Sep 5, 2012
GATA | THE GATA DISPATCHES -September 5, 2012-: Gata Chairman Murrphy on Russia Today / West Pushes Gold Down / Faber Considers Gold Rally and tempt Confiscation
GATA Chairman Murphy's appearance on Russia Today's 'Capital Account' posted at YouTube
GATA Chairman Bill Murphy's appearance today on the Russia Today television network's "Capital Account" program, hosted by Lauren Lyster, has been posted at YouTube here:
Alasdair Macleod: West pushes gold down, and right into Eastern hands
Submitted by cpowell on 02:18PM ET Wednesday, September 5, 2012. Section: Daily Dispatches5:13p ET Wednesday, September 5, 2012
GoldMoney Research Director Alasdair Macleod, interviewed by the German media relations firm Cometis, says Western central banks are trying to suppress the gold price so that they may sustain their policy of negative real interest rates but that Eastern central bank purchases have put a floor under the price. The interview is translated into English at the GoldMoney Internet site here:
September 5, 2012
By GINA KOLATA
At least four million gene switches that reside in bits of DNA once thought to be inactive turn out to play critical roles in health, researchers reported.
By CHARLIE SAVAGE and GRAHAM BOWLEY
The United States military will continue indefinitely to operate a section of the Parwan detention complex holding foreign combatants, even as the two countries prepare to mark a Sept. 10 handover.
By STEVEN LEE MYERS and JANE PERLEZ
The United States and China sparred Wednesday over the violence in Syria and growing tensions over territorial disputes in the South China Sea.
By HAIM SABAN
By every measure, President Obama's support for Israel's security and well-being has been rock solid.
By IAN JOHNSON and JONATHAN ANSFIELD
A once powerful Chongqing police official, Wang Lijun, is accused of defection, abuse of power and corruption, China's state media reported.
Mauritania extradited Muammar el-Qaddafi's former spy chief, Abdullah al-Senussi, to Libya on Wednesday, a Mauritanian government source and the Mauritanian state news agency said.
By DAVID D. KIRKPATRICK
A statement by President Mohamed Morsi of Egypt directed at Syria's president, Bashar al-Assad, added to regional acrimony as Syrian forces shelled the battleground city of Aleppo.
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Dow industrials edge up ahead of ECB: Stocks and Markets in the News | Wall Street at Close Report - MarketWatch September 5, 2012.
By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) — The Dow industrials finished slightly higher Wednesday, with Wall Street unwilling to make major moves ahead of a European Central Bank meeting the next day.
“The pattern has been, especially in Europe, that doing something is a heck of a lot better than doing nothing. They’ve stated their intentions clearly and now it’s time to act,” said Alan Skrainka, chief investment officer at Cornerstone Wealth Management in Des Peres, Mo.
The ECB “almost has to act tomorrow,” John Canally, investment strategist at LPL Financial in Boston, said of the market’s raised expectations.
Trading in a narrow range, the Dow Jones Industrial Average DJIA +0.09% rose 11.54 points, or 0.1%, to close at 13,047.48.
The S&P 500 index SPX -0.11% declined by 1.5 points, or 0.1%, to 1,403.44, with utilities hardest hit and materials the best performer among its 10 industry groups.
S&P 500 component FedEx Corp. FDX -1.99% , viewed as an economic bellwether because it ships goods around the globe, saw its stock slide 2% after it cut its profit outlook. Read an analysis on FedEx.
In the Nasdaq Composite, Facebook Inc. FB +0.11% shares gained 4.8% after CEO Mark Zuckerberg said he would not sell his holdings for at least another year. Read analysis of Zuckerberg's decision.
The Nasdaq Composite COMP -0.19% retreated 5.79 points, or 0.2%, to finish at 3,069.27.
Decliners edged ahead of advancers on the New York Stock Exchange, where nearly 676 million shares traded and composite volume reached almost 3.4 billion.
ECB: no comment
The U.S. dollar DXY -0.15% fell against rival currencies including the euro EURUSD +0.02% . Treasury prices fell, with the yield on the benchmark 10-year note 10_YEAR -0.25% at 1.59%. Read more about bonds.
Oil futures CLV2 +0.76% finished at $95.36 a barrel, up 6 cents, or 0.1%. Gold for December delivery GCZ2 -0.02% lost $2, or 0.1%, to $1,694 on ounce. Read more on gold.
Ahead of the open, stock index futures had cut their losses after Bloomberg News reported that ECB President Mario Draghi’s bond-buying program would involve unlimited purchases of government debt that would be sterilized to appease worries about inflation. Sterilization refers to the process of draining liquidity from a financial system to offset additions to the money supply from measures such as purchasing bonds. Read more on why the euro rose on a report of a planned ECB ‘sterilization’ program.
The ECB “is going to buy bonds in a big way; they are going to try to contain the crisis in Spain and Italy by buying their bonds,” said Skrainka at Cornerstone Wealth Management. Read more on Skrainka's comments.
A spokesman said the central bank had no comment on the Bloomberg report, and pointed to an Aug. 20 statement after a report in a German news magazine that the ECB was considering setting a cap on bond yields. It called a story reporting on decisions that had yet to be made“absolutely misleading.”
Investors offered limited reaction to a morning report on U.S. productivity, which rose more than first estimated for the second quarter. Read story U.S. productivity.
“Today is more about Europe than the data,” LPL Financial’s Canally said.
Kate Gibson is a reporter for MarketWatch, based in New York.
Labels: 2012., Stocks and Markets in the News | Wall Street at Close Report - MarketWatch September 5
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