June 2010 Archives

Should the need ever happen; there are multiple ways to send money to Mexico, each with its own set of standards that rules how the money is sent. Service cost, safety and security levels as well as the amount of time it takes for cash to be wired and received can vary.

On occasion though, time becomes a important matter, needing the cash to arrive in a rather expedient time frame. When a emergency arises and time becomes the utmost important aspect in finishing a wire money transfer, it is especially important to know what options might work best for you and your position.

The most crucial thing to consider in a hasty situation of this kind is that there is no need for alarm or fear. There are several methods available to you that will get the job done rapidly and simply.

If you are in an opposite reverse, where time is not a issue, preparing before the need arises, is always a good idea. For example, if you have a son or daughter that will be spending time in Mexico, it would be a great idea to have framework in place so that a money transfer can be made with quite short notice, if at all necessary.

The ATM card is a wonderful choice for this sort of situation or for this kind of traveler. For some, you can trust the recipient enough to have a non-denominational card assigned to their name, which is then connected to your savings or checking account.

As long as they have the card in their ownership and the relating PIN number, they will be able to access the money through any ATM machine, as often as necessary. If you choose the later of the two previously discussed options, remember that the cardholder will have access to your account at all times (and they may not wait for an occasion that you would consider a crisis situation, to access funds).

The reality is that in many cases, we in fact, do not want the card recipient to have total and unmonitored access to the funds in our account(s). Because of this fact, a preloaded debit card is the ideal solution.

A preloaded debit card is a card is just like any other typical debit card except for the fact that it is preloaded with a specific amount of funds, thus, providing a definite limit. Once all the money has used, the cardholder no longer has access to any more funds, unless the sender refills the prepaid debit card with more funds.

With either option that you choose, opening an account with a bank that has branches both in Mexico and in the US will help to make a transfer between accounts trouble-free. Taking a safeguard of this kind, along with everything else formerly discussed, will ensure a safe and timely transaction.

 On Wednesday, weak U.S. housing data helped send gold to a
low below $1,230 an ounce, but its recovery since then on
bargain-hunting eased bearish views that gold cannot be an
exception when a sell-off hits other commodities and stocks.

 Spot gold XAU= was at $1,235.20 an ounce at 0237 GMT,
unchanged from the notional New York close, and hovering well
below Monday's record around $1,264.

 "Gold looks resilient to downside risk because vague fears
are still hanging over markets. Visibility is low in terms of the
euro and the economy," said Tetsu Emori, general manager at
Tokyo-based fund manager Astmax Co.

 Technically, gold is expected to revisit Wednesday's session
low of $1,224.30, its lowest in more than a week, as a pullback
towards the trend line could have completed. [ID:nSGE65N00V]

 The low was hit after a report showed sales of new U.S. homes
dropped a record 32.7 percent in May to the weakest level in at
least four decades. 

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5. Company owners can use prepaid agenda in paying employees. Sending agent salaries via prepaid cards are not alone acceptable it is aswell a safer way of managing your company's payroll. This is advantageous for advisers as able-bodied back they can accept to abjure their accomplishment at their a lot of acceptable time.

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7. Prepaid debit cards are easier to account than acclaim cards. Acclaim agenda companies appoint added requirements for acclaim agenda applicants. On the contrary, anyone can administer for a prepaid debit agenda and get an approval. In fact, humans with bad acclaim or low acclaim array can administer for a debit agenda to advance their acclaim status. Once their acclaim is improved, they can account of acclaim cards with bigger ante after accepting beneath or refused.

The S&P/TSX Composite Index (THE:CA:$ISPTX) closed up 17 points, or 0.1%, to 11,962 after flirting with the 12,000 mark midday.

Gold prices hit a closing and intraday record Friday. Canada's largest gold companies -- Barrick Gold Corp. (THE:CA:ABX) and Goldcorp Inc. (THE:CA:G) -- made substantial strides, closing up 2.8% and 1.5%, respectively.

