Saturday, June 27, 2009
with the FED keeping on flooding the market with US dollar bills , the hyperinflation scenario becomes becomes more plausible and it is now a matter of when rather than if ...Marc Faber amongst other experts warn of a Zimbabwe like Hyperinflation , the rush for the gold have started , There is a huge demand for both gold and silver right now in India and North America. North American shops are completely deprived of silver. Indian shops are empty of both silver and gold. Even the Indian banks don't have any gold or silver.
Friday, June 26, 2009
Thursday, June 25, 2009
Gold rose to $939.50 an ounce on the New York Mercantile Exchange’s Comex division
Silver rose to $14.005 an ounce
The dollar fell, heading for its biggest weekly loss against the euro in a month , The dollar declined to $1.4041 per euro from $1.3988 yesterday
Crude oil rose for a second day, trading above $70 a barrel
Wednesday, June 24, 2009
Friday, June 19, 2009
today Gold rose in New York as the dollar weakened, boosting demand for precious metals as hedge against Inflation . Gold rose to $935.25 in the afternoon still not reaching the $1,032.70 record of March 2008. Gold typically moves inversely to the U.S. dollar so expectations for the dollar of a strengthening dollar in the coming weeks are likely to cap gains in Gold. Silver fell to $14.20 an ounce in New York , Platinum rose to $246.15 an ounce , Palladium gained 1 percent to a record 319,451 ounces yesterday,
Wednesday, June 17, 2009
Monday, June 15, 2009
The Dollar Index, advanced for a second day after Russia’s Finance Minister Alexei Kudrin and before him the Japanese Finance minister declared the nation has full confidence in the U.S.Dollar.Among other precious metals The Platinum slid 1 percent at $1,242.50 an ounce and Palladium was down 1.2 percent at $250.50 an ounce so far ..
Sunday, June 14, 2009
Expert: Mark Griffith
Bio: Mark Griffith has graduated in economics and philosophy at Clare College, Cambridge. He has been a futures and options floor trader at LIFFE (London International Financial Futures Exchange).
or Just buy GOLD, the ETF that tracks the price of gold. As for all these gold bugs, when everyone is talking about it and jumping on the bandwagon, its not a good buy and hold move. the mania hasn't started yet, but when it does, get out!
Saturday, June 13, 2009
Gold is a rocket ship on the verge of taking off . The Real Estate Bubble Burst, The Bulging National Debt, and the Declining Dollar Will Push Gold Prices to Record Highs, even though
gold doesn't pay you an income, and history teaches that gold only competes with cash in the bank or under the mattress or government treasury bonds (provided they pay) when inflation rises faster than interest rates. Gold is going to be king in the Market in the few coming days ...you have been warned ..those who do not buy gold now will find themselves broke when hyper inflation as propheciesed by top notch investors such as Marc Faber or Jim Rogers you will have only yourselves to blame if you keep your assets in US dollars or US treasury Bonds
Friday, June 12, 2009
Thursday, June 11, 2009
Wednesday, June 10, 2009
Tuesday, June 9, 2009
Monday, June 8, 2009
Interview and discussion with Deborah Fuhr of Barclays ETF Research Head. Many people are moving toward seizing sector products, because the challenge in this environment is if you believe in the sector. (The Bloomberg Edge)
Sunday, June 7, 2009
Saturday, June 6, 2009
at $950 is gold is still a good investment especially that some experts predict gold to reach $2000 even $5000 an ounce in the short term amongst the fear that all FIAT currencies may devaluate in a hyperinflation doomsday scenario , although that gold does not pay a devident it is unarguabley the best protection against the devaluation of the Dollar ...bottom line go get your Gold bullions it is still time
Friday, June 5, 2009
Gold surges to near record territory
The metal gains ground as the dollar slumps and investors bet inflation will rebound. Analysts see $1,000 an ounce on the horizon.
NEW YORK (CNNMoney.com) -- Gold prices charged higher Thursday, with another run at $1,000 an ounce looking increasingly likely, as the dollar remains weak and concerns about inflation boost demand for the metal.
