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Good Day, Bad Day
October 30, 2007
GOOD DAY FOR: Gold bugs, as near-term gold futures hit $789.10 an ounce yesterday, the highest closing price since 1980, not adjusted for inflation. Investors are turning to gold to protect against rising oil and the falling dollar. “It is extremely likely gold will get through $800 in the short term—over the next few weeks—maybe even sooner,” said strategist Peter Richardson at Craton Capital in a South Africa. (Los Angeles Times, free registration required)
BAD DAY FOR: Lunch at Taco Bell, as the Mexican-themed fast food chain is giving away free tacos from 2 pm to 5 pm (local time) today, after losing a World Series base-stealing bet. At 77 cents a pop, Taco Bell could give away $233.5 million in tacos. “We don’t really know what to expect,” said Taco Bell spokesman Rob Poetsch. (Forbes.com)
of The Week magazine.