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Andrew Spragud and the Sundsvall Dragons escaped with a 73-72 win over the Sodertalje Kings this afternoon. The Dragons controlled the first three periods of the match with a well balanced attack on the both ends of the floor. Spragud, who led with 21 pts and 5 rebs, has began to flourish in his role as Sundsvalls go to player in the post. Sodertalje, who was led by William Walker’s 24 points, was unable to capitalize after being down one point after two missed free throw attempts by the Dragons Johan Jeansson with 14 seconds left on the clock. Dino Pita got a clean look at the basket for the win for the Kings but was unsuccessful. The Sunsdvall Dragons now move into 2nd place over Plannja Basket who is set to take on 08 Stockholm tomorrow in Fryshuset.

Södertälje Kings – Sundsvall Dragons 72-73 21-24 17-19 15-19 19-11
Södertälje Kings:
William Walker 24, Dino Pita 13, Adnan Chuk 10, Rickard Eriksson 10, Tom Lidén 9, Tim Kearney 4, Marvin Asante 2, Alexander Wikner-Nordberg 0

Sundsvall Dragons:
Andrew Spagrud 21, Jakob Sigurdarson 16, Justin Bailey 11, Johan Jeansson 10, Michael Kingma 6, Brandon Barton 5, Egal Saleman 2, Johan Rönström 2, Andre Nilsson 0, Johan Pierre 0, Adam Alexander 0

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Word broke earlier this month that rocker Kravitz was in the final stages of a deal to sell his SoHo pad for $14.995 million. The loft had been on and off the market since 2002 and priced as high as $19.5 million.

Now the New York Post reports that the buyer is none other than singer Alicia Keys and her “secret fiancé” hip-hop producer Swizz Beatz. Keys reportedly paid $400K less than the asking price.


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Reuters
Published: 2010/01/28 05:47:31 PM

GOLD gave up its earlier gains today as the euro declined versus the dollar amid concerns over the heavy indebtedness of smaller euro zone economies, although the metal was supported by bargain hunting.

Spot gold was bid at $1 088,35 an ounce at 1450 GMT, against $1 087,25 late in New York on Wednesday. The precious metal had risen as high as $1 095,95 an ounce in earlier trade.

“Currencies are clearly guiding the immediate direction of the precious metals, especially after fresh trouble brewing in Portugal, Italy, Greece, (and) Spain now, which threatens to undermine the health of the common currency,” said Pradeep Unni, senior analyst at Richcomm Global Services.

The euro traded near a 6-1/2 month low versus the US unit as US data and fears over the outlook for a number of smaller euro zone economies pressured higher-yielding currencies.

Data showed the number of US workers filing new jobless claims fell less than expected last week, while a separate report showing US durable goods orders increased less than expected in December.

Meanwhile German and French officials denied they were planning to give Greece financial aid to overcome its budget problems, while Athens said it would search mainly in Europe for funds to ride out a worsening debt crisis.

Gold prices have declined some 4% in the last two weeks as the dollar rallied against the euro, with fears over Greece’s fiscal situation and waning risk appetite lifting the US unit at the expense of higher-yielding currencies.

Gold retains some support around current levels, however, as investors take advantage of its recent price dip to buy, helping prices shrug off the dollar’s strength.

“We have had some bargain hunting, especially in platinum and palladium,” said Deutsche Bank trader Michael Blumenroth.

“The gold price is pretty near the lows we have seen since last October so probably some people think it will go up from here.”

Among other commodities, oil rose towards $74 a barrel after US President Barack Obama’s State of the Union address and the Fed’s decision to maintain low interest rates revived some confidence over economic growth.

Gold tends to track crude prices, as the metal can be bought as a hedge against oil-led inflation.

In production news, the China Gold Association said Chinese gold output jumped 11,34% to a record 313,98 tons in 2009, securing the country’s position as the world’s largest producer of the yellow metal.

Silver rose to $16,55 versus $16,54. Holdings of the world’s largest silver exchange-traded fund, the iShares Silver Trust, rose 0,5% to 9 384,98 tons on January 27, it said.

Platinum was at $1 509 an ounce against $1 502,50, while palladium was at $422 against $411,50.

Lonmin Plc, the world’s number three platinum producer, said platinum sales fell 13,6% in its first quarter as refined output of the metal declined.

Fifth-largest miner Aquarius Platinum also said its attributable output fell 14,8% year-on-year.

Traders said while the figures were likely to underpin fears that production will be weak this year, their impact on prices would be limited. “Mining problems are already in the price, as everybody is expecting them,” said one PGMs trader.

A Reuters poll published yesterday showed platinum and palladium are expected to outperform other precious metals this year, with a new wave of investor demand boosting prices in anticipation of increased industrial use.

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The 2010 State of the Union Address

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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) — Gold futures fell on Wednesday, as ongoing worries over China’s move to slow down its economic growth and weakness in other commodities prompted traders to sell the precious metal.

Gold for February delivery, the most actively traded contract, dropped $6.60, or 0.6%, to $1,091.70 an ounce in electronic trading on Globex.

Earlier, it hit an intraday low of $1,090.60 an ounce.

“The gold market is still being hurt by indications of slightly tighter monetary policy in China,” said James Steel, gold analyst at HSBC in New York. “This year Chinese monetary changes seem to be gaining an influence in gold. We’re not only looking at the Fed as we used to.”

Chinese officials have recently moved to tighten bank lending in the country, sparking market worries over a slowdown in its economic growth. China is a leading importer of many commodities, and therefore its monetary policy has a big impact on commodities demand.

Metals traders are awaiting the Federal Reserve’s statement on U.S. monetary policy, which is due around 2:15 p.m. Eastern.

The central bank is expected to leave its federal-funds rate unchanged on Wednesday and to signal that the rate will remain at an exceptionally low level for an extended period.

The Fed statement will be important for the gold market “if they change the wording substantially,” Steel said.

Weakness in other commodities early Wednesday also weighed on gold prices, he said.

Elsewhere on Globex, March silver futures dropped 29 cents, or 1.8%, to $16.57 an ounce and March copper futures fell 4 cents, or 1.3%, to $3.29 a pound.

In the currency markets, the U.S. dollar traded little changed against other major currencies. A report on new home sales for December is due at 10 a.m. Eastern. Read more on the dollar.

Polya Lesova is reporter for MarketWatch, based in Frankfurt.

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These Alexander McQueen leather pumps are utterly amazing if worn with the right outfit. Let us know what you think.

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