The point is, those who are waiting for an issue will have to wait another day.
Here is what I'm reading this morning.
Despite its location alongside the biggest natural gas deposit in the country, the northeast region saw record price spikes on Monday as an unprecedented surge in demand from power plants and homeowners overwhelmed pipelines.
The rise in prices forced spot-market buyers in New York and New England to pay up to 20 times more for their gas than amply supplied hubs in Texas and Louisiana.
Sean's note -- I tell you, something big is brewing in the nat-gas markets. Subscribers to my Gold & Resource Trader have banked a couple rounds of gains on various nat-gas plays; I expect we'll do more of that.
The U.S. oil boom has put European refineries out of business and undercut West African crude suppliers. Now domestic drillers threaten to roil Asian markets and challenge producers in the Middle East and South America.
See also: U.S. Oil Boom Changes Trade Trends
Speaking of which ...
Click through only if you want to be more depressed.
India’s Crisil Research projects that 12 million people willreturn to low-productivity farm jobs by 2019 because of a lack of economic opportunities in the manufacturing sector, unless the government carries out long-debated labor market reforms and improves crucial infrastructure.
Maybe the Chinese know something that US corporations don't. Because ...
TODAY'S GOLD LINKS
Because we can't have a day without gold links, right? Interestingly, the GDX went up even though gold went down yesterday. Hmm ... Anyway:
7. No price recovery expected for gold in 2014 as physical demand drivers trump investment
Gold prices are expected to decline in 2014, as unchanged physical demand does little to counteract a move away from institutional and hedge fund-derived investment in the yellow metal, narrowing the yearly average from $1 411/oz in 2013 to $1 225/oz in 2014, Thomson Reuters GFMS precious metals demand manager Andrew Leyland has asserted.
And yet the analysis at that link includes this phrase: "We continue to see lower gold prices, possible reaching as low as $ 1100 or beyond that at $ 1040. The weekly downtrend remains solid, with a rebound as an opportunity to sell further."
Good times, good times.
9. Here's a new-ish paper on gold and precious metals, with some useful charts. SSRN-id2078535(1)
Just For Fun ...
"Bill, what are you talking about?" Stewart responded. "In fact, I think the only difference between a bong hit and pointing a loaded gun at your own skull is that the gun can kill you instantly and must never be criminalized or restricted in any way ever."
The Daily Show
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Have a great Wednesday.