GLD USD Last:308.0

-0.04

Gold & metals

Post Reply 3461-3480 of 4402

TuaPekGong9413 22-Aug-2011 14:53
Contact Quote!

hitting $1900 is not a prob. my target is $2500. hope to see that before 2012. watever the case, precious metals are definitely better than paper shares.

bsiong 22-Aug-2011 14:51
Contact Quote!

LIVE - LIVE - LIVE - LIVE - LIVE - LIVE - LIVE ---

bsiong 22-Aug-2011 14:42
Contact Quote!

Gold soars to record high on economic woes

 * Spot gold hits record high above $1,878, US gold $1,881

 * Gold may breach $1,900 - technicals

 * Coming up: Chicago Fed Index for July  1230 GMT

 By Rujun Shen

 SINGAPORE, Aug 22 (Reuters) - Spot gold surged 1.4 percent
to score an all-time high for a third consecutive session on
Monday, as nervous investors fled to the safety of the bullion
amid fears of another U.S. recession and the euro zone's debt
crisis.

 Spot gold struck a record top above $1,878 an ounce,
after staging its biggest weekly gain in 2-1/2 years last week.
U.S. gold GCcv1 jumped 1.6 percent to a record high of
$1,881.9 earlier in the day.

 However, prices climbed down slightly later in the day as
Asian stocks turned positive when some investors
returned to pick bargains after the market posted its worst
performance in two weeks last Friday.

 By 0309 GMT, spot gold was up 0.6 percent at $1,869.49. U.S.
gold GCcv1 stood at $1,872.80, up 1.1 percent from previous
close.

 Persistent flow of weak macro data out of the United States
and a complete lack of confidence in marginal economies of
Europe have driven gold to consecutive record highs, said Tom
Price, Global Commodity Analyst of UBS.

 " We are not expecting anything supporting the U.S. economy
or the macro data for at least a couple of months,"  said Price,
" Europe we regard even weaker. We are thinking $1,900-$2,000
over the very short period of time is a likely target."

 Investors are waiting for signs of further stimulus from the
U.S. Federal Reserve when bankers gather in Jackson Hole,
Wyoming, late this week, one year after Chairman Ben Bernanke
launched a second round of quantitative easing to revive the
economy.

 Additional bond purchase by the Fed could raise inflation
outlook and further boost gold, but many view the chances of a
third round of quantitative easing limited and expect the Fed to
take gradual measures to boost the economy.

 Technical analysis suggested that gold could pierce through
$1,900 over the day, said Reuters market analyst Wang Tao.

 Holdings in the SPDR Gold Trust , the world's largest
gold-backed exchange-traded fund, rose to 1,290.762 tonnes by
Aug 21, highest in a week and half.

 But speculators scaled back their bullish bets in U.S. gold
futures and options for a second week last week, as bullion's
rapid rally prompted some investors to liquidate positions, data
showed.

 " Key resistance in gold will be found at $1,946, however,
the market may need an extraordinary event to take it above that
level,"  said MF Global in a research note.

 Other precious metals tracked gold's strength.

 Spot silver rose as much as 2.5 percent to a
three-month high of $43.93, extending a 10-percent rise last
week -- its best week since December.

 Spot platinum hit a three-year high of $1,887, on
course for its 10th consecutive session of rise.

baberic 22-Aug-2011 13:58
Contact Quote!

What do you mean? What is Ananukis?

hotokee ( Date: 22-Aug-2011 13:56) Posted:

Gold price will continue to rise as long as the stock mariket remains sick. I think the price will go further up and I am sure if the Ananukis will definitely much higher price for it. Hahaha! Good luck to all gold buyers. Cheers!!

hotokee 22-Aug-2011 13:56
Contact Quote!

bsiong 20-Aug-2011 17:01
Contact Quote!

Closing Gold & Silver Market Report – 8/19/2011

By Craig C. CalvinAugust 19, 2011

VICE PRESIDENT BIDEN REASSURES CHINA BELGIUM ADDS TO “EURO BOND” PRESSURE

It’s another record for gold today as gold futures ended the day at $1,852.20, an increase of $30.20. With a number of macroeconomic reports indicating that the U.S. economy continues to be shaky, investors have continued to turn to gold as a safe haven, and some analysts have even predicted it could hit $2,000 by next week. Meanwhile, U.S. stock indexes ended the day by extending losses into a fourth week.

