Rio Tinto’s Board rejected the offer, but left the door open to a higher bid. Brazil’s (mining giant #2) CVRD (RIO), another Cara 100 company, is expected to work out a deal with BHP to split up Rio Tinto, or else it will make its own bid. This is after all a game of oligopoly control of the world’s base metals resources, which gives these companies absolute pricing power.

As I am in the middle of a blog re-org, I am going to drop the remainder of this section of the Daily Report for today only. I shall return with the usual re-cap on Monday, which for Monday’s as you know is a review of Asia-Pacific and European market trading earlier on that day.

Comments & Outlook

This morning, traders will be listening to Talking Head spin of the important US economic data that is being released at 8:30am ET (1330 GMT), which is the International Trade report and the report on Import and Export Prices. With the recent plunge in the $USD, traders will be more sensitive to any sign that inflation is being imported. Rising inflation, as you know, cuts off the Fed’s ability to lower rates, which is what the economy needs to grow.

At 10:00am ET (1500 GMT), the Reuters/University of Michigan's US consumer sentiment (ie, readiness to spend) index will be reported. This index fell to 80.9 in Oct. from 83.4 in Sept., which was the sharpest drop since catastrophic Hurricane Katrina. A further drop this morning will lead to a further sell-off of US retailers.

As to the rapid fall in the trade-weighted $USD index, I anticipate collective action by the world’s (ie, G-20) CB’s & FM’s (central bankers and finance ministers) to avert a crisis. They have the tools to stop the extreme speculation in the short-term. Further out, say a couple months out, the aggregate capital in the world’s private sector will flow to the points of least risk and greatest opportunity. In that sense, capital markets are free.

But for now, they have ceased to function as an effective pricing mechanism for (i) international trade and commerce, resulting in massive losses for many export-oriented companies subject to rising domestic currencies, and (ii) long-term corporate planning decisions, causing delays in essential capital projects. The end result will be a global recession, possibly depression in some countries, which is the direct opposite of the G-20 mandated goals and objectives.

Links & Charts

You will see that early this morning, Asia-Pacific was mixed (Nikkei 225 and Singapore down) and Europe negative. The Financials are taking further hits.

Fannie (FNM) and Countrywide (CFC) dropped, but US bond prices jumped again as there is a safe-haven rush to fixed-income underway.

The $CRB commodity index lifted +2.95 to 353.96, but may have difficulty surpassing Wednesday’s high of 359.05 for a while.

$WTIC Crude Oil futures closed down -0.70/bbl to 95.67, and looking toppy.

$GOLD was basically flat and also looks toppy, closing at 832.94. I don’t think Wednesday’s high of 848.00 will be surpassed for a while, perhaps not for many months. And, in the interim, I anticipate a strong pull-back due to central bank actions, including the lifting of margin requirements on commodity trading exchanges, which is something I wrote as a possibility just a couple days ago.

At its high of 848, gold had jumped about +5 pct in a week, which is simply too much for central bankers to sit idly by without taking action.

Platinum, palladium and copper were all off yesterday, while silver was strong. Silver may have peaked on Wednesday morning (spot silver at least). The spot price was plunging earlier this morning until a huge jump a couple minutes ago, which could be a Bull Trap.

The Philly Goldminer’s index ($XAU) probably hit its cycle high on Wed., at 195.50, closing yesterday at 189.44.

The Euro was mostly flat yesterday.

Btw, the trade-weighted $USD is comprised as follows:
57.6 pct Euro
13.6 pct Japanese Yen
11.9 pct British Pound
9.1 pct Canadian Dollar (Loonie)
4.2 pct Swedish Krona
3.6 pct Swiss Franc

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International Economics Review

US Economic Calendar.

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Cara 100 Daily RSI-7 Charts

RSI > 70 (6)

RSI < 30 (12 of 26)

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International Equity Markets Review

Europe

Here is the latest session data for the bourses of Europe.

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Here is the latest session data for the London stock exchange FTSE.

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Here is the latest session data for the German DAX.

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Here is the latest session data for the French CAC 40.

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Here is the latest session data for the Milan Italy stock exchange MIBTEL.

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Here is the latest session data for the Swiss market index.

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Asia-Pacific

Here is the latest session data for the Asia-Pacific stock exchanges.

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Here is the latest chart for the Japanese Nikkei 225 index.

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Here is the latest chart for the Singapore index .

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Here is the latest chart for the Shanghai Composite index .

