Latest Forum Topics /
GLD USD
Last:245.65
+1.17
|
 Post Reply
|
|
Gold & metals
|
|
|
bsiong
Supreme |
30-Mar-2011 12:35
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
* Gold steadies, off intraday high * Coming Up: EZ Economic sentiment Mar 2011 0900 GMT By Lewa Pardomuan SINGAPORE, March 30 (Reuters) - Gold steadied on Wednesday on firmer equities and upheaval in Libya, although further gains could be capped by worries that some central banks will have to soon start tightening monetary policy, a move that would dent bullion's appeal as a hedge against inflation. In recent days, several top U.S. central bank officials have said further bond purchases by the Federal Reserve were not needed to support the economy, while European Central Bank President Jean-Claude Trichet noted his inflation concerns from rising food and energy prices. But an uprising in the Arab world remained a key supporting factor for gold, as a conference of 40 governments and international bodies agreed to press on with a NATO-led aerial bombardment of Libyan forces until Muammar Gaddafi complied with a U.N. resolution to end violence against civilians. Spot gold hardly moved, standing at $1,416.10 an ounce by 0233 GMT after hitting an intraday high of $1,419.50 -- still well below a lifetime high around $1,447 struck last week. It had dropped 0.1 percent on Tuesday as the talk of monetary tightening prompted selling. " You've got to ask yourself, how bad is inflation? I think, really, you've got to get the economy moving before anything happens," said Jonathan Barratt, managing director of Commodity Broking Services in Melbourne. " I think the market itself will probably get a little bit headstrong if, in fact, we continue to get concerns in the Middle East. I think gold is really being played out by what's happening in the Middle East and risk aversion trade." Muammar Gaddafi's better armed and organised troops reversed the rapid westward advance of rebels on Tuesday as world powers meeting in London piled pressure on the Libyan leader to step down. [ID:nLDE72S033] In Syria, President Bashar al-Assad sought to deflect the greatest challenge to his 11-year rule by mobilising tens of thousands of Syrians in mass rallies across the country, while in Yemen, protesters demanded an end to President Ali Abdullah Saleh's rule. U.S. gold futures for April was barely moved at $1,416.0 an ounce. Japan's Nikkei average made modest gains on Wednesday after the dollar rose against the yen, but remained tethered in a narrow range for a seventh straight session amid little progress at the crippled nuclear plant. " There's a bit of physical buying but we've also seen some selling on the upside. The Middle East is a tense, but people also think interest rates will go up in the euro zone, which is why the market is capped," said a dealer in Hong Kong. " It's a mixed market. We may see support at $1,410, while the upside is capped at $1,420 and $1,422. We may trade within this range for the rest of the week. Speculators don't seem to know what to do." Holdings on the world's largest gold-backed exchange-traded fund, SPDR Gold Trust , were unchanged at 1,211.836 tonnes. In currencies, the yen wallowed at 10-month lows versus the euro and near a three-week trough on the dollar on Wednesday, having suffered broad losses after several major chart support levels were breached. Against the dollar, the euro held near $1.4100 , finding the going tough after a crack at levels above $1.42 last week was met with selling interest Gold demand to make jewellery, dental fillings and in electronics will jump by more than 5 percent this year, the biggest rise since 2000, metals research and consultant CPM Group said on Tuesday. |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
30-Mar-2011 12:32
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
Closing Gold & Silver Market Report – 3/29/2011March 29, 2011OIL PRICES UP –HOUSING PRICES DOWN –STOCK MARKET UP- DOES THIS MAKE SENSE? Whether or not we say the words double-dip as it applies to the housing recovery, or lack of, there was more disturbing data today. The S& P Case-Shiller report showed prices in the top 20 US markets dipped another 3.1% in January. For those unfamiliar with this report, please consider that this is a three month running average, so this data includes October and November when interest rates were at historic lows. “Keeping with the trends set in late 2010, January brings us weakening home prices with no real hope in sight for the near future” says Standard and Poors' David M. Blitzer. " The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery. At most, we have seen all statistics bounce along their troughs at worst, the feared double-dip recession may be materializing." The above report, falling consumer confidence and even oil prices going up could not damper the appetite for risks, as the stock market rose over 80 points. The appetite for risks may be growing, but there are some sounding an alarm. JP Morgan is loaning AT& T 20 billion dollars to help finance their purchase of T-Mobile. Moody’s is warning that this could be an early warning sign of another credit bubble as this will encourage other banks to assume too much risks in order to capture the lucrative underwriting fees. Not to be outdone by Europe, Japan or the Middle East, Peru would like to throw their name in the hat as a potential threat to the global economic health. The conflicts in Peru might not be as severe as Libya, but investors are beginning to keep a close eye on a situation with global ramifications. Peru is the second-leading copper producer, the largest silver producer and the fifth-largest gold producer. At 4PM (CT) the APMEX precious metal prices were:
|
| Useful To Me Not Useful To Me | |
|
|
|
|
bsiong
Supreme |
29-Mar-2011 12:54
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
* Market awaits U.S. employment data for direction * Speculative interest seen waning * Coming Up: U.S. consumer confidence 1400 GMT By Rujun Shen SINGAPORE, March 29 (Reuters) - Spot gold held steady on Tuesday, as investors weighed the implication of the possible end of easy monetary policy in advanced economies, paring holdings in the top exchanged-traded gold fund. The euro zone's inflation has risen above the target, said the European Central Bank's chief, strengthening expectations that the bank may raise interest rates next month. Rate hikes tend to dampen gold prices in the short term, but over the long run, gold still benefits from rising inflation as investors seek safe-haven assets including bullion. Spot gold edged down 0.1 percent to $1,417.71 an ounce by 0324 GMT. U.S. gold GCv1 slipped 0.1 percent to $1,418.40. " Gold should stay rangebound between $1,410 to $1,440, with focus shifting to currencies," said a Singapore-based trader, adding that physical demand would emerge if prices dropped below $1,410. Investors are still watching the ongoing Middle East crisis, as oil prices eased after Libyan rebels pressed forward against embattled leader Muammar Gaddafi. " If Libya's situation stabilised, it would ease the fear on future inflation and dampen sentiment in gold," said Li Ning, an analyst at Shanghai CIFCO Futures. Gold hit a record high of $1,447.40 last week in the aftermath of Japan's devastating earthquake, tsunami and the following nuclear crisis, but speculative interest was seen waning. " There is not much to trade on," said a Tokyo-based trader, " but we are likely to see big moves in the markets following the U.S. non-farm payrolls data on Friday night, which will likely give a clear direction to the market." Holdings in the SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, extended their decline to a three-week low of 1,211.836 tonnes by March 28. The ETF's holdings are headed for the biggest quarterly drop since the fund was established in November 2004, and a third straight quarter of falls. Spot silver declined by half a percent to $36.92 an ounce, down 3 percent from a 31-year high of $38.13 reached last Thursday. Spot silver has risen nearly 20 percent this year, compared to a small 0.1 percent loss in gold, 1.7-percent decline in platinum and a 7-percent fall in palladium |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
29-Mar-2011 09:11
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
SINGAPORE, March 29 (Reuters) - Spot gold was little changed on Tuesday, as investors watch moves in the currency market after inflation comments by the European Central Bank, while holdings in the SPDR Gold Trust continued to decline. FUNDAMENTALS * Spot gold was nearly flat at $1,418.95 an ounce by 0052 GMT. * U.S. gold futures GCv1 were little changed at $1,419.20. * Comments from the European Central Bank's president on increasing inflation in the euro zone strengthened expectations for the bank to raise interest rates next month, supporting the euro. * Investors continued to watch the Middle East unrest and Japan's nuclear crisis, although their influence is fading. * Holdings in the SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, extended losses to its lowest in more than three weeks at 1,211.836 tonnes, suggesting waning investment interest in bullion. MARKET NEWS * U.S. stocks fell on Monday as the corporate outlook was clouded ahead of earnings and uncertainty continued to creep from abroad, while volume hit its lowest level of the year. * The euro held its ground early in Asia on Tuesday after comments from the head of the European Central Bank bolstered views for an interest rate hike, while a widening interest rate differential helped the dollar higher on the yen. * U.S. oil prices eased on Tuesday for a fourth day after Libyan rebels, with the help of Western-led air strikes, pressed forward against embattled leader Muammar Gaddafi.
