A Melman Minute — August 12, 2008
| By | Leonard Melman |
|---|---|
| Date | August 12, 2008 |
Unfortunately, due to early flight connections, this will be an abbreviated MM.
As of 4:00 AM, gold has stabilized near (all prices US$) $812, after falling to just above $800 in overnight trading, silver and platinum are lower and there are no solid indications for the base metals. Crude remains near $113 per barrel and the financial markets look to open slightly lower.
Suffice it to say that many 'red warning flags' are flying regarding whether these declines are the beginning of major moves, or rather just corrections within ongoing trends.
Will report later from Yellowknife, NWT.
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