Re: Investment Demand for Gold.......
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TODAY'S DISCOVERY, TOMORROW'S FUTURE
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Message: Re: Investment Demand for Gold.......
This out on the diamond trade..sad movies here too..
| Market Comments 2/6/2009 | |
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| Posted: 02/06/09 01:00 | |
| Trading moving to cash buyers at highly discounted prices as liquidity and credit concerns dominate cutting centers. Dealer sentiment improving slightly as better goods up to two caraters begin to move. Very large stones very weak. U.S. big box retail sales plummet in Jan. with reports that jewelry was among the weakest sellers. Saks -23% to $147 mil., same store sales -24%; Neiman sales -23% to $223 mil., same store sales -24%; Macy’s -5% to $1.2 bil., same-store sales - 5%; JCPenney sales -16% to $983 mil., same-store sales - 16%; Nordstrom – 4% to $468 mil., same-store sales -11%. Fortunoff files Ch. 11 bankruptcy. Jewelry retailers post negative sales: Signet 4Q sales -19% to $1 bil., same-store sales -15%; Finlay 4Q -20% to $307 mil.; Gitanjali 3Q sales -11% to $228 mil., profits -42% to $6 mil. Su-Raj Diamonds 3Q sales +3% to $121 mil, profits -86% to $510K. BHP 1H diamond sales +9% to $457 mil., but profits -88% to $9 mil. |
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