|
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
29-Mar-2011 09:08
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
Closing Gold & Silver Market Report – 3/28/2011March 28, 2011WHY SILVER IS UNDERVALUED RELATIVE TO GOLD John Stephenson, author of the “The Little Book of Commodity Investing” postulates that since silver is about 16 times more prevalent than gold in the earth’s crust, and that the two metals are quite similar, the gap in their prices should be more like 16:1, rather than the current 40:1. “For my money, the trade of the decade will be silver” said Stephenson. Both equity and precious metals markets were choppy today, as profit takers moved in on a day of no big news. Gold finished down Monday while silver had a positive finish. The news of the day has a bit of a repetitive feel to it. Analysts at MS Futures said in a note to clients Monday, “lack of significant fresh developments from current geopolitical issues has resulted in some anxiety draining out of markets like gold”. On the other side of that discussion is the fact that the geopolitical tensions that routinely show up in the news aren’t going away which indicate future safe haven buying for gold. An interesting statistic to note is that U.S. consumer spending increased 0.7 percent in February, a higher increase than expected. Although this is positive news, it has a dark cloud more than half that gain in spending is reflected in higher prices. Also noted is that consumers had to dip into or cut back on savings to cover higher living costs. With these indicators one can only wonder how much inflation will continue to affect spending habits of consumers. At 4PM (CT) the APMEX precious metal prices were:
/*/* |
| Useful To Me Not Useful To Me | |
|
|
|
|
bsiong
Supreme |
28-Mar-2011 18:01
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
Gold edges down as dollar firms Mideast, Japan support
* Hawkish comments from Fed officials dampen gold sentiment * Gold could retrace to $1,414 -technicals [ID:nL3E7ES02E] * Coming up: U.S. pending home sales, Feb 1400 GMT By Rujun Shen SINGAPORE, March 28 (Reuters) - Gold prices inched lower on Monday, weighed down by a firmer dollar, but violent unrest in the Middle East as well as an unfolding nuclear crisis in Japan lent support. The dollar index firmed slightly, aided by hawkish comments from some U.S. Federal Reserve officials, while the euro continued its decline on news that German Chancellor Angela Merkel's conservatives had lost a key state election. Several Fed officials said on Friday that the central bank was unlikely to extend its bond purchase program with the U.S. economy now on a firmer footing, while others called to trim the program or raise interest rates soon, increasing the greenback's appeal and weighing on gold. " The bar for future quantitative easing seems to have been raised, and this is weighing on the sentiment of the gold market," said Ong Yi Ling, an analyst at Phillip Futures. The Fed's money-pumping into the economy has raised concerns of inflation down the road, helping gold extend its record-breaking rally. Some investors had expected the Fed to extend its loose monetary policy, which could further increase demand for gold as inflation hedge. Spot gold edged down 0.2 percent to $1,424.55 an ounce by 0618 GMT, off the record high of $1,447.40 hit on March 24. U.S. gold futures GCv1 were little changed at $1,424.90. A strong support was seen at the $1,420 level, Ong said. " There is some light buying around $1,425 and $1,426 from speculators, but we are not seeing much activity on the physical market," said a Singapore-based dealer. " People are holding back, hoping that prices might go lower towards $1,420 before they buy again." The fighting in Libya and spreading unrest in other nations in the Middle East, in addition to the nervousness around Japan's nuclear crisis, are supportive of gold prices, she added. Technical analysis showed that spot gold could extend Friday's losses to $1,414, Reuters market analyst Wang Tao said. Investors will focus on the U.S. non-farm payroll data for February, scheduled for release on April 1, to assess the status of the economic recovery. " Based on recent data, the number won't look too bad," said Hou Xinqiang, an analyst at Jinrui Futures in China. " Gold is likely to go through some correction, with the dollar bottoming out." Spot silver lost 0.7 percent to $37.02 an ounce, off its 31-year high at $38.13 reached on last Thursday. Net long positions by speculators in gold and silver rose last week as prices rose, the U.S. Commodity Futures Trading Commission said. /* /* |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
27-Mar-2011 12:41
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
WEEKEND DIGEST
Your independent Swiss asset manager THE TIMELESS PRECIOUS METAL FUND
Gold: BUY, HOLD OR SELL? Up-date N° 25 / March 23, 2011
1980 to 2011: From bear to bull
In 1980, the price of one ounce of GOLD reached $ 850. Today, the purchasing power of the US dollar is substantially less than in 1980. The price of one ounce of gold would have to rise to $ 2,300 to reflect the value of the US dollar thirty years ago. The long-term picture
The bull market of the gold price started towards the beginning of 2002. On the way from $ 252.20 to the recent high of $ 1435 (an increase of 470%), several significant corrections took place, the most severe one in 2008 when the gold price sank by 29% only to jump 102% to a new all-time high. The bull market is not over! Furthermore, we only reckon with a modest corrections within the up-trend as we cannot yet make out any overbought market condition.