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Here is the latest chart for the Hong Kong Hang Seng index .

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Here is the latest chart for the India BSE 30 index .

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Here is the latest chart for the Australian All Ordinaries index .

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US Equity Markets Review

DJIA (interactive) chart

NASDAQ Composite (interactive) chart

Table: Dow 30 List

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
PG	70.84	1.42	2.05%	3.28%	-0.71%	-1.30%	9.76%	8.72%	14.72%	10.62%
MO	72.72	0.74	1.03%	1.17%	0.64%	3.96%	12.01%	4.48%	5.91%	18.96%
XOM	89.42	2.22	2.55%	1.04%	-2.35%	-3.50%	20.66%	1.73%	9.88%	20.63%
KO	61.47	1.51	2.52%	0.94%	0.28%	7.48%	26.53%	10.04%	15.83%	31.12%
MCD	59.37	0.99	1.70%	0.63%	2.24%	5.55%	35.33%	18.06%	20.38%	41.26%
HON	59.29	0.25	0.42%	0.42%	0.27%	-2.61%	31.46%	2.67%	6.27%	40.07%
UTX	74.70	0.24	0.32%	-0.03%	-1.35%	-5.74%	18.93%	0.88%	9.31%	13.94%
JNJ	64.59	0.68	1.06%	-0.11%	1.00%	-2.06%	-2.73%	3.36%	1.40%	-5.00%
BA	96.28	-0.61	-0.63%	-0.33%	0.29%	0.02%	7.97%	-6.27%	2.20%	12.67%
DIS	33.63	0.13	0.39%	-0.50%	-2.38%	-3.94%	-1.67%	-1.92%	-7.99%	1.60%
AA	37.66	0.26	0.70%	-0.63%	-1.90%	-1.10%	28.40%	1.54%	-4.66%	31.08%
DD	47.54	0.39	0.83%	-0.83%	-1.65%	-2.58%	-3.06%	-3.82%	-7.80%	2.35%
WMT	43.62	-0.31	-0.71%	-0.93%	-0.59%	-6.99%	-8.26%	-9.91%	-9.31%	-7.25%
CAT	72.43	-1.17	-1.59%	-1.20%	-3.00%	-8.82%	18.43%	-10.47%	-1.36%	20.52%
MMM	82.83	-0.44	-0.53%	-1.28%	-3.79%	-12.22%	5.84%	-6.04%	-2.30%	4.29%
INTC	25.93	-0.97	-3.59%	-2.14%	0.17%	1.98%	27.43%	5.08%	17.08%	25.22%
T	39.34	0.68	1.76%	-2.77%	-4.05%	-5.46%	12.56%	-2.50%	0.18%	14.46%
HPQ	49.94	-1.90	-3.67%	-3.03%	-2.82%	-3.24%	19.99%	1.09%	10.95%	28.45%
GE	39.02	-0.06	-0.15%	-3.27%	-2.84%	-6.20%	2.77%	-3.56%	5.23%	9.67%
PFE	23.11	-0.21	-0.90%	-3.51%	-4.86%	-9.19%	-12.10%	-6.10%	-15.50%	-13.19%
JPM	42.61	0.37	0.88%	-3.86%	-7.47%	-8.68%	-11.36%	-8.39%	-18.76%	-10.56%
AXP	56.10	0.73	1.32%	-3.92%	-6.12%	-10.17%	-7.06%	-10.90%	-11.33%	-5.03%
VZ	42.73	-0.37	-0.86%	-4.49%	-4.85%	-6.46%	12.98%	-1.07%	5.19%	15.93%
MRK	54.77	0.57	1.05%	-4.52%	-4.01%	3.26%	24.42%	4.60%	4.84%	23.52%
HD	29.09	-0.25	-0.85%	-5.21%	-5.24%	-12.98%	-29.17%	-23.04%	-24.70%	-21.91%
AIG	56.00	-1.90	-3.28%	-5.55%	-9.37%	-17.80%	-22.38%	-15.76%	-21.95%	-18.10%
MSFT	34.74	-0.78	-2.20%	-6.26%	8.60%	16.15%	16.34%	15.80%	12.98%	19.88%
IBM	106.11	-4.97	-4.47%	-6.63%	-5.94%	-10.11%	9.09%	-6.08%	2.73%	14.60%
GM	33.15	-0.80	-2.36%	-11.01%	-12.05%	-17.10%	12.56%	-3.55%	10.57%	-4.47%
C	32.90	-0.51	-1.53%	-14.57%	-20.20%	-31.91%	-40.45%	-33.52%	-38.76%	-34.94%

You can do this table yourself by entering the following string into the Summaries window at www.billcara2.com and then clicking on the link for Performance.

