IMF DROPS A BOMBSHELL ON THE US – The International Monetary Fund dropped a bombshell, that went largely unnoticed. They have now set a date, 2016, when the economy of China will officially pass that of the US. This is only five years from now! Many questions will need to be answered, regarding how this will effect the US dollar and the US Treasuries, when they no longer enjoy the privileges of being Number One.
INFLATION CONCERNS TROUBLE WALL ST – in a day of light trading, the stock market declined on concerns that earnings reports were beginning to become affected by rising commodity prices. Kimberly-Clark for one, reduced their full-year outlook due to the costs of pulp and other goods rising by almost twice as much.
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1,508.70 (up $3.90)
- Silver price - $47.04 (up 92 cents)
- Platinum price - $1,824.60 (up $4.90)
- Palladium price - $757.20 (down $12.80)