Extremes never last but no extreme is an absolute extreme and there is no guarantee that the extremes of 2006 and 2008 will actually be repeated. To demonstrate our point, we need to go back to 1980 when the indicator shown below went far above present levels.
It is important to note that we have NO extreme at present. In the past, excluding 1980, it would have paid off to play the extremes, always assuming that one can buy back at the right moment which is far from easy. A long-term investor may feel better simply remaining invested as he believes that prices will eventually go much higher. The medium-term picture of the gold price
Critics of technical analysis include well known fundamental analysts. For example, Peter Lynch once commented, " Charts are great for predicting the past." Warren Buffett has said, " I realized technical analysis didn't work when I turned the charts upside down and didn't get a different answer" and " If past history was all there was to the game, the richest people would be librarians." However, as the circles show in above chart, selling and then buying when prices crossed the Moving Average, would have been a valid strategy. The gold/silver ratio
In times of economic slow-down, the gold/silver-ratio reverses dramatically as can be seen in 2008. As the next economic crises will hit again - sooner or later, the present level of the ratio favours an investment in gold rather than silver. Should you own gold rather than gold shares? Gold and gold shares do not always move in a parallel fashion. At times, gold is leading, at times the gold shares. From 2000 to 2006, the Gold& Silver Index ratio fell by 40%, telling us that gold and silver shares outperformed the price of gold. In 2006, the trend started to reverse as the ratio continued to increase and reached a lever of 5 points or 33% higher than in 2006. The crisis of 2008 hit gold and silver shares hard as the index spiked to 11 points. Gold and silver shares were sold across the board as investors were forced to sell to create liquidity. This extreme, created by panic selling, created a once in a life time buying opportunity. Few however were able to benefit from this situation as the worst fears dictated investors' behaviour. The ratio has since fallen back to 6.6 points but is still roughly 25% higher than the long-term average. Gold shares should continue to fare better than the price of gold.
Conclusion Gold should perform better than silver over the coming months but gold shares should outperform the price of gold! Peter Zihlmann /* |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
27-Mar-2011 12:30
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
WEEKEND DIGESTInvestment Legends: " Dollar Collapse Inevitable"  Jeff Clark, BIG GOLD 23 March 2011 Jim Rogers is a self-made billionaire, author of the best-sellers Adventure Capitalist and Investment Biker, and a sought-after financial commentator. He was a co-founder of the Quantum Fund, a successful hedge fund, and creator of the Rogers International Commodities Index (RICI). Bill Bonner is the president and founder of Agora, Inc., a worldwide publisher of financial advice and opinions. He is also the author of the Internet-based Daily Reckoning and a regular columnist in MoneyWeek magazine. Peter Schiff is CEO of Euro Pacific Precious Metals and host of the daily radio show The Peter Schiff Show. He is the author of the economic parable How an Economy Grows and Why It Crashes and the recent financial bestseller The Little Book of Bull Moves: Updated and Expanded. He's a frequent guest on CNBC, Fox Business, and is quoted often in print media. Jeffrey Christian is managing director of CPM Group and a prominent analyst on precious metals and commodities markets. CPM Group produces comprehensive yearbooks on gold, silver, and platinum group metals, and provides a wide range of consulting services. Jeffrey publishedCommodities Rising, an investors' guide to commodities, in 2006. Walter J. " John" Williams, private consulting economist and " economic whistleblower," has been working with Fortune 500 companies for 30 years. His newsletter Shadow Government Statistics (shadowstats.com) provides in-depth analysis of the government's " creative" economic reporting practices. Steve Henningsen is chief investment strategist and partner at The Wealth Conservancy in Boulder, CO, assisting clients interested in wealth preservation. Current assets under management exceed $200 million. Frank Trotter is an executive vice president of EverBank and a founding partner of EverBank.com, a national branchless bank that was acquired by the current EverBank in 2002. He received an M.B.A. from Washington University and has over 30 years experience in the banking industry. Dr. Krassimir Petrov is an Austrian economist and holds a Ph.D. in economics from Ohio State University. He was assistant professor in economics at the American University in Bulgaria, then an associate professor in finance at Prince Sultan University in Riyadh, Saudi Arabia. He is currently an associate professor at Ahlia University in Manama, Bahrain. He's been a contributing editor for Agora Financial and Casey Research. Bob Hoye is chief financial strategist of Institutional Advisors and writes Pivotal Events, a weekly market overview. His articles have been published by Barron's, Financial Post, Financial Times, and National Post. BIG GOLD: A lot of economists, including the government, believe the worst is behind us economically. Do you agree? If not, what should we be on the lookout for in 2011? Jim Rogers: It is better for those getting all the government largesse, but the overall situation is worse. More currency turmoil. State and local problems, plus pension problems. Bill Bonner: None of the problems that caused the crises in Europe and America have been resolved. They have been delayed and expanded by more debt and more money printing and will lead to more and worse crises. Deleveraging takes time. 2011 will, most likely, be a transition year... not unlike 2010. But the risk is that one of these latent crises will become an active crisis. Peter Schiff: To me, it's like watching someone walk into the same sliding glass door again and again. Wall Street must know by now that large infusions of liquidity from the Fed spur present consumption at the expense of investment for the future. We are an indebted family going out for an expensive meal to celebrate getting approved for a new credit card. It might feel good (at the time), but we're still simply delaying the inevitable. Jeffrey Christian: We believe the worst is behind us economically, in the short term. The recession ended in late 2009, and 2010 saw U.S. economic growth in line with what CPM had expected, but higher than the more pessimistic consensus had been. In 2011 we expect continued expansion. We think some economists and observers are too enthusiastic about economic prospects right now. For the U.S. in 2011, we are looking for real GDP of 2.5% - 2.8%, inflation to remain low, and for the economy to avoid deflation. Interest rates are expected to start rising, perhaps significantly in the second half of 2011. The dollar is expected to be volatile, rising somewhat against the euro but continuing to weaken against the Canadian and Australian dollars, the rupee, yuan, rand, and other currencies. European sovereign debt issues will continue to plague financial markets, but market reactions will be less severe than they were regarding Greece in April 2010. John Williams: An intensifying economic downturn - what formally will be viewed as the second dip of a double-dip depression - already has started to unfold. The problem with the economy remains structural, where household income is not growing fast enough to beat inflation, and where debt expansion - encouraged for many years by the Fed as a way to get around the economic growth problems inherent from a lack of income growth - generally is not available, as a result of the systemic solvency crisis. Accordingly, individual consumers, who account for more than 70% GDP, do not have the ability, and increasingly lack the willingness, to fuel the needed growth in consumption on which the U.S. economy is so dependent. Steve Henningsen: The governments worldwide (I don't pay much attention to economists) want us to believe that the worst is behind us because the financial system is built upon the foundation of trust and confidence. Both of these were battered badly when it was shown that much of the world's prosperity over the past few decades was simply a mirage that, once dispersed, left