It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
worries returned about sluggish economic growth.
Gold for December delivery added $5.10 to settle at $1,273.80 an ounce, which was a record high. Earlier in the day, it traded as high as $1,279.50 an ounce. It was the second time this week gold has set a record high, and some analysts believe the price could top $1,300 an ounce.
According to Bloomberg, for the week ended September 17, corporate insiders bought $1.4MM in shares in a whopping 7 different companies. This was just marginally offset by sales of $441MM in 98 different companies, a ratio of 290 to 1 of stock notional sold to bought. But wait: this is GREAT NEWS: last week the ratio was 650 to 1! So this is a huge improvement and certainly yet another reason for today's rally, even though last week total notional sold was $332 million, or just under 25% lower, and sellers came in well lower at "just" 72. But who needs details when you have the Fed...
The much anticipated "low volume market" casualties are accumulating. As we noted first a few weeks ago
Gold Rises to Record.....The metal surged to $1,292.40 an ounce at 3:55 p.m. New York time after the Fed said it’s willing to ease monetary policy further to bolster the economy. The greenback fell as much as 1.3 percent against a basket of six major currencies. Gold has gained 18 percent this year, heading for the 10th straight annual gain.
Obama economic adviser Summers leaving White House
The Obama administration's top economic adviser, Larry Summers, will be stepping down from his post at the end of 2010, the White House announced Tuesday.