighborhood last weekend, regular gas was selling for $4.05 a gallon. On Monday, it was $4.15. On Tuesday, $4.25. And this weekend? Analysts say it could reach a whopping $4.40. Problems at California refineries have slashed supplies across the state, cutting fuel production and raising wholesale prices — the price stations pay for their gasoline — by as much as [...] Wolf Richter www.testosteronepit.com Slovenia joined the Eurozone in 2007, went on a borrowing binge that blind bond buyers eagerly made possible, dousing its two million people, or at least some of them, with riches, creating a real estate bubble that has since burst, and driving up its external debt by 110%. And in October, it may go bankrupt, admitted Prime Minister Janez Jansa this weekend. Because borrowing binges can last only so long if you can’t [...] Mother Nature Doesn’t Care The dust bowl or dirty thirties ran from 1930 to 1940 (chart 1). Chart 1: Spot Commodity Prices: CRB Spot Index (1947 – Present); 16-Raw Industrial Spot Price (1935-1947); Great Britain Wholesale Price of All Commodities (1885-1935) and Trend Z Scores If a comparison 2008-2020 and 1930 to 1942, specifically 2012 and 1934, both agriculturally and economically, doesn’t raise the hairs of concern, nothing will (chart 2). Chart 2: Drought’s Footprint: Mother nature don’t care if [...] by Joe Felix Salmon at Reuters has a super-clever video out where he attempts to answer the question: is gold a currency? And of course there’s no better way to answer than than to just trying to go around and buy stuff with a gram of gold. It sounds silly, but if gold is a currency, then it should be usable as a medium of exchange. Anyway, eventually he does make a purchase with gold after [...] From LewRockwell.com: … As has been widely reported recently, an unlikely crime wave has rapidly spread throughout the United States and has taken local law-enforcement officials by surprise. The theft of Tide liquid laundry detergent is pandemic throughout cities in the United States. One individual alone stole $25,000 worth of Tide detergent during a 15-month crime spree, and large retailers are taking special security measures to protect their inventories of Tide. For [...] (WSFB) A Republican state senator from Meriden says he plans to introduce legislation next month that caps one of Connecticut’s two taxes on gasoline sales. Sen. Leonard Suzio said Thursday that his bill would cap the gross receipts tax whenever the price of gas hits $3 a gallon. The gross receipts tax fluctuates when the wholesale price of gasoline fluctuates. There is a fixed 25-cent-per-gallon state tax. The gross receipts tax adds [...] COLUMBIA, S.C. (AP) — A North Myrtle Beach legislator has introduced a bill that would cap gas prices in South Carolina at whatever the average wholesale price is on June 1. Democratic state Sen. Dick Elliott of North Myrtle Beach said the bill he introduced Wednesday is needed because gas prices are slowing the state’s economic recovery. Elliott’s bill would put any excess charges by retailers [...]
(Reuters) – U.S. drivers will pay another 10 cents a gallon for gasoline before the latest jump in wholesale costs is fully passed on at the pump, and yearly motor fuel costs will rise 28 percent from last year, the Energy Department said on Wednesday. The average U.S. household will spend about $700 more for gasoline in 2011 than it spent last year, bringing total [...] It won’t be long before we’re paying $4 a gallon for regular unleaded gasoline, at least if prices keep going up at their current pace. Prices have already surged 38 cents a gallon in metro Detroit since President’s Day and likely will jump again by early next week as crude oil prices shot up nearly $3 Friday to $104.63 a barrel. While Californians are already paying $4 [...] The price of unleaded petrol rose sharply over the weekend (BBC News) The price of unleaded petrol has hit a new record average of 130p per litre, according to industry analysts Experian Catalist. Oil prices have risen about 10% in the past month due to the uprising in Libya, a major oil exporter. That has also led tour operator Thomas Cook to introduce a new fuel surcharge to the cost of its [...] by Patrick Here’s JPMorgan’s Charles Grom on this morning’s CPI: CPI Food at Home Rises, But Rate of Increase Below PPI. September’s CPI results represented the 5th consecutive month of year-over-year increases in the CPI Food at Home Index, which is an indication that food prices at retail continue to rise. To explain, this month, the YOY index rose 60 bps sequentially, from 0.8% to 1.4% – [...] |
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