Category: Gold

US Dollar Drops to 15 Month Low

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Whenever there has been a world crisis, it has been typical for foreigners to seek the safety of the US dollar. A common means to accomplish that has been to buy US Treasury debt. The typical example over the past couple of years is that the demand for US Treasury debt has increased at the various peaks of crises among the European Union nations such as Greece, Ireland, Spain, Portugal, and the like.

As a result of these surges in demand, the US Dollar Index, which reflects the value of the dollar against other currencies, tends to increase.

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Japan crisis puts world financial markets on edge

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NEW YORK -Fears over the escalating nuclear crisis in Japan overtook financial markets around the globe Tuesday, pushing stocks and other investments lower. The Japanese stock market lost 10 percent of its value, and Wall Street dropped steeply before bouncing back.

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Japan Continues Hold the Yen currency

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The Japanese government will continue hold the yen after the earthquake and tsunami for some time ago. The measure is on the market, Japan noted the development of its currency and trade with partners in the G-7 if necessary.

At a time when overall response times for the first time since 2000, a group of seven countries to sell the yen on Friday, March 18, 2011, reached unprecedented levels after the currency reform. Conditions that exports from Japan and other trade agreements, which could jeopardize the success of the Japanese economy after a disaster.

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Gold Will Continue to Shine

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The U.S. consumer price index rose 0.5% in February from the month before, pushed higher by food and energy costs. The price index for all items climbed 2.1% over the past year.

But many think government-reported inflation numbers don’t present an accurate price picture. Some economists estimate the true rate of inflation is closer to 8% or 9%. And those numbers could rise higher as the U.S. Federal Reserve continues to pump billions of dollars into the financial system.

Inflation, coupled with political turmoil in the Middle East, has pushed many investors out of stocks and into commodities. Gold rose to a record $1,445.70 an ounce on March 7. Market uncertainty from the Japan disaster pushed the metal down to $1,380.70 on March 15, but it gained again this week to hover around $1,400 an ounce.

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Buy, Sell or Hold

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Sometimes the market offers investors a rare chance to buy shares of a great company on a dip. That’s precisely the opportunity we’re getting right now with Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX).

The current market volatility is giving investors with an eye toward long-term investments a great chance to buy shares in a world-class company.

FCX is one of the best-run global mining companies and a great way to gain exposure to gold and copper. So it’s time to “Buy” Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) (**).

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