In a meeting with Chinese Premier Wen Jiabao on the second day of a nine-day visit to Asia, Vice President Joe Biden assured the Premier that China has “nothing to fear” over its U.S. Treasuries investments. Premier Wen also expressed confidence in the U.S.’s stability, stating that such stability is “…in the interest of the whole world.” With China being the largest foreign creditor for the U.S., the issue of China’s holdings in U.S. debt has been heavily discussed between Vice President Biden and Premier Wen. Vice President Biden also told the Chinese leader that U.S. Treasuries will be taken care of “…not merely because China owns 8 percent of them, but because the Americans own 85 percent.”

Belgium is adding to the pressure already being felt by Germany and France over the euro zone debt crisis. Didier Reynders, Belgium’s Finance Minister, joined those who are calling for the issuance of “euro bonds” as a way to reassure markets that are currently experiencing government bond and bank share selloffs from debtor countries. Resistance to the so-called euro bonds has been strong in Germany, and German Chancellor Angela Merkel has repeatedly criticized the proposal as a “slippery slope” that could leave euro zone countries worse off than they were before.

Now that Standard & Poor’s has downgraded the U.S. credit rating to AA+, stocks of countries that currently hold AAA ratings (such as Germany, Canada, and Switzerland) are experiencing a rush from investors still fearful about the worldwide economy. In a statement from EPFR Global, managing director Brad Durham stated, “At least in the developed markets space, investors are heeding the old dictum that, in tough times, you invest in the creditor, not the debtor."

At 4:15 PM (CT), the APMEX precious metals spot prices were:

· Gold - $1,857.30 - Up $33.30

· Silver - $43.04 - Up $2.25

//

bsiong 20-Aug-2011 16:58
Contact Quote!

Gold posts record weekly gain while oil dips

20 August 2011

SINGAPORE (Commodity Online) : Gold posted its biggest weekly gain in thirty months while oil ended flat for the week as economic concerns crippled markets across the globe.

Gold for immediate delivery climbed as much as 1.4 percent to close $1847.91 an ounce while US gold December delivery settled up $30.20 at $1,852.20 an ounce.

Gold’s trading volume topped 270,000 lots, the highest this week but below last week’s pace. Silver prices also climbed and ended at $42.40 an ounce.

Meanwhile oil futures ended flat as WTI crude for September delivery eased 12 cents, or 0.2%, to $82.26 a barrel on the New York Mercantile Exchange.

In London, Brent crude on the ICE futures exchange closed $1.76 higher at $108.75 a barrel.

Analysts attributed gold’s gain and oil’s dip to worries over US’s economic growth and Europe’s debt crisis.

They said the precious yellow metal coiuld have gained more but Speculation that the CME Group, the world’s largest commodity exchange, could raise margins on Gold futures once more, after a similar move this month dampened the precious metal’s sharp run higher.

A weak dollar also supported the situation as the dollar index which compares the U.S. currency to six others, recently traded at 74.002, down from 74.216 late Thursday.

bsiong 20-Aug-2011 16:55
Contact Quote!

'Gold prices may correct upto $300 before moving up'

NEW YORK (Commodity Online): Gold could correct by upto $300 an ounce after attaining an all-time high of $1,880 an ounce, gold prices may correct by upto $300 an ounce before climbing back, according to Jeffrey Nichols, renowned precious metals analyst and Managing Director of American Precious Metals Advisors.

" At some point, however, we will see a correction, perhaps a sizable one. After all, even strong bull markets never move up in straight lines. I would not be surprised to see gold stumble - falling back $100, $200, or even $300 - before prices begin working their way higher once again," Jeff Nichols said in his site NicholsonGold.com.

The bull rally has been well supported by season demand principally from three distinct sources: (1) Western jewelers step up fabrication demand ahead of Christmas gift-giving late in the year (2) Indian dealers begin stocking up ahead of the late summer and autumn festivals and wedding season and (3) in December and January, the approaching Chinese lunar new year triggers another sharp rise in Gold demand.

Jeffrey Nichols pointed out that Cental bank buying has been a key reason in increasing upward price volatity to for gold. " At the top of my list of bullish forces supporting the long-term gold-price uptrend are: (1) recognition of recessionary trends in the industrial economies and the implications for future monetary policy (2) the lack of faith in the U.S. dollar and the euro (3) increasing Western investor participation - both retail and institutional - in the gold market and the re-legitimization of gold as an asset class (4) continuing expansion of the big Asian markets, China and India, even if growth moderates in these countries (5) rising official-sector demand as emerging-economy central banks seek reserve diversification."

bsiong 19-Aug-2011 10:48
Contact Quote!

