Stock Market News & Stocks to Watch from StraightStocks » precious metal

Trading Gold Exchange Funds

QualityStocks — Tue, 17 Nov 2009 16:33:39 +0000

Right off the bat, one must understand that chasing a trend is a rather dangerous thing to do. On the other hand, one must also understand that there may be more room to profit as a stock or commodity moves upward. This is a choice, made carefully, by any individual investor with advice from a [...]

Commodity inflation

James Hamilton — Sun, 15 Nov 2009 14:36:39 +0000

Why are the prices of so many commodities rising in an economy that seems to remain quite weak?

	% change
butter	35
coffee	21.8
cocoa	20.2
copper	89.1
corn	-8.3
cotton	38.6
gold	32.1
hogs	2.7
oats	13.4
oil	63.2
lead	81.9
palladium	75.9
platinum	61.7
silver	59.1
steel	-0.9
sugar	73.6
tin	22.5
wheat	-26.6
zinc	55.4
average	37.4
euro	12

The table at the right summarizes the percent change between January 6 and November 11 in the cash prices of 19 commodities reported in the Wall Street Journal (downloaded via Webstract). The average commodity in this list has appreciated 37% since the start of the year.

A recent paper by Ke Tang and Wei Xiong documents an increasing tendency for commodity prices to move together over the last few years. A decade ago, what happened to oil prices was largely unrelated to movements in most other commodity prices. The graphs below show how the correlations between oil prices and the prices of four representative commodities have increased significantly over time.

Correlation (using a rolling sample beginning one year before indicated date) between returns on oil and specified commodity. Source: Tang and Xiong (2009).

One explanation I often see in the popular press is that movements in commodity prices are driven by changes in the value of the dollar relative to other currencies. However, the magnitude of movements in commodity prices greatly exceeds the size of changes in the exchange rate. For example, the table above shows that since the start of this year oil prices have increased five times as much as the dollar price of a euro; see also Steve Gordon's graphs. While the depreciation of the dollar is part of the story, most of the explanation must be found elsewhere.

Another important factor is resurging real economic growth outside the United States, which produces pressures for both the dollar to depreciate and the real price of commodities to appreciate. According to this theory, the increasing correlations between commodity prices results from the fact that countries like China are so much more important for the world economy today than they were a decade ago.

A third explanation is that investors are making increasing use of commodities as an investment class. Although Treasury Inflation Protected Securities offer a hedge against an increase in the U.S. consumer price index, they don't offer protection for foreign investors against depreciation of the dollar. Insofar as increases in the prices of commodities like oil may depress real economic activity, holding commodities as an investment also offers useful diversification against risks to equities. Particularly when interest rates are low, there is an incentive to hoard physical commodities as an investment vehicle.

The paper by Tang and Xiong proposes that the increased use of commodities as a financial investment accounts for the increasing correlation among commodity price changes over time. In support of that claim, they note the growing popularity of investment strategies based on the Goldman Sachs Commodity Index or the Dow Jones Commodity Index. Tang and Xiong document that correlations among commodities included in the indexes have increased faster than those not included. For example, one of the regressions they estimate relates the return on commodity i to equity returns, bond yields, the value of the dollar, and oil prices, where the coefficients are allowed to grow with time at different rates before and after 2004, and with different trends on these coefficients estimated for commodities included in indexes as for those excluded. The figure below shows their estimated time path for the coefficient on oil prices comparing the indexed and non-indexed groups.

Coefficient relating return on average commodity to return on oil as a function of time for commodities included in the GS or DJ indexes (top curve) and those excluded (bottom curve). Source: Tang and Xiong (2009).

For any of the explanations in this third class, one of the important challenges is to reconcile the story of commodity speculation with supply and demand for the underlying physical commodity. If we propose that speculators have driven the price of the commodity up, the physical quantity demanded should decline as a result. In order to be sustained, a coherent speculation-based theory of commodity price appreciation requires increased physical storage of the commodity.

The solid black curve in the figure below plots the typical U.S. crude oil stocks (excluding those held in the Strategic Petroleum Reserve) for each week of the year, based on the average over 1990-2007. The red line gives the actual values for 2008, which were significantly below the historical average, particularly in the spring of 2008 when oil prices were rising so dramatically. Those below-normal inventories were one reason I focused on what was going on to the fundamentals of supply and demand in trying to understand the behavior of oil markets in the first half of 2008.

Weekly U.S. crude oil ending stocks, excluding SPR, in thousands of barrels, from EIA. Black line: average over 1990-2007. Red: 2008. Green: 2009.

On the other hand, inventories of crude oil this year, shown in green above, have been substantially above normal, meaning that in the absence of that oil going into storage, we would have expected to see lower oil prices than we currently have.

Moreover, much of the current stockpiling may be taking place outside the United States. For example, Yves Smith noted this story from Bloomberg last August:

Copper, nickel and other base metals stockpiled by speculative Chinese investors including pig farmers may be sold when "market sentiment turns," said Scotia Capital Inc.

A price surge and easy bank credit this year encouraged pig farmers, stock brokers and businessmen to buy copper and nickel for speculation, Liu Na, an analyst with Scotia Capital, wrote in a note dated Aug. 17, citing reports from the state-owned China Central Television....

"These stockpiles are in 'weak hands' as speculators have no real use for base metals," Liu wrote. "When the market sentiment turns, they are very likely to turn into quick sellers, especially when the bank's money is involved."

I also found this November 3 story from the Financial Times of interest:

Gold prices continued to rise on Wednesday extending the all-time highs which followed India's central bank bought 200 tonnes of the precious metal, swapping dollars for bullion as the country's finance minister warned the economies of the US and Europe had "collapsed".
India's decision to exchange $6.7bn for gold equivalent to 8 per cent of world annual mine production sent the strongest signal yet that Asian countries were moving away from the US currency.

Policy-makers in the Federal Reserve have traditionally thought of inflation as a broad movement in all wages and prices, which to some extent is under their control, and viewed changes in relative commodity prices as outside their control. I believe that this is not the correct understanding of the current situation. Concerns about inflation, particularly on the part of foreign dollar-holders, are likely to show up first in the relative prices of internationally traded commodities. Insofar as these relative price changes can be destabilizing in themselves, it cannot be wise for U.S. policy-makers to ignore them.

If Stocks Tank, Shouldn’t Gold Soar?

Jim Musselwhite — Sat, 14 Nov 2009 03:07:36 +0000

November 13, 2009 The following article is provided courtesy of Elliott Wave International (EWI). For more insights that challenge conventional financial wisdom, download EWI’s free 118-page Independent Investor eBook. ————- Large banks and more recently pension funds have suddenly become infatuated with gold. They chant the mantras that gold bugs have [...]

Richard Russell: Six reasons to invest in gold

Prieur du Plessis — Fri, 13 Nov 2009 07:38:54 +0000

This post features excerpts from Richard Russell's latest Dow Theory Letters, arguing the case for gold bullion.

Gold bullion makes it eight in a row – what next?

Prieur du Plessis — Thu, 12 Nov 2009 07:45:53 +0000

Gold hit a new peak after a drop in the US dollar to a 15-month trough, resulting in the precious metal recording an eight-day winning streak. What happens next?

Top Precious Metal Equity Funds – Mutual Fund Commentary

Zacks Market Commentaries — Wed, 11 Nov 2009 06:28:47 +0000

Today we are featuring top-performing “Precious Metals" equity mutual funds, which primarily invest in equity securities companies that are involved in mining of gold and other precious metals. Investors can find such funds by checking out the entire list of the Zacks #1 Rank Precious Metals Equity Funds.

3 Precious Picks

Van Eck International Investors Gold A (INIVX) seeks long-term capital appreciation by investing in common stocks of gold mining companies. The fund was incepted in January 1956.

The fund normally invests at least 80% of total assets in the gold mining industry, with at least 25% of assets invested in gold mining stocks. The fund may invest up to 100% of its assets, or, for temporary defensive purposes, less than 25% of its assets in gold stocks. Randgold Resources Limited, Goldcorp Incorporated and Agnico-Eagle Mines Limited are among its major holdings.

The fund declares and pays dividends in March, June, September and December. Capital gains, if any, are distributed in annually in December. It has an expense ratio of 1.44%.

Joseph M. Foster has been lead manager of the fund since July 1998. Foster has been with Van Eck Associates Corporation since 1996.

RiverSource Precious Metal & Mining A (INPMX) was incepted in April 1985. The investment seeks long-term growth of capital.

The fund primarily invests in securities of companies engaged in exploration, mining, processing or distribution of gold and other precious metals and related minerals. It invests at least 80% of assets in securities of companies in the precious metal industry. At least 50% of its total assets are invested in foreign securities. The fund may also invest up to 10% of its total assets in gold, diamonds, silver bullion, other precious metals and minerals.

The fund has an expense ratio of 1.52%. As of June 2009, its portfolio turnover was 340%. The fund distributes dividends and capital gains, if any, annually.

Clay L. Hoes has been lead manager of the fund since June 1999. Prior to joining RiverSource Investments, in1999, Hoes was a vice president and portfolio manager with Scudder Kemper Investments.

Fidelity Select Gold Portfolio (FSAGX) seeks capital appreciation. It was incepted in December 1985.

The fund invests at least 80% of its assets in common stocks of companies principally engaged in gold-related activities, and in gold bullion or coins. The management also invests in other precious metals, instruments whose value is linked to the price of precious metals and securities of companies that manufacture and distribute precious metal and minerals products.

Shareholders have to make a minimum initial investment of $2,500 to enter this Zacks#1 Rank (“Strong Buy") fund. It has an expense ratio of 0.89%.

S. Joseph Wickwire has been lead manager of the fund since August 2007. Wickwire is a Chartered Financial Analyst and joined Fidelity Investments in 2007.

Discover Many More Funds

Learn more about the new Zacks Mutual Fund Rank and discover some of the best market-beating mutual funds by browsing our new mutual funds section. This part of Zacks.com offers a variety of tools, including mutual fund research, a new mutual fund screener, helpful answers to frequently asked questions and quick access to prospectuses and other information. By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward.

Zacks Investment Research

Zacks Industry Rank Analysis Highlights: Barrick Gold, Eldorado, Goldcorp, Freeport-McMoRan, Pan American Silver, Market Vectors Gold Miners, S&P 500 SPDR and Gold SPDR – Press Releases

Charles Rotblut — Thu, 22 Oct 2009 18:00:25 +0000

For Immediate Release

Chicago, IL – October 22, 2009 – Zacks.com releases the latest Zacks Industry Rank. Stocks featured in this week’s analysis include Barrick Gold (ABX), Eldorado (EGO), Goldcorp (GG), Freeport-McMoRan (FCX), Pan American Silver (PAAS), Market Vectors Gold Miners (GDX), S&P 500 SPDR (SPY) and Gold SPDR (GLD).

Zacks Industry Rank Analysis is written by Charles Rotblut, CFA, Senior Market Analyst for Zacks.com.

This week: Gold Miners’ Margin Problem

As gold sets new highs, it would only be natural to assume that profit forecasts for gold mining companies would be soaring too. Surprisingly, profit forecasts are not jumping.

Though some brokerage analysts have raised their full-year projections in recent weeks, the Zacks Consensus Estimate is not moving higher for most gold miners. Rather, it is essentially unchanged for Barrick Gold (ABX), Eldorado (EGO), Goldcorp (GG) and most of their peers.

Where are we seeing increases are for companies that are significantly dependant on other metals, such as copper or silver. For example, the 2009 Zacks Consensus Estimate for Freeport-McMoRan (FCX) has risen 67 cents over the past 30 days to $3.79 per share. (Yesterday, FCX reported third-quarter profits of $2.07 per share, topping forecasts for $1.14 per share). Analysts had Pan American Silver (PAAS) is also seeing expectations rise with the Zacks Consensus now at 75 cents per share, versus 70 cents a month ago.

Ore Quality Is An Issue

A big reason why the gold miners are not shining as brightly as the precious metal is the quality of the ore being mined. There is a general school of thought that the miners are digging up ore that is more difficult to process. As result, this is adversely impacting costs.

When miners dig up gold, they are effectively taking rock out of the ground. Though the goal would be to just dig up gold, the actual rocks contain various other metals and minerals. This means the mining company has to separate the gold from the other metals. Ore is considered to be higher quality when there is a greater concentration of gold in the rocks. Conversely, ore is considered to be of lower quality if the rock contains less gold.

Obviously, it is in every miner's best interest to dig up higher quality ore. However, as more and more gold is dug up, the quality of the ore decreases, hurting margins. It is this concern that has many analysts unwilling to raise their profit forecasts.

