Moming Zhou
MarketWatch
May 21, 2009
Gold futures rose Friday for a fourth-straight session, briefly topping the $960-an-ounce mark for the first time in nearly two months as the U.S. dollar weakened against its major rivals on concerns over the U.S. credit rating.
Gold for June delivery rose to as high as $963.10 an ounce in early morning trading, topping $960 for the first time since March 19. It was last up $6.30, or 0.7%, to $957.50 on the Comex division of the New York Mercantile Exchange. The metal is set to end the week up nearly 3%.
The greenback fell Friday to the lowest level in four months against the euro as worries increased that the U.S. could lose its triple-A credit rating.
Standard & Poor’s Ratings Service Thursday warned Britain that it may lose its triple-A rating, triggering a drop in U.K. bonds and sparking global fears about sovereign credit ratings. In the U.S., 10-year Treasury bonds fell below a crucial level.
Well it seems to me that we in Malaysia are suffering from high inflation and boom in our economy, we have to import in foreign labour for undesirable jobs that none of our citizens wants to work at. China, Indonesia and Singapore are also booming, an example would be a dessert I bought a month ago was $ 1.20 in local currency and currently is selling at $ 1.80 which shows high inflation... The job market is also good with 2 jobs available for 1 worker, leading to high wage growth, hence we have to import in labour. We found out after March 2009 that we were not going to go into a Recession, imagine our surprise when we were told we were going to go into a Recession, we suspect we were saved by China's boom and growth !
ReplyDeletepersonally I am not a big fan of Asia , I know that the world elite have literally flooded Asia with investments , they have widely opened the western markets and especially the American one to the Asian goods while in the same time allowing Asia to not import practically anything from the west , and still they get away with it ..this might be surprising , until you know the reasons , the world elite are trying to build an Asian Block in order to balance with it a western bloc and ultimately hit one by the second and destroy both , asia fall for it the West Fall for it , welcome to the third phase of the NWO plan
ReplyDeletenow it's only a matter of time until gold will reach the $1000 mark
ReplyDelete