PRECIOUS-Gold hits record high as growth worries deepen

 * U.S. manufacturing, housing data disappoints

 * Spot gold hits record at $1,836.46/oz

 * U.S. gold strikes record at $1,839.8/oz

 SINGAPORE, Aug 19 (Reuters) - Gold prices struck record
highs on Friday, as skittish investors rushed for the safety of
the bullion amid fears of a worsening U.S. economy and
lingering euro zone debt crisis.

 Spot gold XAU= struck a record of $1,836.46 an ounce, and
was trading up 0.7 percent at $1,836.20 by 0100 GMT. It was
headed for a 5-percent weekly rise.

 U.S. gold GCcv1 also climbed to an all-time high at
$1,839.8, before trading up about a percent at $1,839.5.

 " It's not surprising in view of more concerns about Europe
and terrible data out of the U.S.,"  said Darren Heathcote, head
of trading at Investec Australia.

 " It looks unlikely that gold would fall particularly at the
present time given there's so much uncertainty and nervousness
in the markets. Markets will remain skittish and gold
supported."

 Latest data showed a sharp drop in the factory activity in
the U.S. Mid-Atlantic region and unexpected slump in home
resales, fuelling worries that the growth in the world's
largest economy has stalled.

 Worries about the health of European banks added to the
nervousness in the financial markets, which has driven
investors to safe-haven assets such as gold and the dollar.

 Holdings in the world's largest gold-backed exchange-traded
fund, SPDR Gold Trust (GLD), rose by more than 1 percent on the
day to a one-week high of 1,286.825 tonnes by Aug. 18.
[GOL/ETF]

 The most-active gold futures contract on Tokyo Commodity
Exchange for June 2012 delivery JAUc6 also rose to an
all-time high, at 4,541 yen per gram.

bsiong 19-Aug-2011 10:45
Contact Quote!

Closing Gold & Silver Market Report – 8/18/2011

By Robert DavisAugust 18, 2011

VOLATILE MARKETS FALL AGAIN WHILE GOLD CONTINUES TO SHINE

Gold has increased gains since the mid-day, and is edging closer to a 2% gain on the day. Stocks and almost every commodity besides precious metals closed sharply lower today.

Inflation indexes ticked higher last month, according to data released by the Fed. The Consumer Price Index, the Fed’s primary measure of inflation, increased 0.5% in July. On an annual basis, this indicates a 6% rise in prices consumers pay for goods. This annualized rate is more than double the Fed’s stated inflation target of 2-3%.

Residential real estate also slowed more than expected in July, with existing home sales falling 3.5%, while economists expected a rise of 3.8%. Pierre Ellis, a senior economist at Decisions Economics, said, " The home sales number is beginning to creep downward. It gives the appearance of melting away, contributing to consumer sector worries. And that was even before the recent financial market volatility.”

Gold continues to shine in its role as an asset class, showing its tendency to hold or increase in value while other asset classes are declining. “The most recent economic data is what’s guiding all asset classes. This means that just about everything but gold is falling right now,” said Adam Sieminski, Chief Energy Economist at Deutsche Bank.

At 4:15 pm (CT) the APMEX precious metals spot prices were:

Gold - $1,829.00 – Up $33.20.
Silver - $40.77 – Up $0.31.

bsiong 18-Aug-2011 15:16
Contact Quote!

U.S. Loses Top-Notch Credit Rating.
Is Gold Still AAA?

Nearly two weeks ago, in our essay on gold and debt ceiling, we wrote the following:

The [debt ceiling] stalemate may cost America its AAA rating, adding $100 billion a year to government costs while dragging down economic growth.

As a matter of fact, on Friday the S& P rating agency downgraded the U.S. credit rating from AAA to AA+. This is an unprecedented event and because of that the effects are unclear as far as the stock market is concerned. In the long term they are unclear because on one hand it's obvious that the credit downgrade will make U.S. securities more risky and thus less attractive to foreign investors, but on the other hand we know that when Canada lost its AAA rating in April 1993, Canadian stocks rallied more than 15% in the subsequent year. Japanese stocks moved over 25% higher in the 12 months after Moody's downgraded Japan in November 1998.