Investors should note that this is not dissimilar to what is occurring with oil. Many of the newly discovered oil fields are in areas where it is expensive to drill in. An example is Brazil's Tupi field, which lies several miles below sea level.

Not The First Time Analysts Have Been Cautious

What's interesting about the lack of estimate revisions is that this is not the first time it has happened. Back in February, when gold broke above $1,000 for the first time this year, I pointed out that brokerage analysts were not raising their forecasts. (Read Why Gold Miners Are Not Glittering.) Rather, analysts were cutting forecasts at that time.

Since then, gold mining stocks have rallied with Market Vectors Gold Miners (GDX) gaining about 43%. However, had you invested in a fund that tracked the S&P 500 instead, you would have realized an approximate 42% return. In other words, you could have gotten a similar return with considerably more diversification by buying S&P 500 SPDR (SPY) instead of GDX. (An investment in gold, via Gold SPDR (GLD) would have only earned you an 11.2% return over the same period of time.)

As you can see, while gold has been rallying, it has not given investors the best opportunities to profit. The mixed earnings estimate picture for gold miners suggests that the risks of investing in these companies remains elevated. Though gold mining stocks could still go higher, especially if third-quarter margins are better than expected, there are industries whose short-term prospects are brighter.

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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

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Zacks Investment Research

Stock Market News for October 7, 2009 – Market News

Zacks Market Commentaries — Wed, 07 Oct 2009 14:04:52 +0000

The Dow Jones industrial average moved up 132 points on Tuesday and all major indicators rose more than 1% as the Australian central bank’s decision to raise interest rates boosted optimism about the world economy.

Investors' show of confidence ahead of a flood of corporate earnings reports came as Australia became the first major country to raise interest rates since the onset of the financial crisis last year. The move signals that policymakers see that country's economy as strong enough to withstand higher borrowing costs. That touched off hopes that other economies might also be growing.

Australia's decision dented demand for the U.S. dollar, which, in turn, raised commodities prices. US energy and materials stocks moved up, oil also rose, and gold reached a record high. Stock investors cheered the drop in the dollar because it boosts corporate profits by making U.S. goods cheaper for overseas buyers. Companies can also get a bump in profits when they convert sales made in foreign currencies to dollar terms. The dollar has been falling for months so that added to expectations for positive corporate profit reports.

Five stocks rose for each that fell on the NYSE. Producers of energy and raw materials had the two biggest advances in the S&P among 10 industries, rising about 2.1% and 1.9% respectively.

Financial sector shares (up 1.1%) received another boon, over and above Goldman's (NYSE:GS) upgrade of large-cap banks on Monday, as Bank of America/Merrill (NYSE:BAC) upgraded European banks to "overweight". Gains in the financial sector included a 2.5% increase in JP Morgan (NYSE:JPM), 3.2% in Morgan Stanley (NYSE:MS) and 2% in Wells Fargo (NYSE:WFC).

Deal activity has also picked up steam, lifting confidence in financial markets. Banco Santander (NYSE:STD) raised over $8 billion in an IPO of its Brazilian subsidiary. ExxonMobil (NYSE:XOM) announced its has agreed to pay $4 billion for Kosmos Energy's 23.49% stake in the Jubilee oil field off the coast of Ghana. Societe Generale said it intends to raise $7.1 billion in new shares to repay the French government, buy the 20% of Credit Nord it doesn't currently own, and improve its Tier 1 ratio.

Gold futures advanced as high as $1,045 an ounce in New York, topping the 18 month record of $1,033.90, on speculation that anticipated accelerating inflation will spur demand for the precious metal as a store of value.

The U.S. dollar index was off 0.31 at 76.33 in late trading, but up from its 76.22 session low after the Saudi Arabian central bank chief denied an Independent newspaper report that the Saudis and other Arab producers planned to price oil on a basket of currencies, instead of the dollar.

Observers believe that the decline of just over 4% on the S&P 500 prior to this week’s stellar stock movement seemed to give investors the entry point they were looking for to build positions on stocks. "I think that most people believe that stocks are going to generally keep drifting higher for the next few months," said Gary Webb, CEO at Webb Financial Group. "So while nothing fundamental has changed this week, investors are taking opportunities to buy on the lows."

Nobel Prize winning economist Joseph Stiglitz added that US unemployment will keep rising and should be the focus for policy makers. Gains in the stock market show that investors have been “irrationally exuberant" about a recovery.

New York Fed President William Dudley said a tepid economic recovery should allow the Fed to keep interest rates at rock-bottom lows for a prolonged period. Because the U.S. economy faces many headwinds, including an anemic labor market and a fragile banking system, Dudley said, inflation will not become a problem in the foreseeable future. "The recovery will turn out to be moderate by historical standards," Dudley said in a speech at Fordham Law School. He added that "the banking system has still not fully recovered."

Earnings are due today from Costco (NASDAQ:COST), Family Dollar (NYSE:FDO) and Alcoa (NYSE:AA).

Zacks Investment Research

A Gold Rally with Legs?A Gold Rally with Legs?

Frank Holmes — Tue, 06 Oct 2009 05:00:00 +0000

News that oil-producing countries are in talks with oil-consuming countries to denominate future transactions in a basket of currencies rather than in dollars sent the U.S. dollar to new lows and gold to new non-inflation adjusted highs of $1,045 before settling around $1,039. Portfolio manager Brian Hicks spoke with Stacey Delo from Marketwatch about whatrsquo;s behind goldrsquo;s big move upward today and whether todayrsquo;s move is just the beginning of a long-term trend for the precious metal. Hicks believes the trend has legs and has even moved his price target higher. My original target was $1,100 by year-end, and I think where the dollar is now and the potential for it to go lower between now and the year end, I think I have to move that target up a bit to $1,150, maybe $1,200 by year-endhellip; Wersquo;ve tested $1,000 an ounce on several occasions over the last 18 months and now wersquo;ve finally broken through. I think that it implies that we could see higher moves from here. All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. #09-704

A Gold Rally with Legs?

Frank Holmes — Tue, 06 Oct 2009 05:00:00 +0000

Prieur’s readings (October 5, 2009)

Prieur du Plessis — Mon, 05 Oct 2009 05:40:32 +0000

This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy. Please also add the links to any other worthwhile articles you would like to share to the comments section.

Gold Steadies as Euro Trims Losses vs Dollar

Contrarian Profits — Mon, 28 Sep 2009 16:00:26 +0000

pGold was steady on Monday after briefly falling below $990 an ounce, as the euro trimmed some losses versus the dollar, but bullion looked vulnerable to a long liquidation after it failed to stay above $1,000 an ounce./p pPhysical demand was also supportive for the precious metal, traders said, who saw the jewellery demand picking as as the festive period in India, one of the top gold consumers of the world, approches./p pSpot gold was at $991 an ounce by 1121 GMT, slightly up from $990.95 an ounce late in New York on Friday, when gold hit a two-week low of $984.70 an ounce./p p#8220;The stronger dollar is the reason which pushed gold below the $1,000 an ounce level,#8221; said Eugen Weinberg, Commerzbank analyst#8230;/p

How China became the ‘800-Pound’ Gorilla in the Gold Market

Don Miller — Wed, 23 Sep 2009 14:24:46 +0000

pWith prices testing their record high of $1,033 an ounce set last year gold has again become the hot topic of conversation./p pBut while many analysts are focusing on threat of inflation – which could be a byproduct of the U.S. Federal Reserve’s reluctance to withdraw monetary stimulus – investors should really be watching China./p p“In the post-financial crisis global economy, China is quickly becoming the proverbial ‘800-pound gorilla’ – the player that has to be courted, but that can’t be tamed,” said strongema href="http://www.moneymorning.com" class="alinks_links"Money Morning/a/em/strong Contributing Editor Peter Krauth./p pIn a recent article for strongemMoney Morning/em/strongem, /emKrauth said that he believes the stage has been set for gold to make a lasting run above $1,000 an ounce, in no small part because of China./p pFor#8230;/p

The 4 Reasons to Skip Today’s Gold Rush

Contrarian Profits — Fri, 11 Sep 2009 20:22:59 +0000

pIn the spirit of not suffering from confirmation bias, in today’s emstrongNotes/strong/emstrong /strongwe will try to make the bearish case emagainst/em gold. So before you storm emstrongNotes/strong/em HQ in Buenos Aires craving blood, hear us out. Many of our staff here love gold and have long term holdings. /p pThis issue is entirely in the contrarian spirit of playing devil’s advocate. So put your pitchforks down. Take a deep breath. There is plenty of space to poke holes in (or rant) about our thesis by writing to a href="mailto:info@contrarianprofits.com" target="_blank"info@contrarianprofits.com/a/p pSo here it goes. The four reasons you shouldn’t buy gold today…/p pReason 1: Did you know that the seventh largest holder of gold in the world is not a country, but an exchange traded fund? Yes, gold ETF SPDR Gold Shares#8230;/p

Gold Rallies to 18-month High as Dollar Slides

Contrarian Profits — Fri, 11 Sep 2009 19:45:56 +0000

pGold prices extended gains above $1,010 an ounce in Europe on Friday as the dollar index#8217;s #60;.DXY#62; tumble to one-year lows fuelled interest in the precious metal as an alternative asset./p pIts gains lifted prices of other precious metals, with silver and platinum both rallying to multi-month highs in its wake./p pSpot gold rose to a high of $1,011.55 an ounce, its firmest since February 2008, and was bid at $1,009.50 an ounce at 1437 GMT against $995.50 late in New York on Thursday./p pCitigroup analyst David Thurtell said the dollar was providing most support to gold. #8220;The dollar seems like it could be heading for $1.50 against the euro. There are bound to be people seeking currency hedges, and gold#8217;s a good one,#8221;#8230;/p

Russia’s Maneuvering Boosts the Commodities Market

Andrew Snyder — Fri, 04 Sep 2009 22:00:49 +0000

pThe commodity markets are surging today. Are the bulls charging because of investor fear or is something else going on? Here’s the answer. /p pThere is a buzz in the commodities markets this week. Just about anything that can be pulled from the ground is surging in value. Everything, that is, but natural gas./p pMost notably, gold is just about ready to reach over the critical $1,000 level, proving that investors are looking for safety. Even without a hint of inflation, the precious metal has surged by over 5% so far this week./p pThe quick run means the world’s gold miners are surging in value. The more leverage packed into their balance sheets, the higher their prices are going to go./p pSo far, strongYumana#8230;/strong/p

What’s Next for Gold Prices?

Andrew Snyder — Thu, 03 Sep 2009 17:06:43 +0000

pAs the equities market gyrates, gold bugs are getting their vindication. Better late then never, I suppose. /p pIt is pretty clear where the folks selling their share of the equities market yesterday put their cash. As investors look for a safe haven, the gold market is booming today./p pGold prices settled today at $978.50 per ounce, an increase of $22.20 from yesterday’s final figure. The action is a surefire sign that investors are getting nervous./p pIt was almost a year ago when the precious metal entered one of its most volatile periods. Over the span of several months, gold prices ran from $800 to $900, back down to $700 and then the whole back to the $1,000 mark and beyond./p pAs more and#8230;/p

Gold Ends Lower as Risk-averse Investors Sell

Contrarian Profits — Mon, 31 Aug 2009 21:30:07 +0000

pGold futures trimmed losses but still ended lower on Monday, as risk-averse investor sentiment and a tumbling Chinese equities market prompted selling in bullion and other commodities./p pThe positive link between gold and equities market has been on the rise, as the metal is used as a hedge against inflation and erosion of portfolio values./p p#8220;The markets today are focusing on China and the sharp break of the Shanghai equities index,#8221; said Bill O#8217;Neill, managing partner of New Jersey-based LOGIC Advisors./p p#8220;In recent weeks, we noted the weakness in the equities, of course, has had a positive relationship with commodities, and that continued to be a factor,#8221; he said./p pGlobal stocks fell on Monday, dragged by a six percent tumble in China, which sent#8230;/p

China Is Through Screwing Around

Graham Summers — Fri, 07 Aug 2009 12:22:01 +0000

Starting with the re-opening of formal trade arrangements in 1971, China has undergone a near unprecedented level of economic transformations. The country’s per-capita income doubled from 1978 to 1987 and again from 1987 to 1996. In those 20 years, more than 300 million Chinese ascended out of poverty with accompanying dramatic changes in lifestyle, professions, and [...]

Gold Will Perform Well No Matter What Happens

Graham Summers — Thu, 06 Aug 2009 11:49:30 +0000

Graham’s note: today we’re featuring commentary from Ron Coby, Chief Investment Officer at Coby Lamson Capital Management in Medford, Oregon. Ron’s one of the smartest traders I know and it shows in his firm’s track record: up 16% year to date. The following is an except from his book, The Upside of Down which you [...]

