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bsiong
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25-Jan-2011 18:33
Yells: "The Greatest Wealth is Health" |
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LONDON, Jan 25 (Reuters) - Spot gold hit a two-month trough on Tuesday, as support from safe-haven demand diminished on strong economic data and earnings reports, however tight supply in Asia is expected to provide a floor for prices. |
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bsiong
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25-Jan-2011 18:30
Yells: "The Greatest Wealth is Health" |
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SINGAPORE (Commodity Online) : Gold prices eased in Asian trade Tuesday mainly after equity markets surged, eroding bullion’s safe haven appeal. Spot gold was seen trading at $1333.74 an ounce at 1.30 p.m Singapore time while February-delivery contract in New York lost was at v$1329.61 an ounce . Analysts said the precious yellow metal is likely to regain some of its losses during the day as a weak dollar and physical buying might pushed up the demand. Silver, platinum and palladium also fell. Spot silver fell to $26.64 an ounce, its lowest in nearly two months. It was trading at $26.77, down half a percent. Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 10.926 tons, its biggest one-day loss since early October, to 1,260.843 tons by Jan 24. Holdings in the iShares Silver Trust gained 0.8 percent to 10,478.08 tons, off an 11-week low of 10,394.53 tons on Jan 21. On Monday, gold futures on the rose as bargain hunters stepped in following a 2-day decline. The most active gold contract for February delivery gained $3.5 per ounce, or 0.26 percent, to settle at $1,344.5 . However, silver for March delivery decreased 10.6 cents, or 0. 39 percent, to 27.321 dollars per ounce. April platinum also shed 2.7 dollars, or 0.15 percent, to 1,819.6 dollars per ounce Gold futures struggled last week, hitting a low not seen since Nov. 17 on Friday, with investors appearing willing to take on more risk amid broadly strong corporate results from the U.S. and an improvement in U.S. economic data. |
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bsiong
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25-Jan-2011 01:16
Yells: "The Greatest Wealth is Health" |
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For a 24-hour gold technical outlook: |
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bsiong
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25-Jan-2011 01:15
Yells: "The Greatest Wealth is Health" |
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Gold rises after two-day decline; ETF holdings up
* Gold ETF holdings up 1.6 pct; iShares holdings down * Gold bearish target at $1,322 - technicals * Coming up: EZ Markit Mfg flash PMI, Jan; 0858 GMT SINGAPORE, Jan 24 (Reuters) - Spot gold prices firmed on Monday, regaining some lost ground after falling for two consecutive days, while holdings in the SPDR Gold Trust rose for the first time in two weeks as some investors enter the market eyeing further price gains. The euro rose to its highest in more than two months on Monday, after upbeat data from Germany showed business sentiment rose to its highest in 20 years on the back of a manufacturing sector now fully recovered from the 2008 financial crisis. The improved economic outlook over the past weeks has dimmed gold's appeal as safe-haven investment, but concerns about inflation may continue to support, analysts said. "The market is watching the risk appetite revolving around the euro. With that risk appetite increasing, that takes away some of the safe-haven support in gold," said Mark Pervan, an ANZ analyst. "But that's passing to some degree, once the support from European data has sort of been processed. The market is now swinging back to looking at the slightly weak U.S. dollar and that might spur some support." Spot gold rose by 0.7 percent to $1,351.25 an ounce by 0656 GMT, after dropping to a two-month low of $1,337.5 on Friday. It crossed above the 100-day moving average at $1,352.27 earlier, which was breached last week. U.S. gold futures gained 0.7 percent to $1,350.2. But a bearish target at $1,322 per ounce is unchanged for spot gold , as a downtrend is steady and expected to Gold flows from Hong Kong to mainland China in the first 11 months of 2010 nearly tripled from a year earlier to 107.722 tonnes, the Hong Kong Census and Statistics Department said. Holdings in the SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, jumped 1.6 percent to 1,271.769 tonnes. It was the first rise in about two weeks, and biggest rise in more than seven months. The holdings increase signals the return of interest from some investors, who saw the $1,340 level a solid support and expected gold prices to further rise in an improving economy. "You've got the old usual factors, such as inflation, which is globally going up. We are at the beginning of a recovery, what will happen if the recovery is in full swing?" said Darren Heathcote, head of trading at Investec Australia. Fears about inflation spurred a slide in Asian equities since the start of 2011, but the decline seen as a paring of exposure to economies seen with the most to lose. Speculative net long positions in U.S. gold futures fell to 164,993 by Jan 18, from 177,372 a week earlier, the U.S. Commodity Futures Trading Commission said. Holdings in the iShares Silver Trust , the world's largest physically backed exchange-traded fund, fell 1.3 percent to 10,394.53 tonnes, its lowest since early November. Spot silver rose by 1.4 percent to $27.85 an ounce, recovering from a three-day losing streak that took the metal to $27.10 on Friday, // |
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bsiong
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23-Jan-2011 10:46
Yells: "The Greatest Wealth is Health" |