In the short term the situation is complicated because some of this information might have already been factored in in previous price levels and we could have the " buy the rumor, sell the fact" type of event, which in this case would mean " sell the rumor, buy the fact" .

Speaking of facts, let's start with them. The U.S. has been downgraded from AAA to AA+. From S& P website we get the following definitions:

'AAA' - Extremely strong capacity to meet financial commitments. Highest Rating. 'AA' - Very strong capacity to meet financial commitments.

Note: Ratings from 'AA' to 'CCC' may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.

Additional facts are:

- Moody's and Fitch did not change their top credit rating for the U.S.
- Credit ratings are used for calculating required rate of return (lower rating -> bigger risk -> bigger payoff required for taking this additional risk called the risk premium) and this means that they directly related to US debt securities and indirectly to other US securities as well.

So, the U.S. has not been downgraded to " junk" status (like Greece), it's been downgraded from extremely strong to very strong. This will have a small impact on the risk premiums - perhaps 0.38% (compare country risk premium between Aaa and Aa1 countries on this website). So, the logical approach suggests that not much should change - after all, this is a slight change of view on the U.S. credit, and a change of view expressed by only one rating agency.

On the other hand, it's the world's biggest economic superpower that's no longer top notch and it seems that this action will make many investors sell their " riskless Treasuries" and buy other countries' notes/bonds or precious metals instead. There's a lot of fear in the marketplace as the traditional safe bet (Treasuries) doesn't appear as safe as it used to. This creates a potentially positive environment for gold.

To determine whether the outlook for metals is in fact positive, let's move on to the technical part of today's essay. We will start with the medium-term S& P 500 Index chart (charts courtesy by http://stockcharts.com).

Declines seen on Thursday and Friday were followed by a huge move down on Monday triggered by the U.S. debt downgrade. These observations lead us to the obvious question of whether the decline will last longer. At this point, the situation is very unclear, however based on Tuesday's strong rebound after stocks touched the 38.2% Fibonacci retracement level visible on the above chart, 50-week moving average and other factors, it seems that at least a local bottom has been formed.

This doesn't paint an overly bullish picture for gold for the following weeks, as it has been negatively correlated with the main stock indices. In other words, gold's rally can be to a large extent explained by the increased fear among stock investors who dumped their holdings to buy gold. The US downgrade has increased the tension.

With stocks perhaps at a local bottom, it seems that gold may form a short-term top soon.

This becomes extremely important when you take into account the above long-term chart and realize that right now gold is on the brink of $1,800. Yes, we were bullish on gold just a few days ago, but that was also many tens of dollars ago. With this volatility things can change very quickly.

Once the first shock is over, we may see markets come to their senses and accept the fact that an AA+ rating for the U.S. debt is far from bad. Once they do that, gold is likely to move lower, even though the long-term situation has just (low interest rates at least until mid-2013) become even more favorable.

Summing up, the U.S. rating downgrade resulted in declines in the general stock market and took the indices much lower. However, AA+ rating is not the end of the world and investors may soon realize that have overreacted. Was the final bottom reached? That is still unclear, however at least a short-term move higher appears likely. Meanwhile, fueled by fear, gold might move just a little higher, but as soon as things calm down, the yellow metal is likely to decline - likely after topping close to $1,800.

Thank you for reading. Have a great and profitable week!

.................................................................................................................
It is time to diversify your portfolio or recover your losses in stocks.
To reach financially freedom, you need to invest in not just stocks.
Invest in land and get a double return in 4 to 5 years.
It is just about 0,70 lots of GLD for 1 unit of land.
How? Just leave me a private message (PM) here for details.

.................................................................................................................
It is time to diversify your portfolio or recover your losses in stocks.
To reach financially freedom, you need to invest in not just stocks.
Invest in land and get a double return in 4 to 5 years.
It is just about 0,70 lots of GLD for 1 unit of land.
How? Just leave me a private message (PM) here for details.

bsiong 18-Aug-2011 15:06
Contact Quote!

Closing Gold & Silver Market Report – 8/17/2011
by Craig C. Calvin August 17, 2011

GOLD BREAKS ANOTHER RECORD MORGAN STANLEY ASIA WARNS CHINA MAY STOP BUYING U.S. TREASURIES

Gold ended the day by hitting another record, finishing at $1793.80 per ounce, a gain of $8.80. This, after trading as high $1,797 earlier in the day, driven by investor apprehension over the debt crisis in Europe and an overall lack of confidence in the economy worldwide. Silver also ended the day on a high note, settling at $40.35 per ounce, its best performance in two weeks.

