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October retail sales rose; storm’s effect a concern	19:50 The Seattle Times - Business & Technology
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FOREX-Yen dangles near 4-month low, commodity currencies firm	19:47 Reuters - Economy
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Reviving Japan's Economy With 'Devil Wives'	19:45 Business Week - BW Magazine
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Economy Looking Up Ahead of Big Jobs Number	19:42 Business Week - Daily Briefing
UK economy may grow 1.1 per cent in 2013, euro risks prevail: NIESR	19:42 The Economic Times - International Business
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Slew of economic reports point to better times ahead	19:34 St. Petersburg Times, Florida
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Business briefs: Reports paint brighter picture on economy	19:17 Star-Telegram, Texas
Australian Dollar Outlook - 02/11/2012	19:08 IBTimes.co.uk - Economy
Barrick Gold undershoots expectations	19:08 FT.com - Companies - Mining
Deloitte Directors’ Alert: Boards will need to adjust their strategies in light of the continued uncertainty in the economy	19:07 Deloitte and Touche (Press Release) - Global Press Releases
Dow Blasts Off On Upbeat Economic Data	19:07 The Motley Fool
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Viessmann joins Hexis to deliver high-temperature fuel cells to Europe	18:54 IBTimes.co.uk - Economy
Hopeful consumers give economy a lift before election	18:48 The Salt Lake Tribune, Utah - Money
Signs of economic recovery	18:42 China.org.cn - Opinion - Editor's Pick
Studio apartments enjoy post-recession boom, and they're getting smaller and smaller	18:41 The Oregonian
Rebisco, Asia United owners ink deal with Ayala-A Brown venture	18:39 ABS-CBNNEWS.COM - Business
Oct mfg PMI rises, offers hope of economic revival	18:37 The Economic Times - Economy
Dollar, euro gain in Asian trade after China data	18:30 The Nation - Business
Forex Flash: AUD attractive for carry trade – TD Securities	18:27 FXstreet - Forex News
Aussie Strength Allows Economy to Run Lower Rates, Swan Says	18:25 Bloomberg - Economy
Japan's Pan Pacific sells 120,000 T copper to China for 2013	18:22 Reuters - Consumer Goods & Retail
Gold steady as investors await US data	18:18 The News International - Business
Rupee gains	18:18 The News International - Business
Forex reserves fall to $14.33bn	18:18 The News International - Business
Forex Flash: RBA to cut rates to 3%; it's a close call - NAB	18:17 FXstreet - Forex News
Pimco Seeks Protection From Fed’s Inflation in Australia, U.S.	18:15 Bloomberg - Worldwide
Gold Set to Extend Weekly Advance as U.S. Unemployment May Rise	18:13 Bloomberg - Markets
US stocks rise on strong economic data	18:10 The Arizona Republic - Money
Consumers give US economy a lift before election	18:10 The Arizona Republic - Money
Ministry downgrades economic assessment in 8 of 11 regions	18:08 Asahi Shimbun - Business
You Might Strike Gold With These Stocks	18:07 The Motley Fool
Forex: AUD/USD, sellers trying to soak up +1.04 buys	18:07 FXstreet - Forex News
IMF: Economic Diversification is the Way Forward for Nigeria	18:05 ThisDay Live
Dollar gains on euro amid Greek woes	18:04 IOL - Business
Daily: Slew of economic data suggests global growth is slowing somewhat less rapidly	18:02 Credit Writedowns
Economy warms as factories hum again	18:02 China.org.cn - Business
Gold Traders Most Bullish in 10 Weeks on Stimulus: Commodities	17:57 Bloomberg - Regions
Enterprise Metals encouraged by first gold results at Vulcan	17:57 Proactiveinvestors - Australia
Empire Resources tops up cash to grow copper/gold resource	17:57 Proactiveinvestors - Australia
Forex: AUD/JPY tops ahead of 6-month high 83.60	17:57 FXstreet - Forex News
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UK economy may grow 1.1 percent in 2013	17:48 The Star Online
Procter & Gamble registers record loss of Rs 371 crore in FY12 on Rupee fall	17:47 The Economic Times
Australian dollar slips after soft PPI data	17:44 Business Spectator
Why US Energy and Economic Prospects Improve if Obama Loses	17:41 oilprice.com
The Close Relationship between Economic Growth and Carbon Emissions	17:41 oilprice.com
Brown Thomas sees operating profits rise by 13 per cent to €6.1m	17:38 The Irish Times - Business
October manufacturing PMI rises, offers hope of economic revival	17:37 The Times of India - Indicators
Zephyrhills' roads limiting its economic growth	17:33 St. Petersburg Times, Florida

>Debt Ceiling Threatens to Add Insult to Fiscal Cliff Injury

by Peter A. Grant

Nov 01, AM
(from USAGOLD.com) --

Gold edged modestly higher in overseas trading, setting a new high for the week at 1727.03. While these gains improved the short-term technical picture, they proved unsustainable, and the yellow metal has retreated into the range.

As suggested in yesterday's comment, the market is unlikely to take gold decisively one direction or another ahead of tomorrow's October jobs data (barring any major surprises) and next week's election. Investors as usual will be well served by tuning out the noise and remaining focused on the underlying reasons that they own gold n the first place. I would wager that who sits in the Oval Office doesn't even register for most.

Whomever is sworn in as President in January is going to face all the same problems that we are currently facing: A sluggish economy, chronically high unemployment and an absolute mountain of debt. And despite what seems to be the conventional wisdom, the President has little control over such matters. The power to change the trajectory in these critical areas really lies with Congress.

As if the impending 'fiscal cliff' wasn't troubling enough, it has now become evident that the United States will butt up against it's $16.4 trillion debt ceiling at the end of the year as well. If you recall the partisan mayhem of the last debt ceiling debate, the added turmoil provided by the automatic sequestration spending cuts and the expiration of the extended Bush-era tax cuts threatens to weigh heavily on our already vulnerable economy as 2013 commences.

Treasury has said it is prepared to employ "extraordinary measures" to prevent a default, saying "We continue to expect that these extraordinary measures would provide sufficient 'headroom' under the debt limit to allow the government to continue to meet its obligations until early in 2013." However, the fact that we're even talking about a potential default again — just 15-months after the last debt ceiling crisis, that nearly shut down the Federal government and ultimately led to a downgrade of US sovereign debt — should be extraordinarily troubling to every American.

These are the kinds of things that illicit action from real gold buyers, not who may or may not win an election. Because, as the sub-headline on Matthew Lynn's MarketWatch piece on Germany's gold reserves pointed out yesterday, "There’s something reassuring about physical money."

Peter Grant is USAGOLD's resident economist and a well-known analyst globally in the forex and precious metals markets.

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Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

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>Debt Ceiling Threatens to Add Insult to Fiscal Cliff Injury