The International Monetary Fund is selling its gold. Maybe you should, too. The IMF approved a plan to sell up to 400 tons — enough...
The International Monetary Fund is selling its gold. Maybe you should, too.
The IMF approved a plan to sell up to 400 tons — enough for 360 million wedding bands — to close a large budget deficit. The news has not had a big impact on gold prices, says RBC Capital Markets analyst Stephen Walker. Gold is about $928 an ounce, off its high in March above $1,000.
But, he writes in a recent report: “We believe investors should take profits ahead of the end of a Fed rate-cutting cycle, and ahead of the seasonally quiet period for gold and gold equities in June, July and early August.”
When U.S. interest rates eventually rise, the dollar’s value could increase, which may pressure gold prices. Gold is seen as a hedge against dollar weakness.
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At most corporations, directors can win a board seat even if they don’t win a majority of the votes cast, let alone a majority of all shares.
It’s a perennial complaint of institutional investors. They say the lack of rules calling for directors to receive a majority of votes makes the directors less accountable to their bosses — shareholders.
In a new study of 3,000 public companies by the Corporate Library, 28 directors failed to earn a “yes” vote from a majority of shareholders. The Council of Institutional Investors urges directors who fail to win a majority of votes cast to resign.
Confused by the difference between adjustable, fixed-rate and balloon payments on mortgages?
A new site created by the American Bar Association — SafeBorrowing.com — offers a glossary, educational podcasts and other features to make sense of mortgage gobbledygook.
“When you sign a contract to take out a loan, what you don’t know absolutely can hurt you,” says ABA President William H. Neukom. “Borrowers must know their rights and responsibilities under the law.”
The Associated Press