You are here
New York Times: The dollar is down but should anyone care?
By Rex Nutting
CBSMarketWatch
Tuesday, November 16, 2004
http://cbs.marketwatch.com/news/story.asp?guid=%7B2C7FC1E7%2D386E%
2D44C0%2D953F%2D658B0C6907AF%7D&siteid=mktw&dist=
WASHINGTON -- U.S. producer prices increased 1.7
percent in October, the fastest rate in 14 years, the
Labor Department estimated Tuesday.
Most of the inflation in finished goods prices came
from volatile food and energy categories. October's
core PPI rate, which excludes food and energy, rose
a more moderate 0.3 percent for the second straight
month.
The headline figure stunned Wall Street economists,
who were expecting a much milder 0.6 percent gain
in the PPI and a 0.2 percent rise in the core rate,
according to a survey conducted by CBS MarketWatch.
The PPI, which advanced just 0.1 percent in September,
is now up 4.4 percent in the past 12 months, while the
core rate is 1.8 percent higher measured over the same
interval.
Finished energy prices jumped 6.8 percent in October,
including a 17.3 percent rise in wholesale gasoline
prices. Similarly, home heating oil prices rose 17.9
percent, while electric power rose 2.3 percent -- the
biggest gain in nearly 14 years.
Meanwhile, finished food prices increased 1.6 percent,
as wholesale vegetable prices skyrocketed 34.2 percent.
Finished capital goods prices increased 0.4 percent,
including a 2.7 percent rise in light motor trucks and a
2.7 percent increase in construction machinery and
equipment prices, a 24-year high.
Finished consumer goods prices excluding food and
energy increased 0.2 percent in October. Passenger
car prices fell 1.3 percent as the government
implemented quality adjustments for the 2005 model
year.
By comparison, price pressures were tamer further
back in the production cycle.
Intermediate goods prices rose 0.9 percent in October,
yielding a 12-month increase of 9 percent.
Intermediate energy goods prices rose 4.3 percent
during October, with core intermediate goods prices
gaining by 0.3 percent. However, intermediate food
prices fell for the fifth straight month.
At the crude level, prices increased 4.3 percent in
October, including a 7.9 percent gain in crude energy
prices. Prices for basic industrial materials climbed
5.4 percent, including a 15.4 percent increase in iron
and steel scrap.
----------------------------------------------------
To subscribe to GATA's dispatches, send an e-mail to:
gata-subscribe@yahoogroups.com
To unsubscribe, send an e-mail to:
gata-unsubscribe@yahoogroups.com
----------------------------------------------------
RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com
http://www.capitalupdates.com/
http://www.silver-investor.com
http://www.thebulliondesk.com/
http://www.goldismoney.info/index.html
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.investmentrarities.com
http://www.kuik.com/KH/KH.html
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm
(In English)
http://www.resourceinvestor.com/
Subscription sites:
http://www.lemetropolecafe.com/
http://www.investmentindicators.com/
http://www.interventionalanalysis.com
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
----------------------------------------------------
COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Blanchard & Co. Inc.
909 Poydras St., Suite 1900
New Orleans, Louisiana 70112
888-413-4653
http://www.blanchardonline.com
Centennial Precious Metals
3033 East 1st Ave., Suite 403
Denver, Colorado 80206
www.USAGold.com
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com
Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net
El Dorado Discount Gold
Box 11296
Glendale, Arizona 85316
http://www.eldoradogold.net
Harvey Gordin, President
Office: 623-434-3322
Mobile: 602-228-8203
harvey@eldoradogold.net
Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
http://www.gloomdoom.com
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com
Kitco
178 West Service Road
Champlain, N.Y. 12919
Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
Montreal, Quebec H3B 1M1
Canada
Toll-free:1-800-363-7053
Fax: 514-875-6484
http://www.kitco.com
Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com
Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
http://www.milesfranklin.com
Contacts: David Schectman,
Andy Schectman, and Bob Sichel
Missouri Coin Co.
11742 Manchester Road
St. Louis, MO 63131-4614
info@mocoin.com
314-965-9797
1-800-280-9797
http://www.mocoin.com
Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com
----------------------------------------------------
HOW TO HELP GATA
If you benefit from GATA's dispatches, please
consider making a financial contribution to
GATA. We welcome contributions as follows.
By check:
Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
Manchester, CT 06043-7541
USA
By credit card (MasterCard, Visa, and
Discover) over the Internet:
http://www.gata.org/creditcard.html
By GoldMoney:
http://www.GoldMoney.com
Gold Anti-Trust Action Committee Inc.
Holding number 50-08-58-L
Donors of $750 or more will, upon request,
be sent a print of Alain Despert's colorful
painting symbolizing our cause, titled "GATA."
GATA is a civil rights and educational
organization under the U.S. Internal Revenue
Code and contributions to it are tax-deductible
in the United States.
