Economic Charts

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Tuesday, October 19, 2010

Gold and Silver Down

Gold and Silver are backing up today due to China raising interest rates, profit taking, strengthening in the dollar,  the stock market sell off due to a dip in IBM's outsourcing business and quarterly reports.
Investors were apparently rattled by a dip in IBM's outsourcing business, and sent its shares falling 3.3 percent, or $4.73, to $138.10 in extended trading.   

Lockheed Martin also warned on the impact of pensions on its bottom line,  as we saw from a previous post that they are $10 billion underfunded on pensions.  Other companies have diminishing views of the future economy (fears of a double dip re-entering) and this is having an impact on business and the market in general.  

Nothing moves in a straight line, a healthy backup was needed and provides opportunity.  See your investment advisor on the right moves for you.

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