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Daily Archives: July 1st, 2008

News Byte: Gold & Silver rise again

When investors panic, they turn to things tangible– gold and silver! The Iranian nuclear program just exacerbated the paranoia. From Bloomberg
Gold rose to the highest in almost 10 weeks on speculation that mounting tensions over Iran’s nuclear program will spur investor demand for a haven from market turmoil. Silver also gained.

News Byte: Starbucks to cut as many as 12,000 positions

Wow!
Starbucks Corp (NasdaqGS:SBUX - News) said on Tuesday it plans to close another 500 underperforming stores and eliminate as many as 12,000 fill- and part-time positions.

Say, what the hell’s happening this morning?

Why are RIO and RTP down? IMO, this is what’s going on
First, take a look at how RIO and RTP did with the most recent iron-ore price increase (RIO last increased the selling price of iron pellets to Mittal Steel by 86% on 4/8/2008).