Android app on Google Play

Dollar Down, Gold and Silver Up; New 52-Week Highs

November 7, 2007 1:27 PM EST Send to a Friend
As the U.S. dollar continues to weaken, it should be easy for investors to notice that the currency trades in opposition to commodities such as gold and silver: the dollar is at an all-time low compared to the euro at the same time that the price of gold is approaching a historic high. This assumption works because most commodities are denominated in the dollar, allowing investors trading in currencies other than the dollar to buy precious metals, for example, much cheaper. Gold is currently trading at about $840 an ounce, only $10 off its all-time high around $850. This appreciation of precious metals against the weak dollar is greatly benefiting many companies in the gold and silver industry. Yamana Gold (NYSE: AUY), Goldcorp (NYSE: GG), Silver Wheaton (NYSE: SLW), Kinross Gold (NYSE: KGC) and Hecla Mining Company (NYSE: HL) are all trading around multi-year highs.

Nokia (NYSE: NOK) has today set a new 52-week high for the second day in a row. Yesterday, AIS Thailand, Thailand's largest provider of mobile devices, announced its selection of Nokia's Intellisync Mobile Suite as its standard platform for mobile applications. Shares of Nokia continue to see upside today after it made comments that it has not ruled out plans to take part in Google's new mobile software alliance.

DirecTV (NYSE: DTV) today reported Q3 EPS of $0.27, versus the consensus of $0.29 and revenues came in at $4.33 billion versus the consensus of $4.25 billion. Shares of DirecTV have gone as high as $27.73 today, marking a new 52-week high. Despite missing the Street's earnings number, shares surged more than 3% as a result of an 18 percent rise in sales from the same period last year.

To see all the Special Reports for today go to http://www.streetinsider.com/Special+Reports



You May Also Be Interested In


Related Categories

Special Reports

Add Your Comment