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WEEKEND READING... 'Gold to hit $1600; Silver to touch $40' January 23 2011 01:55 GMTCorrection? What correction? Chris Berry, founder of House Mountain Partners, and Michael Berry, publisher of Morning Notes and Discoveryinvesting.com, think the 2011 price correction in precious metals is nothing but a passing fancy, and that gold and silver will be back on their respective ascents by year-end. If anything, gold and silver equities are currently on sale. In this exclusive interview with The Gold Report, Chris and Michael reveal some of their favorite gold and silver plays in Colombia and the Yukon. The Gold Report: Gold and silver are off to rocky starts so far this year. But some gold pundits are still bullish on gold, predicting the yellow metal could finish 2011 at about $1,600/oz. Is the roughly 4% drop we've seen in the 2011 gold price simply profit taking by gold investors, or is something more fundamental behind gold's price weakness? Michael Berry: Well, I don't think there's anything fundamental about it. The gold price ran up toward the end of the year. There was a lot of positioning by the buy-side investors in gold and silver. I think the situations of both gold and silver are fundamentally different today—particularly silver, which could soon have reasonable position limits in the futures markets. We don't yet know what they'll look like. Legislation on the horizon is going to force hedgers and manipulators of these markets to reduce their short positions. I think it's remarkable that gold traded above $1,400/oz. When I was first involved with silver a few years ago, it was trading at $4.20/oz.; in late December, it traded over $30/oz. I think this current pullback is simply a correction—a needed correction. I don't think it's a fundamental change in the precious metals market at all. If you look around the world today, you see everybody printing money. Economies are trying to drive their fiat currencies down. It's a race to the bottom—Brazil, China, the United States. There is weakness in Europe because of problems with sovereign debt, and those problems aren't completely solved; neither are the problems in the U.S. I just read a report this morning about the state of Illinois needing to raise personal income tax by 75%. People are very leery of the dollar and of fiat currencies in general. Gold and silver will both benefit from that. Maybe gold will go down another 5% or 6%, but then we'll have a nice bounce back. I should also add that the dollar's been stronger. When the dollar is strong, commodities fall. The dollar is still in demand because it's the world's reserve currency. You've got to have dollars for both deleveraging and paying off debts. There are these periods when the dollar gets stronger and that has a dramatic, negative impact on commodities. It has been a bit painful, and we could still see some weakness in the precious metals and shares; but, in the long term, I don't think fundamentals have changed. I think they have only become stronger. TGR: What's the average price we're going to see for silver and gold in 2011? MB: I think gold is probably going to average $1,500/oz., and possibly reach as high as $1,600/oz. That would be a good move for gold if it could do that. I hesitate to predict an average for silver. There will be a short covering in silver. There are still a lot of commercial traders, including JP Morgan, which were significantly short in the silver futures market. The mints around the world are producing several million 1 oz. silver coins a month. We could really see silver go quite a bit higher. But I think we will easily have $35/oz. or $40/oz. If geopolitical and economic trends continue down their current paths of excess liquidity, these metals will move up. TGR: For the sixth consecutive year, China boosted its gold production. It produced a record 340 tons of gold in 2010—a record—while it imported another 210 tons of gold. What does this tell us about China's potential to impact the gold price and its view of the yellow metal in general? MB: Stepping back in history, China was on a silver standard for several hundred years. It was pulled off the silver standard through a deflation and a hyperinflation caused by FDR's administration in the 1930s. China has always been a proponent of hard—not fiat—money. As the country eventually allows its yuan to appreciate, it's going to want to have that back. I think what China is doing is very shrewd. It is mining a lot of gold and importing a lot of gold; that will, in essence, back its currency. China is now the largest silver producer in the world. It will not be a formal precious metal backing, but it will certainly bring power to the Chinese currency as, ultimately, it floats relative to the dollar. The country will have to float its currency at some point because its economy is suffering from inflation. Already it is moving toward convertibility. China really needs a higher yuan to stem investment inflows into the country and douse inflationary tendencies. I think it's very important that the country mine as much gold and silver and import as much gold as it can with its vast foreign exchange surpluses, which continue to accumulate. TGR: You and Chris recently gave some presentations on The Yukon Room, an online investment conference focusing on the Yukon. Please outline what you discussed there. Chris Berry: A lot of the work my father and I do focuses on the emerging quality of life cycle associated with the emerging world. Natural resources really underpin this cycle and are the backbone of any economy. I'm referring to the hard assets needed to make the refrigerators, cars and iPods, etc. that add to one's quality of life. With that concept in mind, I visited the Yukon last summer on a property tour. I consider the area an emerging market, but not in the same sense as China or India or Colombia. I think the Yukon shares a lot of similar characteristics with those places, albeit on a smaller scale. There are very few untapped mining exploration areas in developed countries these days. The Yukon is a perfect example of a location with high exploration upside. With The Yukon Room, we advanced the thesis that the Yukon is this generation's emerging market from an exploration perspective. TGR: You talked a bit about Antioquia Gold Inc. (TSX.V:AGD) in your last interview with The Gold Report in July 2010. The company owns the Cisneros gold project in Colombia and recently published some metallurgical test results from the ore there. What do you know about those tests? CB: The results from the tests are very promising; they told the company the metallurgy is in great shape. What's most important, though, is that the test results increased the size of the deposit significantly in both strike length and depth. The depth has reached to about 325 meters. In 2010, Antioquia drilled 79 holes and hit gold in all but two of them. The other two holes actually weren't a total loss, as results from those told the company where not to