Stocks Posted Modest Weekly Losses after Wild Ride (AAPL, BAC, C, COF, CSCO ...
(Tradershuddle.com) – Stocks ended the week losing less than 2%, with the market making wild swings, as participants reacted to the uncertainty of the first ever downgrade of the U.S. credit rating by S&P amid ongoing European debt fears and economic jitters, while gold surged to all-time highs and Treasury yields dropped to record levels. Better than expected economic data at the end of the week along with a temporary short selling ban of banking stocks in Europe helped calm fears despite consumer confidence plunging to its lowest level in more than 30 years.For the week, the blue chip index fell 1.53%; the S&P 500 Index lost 1.72% and the NASDAQ dropped 0.96%.
At the start of the week, stocks plunged on a market rout, posting the worst single session decline since the credit crisis, with the Dow tumbling more than 600 points. Participants fled from risky assets following the S&P downgrade of the U.S. credit rating, which added uncertainty and fear to the ongoing economic jitters. Meanwhile, Gold surged to all-time high and U.S. Treasuries ironically climbed, lowering the 10-year Treasury bill yield to new lows.
In Asia, equity markets were hit hard as confidence in the global economic recovery wane amid S&P downgrading the U.S. credit rating on political risks and rising debt burden. Shanghai was among the hardest hit falling 3.8%, while Hong Kong and the Nikkei fell 2.2%.
In Europe, stocks tumbled to their lowest level in nearly 2-years amid concern the economy will slip into a recession after the S&P first ever downgrade of the U.S. credit rating, while early optimism over ECB intervention on Italian and Spanish bonds faded.
Losses accelerated with the Dow plunging 605 points after S&P added to woes downgrading Fannie Mae, Freddie Mac and Federal Home Loan Bank's debt to AA+ from AAA and after President Obama’s speech did little to reassure the markets.
However the market was able to bounce off the lows as Moody’s also reiterated its credit rating in the U.S. and as S&P said that U.S. corporations rated AAA, will not be affected. But the attempt to rally from the lows faded with the market closing into the lows of the session.
All of the S&P 500 sectors were sold aggressively, with financials, energy, and materials posting the biggest declines, while healthcare and consumer staples posting the smallest declines.
Nc Gold Mining - News
Meanwhile, silver shed 3.9% to close at $37.86 per ounce, as the white metal has been struggling to keep up pace with the gains in gold. Newmont Mining (NYSE:NEM) underperformed in the sector, as shares gained 2.35% to $55.40 after trading as low as
The first gold rush in North Carolina began in 1799 when a 17-pound nugget was found in Cabarrus County at what became known as Reed Gold Mine. The state, with the US Mint located in Charlotte, led the nation in gold production until 1848,
NorthCarolinaMusicHallofFame.org Historic Gold Hill,NC/Gold Hill Mines Historic Park — 19th century living history interpretations and educational tours weekends April-October and weekdays by appointment. Interpretative displays reflect life in the
The studies mentioned by Virginia Uranium include a National Academy of Sciences analysis on the statewide impact of uranium mining and a separate look at the socio-economic impact of tapping the uranium deposit near the North Carolina line.
There are 145 mica mines in South Dakota, but mica is mined in several other states including Arizona, North Carolina, Georgia, New Mexico and South Carolina, with N. Carolina accounting for half the US production. It's been around a long time and has
It's gold! Western North Carolina gold mining photos, legendary ...
America’s first gold rush started in Western North Carolina by a lucky accident. Find out at the Colburn Earth Science Museum in downtown Asheville, that features an impressive collection of gems, minerals, precious metals, fossils and photographs documenting the rich mining history of North Carolina.
It’s gold mine for history buffs, hobbyists and tourists. The museum is open Tuesday – Saturday 10AM – 5PM, Sunday 1 – 5PM. Admission is $6 adults, $5 seniors, students, and children over 4.
The beginnings… (historical data and photos are from the museum exhibit) John Reed, a Hessian soldier in the British Army, settled in Western North Carolina at the end of the Revolutionary War with other German immigrants.
In 1799, Conrad, his 12 years old son, spotted a shimmering yellow rock while fishing on the family farm and brought it home. His parents, not familiar with gold, used the rock as a doorstop.
In 1802, John Reed sold it to a jeweler in Fayeteville, NC for $3.50. He later found out the rock was a large gold nugget, returned to the jeweler and collected an additional $3,000.
And so the country’ first gold fever began!
The Reed farm quickly became the Reed Gold Mine. The creek where the rock was found was rich in gold for nearly a mile, and the area will later yield over 150 pounds of gold nuggets.
By 1803, there were over 600 mines and prospects in Western North Carolina. Most gold was found by panning in streams and using simple rockers. At this time North Carolina was a slave state; historical records suggest that at the height of the gold rush fever as many as 3,000 slaves could be seen working the gravel deposits along a single stream…
A Stanley County farmer, Mathias Barringer, found an outcrop of quartz with a gold vein while following a trail of nuggets upstream.He realized the small nuggets found in rivers were eroded from the exposed gold vein.
Baringer decided to extract gold from the rock rather than the stream, and so the first subsurface gold mine in North Carolina was born.
Prospectors began looking for “color”, the whie quartz vein that indicated the loction of gold. Most were not skilled in subsurface mining; serius accidents and deaths were fairly common.
European immigrants bring in mining know-how Examples include stamp mills, blasting and drilling techniques, mine shafts, drifts, beam reinforced ceilings and walls, and the Cornish-designed buckets (kibbles) that hoisted miners and gold to the surface.
Nc Gold Mining - Bookshelf
Mines, miners, and minerals of western North Carolina, western North Carolina's hidden mineralogical treasures
The Philadelphia Mint minted $1 1 ,000 of North Carolina gold in 1814. During the extensive mining period, it minted $9000000 in North Carolina gold. ...Down the Crabtree
Gold mining in North Carolina has a long and checkered history. Although it is not known when the mining for gold was first undertaken. ...Roadmap to 8th Grade Reading, North Carolina Edition
The gold rush was just beginning at this time. One of the first and most important mines of the gold rush era was the Reed Gold Mine in North Carolina. ...Journal of the Elisha Mitchell Scientific Society
Many of the causes of failure in North Carolina gold mining can be traced to a lack of adequate capital, which prevents mining from being conducted in the ...The Mineralogical record
The visitor's center offers a 20-minute film on the history of North Carolina gold mining, and houses exhibits of gold specimens and mining equipment. ...Information Terminal Directory
North Carolina Gold Mines. Prospecting, Panning, Treasure ...
Facts about North Carolina gold mines and gold prospecting, panning, treasure hunting, gem collecting and rockhounding in North Carolina.
Thermal City Gold Mine
Gold mining and panning, camping, and more.
NC Historic Sites - Reed Gold Mine
From this discovery, gold mining spread gradually to nearby counties ... North Carolina led the nation in gold production until 1848, when it was eclipsed by the ...
The Gold Mine Lenoir - Hudson, NC Diamonds & Chamilia
The Gold Mine owned by Bill & Angie Warren. We offer a huge selection of diamonds, wedding bands, bridal jewelry, engagement rings & The Caldwell Time Company Watch. ...
North Carolina Gold Mines - Associated Content from Yahoo! ...
A list of mines in North Carolina where you can go and try to find your own gold.