Gold & CopperGold
Targeting wealthy investors looking for a safe investment, upscale London department store Harrods is now selling bars of pure Swiss gold bullion and coins displayed in a miniature vault. This may be taken as a sign that the demand for physicals is stronger than currently believed.
Silver
One of the world's largest silver producers has agreed to buy an exploration and development company that owns Navidad, one of the world's largest undeveloped silver deposits. And to get ownership of that Argentinian deposit, Pan American Silver has offered a healthy premium and has the support of Aquiline's directors and senior officers.
Copper
Copper extended losses on Friday as rising inventories and persistent worries about metals demand persisted, while U.S. corporate earnings weighed on equities.
US Dollar
U.S. Treasury Secretary Timothy Geithner said in a television interview that the U.S. dollar would retain its role as the world's reserve currency, but acknowledged maintaining its status entails "special obligations and responsibilities" to keep the dollar's value from eroding. In an interview on CNBC-TV, portions of which aired Thursday night, Geithner rejected suggestions that the U.S. dollar might lose its reserve-currency status. He noted that when global markets were shaken last year, "the world wanted to be in Treasurys," and the value of the U.S. dollar rose.
Canadian Dollar
The Canadian dollar's upward trend will take it well above parity with its U.S. counterpart and could ultimately take it more than 14% higher against the greenback from current levels, says high-profile market watcher and newsletter publisher Dennis Gartman. The U.S. dollar, which was trading at C$1.0252 late Wednesday, could ultimately drop into the C$0.8000s, Gartman, editor and publisher of the Gartman Letter said in an interview Wednesday. A U.S. dollar drop to the top of that range would constitute a 14% appreciation in the Canadian dollar. The Canadian dollar has risen 18% against its U.S. counterpart since the beginning of the year.
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