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Commodities Briefing - Archive | October, 2010

NZ won’t join an ‘Opec’ for milk producers - Fonterra

Posted on 26 October 2010 by VRS  |  Email |Print

From Nbr.co.nz: The world’s biggest dairy exporter, Fonterra, says it wouldn’t consider the kind of Opec-style industry grouping which the Irish Dairy Board has been urged to set up globally to represent milk producers.
“Cartels are illegal - we cannot co-operate with other sellers on price,” said a spokesman for Fonterra, which sells nearly 40 percent of the world’s internationally-traded milk……………………………………….Full Article: Source

Goldman says Fed faces $4 trillion hole

Posted on 26 October 2010 by VRS  |  Email |Print

From CNN: Economists at Goldman Sachs estimate the Federal Reserve may need to buy a staggering $4 trillion worth of assets such as Treasury securities to get the economy rolling again. The Goldman economists, Jan Hatzius and Sven Jari Stehn, don’t expect the Federal Reserve to go nearly that far when it resumes its asset-purchasing quantitative easing policy.
Citing many officials’ unease with the prospect of adding significantly to the Fed’s already bloated balance sheet, Goldman expects the Fed to end up buying around $2 trillion worth of assets over the next few years……………………………………….Full Article: Source

Emerging market funds suck in almost $6 bln in week

Posted on 25 October 2010 by VRS  |  Email |Print

From Indiatimes.com: Investors poured another $5.8 billion into emerging market funds in the third week of October, with global emerging market equity funds seeing record inflows for the second time in three weeks, fund tracker EPFR said.
Investors also committed $1.4 billion to emerging market bond funds in the week as they sought shelter from the falling US dollar and looked for higher yields elsewhere, EPFR said……………………………………….Full Article: Source

China’s massive commodities appetite moves markets

Posted on 25 October 2010 by VRS  |  Email |Print

From AFP: China, the world’s second largest economy and its number one energy consumer, is shaking up global commodities markets where its potent growth momentum is also powering a rise in metals prices.
“China is now the largest energy consumer by our definition,” Nobuo Tanaka, head of the International Energy Agency, said recently……………………………………….Full Article: Source

Rising demand in China and dollar devaluations is driving up commodity prices

Posted on 25 October 2010 by VRS  |  Email |Print

From WSJ : China, the world’s second largest economy and the number one energy consumer in the world, is driving up global commodities prices. Markets will se rise in oil, natural gas and metals prices.
Oil demand increase worldwide comes most from China. China is making priority to invest in energy, food and metals. Copper prices recently rose to the levels that prevailed before the 2008 financial crisis while prices for tin hit record highs……………………………………….Full Article: Source

G20 nod to FX may help risk assets but Fed still key

Posted on 25 October 2010 by VRS  |  Email |Print

From Reuters: Copper, oil and other growth-linked commodities may benefit this week from the G20’s hardened stance towards exchange rates, but anticipation of more U.S. policy easing is likely to remain in the spotlight.
The Group of 20 major economies agreed on Saturday to shun competitive currency devaluations but stopped short of setting targets to reduce trade imbalances that are clouding global growth prospects……………………………………….Full Article: Source

Dollar slides, commodities rise after G20

Posted on 25 October 2010 by VRS  |  Email |Print

From Reuters: The dollar slid against yen and other Asian currencies on Monday after a Group of 20 meeting produced enough agreement to keep a status quo trade of selling the U.S. currency and buying equities and commodities such as gold.
While the international meeting did not reach a consensus on details such as numerical targets for a country’s economic imbalances, the G20 found common ground on the need for more “market oriented” exchange rates and concluded with a shift in power to developing economies in the International Monetary Fund — enough to avert an all-out currency war, for now……………………………………….Full Article: Source

