crws
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http://www.businessweek.com/news/2010-07-07/u-s-retailers-sales-rise-at-fastest-pace-in-4-years.html
July 7 (Bloomberg) -- U.S. retailers’ sales are growing at the fastest pace in four years, a sign consumers may be overcoming concern about unemployment and depressed home values.
Sales probably expanded at an average monthly rate of 4 percent in the first five months of the retail fiscal year that began Jan. 31, the biggest gain since 2006, the International Council of Shopping Centers trade group said in advance of its June report tomorrow. Nordstrom Inc. and Kohl’s Corp. are among chains that will report June sales increases at stores open at least a year, according to analysts’ estimates.
The rumours of a correlation appear to be true
http://www.bloomberg.com/news/2010-...u-s-equity-rally-erodes-demand-for-metal.html
Gold futures fell to a six-week low
as a rally in equities erodes demand for the precious metal as
an alternative investment.
The Standard Poor’s 500 Index rose for the second
straight day after a report showed that retail sales are growing
at the fastest pace in four years. Assets in the SPDR Gold
Trust, the biggest exchange-traded fund backed by bullion,
dropped for the third session in a row. Gold has declined 5.8
percent from a record $1,266.50 an ounce on June 21.
"The money that found its way into gold’s coffers is
looking for other places,” said Matt Zeman,
a trader at LaSalle Futures Group in Chicago. “More people are betting on a higher stock market.
There’s just a lack of buying interest for gold.”
July 7 (Bloomberg) -- U.S. retailers’ sales are growing at the fastest pace in four years, a sign consumers may be overcoming concern about unemployment and depressed home values.
Sales probably expanded at an average monthly rate of 4 percent in the first five months of the retail fiscal year that began Jan. 31, the biggest gain since 2006, the International Council of Shopping Centers trade group said in advance of its June report tomorrow. Nordstrom Inc. and Kohl’s Corp. are among chains that will report June sales increases at stores open at least a year, according to analysts’ estimates.
The rumours of a correlation appear to be true
http://www.bloomberg.com/news/2010-...u-s-equity-rally-erodes-demand-for-metal.html
Gold futures fell to a six-week low
as a rally in equities erodes demand for the precious metal as
an alternative investment.
The Standard Poor’s 500 Index rose for the second
straight day after a report showed that retail sales are growing
at the fastest pace in four years. Assets in the SPDR Gold
Trust, the biggest exchange-traded fund backed by bullion,
dropped for the third session in a row. Gold has declined 5.8
percent from a record $1,266.50 an ounce on June 21.
"The money that found its way into gold’s coffers is
looking for other places,” said Matt Zeman,
a trader at LaSalle Futures Group in Chicago. “More people are betting on a higher stock market.
There’s just a lack of buying interest for gold.”