Why Gold Could Clear $1,300 by Year-End

Graham Summers — Mon, 03 Aug 2009 09:19:59 +0000

Gold may be nearing its next major leg up. No investment ever goes straight up or straight down. During the last bull market in gold, the precious metal rose 2,329% from a low of $35 in 1970 to a high of $850 in 1980. However, during that time, there was a period of 18 months in [...]

The Three Triggers of the Global Gold Bubble

Contrarian Profits — Wed, 29 Jul 2009 00:47:45 +0000

div class="entry" pAs you review your investment portfolio to size up your current exposure to gold, keep one key point in mind: When it comes to profits, there’s no rush like a speculative gold rush./p pAnd that’s just what we have at hand./p pInflationary fears are on the march the world over. And most of those worries are due to the trillions of dollars in stimulus spending the world’s central bankers have engineered. Those worries about the pressure from rising prices a href="http://www.moneymorning.com/2009/07/09/investing-in-commodities/"are destined to cause the next big asset bubble/a./p pAnd the color of this particular bubble will be gold./p pThe irony here is that even though central bankers are the cause of a href="http://www.moneymorning.com/2009/07/16/gold-prices-5/"this looming bubble in gold prices/a, a higher gold price isn’t their objective./p pThey apparently believe#8230;/p/div

Blah Day for Gold

Contrarian Profits — Wed, 15 Jul 2009 18:30:06 +0000

pGold developed a slight upward trend late in Hong Kong and rode that trend mostly sideways through the end of the day to a marginal gain. The yellow metal closed at $925.30/oz., up $4.50. Overnight, gold is up sharply. /p pPlatinum’s graph looked quite similar to gold yesterday, as the precious metal developed what looked like the gentlest of trends in the black but managed to tack on quite a bit before all was said and done, ending the day at $1129/oz., up $16. Overnight, platinum is way up./p pSilver rounded out what ended up being a solid but uneventful day for the precious metals by showing the same slight trend as gold and platinum, ending at $12.87/oz., up 4 cents. Overnight, silver#8230;/p

Still Some Life Left to Gold and Silver

Doug Casey — Mon, 13 Jul 2009 18:00:45 +0000

pFor the week ending 10 July 2009, it seems to have been almost all down hill since I last posted my commentary two weeks ago. Gold and silver bullion as well as stocks have broken on the down side but there is still some life left. Let’s get at today’s assessment./p pstrongGOLD/strong/p pstrongLONG TERM/strong/p p/p pBefore getting into the weekly commentary, some comments on the head and shoulder pattern. I have had several readers who have pointed out reverse head and shoulder patterns in gold, one a long term and one of an intermediate term basis. I believe there have been some experts that have shown the same pattern recently. I had shown a long term gold chart in my commentary for the week#8230;/p

Gold Firms as Weak Dollar Prompts Buying

Contrarian Profits — Thu, 09 Jul 2009 16:45:17 +0000

pGold firmed today, Thursday, as weakness in the dollar prompted interest in the precious metal as a currency hedge, with some physical demand after the previous session#8217;s fall also supported prices./p pSpot gold was bid at $912.50 an ounce at 1417 GMT, against $908.45 an ounce late in New York on Wednesday. U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange rose $3.50 to $912.80 an ounce./p pGold sold off on Wednesday in line with other commodities, slipping to an eight-week low, after the U.S. Commodity Futures Trading Commission said it was considering a clampdown on excessive speculation in commodities./p pAfshin Nabavi, head of trading at MKS Finance in Geneva, said the slip was met with some light#8230;/p

Gold Slips, Platinum Dips as Dollar Firms

Contrarian Profits — Wed, 08 Jul 2009 17:30:00 +0000

pGold fell in Europe on Wednesday and platinum dropped below $1,100 an ounce for the first time since May 18 as the dollar firmed against the euro, making precious metals more expensive for holders of other currencies./p pHard commodities weakened across the board, hit by global economic concerns and worries a potential clampdown on speculation in U.S. energy and commodity trading could hurt buying of the asset class./p pSpot gold slipped to a low of $915.20 an ounce and was bid at $918.00 an ounce at 1414 GMT, against $923.30 an ounce late in New York on Tuesday. Meanwhile platinum was at $1,109 an ounce from $1,132, having touched a low of $1,099./p pThe dollar climbed broadly as growing risk aversion prompted buying of the#8230;/p

Gold Steadies as Dollar Recovers, G8 Eyed

Contrarian Profits — Tue, 07 Jul 2009 21:30:43 +0000

pGold steadied today, Tuesday, erasing earlier gains, as the dollar recovered lost ground against a basket of currencies, reducing the precious metal#8217;s appeal as an alternative asset./p pTraders are awaiting fresh direction from the foreign exchange markets after a meeting of G8 leaders later this week./p pSpot gold was bid at $922.65 an ounce at 1544 GMT, against $924.00 an ounce late in New York on Monday, having earlier touched a high of $931.55./p pU.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange eased $1.20 to $923.10 an ounce./p pWith physical demand sluggish despite a price dip, the gold market is largely being driven by currency moves, traders said./p pThe precious metal edged lower on Tuesday as the dollar recovered#8230;/p

And Then There’s This…Tuesday, July 7, 2009

Contrarian Profits — Tue, 07 Jul 2009 19:30:58 +0000

pFrom the first paragraph of my Saturday commentary#8230;#8221;I don#8217;t know what it is about that [one hour and change] stretch of time between the Sydney close and the London open#8230;but if there is going to be a down day#8230;it starts right there a large percentage of the time.#8221; Any questions? Actually, both gold and silver got sold off the moment that the New York bullion banks opened for business 6:00 p.m. on Sunday night#8230;which is very early Monday morning in Far East trading. Shortly before 3:00 p.m. in Hong Kong, gold had almost made it back to unchanged#8230;and silver was actually up a couple of cents when the hammer fell. The bottom for gold came very shortly after the London#8230;/p

Wall Street Slips Amid Recovery Worries

Contrarian Profits — Tue, 07 Jul 2009 17:30:14 +0000

pGlobal stocks slid anew on Tuesday as an uptick in German manufacturing orders failed to offset persistent concerns about economic prospects, worries that pushed crude oil down prices to below $63 a barrel./p pCaution was the order of the day, with the dollar rising against the euro in a seesaw session in which risk tolerance rose and then fell as investors weighed the outlook for growth and corporate earnings./p pData showed orders in Germany, Europe#8217;s largest economy, rose at the strongest monthly pace in nearly two years in May. But economists said the yearly comparison would remain weak for some time./p pEuro zone government bond prices fell and the Bund future retreated from seven-week peaks as heavy European supply of almost 14 billion#8230;/p

Use This Reliable Ratio To Time Your Gold And Silver Purchases

Contrarian Profits — Mon, 06 Jul 2009 20:15:30 +0000

pSince the Obama administration took office in January, we’ve seen hundreds of billions pumped into the economy and the U.S. budget deficit now forecast to top the one trillion-dollar mark in the coming years. Many believe it’s only a matter of time before we also see much higher inflation - perhaps even hyper-inflation./p pThat prospect has kept the gold bugs banging the drum to buy the metal, with the television and radio cluttered with ads that tout the benefit of doing so./p pLast week, Lou Basenese noted the numerous reasons why the a href="http://www.smartprofitsreport.com/spr/gold-prediction.html"price of gold/a should be moving higher - but countered with the reasons why the price has continued to languish around $935./p pToday, I’m going to look at another important factor that drives gold#8230;/p

Gold Falls Under $925 as Dollar Gains Broadly

Contrarian Profits — Tue, 30 Jun 2009 17:30:24 +0000

pGold fell to a one-week low on Tuesday, dropping sharply as the dollar strengthened broadly and crude oil prices tumbled, reducing the metal#8217;s appeal as an inflation hedge./p pSpot gold was bid at $925.20 by 1520 GMT after hitting an intra-day low of $922.60, the lowest since June 24. Earlier it hit a high of $944.70./p pThe precious metal reversed earlier gains when the dollar, which has been under pressure, gained against a basket of currencies after U.S. consumer confidence data./p p#8220;Obviously, in these days where everything is linked together, from crude prices to the price of gold, any change to people#8217;s view of the economy and inflation expectations will cause a reaction,#8221; said Ole Hansen, an analyst at Standard Bank./p pAdding to the bearish#8230;/p

Gold Holds Gains Near $940 as Dollar Slips

Contrarian Profits — Mon, 29 Jun 2009 13:00:40 +0000

pGold rose above $942 per ounce on Monday, strengthening as the dollar turned lower against six major currencies with slight caution toward riskier assets also proving supportive./p pGold was at $941.75 per ounce at 1256 GMT, up from $938.05 quoted late in New York on Friday. The precious metal earlier hit an intra-day high at $942.50 but is some way off a two week high of $948.20 hit last Friday./p pA cautious approach to risk kept global stock market gains in check, while crude held under $70 per barrel following a bearish report on demand from the IEA, sapping gold#8217;s appeal as a hedge against oil-induced inflation./p pAnalysts said the precious metal was holding onto gains but lacking upward momentum as currency markets would be#8230;/p

Video-o-rama: Regulatory reform dominates debate

Prieur du Plessis — Fri, 19 Jun 2009 09:44:37 +0000

The financial debate during the past few days was dominated by President Obama's sweeping revamp of financial market supervision, and this issue also occupies a number of slots in today's Video-o-rama. But the video clips are not all about regulation, as pundits are also trying to figure out whether there are in fact economic "green shoots" and what the implications for financial markets might be.

Will the long-term support line stop the hemorrhaging in the gold market?

Jim Musselwhite — Tue, 16 Jun 2009 15:13:46 +0000

In my new short video I will show you some of the key elements and levels that I think should come in and support the gold market. The video is quite short, but it will lead you step by step into the detailed analysis of this not so precious metal. The video is free to watch [...]

What’s up or down with gold?

Trading School — Tue, 16 Jun 2009 11:20:18 +0000

Will the long-term support line stop the hemorrhaging in the gold market? In my new short video I will show you some of the key elements and levels that I think should come in and support the gold market. The video is quite short, but it will lead you step by step into the detailed analysis [...]

You Can Make Over 100% with Silver Call Options

Contrarian Profits — Thu, 11 Jun 2009 20:05:53 +0000

pSilver is a great investment right now and prices could easily shoot above $20 per ounce by the end of this year. I predict that with the right call options on silver you can make over 100% before the end of the year.br / In just a moment I’ll give you all the information you need to take action on an options pick on silver with explosive profit potential. But first, I want to explain why silver will blast higher./p pSilver is a precious metal therefore it does great when people get worried about the stock market, inflation and geopolitical risk./p pSilver is a hard asset that holds its value in inflationary times and maintains its purchasing power. We could see a steep rise#8230;/p

Next Stop for Silver: $20 Per Ounce

Contrarian Profits — Thu, 04 Jun 2009 20:42:34 +0000

pMark my words: Silver is going over $20 per ounce! Currently, silver is trading around $15 per ounce, up 40% already in 2009./p pI first recommended that a href="http://www.investorsdailyedge.com" class="alinks_links"Investor’s Daily Edge/a readers buy the silver ETF (a href="http://www.google.com/finance?q=SLV"SLV/a) on a href="http://www.investorsdailyedge.com/investinsilver.html"February 5th/a . I hope you followed my suggestion. SLV is up over 23% since then./p pIt’s not too late for you to get in. The white metal and its tracking shares are still a great buy./p pSilver is a precious metal so it does great when people get worried about the market, inflation and geopolitical risk. Monetary inflation is already here. It is only a matter of time before price and asset inflation arrive as well. Silver is a hard asset that holds it value in inflationary#8230;/p

Zacks Industry Rank Analysis Highlights: Monsanto, Potash of Saskatchewan, AK Steel, Freeport McMoRan and Weatherford. – Press Releases

Charles Rotblut — Thu, 04 Jun 2009 13:21:34 +0000

For Immediate Release

Chicago, IL - June 4, 2009 - Zacks.com releases the latest Zacks Industry Rank. Stocks featured in this week's analysis include Monsanto (MON), Potash of Saskatchewan (POT), AK Steel (AKS), Freeport McMoRan (FCX) and Weatherford (WFT).

Zacks Industry Rank Analysis is written by Charles Rotblut, CFA, Senior Market Analyst for Zacks.com.

This Week: Commodities Rally; Profit Forecasts Don't

Commodity prices have been soaring. Oil, gold, copper, wheat and corn all recently hit multi-month highs. Even the Duke Brothers are making a mint on orange juice futures.

A steady stream of economic data showing a slower pace of deterioration in the U.S. has been the primary driver behind the recent surge. Also playing a role is the combination of a higher tolerance for risk, weekly fluctuations in inventories, the spring planting season, the dollar and sustained growth in China.