drill. After Antioquia published the press release on the metallurgical tests, I spoke with President and CEO Rick Thibault. In 2011, he says Antioquia will go underground at Cisneros to get more details on the mineralized gold structures. Another thing I'll say about the company is that core from four holes is still in the assay lab. Those holes were drilled into new underground structures. We don't know the results from those holes or what story they're going to tell, but there could be additional upside there. TGR: You talked about Antioquia wanting to go underground and examine the deposit at that level because Cisneros has these high-grade pods, but the high-grade mineralization doesn't seem to continue across the property. Did Rick talk about processing some of that high-grade ore as Antioquia goes underground, to generate some cash flow to fund further exploration? CB: Yes, potentially. The company's goal is to be a small-scale producer while still exploring what is actually a very large property. Ideally, Antioquia would like to produce 30,000 oz. (30 Koz.) per year, generating cash flow and funding exploration over the next couple of years. There's just an awful lot of upside. We mentioned earlier that the Yukon is one of the last unexplored or underexplored places in the world. I would also include Colombia in that group, but for different reasons.  One of the other feathers in Antioquia's cap is this strategic investor, the exploration arm of Peruvian gold producer Consorcio Minero Horizonte S.A., known as Desafio Minero. The company has partnered with Antioquia to help it understand the geology and the process of getting into production. Desafio is producing about 200 Koz. gold per year in Peru, 180 Koz. of which comes from a mine that has geology almost identical to that of Cisneros. That's another reason I really like Antioquia. Its partners have the process to production almost solved. TGR: Does Desafio have a direct stake in Antioquia? CB: It does. I think it's 19.9%. TGR: Are there other exploration companies working in Colombia that you're following? CB: It's hard not to keep your eye on Ventana Gold Corp. (TSX:VEN). It's the darling of the Colombian gold explorers and it just rejected a potential takeover offer. Another one that's interesting is Galway Resources Ltd. (TSX.V:GWY). That's not just a gold play; it's also a coal play. Another one that I've been keeping my eye on is Mercer Gold Corp. (OTCBB:MRGP). That one is interesting. Its property is actually on the opposite side of a mountain from Medoro Resources Ltd.'s (TSX.V:MRS) Marmato Project, and Medoro is having a little bit of a PR problem there. It has this gigantic deposit—about 9 Moz. gold—but the problem is, it's underneath a village. Medoro is trying to get those issues worked out, but Mercer is on the other side of the mountain and doesn't have those relocation issues. Then again, Mercer has a long way to go with respect to drilling and defining a resource. There's potential upside there if you think that the geology on one side of the mountain crosses over to the other. Mercer could be an interesting one to watch. TGR: What are some projects that stood out on your visit to the Yukon? CB: There are about 150 companies exploring up there, but only a couple are producers. The company I'm most familiar with in the Yukon is Golden Predator Corp. (TSX:GPD), which is run by CEO Bill Sheriff. The company has a very large property position—probably about 1,400 square km.—one of the largest explorations plays in the Yukon. Golden Predator is going to drill on two of its most promising properties, Brewery Creek and Grew Creek, in February. Drilling in February is somewhat off the charts because most companies don't even attempt winter exploration in the Yukon. Rather than waiting until April or May to start the drills, I think the company just wants to get up there and get some news out. The Brewery Creek project is actually a past-producing mine. It's got an NI 43-101 resource estimate. One of the more significant things about Golden Predator is that it just hired Mike Burke as chief geologist. I've met Mike a couple of times; he's a great guy. He has worked for the Yukon Geological Survey for about 20 years; so, if there's one person who knows the Yukon, it's Mike Burke. So, Golden Predator's got this encyclopedic knowledge about Yukon geology on staff. That has to bode well for the company. The other company with a very large land position in the Yukon is ATAC Resources Ltd. (TSX.V:ATC). It has an even larger land position than does Golden Predator. TGR: I think drilling in February is significant because the news flow tends to dry up over the long Yukon winter. If a company's not getting the attention of the market, its stock price usually goes down. CB: No question about it. And with roughly 150 companies in the Yukon now, you really have to fight for investors' attention nowadays. TGR: Are there any other companies that you're following in the Yukon? CB: Another one I really like is Alexco Resource Corp. (TSX:AXR; NYSE.A:AXU). CEO Clynton Nauman and his team just achieved commercial production at the Bellekeno high-grade silver mine. It was supposed to happen last quarter, but earlier this month Alexco officially announced that it had reached commercial production. This is significant because Bellekeno is Canada's only primary silver mine. One of the other things I like about Alexco is that it has a small environmental practice that was providing cash flow during the exploration phase. That's something I like to see a company do, instead of having to go back to the market constantly for cash and further dilution. I should add that the company's still exploring its extensive land package, which is in a past-producing region. I know the stock's had a great run in the last few months, largely on the back of this production promise and the rising silver price. But if we see $35/oz. or $40/oz. silver by the end of 2011, that has to benefit Alexco. TGR: What sort of production guidance are we looking at in 2011? CB: Alexco is looking at about 2.5 Moz. silver in 2011. The company plans to produce a bit less in 2012 and 2013, but that doesn't factor into any additional discoveries it could make between now and then. I think the cash costs are around $4/oz. TGR: If you can produce silver at $4 and sell it for $30, that's generally a recipe for success but Alexco's share price has already factored in a lot of those gains. CB: Yes, I know. It's at $6.11, which isn't a typical price for a junior. That just shows that Alexco is graduating to the next phase of development, which is exciting. TGR: Mike, we continue to see consolidation in the gold sector—especially among the juniors. In a growing number of cases it's a cash-rich/project-poor junior merging with a cash-poor/project-rich junior. One recent example is Terraco Gold Corp. (TSX.V:TEN) merging with Western Standard Metals Ltd. (TSX.V:WSM). You discussed that business combination in a recent edition of Morning Notes. What do you make of the deal and are we going to see more mergers like this? MB: We really like the deal. And though it has not yet been approved by the shareholders of Western Standard, we think it will be approved. The resource, which is largely measured and indicated, is about 900,000 of open-pit ounces of gold. We think gold in the ground is worth about $150/oz. If Terraco recovers just half of this, it will be a very accretive deal for the shareholders. But we think the real value in the Almaden resource probably lies deeper and has yet to be discovered. When old pros with great discovery track records like Ken Snyder and Curt Freeman like a deposit, we think it's worth having. There should be quite a few of these kinds of consolidations if, as we believe, gold holds its own over the next few years. Terraco has one of the Street's most admired management teams in CEO Todd Hilditch, who is a real up-and-comer and is admired by the investment banking community for the successful deals he has arranged. TGR: Do either of you have some parting thoughts on precious metals, gold and silver in particular? CB: There's been a bit of a blowoff in the precious metals to start the year, but I think it's largely because those metals had such a huge run in the fourth quarter of 2010. People ask me, "Is the bubble bursting?" I don't think there is a bubble in precious metals. I just look at the macrofundamentals. I look at the eurozone. I look at the fiscal condition of the United States. I look at inflation in China. What has fundamentally changed with these metals since the beginning of the year? Nothing. Nothing has happened to change my opinion that gold is going to continue its upward trajectory, as will silver. TGR: Thank you for taking the time to talk with us, gentlemen. (The Gold Report) |
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bsiong
Supreme |
22-Jan-2011 18:56
Yells: "The Greatest Wealth is Health" |
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Gold price may erode next week January 22 2011 06:25 GMTBy Debbie Carlson (Kitco News) - Gold prices continued to fall this week as short-term sentiment turned against the yellow metal, but some market watchers said the momentum of the decline could be nearing an end. The $1,325 to $1,275 an ounce area for the February gold contract on the Comex division of the New York Mercantile Exchange is seen as a major test of support. If it holds, that area will provide a floor in the near term. February gold closed at $1,341 on Friday, down 1.5% on the week. March silver settled at $27.427 an ounce, down 3.1% on the week. Gold and silver were hit this week as investment outflows from exchange-traded funds, asset allocation to other commodities and a return to ideas that the U.S. economy is rebounding have hit the metals. As losses mounted this week, margin-call selling emerged, adding to the weakness in both markets, traders said. The February gold contract came under pressure from position rolling into deferred contracts. Bill O’Neill, one of the principals with LOGIC Advisors in Upper Saddle River, N.J., said when looking at technical charts, “clearly the market has broken down,” a trend he said which started in mid-December. He said asset allocation out of gold began then as investment funds took profits made last year and so far in 2011, those market participants haven’t returned. He said it’s not unusual to see corrections early in the year. His firm recommended to clients not to initiate long positions during the end of December-early January because they expected a pullback. O’Neill added that this correction might not have much more energy in it, so he said his firm is looking for a spot to recommend buying gold again as the market’s long-term action still suggests prices are consolidating in a longer-term uptrend. Some analysts said the announcement of Chinese and Indian rate hikes are to blame for the weakness in precious metals in general, but O’Neill dismissed that theory. “We’ve seen in the past a number of corrections develop after tightening by banks, but the uptrend resumes. There’s a slight slowing, but Chinese demand is very strong. They still have a solid GDP,” he said. O’Neill added he just spend three weeks in Asia and said the level of economic activity there is “unbelievable,” and not just in China, but in Singapore, Vietnam and Cambodia, too. Ken Morrison, editor and founder of the online newsletter, Morrison on the Markets, said even with the price break, he considers gold technical charts price-positive as the 100-day moving average is still rising. “The market broke recent lows but we can’t say definitively that it’s confirmed a long-term top and is changing trends until or unless it breaks and closes below the $1,325 level…. I’ll get concerned about the long position if it tests the $1,325 level but will be inclined to add to the long if it closes above $1,355.” Futures traders said February gold could remain under pressure next week as rolling of positions from the February contract to April will still continue ahead of first notice day on Jan. 31. Gregory Marshall, chief executive officer, Global Asset Management, a precious metals wholesaler, said the long-term view for gold remains positive, even as the market is experiencing a short-term pullback. “We’re seeing a retracement. Investors - since we’re in the MTV generation - investors get nervous easily. But it’s healthy and natural, even in a bull market, to retrace. We have seen it before … and we have seen some substantial declines – as much as 12% - even in a bull market,” he said. Marshall said the factors that supported gold in 2010 – sovereign risk in Europe and deficit worries in the U.S. - remain in place, which is why he is expecting 2011 to still be a positive year. “Your readers have to decide if they are speculators piling in, trying to time the market, looking for volatility and to make money (short term). Or, are they investors who don’t care about the day-to-day or the weekly fluctuations? You can expect short-term corrections, but this can be a long-term buying opportunity,” he said. By Debbie Carlson of Kitco News |