Gold for August delivery rose $16.70 to settle at $982.30 an ounce after hitting an intra day high of $992.10 an ounce earlier this week.
The metal is up 11% from its mid April low of $869.50 an ounce as the U.S. dollar has tumbled against rival currencies. Gold and other commodities that are priced in dollars often gain ground when the greenback weakens.
The recent run up has raised bets that gold could top $1,000 an ounce for the third time ever. Gold rose to an all-time settlement high of $1,003.20 an ounce last year. It made another big push early this year, closing at $1001.80 an ounce Feb. 20.
In both cases, jittery investors flocked to the metal to preserve capital as the financial markets erupted in volatility.
Thursday, June 4, 2009
By Halia Pavliva
June 4 (Bloomberg) -- Gold prices rose on speculation that the slumping dollar will spur inflation, boosting the appeal of precious metals as a hedge. Platinum surged more than $55 an ounce to the highest since September.
In May, the dollar fell 6.4 percent against a basket of major currencies, the biggest drop in 24 years. The greenback resumed its decline today, sending commodities higher. The Reuters/Jefferies CRB Index of 19 raw materials rose as much as 2.1 percent.
Gold futures for August delivery rose $16.70, or 1.7 percent, to $982.30 an ounce on the Comex division of the New York Mercantile Exchange. Yesterday, the price reached $992.10, the highest for a most-active contract since Feb. 24.
Platinum futures for July delivery jumped $48.80, or 3.9 percent, to $1,293.30 an ounce on the Nymex. Earlier, the price reached $1,301.90, the highest since Sept. 9.
Platinum climbed for the seventh straight session, the longest rally since January. Holdings in ETF Securities Ltd.’s exchange-traded fund backed by the metal have jumped 74 percent this year.
Silver futures for July delivery gained 58.5 cents, or 3.8 percent, to $15.895 an ounce on the Comex.
This year, silver has jumped 41 percent, platinum is up 37 percent and gold has gained 11 percent.
‘Fears of Inflation’
The Wall Street Journal
June 2, 2009
Gold and silver futures bounced from overnight weakness Tuesday in response to a softer U.S. dollar, although the metals also ran into bouts of profit-taking.
August gold rose $4.40 to $984.40 an ounce on the Comex division of the New York Mercantile Exchange. July silver rose 22 cents to $15.955 and peaked at $16.02, its strongest level since August.
“Overnight, you had some profit-taking across the board in commodities,” said Bob Haberkorn, Lind-Waldock senior market strategist. “People were anticipating dollar strength on [Treasury Secretary Timothy] Geithner’s comments in China.
Wednesday, June 3, 2009
Tuesday, June 2, 2009
THE PRICE OF WHOLESALE GOLD bounced in London on Tuesday morning, reaching $983 an ounce for Dollar investors and recovering from near 5-week lows versus the British Pound.
The Gold Price in Euros held steady at €689 as the single currency also leapt, jumping to new 2009 highs against the Dollar above $1.4270.
"Upside for gold could be limited today," reckons Walter de Wet at Standard Bank in a note. "There were fairly large volumes of physical gold selling [on Monday] when the price moved above $980."
But with US Treasury bond prices down more than 5% for the year to date, and "while higher yields increase the cost of holding gold in the longer run," de Wet adds, "right now it signals reduced investment appetite for exposure to the US and a weaker Dollar."
"Don't be complacent and think there isn't any alternative for China to buy your bills and bonds," warned former central-bank advisor Yu Yongding - scheduled to meet US Treasury secretary Tim Geithner in Beijing today - in an interview on Monday.
"The Euro is an alternative. And there are lots of raw materials we can still buy."
According to data from Bloomberg , foreign investment in US Treasury debt rose nearly $69 billion in May, with strong foreign demand for last week's auction of $101bn in new bonds.
The Federal Reserve will continue its $300bn "quantitative easing" of longer-term interest rates by purchasing 10- and 2-year bonds in the open market tomorrow and Thursday.
"Most of the ongoing rally in the precious metal is more driven by a stark weakness in the US Dollar than the risk averse buying we saw last winter," agrees Andrey Kryuchenkov at VTB Capital in London, quoted by The Telegraph.