What's interesting about the rally is that it has yet to translate into higher earnings estimates for commodity-related companies.

Agriculture Companies

Wheat and corn futures recently set 8-month highs. Other agricultural-related futures have also soared, such as coffee. Profit forecasts for agricultural companies, however, have been trending lower.

There are 2 reasons for the disconnect.

The first is the credit crisis. Though the Treasury Department has deemed some banks too big to fail, many smaller banks have been seized. This has created big problems for some rural communities that depend on just 1 or 2 banks. Furthermore, tighter credit conditions have made it harder for farmers to get the financing they need for planting season.

The second is the weather. Cool and wet weather systems delayed the planting of crops such as corn and soybeans. Monsanto (MON) recently blamed the weather for hurting herbicide sales and causing it to lower full-year guidance. Obviously, the late planting season also has implications for fertilizer companies.

One glimmer of light, however, is Potash of Saskatchewan (POT). Two analysts recently raised their full-year forecasts. The changes were not enough to move the consensus earnings estimate, but they were a step in the right direction.

MON is a Zacks #4 Rank ("sell") stock and is classified in Agricultural Operations. POT is a Zacks #3 Rank ("hold") stocks and is classified in Fertilizers.

Metal Stocks

Since January, gold has consistently stayed above $860 per ounce. After pulling back in April, the precious metal is once again nearing the $1,000 mark.

Gold mining stocks have also rallied lately, though profit forecasts remain unchanged. In fact, the number of positive and negative revisions is about even for Mining-Gold. This was essentially the same scenario we saw in February.

The lack of changes reflect a combination of uncertainty about where gold prices are headed, the impact of other metals on mining company profits (e.g. zinc) and lower production levels.

For other metals, the economy is the big issue. The worldwide recession has led to lower demand. Though optimism about a forthcoming recovery has helped send copper prices and other metals higher, the rise has not translated into better profit forecasts. Rather, the consensus estimates for AK Steel (AKS) and other metal producers are holding steady or declining.

One notable exception is Freeport McMoRan (FCX). Within the past month, positive revisions have pushed the full-year consensus earnings estimate 2 cents higher to $1.02 per share.

AKS and FCX are Zacks #3 Rank stocks. AKS is classified in Steel-Producers. FCX is classified in Mining-Non Ferrous.

Oil & Gas Companies

Most of the profit forecast changes occurring among energy stock prices are in reaction to better-than-feared first-quarter earnings, not an improved outlook for commodity prices.

Natural gas is a big reason why. Even with the recent rally, natural gas prices are down considerably for the year. As a result, many companies are focused on controlling costs. Furthermore, they are only expanding to the extent that cash flows allow them to. Though this helps the bottom line, we have yet to see analysts truly adjust their forecasts to account for the higher commodity prices.

After last year, it's not hard to blame brokerage analysts for being a bit cautious. During the first-half of 2008, they underestimated how high crude would climb. After the bubble peaked in July, many brokerage analysts incorrectly judged how quickly energy prices would plunge.

Our energy analyst, Sheraz Mian, advocates looking at oilfield service companies as a way to play the rise in energy prices. Among the stocks he has long-term buy ratings on is Weatherford (WFT).

WFT is a Zacks #3 Rank stock classified in Oil Field Machine & Equipment.

Commodity-Related Stocks Now Riskier

The lack of positive revisions implies that the risk of owning commodity-related stocks is high.

Valuations have increased notably as the higher stock prices have not been matched by a better earnings outlook. At the same time, commodities have staged a strong rally and it's hard to say how much upside is left. Though agriculture commodities may be influenced by the late planting season, energy and metal futures may need actual signs of higher demand to extend their rally.

Zacks "Profit from the Pros" e-mail newsletter offers continuous coverage of the industries and the stocks poised to outperform the market. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=2564.

About Zacks

Visit http://www.zacks.com/performance) for information about the performance numbers displayed in this press release.

Contact: Charles Rotblut, CFA
Company: Zacks.com
Phone: 312-265-9352
Email: pr@zacks.com
Visit: www.Zacks.com

Zacks Investment Research

Commodities Rally; Forecasts Don’t – Zacks Industry Rank Analysis

Charles Rotblut — Wed, 03 Jun 2009 05:00:00 +0000

Commodity prices have been soaring. Oil, gold, copper, wheat and corn all recently hit multi-month highs. Even the Duke Brothers are making a mint on orange juice futures.

What's interesting about the rally is that it has yet to translate into higher earnings estimates for commodity-related companies.

Agriculture Companies

Wheat and corn futures recently set 8-month highs. Other agricultural-related futures have also soared, such as coffee. Profit forecasts for agricultural companies, however, have been trending lower.

There are 2 reasons for the disconnect.

MON is a Zacks #4 Rank ("sell") stock and is classified in Agricultural Operations. AGU and POT are Zacks #3 Rank ("hold") stocks and are classified in Fertilizers.

Metal Stocks

Since January, gold has consistently stayed above $860 per ounce. After pulling back in April, the precious metal is once again nearing the $1,000 mark.

The lack of changes reflect a combination of uncertainty about where gold prices are headed, the impact of other metals on mining company profits (e.g. zinc has hurt profits for Agnico-Eagle Mines (AEM)) and lower production levels.

For other metals, the economy is the big issue. The worldwide recession has led to lower demand. Though optimism about a forthcoming recovery has helped send copper prices and other metals higher, the rise has not translated into better profit forecasts. Rather, the consensus estimates for AK Steel (AKS), Alcoa (AA) and other metal producers are holding steady or declining.

One notable exception is Freeport McMoRan (FCX). Within the past month, positive revisions have pushed the full-year consensus earnings estimate 2 cents higher to $1.02 per share.

AEM, AKS, AA and FCX are Zacks #3 Rank stocks. AEM is classified in Mining-Gold. AKS is classified in Steel-Producers. AA and FCX are classified in Mining-Non Ferrous.

Oil & Gas Companies

Most of the profit forecast changes occurring among energy stock prices are in reaction to better-than-feared first-quarter earnings, not an improved outlook for commodity prices.

Natural gas is a big reason why. Even with the recent rally, natural gas prices are down considerably for the year. As a result, companies like Apache (APA) are focused on controlling costs. Furthermore, they are only expanding to the extent that cash flows allow them to. Though this helps the bottom line, we have yet to see analysts truly adjust their forecasts to account for the higher commodity prices.

Our energy analyst, Sheraz Mian, advocates looking at oilfield service companies as a way to play the rise in energy prices. Among the stocks he has long-term buy ratings on are Weatherford (WFT) and Ensco (ESV).

APA, WFT and ESV are Zacks #3 Rank stocks. APA is classified in Oil-U.S. Exploration & Production. WFT is classified in Oil Field Machine & Equipment. ESV is classified in Oil & Gas Drilling.

Commodity-Related Stocks Now Riskier

The lack of positive revisions implies that the risk of owning commodity-related stocks is high.

Zacks Premium and Zacks Elite subscribers can view the Zacks Industry Rank List at http://www.zacks.com/zrank/zrank_inds.php. This interactive list allows you to see all of the companies, and their Zacks Rank, within more than 200 industries. Shown below is the Zacks Sector Rank List, which shows the trend in estimate revisions on a broader scale.

Sector Rank as of Jun 3
Sector	This Week's Zacks Rank	Last Week's Zacks Rank	FY09 Revisions Ratio	FY09 Estimates Revised Up	FY09 Estimates Revised Down
Retail-Wholesale	2.51	2.56	3.24	762	235
Consumer Staples	2.81	2.82	1.76	274	156
Conglomerates	2.86	2.93	1.10	22	20
Consumer Discretionary	2.88	2.83	1.08	302	279
Medical	2.89	2.86	1.33	716	537
Computer and Technology	2.95	2.92	1.14	873	764
Auto-Tires-Trucks	2.96	2.94	1.00	59	59
Utilities	3.01	3.02	0.91	173	191
Business Services	3.05	2.93	0.82	102	124
Oils-Energy	3.07	3.09	0.91	616	679
Basic Materials	3.09	3.08	0.62	174	280
Construction	3.14	3.20	0.55	83	150
Aerospace	3.15	3.25	0.80	41	51
Finance	3.18	3.20	0.77	698	902
Industrial Products	3.23	3.22	0.70	167	237
Transportation	3.26	3.33	0.44	99	224

Charles Rotblut, CFA, is the senior market analyst for Zacks.com. He can be reached at crotblut@zacks.com.

Zacks Investment Research

Seven Reasons A Boom in Silver is Beginning

Investment U — Mon, 01 Jun 2009 15:51:17 +0000

Joe Kunkle, Investment U Research Team With gold and oil hogging the “commodities spotlight,” silver is too often forgotten. However, a new trend is emerging that indicates a major rally may be starting in silver prices and silver related stocks. Over the past few weeks we’ve seen more and more data that supports a [...]

Video-o-rama: Higher bond yields raise caution

Prieur du Plessis — Fri, 29 May 2009 10:03:24 +0000

While investors' attention was focused on global government bond yields marching higher, the holiday-shortened week produced a surprisingly small number of video clips. Some quality footage was nevertheless produced, featuring the likes of David Rosenberg, Mohamed El-Erian, Barry Ritholtz, Puru Saxena and Mario Gabelli, and is shared in this post.

Gold, Climate Change and the Cap and Trade Revolution

Byron King — Thu, 28 May 2009 20:31:23 +0000

pLast week, I spent a full day in a seminar on climate change. It was a totally sober and professional seminar, sponsored by a group that specializes in continuing legal education for attorneys. I heard talks by a variety of lawyers, academics and regulators, mostly about how “the train has left the station” on climate change and carbon regulation. And wow… has that train ever steamed out. But did you ever hear the conductor call, “All Aboard?” This is a critical matter and here’s the takeaway point: emWe’re about to see an UTTER TRANSFORMATION of the U.S. economy/em./p pYour life will be regulated — directly and surely indirectly — by the Environmental Protection Agency (EPA), mostly through its powers under the#8230;/p

U.S. Stocks Fall, Pulled Down by Oil

Contrarian Profits — Fri, 15 May 2009 18:02:28 +0000

pU.S. stocks and oil prices turned south on Friday as investors questioned recent rallies in the face of economic data that still shows a mixed picture of when economies will rise from a deep global recession. /p pThe dollar and yen rose as worries persisted about global economic prospects despite a batch of better-than-expected U.S. economic data, prompting investors to seek shelter in the two safe-haven currencies. /p p Gold climbed to a six-week high after data showed U.S. core inflation rose more than expected in April, boosting the precious metal#8217;s appeal as a hedge against rising prices. /p p Oil fell toward $56 a barrel, pressured by weak global demand and a stronger dollar. /p p Europe sank to what may have been the recession#8217;s low#8230;/p

Precious Metals Advance

Doug Casey — Thu, 30 Apr 2009 18:40:33 +0000

pGold had a lackluster but still positive day, rarely straying out of the $895-900 range all the way from Hong Kong through the Globex, and finishing at $898.30/oz., up $5.00. Overnight, gold has fallen off. /p pPlatinum was also tightly rangebound, between $1080 and $1100, but managed to end at the high end, adding $4, to $1095. Overnight, platinum is trending higher./p pSilver was dead flat until the mid-point of the London session, then pushed slowly and steadily higher through the Comex and first hour of the Globex, before easing slightly into a close at $12.80/oz., up 31 cents. Overnight, silver is sharply lower. (a class="textBold" href="javascript:openCharts();"Click here for charts/a)/p pThe precious metals all staged a comeback yesterday, with silver performing especially well and the#8230;/p

The Process Of Grading And Rating Gold Coins

Investment Education Staff — Tue, 14 Apr 2009 11:15:17 +0000

There are various reasons why an individual would decide to begin acquiring gold coins. An explanation is they are seen as smart investments because their worth can be increased, so individuals are more inclined to acquire them. Even today you will discover that there is an exceedingly high demand for people who collect coins to acquire those that are uncommon.

Gold Mining Stocks: 5 Reasons to Buy Gold 4 Ways to Profit

Investment U — Thu, 09 Apr 2009 14:32:01 +0000

Gold Mining Stocks: 5 Reasons to Buy Gold & 4 Ways to Profit by Dr. Scott Brown, Education Director, Investment U As you know, I’m very bearish on gold. I’ve been in total agreement with Louis Basenese’s 12 Reasons Why You Should Short Gold and his follow-up article, A Clarification on Shorting Gold. But we’ve been in the [...]

