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October 28, 2011 / Hal (GT)

Gold steady into weekend.


Steady, but down a bit. But not a bad picture when you look at the graph for the day and see the profit taking then the short climb back to where the ExactPrice widget shows it currently at $1,745.50. Silver is at a healthy $35.21.

I wasn’t going to post anything today to the blog, but there are three items that I consider worth your time so I wanted to post them.

Save the Stock markets – destroy the Consumer <- This commentary from Trader Dan is a must read. Here’s the opening paragraph:

While money managers, talking heads and other assorted various market pundits are wildly cheering the actions of the Europeans who have agreed to a plan for papering over the Greek bond, Italian bond, Spanish bond, Portugal bond, and heaven only knows what other country’s bond problem, I cannot help but shake my head in wonder at such incredibly shortsighted “wisdom”.

Home Depot moving white-collar jobs overseas <- Hat tip to @fuTuRe_sHOcK on Twitter. It’s short. I think this kind of thing doesn’t bode well for our future:

U.S. figures show American companies have slashed labor costs by moving millions of manufacturing jobs to China. A new trend involves many companies moving higher-paying, white-collar positions overseas too. Many American corporate call centers now are in places like the Philippines and technical jobs are in India. One example is Channel 2 parent company Cox Media Group, which uses overseas call center for some customer service questions.

Silver Price Manipulation: Fact or Fantasy? <- Hat tip to @lmgross. It’s an interesting read in the sense of giving a history up to know of the battle lines.

Have a great weekend folks. I’m curious to see if gold will get above $1,750 going into the weekend. But right now I’m thinking that everyone is kind of heading out early for the weekend. Perhaps we should do the same 😉

 

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