Stocks here in the U.S. experienced a second session of losses today, with the Dow falling 17.29 points and the S& P 500 dipping 3.18 points. In response to today’s market losses, Stuart Freeman, Wells Fargo Advisors’ chief equity strategist, said, “We’ll likely continue to be in a volatile space here for awhile we’re mostly out of earnings season, and guidance for the end of the year wasn’t real specific for most companies.”

An executive with Morgan Stanley Asia is warning that China may be planning to stop purchasing U.S. treasuries in response to this country’s slow economic growth. In an interview with CNBC, Steven Roach, Morgan Stanley Asia’s non-executive chairman, said that if that happens, the U.S. could experience an increase in interest rates, a weaker dollar, and an inability to fund itself the way it has been. " This is China’s wakeup call," said Mr. Roach, adding that China can " no longer afford to stay the course of export-led growth that is hooked on the bandwagon of the American consumer." He went on to say that China will be turning more towards internal consumption as part of that its updated five-year plan.

Venezuelan President Hugo Chavez announced today that he intends to nationalize the gold industry in Venezuela in an effort to increase gold reserves for the country. In an appearance on state-run television in Venezuela, Chavez stated, " We are going to nationalize the gold and we are going to convert it, among other things, into international reserves because gold continues to increase in value." President Chavez’s announcement came after a government report was leaked yesterday that recommended repatriating 90% of the country's gold reserves, of which approximately 63% is being held abroad right now.

At 4:25 pm (CT), the APMEX precious metals spot prices were:

· Gold - $1,793.60 - Up $6.60

· Silver - $40.36 - Up $0.44

.................................................................................................................
It is time to diversify your portfolio or recover your losses in stocks.
To reach financially freedom, you need to invest in not just stocks.
Invest in land and get a double return in 4 to 5 years.
It is just about 0,70 lots of GLD for 1 unit of land.
How? Just leave me a private message (PM) here for details.

bsiong 18-Aug-2011 15:04
Contact Quote!

Gold extends gains on uncertain economic scenario

Last Updated : 18 August 2011 at 12:05 IST

SINGAPORE (Commodity Online) : Gold extended gains Thursday on economic concerns while a WGC report said India and China will continue to drive global gold demand.

Gold for immediate delivery was seen trading at $1791.64 an ounce at 1.00 p.m Singapore time while US gold for December delivery was seen at $1794.82 an ounce on the comex division of Nymex.

In India, gold enjoyed a third straight days of gains. On the Multi Commodity Exchange (MCX), benchmark gold, October contract was trading 0.40 percent higher at 26,548 rupees.

Country’s local currency, the rupee was weaker in early morning trades, tracking regional peers and as dollar demand from oil refiners and negative shares weighed.

Analysts said the precious yellow metal is likely to extend gains during the day as continued worries over euro zone debt woes and slower global growth and defying a rebound in the dollar will help its course.

The dollar index .DXY rose 0.3 percent, after dropping to a three-week low in the previous session.

Meanwhile, gold-backed exchange-traded funds continued to draw interest. Holdings in the SPDR Gold Trust, the world's largest gold ETF, rose by 0.72 percent on the day to 1,271.985 tonnes by August 17.

Holdings in the iShares Silver Trust, the world's largest silver ETF, edged higher to 9,727.10 tonnes by August 17, the trust said.

On Wednesday, gold futures settled at a record as investors continued to seek the metal amid worries about a potential global slowdown.

Gold for December delivery added $8.80, or 0.5%, to end at $1,793.80 an ounce on the Comex division of the New York Mercantile Exchange, handily supplanting the previous day's record. Gold posted an intraday record of $1,801 an ounce Aug. 10.

.................................................................................................................
It is time to diversify your portfolio or recover your losses in stocks.
To reach financially freedom, you need to invest in not just stocks.
Invest in land and get a double return in 4 to 5 years.
It is just about 0,70 lots of GLD for 1 unit of land.
How? Just leave me a private message (PM) here for details.

bsiong 17-Aug-2011 23:01
Contact Quote!

