The dollar extended its prior-session losses The dollar extended its prior-session losses on Thursday.
"The small children managing money for hedge funds
have been spinning their wheels," said Ned Schmidt,
Bernankeeditor of the Value View Gold Report.
"[They] bought gold on Lebanon and sold it
Monday on Lebanon.
[They] bought gold on Bernanke's mumbling testimony
on one day and are now selling it due to Bernanke's
testimony."
On his second day of testimony to Congress Thursday,
Federal Reserve Chairman Ben Bernanke remained positive
about the economic outlook and monetary policy.
On Thursday, United Nations Secretary-General Kofi Annan
condemned the "excessive use of force" by Israel
against Lebanon, and while he advocated for an
immediate stop to the conflict, he said
that there were "serious obstacles" to a cease-fire,
the Associated Press reported.
Israel carried out 80 air strikes against Lebanon
on Thursday, bringing the number of Lebanese casualties
since the fighting broke out last week to 300,
according to the BBC.
About 29 Israeli's have died since Israel began
the offensive triggered by the kidnapping of two
of its soldiers by Hezbollah.
Lebanon's president Emile Lahoud called for an
immediate ceasefire and described Israel's attack
as a "massacre," the BBC reported.
Thousands are fleeing the fighting and aid agencies
are warning of a evacueehumanitarian catastrophe...
https://news.bbc.co.uk/2/hi/middle_east/5201696.stm
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