Dismiss Notice
You are browsing this site as a guest. It takes 2 minutes to CREATE AN ACCOUNT and less than 1 minute to LOGIN

Gold hits $1,000 for first time

Discussion in 'Jukwaa la Siasa' started by BAK, Mar 13, 2008.

  1. BAK

    BAK JF-Expert Member

    #1
    Mar 13, 2008
    Joined: Feb 11, 2007
    Messages: 50,060
    Likes Received: 9,769
    Trophy Points: 280
    Gold hits $1,000 for first time
    BBC News Online

    The price of gold reached a record, trading at $1,000 an ounce for the first time, pushed higher by a weak US dollar and fears about the US economy.
    Concerns about a possible US recession are seeing investors buy up commodities such as gold as an alternative to company shares and the US dollar.

    Since the beginning of the year the value of gold has increased by about 20%, after it rose 32% in 2007.

    Gold will stay high as long as dollar and growth fears remain, analysts said.

    "Every bit of bad US economic data boosts gold in two ways," said Fortis Bank.

    "First because it reinforces the return of its role as a safe-haven asset, and second because the dollar falls on expectations of further Federal Reserve rate cuts."

    Gold is measured and sold in troy ounces. One troy ounce equals 31.1035 grams or 480 grains. One troy ounce is equal to 1.09711 avoirdupois ounce - those widely used to measure weights in the US and UK.

    Short term fix?

    The dollar fell further on Wednesday against key currencies, including the euro and Japanese yen.

    At one point, it was worth less than 100 yen for the first time since 1995, while it plumbed new depths against the euro at $1.562.

    Analysts are predicting that it could fall further as more details emerge of the losses suffered by banks and hedge funds due to investments centred on the troubled US housing market.

    Already many companies have unveiled billions of dollars of losses which has caused credit markets to freeze and has created an environment where there is less money available for consumers and businesses to borrow.

    At the same time, there are increasing signs that the US is on the brink of recession.

    Official data out on Wednesday showed disappointing retail sales in February.

    This has added to the recent drum beat of bad news, including a shrinking of the service sector in January and February, and an unemployment rate that is at its the highest level for five years.

    'Cut and inflate'

    Despite aggressive interest rate cuts and White House measures to stimulate consumer spending, it is expected that US rates - currently at 3% - will have to come down further.

    Analysts said this will weaken the dollar further and accelerate inflation.

    "The Federal Reserve is going to cut and inflate our way out of this credit mess and the implications are going to be higher and sustained inflation," said Ichael Darda, of MKM Partners.

    "That's been signalled by not just gold but by virtually every commodity and the dollar."

    The oil price surged to a fresh high above $110 a barrel earlier, while agricultural commodities, including cocoa and coffee, also rose.
     
  2. M

    Mwafrika wa Kike JF-Expert Member

    #2
    Mar 13, 2008
    Joined: Jul 5, 2007
    Messages: 5,195
    Likes Received: 7
    Trophy Points: 0

    Hapo sasa,

    Kikwete na wenzake kina Sinclair wanachekelea kwa faida wanayopata kwenye migodi ya madini, watanzania wanaendelea kufa kwa kukosa madawa.

    Shame on you Kikwete! Shame on you!
     
  3. BAK

    BAK JF-Expert Member

    #3
    Mar 13, 2008
    Joined: Feb 11, 2007
    Messages: 50,060
    Likes Received: 9,769
    Trophy Points: 280
    Wakati wa kampeni zake 2005 alituahidi kuiangalia upya mikataba ya madini, miaka inakatika tu na hakuna chochote kinachofanyika. Wakati Barrick na akina Karamagi na wenzie (shareholders wa Barrick) wakiendelea kutajirika na bei kubwa ya dhahabu katika soko la dunia, Watanzania bado hatujanufaika kwa chochote kutokana na rasilimali yetu hiyo.
     
  4. M

    Mwafrika wa Kike JF-Expert Member

    #4
    Mar 13, 2008
    Joined: Jul 5, 2007
    Messages: 5,195
    Likes Received: 7
    Trophy Points: 0
    Katika ziara aliyofanya juzi hapa marekani na kukutana na kina Sinclair, kuna habari mbaya sana zinaanza kutoka za kumhusisha Kikwete na hii mikataba ya kinyonyaji ya madini.

    Kumbuka pia kuwa Sinclair alichangia pesa kwenye kampeni ya Kikwete na kila mara anajisifia hapa marekani kuwa yeye ni rafiki wa karibu wa Kikwete...

