Gold price drop to 17% during October

Gold prices plunged sharply and the worst monthly performance record. The price of gold was recorded down to 17 percent during October, which is the largest monthly decrease in the last 25 years.

Decrease the price of gold is the largest monthly up to 18.2% was recorded in February 1983. The price of gold was penetrate tertingginya level in the U.S. $ 1030.80 per ounce in March 2008.

In trading Friday (31/10/2008), the price of gold traded at the level of U.S. $ 720.35 per ounce, down 2.1% compared to closing Thursday at U.S. $ 735.50 per ounce. Recorded the lowest gold price in U.S. $ 680.80 per ounce on the week.

Gold prices continue to fall in line strengthening U.S. dollar. The strengthening U.S. dollar makes commodities appear to be berdenominasi dollars cheaper.

"The price of gold this move, especially because the currency movement. At the end of the month, due to dollar movements," said Simon Weeks, director precious metals at Bank of Nova Scotia, as quoted from Reuters, Saturday (1/11/2008).

"A key supporter of gold when the dollar is likely that the U.S. will continue to be stronger, and of course it means a negative for gold," said a broker in London.

Precursor Stock Market This Week

Stock market have left the day-to-day worse during the month of October, and ready to step toward a better November. A number of positive sentiment can be expected to encourage stock market direction, the better.

Throughout October, the stock market both global and local rise and fall was penetrate terburuknya point since the Great Abuse era 79 years ago. However, shares in Wall Street may finally close the month of October on the path to the green.

In trading Friday (31/10/2008), the index Dow Jones Industrial Average (DJIA) closed up 144.32 points (1.57%) to a level of 9325.01. Nasdaq also stronger 22.43 points (1.32%) to 1720.95 and the index level of the Standard & Poor's 500 rose 14.66 points (1.54%) to 968.75 level.

Meanwhile IHSG Stock Exchange in Indonesia in late October and significantly stronger after the auto rejection of the boundary opened up to 20%. IHSG closed stronger 82,841 points (7.06%) to the level of 1256.704. LQ 45 index rose 18,587 points (8.34%) to a level of 241,352.

Strengthening throughout the week occurred after the Central Bank from various parts of the world formed a partnership to mitigate the problem of liquidity difficulties. Including the swap agreement, which conducted the central bank.

What are local sentiment throughout this weekend?

* Monday, October 3 2008: Announcement of inflation figures by the Central Bureau of Statistics.
* Thursday, October 6 2008: Meeting of the Board of Governor of Bank Indonesia to determine the number of BI Rate.
* Out a number of financial reports emiten.


Meanwhile, global sentiment that can affect the movement of stock prices is:

U.S. election on Tuesday, 4 November 2008. Investors hope after the election there will be a new fiscal stimulus package or the new regulations to resolve the financial crisis in the U.S..

Friday, 7 November 2008: Release U.S. unemployment data. This figure is expected to give the U.S. economy: the more competitive, or is in the brink of recession.

IMF's Lack of Funds A Hundred Billion Dollars

Being a doctor for the countries of the financial crisis was not easy. The IMF is a source of loans for countries that need financial assistance is precisely the lack of funds.

As presented British PM Gordon Brown, the IMF now require hundreds of billions of dollars as additional funds to help countries that collapse the global financial crisis. Additional funds in an amount not less, it is necessary to prevent the spread of the impact of financial crisis.

"If we want to stop the spread of financial crisis, we need a global insurance policy to reduce the economic pressure," he said as cited by AFP, Sunday (2/11/2008).

Brown, calling the recent visits to Saudi Arabia in order to apply funds from countries that pump oil producers profit from the extraordinary increase in the price of crude oil. He also admitted will be happy to receive investment from financial institutions in the Bay area during the rules and conducted commercial.

"This is why I find additional sources of funds for the IMF-hundreds of billions of dollars more outside the U.S. $ 250 billion that they have provided on-loaned to countries that collapse because of the financial crisis," he added.

Additional funds of hundreds of billions of dollars are believed to be the IMF to Hungary, Ukraine, Iceland Dsn to increase their savings.