behind only debt with no means of future production. Now they want us to believe that they fixed the problem via more debt. What I will be watching for this year is sovereign and U.S. municipal debt corpses floating to the surface sometime in the months ahead. Frank Trotter: Right now I have a somewhat dark but not dismal outlook. I think that over 2011, we will continue to experience a Jimmy Carter-style malaise that combines continuing high unemployment, tentative business investment, rising prices, low housing numbers when looked at on an absolute basis, and creeping interest rates. As a very large mortgage servicer, we are not seeing significant improvements in payment patterns that would indicate the worst is fully behind us, and with mortgage rates moving upward, we see less ability for current mortgage holders to refinance and reduce payments. Krassimir Petrov: No, the worst is yet to come. No structural changes have been made, no problems have been fixed. Printing money, a.k.a. Quantitative Easing, is a quick fix that has postponed the problem, yet also made it a lot worse. I would say that we are still in the early stages of the crisis and have another 4-8 years to go. Bob Hoye: The worst of the post-bubble economic adversity is not behind us. BG: Price inflation is creeping up, but the enormous amount of money printing hasn't really hit the system yet. Does that happen in 2011, further down the road, or not at all? Jim Rogers: It is happening. The U.S. and CNBC lie about it. Most other countries do not lie and acknowledge it is worsening. Bill Bonner: Most likely, substantial consumer price inflation will not show up in 2011. The explosion of money printing is being contained by the bomb squad of deleveraging. That will probably continue in 2011. But not forever. Peter Schiff: 2010 was the year that China began cutting back its Treasury purchases in favor of gold, hard assets, and emerging market currencies. The Fed has stepped in as a major purchaser of Treasuries. This represents a new phase on the path to dollar collapse, and it will manifest in 2011 in the form of more " unexplainable" inflation - as we are now seeing in the prices of everything from corn to gasoline. Jeffrey Christian: We are now beginning to see some increases in monetary aggregates, suggesting that some of the monetary accommodations are beginning to filter into the economy. We expect this trend to accelerate over the course of 2011. This will bring some increase in inflation, but we expect the major manifestation will be through higher U.S. Treasury interest rates as the Fed and Treasury seek to sell bonds to sterilize the inflationary implications of the monetary easing and to finance ongoing massive federal deficits. John Williams: The problems of the money creation will become increasingly obvious in exchange-rate weakness of the U.S. dollar. Related upside pricing pressure already is being seen on dollar-denominated commodities such as oil. There is high risk of consumer prices rising rapidly before year-end 2011, setting the stage for a hyperinflation. The outside date for the onset of a U.S. hyperinflation is 2014. Steve Henningsen: My guess is further down the road, as the deleveraging cycle continues with deflationary-housing winds in our face and the banks still hoarding money like my 9-year-old daughter stockpiles American Girl doll paraphernalia. I still expect inflation to continue in areas such as energy, bread, circuses, and whatever else provides sustenance to the Romans - I mean people. Frank Trotter: Most research has shown that over time the increase in money supply is not a short-term economic stimulus, but rather has a moderate effect in the 18- to 36-month range. In addition, this theory contends that a growth in the monetary base - which is what has happened so far - only increases economic activity when accompanied by a decent multiplier this is not occurring. The real risk is that with rising rates and continued soft economy, the Fed will feel obliged to continue to QE3, QE4, and so on, all of which may have a significant inflationary impact. I am more concerned about general price inflation here in the U.S. and the potential it has to reduce global growth. Krassimir Petrov: This is a tough one. I would have thought that price inflation would have been raging by now, but this is obviously not the case. I have the feeling that 2011 will be a repeat of early 2008, with commodity prices (CRB) making new all-time highs. A falling dollar will trigger a rush into commodities as a hedge against inflation. I am really tempted to make a totally outrageous forecast that oil could make a run for $200 as QE3 unleashes another dollar scare, or maybe even a dollar crisis. Bob Hoye: Massive " printing" has been widely publicized and is " in the market." BG: The U.S. dollar ended 2010 about where it started does it resume its downtrend in 2011, or are fears about its demise overblown? Jim Rogers: No, but further down the road. Bill Bonner: No opinion. But there is more risk in the dollar than potential reward. Peter Schiff: It's hard to pinpoint exactly when the dollar will collapse, but it will take a miracle to avoid that outcome in the near term. It really depends on when the creditors of the United States realize that they are not going to get their principal returned to them in real terms, but rather in grossly devalued dollars. We have already seen the average duration of U.S. Treasury debt drop below that of Greece. No one wants to buy a 30-year bond with negative real interest rates as far as the eye can see. Jeffrey Christian: We expect the dollar to be volatile against most currencies in 2011, but that its demise has been prematurely predicted. The dollar may move sideways to slightly higher against the euro, yen, and pound, while continuing to deteriorate against the Canadian and Australian dollars, the rupee, yuan, rand, and other emerging economy currencies. John Williams: There remains high risk of a dollar selling panic unfolding in the year ahead, as the U.S. economy tanks anew, as the Fed continuously expands its easing, and as dollar holders dump the U.S. currency and dollar-denominated paper assets. Such would be a precursor to the inflation problem. Steve Henningsen: Similar to my thoughts last year, I still believe the dollar is headed down long-term, but it could bounce around over the next year. If sovereign debts become a problem again, like I think they will later this year, then everyone will go running back to " Mother Dollar" once again for one last hug before she lies back down on her sickbed. Frank Trotter: As the economy waffles and the global investing community's attention is drawn from one crisis to the next, I expect the U.S. dollar to bounce up and down in the current range. After that, however, my analysis suggests that measured by the key factors of fiscal and monetary policy, combined with a significant trade deficit, the U.S. does not look as good as our major trading partners, and I thus expect the dollar to decline, perhaps significantly, in the intermediate term. Big geopolitical events may accelerate this or create a flight to U.S. dollar quality, so hold on to your hats. Krassimir Petrov: I think the dollar resumes lower. I expect QE3 and QE4 - a dollar-printing fest that will eventually sink the dollar. Sure, all fiat currencies are in deep trouble and prone to overprinting, but the reserve status of the dollar actually makes it more vulnerable now. Whether the dollar sinks against other currencies is a fool's game not worth playing. It is like being in the hospital, where all patients are suffering from cancer, and trying to guess who will feel best at the end of next year, or trying to guess who will succumb first. That's why it is so much safer to play the dollar against gold. Bob Hoye: Fears of the dollar's demise have been widely discussed and are " in the market." The dollar, itself, will not be repudiated - just the mavens that have been " managing" it. BG: Gold has risen 10 years in a row, so some are calling it a bubble, yet it's roughly $1,000 below its inflation-adjusted high. What's your outlook for the metal in 2011? Jim Rogers: It is hardly a " bubble" when very few own it still. Who knows? Overdue for a correction, but who knows? Bill Bonner: The smart money is in gold. It will stay in gold until the bull market that began 10 years ago finally reaches its peak. It is extremely unlikely that the top will come in 2011 it's probably years in the future. In the meantime, gold is bound to have a losing year or two. Don't worry