March 2013

Precious Metals vs. the Stock Market

For 75 years the stock market has mostly outperformed precious metals like gold and silver. That however is changing, and getting into gold, silver and other precious metals is increasingly seen as a competitive market with stocks. To understand why this is happening, let’s note the important differences between the two financial markets.
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Australian Unemployment Rate Steady in February

Australia’s unemployment rate remained unchanged at 5.4 per cent in February as jobs surged more than expected.

According to the Australian Bureau of Statistics on Thursday, the number of people employed advanced by 71,500 in February from January, compared with an expected increase of 10,000 positions. Analysts expected that the unemployment rate will rise by 5.5 per cent. The country’s participation rate hiked to 65.3 per cent in February from just 65 per cent in the previous month. Read more

Cyprus Bailout Spurs New Fears for the Eurozone

The eurozone faces new fears as Cyprus forced a levy on bank deposits to help secure a bailout plan of 10bn euro agreed in Brussels.

The European Union and the International Monetary Fund requires bank depositors in Cyprus to contribute in the cost of the latest bailout plan. EU leaders want a 6.75 percent tax on bank depositors with less than 100,000 euros and a 9.9 per cent tax on those with more than 100,000 Euros. This is the first time the 17-nation eurozone allowed the people’s savings to finance a bailout. Read more