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Posted
Apr 28 2008, 04:01 PM
by
Charley Blaine
Rating:
Money Blog: Top Stocks Blog - MSN Money
Earnings from Royal Dutch Shell and BP today just about guarantee that ExxonMobil is going to report some truly gaudy first-quarter revenue and profits on Thursday.
And they're only going to get bigger as the year rolls along. So big, in fact, that Exxon's revenue by the end of the year may be greater than the gross domestic product of Sweden, the world's 18th-largest economy.
Here's how the numbers could work:
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Posted
Jun 03 2009, 08:14 AM
by
Elizabeth Strott
Rating:
Money Blog: Top Stocks Blog - MSN Money
 What's a rapper to do?
The recession has now taking its toll on bling. The jewel-encrusted "grillz," diamond earrings, gold necklaces and even the glitzy spinners that have become part of rap stars' wardrobes and rides are being put on hold as rappers are now trying to save cash, according to The Wall Street Journal.
With gold prices soaring nearly 10% in May (gold is currently trading at about $980 an ounce) and CD sales plunging, it's no wonder rap stars are cutting back on the bling.
Buyers like cash4gold.com have been cashing in as Americans have been trading in everything from gold chains to signet rings. So it's not a huge surprise that Lil John wannabes are taking out their gold teeth and selling them. There's even a site, sellyourgoldteeth.com, that is designed solely for people who want their good old pearly whites back -- and some cash, to boot.
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Posted
Oct 05 2009, 03:38 AM
by
Douglas McIntyre
Rating:
Money Blog: Top Stocks Blog - MSN Money
Cash4Gold is a low-rent business that buys cheap television time to promote its program in which people to send it gold in exchange for cash. Turn that old jewelry into money.
It turns out that Cash4Gold is an outstanding business. According to TechCrucnh and The New York Post, the company made $30 million on $90 million in revenue and sales are on track to hit $160 million this year.
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Posted
Sep 08 2009, 07:39 AM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
This article is written by Minyanville's Lance Lewis
I was wrong about gold breaking out last month. See Gold to Break $1,000 This August. Turns out the yellow metal didn’t break out over $1000 until eight days later (i.e. today).
Now that we’ve gotten that out of the way, what now? A vast amount of ink has been spilled over the past several days by analysts trying to divine what gold’s rally "means." The most popular opinion appears to be that it’s just random noise and means nothing. However, let’s go to the scoreboard and see if that view is generally correct. For more on where the metal is headed, see Will September Patterns Hold for Gold?
Bing: Precious Metals
First, let’s start with a little history. Gold peaked at $850 after its 2400% romp in the 1970s and then cratered. At the time, inflation was the big concern, and many claimed gold’s decline was just a bubble collapsing and that inflation would be a problem forever going forward. Turned out that 1980 was the peak in long-term interest rates and most commodity prices per the CCI equal-weighted commodity index. Gold went nowhere but down from 1980 to 2001, just as the CCI and inflation did. So in a very real sense, gold told you quite accurately that inflation was falling and would keep falling.
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Posted
Sep 03 2009, 10:38 AM
by
Anthony Mirhaydari
Rating:
Money Blog: Top Stocks Blog - MSN Money
Since Tuesday's big decline, investors are making a dramatic shift out of more defensive holdings at the expense of riskier assets. Clearly, after an easy summer of steady gains for stocks, investors are once again feeling the cold chill of fear.
For context, the Investors Intelligence sentiment survey recently saw bullishness climb to levels not seen since October 2008. But this is changing now.
Options traders are frantically bidding up the price of protection on the S&P 500 index, causing the CBOE Volatility Index ($VIX.X) to blast 12.1% higher on Tuesday and punch through the downward trend that has been weighing on the measure of investors apprehension since the beginning of the year. We're seen similar breakout moves in gold and bonds over the past few days as well.
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Posted
Apr 01 2009, 11:58 AM
by
James Dlugosch
Rating:
Money Blog: Top Stocks Blog - MSN Money
This post comes from partner site InvestorPlace.com.
I will be very blunt: I despise gold and everything it stands for.
It's an abhorrent example of materialism and serves no real purpose. Lust for gold is over-the-top excess, and despite the protestations of the gold bugs, there is no real basis for the metal serving the currency needs of the world.
The fearmongers will have you believe that the world is collapsing and that inflation has run amok. As a result, the only real currency out there is gold. Given that gold is in finite supply, it should be bought and hoarded . . . or so the theory goes. Gold is the only thing that you can count on.
What hogwash -- there is no place for gold on the global financial stage.
I recently wrote about five reasons to avoid gold. Here are three of those reasons:
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Posted
Jun 04 2009, 10:50 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
This isn't a good sign. Northwestern Mutual, the third-largest life insurer in the country, has bought gold for the first time in its history, Bloomberg reports. And it bought a lot. “Gold just seems to make sense; it’s a store of value,” chief executive Edward Zore told Bloomberg. “In the Depression, gold did very, very
well.” Northwestern now has about $400 million in gold. The way Zore sees it, the investment just can't go bad.
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Posted
Sep 10 2009, 12:53 PM
by
Anthony Mirhaydari
Rating:
Money Blog: Top Stocks Blog - MSN Money
Late last week I wrote about how conservative assets like gold were attracting new buyers. In the days that followed, it soared over the $1,000 level. But now, with risk appetites on the rise again as stocks push to new highs, gold's flashy move looks like it might be one big head fake.
Veteran market technician and gold watcher Tom McClellan of the McClellan Market Report notes that while stock market tops tend to be quiet, low volatility events; gold tops tend to be violent, blow-off extravaganzas that attract a lot of attention. That's happening now.
Bing: More on gold prices
There are a number of reasons to be worried about the sustainability of the rise in the yellow metal, including a lack of inflationary pressures, calm credit markets, and the artificial boost it has received from the unwinding of hedges by gold miners. But more simply, it can be reduced to speculative excess.
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Posted
Jun 03 2009, 10:10 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
Chinese investors have gone crazy for gold, and are rushing to hoard it over concerns about a lingering global recession, China Daily reports. The price of gold has jumped nearly 7% in the last month on the Shanghai Gold Exchange. Much of the increase is due to more demand for gold jewelry and gold bars. Also hot right now are shares of Chinese gold producers on the Shanghai and Shenzen stock exchanges. "The declining value of the dollar along with the worsening economic outlook is forcing investors to seek other anti-inflationary investment tools, like gold," said one Chinese analyst. Here in the U.S., some strange things are happening related to gold.
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Posted
Sep 08 2009, 10:16 PM
by
James Dlugosch
Rating:
Money Blog: Top Stocks Blog - MSN Money
With gold hitting $1,000 per ounce again, giant producer Barrick Gold (ABX) announced that it would begin the process of eliminating all gold hedges. In order to pay for the plan, the company will raise $3 billion by selling new shares of its stock.
This move is either the company's brightest move ever or one of the most insanely dumb thing any company has done ever. I vote for the latter. Bing: More on Investing in Gold Succumbing to shareholder pressure, management claimed that its gold hedges had weighed down the valuation of shares in a rising-price environment.
The hedges basically commit the company to selling gold at specified prices. The idea is to guarantee consistent cash flow for the company. But as the price of gold has increased, the hedges forced Barrick to sell gold at less than market value.
By closing the hedges, Barrick can get more for its gold and more for shareholders – if the price of gold keeps rising. In effect, this is a huge bet on $1,500 or $2,000 gold.
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