Tag Archive: price of gold

Week Ends in a Rally

Stock Market Rallies for Second Week in a Row

by Idea go

I apologize for the lack of updates the past few days, my scheduling had me beat and I was unable to post updates. But now, I bring you good news at the end of this Market Week. The Stock Market rallied for the second week in a row and it is great news for us.

The Dow Jones today gained 166 points, adding onto yesterday’s rally. Although it dropped a little on Wednesday, it was not enough to stop the market from ending the week in the positive. The Dow currently sits at 11,644. We haven’t seen this number in a while because in the past, it seems that whenever we get close to a number this nigh, something happens in Europe and we all end up paying for it.

The NASDAQ Composite gained more than 47 points, or 1.8%. It currently sits at 2,667. The S&P 500 gained almost 21 points, or 1.7% and currently sits at 1,224. And the NYSE gained over a 121 points, and it sits in at 7,350 at the end of this market week.

This week has definitely given us a great push towards the 12,000 mark. Hopefully the momentum from this week doesn’t stop here and carries over to the next few weeks. It will give investors a great deal of confidence if the Dow can go back over the 12,000 mark, something we haven’t seen in months.

Gold has also been holding steady over the past few weeks between the $1,600 and $1,700 marks. Currently gold costs $1,680 an ounce. Surprisingly, the price of gold has gone up recently along with the stock market. Generally, they tend to have an opposite effect on each other. As the stock markets rally, gold usually drops, and vice versa. But this week was a bit peculiar with the price of gold and the stock market rally.

As predicted earlier, Apple (AAPL) has bounced back pretty well and has set new records over the past few days. Currently, apple costs $422 a share after gaining $13.57 a share, or 3.32%. Steve Jobs has left behind a great and very strong company and even though many investors and consumers felt as if Apple wouldn’t do as well without Jobs, many others knew that Apple was too big to be brought down. Apple will continue to thrive and I believe we will see this stock set bigger and better records for itself.

I am glad to be able to bring you some good news at the end of this market week. Hopefully things continue to go up in the coming weeks. What are your thoughts about what happened in the past week?

Today is the last day of the month and the third quarter of 2011. Unfortunately, we are not where we would like to be at this time in the economy. Overall, the third quarter wasn’t impressive at all. Compared to last quarter, the stock market is down. And over the past few months, issues in Europe, particularly in Greece, made it much harder for the economy to recover.

The Dow Jones today feel more than 240 points. We finished just over the 10,900 mark. I was hoping that we would stay over the 11,000 mark as the quarter came to an end just so we would have fewer steps to hit the 12,000 mark.

The NASDAQ Composite finished at 2,415 after a drop of more than 65 points, or 2.63%. The S&P 500 dropped 2.5% of its own, or almost 29 points, finishing off at 1,131 points. And the NYSE Saw a drop of more than 183 points, also a 2.63% drop, finishing off at 6,791 points.

The European and Asian markets also ended in the red. The Nikkei 225 stayed nearly flat.

Kodak Plummets below the $1 per share mark

from Yahoo! Finance

Gold saw a small increase from yesterday, but only an increase of $4. Current price of gold is $1,624 an ounce reaching a low of $1,609 an ounce earlier today.

Eastman Kodak Company (EK), also known as just Kodak suffered a huge loss today. Kodak has been experiencing financial trouble for some time thanks to the economy. Today, Kodak stocks dropped more than 53%, or $0.91. Current price of Kodak is just $0.78 per share. It hit a new low earlier today of $0.54 a share. I don’t think that Kodak shares have ever been this low in the many decades it has been around.

If Kodak keeps plunging, they may go bankrupt. It will definitely be a sad sight to see a company that has been around for what seems like ages, just go away. I hope that they resolve everything soon. And of course, now may be the perfect time to invest in Kodak since it has basically become a penny stock. If you do invest, be aware that it is a very risky stock at the moment.