about it. Buy gold. Be happy. Peter Schiff: The funny thing about a bubble is that when it's real, no one can see it. The same commentators who were blind to the tech bubble, the housing bubble, and now the Treasury bubble are quick to call gold a bubble. The truth is that many of them have a personal aversion to gold because they directly benefit from our fiat money system. Goldman Sachs was paid 100 cents on the dollar in the AIG bailout, which never would have happened in a gold-based system. It's a lot easier to print a billion paper dollars than dig up a million ounces of gold. Gold will continue to climb in 2011 as the currency war continues and investors continue to seek stability. Unless there is a major sea change in the way the U.S. does business, I think the gold trade is a safe one. Jeffrey Christian: A price of $1,550 is possible, although given the enormous investor buying pressure, prices could spike to almost anywhere. After that, we expect prices to fall back, initially to around $1,340 or $1,380. We expect gold prices to stay above $1,280 or so for most of 2011, and to average around $1,369 for the full year. John Williams: As the U.S. dollar increasingly is debased, and where gold tends to preserve the purchasing power of the dollars invested in it, the upside to gold in the year ahead is open-ended, restricted only by any limits to the massive downside potential for the U.S. dollar. Any intermittent gold price volatility, extreme or otherwise, will be short-lived. There is no bubble - only increasing weakness in the U.S. dollar - with the gold price fundamentally headed much higher in the years ahead. Steve Henningsen: I believe gold will once again prove the bubble-boys wrong and end the year positive (I have no idea by how much and don't really care). However, I think this year will be more volatile and that Gold Bugs better remain seated on the precious metals express or they might get squished. Frank Trotter: I still think that with price inflation on the rise and big political events occurring, there may be room to continue to rise. If stock markets take off, then there will be a reduction in appreciation or even a significant decline, but based on the factors I mentioned above, I don't see that as highly likely. Krassimir Petrov: Gold still has outstanding fundamentals. I believe that over the course of 2010, the fundamentals have strengthened significantly: (1) " No Exit [Strategy] for Ben" as he unleashed QE2, and will likely unleash QE3, QE4, etc., (2) no more central bank selling of gold, (3) more central banks become buyers of gold, and (4) trial balloons for a global gold-backed currency. I have no idea how people could even claim that gold is in a bubble - barely 1 out of 100 people have any idea about investing in gold. During the real estate bubble, every second person was involved in it. Maria " Money Honey" Bartiromo has yet to report from the COMEX gold pits gold fund managers and analysts have yet to obtain rock-star status and glamorous models are not yet dating the gold guys. Who is the Henry Blodget [co-host of Tech Ticker] of the gold sector, do we have one yet? Yes, gold will eventually become a bubble, but that feels 5-8 years away. Bob Hoye: In 2011, gold's real price will resume its uptrend. BG: What's your best investment advice for 2011? Jim Rogers: Buy the rmb [renminbi, the Chinese currency]. Bill Bonner: We are in a period much like the period following WWI, in which the great debts and losses of the war had to be reckoned with. It is an era of great risk. The U.S. faces many of the same challenges faced by Germany and England after WWI. Like England, it has huge debts. It is a waning imperial power. And it has the world's reserve currency. And like Germany, it is attempting to fix its problems by printing more money. This is not a good time to be long either U.S. stocks or U.S. bonds. Peter Schiff: Don't be suckered into the idea that recovery is just around the corner. The current climate is like living in a hurricane or earthquake zone it's important to stay vigilant because you never know when disaster will strike. Physical gold is the financial equivalent of a flashlight, first-aid kit, and store of canned goods. It's a basic way to protect yourself from any eventuality. From there, if you're looking for returns, there are plenty of foreign markets with strong fundamentals, as well as commodities that feed those markets. Investing in the U.S. is now driven largely by force of habit. It's a habit you should resolve to break. Jeffrey Christian: Do not invest based on what you believe, but on what you know. Gold is a market, like other markets. It rises and falls. You probably want to stay long gold on a long-term basis, but may want to cull the weaker gold assets from your portfolio in the first quarter, and put some hedges in place to protect a long-term core long gold position against the potential of significant price weakness over the next two years or so. Such a period of weakness would be an excellent time to add to one's gold assets. John Williams: As an economist, I look for the U.S. dollar ultimately to lose virtually all of its current purchasing power. Accordingly, for those living in a U.S. dollar-denominated world, it would make sense to move to preserve wealth and assets over the long-term. Physical gold is a primary hedge (as is silver). Holding some stronger currencies outside the U.S. dollar, as well as having some assets outside the United States, also may make sense. Steve Henningsen: Dramamine (for volatile markets), a stash of cash (for potential investment opportunities), and move some of your assets offshore if you haven't already. Frank Trotter: My advice is first to look at the other side of your balance sheet - the liability and risk equation - before seeking out absolute gains. What are your goals, what resources do you already have to meet those goals, and what events (health, income stream, upheavals) might impact these risks? Place some assets to hedge these risks directly, then look to diversify globally into markets with higher growth potential than we see here at home, and that may balance your global purchasing power risk. Almost like a religion, we have had the phrase " Stocks are the only legitimate hedge against inflation" beaten into our heads. I say, look at assets that define inflation like commodities and currencies and evaluate where these fit into your risk portfolio. Krassimir Petrov: Last year I recommended silver, and I would stick to silver again, despite the phenomenal run in 2010. Then it gets tricky. I usually don't recommend diversification, but now I would again recommend a broad portfolio of commodities. Investing in 2011 should be easy: stay out of real estate, out of bonds, out of fiat currencies, and out of stocks stay fully invested in commodities, overweight gold and silver. What to watch in 2011: stay focused on the sovereign debt crisis and bond yields. Spiking yields will trigger the next stage of the crisis. Bob Hoye: Once past the early part of 2011, the best returns are likely to be obtained from the junior gold exploration sector. [These world-class experts are right to bank on gold and silver - because the U.S. dollar keeps losing more and more of its value. Watch this eye-opening video on how China and Russia are plotting to dump the dollar in the near term… why you should be worried… and what to do about it.] /* Diversify your portfolio, invest in land and get a handsome return of 15-20%pa in 4 to 5 years. /* |
| Useful To Me Not Useful To Me | |
|
|
|
|
bsiong
Supreme |
27-Mar-2011 12:15
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
Gold Outlook Remains Bullish as Geopolitical Concerns PersistBy Christopher Vecchio, 25 March 2011 23:06 GMT
Gold was little changed for the second consecutive week, gaining 0.8 percent to $1429.88, though not before hitting an all-time high of $1447.73 on Thursday. It appeared that investors were readyto continue hoarding the precious metal, especially considering the rising tensions in the Middle East and North Africa, as contagion spread to Syria, Yemen, and Israel. A stronger U.S. Dollar suppressed the value of bullion headed into Friday, as the Greenback rallied against the Euro following commentary out of the European Union Summit, and hawkish commentary from the Federal Reserve’s Charles Plosser, who suggested that the FOMC would begin to drain liquidity and raise rates, thus boosting the value of the Greenback. Nonetheless, a dip below $1420 looks unlikely as geopolitical tension continue to increase in the weeks ahead.