By Nicholas Larkin
June 2 (Bloomberg) -- Gold rose in New York and London as a decline by the dollar increased the metal’s appeal as an alternative investment. Silver also advanced.
The U.S. Dollar Index, a gauge of the currency’s value versus six counterparts, fell as much as 0.8 percent to the lowest since Dec. 18. Gold, which typically gains when the dollar weakens, touched a 14-week peak before closing yesterday and silver reached its highest in almost 10 months.
Investors continue “to track moves in the dollar, the key factor driving gold,” Pradeep Unni, an analyst at Richcomm Global Services in Dubai, said in a note. “As optimism grows that the worst of the economic downturn is over,” the correlation between gold and the dollar has returned, he said.
Gold futures for August delivery rose $1.90, or 0.2 percent, to $981.90 an ounce on the New York Mercantile Exchange’s Comex division at 8:43 a.m. local time. The contract earlier fell as much as 1 percent. Bullion for immediate delivery in London gained $5.16, or 0.5 percent, to $980.43.
The metal slipped to $973.50 an ounce in the morning “fixing” in London, used by some mining companies to sell production, from $981.75 at yesterday’s afternoon fixing. Gold briefly traded above $1,000 in the U.K. capital on Feb. 20, the first time the metal had breached that price since March 2008, when it climbed to a record $1,032.70.
“The week is likely to be dominated by further developments on the currency market, with the rally possibly slowing down if the dollar holds above 79-78.5” as tracked by the index, Andrey Kryuchenkov, an analyst at VTB Capital in London, said in a note. The index fell as low as 78.524 today.
Investment in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, rose to a record 1,134.03 metric tons yesterday, the company’s Web site showed. That’s the first gain since May 22.
“One day of decent flows is not enough to change our minds on the near-term outlook for gold,” John Reade, UBS AG’s head metals strategist in London, said in a report. “We are seeing no strong physical gold investment, and we hold our one-month forecast for gold at $950 an ounce.”
Read entire article :
Monday, June 1, 2009
By Jae Hur
June 1 (Bloomberg) -- Gold climbed to the highest in more than three months as a slumping dollar increased demand for the precious metal as a store of value. Silver gained to the highest since August.
Precious metals advanced as the dollar dropped to the lowest since Dec. 18 against a basket of six major currencies, after posting its biggest monthly loss this year in May. Silver rose 27 percent in May, the most since April 1987, and gold added 10 percent, the most since November.
“The dollar’s weakness continued to lend support to commodities, including precious metals and crude oil,” said Hiroyuki Kikukawa, general manager of research at IDO Securities Co. in Tokyo.
Gold for immediate delivery added as much as 0.7 percent to $985.70 an ounce, the highest since Feb. 24, and was at $983.51 at 1:57 p.m. in Singapore. Silver for immediate delivery climbed as much as 1.3 percent to $15.95 an ounce, the highest since Aug. 8, before trading at $15.865.
Spot silver has jumped 39 percent this year, while gold has gained 12 percent. One ounce of gold now buys about 62.1 ounces of silver, the lowest this year, according to data compiled by Bloomberg. This is down from a high of 84.39 in October, which was the most since March 1995.
“Both precious metals appeared to have been overbought,” Kikukawa said. Silver’s 14-day relative strength index, a gauge of momentum, rose above 70 on May 28, a signal some investors use to indicate prices may be about to decline. The index for gold climbed above 70 on May 29.
“Given the re-emergence of the typical inverse relationship between the dollar and gold, the likelihood of further weakness in the dollar should drive gold to a test of its 2008 record highs,” said Toby Hassall, an analyst at Commodity Warrants Australia Pty in Sydney.
Spot gold reached a record $1,032.70 on March 17, 2008.
Saturday, May 30, 2009
read the entire article :
Friday, May 29, 2009
Gold hit the $980-a-troy ounce level yesterday before easing back to $979.90, up 2.2 per cent on the day and gaining 2.5 per cent this week. It was helped by concerns about rising levels of government debt.
Silver rallied 6.4 per cent to $15.56 this week and was on course for a gain of 26 per cent in May, its best monthly performance for 22 years.
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