Gold for August delivery rose $9.60, or 0.8%, to settle at $1,258.30 an ounce. Gold, which is up 15% for this year, has been on a winning streak for nine weeks as more investors snuggle up to the safe-haven asset on economic uncertainties, particularly in Europe. Read more about gold futures.

Canada's most heavily-traded index of the day -- The S&P/TSX Capped Financials index (THE:CA:TTFS) -- was up 0.3% and traded well above average daily volume. Power Corp. (THE:CA:POW) was up 1.4% as Canadian Western Bank (THE:CA:CWB) fell 0.1%

And as crude-oil futures added 39 cents to settle at $78.01 a barrel, the S&P/TSX Capped Energy Trust (THE:CA:TTEN) bumped up 0.2%, led by Trinidad Drilling (THE:CA:TDG) .

The S&P/TSX Capped Diversified Metals index (THE:CA:TTMN) closed flat, with Major Drilling Group (THE:CA:MDI) as the top advancer and Equinox Minerals (THE:CA:EQN) as the main decliner.

SAN FRANCISCO (MarketWatch) -- Gold futures climbed to a closing record high on Friday as more investors jumped into bullion's bandwagon, eager to chase better returns and wary of riskier bets such as stocks.

Gold for August delivery rose $9.60, or 0.8%, to settle at $1,258.30, surpassing Thursday's record close of $1,248.70 an ounce.

"People are tired of their 0% T-bills, afraid of the stock market and afraid of the double-dip recession," said James Cordier, a portfolio manager at OptionSellers.com in Tampa, Fla. "People are pouring into gold even at this high level."

The Swiss franc has swept up to yet another record high against the euro after the country's central bank stepped back from its policy of seeking to hold the franc down.

The contract hit a record intraday high of $1,263.70 an ounce in electronic trading, according to the CME, which owns Comex.

On Thursday, the August contract gained 1.5% to the record settlement, which supplanted another high-mark closing achieved only last week, on June 8.

Gold has gained 2.3% on the week, notching its fourth straight week of gains.

So far this month, prices are 3.6% higher and on track to post its third straight month of gains following May's 2.9% and April's 5.9% advances, according to FactSet Research.

The June 8 record was met with some profit-taking, but the latest closing record was met with even more buying.

Investors who waited for a pullback that never came jumped in, afraid to miss gold's run, even if it means buying at the peak, said Adam Klopfenstein, a senior market strategist at Lind-Waldock in Chicago.

"There's big money that wants to own gold," he commented. No one feels economic problems across the Atlantic and in the United States are really solved, Klopfenstein added, and are afraid of more credit concerns that "will show themselves in the future."

Frank Lesh, a broker and futures analyst with FuturePath Trading in Chicago, said he's confident gold will keep breaking new ground in the near future, perhaps achieving $1,300 as early as July.

"This has been a steady gain" on a sustainable pace, he noted, and many investors hold long positions in gold, or bets prices are going to go up.

People are looking for investments where they can make money, perhaps not a lot of money, "but at least not lose money," according to Lesh. "At the present time, gold fits the bill."

Stocks opened modestly higher on Friday, seesawed in early session but found a firmer footing later in the day. 77398

The dollar index (BOARD:DXY) , which compares the U.S. unit against a basket of six currencies, was flat at 85.69.

As an indication of rising investor interest in gold, holdings at SPDR Gold Trust (CONSOLIDATED:GLD) rose to a fresh record on Thursday, the latest day for which statistics are available.

The fund, the largest exchange-traded fund backed by gold, reported holdings of 1,307.96 metric tons of gold (1,441.77 short tons).

Oil and other commodities such as copper were trading lower on Friday. Most metals, however, tracked gold's rise.

Silver for July delivery added 41 cents, or 2.2%, to $19.18 an ounce, the highest close since mid-May.

July platinum added $15, or 1%, to $1,587 an ounce. Copper for July delivery was down 2 cents, or 0.7%, to $2.88 a pound.

On Friday morning, spot gold prices traded as high as $1,260 per ounce as investors look for safety in the precious metal.