Wednesday’s Market Recap (03/25/09)

Bullish Bankers — Thu, 26 Mar 2009 02:57:10 +0000

A turbulent day for the markets ended with a slight gain. The markets started out strong due to the release of strong economic data on housing and durable goods. The Dow and NASDAQ closed at 7749.81 and 1528.95 respectively. The S&P was up 0.96% to close at 813.88. Oil was down as news was released that [...]

Precious Metals Have Another Big Day

Doug Casey — Fri, 20 Mar 2009 18:28:54 +0000

pGold traded sideways in the Far East then displayed a nice upward trend through London and New York to finish at $959.00/oz up $17.50. Overnight, gold has moved higher./p pPlatinum was flat through Hong Kong then off to the races starting about 8 a.m. in New York and managed to tack on an impressive $65.00 before all was said and done, ending at $1123/oz. Overnight, platinum is down slightly./p pSilver’s path tracked gold to a emT/em. The precious metal gained 68 cents on the day to close at $13.57/oz. Overnight, silver is trending higher. (a class="textBold" href="javascript:openCharts();"Click here for charts/a)/p pIt was a second straight day of big gains for the precious metals. While gold didn’t fare quite as well as the day before, silver#8230;/p

And Then There’s This…Thursday, March 19th, 2009

Contrarian Profits — Thu, 19 Mar 2009 22:10:37 +0000

pGold did virtually nothing from the Globex open in New York on Tuesday evening#8230;right through until the Comex open in New York on Wednesday morning. /p pThen the selling pressure began in earnest. From the small vertical drops in price, it appeared that one or more not-for-profit sellers were pulling their bids#8230;and each time they did#8230;the price dropped vertically. These small waterfall declines are typical of the bullion banks. The bottom was in shortly before lunch in N.Y. From there the price rose slowly. Then at 2:15 the FOMC came forth with their two stone tablets and all hell broke loose. There was a gold price melt-up#8230;as there were bids, but no ask#8230;exactly the reverse of what happened earlier in the#8230;/p

And Then There’s This…Friday, March 6th, 2009

Contrarian Profits — Fri, 06 Mar 2009 20:30:06 +0000

pThe tiny double bottom that occurred shortly after the close of Comex trading on Wednesday afternoon strongmay/strong have been the low in gold for this move. Both were ever so slightly below $900. From there, gold rose gradually until about an hour after the London a.m. gold fix on Thursday morning. Then it declined gently until shortly after the London p.m. fix was in. From there, away it went#8230;until a not-for-profit seller showed up in after-hours Globex trading in New York and capped the little price spike that occurred at 3:30 p.m. New York time./p tr a href="javascript:openKKCImage('1236351924-3-6-09-image1.gif',635,405);"/a /tr tr a style="text-decoration: none;" href="javascript:openKKCImage('1236351924-3-6-09-image1.gif',635,405);"emclick to enlarge/em/a /tr pSilver#8217;s antics were the same as gold#8217;s, although the price action was more exaggerated. Silver began to rise once the London a.m. gold fix was#8230;/p

Gold Up on Flight to Safety

Contrarian Profits — Fri, 06 Mar 2009 13:30:23 +0000

pGold rose in Europe on Friday, building on the previous session#8217;s near 3 percent gains, as Wall Street#8217;s slide to 12-year lows curbed appetite for equities and the dollar tumbled ahead of U.S. jobs data later this session. /p p Investors spooked by volatility in other assets such as currencies and equities are buying the metal as a safe store of value, analysts said. /p p Spot gold climbed to $938.80/939.80 an ounce at 1014 GMT from $932.00 late in New York on Thursday. Earlier it touched a high of $941.90. /p p #8220;Gold is considered in the first instance at the moment an insurance premium and a safe haven,#8221; said Commerzbank analyst Eugen Weinberg. #8220;It is the equity markets and risk aversion that are moving#8230;/p

Emerging economies eye gold reserves as dollar fears rise

Alex Stanczyk — Tue, 03 Mar 2009 21:06:43 +0000

By John Irish and Luke Pachymuthu DUBAI, March 2 (Reuters) - Major emerging economies are seeking to raise their central banks’ gold reserve holdings as fears of a sharp depreciation in the U.S. dollar mount, senior industry officials said on Monday. Investors have been piling into gold [...]

Gold And Silver Down Again

Doug Casey — Mon, 02 Mar 2009 18:05:13 +0000

pGold trended slightly higher in Hong Kong and hit its intraday high above $960 in London then hit its intraday low below $930 at noon in New York before leveling off slightly, finishing at $939.60/oz., down $5.90. For the week, gold is down 5.25%./p pPlatinum, the only precious metal in the black over the past few days, tacked on $20 yesterday, ending at $1072.00/oz. For the week, platinum is down a mere 0.28%./p pSilver followed a similar path to gold but showed less volatility, closing at $13.11/oz., down 1 penny. For the week, silver is down an eye-popping 9.02%. (a class="textBold" href="javascript:openCharts();"Click here for charts/a)/p pSo, gold is down again… if you’re an investor you should be fired up. Trying to call the daily or#8230;/p

Gold Falls for Fifth Day as Dollar Strengthens; Silver Advances

Alex Stanczyk — Mon, 02 Mar 2009 14:20:37 +0000

By Pham-Duy Nguyen Feb. 27 (Bloomberg) — Gold fell, capping the first weekly loss in three, as the dollar strengthened [...]

Precious Metals Display Volatility

Doug Casey — Thu, 26 Feb 2009 17:28:53 +0000

pGold showed promise throughout London trading and reached an intraday high above $975, but a second straight sell-off in New York that began around noon pushed the yellow metal into the red, finishing at $952.10/oz., down $10.60. Overnight, gold is little changed./p pPlatinum dropped about $30 in Hong Kong but gradually gained back some of what it lost yesterday, ending at $1047.00/oz., up $6. Overnight, platinum is trending slightly higher./p pSilver followed a similar track to gold but the sell-off in New York was not as large and it finished the day almost where it started, closing at $13.73/oz., down 3 cents. Overnight, silver is little changed. (a class="textBold" href="javascript:openCharts();"Click here for charts/a)/p pIt was a volatile day for the precious metals, but big losses#8230;/p

Only Gold Is Winning the Ugly Contest

Jack Crooks — Thu, 26 Feb 2009 12:30:33 +0000

pGold did the deed. The precious metal closed over the psychological barrier of US$1,000 last week as the Senate Banking Committee Chairman Chris Dodd sideswiped the dollar./p pMr. Dodd, a man who pontificates on any and every subject under the sun and never lets real knowledge of a particular subject area stand between him and the nearest microphone decided to try out the #8220;N#8221; word - Nationalization! Traders viciously dumped the dollar on Dodd#8217;s #8220;deliberation.#8221;/p h4Dodd Speaks, the Dollar Sinks/h4 div/div pAnd of course the games continue!/p pThe dollar was sharply lower on opening in Asia last night with nationalization of U.S. banks ruling the headlines. But of course the U.S. isn#8217;t the only one flirting with bank nationalization. Take a second look at Europe#8230;/p

And Then There’s This…Thursday, February 19th, 2009

Contrarian Profits — Fri, 20 Feb 2009 20:32:52 +0000

pDespite gold#8217;s best attempts to rally in the Sydney market, a determined seller took the price down once Hong Kong opened. It rallied a bit until 1:00 p.m. in Hong Kong (midnight in New York) and then got sold off again until shortly after London opened. A rally commenced until shortly after the Comex opened#8230;and that was it for the day#8230;as gold was capped every time it tried to rally over $980. Estimated volume was 121,349 contracts, with a switch effect of 8,040./p pSilver was similar#8230;with its top price coming at 1:00 p.m. in Hong Kong. A small rally in London was crushed#8230;as silver came under selling pressure about an hour before the Comex opened. After the Comex close, silver did#8230;/p

Economy Down Gold Up, Stock Advice, Stimulus Bill to be Signed, Retail Forecast and More!

Contrarian Profits — Wed, 18 Feb 2009 17:15:16 +0000

pGold booms after global strife, Byron King on whether the precious metal is still a buy#8230; Stimulus bill a done deal, details of the final 1,073-page fiasco#8230; States in peril, revenue crash causes budget crisis from California to New Jersey#8230; Wal-Mart surprises Street, Rob Parenteau on retail’s sudden comeback#8230; Stocks dive toward new crisis lows, equity advice from Mayer and Buffett#8230; Plus, have you noticed? One major index quietly up 30% YTD#8230;/p p class="BodyCopy" align="left" strongSo how’s the financial world faring so far this week?/strong One chart should set the scene: /p p class="BodyCopy" align="center"/p p class="BodyCopy" align="left"A seven-month high for our favorite metal may be sign that investors are losing faith in…. umm… everything. In fact, gold is up 33% since October, making it one of the planet’s finest asset#8230;/p

Silver Wheaton Corp (NYSE: SLW): Stock of the Day

Investment U — Tue, 17 Feb 2009 17:23:25 +0000

Silver Wheaton Corp (NYSE: SLW): Stock of the Day by Matt Weinschenk, Senior Analyst, The White Cap Report The Silver Lining to a Dismal Morning On a day like today, it’s tough to get excited about stocks. But someone sure was excited about Silver Wheaton Corp (NYSE: SLW) this morning. It gapped up 2% and kept rising from [...]

Global Investment News Briefs Wednesday, February 11th, 2009

Contrarian Profits — Wed, 11 Feb 2009 12:25:09 +0000

pLive Nation Buys Ticketmaster; China Inflation Trudging Slowly; MillerCoors Profit Falls 40%; UBS Cuts Jobs, Announces Profitability; Traders Bid up Gold Options; Oil Falls Below $39;WalMart Cuts Jobs at Home Office; Cisco Raises $4 Billion/p ul type="disc" listrongLive Nation Inc. /strong(a href="http://finance.google.com/finance?q=NYSE%3ALYV"LYV/a), the world’s largest concert promoter, a href="http://www.reuters.com/article/ousiv/idUSTRE5194DL20090210"said it is buying strongTicketmaster Entertainment Inc./strong/a (a href="http://finance.google.com/finance?q=NASDAQ%3ATKTM"TKTM/a), the world’s largest ticketing company, for $2.5 billion including debt, strongemReuters /em/strongreported. The merger will create a music powerhouse, already unpopular with fans and likely to receive intense scrutiny from government antitrust investigators./li /ul ul type="disc" liChina inflation continued slowing in January, rising 1%, the slowest pace in nearly seven years. “a href="http://www.bloomberg.com/apps/news?pid=20601089#38;sid=ayBJ.CcZznBg#38;refer=china"Inflation could have been close to zero/a or worse if not for the Chinese New Year, because vegetable prices and grain prices went up,”#8230;/li/ul

GoldDrivers 2009 – Extraordinary Bullish Outlook For Gold

Alex Stanczyk — Mon, 09 Feb 2009 19:44:09 +0000

GoldDrivers 2009 - Extraordinary Bullish Outlook For Gold Eric Hommelberg Gold proves itself as only true alternative for the dollar Confidence in currencies shaken to the core Gulf countries are keen to break away from the link with the US dollar Chinese appetite for US debt in decline Former Bank of England official expects dollar collapse Investors fleeing into gold as US [...]

Gold Falls 2 % as Investors Cash in on Gains

Contrarian Profits — Mon, 09 Feb 2009 14:00:01 +0000

p style="text-align: left;"The Markets await the Obama economic stimulus and bank rescue plans#8230; AngloPlat reports higher earnings but flags up cost fears#8230; Johnson Matthey (a href="http://finance.google.com/finance?q=LON:JMAT"JMAT/a) sees 2009 platinum demand declining 5 pct#8230;/p pThis from Reuters, London:/p blockquotepGold fell nearly 2 percent in Europe on Monday as investors took profits after recent gains, amid disappointment the metal had failed to beat resistance near $930 an ounce last week. /p p Spot gold slipped to $895.65/897.65 an ounce at 1446 GMT, down from $911.70 in New York late on Friday. Earlier it touched a low of $893.15. /p p U.S. gold futures for April delivery on the COMEX division of the New York Mercantile Exchange fell $16.30 to $897.60 an ounce. /p p #8220;There has been some profit taking and disappointment we#8230;/p/blockquote

Boost and Secure Your Retirement with these 5 Solid Companies

Contrarian Profits — Wed, 04 Feb 2009 20:23:14 +0000

tr HIDDEN VALUE /tr tr pDear Reader,/p pThere#8217;s a #8220;great miracle#8221; playing out right before your eyes./p pIt seems that in the face of one of the worst financial failures in history#8230; one that has obliterated consumer spending#8230; and brought economic titans to their knees#8230; Keynesianism economics is making everything okay again./p pBloomberg reports that China#8217;s own stimulus package is working./p pAsian stocks have hit four-month highs. And#8230; hallelujah#8230; banks are lending again. /p pThis from Bloomberg:/p ul pemChinese banks may have offered a record 1.2 trillion yuan of new loans in January, the China Securities Journal reported today, citing people it didn#8217;t identify./em/p /ul ul pemThe four biggest state-owned banks completed 20 percent of their full-year target, with the majority of the loans lent for railways, highways, electricity grids and other infrastructure#8230;/em/p/ul/tr

Will The Move In Gold Continue?