Currency war averted for now

Posted on 25 October 2010 by VRS  |  Email |Print

From Sfgate.com: The world stepped back from the brink of a currency war Saturday when the world’s rich nations agreed to keep from weakening their currencies in order to gain competitive advantage.
Despite finger-pointing at China, warnings of a destructive currency war from Brazil and reluctance displayed by export giant Germany, an ugly trade fight was avoided. Now, back to the work of healing the global economy……………………………………….Full Article: Source

G20 sets stage for currency accord

Posted on 25 October 2010 by VRS  |  Email |Print

From Ctv.ca: The burden of hosting Group of 20 meetings comes with the privilege of having the first opportunity to spin the results. South Korea’s Finance Minister Yoon Jeung-Hyun, who was thrust into presiding over the equivalent of a peace conference to calm tensions over currency policy, took advantage of having the first word to declare the conflict over.
“We have come to an end to the disputes over exchange rates,” Mr. Yoon said Saturday after a meeting of economic ministers and central bankers……………………………………….Full Article: Source

Ruble trading corridor just a ‘mirage’

Posted on 25 October 2010 by VRS  |  Email |Print

From Themoscowtimes.com: The ruble’s trading corridor is a “mirage” as the Central Bank widens the band and pushes the currency closer to a free float, HSBC said Friday. The Central Bank has widened the ruble’s so-called “floating corridor” against its target dollar-euro basket twice since Oct. 13, according to statements from central bankers Alexei Ulyukayev and Sergei Shvetsov.
Policymakers have used the basket since 2005 to manage the ruble by buying and selling foreign currency on the market. The bank has pledged to reduce its interventions and free float the currency by 2012, bringing the ruble into line with other commodity producers like Australia, Brazil and South Africa……………………………………….Full Article: Source

Oil could hit $100 a barrel soon, JP Morgan predicts

Posted on 25 October 2010 by VRS  |  Email |Print

From Guardian: Chinese demand could push crude to $100 a barrel soon, according to JP Morgan, with the weaker dollar and restocking of French oil inventories once strikes end also helping to drive up oil prices.
China’s economy was quick to recover from the global downturn and has been growing at a spectactular pace, resulting in rampant demand for oil. Growth has slowed slightly to an annual rate of 9.6% in the third quarter from 10.3% in the second……………………………………….Full Article: Source

Iran says ready to host OPEC summit next year

Posted on 25 October 2010 by VRS  |  Email |Print

From ISNA: Iran declares readiness to host the Organization of Petroleum Exporting Countries (OPEC) summit next year. Iran is to declare readiness to convene the OPEC summit at the upcoming ministerial meeting to be held in Qatar on December 2, Iranian OPEC Governor Mohammad Ali Khatibi told ISNA.
OPEC member states last met in March in Algeria where they agreed to hold a summit……………………………………….Full Article: Source

If you believe in gold, invest in silver

Posted on 25 October 2010 by VRS  |  Email |Print

From Citywire.co.uk: The case for investing in silver rather than gold has been made for decades - mainly in the US where silver investors seem to have formed a powerful lobby group - but now there are signs that silver might be catching on in the UK.
Investor interest in silver has accelerated over the last five weeks according to BullionVault, the UK’s biggest online provider of physical gold and silver accounts……………………………………….Full Article: Source

Advisers try to tame investors’ appetite for gold

Posted on 25 October 2010 by VRS  |  Email |Print

From WSJ: As individual investors hop on the gold bandwagon, financial advisers are finding themselves in an all-too-familiar role: that of mom and dad slapping hands away from the cookie jar. The precious metal has enjoyed a long run-up, gaining about 25% in the past year and consistently making headlines with records pushing ever higher.
Also fueling the buying binge is a number of big-name investors like Paulson & Co.’s John Paulson. Gold prices stood at $1,324.40 a troy ounce Friday……………………………………….Full Article: Source