AA AIG AXP BA C CAT DD DIS GE GM HD HON HPQ IBM INTC JNJ JPM KO MCD MMM MO MRK MSFT PFE PG T UTX VZ WMT XOM

Here are the links to interactive Dow charts from Billcara2.com that I broke into groups of ten, which you can add technical indicators for as well. (list one) (list two) (list three)

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The Americas

Here is the latest session data for the exchanges of the Americas.

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Here is the latest chart for the Brazilian Bovespa stock exchange in Sao Paulo.

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Here is the latest session data for the Toronto Stock Exchange composite index.

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Sector ETF Summary for the US equity market

The tables I show in this section 2007_11_08 are for ten (GICS) Sector Index Funds (ETF’s) only, but they cover the full spectrum of the US equity market.

Table 1: Cara ETF List is sorted by price performance Week over Week (W/W), i.e. 1W%N.

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
XLU	42.26	0.81	1.95%	1.61%	3.12%	2.08%	14.77%	4.53%	-0.33%	18.54%
XLE	75.85	1.30	1.74%	1.51%	-0.11%	-0.91%	34.06%	9.37%	17.00%	31.87%
XLP	28.15	0.20	0.72%	1.08%	0.00%	0.25%	7.12%	1.44%	3.26%	9.58%
XLB	42.40	0.40	0.95%	0.14%	-0.24%	-1.35%	22.51%	5.58%	6.13%	25.97%
XLI	39.71	0.01	0.03%	-0.38%	-1.39%	-3.48%	12.72%	-0.85%	4.34%	14.57%
IYH	69.95	0.28	0.40%	-1.27%	-1.88%	-2.91%	5.25%	1.04%	-3.36%	6.08%
IYZ	30.44	0.30	1.00%	-2.69%	-5.32%	-9.57%	2.63%	-7.22%	-7.20%	5.51%
XLY	34.70	-0.10	-0.29%	-2.94%	-3.96%	-7.86%	-9.92%	-7.66%	-11.77%	-7.05%
SMH	33.05	-0.60	-1.78%	-2.99%	-2.36%	-11.65%	-1.55%	-13.48%	-11.37%	-2.39%
XLF	30.37	0.31	1.03%	-5.33%	-7.13%	-14.18%	-17.74%	-12.60%	-19.42%	-15.00%

You can do this table yourself by entering the following string into the Summary window at Billcara2.com and then clicking on the link for Performance. XLE XLB XLI XLY XLP IYH XLF SMH IYZ XLU . You can also add more ETF’s – up to 30 in total.

For a list of components to any ETF, go to the AMEX.com web site, and click on ETF’s.

10 (energy: XLE)

15 (basic materials: XLB)

20 (industrial: XLI)

25 (consumer discretionary: XLY)

30 (consumer staples: XLP)

35 (healthcare: IYH)

40 (financial: XLF)

45 (technology, semiconductor: SMH)

50 (telecom: IYZ)

55 (utilities: XLU)

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International Equity Market USD-denominated ETF Review

Table 13: International equities via the USD-denominated ETF perspective

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
EWZ	86.15	4.28	5.23%	3.57%	8.39%	10.80%	84.48%	34.02%	57.12%	96.02%
IEV	121.70	1.07	0.89%	0.11%	0.45%	0.04%	15.25%	4.70%	5.09%	18.77%
EWC	35.00	-0.55	-1.55%	-0.37%	3.24%	3.80%	41.70%	15.89%	21.95%	38.61%
EWU	26.15	0.42	1.63%	-1.62%	-0.80%	-1.36%	11.04%	3.89%	3.44%	11.90%
TRF	69.99	-0.22	-0.31%	-2.25%	-0.40%	-0.01%	-20.96%	4.53%	1.76%	1.43%
SPY	147.16	-0.75	-0.51%	-2.56%	-3.08%	-5.33%	4.10%	-1.78%	-2.38%	5.94%
QQQQ	51.73	-1.62	-3.04%	-4.20%	-2.49%	-1.77%	19.63%	5.92%	10.70%	20.22%
EWJ	13.58	-0.22	-1.59%	-4.23%	-2.30%	-6.47%	-4.37%	-5.37%	-6.15%	-0.37%
IFN	55.20	-2.72	-4.70%	-11.25%	-0.09%	-2.42%	21.75%	16.85%	35.19%	16.09%
FXI	184.43	-4.37	-2.31%	-11.35%	-11.12%	-4.14%	58.45%	35.71%	67.33%	109.58%

