Gold Price Watch

Discussion in 'Economics & Trade' started by DA60, Jan 27, 2012.

  1. DA60

    DA60 Banned

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    '(Kitco News) - Comex April gold futures prices ended the U.S. day session sharply higher and near the daily high Tuesday. The precious metals markets were boosted by news that Greece and the European Union have finally secured a debt-restructuring deal. The key “outside markets” were also in a bullish daily posture for gold and silver, as the U.S. dollar index was lower and crude oil prices were sharply higher. The gold and silver market bulls regained upside near-term technical momentum with Tuesday’s solid price gains. April gold last traded up $31.20 at $1,757.00 an ounce. Spot gold was last quoted up $21.60 an ounce at $1,756.25. March Comex silver last traded up $1.134 at $34.35 an ounce.

    The market place gained increased investor risk appetite Tuesday as Greece secured its next round of bailout money from the European Union. That boosted the Euro currency and pressured the U.S. dollar index. However, the European stock markets greeted the Greek news with trepidation as those markets treaded water or weakened slightly in the aftermath of the news.

    The U.S. dollar index traded lower Tuesday, which was a positive for the precious metals. Meantime, Nymex crude oil futures prices were sharply higher and hit a fresh 9.5-month high Tuesday. The solidly higher crude oil prices were a major bullish factor for the precious metals. Crude oil and the U.S. dollar index will remain the two key “outside markets” that will generally have at least some daily influence on gold and silver price moves.

    The gold market also sees bullish tailwinds from the weekend news that Iran has halted oil shipments to some European countries, to pre-empt an EU ban on Iranian oil imports. The tensions between Israel and the West, and Iran, are and likely will remain a bullish fundamental factor for the safe-haven gold market. Also, the weekend news that China eased its monetary policy is a bullish underlying factor for all raw commodity markets.'

    http://www.kitco.com/reports/KitcoNews20120221JW_pm.html
     
  2. raymondo

    raymondo Banned

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    Nudging 1760 at 21.00 GMT
    If that Greece settlement increases confidence , the financial community must be made up by tossers of a very high calibre .
    50% of the population are packing their suitcase as I write .
    The other 50% are making fire bombs .
    Portugal and Spain next .
    Europe in flames .
     
  3. bacardi

    bacardi New Member

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    europe in flames while gold sparkles :)
     
  4. raymondo

    raymondo Banned

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    Now nudging 1777 and I can see the reflected light as I look out of my window
    You can do 1800 by Friday evening .
    Greedy
     
  5. bacardi

    bacardi New Member

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    whether it hits 1800 next week or next month is irrelevant to me as I know long term with all this money printing around the globe then gold will just keep on trucking!
     
  6. raymondo

    raymondo Banned

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    Broke 1780 which was showing some small resistance , and Silver edged over 35 .00 , at 15.30 GMT
    I have punted Oregon Gold , ticker ORE , on the London AIM market . They are due results and as early as Monday possibly .
    Given that you can buy at 0.085p , ( I went in at 0.075 ), you can hardly lose a bean if the mine roof falls in tomorrow .
    But could easily double on strong drilling reports which are obviously anticipated .
    No such thing as a certainty .Do your own research , as they say . But what's the need to research , at that price ?
    They are digging for Gold in Serbia !!!!!!!!!!!
     
  7. DA60

    DA60 Banned

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    My understanding is the main thing driving gold/silver is the Iran tensions (including oil going up) primarily and the EU secondarily.

    But I am no expert.
     
  8. raymondo

    raymondo Banned

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    Who is , in these uncharted waters ?
    But I do think that so many of the Americans have not the remotest idea of what is going on or why.
    You hear :--

    OK, big deal ,
    Europe can sink . They are all Socialists and have brought it on themselves
    We can bail ourselves out from the Federal Reserve
    What's Greece got to do with it ? Just California is bigger by a long way
    etc etc
    Even , we always win

    Very very sad .
     
  9. bacardi

    bacardi New Member

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    thats because most americans are a bunch of ignorant fools. They are more interested in watching paris hilton or star search or jerry springer than learning things that affect their daily lives!
     
  10. DA60

    DA60 Banned

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    'Jim Rogers : If somebody starts bombing Iran, everything in the world is probably going to go down for a while except maybe gold. Maybe the US dollar would go up initially, but probably everything would be hit in the shock except maybe gold. So I own gold. I am not selling my gold. I bought some gold on Monday a little bit. Not very much, but if gold goes down a lot, I would buy. I hope I am smart enough to buy a lot more gold. Gold is going to go much higher over the course of this decade. Do not sell your gold, not yet. - in ET Now'

    http://jimrogers1.blogspot.com/2012...ampaign=Feed:+blogspot/WOHK+(Jim+Rogers+Blog)
     
  11. raymondo

    raymondo Banned

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    Who are we to disagree with the great man ?
    I must look at his commodity index one day as it probably is the best commodities , across the markets , product to base your portfolio on .
    Any one here in it ? Any views or points to share?
     
  12. DA60

    DA60 Banned

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    I want to get into it - but I keep putting it off.

    I have done little research into it.

    But I have decided that - until further notice - all I will invest in is gold/silver and commodities...the latter probably from Jim Rogers fund.
     
