Gold Loses Some Glitter While Stocks Shine
What happened to the gold rally? Speculators in gold futures bailed out this week right after gold
prices had rallied to a 15-month high. Wednesday’s trading saw the biggest one-day decline in a year
and a half. Some speculators are saying gold prices rallied on fears of inflation which may result from
the Federal Reserve’s recent interest rate cuts. But with no signs of inflation on the horizon the gold
rally has sputtered.
Money has been flowing into stock mutual funds however, with more than $19 billion of new net
cash funds in April, as small investors reacted to the rebounding stock market. So far, May is also
looking good and while few expect it to surpass the boom in April, it is a very good sign.
The Nasdaq index had risen 41% between April 4th and May 22nd and while there appeared to be
some profit taking this week, the market does appear stable, which is a lot more fun than what had
been going on in the first quarter.
The effects on the Bush Administration Tax Cut are making news as rebate checks to taxpayers will
be in the mail later this year and states across the country are pondering how they will deal with the
loss of their shares of Federal Estate Tax Revenue as the “Death” Tax is being phased out.
It would be bad PR for the states to publicly denounce the repeal of the estate tax and it’s pretty tough
to feel sorry for them.....
This Week on Emerging Company Report-Safety Solutions for School Buses; Profitable Gold
Mining in a Volatile Market
Hollywood, CA-Emerging Company Report is the nationally syndicated television program profiling
emerging-growth
companies (http://www.emergingcompany.com), featuring informative interviews with the CEOs,
insights into their operations and outlooks for their futures.
Featured companies on this week’s edition include;
Steve Rosenthal, Ed.D., President of The Majestic Companies, Ltd. (OTC-BB: MJXC) spoke of his
company’s recent progress and developments with their Safe-T-Gard people deflector, a patented
safety product that has been designed to reduce injuries and fatalities as a result of children in the
loading zone being run over by the rear wheels of a school bus. National Sales Director Charla Little
announced that a school system in Virginia has issued a letter of commitment to take steps necessary
to adopt the SAFE-T-GARD for use on their entire fleet of school buses.
Marc Oppenheimer, CEO of Crystallex International Corporation (AMEX: KRY) appeared on the
program to announce the company’s ninth consecutive profitable quarter. “Our business model is
designed for profitability at a gold price of $250.00” he said. “Even with the recent dip in gold
prices to $265.00, we have been able to maintain that.”
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