Soros cuts gold position by 13.4%

Last Updated : 17 August 2011 at 19:05 IST

NEW YORK (Commodity Online): Billionaire investor George Soros has cut his Gold positions as per disclosure by the Securities and Exchange Commission (SEC). This disclosure comes as per the 13 F’s by the SEC which requires Hedge fund managers to disclose their holdings.

Soros has cut his SPDR Gold Trust holdings by 13.4% to 42,800 shares in Q2, 2011.

Paul Touradji, who runs one of the world's largest commodities-oriented hedge fund, also sold his entire stake of SPDR Gold Trust worth about $25 million.

Meanwhile, James Paulson, the famed gold bull held on to his $4.6 billion stake in the SPDR Gold Trust.
" Paulson basically is putting his money where his mouth is. He believes that gold is earmarked to move substantially higher," said Mark Luschini, chief investment strategist at Janney Montgomery Scott (manages $54 billion in assets), Reuters reported. " With the Fed saying it is likely to keep interest rates low for a couple more years, it is basically advertising to the market that ... we are going to maintain a highly accommodative monetary policy which is a dollar-debasing position" that usually benefits gold, Luschini said.

bsiong 17-Aug-2011 22:41
Contact Quote!

Morning Gold & Silver Market Report – 8/17/2011

By Ryan SchwimmerAugust 17, 2011

EURO ZONE PLAN BRINGS NO RELIEF TO EQUITY MARKETS

Overseas trading was mixed last night, while U.S. Stock futures are poised to open higher. Gold prices have continued to climb since yesterday’s gains. Silver, which has not experienced the same recent gains as gold, has also trended up the past several days and is once again above $40/oz.

The highly anticipated meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel yesterday did not do enough to satisfy world investors. The growing feeling is that plans for closer monitoring of fiscal policy in the eurozone are not enough to stop the debt problem from spreading to other countries.

In the U.S., the July Producer Price Index (PPI) rose 0.2%, while core PPI, which excludes the “volatile” markets of food and energy, rose 0.4%, the largest increase since January. Higher PPI numbers point to inflation, which is yet another bad sign for the sluggish global economy.

At 8:00 am (CT) the APMEX precious metals spot prices were:

Gold - $1,788.50 – Up $1.50.
Silver - $40.18 – Up $0.26.

bsiong 17-Aug-2011 14:13
Contact Quote!

Is gold overvalued? Will gold go parabolic now?

16.aug.2011

All major currencies have fallen against Gold today with the euro down 1% against gold on nervousness ahead of the Franco German summit. Gold is trading at USD 1,776.70, EUR 1,235.10, GBP 1,084.10, CHF 1,389.90 per ounce and 136,450 JPY/oz. Gold’s London AM fix this morning was USD 1,779.00, EUR 1,236.18, GBP 1,086.81 per ounce.

U.K. inflation accelerated more than economists forecast in July, as the cost of food, clothes, footwear, housing maintenance and rent increased. Negative real interest rates are getting worse as the BOE has kept interest rates at a record low of 0.5%.

5% inflation in the UK is expected in the coming months prior to hopes that inflation will abate. UK economic activity grew at just 0.2% in the second quarter of the year suggesting an annual rate of growth of 0.7% over the past twelve months.

Economic growth is faltering in all major economies with data this morning showing Eurozone and German GDP growth slowing.

Eurozone GDP rose 0.2% from the first quarter, when it increased 0.8% while German GDP growth fell by more than expected in the second quarter, dropping to a derisory 0.1%.

Double dip recessions involving inflation and therefore stagflation seem increasingly likely.
Gold is overvalued in trading terms in the short term as it has risen well above its moving averages and there is the risk of a correction from these levels.The 144 day moving average (identified by Dominic Frisby of Money Week) has provided very strong support to Gold since January 2009 and should provide strong support should a material correction materialize.The 200 day moving average provided support from 2000 to 2008 but more recently the 144 day moving average has been strong support.As we appear to be entering the second phase of gold’s bull market the 50 and 100 day may become more important support levels.
While acknowledging the risks of a correction, one must also acknowledge that given the scale of physical demand being seen internationally there is a real possibility that gold goes parabolic as it did during the stagflation of the 1970s.
Gold surged 49.7% in 1972, 73.5% in 1973 and by 60.1% in 1974. In the final phase of the bull market in 1979, gold surged 140% in just 12 months.Gold’s recent rise of 20% per annum since 2000 and 25% rise so far in 2011 has been tame in comparison.The conditions today are far more bullish than in the 1970s as in the 1970s the U.S. was the largest creditor nation in the world whereas today the U.S. is the largest debtor nation the world has ever seen.Gold went parabolic in the 1970s after a period of stagflation. Today, we appear to be on the verge of a period of stagflation.The 1970s saw significant geopolitical risk with oil crisis, the overthrow of the Shah of Iran and the Russians invading Afghanistan. Today there is significant geopolitical risk in the world, arguably more, and there remains the real risk of a conflagration in the Middle East between Israel and its allies and Iran and its allies.
Today we have a global debt crisis, massive systemic risk in the financial system threatening the solvency of many banks and sovereign governments. This was not the case in the 1970s.
This makes a parabolic move in Gold very likely in the coming days, weeks and months. Increasingly, the question is not if we go parabolic rather it is when do we go parabolic – in the weeks and months or in the coming years.
Prudent diversification and owning physical bullion remain key to weathering the coming difficult years.

