April 2004 Archives

By: Dr. Richard Appel, Financial Insights

Gold, silver, gold and silver equities as well as numerous commodities suffered severe losses during the past several days. Gold and silver after posting highs a few short weeks ago of $432 and nearly $8.50 respectively, struck their recent lows of $390 and $5.99. Both the major gold and silver producers and their junior exploration counterparts followed the metals lead, and quickly sought lower prices. Similarly, additional commodities including platinum, palladium and copper gave back what felt like much of their recent spectacular gains. It is amazing how the substantial paper profits, which were created by the tortuous movements these markets traversed to their recent highs, could so quickly turn into significant losses for latecomers. Yet, even for those early entrants who still possessed massive profits, the precipitous falls sent shudders through their startled, trembling bodies and left them with a feeling of despair. How could this be, muttered a legion of suffering investors and traders, if these commodities and stocks are truly in Bull Markets?

GUANGZHOU, April 30 (Xinhuanet) -- Business deals worth 24.51 billion US dollars, a record high, were struck at the 95th China Export Commodity Fair, that drew curtain in Guangzhou, capital of south China's Guangdong Province, on Friday.

Xu Bing, the spokesperson for the fair, said the volume of transactions at the fair went up 19.6 percent from the previous one, and machinery and electronic products, garments and textiles were the most welcome commodities at the fair.

A total of 159,717 overseas business people from 203 countries and regions visited the fair, up 5.9 percent from the previous fair. Europe, the United States and the Middle East were ranked the top three by business deals done at the fair, said Xu.

China (Guangzhou) Export Commodity Fair, a biannual event held in spring and autumn, is dubbed the "weatherglass" of the country's foreign trade. The first such fair was held in 1957.

Business deals worth 20.49 billion US dollars were done at the 94th China Export Commodity Fair.

Source: China View