South Korea Holds Interest Rates, Won Goes Lower

South Korean wonThe South Korean won declined today as the nation’s central bank kept the main interest rate unchanged, most likely influenced by threat of the European problems and the downgrade of the US credit rating for the global economy.

Australia’s Dollar Rallies Despite Rising Unemployment

The Australian dollar jumped today as gains of US stocks and advance of commodities overshadowed the unfavorable report about employment in Australia
The Standard & Poor’s 500 September futures advanced 1.7 percent, following yesterday’s decline by 4.1 percent. The Thomson Reuters/Jefferies CRB Index of commodities gained 1.4 percent yesterday.

More of the Same Panic and Fear; Gold Rallies to Yet Another Record High

Markets are once again back under pressure after Tuesday’s equity market gains were entirely wiped out (9th worst point drop on record for Dow). Fear and panic remain firmly in control, and gold prices continue to soar to record highs beyond $1800.

Gold hits another record high Precious metal seen as a safe haven

NEW YORK/LONDON — Gold climbed to a third record in a row Wednesday, extending its biggest rally since 2008, setting a high over $1,800 an ounce.
Bullion rose as much as three per cent Wednesday and is up seven per cent this week.
It’s up 20 per cent since June, having broken cleanly above technical resistance from a near three-year trend-channel and putting its ratio to the S&P-500 stock index at the highest since 1988.
But that ratio remains far below its peaks of 1980 and the 1930s, and gold is still below its inflation-adjusted high of nearly $2,500.