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Japanese equity market ETF: EWJ

Here is the Japanese (EWJ) equity market ETF Daily data charts:

Interactive EWJ Daily data:

Interactive EWJ Weekly data:

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U.K. equity market ETF

Here is the United Kingdom (EWU) equity market ETF Daily data charts:

Interactive EWU Daily data:

EWU Daily data:

Interactive EWU Weekly data:

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Canada’s equity market

Here is the Canadian (EWC) equity market ETF Daily data charts:

Interactive EWC Daily data:

Interactive EWC Weekly data:

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Bonds & Yields Review

Table 10: US Treasury Yields

US Treasury Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
3 Month	3.28	3.29	3.66	3.88
6 Month	3.54	3.58	3.77	4.07
2 Year	3.46	3.55	3.75	4.12
3 Year	3.41	3.52	3.74	4.16
5 Year	3.81	3.88	4.01	4.37
10 Year	4.28	4.31	4.35	4.65
30 Year	4.66	4.65	4.64	4.86

Municipal Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	3.33	3.32	3.33	3.47
2yr AAA	3.32	3.30	3.31	3.50
2yr A	3.34	3.32	3.33	3.44
5yr AAA	3.46	3.42	3.45	3.55
5yr AA	3.45	3.43	3.47	3.55
5yr A	3.57	3.53	3.56	3.77
10yr AAA	3.88	3.85	3.83	3.82
10yr AA	3.91	3.76	3.74	3.80
10yr A	4.11	4.08	4.06	3.95
20yr AAA	4.46	4.45	4.36	4.12
20yr AA	4.66	4.65	4.56	4.32
20yr A	4.47	4.46	4.37	4.13

Corporate Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	4.43	4.53	4.58	4.83
2yr A	4.64	4.72	4.75	4.96
5yr AAA	4.67	4.77	4.79	4.85
5yr AA	5.11	5.11	5.02	5.18
5yr A	5.00	5.04	5.04	5.31
10yr AAA	5.26	5.34	5.23	5.46
10yr AA	5.70	5.80	5.54	5.70
10yr A	5.88	5.92	5.66	5.78
20yr AAA	5.66	5.10	5.72	5.80
20yr AA	5.95	6.07	5.87	6.04
20yr A	6.12	6.13	6.06	6.14

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Here is the $USB 30-year Treasury Bond chart.

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US Bond Funds -- Interactive Daily Data Charts

SHY Daily data series chart:

IEF Daily data series chart:

TLT Daily data series chart:

AGG Daily data series chart:

LQD Daily data series chart:

TIP Daily data series chart:

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Table 11: Interest-sensitive securities

Sorted by 1-Week Price Performance.

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
TIP	104.44	0.32	0.31%	0.99%	0.97%	3.38%	5.25%	5.20%	3.63%	4.07%
IEF	85.34	0.19	0.22%	0.57%	0.29%	2.41%	3.22%	4.42%	2.76%	2.91%
SHY	81.71	0.13	0.16%	0.49%	0.28%	0.99%	2.09%	1.87%	1.95%	2.05%
AGG	100.45	0.13	0.13%	0.01%	-0.40%	0.81%	0.54%	2.12%	0.39%	0.38%
TLT	90.56	-0.16	-0.18%	-0.21%	-0.17%	2.84%	1.67%	5.11%	2.17%	1.15%
CFC	13.47	-0.16	-1.17%	-6.65%	3.06%	-26.31%	-68.01%	-53.73%	-67.37%	-65.31%
FNM	49.80	0.01	0.02%	-8.62%	-13.03%	-24.49%	-16.81%	-25.39%	-20.27%	-19.22%
FRE	43.82	-1.31	-2.90%	-11.35%	-13.38%	-27.90%	-35.45%	-30.04%	-35.15%	-38.48%

Consumer Finance -USA -- Interactive Daily Data Charts

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Commodities Review

$CRB Index

Open Futures Contracts

Interactive Chart of Daily CRB Commodities Index:

Interactive Chart of Weekly CRB Commodities Index:

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Oil Review

Here is the e-miNY Dec-07 Crude Oil chart.

