Currencies Stable as Gold Prices Fluctuate; Incomes Lag Behind Housing Costs
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The dollar weakened yesterday but the BBDXY still gained 2 index points. Currencies didn't move much.
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Gold dropped $23 to $1,982 and silver fell 16 cents to $22.91 due to price manipulators. Buying opportunities abound.
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Overnight the dollar sold off, with the BBDXY down 4 index points. Gold rebounded $5 in early trading. No short paper traders seen overnight.
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Median wage last year was just $40,847, leaving the average homeowner with only $78 after mortgage payment. Foreboding signs like this could lead to protests and civil unrest.
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Central banks are unofficially returning to gold to plug losses, wary of asking governments for recapitalization which could undermine independence. This demonstrates gold's monetary importance.