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May 7, 2009

Howard Miller's Report: From Global Bullion Trading Group:

This is the other face of the crisis expressed by the market, which still dubious about about its floor

Good morning everyone, The metals continued to climb in overnight trading in advance of today's official release of the Bank Stress Tests...According to the Wall Street Journal banks will need another $67 billion in additional capital in order be able to handle another steep economic decline........As for the metals; Silver is up another 25 cents at $14.03.....Gold is $7.00 higher at $918.00.....Palladium gained another $7.00 to $235.00......Platinum is $1160.00 up $30.00....The gains in Palladium and Platinum come despite yesterday's reported $6 billion loss by General Motors... In currency trading the Euro is 31/100ths of a cent higher versus the Dollar while the European Central Bank sits behind closed doors deciding the future of their interest rates...That decision will be announced this morning.....Last on the Euro $1.3319......Crude Oil continues to climb as a growing number of economists are predicting the worst is already over with regards to the current recession / depression (depending on your viewpoint).....Last on Oil $57.96 up $1.62 per barrel......Stocks ended yesterday with the Dow up another 101 points at 8512....This morning the Dow is being called to open another 49 points higher.....A quick look at today's economic data is in order.....The Weekly Initial Jobless are expected to come in at 635,000 versus 631,000.....This is at odds with yesterday's ADP Employment data which clocked in at just under 500,000.....Also keep in mind that today's weekly data is a mere precursor to tomorrow's all important Non Farm Payroll data....Today's other important report comes in the form of Consumer Credit....Last month we got a massive contraction in credit spending with a decline of $7.5 billion.... This month that decline eased with a drop of only $4 billion....Once again; bad but better....It seems to be a growing mantra......Lets see how it all works out....That's it.....Howard

BBC BUSINES:" US banks 'safe from insolvency' "

No US bank being screened by regulators is at risk of insolvency, US Treasury Secretary Timothy Geithner has said.
No US bank being screened by regulators is at risk of insolvency, US Treasury Secretary Timothy Geithner has said.

To read full story, click HERE

What do you think? Let me know.

Adam Hewison Treats The Gold market

Adam Hewison is back, and today bring us a look at the gold Market::

Today we're going to take a look at the gold market. While many traders have been frustrated with this market for the past several month, it has in fact performed quite well given the generally negative feeling for most markets.While the printing press is going at full-tilt in the US and the fact that most people are not involved in the gold market at the present time, it occurs to us that this market could indeed be setting itself up for a nice rally.

In our new video, I explain in detail some key levels to watch for in the gold market. If these levels are broken then you definitely want to take a position in the direction of the major trend.As always, this video is available with our compliments and there is no registration required.

To view this video , click HERE

All the best

Adam Hewison