The week ahead, fundamentally, should continue to propelthe precious metal higher, as investors continue to seek haven from renewed assets amid perpetually rising tensions in the MeNa region. Despite the ‘ceasefire’ the pro-Gaddafi forces ‘agreed’ to last week, clashes continued between the Libyan army, rebel forces, and the NATO coalition.As I noted last week, “any further tensions will almost certainly validate military occupation by a coalition of Western governments, which would send the price of gold even higher” this certainly contributed to the appreciation seen over the week. Rising tensions in Israel, Syria, and Yemen contribute to this sentiment.
The data last week supported a rally for gold, and with no signs that tensions are going to abate in the MeNa region, data this week should do the same. Despite rate hike expectations falling off for the Bank of England, they are indeed rising for the FOMC given recent commentary by policymakers. A fall in U.S. consumer confidence could send American investors heading towards precious metals as a safe haven – from economic uncertainty and from rising inflationary pressures. A flight away from the Greenback on deteriorating confidence will push the value of all precious metals higher, on a nominal basis.
On a technical basis, the pair bounced off 20-SMA, and has continued within an ascending channel which has been in place since the turn of the year. The RSI on the daily chart, after falling sharply the past two weeks, has moderately risen since last week, though remains below overbought levels, suggesting further gains in the week ahead as the recent corrective wave is, in fact, completed. The next leg higher, given continued stress on the markets, could send the pair to new highs established this week. The rate of pace at which gold is accelerating has also slowed, with the Slow Stochastic oscillator issuing a sell signal, with the %K turning lower than the %D this week, at 73 and 82, respectively. To this end, the MACD Histogram is tailing off of its bearish divergence the differential just turned positive once more. A break above the all-time high of $1447.88 could lead to a test of the range top at $1460. Technically, the picture is skewed, though given the fundamental backdrop, gains could be on the horizon regardless of recent price action. -CV DailyFX provides forex news on the economic reports and political events that influence the currency market. |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
26-Mar-2011 10:29
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
Closing Gold & Silver Market Report – 3/25/2011March 25, 2011At 4PM (CT) the APMEX precious metal prices were:
COMMENTARY: Precious metal prices drifted lower in afternoon trading, as the US stock market continued to go up. The US bumped up their 2010 4th quarter growth numbers, while at the same time stating they see growth slowing in early 2011. Charles Evans, President of the Fed’s regional bank in Chicago sees an improving economy, which could mean an end to further stimulus once QE2 has run its course. The US dollar rebounded, which along with profit taking, contributed to a drop in gold prices. Despite today’s rebounding US dollar, Warren Buffet is not a fan of long-term bond tied to the dollar. He flatly states that investors should avoid long-term bets in US dollars because their purchasing power will decline. Higher gasoline prices and the Japanese earthquake are the likely culprits in driving down consumer confidence in March. Consumer confidence fell to its lowest level since November 2009. It is not just fuel costs, but all the related costs to fuel and rising commodity prices.Food would be the first example. Gold spot price was off $5.00 – Silver price was down 4 cents – Platinum price was off $11.20 – Palladium price was down $1.30
|
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
25-Mar-2011 23:33
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
Morning Gold & Silver Market Report – 3/25/2011March 25, 2011At 8AM (CT) the APMEX precious metal prices were:
COMMENTARY: Gold snapped a six-session winning streak yesterday after touching on record highs. Dennis Gartman, CNBC guest analyst, would not be surprised to see a drop of another $25-$30, but he views this as a net positive. He says, “that decline would make markets healthy again.” He further elaborates that central banks around the world are diversifying away from US dollars and Euros and moving into the 3rd most important currency in the world – which is gold. Just when you thought it was safe to drink the water in Tokyo, the threat of more radioactive contamination once again surfaces.There is a suspected breach in the core of one of the nuclear reactors. A somber Japanese Prime Minister Naoto Kan delivered the news on Friday. With a pessismistic note he said,”we are not in a position to be optimistic.” Portugal’s sovereign debt rating has been cut two notches and now Spain begins to get the attention. It is now apparent that Portugal will need a bailout from fellow Euro zone members, but Spain is a horse of a different color. If Spain were to need a bail out it would be substantially larger than all of the others and it would severely test the financial strength of Europe. Gold spot price is down 50 cents – Silver price is up 8 cents – Platinum spot price is down $8.00 – Palladium price is off $2.25 |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
25-Mar-2011 17:39
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
SINGAPORE (Commodity Online) : Gold is set for yet another higher weekly finish Friday as fresh crisis in Portugal is expected to spur its safe haven demand while silver remained near 31 year high. However, the precious yellow metal turned volatile Friday as it approaching weekly finish as some investors took to profit selling to cash in on recent gains. Spot gold was seen trading at $1433.21 an ounce at 1.30 p.m Singapore time while April delivery gold was at $1434.07 an ounce opn the comex division of Nymex. Analysts said the precious yellow metal is likely to close higher for the week as geo-political tensions and Japan crisis are expected to keep fuel ling it while a weak dollar and Portuguese crisis added to its surge. They however said the metal might face some pressures on profit selling by some investors .silver also are subjected to selling pressure. The white metal was seen trading at $37.40 an ounce eat 1.30 p.m Singapore time after cash silver touched $38.165 an ounce Thursday. Spot silver gained 21 percent so far this year, compared to just 1 percent rise in gold. // Diversify your portfolio, invest in land and get a handsome return of 15-20%pa in 4 to 5 years. |