Gold’s downside still limited and upside potential great - Nichols

Posted on 25 October 2010 by VRS  |  Email |Print

From Mineweb.co.za: Having reached an all-time high of US$1,387.35 an ounce on October 14th, some run-of-the-mill profit taking by short-term traders and institutional speculators on world futures markets triggered last week’s swift downward correction in the yellow metal’s price.
Then, this Monday’s surprise announcement by the People’s Bank of China that it would soon raise short-term interest rates to combat domestic inflation knocked the price still lower — not so much because there was more selling but because many buyers paused to reassess the metal’s short-term prospects……………………………………….Full Article: Source

China protecting strategic interests with rare earths policy

Posted on 25 October 2010 by VRS  |  Email |Print

From AFP: China’s restrictions on exports of rare earths are aimed at maximising profit, strengthening its homegrown high-tech companies and forcing other nations to help sustain global supply, experts say.
China last year produced 97 percent of the global supply of rare earths — a group of 17 elements used in high-tech products ranging from flat-screen televisions to iPods to hybrid cars — but is home to just a third of reserves……………………………………….Full Article: Source

Pundits have copper in short supply from next year

Posted on 25 October 2010 by VRS  |  Email |Print

From Mineweb.co.za: Copper’s talking up a storm. Sumitomo Metal Mining Co. said copper ore mined from Chile, and shipped to Indonesia, will be in short supply for at least the next five years. Antofagasta Plc, which owns three Chilean mines, said a scarcity will persist for “the foreseeable future.”
BHP Billiton Ltd. said production from Escondida in Chile, the world’s biggest copper mine, will drop as much as 10 percent in 2011because of lower ore grades……………………………………….Full Article: Source

A precious metals ETF basket with fixed ounce weightings

Posted on 25 October 2010 by VRS  |  Email |Print

From Seekingalpha.com: ETF Securities launched the ETFS Precious Metals Basket Shares (GLTR) on Friay, making it the first US-listed physically backed precious metal basket ETF to hold gold, silver, platinum, and palladium.
GLTR’s objective is to provide one-stop shopping for investors seeking to hold all four metals with specific fixed weightings. The fund’s prospectus contains no provision to alter or rebalance the holdings……………………………………….Full Article: Source

Singapore Exchange offering $8.3 bln to buy ASX

Posted on 25 October 2010 by VRS  |  Email |Print

From Bloomberg: Singapore Exchange Ltd. is offering cash and stock worth A$8.4 billion ($8.3 billion) to buy ASX Ltd., Australia’s main stock exchange operator, the companies said today.
Singapore Exchange will offer A$48 per ASX share, the companies said at press briefings in Sydney and Singapore. ASX shareholders will receive A$22 cash and 3.473 new shares in Singapore Exchange for every share they hold in the Australian bourse operator, the exchanges said……………………………………….Full Article: Source

Calculating commitment to the climate

Posted on 25 October 2010 by VRS  |  Email |Print

From Nytimes.com: There was a surge of optimism at the Copenhagen climate conference, when the U.S. secretary of state, Hillary Rodham Clinton, backed an international aid package worth hundreds of billions of dollars to help poor countries counter threats like rising seas and desertification.
The surprise announcement by the United States to join the European Union and other wealthy nations in making the pledges represented a singular moment of global cohesion during an event remembered more for its unremitting acrimony……………………………………….Full Article: Source

USA - Media manipulating the grain market

Posted on 25 October 2010 by VRS  |  Email |Print

From Meattradenewsdaily.co.uk: Fears of a global food crisis swept the world’s commodity markets as prices for staples such as corn, rice and wheat spiralled after the US government warned of “dramatically” lower supplies.
An especially hot summer in the US, droughts in countries including Russia and Brazil and heavy rain in Canada and Europe have hit many grain and oilseed crops this year……………………………………….Full Article: Source

Hot commodities, the place to be invested

Posted on 25 October 2010 by VRS  |  Email |Print

From Marketoracle.co.uk: As one watches the day to day advice on CNBC, you will notice that we are inundated with stock advice. Bank of America this, Goldman Sachs that, and of course Apple Computer will run the world shortly. But when it comes to commodities, they are rarely explored with the exception of gold, copper and oil.
Granted, there have been some great single stock performances over the last 12 months, but as a whole the S&P has grossly underperformed most commodities……………………………………….Full Article: Source

