Life is Good after a Softish Irene as Investors Buy US Equities

Alicia Badilla By Alicia Badilla, 29th Aug 2011 | Follow this author | RSS Feed | Short URL http://nut.bz/he0ilgma/
Posted in Wikinut>Money>Economics

A brief look at another up Monday of thin trading. CME Group declares Force Majeure...

Today in Trading.

By Alicia Badilla - Mon, Aug 29, 2011 7:29 PM

Force Majeure literally means "greater force"...this greater force shut down trading for heating oil as the CME Group sees the odds of trading not in their favor closing doors on all Aug 11 NY NO.2 Oil (Heating Oil Contracts).

Vermont, a landlocked state appears to have some of the worst damages from the Tropical Storm Irene. Flooding is reported to be some of the worst since 1927. The overall damages from Irene are estimated as 7 Billion of Insured and maybe another 7 Billion of uninsured. A story that some say, could have been much worse.

Bernanke sat the fence on Friday showing no certainties in additional stimulus as GDP numbers showed slightly less than what the street was expecting.

Stocks rallied today as gold closed lower. Gold for the month has risen close to 10 percent as investors appetite for asset protection remains amidst global economic uncertainty.

Some traders expect gold to continue to correct further down towards $1,600/ounce closer towards the 200 day moving average when trading volume picks up again after thin trading in London due to a public holiday and in the US because of damages from Hurricane/Tropical Storm Irene.

Sudan's Central Bank is in the process of finding contractors to build a new refinery to process the potential 70+ metric tons of gold produced there annually. They have placed a deadline on proposals for the first Sunday in September. The goal is to have the refinery fully operational within 7 years.

Concerns continue with uncertianties in Syria and Lybia.


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Tags

7 Billion, Australia, Cme Group, Flooding, Force Majeure, Gold, International, Lybia, Panama, Stock Market, Syria, Tropical Storm Irene

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author avatar Alicia Badilla
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I'm a Traveler/Writer/Investor At times I interview interesting professionals. Thank you for reading.

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Comments

author avatar Md Rezaul Karim
11th Dec 2011 (#)

Buy in dull market!

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