The U.S. trade deficit narrowed for a record sixth consecutive month in January to the lowest level in six years as imports and exports both slumped on weak domestic demand, government data showed on Friday.

Gold didn’t do much in the Far East or Europe on Wednesday…but the bottom, if you want to call it that, occurred shortly after the start of floor trading on the Comex yesterday morning in New York. From that low, gold rose steadily…gaining a little over $20 between then and the close of electronic trading at 5:15 yesterday afternoon. In the process, it set another new high for this move.

While the rest of the world is grappling with the global slowdown, China is figuring out ways to exploit it.

The base metals were all glowing green on Friday. Copper rose from the pre-dawn hours to the New York open and tailed off from there, but still hung in positive territory to finish at $1.5089/lb., up 3¾ cents.

Barclays: Japan 4Q GDP Will Shrink 12.1%; Holiday Sales Worst Since 1970; American Greetings Buys Recycled Paper Greetings; Consumer Confidence Hits Record Low; China Eastern Gets Additional Funds; Gazprom Gets Paid

Sara Nunnally says Middle Eastern states are using their petro-dollar Sovereign Wealth Funds to boost their international profile and reduce dependence on oil. She says “following the money” is a good way for investors to profit from this shift in global economic and financial power.

Consumer shows spooky signs of weakness… recession now unavoidable? How’s your 401(k)? Some scary stats on the average retirement savings plan. Haunting mortgage data… 10 million Americans suffer “negative equity”. U.S. finance capitalism dead or dying… Byron King on the new paradigm for global economic power. Eric Fry on investing during the post-crash bounce. Plus, one “surefire” sector during these frightening times.

With its central bank’s surprise interest-rate cut on Monday, India may actually be ahead of the monetary-policy curve for the first time ever as it moves to avert a recession that Asia’s third-largest economy needs to avoid, India investing expert Karim Rahemtulla said yesterday (Tuesday).

Global markets had deep sell-offs yesterday (Tuesday) as short-term credit markets remained tight, with the three-month lending rate for banks hitting a yearly high.

The U.K. government yesterday (Wednesday) announced its own banking bailout package with an $87 billion (50 billion pound) recapitalization plan for the ailing British financial sector.