Interactive Chart of Daily Crude Oil:

Interactive Chart of Weekly Crude Oil:

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Gold & Precious Metals Review

Spot gold chart for the week

Interactive Chart of Daily Gold EOD Continuous Contract Index:

Interactive Chart of Weekly Gold EOD Continuous Contract Index:

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Spot silver chart for the week

Interactive daily data

Interactive Chart of Daily Silver EOD Continuous Contract Index:

Interactive chart of the Silver Bullion index.

Interactive Chart of Weekly Silver EOD Continuous Contract Index:

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Spot platinum chart for the past three days

Interactive Chart of Daily Platinum EOD Continuous Contract Index:

Interactive Chart of Weekly Platinum EOD Continuous Contract Index:

Interactive chart of the Platinum metal index.

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Spot palladium chart for the week

Interactive Chart of Daily Palladium EOD Continuous Contract Index:

Interactive Chart of Weekly Palladium EOD Continuous Contract Index:

Interactive chart of the Palladium metal index.

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Interactive Chart of Weekly Copper EOD Continuous Contract Index:

Interactive Chart of Daily Copper EOD Continuous Contract Index:

Interactive chart of the Copper metal index.

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Table 12: Senior gold equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
GFI	18.93	0.83	4.59%	9.30%	5.75%	2.05%	3.27%	22.05%	6.29%	6.59%
NEM	54.06	-0.15	-0.28%	9.19%	17.09%	14.95%	22.31%	27.68%	29.39%	19.87%
ABX	46.21	-0.03	-0.06%	8.73%	9.32%	10.10%	54.91%	35.51%	48.25%	57.07%
BVN	61.00	0.10	0.16%	7.49%	18.29%	18.91%	120.93%	54.78%	75.89%	126.18%
GG	35.82	-0.44	-1.21%	5.66%	10.90%	11.76%	31.02%	39.43%	45.67%	35.43%
AEM	55.08	-1.30	-2.31%	0.31%	5.01%	0.71%	41.52%	23.33%	54.85%	44.49%
MDG	38.97	-1.38	-3.42%	-0.99%	1.62%	4.37%	48.23%	38.34%	51.05%	46.72%
AUY	14.20	-0.45	-3.07%	-1.46%	2.08%	5.58%	15.17%	26.11%	-0.14%	27.13%
KGC	19.03	-0.98	-4.90%	-2.21%	8.74%	18.42%	66.64%	44.94%	38.30%	61.13%

To watch the moves in precious metal miners, you will have to monitor the individual stock charts, preferably in real-time, as follows:

NEM ABX AU GFI GG HMY AUY KGC BVN
Interactive Daily data
Interactive Weekly data

MDG LIHRY AEM BGO IAG EGO RGLD GOLD CDE GRS
Interactive Daily data
Interactive Weekly data

CBJ SSRI SIL NG KRY UXG GRZ TSE_HRG TSE_GUY TSE_AGI
Interactive Daily data
Interactive Weekly data

NXG GSS MNG DROOY MFN RNO RANGY MRB CLG
Interactive Daily data
Interactive Weekly data

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Here are the key Silver miners and the SLV ETF:

SLV SIL CDE HL PAAS SSRI SLW MGN

Interactive Daily data
Interactive Weekly data

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Here are the Weekly and Daily Data charts of the indexes:

Interactive Chart of Daily U.S. Goldminers Index:

Weekly U.S. Goldminers Index:

Interactive Chart of Weekly U.S. Goldminers Index:

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The U.S. goldminer share trust ETF trades under the ticker symbol GDX.

Here are the U.S. Goldminer ETF (GDX) index Weekly and Daily data charts:

GDX Daily data:

GDX Weekly data:

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The Toronto Exchange-listed goldminer iUnits S&P/TSX Capped Gold Index ETF trades under the ticker symbol TSE:XGD. Yes, just like GDX on the AMEX, you can trade XGD on Toronto.

Here are the Weekly and Daily data charts for the TSX Goldshares (XGD) index:

Interactive Chart of XGD Daily data:

Interactive Chart of XGD Weekly data:

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Forex Review

Here is the chart of the week’s trading in the $USD.

Interactive Chart of Daily U.S. Dollar Index:

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Interactive Chart of Daily Euro Dollar Index, priced in USD:

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Daily British Pound Index:

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Daily Japanese Yen Index:

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Daily Canadian Dollar Index:

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Wrap up:

Have a great day, stay connected and try to join the Discourse in the Community Chat blog.

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