Tomorrow is October 1, 2011, and it marks the final quarter of 2011. The Holidays are coming up and we should see increases in the stock market during the time like we usually do every year. I do hope the issues in Greece is taken care of soon because I believe it has been dragging on for far too long and it needs to come to an end.  I also hope Kodak makes it out okay and finds a decent amount of investors to get the company back on track.

What are your thoughts on the disappointing quarter that we have seen the past three months?

 

Stock Market Continues to Drop

by jscreationzs

As we feared, the downward momentum from the end of last week has continued into this week. Today is the third market day in a row the stock market has been in the red. The market has seen huge drops earlier, with the Dow falling about 4%. But as the markets closed, the losses were minimized and current prices of the four major exchanges are reported below. What has made the downfall even worse is the bad news that has come in from Europe. Investors have doubts about the economies of Italy and Greece.

The Dow Jones Industrial Average fell below the 11,000 mark once again, for the first time in the past 2 weeks or so. Currently it is standing at around 11,139 with a drop of more than 100 points or 0.9%. This definitely is a setback from the huge gains we have seen before the market started its downward spiral last Thursday.

The NASDAQ Composite fell about 6.5 points today and stands at 2,473. The S&P 500 has dropped more than 8 points and is standing at 1,165. And the New York Stock Exchange fell more than 102 points or an almost 1.4% drop and is sitting at just over 7,148.

The market week definitely had a bad start and the weather in the North East doesn’t make it seem any better. At least at the end of last week, the blue skies and outside activities gave people a reason to be out and shop, but today, businesses will suffer on both ends, from the stock market and the consumers being held inside due to pouring rain.

The price of Gold hasn’t changed much since I last reported on Friday. The price of gold is currently $1,877.30, just under a $1 less than what it was on Friday. However, at one point today, the price of gold was well over $1,900 nearing its record. It dropped a little because investors found the opportunity to sell near its highest point. But if the economy in Europe, and in the United States, continue to bring bad news, we can see gold prices remain at its current high price or even go higher.

All of this comes after a long Labor Day Weekend. The bad start seems like what we saw at the start of August. But I am not too worried. These things happen and they will continue to happen. As I mentioned plenty of times, the stock market tends to balance itself out after a point. It rallied for almost two weeks and now it is just balancing itself out again. We just have to hope for the balance to increase in its average price and I believe it will happen sooner rather than later.

The bad news about the job data came in on Friday and I believe that the job report for September 2011 will be better. I also don’t think that we will have to wait for October to get some relief from the stock market’s downward spiral, because the market will balance itself out again and rally again even if it’s for a short time.

All we can do now is hope that the future is better for all of our sake. The stock market is volatile now and as always, this could be the perfect time to invest. And as always, be sure to do your own research because the more volatility that exists, the more risk you’re taking with your money.

Stock Market Going Up and Down Today

by jscreationzs

Earlier today, it seemed as if the momentum of the stock market has stopped for a bit. The Dow Jones Industrial Average was as low as 11,429 today, more than a 100 points below its previous closing price of 11,539. Even with the big swings today, the Stock market finished at a positive with the Dow Jones gaining just 20 points, finishing at 11,559.

The NASDAQ Composite gained just 14 points, finishing off at 2,576. The S&P 500 gained less than 3 points finishing at 1,212. And the New York Stock Exchange (NYSE) finished at $7,462 with a gain of 13.7 points.

It was a fairly slow day in terms of gains for the overall stock market. Most of the banks in the banking sector went down in value including Citigroup (C), Huntington Bancshares Inc (HBAN), JP Morgan Chase (JPM), Bank of America (BAC), and Goldman Sachs Group (GS). They’ve all dropped, but not that much. The drop in the banking sector contributed to the very slow and small gains of the stock market today. The Volume of trades were also low throughout the stock market today. But it could be just the world slowing down for today. I believe that the next three days of trading will be better, well at least I hope it will be better.

After my report yesterday, Gold price was at a steady $1,786 an ounce. Today, it saw a bit of juice as the stock market was going up and down all day long. Currently, Gold is standing at $1,838 an ounce. It gained just over $52 an ounce since yesterday. Slow gains in the stock market usually means a decent gain in Gold. I’m sure gold would have been higher today if the stock market stayed in the red all day. And I am still sticking to what I said yesterday, I still believe the overall average price of Gold will continue to decrease over the next few months. The economy is still recovering and there has been talks of more economic stimuli to come our way which will most definitely help the economy grow a little faster.