How to smell a bubble bursting (Commodities this time)

Posted on 25 October 2010 by VRS  |  Email |Print

From Barrons.com: Stifel Nicolaus analyst Barry Bannister offers some interesting thoughts about market bubbles, after admitting that he’s learned some lessons from being wrong maintaining a Sell rating on shares of Caterpillar (CAT) in the last 12 months.
The stock is up 33% in that time, handily beating the S&P’s 8% or so return, so clearly Bannister hasn’t made anyone much money with that call……………………………………….Full Article: Source

5 metals that may be brighter than gold

Posted on 22 October 2010 by VRS  |  Email |Print

From Sfgate.com: Gold tends to be all the rage in times of economic uncertainty. Investors flock to the “yellow metal” when things go sour because they see it as a safe haven for their money until they feel better about venturing back into things they view as riskier, like common stocks and real estate.
Such a strategy can actually be very dangerous, though. When gold or any other investment becomes too popular, it raises the risk of a “bubble” - unsustainably high prices that could suddenly plummet, losing investors a lot of money very quickly……………………………………….Full Article: Source

How speculators are crippling the copper industry

Posted on 22 October 2010 by VRS  |  Email |Print

From Spiegel.de: Hedge funds and other major investors are always looking for new places to park their cash. Now copper is attracting the hot money, causing the price of the metal to fluctuate wildly. Key industries are warning of the consequences.
In northern Chile, on the high plateau of the bone-dry Atacama Desert, machines have cut a giant hole in the Earth’s crust. The crater is three kilometers (1.9 miles) wide and almost 1,000 meters (3,280 feet) deep. It grows larger every day. And as it grows, the Chilean state becomes wealthier……………………………………….Full Article: Source

Is the copper bull run over?

Posted on 22 October 2010 by VRS  |  Email |Print

From Commodityonline.com: Copper is one of the main indicator for the global economy’s health.If copper consumption is up that means the global economy is growing and the manufacturing sector is also roaring.
The Dow Jones-UBS copper index entered an area of resistance after a long rally this week. The area of resistance is in the range of 410 to 450 and the index closed last Monday at 416……………………………………….Full Article: Source

Base metals markets significantly stronger now than last year - Metal Bulletin

Posted on 22 October 2010 by VRS  |  Email |Print

From Mineweb.co.za: The Managing Director of the Metal Bulletin, Raju Daswani, says “the fundamentals of most base metals markets are significantly stronger than they were at any point last year, with copper and tin particularly tight.”
In a recent presentation, Daswani advised, “These markets have already returned to supply deficits, as has nickel - lead will join them in deficit in 2011.” With a global copper supply deficit forecast for both 2011 and 2012, Daswani predicted copper prices “will remain on a broad upward trend. For 2011 our price forecast is $7,900/tonne compared to our 2010 forecast of $7,375.”………………………………………Full Article: Source

Bring on the rare earth wars

Posted on 22 October 2010 by VRS  |  Email |Print

From Resourceinvestor.com: As China controls 97% of the world’s rare earth production, and consumers are desperate to lock in supplies so they can build everything from hybrid cars to IPods to heat seeking missiles, you can expect to hear a lot more about this space. I have already seen the odd story showing up in the mainstream media.
Not only that, in the future I expect to see similar developments across the entire resource space, including precious metals, copper, iron ore, molybdenum, tin, nickel, aluminum, and all of the food groups. We are on the eve of the era of The Great Resource Shortage……………………………………….Full Article: Source

World crude steel production marginally up in Sept

Posted on 22 October 2010 by VRS  |  Email |Print

From Commodityonline.com: World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 112 million metric tons (mmt) in September. This is 0.9% higher than September 2009. China’s crude steel production for September 2010 was 47.9 mmt, a decrease of -5.9% compared to September 2009.
Elsewhere in Asia, Japan produced 9.2 mmt of crude steel in September 2010, up 11.7% compared to the same month last year. South Korea’s crude steel production for September 2010 was 4.7 mmt, 3.2% up compared to the same month last year……………………………………….Full Article: Source