  13. DA60

    DA60 Banned

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  14. raymondo

    raymondo Banned

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    Tuesday 13.30 GMT
    Gold crashes 1780 as Silver says , hello 36.00 + .
    Fancy it to test 1800 this time .It is still 200-250 behind where I thought it would be though .So hurry up .
    Came out of ORE yesterday morning very fast and added to HZU at 7.65 .
    Rib Eye Steak again tonight , methinks .
     
  15. TopCat

    TopCat New Member

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    The 1800 barrier for Gold is a big one and won't break straight away. Silver closing 3 days above $35 was always good sign. Just looking at HZU.To at the moment and it's up 4.5% today (already). If Gold has another big leg up then that price will go ballistic. Even the people who got in early in today's session would have made something. Have to juggle some funds around and put something in it, the price is still well under what it was last spring.
     
  16. raymondo

    raymondo Banned

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    TC it's up 9% at 17.30 GMT and way ahead of Gold . You can question whether Silver will correct soon ( too fast , too quick) or argue that it needed to catch up from its last very big correction .
    Wish I knew that answer . If it hits 39 . 50 soon ( 2-3 weeks? ) I shall watch it every 15 minutes in case I need a Time Out as it corrects .
     
  17. TopCat

    TopCat New Member

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    There might not be a corrrection. There was only a minor correction at $40 during last Springs mega bull run. Then again in a market run by paper contracts where the supply / demand fundamentals are completely ignored then who knows in the short term.
     
  18. IgnoranceisBliss

    IgnoranceisBliss Well-Known Member

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    Is anyone here actually considering Gold as a long-term investment? Or are you mostly using it to hedge through the Euro-crisis?
     
  19. bacardi

    bacardi New Member

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    I have been buying gold since 2001 and have not sold any since then....only adding a little more here and there when the price is favourable like when the price fell in 2008. Gold is going much higher long term so for me to take a chance in selling for quick profits only to miss the boat when I want to buy back is too risky. Just buy and hold......5 years from now you will be laughing big time!
     
  20. IgnoranceisBliss

    IgnoranceisBliss Well-Known Member

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    There are a lot of issues with holding onto gold as a long-term investment. Warren Buffet describes it best. In essence, gold doesn't "produce" anything in terms of cashflows or dividends. It has no production value, unlike most stocks. You can certainly profit at certain times (as you most certainly did), but in the long term it's unlikely to outgain the S&P.
     
  21. DA60

    DA60 Banned

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    In the last 12 years, the S&P 500 is down about 10%.

    http://stockcharts.com/freecharts/historical/spx1960.html


    In the last 12 years, gold is up just under 500%.

    http://goldprice.org/gold-price-history.html



    IMO, so long as governments/central banks run huge deficits/'print' way too much money AND central banks have 'unnaturally' low interest rates - gold/silver will outperform the S&P 500, period.

    Gold/silver is all about (especially gold) hedges against monetary instability and inflationary concerns.

    Those concerns began about 10 or so years ago and they are VERY much in play now...with no end in site.


    However, I am NO expert.
     
  22. IgnoranceisBliss

    IgnoranceisBliss Well-Known Member

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    The last decade has been an extremely good period for gold and a poor one for stocks. Here's a better look:

    [​IMG]

    Gold is great to hedge your portfolio with. As you can see it tends to have a negative correlation to the market. It's not a great long-term investment though in my (and many experts) opinion. What scares me about investing anymore in it is the extremely high price its at right now. I've always found it advantageous to ignore the hoopla. If a given stock/commodity is making a lot of news it's probably close to its peak and not worth investing in.

    There's a finite amount of gold out there, the price of which is derived entirely by market pressure. Some experts view it as more of a currency than a commodity. If the world economy picks up again people will start dumping it for stocks.
     
  23. DA60

    DA60 Banned

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    I do not understand why you keep talking about 'long term'. Where did bacardi, myself or anyone in this thread talk about holding gold forever?

    As I typed:

    IMO, so long as governments/central banks run huge deficits/'print' way too much money AND central banks have 'unnaturally' low interest rates - gold/silver will outperform the S&P 500, period.

    Gold/silver is all about (especially gold) hedges against monetary instability and inflationary concerns.


    When central banks start to noticeably raise interest rates, I will probably dump all my precious metals...ESPECIALLY if major western governments begin to exercise fiscal restraint to a significant degree.

    But with the Fed saying interest rates will stay down probably until 2014 at least AND western government still 'printing' money like mad...that time looks a ways away.


    But again...I am NO expert.
     
  24. raymondo

    raymondo Banned

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    IIB
    He's right you know , and for the stated reasons .
    As for expertise -- anybody who makes 10 plays and gets seven or more right , is smart . Anybody who repeats that pattern on average , is an expert .Big , big .
    These are special times with circumstances that were not even seen in the Great Depression .
    I would not take too much notice of Warren -- not that I am knocking him .
    He is winding down , playing a lot of Bridge , wandering around with Bill Gates and giving away billions and part of the establishment . One of his unstated jobs is to keep the public from knowing the full truth because they need to hold off the riots for as long as possible .
     
  25. DA60

    DA60 Banned

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    I think you are right...Warren Buffett has become - more or less - part of the establishment. I am afraid he can no longer be trusted to say exactly the truth any longer...he seems to be an extended part of the government now.

    Now whether that extends to whomever is in the White House or just the Obama administration...I do not know.
     

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