Even with the volatile stock market today, we saw small gains. I am thankful that we saw gains. We need to keep the green streak going and keep the momentum up. A positive attitude about the growth of the economy and what we can do to stimulate it can go a long way. Today was a slow day, hopefully the rest of the week sees some more action and sees more green!

Stock Market Bull Market

By jscreationzs

We received news of a huge Hurricane heading to the east coast last week. It had 55 million people in its path. They name it, Irene.

The media told all of us that it could be a big one and could cause a lot of death and destruction. Although it caused a lot of destruction, it was far less than expected. I am here in Queens, New York and I can honestly say that I didn’t even see the storm as a hurricane. I know a lot of people would disagree, but my placement in New York was perfect because the Hurricane barely did damage.

Since Hurricane Irene didn’t cause much damage, the Stock Markets rallied. The damage was far less than previous expected and today investors felt good about the market. This good news came just a few days after FED Chairman Bernanke gave good news about the growth in the US Economy and said that we were going on the right path. With these two factors, the stock market rallied in every sector today.

The Dow Jones Industrial Average soared 254 points today finishing at 11,539 points. We are closing in on the 12,000 mark with the Dow Jones and I hope that the momentum continues throughout the rest of the week so that we can hit that 12,000 mark that we haven’t seen for weeks.

The NASDAQ Composite jumped more than 3.3% today with a gain of 82 points, finishing off at 2,562. The NASDAQ is getting close to its 52 week high of almost 2,900 and hopefully it does. It will signal a great time for the economy because it will truly point towards the fact that it is growing.

The S&P 500 saw a gain of 33 points finishing off at 1,210. And the New York Stock Exchange (NYSE) saw a gain of more than 204 points finishing off at 2,450.

The stock market saw gains everywhere.  Even the price of gold grew from when I reported it’s price Friday evening. I reported that the price of gold was about $1,781 an ounce in my article titled “Stocks Rally After Positive Outlook by FED Chairman Bernanke” on Friday. At this moment, Gold is at a steady $1,786 an ounce. As I mentioned last week, it seems that the price of gold is stabilizing. It has been around this price for days now. It has fluctuated greatly over the weekend, mostly because of Hurricane Irene, but it always goes down to the high $1,700 mark. And since Friday evening, Gold has only gained $5. It could mean that investors are putting their money in stocks and not Gold because they believe the price of gold will not go back up.

I believe that the price of gold will continue to fluctuate over the rest of the week. The price of gold is still very volatile and it can go up and down in huge amounts in short periods of time and without warning. I also believe that the overall average price of gold will continue to drop as the year passes. Lately, we’ve been around the $1,780 mark, and the average price should keep going down as investors see that the price of gold capped out at just over $1,900 less than 2 weeks ago and that the US Economy is on the right track to recovery.

Since I’ve been keeping my eye on Universal Display Corporation (PANL), I’ll give you an update. Today, it was one of the few stocks to actually go down. It only went down $0.49 a share. However in after hours trading, PANL saw another rise of $4.68 per share, or just over 9%. Earlier this evening, PANL has announced that they have made an agreement to work with Panasonic Idemitsu OLED Lighting Co. Ltd. Cooperation between companies is usually a positive thing and this time it was. Investors saw the opportunity  Universal Display Corporation (PANL) has given them because they just opened up to more revenue as the year passes. And now it’s that much closer to it’s 52 week High and I believe it will hit it and maybe surpass it this week if its momentum keeps up.

Overall, Today was a great day for the stock market. Let’s hope it continues for the rest of the week because the US Economy definitely needs a break after what it went through the last half of the summer. We almost went the other way with Hurricane Irene and we probably would have if the damage was any higher. I’m glad that Irene didn’t cause as much damage as previously thought and I hope that all of you and your families are safe!