China steel demand growth to slow down from 2011

Posted on 22 October 2010 by VRS  |  Email |Print

From Hellenicshippingnews.com: Citi Investment Research & Analysis said in a report citing a senior industry official that Chinese steel demand growth will slow to a single digit percentage rate starting from next year Mr Zhou Guocheng former deputy secretary general of the China Iron & Steel Association said that Chinese steel sector will post average annual output increases of 20 million tonnes to 30 million tonnes for the next five years.
By the end of 2015, China is expected to be able to roll out 730 million tonnes of crude steel while its demand growth will slow from a double digit percent rate to mid single digits from the beginning of the 12th five year plan……………………………………….Full Article: Source

Nickel’s extraordinary comeback

Posted on 22 October 2010 by VRS  |  Email |Print

From Mineweb.co.za: Investors once again flock to the prince of base metals: are they like rabbits in the headlights? In terms of price volatility, nickel (most of which is used in producing stainless steel) ranks as one of the most dangerous minerals of all. Go back five years, and nickel roared up from around USD 5.00/lb to a peak of nearly USD 25.00/lb in 2007.
Then it crashed back to about USD 5.00/lb during the great commodities wipeout of 2008. Today the price is trading around USD 10.65/lb……………………………………….Full Article: Source

Want to invest in gold? You have options

Posted on 22 October 2010 by VRS  |  Email |Print

From Usatoday.com: Gold has soared more than 400% since its low of $255.95 on April 2, 2001, driven by fears of inflation and the declining value of the dollar on the global currency markets. If you want to invest in gold, you have several choices: collectible gold coins, gold bullion, gold-mining stocks, gold mutual funds and gold exchange traded funds.
Which is best? It depends on how much money you have, how long you plan to hold your investment, and why you’re investing in the yellow metal. Here, then, is a rundown of your many options in buying gold……………………………………….Full Article: Source

‘White gold’ in high demand this season, cheaper in Asia

Posted on 22 October 2010 by VRS  |  Email |Print

From Independent: Economic woes have not lessoned the demand for the swine sniffing white truffles from Alba, Italy as well as parts of Croatia and France. The ‘white gold’ peak season begins at the end of October with an expected price tag of €4,300 per kilogram.
According to Singapore’s news source The Sunday Times, “White truffles are cheaper this year, by as much as 40 per cent compared to last year’s peak prices.”………………………………………Full Article: Source

Silver’s fortunes favour the brave, but buyer beware

Posted on 22 October 2010 by VRS  |  Email |Print

From Arabianbusiness.com: Bullion investors may be rightly impressed by silver’s outperformance of gold this year, but they would be well advised to be wary of seeing the precious metal purely as a cheaper proxy for its yellow cousin.
While gold has grabbed headlines this year with its rally to record highs above $1,385 an ounce, silver has quietly outpaced those gains. A $100 investment in silver on January 1 would now be worth around $146, versus a gold investment’s $126……………………………………….Full Article: Source

Silver fever grips investors

Posted on 22 October 2010 by VRS  |  Email |Print

From Commodityonline.com: Silver, the shining start among precious metals, has already set a 30-year record and the silver exchange traded funds (ETFs) also posted big gains in the recent past.
To add to that, silver prices could go even higher than what they are now. Primarily driving the price now is safe-haven buying, driven by beliefs that governments around the world will enact more stimulus and weaken their currencies. There also may be less of the metal to go around here, too……………………………………….Full Article: Source