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bsiong
Supreme |
22-Jan-2011 10:24
Yells: "The Greatest Wealth is Health" |
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Closing Gold & Silver Market Report – 1/21/2011January 21, 2011At 4PM (CT) the APMEX precious metal prices were:
COMMENTARY:Considering that precious metal prices began the day retreating sharply, there was quite a nice turn around. Gold rallied to only being down $4.30, while silver was up 2 cents, platinum was up $10.80 and palladium rallies up $8.20. A positive economic outlook will generally drive up platinum and palladium due to their industrial uses. However, it tends to drive down gold on the assumption that investors will move from safe haven investments to those with more risk. However, investors with a long term view understand the potential for risk and the need for gold as protection.These investors are still recommending hard physical assets such as gold. There is no doubt that China will continue to play a larger and lager role in influencing the global economy. This will be especially true for the gold market, as there is every indication China will continue to buy gold. |
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bsiong
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21-Jan-2011 23:01
Yells: "The Greatest Wealth is Health" |
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Morning Gold & Silver Market Report – 1/21/2011January 21, 2011At 8AM (CT) the APMEX precious metal prices were:
COMMENTARY: Precious metal prices are bouncing off morning lows and platinum spot price is now in the black. In 2010, China imported 40% more platinum than in 2009. Platinum is not only used by the automobile industry, it also is used in jewelry and in pollution-control devices. Considering the pollution problems China is dealing with, it would seem their taste for platinum is most likely to continue to go up. (Not to mention they are the world's largest car market.) This same article points out that silver exports fell because of China’s high domestic demand. This should continue to put pressure on the supply side for the global silver market. The state of California declared a state of fiscal emergency yesterday as they tackle a $25.4 billion budget gap. Although this declaration is procedural, it does give state lawmakers 45 days to address the issue. Gold spot price is currently down $7.20 – Silver price is down 30 cents – Platinum spot price is up $1.40 – Palladium price is down $6.40 |
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niuyear
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21-Jan-2011 17:19
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Gold looks expensive to buy. It takes someone gutsy to buy at such high level. |
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bsiong
Supreme |
21-Jan-2011 13:18
Yells: "The Greatest Wealth is Health" |
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bsiong
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21-Jan-2011 13:15
Yells: "The Greatest Wealth is Health" |
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Closing Gold & Silver Market Report – 1/20/2011January 20, 2011At 4PM (CT) the APMEX precious metal prices were:
COMMENTARY: Precious metal prices fell in early morning trading and then stabilized.Although precious metals are a long term play for those acquiring the actual physical metal, the popularity of gold has allowed for price movements based on nothing but the day’s news cycle. China and Brazil are raising interest rates to fight inflation. The economic data looks good so metals go down. Next day they look bad so metals go up. The Dollar is up and the next day it is down. Gold is an insurance policy that you buy to protect your wealth against economic uncertainties at home and abroad,financial market instabilities, inflation, currency fluctuations and geopolitical tensions amongst others. Please keep in mind that none of these potential negative events are affected by today’s news. They are by nature long term views. Gold spot price was down $25.20 – Silver spot price is down $1.36 – Platinum price is down $24.90 – Palladium price is down - $8.30 |
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bsiong
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20-Jan-2011 18:41
Yells: "The Greatest Wealth is Health" |
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Silver has outperformed Gold by 235% since 2001 January 20 2011 08:25 GMTNEW YORK (Commodity Online): These are the times when investors are asking these questions to bullion analysts: which is the best precious metal to invest in? Gold or Silver? Platinum or Palladium? No bullion expert can give you the accurate forecast as to where you should put your money in. But silver is shining as the brightest and most fortunate precious metal for investors for the last 10 years. Just remember that silver price in 2001 was just $4 during which time the gold price was around $265. So if you look at the climb of silver and gold since 2001, it becomes clear that silver is an outperformer to gold. According to precious metals analyst Mark Thomas, silver has been outshining gold in the last 10 years. In the following, fascinating article, Thomas explains 15 reasons why you should invest in silver. And he says silver has outperformed gold by 235% since 2001. Read the following 15 reasons from Mark Thomas on why you should own silver: 1. The US Dollar has lost 20% of its purchasing power just since 2000 and 30% since 1990. 70% of that decline has been since 1978 when the mandate for the Fed was changed to a dual mandate of both price stability and full employment. Since the Federal Reserve was created in 1913, the US dollar has lost 95% of its purchasing power. When you compare the appreciation in precious metals to the dollar in those same time frames, those facts alone should convince you that you need significant exposure to the sector protect your wealth. 2. Central banks for decades have been selling off their reserves of silver to meet excess demand which has kept prices artificially low. That has made mining unprofitable for so long there is a deficit of annually mined silver at today’s prices.3. Since 1980 the above ground available gold stores have increased 600% while above ground available silver stores have been reduced 90% during the same time frame. 