| Useful To Me Not Useful To Me | |
|
|
|
|
bsiong
Supreme |
25-Mar-2011 17:37
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
* Gold-silver ratio drops to lowest since 1983 * Gold rangebound between $1,422-$1,438 - technicals * Coming up: U.S. Reuters/U Mich sentiment 1355 GMT (Updates prices) By Rujun Shen SINGAPORE, March 25 (Reuters) - Spot gold held steady on Friday below the previous session's record highs, as worries over euro zone's debt crisis and Middle East turmoil supported sentiment, but prices may face headwind at key technical levels. Standard & Poor's downgraded Portugal's credit ratings, after its government failed to get austerity measures past parliament, stoking fears the country might need a bailout after all. Intensified euro zone debt concerns helped push spot gold to a record of $1,447.40 an ounce on Thursday, and silver to a 31-year high of $38.13. " The market will remain choppy, as the trend is not very clear even with support from the Libyan crisis and other factors," said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong. Spot gold inched up 0.3 percent to $1,434.10 an ounce by 0712 GMT, on course for a weekly rise of 1 percent. U.S. gold was little changed at $1,434. Technical analysis suggested that gold has entered a consolidation phase, likely within a range of $1,422 and $1,438, said Reuters market analyst Wang Tao. " Speculation on further monetary policy easing in the U.S., central banks' purchase, and recovering demand from the jewellery sector will help buoy sentiment in the gold market," said a Hong Kong-based dealer, but added that speculators are wary of holding long positions at high prices. The physical market remained calm despite the price spike, with Hong Kong's gold premium little changed around $1.50 an ounce above London spot prices, dealers said. == |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
25-Mar-2011 09:15
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
SINGAPORE, March 25 (Reuters) - Spot gold prices held steady on Friday after reaching a record high in the previous session, as worries over the euro zone's fiscal stability and geopolitical uncertainty in the Middle East supported sentiment. FUNDAMENTALS * Spot gold edged up 0.2 percent to $1,432.15 an ounce by 0038 GMT, after arching to a record high at $1,447.40 in the previous session on heightened worries on euro zone's debt crisis following the collapse of Portugal's government. * U.S. gold futures inched down 0.2 percent to $1,432.50. * Spot silver gained 0.4 percent to $37.28, easing from a 31-year high of $38.13 hit in the previous session. * The turmoil in the Middle East continued to support safe-haven demand in bullion as well as lofty oil prices. For stories on the region's crisis, click * Holdings in the iShares Silver Trust, the world's largest silver-backed exchange-traded fund, rose to a record high of 11,139.52 tonnes. MARKET NEWS * U.S. stocks advanced on Thursday as optimism about upcoming earnings and investor buying of the quarter's top performers lifted the S& P 500 above a key technical level. * The euro held steady on Friday on optimism European policymakers will be able to control a political and debt crisis in Portugal, though technical resistance could cap near-term upside. |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
25-Mar-2011 09:10
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
Closing Gold & Silver Market Report – 3/24/2011March 24, 2011At 4PM (CT) the APMEX precious metal prices were:
COMMENTARY: Gold and silver prices both reached record prices before profit takers moved in and drove prices down in late afternoon trading. Investors moved into equities again today, as the weekly initial jobless claims came in under 400,000 and the US dollar continued to decline. From this writer's perspective, I understand that the declining dollar is helping stocks, for the moment, for traders, but there could be a dramatic change happening that may not be getting much attention now, but will. Is gold going to replace the dollar as the world's reserve currency? This article is not about returning to the gold standard. It simply points out that the US dollar is losing its safe haven appeal. Central banks are selling dollars and they are buying gold.The declining dollar may be boosting stock prices now, but declining US dollars will not ultimately be a good thing. Warren Buffet came out and said that the collapse of the Euro is not “unthinkable.” He believes that every effort will be made to keep this from happening, but “ you can’t have three or four or five countries that are in effect free-riding on the other countries.” The GNP of Portugal is no bigger than Connecticut, but the GNP of the European Union is huge and will cause ripple effects worldwide should the union go south. Gold spot price fell $7.00 – Silver price was off 3 cents – Platinum spot price fell $5.00 – Palladium finished up $3.20 == Diversify your portfolio, invest in land and get a handsome return of 15-20%pa in 4 to 5 years. where is it? http://www.youtube.com/watch?v=kMOvjDJeOuQ PM me for details == |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
24-Mar-2011 23:16
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
Morning Gold & Silver Market Report – 3/24/2011March 24, 2011At 8AM (CT) the APMEX precious metals spot prices were:
COMMENTARY: Gold is fairly flat this morning, while silver continues its climb. U.S. stock futures are holding on to robust gains amid the release of data showing that jobless claims fell, as did orders for U.S. durable goods. The dollar index continued to weaken, and the euro surprisingly strengthened. Crude oil futures have topped $106 a barrel, which has many fearing further inflation. The euro zone debt crisis intensified yesterday, as Portugal’s prime minister resigned after parliament rejected his latest austerity measures. EU leaders meet today and tomorrow, and there is considerable pressure on Lisbon to seek a bailout package. Prime Minister Jose Socrates plans on attending the summit in a caretaking capacity, and is strongly against taking a bailout, which many believe is inevitable. Germany is also causing headaches for the European Union, but for different reasons. Euro zone debt issues, the conflict in the Middle East and North Africa, fears of inflation, and the ongoing nuclear crisis in Japan are all supporting the safe-haven appeal of gold. Gold spot price is up $2.10 on the day. Silver is up $0.55. Platinum is up $1.00. Palladium is up $6.70.