Opec says $90 is fair price for oil

Posted on 22 October 2010 by VRS  |  Email |Print

From Emirates247.com: The current level of oil prices is fair and it will remain so even if they reach $90 a barrel, Opec’s secretary general was quoted on Thursday as saying. Abdullah Al Badri said the 12-nation Organisation of Petroleum Exporting Countries, which controls over 70 per cent of the world’s oil, can still influence the market but he added it was not to blame for the recent surge in crude prices.
“Oil prices are not high at present…prices are hovering between $75 and $85 a barrel, which is a reasonable price for producers and acceptable for consuming countries,” Badri told the Saudi Arabic language daily Okaz……………………………………….Full Article: Source

Rising oil prices are a warning

Posted on 22 October 2010 by VRS  |  Email |Print

From Ibtimes.com: Within two weeks we will know for sure if the US Federal Reserve is prepared to flood the market with further stimulus in the form of quantitative easing (QE). As current betting goes, it’s odds-on that it is.
Although there are a significant number of Fed members who have doubts about further monetisation, both Ben Bernanke and William Dudley, FOMC chairman and vice-chairman respectively, sound firmly in favour, and history suggests that they will take the majority with them……………………………………….Full Article: Source

IMF lowers oil production forecast for Iraq

Posted on 22 October 2010 by VRS  |  Email |Print

From AFP: The International Monetary Fund Wednesday said it has lowered Iraq’s oil production forecast, after a disappointing 2010.
In its first review report of its February 3.7 billion dollar standby loan to Iraq, the IMF said it expected Iraqi oil production to reach 2.2 million barrels per day (bpd) in 2011, against the 2.9 million it forecast in February……………………………………….Full Article: Source

U.S. money fund rule proposals seen wide ranging

Posted on 22 October 2010 by VRS  |  Email |Print

From Reuters: U.S. financial market regulators on Thursday recommended ways to increase regulation of money market funds, and analysts said the wide-ranging nature of the proposal suggested reform was inevitable.
The President’s Working Group on Financial Markets issued suggestions for making money funds more stable and less susceptible to cascading investor withdrawals during a crisis……………………………………….Full Article: Source

For jittery investors, all that glitters is gold ETF

Posted on 22 October 2010 by VRS  |  Email |Print

From Indiatimes.com: Rising demand for gold, low production and firm prices are prompting investors to load up on the yellow metal in their portfolios like never before. This is despite gold appreciating 22% over the past one year. Gold exchange-traded funds (ETFs) have been the biggest beneficiaries of this gold rush.
Gold ETFs, as a segment, have seen huge institutional and retail interest over the past few months. While gold ETFs buy units of gold, gold-based fund-of-funds (schemes that invest in other schemes) invest in gold through gold ETFs……………………………………….Full Article: Source

ETF basics: How to invest in emerging markets

Posted on 22 October 2010 by VRS  |  Email |Print

From Usnews.com: One asset class that should be in most retirement portfolios is emerging market stocks. Stocks in companies in the 20 or so nations included in the popular MSCI Emerging Markets index are dominated by Asia (predominantly Taiwan and Korea) at more than 50 percent, Latin America (20 percent), Africa and the Middle East (20 percent), and some smaller European countries.
Investing in emerging market stocks is considered high-risk and high-return because you own companies in countries that are in an intermediate stage of development. Their economies are still developing and their stock markets are still gaining global clout……………………………………….Full Article: Source

China’s 1st joint-stock commodity exchange to facilitate trade for 100 commodities

Posted on 22 October 2010 by VRS  |  Email |Print

From Cri.cn: China’s first joint-stock commodity exchange — northern Tianjin Municipality-based Bohai Commodity Exchange — said Thursday it plans to facilitate trade for 100 commodities over the next three to five years.
“The priority this year is the listing of iron ore,” said Zheng Yu, deputy general manager of the exchange. He said most of the commodities traded on the exchange will be strategic commodities……………………………………….Full Article: Source