    Hii dhahabu itafika hata dola 2000 lakini Kikwete na wenzake ndio wataendelea kufaidi na watanzania wakiuliza basi nadhani wataambiwa kula nyasi kama Mramba alivyosema!
     
  5. M

    Mafuchila JF-Expert Member

    #5
    Mar 13, 2008
    Joined: Apr 29, 2006
    Messages: 752
    Likes Received: 22
    Trophy Points: 35
    Hizi nihabari mbaya sana kwa Watanzania ambao wameshasainishwa mikataba na kina Karamagi ya miaka 50 ambayo terms of contract ziko fixed regardless changes kama hizo zinazotokea na kupanda kwa bei kwenye soko la dunia.
     
  6. M

    Mwafrika wa Kike JF-Expert Member

    #6
    Mar 13, 2008
    Joined: Jul 5, 2007
    Messages: 5,195
    Likes Received: 7
    Trophy Points: 0
    Taratibu tu watu wa Buzwagi na kwenye migodi ya madini watajua hili na kitakachofuatia ni MUNGU tu ndiye ajuaye!

    Kikwete na serikali yake ya ccm wanapeleka nchi hii kubaya na sio tunawaomba kwa nia nzuri kabisa waache haya ila wao wamekataa kabisa kusikia.
     
  7. BabaH

    BabaH JF-Expert Member

    #7
    Mar 13, 2008
    Joined: Jan 25, 2008
    Messages: 704
    Likes Received: 1
    Trophy Points: 35
    Mi naona Bora vita ianze
    na vita hii itakuwa kati ya wanaunga mkono serikali na wasiokubaliana na seriakali
    Najua watu tutapoteza maisha ila ikiisha mambo yataeleweka, Ninaanza kutafuata wafadhili wa silaha kama mko tayari, silaha sio tatizo, tatizo ni watumiaji
    Kama mpo semeni tuanze mambo, tuchape mafisadi wote
     
  8. M

    Mwafrika wa Kike JF-Expert Member

    #8
    Mar 13, 2008
    Joined: Jul 5, 2007
    Messages: 5,195
    Likes Received: 7
    Trophy Points: 0
    Haya ya vita mkuu sijui kama ni solution. Baada ya vita kuisha utaweza vipi kukusanya silaha zako na kuzirudisha kwenye hazina ya silaha?
     
  9. M

    Mafuchila JF-Expert Member

    #9
    Mar 13, 2008
    Joined: Apr 29, 2006
    Messages: 752
    Likes Received: 22
    Trophy Points: 35
    Vita inaweza kuanza, tatizo wa kuimaliza. Kwani itakapoanza wengi watapata ajira ya kudumu kwa gharama ya damu za watu, sina hakika kama watakuwa tayari kurudi kwenye maisha ya kawaida ambayo yanatawaliwa na sheria.
     
  10. Mahesabu

    Mahesabu JF-Expert Member

    #10
    Mar 13, 2008
    Joined: Jan 27, 2008
    Messages: 4,604
    Likes Received: 279
    Trophy Points: 180
    WHILE WACHACHE WANAFAIDI THE NATION CAKE......WENGI TUNAUMIA...!
     
  11. Mpita Njia

    Mpita Njia JF-Expert Member

    #11
    Mar 13, 2008
    Joined: Mar 3, 2008
    Messages: 7,014
    Likes Received: 17
    Trophy Points: 135
    kwani haya maisha tunayoishi kuna sheria gani inayotusaidia? Si afadhali tupigane tu mwenye kufa afe na iwapo vita itamalizika basi watakaokuwa wamesalimika wanaweza kuwa na akili na kuishi kama binadam anavyostahili kuishi.
    Hawa mafisadi wanatufanya tuishi kama wanyama, tena ahadhali hata wanyawa huwa wana aina fulani ya utaratibu katika jamii yao ambao unahakikisha kuwa haki inafanyika,lakini hawa mafisadi wanajifanyia haki wao tu! Huu si uungwana hata kidogo
     
  12. Nemesis

    Nemesis JF-Expert Member

    #12
    Mar 14, 2008
    Joined: Feb 13, 2008
    Messages: 3,263
    Likes Received: 214
    Trophy Points: 160
    Tanzania is the third producer of gold in Africa!!!! but only no/little impact on economic and social development. Now let it give impacts on political affairs.
     
Loading...