--
|
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
24-Mar-2011 21:46
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
SINGAPORE (Commodity Online) : Gold remained marginally up in Asian trade Thursday, fuelled by continuing unrest in the Mena region while silver hit another record. Spot gold was seen trading at $1439.14 an ounce at 2.00 p.m Singapore time and US gold futures for April delivery was at $1438.14 an ounce on the comex division of Nymex. Analysts said the precious yellow metal is likely to extend gains, despite slight advancement of the Dollar Index, as investors remained concerned about the Middle East and North Africa and Japan. However they said gold may face some pressure as the euro faced pressure on heightened worries on euro zone's debt crisis. Meanwhile, silver hit another record as cash silver prices was seen trading at $37.44 an ounce, highest in 31 years. // Invest in Land and get a handsome return of 15% p.a. in 4 to 5 yrs. Look no further, where is it? // |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
24-Mar-2011 18:09
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
LONDON, March 24 (Reuters) - Gold edged up on Thursday, shrugging off a stronger dollar, as concern over the euro zone debt crisis worsened after the Portuguese prime minister's resignation raised the chances of Lisbon seeking a bailout. PRICES * Spot gold XAU= was bid at $1,438.34 an ounce at 0823 GMT from $1,436.20 late in New York on Wednesday. * Silver XAG= was at $37.42 from $37.36. * Platinum XPT= at $1,750.74 from $1,751.81. * Palladium XPD= at $747.72 from $745.69 MARKET NEWS * The euro slipped on Thursday, pulling further away from a 4-1/2 month high versus the dollar on heightened concerns political instability in Portugal may force it to become the latest country in the region to seek a European Union bailout. much as 0.4 percent towards $115, after the resignation of Portugal's prime minister rekindled euro-zone concerns, prompting oil traders to unwind long positions and take profits. * European stock index futures pointed to a lower open for equities on Thursday, with investors seen trading cautiously on concerns that Portugal might require a bailout package to manage its debt. rose, but rising commodities prices due to turmoil in the Middle East and North Africa could keep rallies modest. [.n] FUNDAMENTALS * Colombia's energy minister said on Wednesday an
underground mine for Greystar's (GSL.TO) Angostura gold and
silver project was not viable if it compromised paramo or
sub-paramo environment systems. [ID:nN23284269]* Yamana Gold Inc (YRI.TO) said it increased its stake in Aura Minerals Inc (ORA.TO) by four-fifths to 18.7 percent by buying about 19 million shares of the mineral exploration company. [ID:nL3E7EN3N5] * Holdings of gold in the world's largest bullion-backed
exchange-traded fund, SPDR Gold Trust (GLD), were unchanged at
1,214.869 tonnes. [GOL/SPDR]TECHNICALS * Gold support at $1,420.00 an ounce, resistance at $1,445.00 an ounce and 14-day RSI at 65.6. * Platinum support at $1720.00 an ounce, resistance at $1758.00 and 14-day RSI at 48.9. * Silver support at $35.75 an ounce, resistance at $37.50 and 14-day RSI at 72.5. (Reporting by Amanda Cooper Editing by Alison Birrane) |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
24-Mar-2011 14:50
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
Gold extends gains as Middle East crisis supports* Expectation on continuously loose monetary policy underpins gold * Gold could rise to $1,450 - technicals * Coming up: U.S. unemployment claims, weekly 1230 GMT By Rujun Shen SINGAPORE, March 24 (Reuters) - Gold prices held steady on Thursday as it drew support from the spreading turmoil in the Middle East and talk of extended loose U.S. monetary policy after lackluster home sales data. Continued fighting in Libya, where western forces have failed to dislodge Muammar Gaddafi's armour, calls for the ouster of Yemen's president and Palestinian rocket strikes on Israel have heightened geopolitical uncertainties in the region. " Gold is expected to remain firm, as there is a lot of geopolitical uncertainty and money printing going on," said a Singapore-based trader, referring to the looser monetary policy adopted by Japan's central bank after the earthquake hit nearly two weeks ago. " But there is strong resistance at $1,440/$1,445 level, so we'd need a good headline to break through," he added. Spot gold inched up $1.14 to $1,437.34 an ounce by 0313 GMT, after hitting $1,440.90 in the previous session, which was just off the record high of $1,444.40. U.S. gold was little changed at $1,437.70 an ounce. Technical analysis showed that spot gold may gain further to $1,450 per ounce, according to Reuters market analyst Wang Tao. Gold prices were also being supported by a record low in U.S. home sales in February, which fanned speculation that the Federal Reserve might extend its $600 billion bond purchase programme. Concerns that the economy would be flooded by cheap money add to gold's allure as an inflation hedge. The dollar index edged up as the euro faced pressure on heightened worries on euro zone's debt crisis, capping gold's gains, but euro's loss could be limited on expectations of a interest rate hike by European Central Bank next month. " The impact on markets from euro zone's debt crisis has been diminishing, as investors have confidence in the bloc's leaders' ability to handle the problem, based on experience over the past year," said Hou Xinqiang, an analyst at Jinrui Futures. Gold miners were upbeat on prices of bullion going forward, with Minera Andes Inc and US Gold Corp forecasting $5,000 gold price in three to four years. Spot silver inched down 0.4 percent to $37.23 an ounce, after touching a 31-year high of $37.40 on Wednesday. / Invest in Land and get a handsome return of 15%p.a. in 4 to 5 yrs. Look no further, where is it? . |
| Useful To Me Not Useful To Me | |
|
bsiong
Supreme |
24-Mar-2011 10:22
Yells: "The Greatest Wealth is Health" |
|
x 0
x 0 Alert Admin |
Gold steady on euro zone, Mideast crisis worriesSINGAPORE, March 24 (Reuters) - Gold prices held steady on Thursday after recent gains as worries over the euro zone debt crisis and unrest in the Middle East buoyed investors' interest in bullion. FUNDAMENTALS * Spot gold edged up $1.05 to $1,437.25 an ounce by 0036 GMT, after arching to $1,440.90 in the previous session, just off the record high of $1,444.40 hit on March 7. * U.S. gold futures were little changed at $1,437.50. * Spot silver edged down 0.3 percent to $37.24, after hitting a 31-year high at $37.40 on Wednesday. * Sentiment in gold was buoyed by record-low U.S. home sales which could slow the economic recovery and triggered talk that the central bank might continue easier monetary policy beyond its $600 billion bond purchase programme. * Portuguese Prime Minister Jose Socrates resigned after parliament rejected his government's latest austerity measures, heightening concerns on the euro zone's sovereign debt problems and feeding safe-haven demand in bullion. * The crisis in the Middle East and North Africa deepened as Palestinian rockets attacked Israel, while fighting in Libya continues. MARKET NEWS * U.S. stocks advanced on Wednesday as materials shares rose, but rising commodities prices due to turmoil in the Middle East and North Africa could keep rallies modest. * U.S. crude oil held steady on Thursday, after ending the previous session at a 2-1/2 year high on Middle East unrest. * The euro steadied against the dollar on Thursday, holding well on prospects of an interest rate hike next month and expectations that European policymakers have the will to resolve the debt crisis. |
| Useful To Me Not Useful To Me | |