Kingsley Anderson — Mon, 02 Feb 2009 11:41:00 +0000

Two weeks ago, I opined that Gold a href="http://tradethebreakout.blogspot.com/2009/01/gold-looks.html"may be in a position to move higher/a. Since that time, gold has indeed broken out (see chart below) and looks set to continue climbing-at least for the time being. Current market conditions have helped the commodity. As earning continue to disappoint and the economy shrink, traders have flocked to the precious metal. br /br /Moreover, low interest rates combined with the endless supply of money being pumped into the economy by the U.S. Government leads traders to believe that inflation will result. Based on history, this is not an unrealistic thesis. Therefore, Gold, as the ultimate inflation hedge, is bought by traders and investors. br /a href="http://2.bp.blogspot.com/_WqFIat5VaWU/SYbcVjHjvTI/AAAAAAAAAMo/Bag0ORaM2vg/s1600-h/gold.JPG"img id="BLOGGER_PHOTO_ID_5298164274410274098" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 294px; CURSOR: hand; HEIGHT: 320px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/_WqFIat5VaWU/SYbcVjHjvTI/AAAAAAAAAMo/Bag0ORaM2vg/s320/gold.JPG" border="0" //abr /diva href="http://1.bp.blogspot.com/_WqFIat5VaWU/SYbcRw5lyrI/AAAAAAAAAMg/GualVPHkxzA/s1600-h/gold+short+term.JPG"img id="BLOGGER_PHOTO_ID_5298164209390308018" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 282px; CURSOR: hand; HEIGHT: 320px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/_WqFIat5VaWU/SYbcRw5lyrI/AAAAAAAAAMg/GualVPHkxzA/s320/gold+short+term.JPG" border="0" //abr /br /diva href="http://4.bp.blogspot.com/_WqFIat5VaWU/SYbcNwCc5CI/AAAAAAAAAMY/eY2N469Esk8/s1600-h/gld.JPG"img id="BLOGGER_PHOTO_ID_5298164140439561250" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 274px; CURSOR: hand; HEIGHT: 320px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/_WqFIat5VaWU/SYbcNwCc5CI/AAAAAAAAAMY/eY2N469Esk8/s320/gld.JPG" border="0" //a From a technical perspective, where is gold headed? At this time, the trend is clearly up. Aside from breaking the abovementioned trendline, gold also broke above resistance in the 920 area. The 50 day moving average is also about to cross over the 200 day moving average- an event known by technicians as a “golden cross” because it usually portends a long-term bullish move. br /br /As one can see from the GLD chart above, volume has also been tracking higher, which indicates that the move in Gold is not just a sucker’s rally. Also notice that volume on down days has been low, while it has been higher on up days. br /br /A retest of the breakout area or the 200 day moving average is possible. Ensure that proper risk management is utilized. Also be cognizant of what is happening in the equity markets. A move higher in the market may result in money flowing from gold into stocks. br /br /br /div/div/div/div pa href="http://feedads.googleadservices.com/~a/XdePsfHmbD9aiqWFBr-hNevPTe8/a"img src="http://feedads.googleadservices.com/~a/XdePsfHmbD9aiqWFBr-hNevPTe8/i" border="0" ismap="true"/img/a/pimg src="http://feeds2.feedburner.com/~r/TradeTheBreakout/~4/uVyAVGbu1H4" height="1" width="1"/

The Ticking Bomb in Your Portfolio Is..

Contrarian Profits — Wed, 28 Jan 2009 18:08:21 +0000

tr HIDDEN VALUE /tr tr pDear Value Seeker,/p pIs gold back?/p pThe precious metal suffered heavy losses in the second half of 2008. But it has soared in recent weeks, breaking through the $900-an-ounce barrier yesterday./p pAs 5 Min Forecast editor Addison Wiggin says, #8220;Global investors see metal as the only currency worth holding.#8221;/p pThis from The 5:/p ul pemLooking around the globe today, every major currency is in the crapper #8212; and we#8217;re not the only ones to notice. The euro is being torn apart by once-booming members Ireland and Spain. Nor is Greece helping matters much. Across the channel, the pound is getting leveled by outright fear in the London banking scene. Switzerland and its franc are rapidly losing their safe-haven status. China#8217;s manipulating the yuan, as#8230;/em/p/ul/tr

Gold Dips on Profit Taking as Other Assets Recover

Contrarian Profits — Wed, 28 Jan 2009 16:17:59 +0000

pEuropean shares gain for third consecutive session#8230; Euro up against dollar, yen as risk aversion ebbs #8230; SPDR Gold Trust ETF, iShares silver ETF at record/p pGold slipped on Wednesday as investors cashed in profits after the precious metal hit a three-month high earlier this week, with a recovery in stock markets indicating the beginnings of a revival in risk appetite. /p p Spot gold was quoted at $892.10/894.10 an ounce at 1510 GMT, down from $897.35 late on Tuesday. U.S. gold futures for February delivery on the COMEX division of the New York Mercantile Exchange dipped $6.80 to $892.70 an ounce. /p p Gold has been well supported by investors#8217; fears over systemic risk and the outlook for the economy, which sent the metal#8230;/p

Gold Rises 2 % on Fresh Investor Interest

Contrarian Profits — Tue, 20 Jan 2009 13:56:41 +0000

pFirm investment demand outweighs weak jewelery buying#8230; Euro weakens on euro zone outlook#8230; Oil prices tumble nearly 10 percent#8230;/p pGold swung into the black on Tuesday, rising more than 2 percent to a one-week high of $855.75 an ounce, amid market talk of a large order. /p p Firm investment demand for gold as a haven from risk is fueling buying of the precious metal, analysts said. /p p Spot gold was quoted at $853.00/855.00 an ounce at 1228 GMT, up from $834.55 late on Monday. Earlier it touched a low of $822.90, down more than 1 percent. /p p Standard Chartered analyst Daniel Smith said strong investor flows into products such as exchange-traded funds as investors sought more secure assets were offsetting weaker jewelery demand. /p p #8220;People#8230;/p

The News Will Dominate Wall Street This Week

Andrew Snyder — Mon, 19 Jan 2009 19:05:12 +0000

pI should not have to tell you that this is going to be a big week, a monumental week, really – not only for the country, but for Wall Street./p pThe forces of the universe are pulling against one another. Tomorrow at noon, the nation will gain a leader that has inspired hope in millions of Americans. Economically, Obama’s stimulus plan is viewed as the last chance to keep the nation’s economy from retreating to a full-on depression./p pI will be watching closely to see if Obama’s 6-foot-1-inch body shrinks at the exact moment he places his left hand on the bible as the weight of numerous global crises is piled on his back. It will take one heck of a leadership#8230;/p

Why Gold’s Price Dip Is A Blessing

Dan Denning — Fri, 16 Jan 2009 11:39:29 +0000

pGold prices have fallen sharply to one-month lows this week. This is great news for investors, says stronga href="http://www.contrarianprofits.com/articles/author/dan-denning/" class="alinks_links"Dan Denning/a/strong. It#8217;s a chance to buy the precious metal at a price that will soon be considered a steal./p blockquotepGood news everyone. Gold has reached a one-month low. In fact, February gold futures on Comex fell the most in six weeks./p pThis is very good news. It means you will have a chance to buy gold at lower prices before it goes up higher later this year. Much higher, in fact, according to the 2009 forecast made by emDiggers and Drillers/em editor Al Robinson./p pNot everyone agrees that gold is going higher, mind you. “The deflationary scenario is still incredibly intact, even though the government has#8230;/p/blockquote

Gold Falls 1 pct as Dollar Firms; ECB Eyed

Contrarian Profits — Wed, 14 Jan 2009 18:05:29 +0000

pU.S. data sparks flight to dollar#8230; Oil slips, traders fret over demand outlook#8230; Traders await ECB rate decision on Thursday. Gold fell 1 percent on Wednesday, giving up earlier gains as the dollar firmed against the euro after weaker-than-expected economic data sparked a flight to the relative safety of the U.S. currency./p p Trading is expected to be muted ahead of the interest rate announcement of the European Central Bank on Thursday, traders said. The ECB is widely expected to cut rates by 50 basis points. /p p Spot gold was at $812.00/814.00 an ounce at 1523 GMT, down from $821.05 in New York late on Tuesday. It touched a high of $828.65 earlier in the session, but slipped as the euro retreated and#8230;/p

Coal Energy Is Here To Stay… Here’s 3 Ways To Profit

Contrarian Profits — Mon, 12 Jan 2009 20:48:17 +0000

tr HIDDEN VALUE /tr tr p br / Dear Value Seeker,/p pAfter a 5% slump last week, U.S. stocks started on the back foot again today./p pThe reason? /p pU.S. companies are about to release their earnings reports for 4Q 2008. /p pWe already know that’s when stocks crashed to their lowest level in over a decade. And when retail sales and manufacturing nosedived. /p pNow we get to find out just how bad the crash has affected corporate America./p pThe omens aren’t good#8230; /p pAluminium producer Alcoa, which kicks off earnings season after the market closes today, is down 6% in early trading./p pAndrew Snyder at a href="http://www.todaysfinancialnews.com" class="alinks_links"Today’s Financial News/a says investors should prepare for a “horrid earnings season.” /p pRetailers, technology, commodities: Across these three sectors, readings are expected to be grim./p pBut the scariest figures#8230;/p/tr

Gold rush erupts over financial crisis

Alex Stanczyk — Sun, 11 Jan 2009 04:48:55 +0000

Alex’s Notes: Had a funny thing happen to me last week. There is currently this scam going around the internet where people are trying to buy and sell gold at a discount to the spot price. This is really kind of funny, but because there are so many amatuers in the bullion markets who haven’t bothered studying [...]

Gold has gained in 8 out of 8 years now, with an average return of 13.6% per annum

Alex Stanczyk — Wed, 07 Jan 2009 21:39:53 +0000

The safe haven status of gold is starting to shine brighter and brighter, according to Jurg Kiener, CEO of Swiss Asia Capital. He explains his bullish outlook on the precious metal to CNBC’s Oriel Morrison. Click here to watch the video on CNBC.com

Gold Weakens on Strong Dollar, Platinum Rises

Contrarian Profits — Tue, 06 Jan 2009 16:30:55 +0000

pDollar touches fresh 3-week high versus the euro#8230; ETF Securities reports 2 pct rise in gold ETF holdings#8230; Platinum, palladium rise to multi-week highs#8230;/p pGold fell more than 2 percent on Tuesday as a stronger dollar dented the precious metal#8217;s appeal as a currency hedge, but the platinum group metals rallied as investors hunted for bargains. /p p Spot gold was quoted at $846.50/848.10 an ounce at 1444 GMT, down from $858.90 late in New York on Monday. However, it lifted off an earlier low of $838.55 as the dollar trimmed gains against the euro after a raft of U.S. data at 1500 GMT. /p p U.S. gold futures for February delivery on the COMEX division of the New York Mercantile Exchange were down $10.10#8230;/p

Gold Leads Precious Metals Slide on Firmer Dollar

Contrarian Profits — Mon, 05 Jan 2009 20:30:02 +0000

pDollar rises to 3-week high vs euro on stimulus hopes#8230; Oil prices fail to hold gains above $48 a barrel#8230; Abu Dhabi Dec gold sales fall 40 pct month on month. /p pGold slid more than 3 percent in Europe on Monday as the strengthening dollar knocked the metal#8217;s appeal as a currency hedge, and oil prices retreated from highs. /p pOther precious metals tumbled in gold#8217;s wake, with silver falling 8 percent, platinum 3 percent and palladium 6 percent. /p p Spot gold was quoted at $851.65/853.65 an ounce at 1445 GMT, down from $873.20 an ounce late in New York on Friday, having touched a session low of $843.50. /p p U.S. gold futures for February delivery on the COMEX division of the New#8230;/p

New GCC single currency agreed, will it include gold?

Alex Stanczyk — Wed, 31 Dec 2008 12:38:34 +0000

New GCC single currency agreed, will it include gold? Filed under: Gold & Silver, Inflation, Oil Prices, UAE Revaluation, UAE Stocks, US Bonds, US Dollar — peterjcooper @ 8:56 am Gulf Cooperation Council leaders yesterday concluded their 29th annual summit meeting in Muscat, Oman with a final approval for the creation of a single currency for the [...]