.................................................................................................................
It is time to diversify your portfolio or recover your losses in stocks.
To reach financially freedom, you need to invest in not just stocks.
Invest in land and get a double return in 4 to 5 years.
It is just about 0,70 lots of GLD for 1 unit of land.

How? Just leave me a private message (PM) here for details.

bsiong 17-Aug-2011 14:04
Contact Quote!

Gold hovers near record gains as Europe crisis continues

17aug2011

SINGAPORE (Commodity Online) : Gold managed to cling on to record overnight gains as its safe haven status remained intact after high level Europe talks failed to convince investors and traders that the euro zone debt crisis would be solved effectively.

US gold for December delivery was seen trading at $1787.24 an ounce at 1.00 p.m Singapore time while Spot gold was at $1784.28 an ounce after rising 1 per cent in the previous session.

Analysts said the yellow metal is likely to extend gains during the day as Europe talk’s failure lifted its appeal as a safe haven asset.

Meanwhile, Holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, edged up 0.2 percent from a day earlier to 1,262.899 tons by August 16

On Tuesday, Gold futures finished at a record level after climbing $27 an ounce as investors remained on the defensive following weakness in global stock markets and disappointing data on European economic growth.

Gold for December delivery rose $27, or 1.5%, to settle at $1,785 an ounce on the Comex division of the New York Mercantile Exchange. The previous closing record was Wednesday's $1,784.30.

September Silver climbed 51 cents to end at $39.82 an ounce, but the September contract for Copper shed 4 cents to finish at $3.99 a pound.

.................................................................................................................
It is time to diversify your portfolio or recover your losses in stocks.
To reach financially freedom, you need to invest in not just stocks.
Invest in land and get a double return in 4 to 5 years.
It is just about 0,70 lots of GLD for 1 unit of land.
http://www.niagarafallstourism.com/
How? Just leave me a private message (PM) here for details.

bsiong 17-Aug-2011 13:58
Contact Quote!

Closing Gold & Silver Market Report – 8/16/2011

by Robert Davis August 16, 2011

STOCKS SNAP WINNING STREAK, INVESTORS GET GOLD FEVER – Gold is up since the mid-day commentary, and stock closed for a loss of around 1%. The market seems jittery after hearing the announcement by leaders Sarkozy and Merkel regarding plans to deal with the EU debt crisis.

Many traders were hoping for a “Eurobond” program, a system where the European Central Bank, instead of individual countries, would sell bonds to borrow money, and those bonds would be guaranteed by every country in the Union. While this could potentially prevent a catastrophic default by one the EU’s larger nations, the more stable countries could be left on the hook for the riskier countries’ mistakes. Germany and France have both expressed apprehension for the plan. Frank McGhee, Head Precious Metals Trader at Integrated Brokerage Services LLC, said, “At the end of the day, it (Sarkozy-Merkel news) is going to put worries back into the market about the euro and euro zone that may have been quieting down. It's going to add additional volatility into the gold market.”

Despite the downgrade by Standard & Poor’s, interest rates on American bonds reached a new low, a sign that bond traders aren’t worried about the possibility of default. Although the downgrade set off a series of highly volatile stock trading sessions that resulted in trillions of dollars in losses in stocks, Edward Marrinan, the Head of Macro Credit Strategy at RBS Securities in Stamford, Connecticut, said, “The market is saying S& P’s rating decision is wrong. The Treasury bond is still seen as the ultimate risk-free security.” Interestingly enough, S& P recently upgraded the rating for communist China.