4. The Silver Exchange Traded Funds have democratized precious metals investing to the average investor who know doesn’t have to worry about delivery and storage. This increase in demand from new investors is removing almost 30% of current production annually. That is a positive as long as investors continue adding to their holdings. Surprisingly Silver investors even during the panic of 2008 amidst a 50% decline in the price of silver actually added to their positions. 5. While there are no easily verifiable statistics, new physical mined supply has not met actual demand for years. This excess demand has been met with central banks selling around the globe. 6. A significant silver mine needs multi millions of dollars (in some cases hundreds of millions) to get started, could take three to five years before any production has begun. 7. In a precious metals bull market, silver consistently over the long-term outperforms gold. Since October 2001, silver has increased in price from approximately $4 to a recent high of $31 which is an approximate 775% gain. During that same approximate time period, Gold went from $265 to a recent high of $1430 for an approximate gain of 540%. So Silver outperformed Gold by 235% in the same time period. 8. This time participation by investors will be global! In 1980 only investors from North America, Europe and the Middle East were involved in big precious metals bull market. Now there are hundreds of millions of new potential investors in the same countries but most importantly in China, India and the former Soviet Union. This Bull market will be global in nature which will make it that much more explosive to the upside. 9. Silver is the more attractive to average investors when gold prices are more than $1000 per ounce. 10. China which is a significant producer of silver and used to export a significant percentage of their production. They have now significantly limited exports. 11. It is believed that China is purchasing and storing large quantities of both gold and silver. China’s objective is to make their currency the new reserve country for the world, so they can diversify out of the consistently declining US dollar. 12. China’s Premier just called the US dollar “a dinosaur of the past” so their goal is pretty clear to anyone listening. 13. To make the Chinese currency different from all other fiat currencies it will be backed by a reserve of gold and silver. 14. When economies of major societies use fiat money that is backed by nothing precious metals approximately every forty years do an accounting and rise in price to equal all the paper money every created and the debts incurred. 15. Precious metals will be the fifth and final asset bubble in the next three to five years. First were the internet and technology stock market bubble, then real estate, then an overall world wide credit bubble, then the US Treasury market. Finally a lack of confidence in the currency and solvency will lead to the most spectacular transfer of wealth yet with an explosive bubble in precious metals prices. Courtesy: www.thesilvershortage.com |
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bsiong
Supreme |
20-Jan-2011 18:34
Yells: "The Greatest Wealth is Health" |
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Silver could be the next target of panic selling formula January 20 2011 06:40 GMT By Chris Vermeulen Yesterday the stock market bled out with a river of red candles. All of the recent gains vanished in one session. Strong selling volume sessions like this are typically a warning sign that distribution selling is starting to enter the market. Distribution selling is when the big money players start unloading large positions in anticipation of a market top. They do try to hide it by selling into good news or earnings when the average investors are buying into all the hype of better than expected earnings on the news. As average investors jump into the market because of the good news, this extra liquidity helps the big money players (banks, hedge funds, etc..) sell large amounts of their positions to the eager buyers. This is why the “buy on rumor and sell on the news” saying is kicked around wall street…. To me, panic selling is typically seen as a bullish sign to enter the market simply because if everyone is/has rushed to the door to sell what they own, then really most of the down side risk has been taken out of the market. That being said after an extended multi month rally and higher than selling volume I look at it more like distribution selling and a shift in momentum. I feel the precious metals sector will be starting something like this in the near futures, and possibly it has already started as seen in the rising volume on the down days. AAPL – Apple Stock Two days ago AAPL shares took big hit because of some medical issues with the CEO, the shares did float back up. But what is important here is the distribution selling which took place after Apple came out with much better than expected earnings. The general public loves to buy good news especially when it’s for a famous company. But large sellers stepped in unloading as much of their position as they could before making it look to obvious. The average investor listening on the radio or catching snippets on the news do not pick up on these things which is why the big money players can get away with this over and over again. GS - Goldman Sachs Goldman came out with average earnings being just above estimates and the share price took a beating with very strong volume. Distribution selling looks to be entering the market and this is a bearish sign. I would not be surprised if we see the market top out in the next 5-10 trading sessions. SPY – SP500 In a ten minute chart, you can see my green panic selling indicator spiking up much higher than normal dwarfing the past sell off spikes. This makes me think the big money is now starting to unload which will shift the current upward momentum to more of a sideways whipsaw type of price action. Eventually it will roll over and a new down trend will start. SP500 is trading down at a support level so a bounce is likely going to take place. If in fact yesterday was the first distribution day then the big money should let the price inflate back up to the recent highs and possibly make a new high to help keep investors bullish before the hit their SELL BUTTON again… They like to play these games and understanding