Gold Hits Record High in Sterling Terms

Contrarian Profits — Mon, 29 Dec 2008 17:09:35 +0000

p Gold was firmer on Monday, tracking a climb in crude oil prices on the back of burgeoning tensions in the Middle East, although it retreated from earlier highs as oil gave up some of its gains. /p p Weakness in the dollar is also supporting gold, while a slide in the value of sterling to a record low versus the euro helped to take the precious metal to a new all-time high when priced in British pounds, according to Reuters data. /p p Spot gold reached a session high of $889.55 an ounce, its strongest level since Oct 10, but eased to $875.20/877.20 by 1422 GMT from $866.80 late in New York on Friday. /p p In sterling terms, gold hit a new all-time high of#8230;/p

GoldDrivers 2009 – Extraordinary Bullish Outlook for Gold

Alex Stanczyk — Wed, 24 Dec 2008 15:29:35 +0000

GoldDrivers 2009 – Extraordinary Bullish Outlook for Gold By: Eric Hommelberg ldSeek.com Dollar topping out Physical demand skyrocketing Supply chain shutting down COMEX Gold Manipulation exposed Gold shares on the move again It sure has been a brutal year for gold and its shares and many may [...]

Gold Climbs 2 percent as Dollar Hits 2-month Low vs Euro

Contrarian Profits — Mon, 15 Dec 2008 16:57:31 +0000

pDollar weakens to two-month low versus euro#8230; Oil climbs nearly 7 percent; OPEC supply cut expected /p p Gold rose more than 2 percent in Europe on Monday as the dollar slipped to a fresh two-month low versus the euro, boosting interest in the precious metal as a currency hedge. /p p Gold was held below $830 an ounce for much of the day by technical resistance, but stops were triggered as the rising euro pushed prices higher, leading to a spike to a two-month high of $842.15 an ounce. /p p Spot gold was quoted at $840.05/842.05 an ounce at 1533 GMT, against $819.90 an ounce in New York late on Friday. /p p Traders are awaiting an announcement on interest rates from the U.S. Federal Reserve#8230;/p

What I’m Reading Today

Sean Brodrick — Mon, 15 Dec 2008 15:29:52 +0000

nbsp;Here's what I am reading today ...brbrASIAbrbrA class=summheadline href=http://www.bloomberg.com/apps/news?pid=20601087sid=auPaBwMwwGtgamp;refer=worldwideSTRONGJapanese Business Confidence Plunges Most in 34 Years as Recession Deepens /STRONG/ASentiment among Japan’s largest manufacturers fell the most in 34 years, signaling companies are likely to cancel spending plans and cut more jobs, pushing the economy further into recession. brbrA class=summheadline href=http://www.bloomberg.com/apps/news?pid=20601089amp;sid=ablWg2RUlVmkamp;refer=chinaSTRONGChina Plans to Increase Money Supply in 2009 to Boost Domestic Consumption /STRONG/AChina aims to increase its money supply 17 percent in 2009 and encourage lending to boost domestic consumption and buoy growth in the world’s fourth-largest economy. brbrENERGYbrA class=summheadline href=http://www.bloomberg.com/apps/news?pid=20601072amp;sid=aXp2Rc3B4FSEamp;refer=energySTRONGCrude Oil Rises as OPEC's El-Badri Says Sizeable Cut Is Needed at Meeting /STRONG/ACrude oil rose, touching $50 a barrel in New York, after OPEC’s Secretary-General Abdalla El-Badri said the group needs to make a “sizable” output cut at this week’s meeting in Algeria. brbrA href=http://www.bloomberg.com/apps/news?pid=20601072amp;sid=auG5o.dtUTXMamp;refer=energySTRONGOPEC Collides With Goldman Over $75 Oil in First Demand Decline Since 1983 /STRONG/AThe Organization of Petroleum Exporting Countries will probably lower output targets by at least 2 million barrels a day, or 7.3 percent, when its members meet Dec. 17, according to 18 of 33 analysts surveyed by Bloomberg. While Saudi Arabia’s King Abdullah said last month that his country needs oil priced at $75 a barrel to spur development, Goldman Sachs Group Inc. predicts crude may slide to $30 from $46.28 today. brbrA href=http://online.wsj.com/article/SB122929599488205129.htmlSTRONGOPEC Is in a Desperate Race Against Falling Oil Prices /STRONG/AOppenheimeramp;Co. senior oil analyst Fadel Gheit estimates the world oil supply is likely to drop by three million to five million barrels a day in 2009, due to OPEC cuts and smaller companies slashing production, compared with a decline of just one million to two million barrels a day in global oil demand. brbrCOMMODITIESbrbrA class=summheadline href=http://www.bloomberg.com/apps/news?pid=20601087amp;sid=a6gmHwgfOdlUamp;refer=worldwideSTRONGAustralia Cuts Commodity Export Sales Forecast 10% on Global Credit Crisis /STRONG/AAustralia, the world’s largest shipper of coal, iron ore and wool, cut its commodity exports forecast by 10 percent because of the global financial crisis that may continue to hinder any recovery until the second half next year. brbrA class=summheadline href=http://www.bloomberg.com/apps/news?pid=20601012amp;sid=aQzXl12mJ3qcamp;refer=commoditiesSTRONGGold Futures Climb in New York as Dollar Extends Slump; Silver Advances /STRONG/AGold prices rose as the slumping dollar boosted the appeal of the precious metal as an alternative investment. Silver also gained. brbrA class=summheadline href=http://www.bloomberg.com/apps/news?pid=20601012amp;sid=aRFdMBWjs.zUamp;refer=commoditiesSTRONGChina's Soybean Imports May Double This Month as Domestic Prices Advance /STRONG/AChina, the world’s largest buyer of soybeans, may double its imports this month from a year earlier, after higher prices of domestic beans prompted buyers to increase purchases overseas in the past few weeks. brbrA class=summheadline href=http://www.bloomberg.com/apps/news?pid=20601012amp;sid=aoSoV9K.mF24amp;refer=commoditiesSTRONGWorld Gold Output to Rise for the First Time in Four Years, Australia Says /STRONG/AGlobal gold production may rise for the first time in four years in 2009 as China and Indonesia increase output, Australia’s commodity forecaster said. brbrSTRONGEMXX Sean's note -- that will be an interesting trick (to raise global producition) the way that the credit crunch is cutting into mine expansion plans, but I guess anything is possible./EM/STRONGbrbrUS DOLLARbrbrA class=summheadline href=http://www.bloomberg.com/apps/news?pid=20601087amp;sid=aep.TljJ4.Tkamp;refer=worldwideSTRONGDollar Falls to Eight-Week Low Versus Euro on Auto Industry Bailout Costs /STRONG/AThe dollar fell to an eight-week low versus the euro on speculation a U.S. government rescue for the country’s automakers will leave less money to protect the financial system. brbrA href=http://www.bloomberg.com/apps/news?pid=20601087amp;sid=a3f._bJvEaZUamp;refer=homeSTRONGDollar Staggers as U.S. Unleashes Flood, Deficits Increase, Fed Cuts Rates /STRONG/AU.S. policy makers are flooding the world with an extra $8.5 trillion through 23 different plans designed to bail out the financial system and pump up the economy. The decline shows that the increased supply of money may be overwhelming investors just as the government steps up debt sales, the trade and budget deficits grow and de-leveraging by investors slows. brbrA href=http://www.bloomberg.com/apps/news?pid=20601087amp;sid=a3p7GCBgAnhoamp;refer=home rel=nofollowSTRONGTreasury Benefits From ‘Massive Paranoia’ as Bailout Cost Falls/STRONG/A Instead of shunning the U.S., where losses on subprime mortgages in 2007 triggered a global seizure in credit markets that led to the downfall of securities firms Bear Stearns Cos. and Lehman Brothers Holdings Inc., investors can’t get enough A onmouseover=return escape( popwQuoteShort( this, 'YCGT0025:IND' )) href=http://www.bloomberg.com/apps/quote?ticker=YCGT0025%3AINDSTRONGTreasuries/STRONG/A. Even as estimates of Obama’s stimulus package and the budget A onmouseover=return escape( popwQuoteShort( this, 'FDEBTTY:IND' )) href=http://www.bloomberg.com/apps/quote?ticker=FDEBTTY%3AINDSTRONGdeficit/STRONG/A rise to a record $1 trillion, demand continues to increase as investors flee risky assets around the world and put their cash into U.S. bonds paying, in some cases, nothing in yield just to ensure the return of their principal. brbrUS ECONOMYbrbrA style=COLOR: #cc0000 href=http://www.bloomberg.com/apps/news?pid=20601087amp;refer=homeamp;sid=aP0_RXyfs84sSTRONGUS cost of living probably fell most in six decades /STRONG/AbrThe cost of living in the U.S. probably fell in November by the most in six decades, while slumps in manufacturing and homebuilding worsened, sending the economy deeper into a recession, economists said before reports this week. Consumer prices probably dropped 1.2 percent last month, the most since records began in 1947, according to the median estimate in a Bloomberg News survey. Builders broke ground on the fewest houses in almost a half century and factory output continued to slide. Costs of oil and other raw materials plummeted last month as the credit crisis caused consumers to slash spending, prompting automakers to plead for a bailout. Tumbling sales have retailers cutting prices, setting the stage for the Federal Reserve this week to lower its key rate target to its lowest level ever.brbrGLOBAL WARMINGbrbrA href=http://www.thestar.com/News/article/552439STRONGThe glaciologist's worst nightmare/STRONG/A Lakes of melted ice form on the surface of the polar ice caps in the summer months, driving cracks down through the ice, creating conduits. In Greenland recently, one such lake, three kilometres wide, emptied like a draining bathtub in just 90 minutes.So much water surging down to the bedrock of the ice sheet could contribute to massive icebergs breaking off and sliding into the sea – causing a sharp rise in sea level. It's the glaciologist's worst nightmare.

And Then There’s This…Monday, December 6th, 2008

Contrarian Profits — Mon, 08 Dec 2008 18:56:53 +0000

pAs per usual lately, there was little action in gold in Far East trading on Friday. The #8216;top#8217;#8230;such as it was#8230;was at the London a.m. fix. From there, it was downhill all the way#8230;with the real damage coming on the Comex open#8230;again, as per usual. The bottom was in shortly after the London close. From there, a respectable rally cut the losses on the day to only eleven bucks. The silver chart was similar, but this precious metal made it all the way back to virtually unchanged from its inter-day low yesterday. However, the HUI managed to finish slightly positive on the day./p pGold open interest on Thursday fell another 891 contracts to 263,295. Silver o.i. actually rose 794 contracts to#8230;/p

Gold Rallies as Investors Fret about Inflation

Contrarian Profits — Mon, 08 Dec 2008 12:19:42 +0000

pGold surge fuelled by inflation fears#8230; Deflation seen short-lived#8230; Platinum boosted, helped by auto sector optimism /p p Gold surged on Monday, helped by higher oil prices, a lower dollar and investor concern about inflationary pressures given the large amounts of money being pumped into the global economy. /p p Autocatalyst material platinum jumped more than 6 percent to $840 an ounce, while palladium gained more than 11 percent to $178 on growing optimism about a rescue for the auto industry in the United States. /p p Spot gold rose nearly 3 percent to $776.70 an ounce and was up at $773.90/775.90 at 1030 GMT from $754.60 in New York late on Friday, when it fell to $740.40, the lowest since November 20 in a commodities-wide#8230;/p

Gold Falls After Weak U.S. Jobs Data

Contrarian Profits — Fri, 05 Dec 2008 15:34:37 +0000

pU.S. non-farm payrolls fall 533,000 in November#8230; Oil slips more than 2 percent /p pGold fell on Friday as investors sold assets after data showed a much larger-than-expected fall in U.S. November non-farm payrolls. /p p A sharp dip in the dollar in the immediate wake of the numbers initially sent gold higher, but it quickly gave up gains as the U.S. currency reversed direction. /p p The precious metal is often bought as an alternative investment to the dollar and tends to move in the opposite direction to it. /p p Spot gold was quoted at $752.30/754.30 an ounce at 1427 GMT, against $765.70 late in New York on Thursday, having earlier touched a low of $747.20. /p p #8220;(The data) shows a worsening economic situation, and it#8230;/p