At 4:15 pm (CT) the APMEX precious metals spot prices were:

Gold - $1,791.60 – Up $31.60.
Silver - $40.03 – Up $0.61.

bsiong 16-Aug-2011 10:40
Contact Quote!

SINGAPORE, Aug 16 (Reuters) - Spot gold held onto the gains
made in the previous session on Tuesday as dismal U.S. data
added to concerns about economic growth, while investors wait
for a meeting between France and Germany for any solutions to
the euro zone debt crisis.

 	
 FUNDAMENTALS

 * Spot gold was little changed at $1,764.09 an ounce
by 0021 GMT, after rising 1 percent in the previous session.

 * U.S. gold GCcv1 rose half a percent to $1,767.20 an
ounce.

 * The largest gold fund players including hedge fund titan
John Paulson stuck with their bullion bets in the second
quarter, opting not to follow George Soros who further reduced
his gold ETF holdings.

 * Holdings of the SPDR Gold Trust , the world's largest
gold-backed exchange-traded fund, stood at 1,260.173 tonnes by
Aug. 15, unchanged from Friday.

 * The latest U.S. data showed manufacturing in the New York
area contracted for the third straight month in August, boding
ill for growth prospects.

 * Investors are eyeing a meeting between France's Nicolas
Sarkozy and Germany's Angela Merkel on how to make the euro zone
work more effectively amid persistent doubts in financial
markets over Europe's ability to solve its sovereign debt
crisis.

 * Spot platinum gained 0.4 percent, on course for its
sixth consecutive session of gains, its best run since January.

 	
 MARKET NEWS

 * Wall Street stocks rose for a third day on Monday as
investors saw Google's offer for phone maker Motorola Mobility
as an excuse to jump back into the market after weeks of sharp
selling.

 * The euro hovered below a two-week high against the Swiss
franc hit in the previous session on speculation the Swiss
National Bank may take action to curb gains in the currency by
setting an exchange-rate target this week, while the dollar
index edged up 0.1 percent.

bsiong 16-Aug-2011 10:36
Contact Quote!

Closing Gold & Silver Market Report – 8/15/2011

by Craig C. Calvin August 15, 2011

US STOCKS RALLY TODAY GERMAN CHANCELLOR RESISTS SO-CALLED “EUROBONDS”

Since the Mid-Day Gold & Silver Market Report posted by APMEX at 1:15 PM, the spot price of gold has risen from $1,769.00 to $1,770.50 (up $25.90 overall for the day) and the spot price of silver has risen from $39.69 to $40.04 (up $0.82 for the day).

Reversing the massive drop seen last week, U.S. stocks rallied today amid news of some major mergers and acquisitions, including a plan by Google to purchase Motorola Mobility and Time Warner Cable’s intention to acquire Insight Communications from the Carlyle Group. The Dow rose 213.88 points and the S& P gained 25.68 points in response, although both indexes are still lower than usual for this time of year and August looks like it could end as the worst month for the indexes since May of 2010. Art Cashin with UBS Financial Services indicated that today’s rally might also be the result of investors with misplaced optimism about Tuesday’s meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy about the euro zone debt crisis, saying, “…they might have their hopes too high [as] they’re hoping something can be worked out.” Cashin also offered a warning, stating, “What we’re seeing right now is a rebound, but if you go back to the ‘87 crash, we rebounded 6 percent the next day and 10 percent the day after that, but by December, we were headed back for another low. So you want to be very careful.”

Speaking of the euro zone debt crisis, German Chancellor Merkel is feeling the pressure from some business groups in Germany to push for an issuance of what some are referring to as “Eurobonds,” which would be bonds issued jointly by euro zone countries. Many experts are saying that such a common bond issuance would allow euro zone members to borrow at affordable rates, thereby solving the current debt crisis. However, the German government is strongly against the idea of issuing “Eurobonds,” fearing that such a move would increase borrowing costs for Germany while also reducing the incentive for troubled euro zone countries (such as Greece) to make necessary economic reforms. A spokesman for the German government insisted that there would be no discussion of such jointly issued bonds during the meeting between Chancellor Merkel and President Sarkozy tomorrow.

At 4:43 pm (CT), the APMEX precious metals spot prices were:

· Gold - $1,770.50 - Up $25.90

· Silver - $40.04 - Up $0.82

Login Register