Monday, April 6, 2009

Banks, Gold Fall in First Minutes

Two from MarketWatch:
Banks fall as analyst sees red

Shares of major U.S. banks fell in pre-market trading on Monday and pressured the broader financial center after an influential analyst cautioned that loan losses in the sector are likely to grow more severe than they did during the great depression....MORE
Gold falls on optimism worst of crisis may be over

Gold futures fell Monday for a third straight session, wiping out their yearly gains, as continuing optimism that world leaders are taking collective actions to tackle the global downturn further reduced demand for safe assets, such as gold.

The weakness in gold prices is "a sure sign risk appetite has increased further following the actions of various governments and central banks as well as the combined efforts of the G20 nations last week," said James Moore, a precious metals analyst at

Gold for April delivery fell $18.50, or 2.1%, to $877.10 an ounce in early North American electronic trading. Gold has lost more than 5% since April 1 and is now down nearly 1% in year. The more active June contract also fell Monday, down 1.9% at $880.20....MORE