them is a key part of trading. Expect choppy price action for a week or two… Silver - The Next Wave of Selling? I look at silver and gold as one… so what I show here is the exact same for gold. Silver is trading under 3 of its key moving averages and todays bounce was sold into after testing the 14 and 20 period moving averages. The Mid-Week Market & Metals Trading Conclusion: In short, the financial power players are pulling out all the tricks to shake traders out of their positions. A lot of people shorted the market in the past 2 weeks only to get hung out to dry and most likely stopped out of their short positions for a loss. Fortunately we did the opposite taking another long position in the SP500 ETFS because my market internal indicators, market breadth and simple trading strategy clearly pointed out that the average investor was trying to pick a top by shorting the market. As we all know, the market is designed to hurt the masses which is why I focus on the underlying trends, price action, volume and market sentiment for timing trend changes. That being said, I still think the market could grind higher and make another new high. But any rally or new high will most likely get stepped on with heavy selling. Expect strong selling days followed by a couple days of light volume sessions where the price drifts back up into resistance levels. This could take a week or two to unfold so don’t jump the gun and short yet. It’s best to see more distribution selling before picking a top. Courtesy : www.thegoldandoilguy.com
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bsiong
Supreme |
20-Jan-2011 18:31
Yells: "The Greatest Wealth is Health" |
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Gold eases in Asia as dollar gains January 20, 2011 at 12:00 SINGAPORE (Commodity Online) : Gold eased marginally in Asian trade Thursday as the dollar gained momentum while holdings in the SPDR Gold Trust also dropped. Gold for immediate delivery was seen trading at $1370.70 an ounce at 12.30 p.m Singapore time while The February-delivery contract was at $1368.47 an ounce on the Comex in New York. However, analysts said the precious yellow metal is likely to climb back as physical buying in Asia continued to support, while data from China showing a higher-than-expected inflation number buoyed sentiment. Asian stocks retreated from two-month highs and the euro was hit by a bout of profit-taking on Thursday, felled by disappointing earnings from Wall Street heavyweights. The dollar index .DXY edged up, as the euro rally took a breather. Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, continued to decline. It fell to 1,251.433 tons by Jan 19, its lowest since May 2010. IShares Silver Trust, the world's largest silver ETF, also pared holdings to 10,575.32 tons, its lowest in more than two months. Holdings in the fund had been falling continuously this month, down more than three percent so far. Spot platinum was steady at $1,830.25, off the 30-month high of $1,845.5 hit on Wednesday. Spot palladium was little changed at $811.50, after hitting $825.5 in the previous session, its highest since March 2001. On Wednesday, gold futures on the comex division of the New York Mercantile Exchange eked out a 0.1 percent gain as the recent weakness in dollar offered a boost to the precious metal. The most active gold contract for February delivery added $2, or 0.1 percent, to $1,370.2 per ounce. Silver futures for March delivery pared 11.1 cents, or 0.4 percent, to $28.801 per ounce. April Platinum added $9.8 , or 0.5 percent, to $1,838.1 per ounce. |
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bsiong
Supreme |
20-Jan-2011 18:16
Yells: "The Greatest Wealth is Health" |
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LONDON, Jan 20 (Reuters) - Spot gold edged lower on Thursday, snapping a three-day rally as the euro rally paused, while Chinese data stoked concerns the country might ratchet up its easy-does-it approach to inflation. PRICES * Spot gold XAU= was bid at $1,363.96 at 0731 GMT from $1,370.05 late in New York on Wednesday. * Silver XAG= was at $28.41 from $28.76. * Platinum XPT= was at $1,818.20 from $1,830.99. * Palladium XPD= at $803.22 from $811.97. MARKET NEWS * Asian stocks retreated from two-month peaks due to disappointing earnings from Wall Street majors, while the euro softened after extending its rally overnight to a eight-week high. * The euro fell on profit taking, after having extended its rally to a two-month high above $1.35 overnight, bringing a key technical level in focus that could throw a speed-bump in its path. * U.S. crude was steady above $90 a barrel ahead of inventory data that is expected to show a decline in crude stocks for a seventh consecutive week, while worries about China stepping up efforts to fight inflation persisted. * European stock index futures pointed to a lower open, with stocks poised to extend the previous session's sell-off, as stronger-than-expected growth and inflation data from China fuelled tightening concerns. * The S&P 500 suffered its biggest decline in nearly two months on Wednesday as disappointing results from Goldman Sachs and Wells Fargo put a damper on the rally. FUNDAMENTALS * Holdings in the world's largest silver-backed exchange-traded fund, iShares Silver Trust (SLV), dropped to 10,575.32 tonnes by Jan 19 from 10,585.95 tonnes on Jan 18. * The world's largest gold-backed exchange-traded fund, SPDR Gold Trust (GLD), said its holdings fell to 1,251.433 tonnes by Jan 19, its lowest since May 2010, from 1,256.897 tonnes on Jan 18. * Sales of the U.S. Mint's American Eagle silver coins have already hit a monthly record in January as prices have declined enough to attract buyers seeking exposure in precious metals and those who expect industrial demand for silver to grow. * China finished 2010 with a bang, its growth soaring past expectations while inflation slowed just a touch, numbers that could prod the government to ratchet up its easy-does-it approach to tightening. TECHNICALS * Gold support at $1,350 an ounce, resistance at $1,400 an ounce and 14-day RSI at 43.1. * Platinum support at $1,787 an ounce, resistance at $1,852 and 14-day RSI at 68.4. * Silver support at $28 an ounce, resistance at $30 and 14-day RSI at 44.4. |
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bsiong
Supreme |
20-Jan-2011 18:12
Yells: "The Greatest Wealth is Health" |
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Closing Gold & Silver Market Report – 1/19/2011January 19, 2011At 4PM (CT) the APMEX precious metal prices were:
