Dear PGM CAPITAL Blog readers, On Friday , October 28 2011, after the bell, Southern Copper Corporation (NYSE: SCCO) reported its Q3-2011 financial results. Highlights: Third quarter 2011 sales were US$1,745.9 million, 38.8% higher than the US$1,257.9 million in the Q3-2010. Nine month 2011 sales were US$5,149.4 million, 41.1% higher than the $3,650.5 million in the first nine[…]
Dear PGM CAPITAL Blog readers, Since May of this year, Europe, the Euro-zone and the European Debt crisis are the headline of almost every news media on the planet. Currently the head of state of the 27 European Nations are meeting in Brussels, their 21st meeting in 14 month, on the issue of the Greece[…]
Dear PGM-Capital Blog readers, After a very bad and dramatic Q3-2011, the selling has continued on the first day of the fourth quarter. Most investors are asking themselves what is going on in the markets, do we have it all wrong, shall we sell everything and go into cash? Or will history prove that this[…]
Dear PGM Capital Blog readers, Since July 22nd of this year we have seen the major global markets based on fear of a default of Greece in a tailspin. As can be seen in below charts, in the first instance Investors run to precious metals like gold, sending the price of Gold to an all time high of US$ 1,920.00 an oz, but[…]
Dear PGM Capital blog readers, This morning, August 24th 2011, BHP Billiton, (NYSE: BHP) reported a record-breaking US$23.6 billion (AUD22.5bn) profit for the year ending June 30 2011. The BHP result – the biggest profit ever delivered by an Australian company and almost double last year’s $US12.7bn result – was driven by the same soaring iron ore[…]
Dear PGM Blog readers, Today, August 18th 2011, Gold appreciated with USD 35.90 or 2.01 % to close at an all time High of USD 1,824.90 an ounce in New York as can be seen from below chart. The Word Gold Council, has stated in its report “Gold Demand Trends” that the demand for gold[…]
Dear PGM Capital blog readers, Today August 15th 2011, is the 40th anniversary of President Nixon’s ending the Gold Standard and the end of the Bretton Woods international monetary system and the creation of modern FIAT currency. Nixon based his decision on the fact that too much gold was leaving the USA because France’s president Charles de Gaulle was reducing France’s[…]
Dear PGM Capital Blog readers, On Friday evening August 5th 2011, Standard & Poor downgraded the USA credit rating from AAA to AA+. On Sunday August 7th 2011, during “MSNBC” program. “Meet the press”, former USA Fed Chairman, Dr. Alan Greenspan, was asked on his opinion about the downgrade of the USA debt. MSNBC Reporter:[…]
Dear PGM Capital, blog reader, Stocks have treaded water today, all over the world as a reaction to the downgrade of the USA credit rating from AAA to AA+, by S & P, Friday August 5th 2011. The sell-off gained steam after President Obama’s speech of this afternoon, as can be seen from below DOW[…]
Dear PGM Blog readers, On Friday, August 5th 2011, Credit rating agency S&P had the guts to downgrade the USA sovereign debt from AAA to AA+ with a negative outlook for the USA for the coming 15 months. August 5th 2011, will go into history as the day that a “credible” rating agency has acknowledge[…]