Credit Suisse slashes commods trading risk in Q3

Posted on 22 October 2010 by VRS  |  Email |Print

From Reuters: Credit Suisse cut its commodities trading risk by nearly 30 percent in the third quarter, following in the footsteps of some of its U.S. peers, while its commodity revenues jumped.
The Swiss bank’s Value-at-Risk (VaR) for commodities slipped to $10 million during the quarter from $14 million in the second quarter. Year-on-year, it fell 50 percent from the $21 million in the third quarter of 2009……………………………………….Full Article: Source

Currency wars would damage global, U.S. economies - BBH’s Marc Chandler

Posted on 22 October 2010 by VRS  |  Email |Print

From Kitco News: Despite foreign exchange tensions between the western nations and China and emerging countries, there is no full-scale currency war yet, according to a senior foreign exchange strategist.
Marc Chandler, senior vice president for global currency strategy for Brown Brothers Harriman, said in an interview with Kitco News that currency wars are dangerous and hark back to the type of “beggar thy neighbor” competitive devaluation that exacerbated the Great Depression. To go to that extent would hurt world growth. Should a currency war develop, the results would be negative for the global and U.S. economies, he said……………………………………….Full Article: Source

Ruble misses resources party

Posted on 22 October 2010 by VRS  |  Email |Print

From WSJ: In a world of soaring commodity currencies, Russia’s ruble stands out, hitting new lows even amid higher oil prices and renewed investor interest in emerging markets.
The ruble hit a new year low of 36.30 against a basket of dollars and euros Thursday, as government officials pointed toward a rising tide of imports and stagnant exports as a key cause of the currency’s recent slide………………………………………Full Article: Source

Official comments on global currency tensions

Posted on 22 October 2010 by VRS  |  Email |Print

From Reuters: Financial leaders from the Group of 20 major economies meet in South Korea from Friday to try to take tackle global economic imbalances and currency tensions that are feeding worries of trade protectionism as the world economy struggles for a smooth recovery from the financial crisis:
Investors are turning away from low-growth rich nations to fast-growing emerging ones, prompting steps by some countries to to control the wave of capital threatening to destabilise their economies. The following is a collection of official comments highlighting the concerns and strains:………………………………………Full Article: Source

Trade imbalance and ‘currency wars’ flummox G20 nations

Posted on 22 October 2010 by VRS  |  Email |Print

From Csmonitor.com: The risk that exchange-rate battles will harm the fragile global economy was the top policy concern as world finance ministers begin a multiday meeting this week.
It’s an issue that pits the United States prominently against China, but that also is stirring anxiety among other nations in the Group of 20, which gathered for talks Thursday in Gyeongju, South Korea……………………………………….Full Article: Source

The dollar is a third-rate currency

Posted on 22 October 2010 by VRS  |  Email |Print

From Hardassetsinvestor.com: To many investors’ surprise, the Yankee dollar’s earned only a third-place ribbon for its depreciation against gold over the past 12 months.
With all the recent hoopla and headlines about gold making new highs against the greenback, the destruction derby of the world’s reserve currencies is actually won by the euro, with sterling close behind……………………………………….Full Article: Source

Dairy board urged to set up ‘Opec for milk producers’

Posted on 22 October 2010 by VRS  |  Email |Print

From Irishtimes.com: The Irish Dairy Board was asked to pursue the possibility of setting up a global group similar to Opec to represent milk producers, with other big international companies or State agencies.
Hugo Maguire, a town of Monaghan co-operative delegate, proposed his idea to Kevin Lane, chief executive of the dairy board at the annual conference of co-operative societies yesterday……………………………………….Full Article: Source

What to expect for gold, silver and other key commodities

Posted on 22 October 2010 by VRS  |  Email |Print

From Foxbusiness.com: The Federal Reserve announced on Oct. 15 it will continue its policy of “printing money,” in the hopes of stimulating additional lending. What does this second round of quantitative easing (QE2) mean for the precious metals markets?
Probably not much. Although retail investors might expect precious metals commodities like gold and silver to surge upward when the Fed floods the financial system with money, QE2 is unlikely to have a major impact on these markets……………………………………….Full Article: Source

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