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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (73070)	7/8/2001 9:55:11 PM
From: Rarebird	Read Replies (1) \| Respond to of 116756

In response to rising costs and falling profits, companies have cut back the rolls and laid off workers. I see weakness in the job market for the duration of the year. The deterioration in the labor market is evident in the shrinking percentage of people voluntarily leaving jobs. As of June, 12.5% of the unemployed were leaving jobs voluntarily, down from 13.1% in May. That figure hit an all-time high of 14.7% in October, when the job market was much tighter and workers felt more confident in their job prospects. Job prospects have declined significantly in recent months, with the percentage of people believing jobs are hard to find growing each month. The bulk of the job loss was in the manufacturing sector. The manufacturing sector has now lost 347,000 jobs over the last three months. It sure looks like a recession in manufacturing. Historically there has never been a recession in manufacturing that has not spread to the broader economy. On another note, the implications of AMD's miss are clear - the PC business is seeing mix migrate towards the low end at a dramatic rate. Intel is feeling the impact of the shift as well, although Intel has been able to cushion the shift a little bit as a result of server and workstation MPU sales. The Bond market is acting as if it believes in a standard U.S. led global recovery. But equity markets appear frightened that it might not happen at all. One of the key indicators I closely look at for direction in regard to the POG is the Utility Index. The recent "flight" to Utilities is NOT Bullish for Gold. John Murphy has provided a nice chart here. Scroll down: murphymorris.com PS What is this most recent obsession with Ken Benes all about? Do you really think that his broken record has any impact whatsoever on the gold market? Birds can get entangled with their feet and men by their tongues.