dagblog - Comments for "Manufacturing activity rises to 7-month high"

Gold Tumbles Most Since July

artappraiser — Tue, 04 Jan 2011 17:35:11 +0000

In reply to Manufacturing activity rises to 7-month high

Gold Tumbles Most Since July on Equity Rally; Silver Falls

By Pham-Duy Nguyen and Nicholas Larkin, January 4, 2011

Jan. 4 (Bloomberg) -- Gold fell the most in six months on speculation that a global recovery will curb demand for the metal as a haven asset.

Equities gained worldwide. The dollar strengthened against the Japanese yen on speculation that the U.S. recovery will gather momentum. Gold posted a 10th straight annual gain in 2010, rising 30 percent and outperforming stocks and bonds. The metal reached a record $1,432.50 an ounce on Dec. 7.

“Some of the flight-to-quality bid is coming out of gold,” said Adam Klopfenstein, a senior market strategist at Lind-Waldock in Chicago. “Some of the fast money is selling gold to begin the year. People are expecting equities to rally.”...

http://www.businessweek.com/news/2011-01-04/gold-tumbles-most-since-july...

Factory Orders Rebound,

artappraiser — Tue, 04 Jan 2011 17:31:23 +0000

In reply to Manufacturing activity rises to 7-month high

Factory Orders Rebound, Brighten Growth View

January 4, 2011

WASHINGTON (Reuters) - New orders received by factories unexpectedly rose in November, and orders excluding transportation recorded their largest gain in eight months, providing more signs the economic recovery was on sustainable path.

The Commerce Department said on Tuesday orders for manufactured goods increased 0.7 percent after dropping a revised 0.7 percent in October.

Economists polled by Reuters had forecast factory orders slipping 0.1 percent in November from a previously reported 0.9 percent decline in October. Orders have risen in four of the last five months.

Manufacturing has been the star performer during the recovery from the worst recession since the 1930s and continues to expand. Factories appear to be ramping up activity to meet a pickup in demand from consumers and businesses....

http://abcnews.go.com/Business/wireStory?id=12536267