Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

US recovery weakest on record

IMG Auteur
 
Published : January 28th, 2013
279 words - Reading time : 0 - 1 minutes
( 2 votes, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Crisis Watch

24hGold - US recovery weakest ...New data out from the St Louis Federal Reserve confirms that the current post-Q2 2009 “recovery” in the US economy is the weakest on record.

24hGold - US recovery weakest ...

ZeroHedge has all the details and more charts. Interestingly, while gains in real GDP remain sluggish, US equities have been outperforming relative to past recovery cycles. Which tends to confirm that government policies have been helpful for the wealthy and extremely unsatisfactory for the rest of the population.

Across the Atlantic, figures released by the United Kingdom’s Office of National Statistics have confirmed that GDP contracted in the final quarter of last year by 0.3% – more than consensus estimates expected. So we’re on course for an unprecedented triple-dip recession and a loss of the country’s triple-A credit rating, along with a significant collapse in the pound’s value relative to gold.

In other European news, Greek and Spanish youth unemployment rates continue to shoot higher: at above 55% for both countries and more than double the eurozone average, with some analysts concerned that the bottom has not been reached yet. Eurozone stock markets have rallied since last summer – as has the euro – but the hard work required to remedy the continent’s structural economic flaws is only just starting.

Precious metals had a tough day yesterday, with gold again succumbing to selling pressure after looking like it was going to break though resistance at $1,700. Silver and platinum followed gold lower, but palladium continues to show strength – and looks like it wants to breakout to new 12-month highs above $725/oz. For those interested in learning more about platinum and palladium, Sprott Asset Management have just released a new infographic on the subject.

Thanks to Goldmoney from www.goldmoney.com
Companies Mentionned : Metals X |
<< Previous article
Rate :Average :5 (2 votes)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Marine Le Pen Soars Into Lead in...
30 Januser47791
Some of the polled people must be voting for 2 presidents: the combined votes total at least 134%.
Are You Sure You Want to Delete ...
30 Jan077885258331
are you mad if you save where the government can see it touch it feel it they will take it, either through inflation, taxes or confiscation th...
Greece's Debt: Guess Who Pays in...
28 Janbelville19071
I have read better analysis from Adrian: Greece is in an extremely strong position and the EC has to give in. If Greece leaves and defaults on its ...
Koos Jansen: India's silver expo...
26 JanDoom
Heh, the title doesn't match the subject. I would have been shocked if India was really exporting silver, much less exporting a record.
Education is Too Important Not t...
26 Jansam_site1
Right on Ron. Americans don't understand that we have been fed a distorted version of history taught in our schools. The constant attempts by cri...
Job Site of the Future: Unmanned...
26 Janrhaacke
All this fear of automation taking over jobs is completely unfounded. It will never be possible for machines to make everyone unemployed. If everyo...
Jim Rickards: Gold price manipul...
26 Janstustev1
Jim, If the intent of the manipulation is to get more gold into China and it is imperative to accomplish this forthwith then why do not the wor...
Dollar Denial Ain't Just a River
24 Janovertheedge
"It all comes back to preparing for the worst, and letting the best take care of itself. Easy to say - hard to implement. " "Therefore, we...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.