Jim Rogers News
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Scott Lee, an ardent fisherman from Oak Ridge, Tennessee, has an opinion as to whether Barack Obama should sell the federally chartered Tennessee Valley Authority to private investors: Don’t do it.
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Duke Energy Corp., the largest U.S. utility owner, said first-quarter profit rose as cooler temperatures than a year earlier boosted demand for power.
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Hedge funds accumulated their second-biggest bet against gold on record just as prices rallied the most in 15 months on surging demand for coins and jewelry and Goldman Sachs Group Inc. ended a recommendation to sell.
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Gold futures, which fell into a bear market this month, are poised for more declines and may plunge to the lowest since September 2010, according to technical analysis by Fain Shaffer of Infinity Trading.
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Jim Rogers, who predicted a commodity rally in 1999, said he may buy gold if a bear market deepens and prices fall to $1,300 an ounce or below.
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Gold will probably extend its 14 percent slump this year to the cheapest level since 2010, according to technical analysis by Barclays Plc.
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Short-seller Carson Block’s charge that Olam International Ltd. will fail, his first attack on a Singapore company, is a victory for shareholders after it made the commodity trader more responsive to investors.
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India, the world’s second-most populous nation, is doubling spending on water management to a record as conglomerates from the Tatas to Adani face shortages that the United Nations calls an impending crisis.
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Gold, which tumbled into a bear market last week, is in need of a correction, according to investor Jim Rogers, who said that he’s not buying the commodity yet as it hasn’t dropped enough.
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Gold traders are divided on whether bullion will extend declines after the biggest plunge in three decades generated buying from investors and jewelers.
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