Precious metals are not moving much this afternoon after they took advances earlier in the day. Holding back gold prices a little might be the numbers from IAMGOLD that stated that they were over on their predictions for Q4 production in 2010 from 940,000 to 970,000 which has led IAMGOLD changing their forecast for Q1 2011 to be anywhere from 1.1 to 1.2 million ounces. This change in expected supply could affect the price of gold. We cannot forget about the U.S. debt news that has been kept a little quiet in lieu of all of the world news, Congress is being urged to raise the debt limit. There is talk in the U.S. Congress about raising the debt limit. Democrats argue that if we increase it, we could be facing worse financial crisis, while Republicans say that we could have bigger issues at hand if we don’t increase it. With the U.S. economy’s unclear future, the safe-haven appeal of gold as a hedge against inflation is growing. However, belief in gold as an insurance policy and protection as a hedge is still strong. Jim Cramer writes on RealMoney.com that he likes gold as a hedge and that “the amount of money that is being printed worldwide is outrageous and I can only conclude that you need something as a hedge to the printing press.” Gold spot price was up $1.30 – Silver spot was down 14 cents – Platinum spot price was up $9.20– Palladium price was up $5.40 |
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bsiong
Supreme |
19-Jan-2011 11:12
Yells: "The Greatest Wealth is Health" |
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Closing Gold & Silver Market Report – 1/18/2011January 18, 2011At 4PM (CT) the APMEX precious metal prices were:
COMMENTARY: Higher than expected inflation data from the UK pushed precious metal prices even further up today. In addition, the US Dollar slipped .46% while the Euro gained .55%. The debt crisis abroad and here at home continues to stay in the news. Neel Kashkari, a former Treasury official who headed up the 700 billion dollar “TARP”, said today that “our debt is starting to get away from us.”Kashkari, now a managing director at PIMCO, said in an interview that the difference in yields between 2 – and 30-year Treasuries have widened to an all time high. He further explained that confidence in US Treasuries could fall dramatically if the central bank continues to print money to buy bonds while at the same time we do nothing to tackle the US debt. Gold spot price was up $7.20 – Silver spot was up 56 cents – Platinum spot price was up $13.50 – Palladium price was up $21.40 |
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bsiong
Supreme |
19-Jan-2011 11:11
Yells: "The Greatest Wealth is Health" |
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Gold firm on physical demand, euro; platinum at 30-mth highSINGAPORE, Jan 19 (Reuters) - Spot gold prices firmed a touch on Wednesday, supported by steady physical demand in Asia and strength in the euro currency, while platinum hit a 30-month high on the improved economic outlook. FUNDAMENTALS * Spot gold rose by 0.4 percent to $1,372.6 an ounce by 0056 GMT. * U.S. gold futures gained 0.3 percent to $1,372. * Spot platinum rose to $1,832 an ounce, its highest since July 2008, before easing to $1,830.74. * Strong data from Germany sent the euro to a one-month high on Tuesday, and the single currency stood on a firm footing. The dollar index edged lower. * German investors are increasingly optimistic about the economy and half expect higher interest rates by July, a survey showed, highlighting the two-speed euro zone recovery and the dilemma it creates for the ECB. * Holdings in the SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, fell 2.428 tonnes to 1,256.897 tonnes by Jan 18. |
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bsiong
Supreme |
19-Jan-2011 00:52
Yells: "The Greatest Wealth is Health" |
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Morning Gold & Silver Market Report – 1/18/2011January 18, 2011At 8AM (CT) the APMEX precious metal prices were:
COMMENTARY: Precious metal prices are up sharply in early morning trading. Gold price is currently up $13 – Silver spot price is up 57 cents – Platinum price is up $10.80 – Palladium spot price is up $16.40 From time to time it is helpful to step back and recognize that gold is a currency recognized and traded worldwide. Today’s increase is being driven Asian buyers concerned about the European debt crisis.Bruce Ikemizu, head of commodity trading at Standard Bank Pls in Tokyo stated yesterday that he was pessimistic that problems will be resolved overnight and that the European financial problem will be a long term bullish factor for precious metals. Chinese President Hu Jintao arrives in Washington this week to continue efforts to improve relations between the US and China. President Hu’s has made it clear that China intends to move forward on opening its markets, but at its own pace. They will not be pressured by external concerns who wish this to happen quicker and more broadly. |
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bsiong
Supreme |
18-Jan-2011 19:20
Yells: "The Greatest Wealth is Health" |
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Gold gains as euro rally gathers pace
* Gold holds firm as dollar wilts * Silver prone to more losses * Coming up: U.S. NAHB housing market index; 1500 GMT By Amanda Cooper LONDON, Jan 18 (Reuters) - Gold rose for a second day on Tuesday, buoyed by a fall in the dollar and a stream of demand from key Asian consumers, along with a degree of uncertainty over a permanent resolution to Europe's debt crisis. Gold has fallen by more than 3 percent this month, under pressure from investors eager to cash in on the 30-percent price gain of 2010 and also from a waning need for safe-haven assets as data paints a picture of a more robust global economy. The dollar extended losses against the euro EUR= after a measure of German business confidence hit its highest since July, outstripping expectations. [FRX/] Spot gold XAU= rose 0.4 percent to $1,367.75 an ounce by 1035 GMT, while U.S. February gold futures GCG1 rose 0.5 percent to $1,367.80. In light of the stronger data and expectations for robust fourth-quarter U.S. earnings, gold could encounter more pressure and Societe Generale analyst David Wilson said ultimately monetary policy in the United States would be the deciding |
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