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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Money doesn't grow on trees but NYC streets are littered with gold shards

Jun 22, 2011 12:36 PM

New York City streets are not paved with gold but shards of the precious metal and jewels are in abundant supply.

Just ask Raffi Stepanian of Queens.

"I may be about to trigger a new gold rush on the streets of New York," he told The Daily Telegraph. "The soil in the sidewalks of 47th street are saturated with the stuff."

The 43-year-old unemployed jeweler earns as much as $500 per week by crawling around with a pair of tweezers and pulling all sorts of precious goods stuck in mud and gum in Diamond District pavement in Manhattan.

He credits his 26 years the industry as helping develop a keen eye to discern chips like diamonds, rubies, platinum and fragments of gold from watches, earrings and necklaces, all of which helps sustain him while he's between jobs.

He holds on to the gold chips he finds because he plans to melt them down. But he sells other finds to precious metal refineries or diamond sellers.

MSN reports Wednesday saw gold futures climb in value due to speculation about the Fed's next moves to stimulate the moribund economy, which chairman Ben Bernanke is expected to address in the afternoon.

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