Gold Coins, Bullion Sales Go ‘Gangbusters’ as AIG, Lehman Fall
By Stewart Bailey and Millie Munshi – Bloomberg
While TV camera crews staked out American International Group Inc.’s Wall Street headquarters following its takeover by the U.S. government, Jules Karp was quietly trading gold coins in “unbelievable” numbers from his basement dealership across the street.
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Gold’s Safe-Haven Status “Tested & Proven”
By Adrian Ash – GoldSeek
THE PRICE OF PHYSICAL GOLD rose to $880 an ounce early Thursday – more than $100 above Wednesday’s US opening – as world stock markets bounced on a “liquidity injection” of $242 billion from the big central banks, led by the Federal Reserve.
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AmeriGold Market Report
FXStreet
Gold posted a record one-day gain in absolute dollar terms on Wednesday, hitting a near six-week high with investors fleeing to safety as they watched the carnage on stock markets and expected further losses. Silver tracked gold higher to record its biggest one-day rise in percentage terms since 1995.
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The Case for Gold and Gold Stocks
by Rich Toscano and John Simon – SafeHaven
While we invest in many sectors and asset classes, the recent steep selloff in precious metal mining stocks inspired us to write an article focusing in on that particular sector’s long-term fundamentals. The resulting piece was emailed to clients on September 16, 2008 and is excerpted below
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The Picture Must Get Uglier Still
By Michael Pento – Safe Haven
Despite the incessant, nauseating calls for a bottom in real estate and banks, financial firms now find themselves in their most vulnerable conditions since the credit crisis began last summer. Just this week alone we were given three data points that help underscore just how precarious a situation these companies are in.
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INVESTING IN CHAOS
THE STORM IS HERE
by Darryl Robert Schoon – Gold Eagle
Last weekend started early for Timothy Geithner, President and CEO of the New York Federal Reserve. At 6 pm, Friday, Geithner called an emergency meeting to discuss the possible collapse of Wall Street investment bank, Lehman Bros.
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Game Changer: Buy Gold Now!
By: Kurt Kasun – Gold Eagle
There could be heroes that emerge in the market tumult, but I urge you not to try to be one of them.
Financial markets around the world are now fraught with uncertainty and fragility. The cemetery of those who have lost their shirts trying to call “the bottom” is rapidly running out of vacant grave sites.
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Gold extends gains after central banks’ move
By Risa Maeda – Money
Gold rose on Thursday after a coordinated effort by central banks to stabilise the dollar, consolidating bullion’s biggest-ever one-day rise the previous day and ensuring its status as a safe-haven asset was intact.
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