Gold Dips on Stronger Dollar, Rate Cuts Awaited

Contrarian Profits — Thu, 04 Dec 2008 13:16:32 +0000

pDollar firms vs euro; ECB seen cutting rates by 50 bp#8230; Oil slides as demand woes outweigh U.S. stockpile dip#8230; ZKB platinum ETF holdings rise 27 pct /p pGold slipped in Europe on Thursday as the dollar firmed against the euro ahead of an expected rate cut by the European Central Bank later in the session, and oil prices fell $1 a barrel. /p p Investors are eyeing rate cuts this session from both the ECB and the Bank of England and key U.S. jobs data on Friday for clues as to the future direction of trade. /p p Spot gold slid to $769.25/771.25 an ounce at 1000 GMT from $772.60 an ounce in New York late on Wednesday. /p p #8220;With a lower euro-dollar and lower#8230;/p

Why Gold Will Soar As Fiat Currencies Crumble

Contrarian Profits — Wed, 03 Dec 2008 14:58:16 +0000

pThe short-term path of gold is still unclear says strongDavid Galland/strong. But its a good sign that demand for physical gold soars when prices tip towards $750 an ounce. And this threshold is likely to creep upwards as the US dollar loses its worth, and foreign governments convert currency reserves for the precious metal./p pThis from a href="http://www.moneymorning.com" class="alinks_links"Money Morning/a:/p blockquotepOf late, I have read a number of analysts, Jim Rogers even, who have expressed the view that gold could dip to the mid- to low $600 level./p pIt could happen, but I think not. Already, buyers of physical gold are finding anything near $700 to be cheap and are helping to build a floor under the monetary metal. On that topic, a friend sent#8230;/p/blockquote

Gold Recovers as Dollar Falls on Rising Equities

Contrarian Profits — Tue, 02 Dec 2008 17:18:08 +0000

pDollar weakens against euro as U.S. equities gain#8230; Oil recovers from 3-1/2 year low #8230; Traders look to U.S. auto sales figures to guide platinum /p p Gold climbed 1 percent on Tuesday, reversing earlier losses, as the dollar weakened against the euro on firming U.S. equity markets and oil prices recovered from 3-1/2 year lows. /p p Spot gold was quoted at $781.70/783.70 an ounce at 1522 GMT, up from $770.60 an ounce late in New York on Monday. /p p #8220;Oil recovered and the euro-dollar is higher,#8221; said Wolfgang Wrzesniok-Rossbach, head of sales at precious metals group Heraeus. #8220;Those are the main reasons for the move.#8221; /p p #8220;The outlook from here really depends on the leading indicators, as well as oil and the dollar,#8221; he#8230;/p

Gold Eases on Dollar but Eyes Hefty on Monthly Gain

Contrarian Profits — Fri, 28 Nov 2008 17:21:58 +0000

pGold eases in quiet trade, traders eye next week#8217;s data#8230; Gold set for biggest gain since 1999 on safe haven buying/p p Gold edged down on Friday as the dollar firmed against the euro, but trading was quiet as investors awaited the outcome of OPEC#8217;s production meeting this weekend and a spate of data due next week for fresh impetus. /p p Spot gold was quoted at $810.00/812.50 an ounce at 1310 GMT, down from $814.60 an ounce late on Thursday, as the firmer dollar dented interest in the metal as a currency hedge. /p p The euro slipped after data showed falling inflation in the euro zone, boosting expectations the European Central Bank will cut interest rates further. [ID:nLS548735] /p p Falling oil prices are also doing#8230;/p

And Then There’s This…Tuesday, November 25th, 2008

Contrarian Profits — Tue, 25 Nov 2008 18:51:17 +0000

pGold sold off gently in thin Far East trading on Monday morning#8230;and the bottom was in a couple of hours before Hong Kong closed. From there, gold rose until about 10:00 a.m. in London, and although it tacked on about another ten bucks during Comex trading in New York, it had given all that back by the Comex close./p pAs for the silver price, it bottomed at the same time as gold and was off to the races shortly after London opened. The top was was in shortly after 10:30 Eastern time when it appeared that the about-to-become-parabolic rally drew the attention of the boyz. From that point on, the silver price didn#8217;t do too much./p pAs would be expected, volume in#8230;/p

Peter Schiff on Yahoo Tech Ticker

Trader Mark — Mon, 24 Nov 2008 15:24:00 +0000

2 part series - Art Laffer, how sad to say your economic views only have a life of 9 months. Good to see Schiff get his dues even if the past 4-5 months has been rough on his patch of hideouts - outside of US Treasuries no one can find a place [...]

Inflationary Bailout To Send Gold Soaring In 2009

Contrarian Profits — Mon, 24 Nov 2008 11:53:09 +0000

pGold demand increased by 45% from the second quarter to the third. So why are gold prices falling? strongMike Caggeso /strongsays frantic de-leveraging by hedge funds outweighed record retail demand for the precious metal. But he says the inflationary impact of the government#8217;s bailout bonanza will be the catalyst for soaring gold prices in 2009./p pThis from a href="http://www.moneymorning.com" class="alinks_links"Money Morning/a:/p blockquotep“Gold’s universal role as a store of value has shone through during this quarter helping attract investors and consumers to all forms of gold ownership,” James E. Burton, chief executive officer of the a href="http://www.gold.org/" target="_blank"World Gold Council/a./p pHowever, if you’d just looked at gold’s performance alone, you’d never be able to tell demand was so strong. Indeed, in the third quarter alone, gold prices tumbled#8230;/p/blockquote

China Gold Demand

Alex Stanczyk — Thu, 20 Nov 2008 15:31:04 +0000

Apparently its not just the US, the Middle East, and Europe Scrambling for gold, but also China, according to a recent article in the Shanghai Daily. Investors going for gold as a safe haven By Zhang Fengming | 2008-11-20 | NEWSPAPER EDITION DEMAND for gold in China rose 18 percent in the third quarter as consumers turned to [...]

How Fed’s ‘Reflate At All Costs’ Will Destroy The Dollar

Contrarian Profits — Wed, 19 Nov 2008 16:57:11 +0000

Forget talk of a slump in gold, says Justice Litle. The precious metal is still on a long-term uptrend that started in 2001. And the “reflate at all costs” strategy of the Fed will eventually send gold soaring again as the world wakes up awash with dollars that it doesn’t want.

This from Taipan Daily:

Take a look at this long-term gold futures chart.

Stepping out to a longer-term chart is a bit like seeing the world from a higher altitude. As you head further out, the drama begins to recede. (From a far enough distance, the world is little more than a pale blue dot – as Carl Sagan liked to point out.)

So, too, with gold. There has been a lot of yellow…

Hold On There Volcker Fans, Don’t Forget The Past

Contrarian Profits — Mon, 17 Nov 2008 14:03:17 +0000

Rumours continue to circulate that former Fed Chairman Paul Volcker will be Obama’s Treasury or Fed chief. Volcker’s hardline anti-inflation stance makes him an exciting prospect for Greenspan/Bernanke critics. But Andrew Carpenter says we should also remember the painful recessions that Volckers’ interest rate hikes induced…

This from Investor’s Daily Edge

Some people – even fellow IDE contributors - think Paul Volcker should be the next Secretary of the Treasury… even Chairman of the Federal Reserve.

A non-scientific survey leads me to believe the majority of these Volcker fans were not adults between 1979 and 1987… heck, I suspect most were in diapers or not even here yet… you know, that gleam in daddy’s eye stuff.

Because, as you’ll remember, those were the years…

Smith & Nephew plc (SNN) Expands ACTICOAT™ Line of Wound Dressings with Introduction of ACTICOAT™ Flex

QualityStocks — Fri, 07 Nov 2008 18:38:57 +0000

Most people that have scraped their fingers, hands, or face know from experience how difficult and discomforting it can be to keep these bendable and creased areas covered with a bandage. Smith & Nephew PLC, a top medical equipment and appliance supplier, said today it is introducing a new product to address this problem, [...]

S&P Update and Bearish News on Commodities; SLV Chart

Sean Brodrick — Fri, 31 Oct 2008 20:05:03 +0000

Well, the S&P 500 did not quite go high enough to give us an outside reversal day. Last week's high was 985.44. This week's high was 948.38.

However, some people will say these lines are drawn in crayon, not with razors. So, make your own decision.

In other news, lots of bearish stuff on commodities ...

Vale Will Cut Output as Credit Crunch Crimps World Iron-Ore, Metals Demand Cia. Vale do Rio Doce, the world's biggest iron-ore producer and second-largest nickel supplier, will lower output because the global credit crisis curbed metal demand.

Gold Futures Tumble 18% in October, Most in 28 Years, as Dollar Rebounds Gold futures fell, posting the biggest monthly decline in 28 years, as the dollar climbed, reducing the appeal of the precious metal as an alternative investment. Silver also fell.

Wheat Heads for Biggest Monthly Decline in 22 Years on Dollar's Strength Wheat fell for a second day as a worsening economic crisis and a rallying dollar erode global demand for supplies from the U.S., the world's biggest exporter of the grain.

Commodities Head for Worst Month in 52 Years as Economies Slow Worldwide Commodities headed for their worst month since at least 1956 on concern that a slump in global economic growth will sap demand for raw materials.

And 1 piece of of bullish news on oil ...

Crude Oil Rises as Colder Weather Increases U.S. Demand for Heating Fuels Crude oil rose, following heating fuels higher, on forecasts for lower temperatures in the Midwest next week.

And resource company news continues to be pretty good ...

Goldcorp Profit Rises Fourfold After Output Increases, Bullion Price Gains Goldcorp Inc., the world's second- largest gold producer by market value, said third-quarter profit rose fourfold because of higher bullion prices and a foreign- exchange gain.

Chevron profit doubles to $8 billion Chevron Corp. said Friday its third-quarter profit more than doubled to nearly $8 billion, built on the summer's record run of triple-digit crude oil prices. At the same time, the subsequent slump in the global economy and sharp drop in energy prices have prompted the nation's second-biggest oil company to rethink how quickly it should spend its third-quarter winnings.

Finally, let's look at the SLV.

The SLV (Silver ETF) continues to consoliate Wednesday's rally and remains above the 10-day moving average (the blue line). Momentum indicatos are turning bullish hinting that sideways to higher prices are possible near-term. Upside targets are 10.24 and then 12.50.

Have a good weekend.

Why Fed’s Money Printing Will Send Gold Soaring

Ed Bugos — Thu, 30 Oct 2008 15:53:52 +0000

Gold bug Ed Bugos is sure of a bright future for the precious metal. He says the only real obstacle to a gold bull run is full monetary (not asset) deflation. And the way the Fed is expanding credit, this seems like an unlikely scenario. Ed says this means a boom in gold mining is just around the corner.

Tri-Star Gold, Inc. – A Subsidiary of Tri-Star Holdings, Inc. (TSHL.PK)

QualityStocks — Mon, 27 Oct 2008 18:45:33 +0000

Tri-Star Gold is a mineral exploration company engaged in the acquisition and development of both precious and noble metals. Through its resource properties in the states of Nevada, Arizona, and Idaho, the company has produced platinum, gold, silver, and copper. In addition to its existing claims, Tri-Star has plans for further acquisitions that will strengthen [...]

Money4Gold Holdings, Inc. (MFGD.OB) – Cash Paid for Precious Metals

QualityStocks — Mon, 20 Oct 2008 19:55:15 +0000

In tough times consumers turn to their old jewelry boxes to cash in on those unused precious metals. Money4Gold increases shareholder value by producing gold, platinum and silver without the risks of mining, large capital costs or the environmental hazards associated with mining. This is a pure recycling play of the 24 karat kind. Gold [...]

Gold Silver shortage and Spot Price Complete Disconnect

Alex Stanczyk — Tue, 14 Oct 2008 11:45:14 +0000

By Toni Straka Having blogged earlier on a physical silver shortage and the drying up of gold bullion purchases, recent events in the precious metals markets justify an update that again arrives at the conclusion that last Friday’s silver and gold price plunge on COMEX has pretty little to do with the actual [...]

MARKET COMMENT October 13, 2008 Yeah, they’re tossing everything they’ve we’ve got at markets.

David Fry — Mon, 13 Oct 2008 22:32:37 +0000

MARKET COMMENT October 13, 2008 Yeah, they’re tossing everything they’ve we’ve got at markets. Lloyd Bridges line from the movie Airplane may be what we all need right now eh? With markets deeply oversold we rallied mightily on the backs of coordinated efforts from global monetary authorities. So that’s the bottom then right?

Stock Market News & Stocks to Watch from StraightStocks » precious metal

Trading Gold Exchange Funds

Commodity inflation

Correlation (using a rolling sample beginning one year before indicated date) between returns on oil and specified commodity. Source: Tang and Xiong (2009).

Coefficient relating return on average commodity to return on oil as a function of time for commodities included in the GS or DJ indexes (top curve) and those excluded (bottom curve). Source: Tang and Xiong (2009).

Weekly U.S. crude oil ending stocks, excluding SPR, in thousands of barrels, from EIA. Black line: average over 1990-2007. Red: 2008. Green: 2009.

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