Most of this morning's gains can be attributed to gold buying as the U.S. dollar is trading close to even against other major currencies. Over the last two and a half months, gold prices have advanced more than 10%, while major gold miners have topped those gains, even as the general markets have faltered. Goldcorp has advanced more than 16%, Barrick Gold has picked up a little more than 14%, Newmont Mining has gained more than 13% and AngloGold Ashanti has added 13% as well.

NEW YORK (MarketWatch) -- Gold jumps as stocks slump. Gold bugs are increasingly confident -- even though gold shares continue oddly weak.

The yellow metal bounced off the ropes ferociously on Friday. After two weak days, the metal slipped below $1,200 spot as New York was opening. Then, as it became clear how ghastly the day was going to be in the financial markets generally, a powerful $20+ rally set in.

From a relative strength point of view, this was a spectacular performance. Everything else was down horrifically, except U.S. Treasurys, and the U.S. dollar -- usually gold's adversary.

Gold in other currencies did even better. In fact, gold in euros closed at a record high. This will greatly delight The Gartman Letter, which can claim to have pioneered trading gold in this way, and which was expanding its positions this week.

Can gold really be a safe haven at present? Dow Theory Letters' Richard Russell answers emphatically yes -- in fact, his anti-stock market and pro-gold advocacy this week is the most strident I can remember.

And Friday repaired a lot of technical damage. At veteran gold observer Jim Sinclair's JSMineset site, correspondent "Trader Dan" said in his daily analysis:

"Gold rebounded sharply ...through the 10-day and 20-day moving average and...above all the moving averages once again.

"Price action indicates the presence of strong buying support on dips with the usual suspects active on the rally...this price action is giving the physical market buyers time to become acclimated to the new and higher price level above $1200."

This conforms to the position taken at Bill Murphy's LeMetropoleCafe webzine, which among many other things watches Eastern gold prices as measure of physical market vitality. A piece posted on Friday was laconically entitled "India buys," and also noted that Vietnam, an interesting newly-significant gold market, appeared to have moved to the buy side as well. Stories about strong gold buying by European Central Bank-despising Germans have been appearing here and elsewhere for several days.

All of this gives resonance to the remarks of another Old Gold Hand, Harry Schultz, in his GCRU service on Wednesday morning:

"Bullion's capacity to shrug off the shackles of intervention at this crucial chart point ...invites a near term re-test of the May 2010 high -- with a possible overshoot towards the $1345.00 measured target ... and $1425.00 theoretical upside target. On the downside, a sustained break below bullion's March uptrend line (now $1178.50) would be necessary to destabilize what appears to be the energetic resumption of gold's primary uptrend."

An Ugly Feature/Big Problem (?) marring this happy scene: the wretched performance of gold shares. The NYSE Arca Gold Bugs (NYSE:HUI) and the Gold & Silver Index (NASDAQ:XAU) both finished the week down. A correspondent on LeMetropoleCafe notes sourly that heavy losses on Friday happened in the afternoon only -- exonerating the general stock market as a possible cause, because it was plunging all day.

No one seems to understand gold shares' malaise. Unlike gold, they have yet to approach, let alone exceed, their last December highs. Some blame the rise of the gold ETFs like SPDR Gold Trust ETF (CONSOLIDATED:GLD) which expanded its bullion holdings to a record this week) and the closed end Gold Funds like Central Fund of Canada Limited (CONSOLIDATED:CEF) and Sprott Physical Gold Trust (CONSOLIDATED:PHYS) . But these are not leveraged to gold, which has been the gold shares' traditional appeal.

Could gold shares just be the last train to leave the station?

SAN FRANCISCO (MarketWatch) -- Gold futures on Monday rose nearly 2% to end just a couple of dollars short of their May 12 record amid lingering concerns about the health of the world economy. Gold for August delivery, the most active contract, rose $23.10, or 1.9%, to settle at $1,240.80 an ounce. Silver for July delivery tracked gold to settle 5% up at $18.16 an ounce.