Gold
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Gold a matter that do not want to tarnish no matter how we treat it..in its perfect pure state. check your gold prices..[[1]] it went over the moon..! SAN FRANCISCO (MarketWatch) -- Gold was supposed to be more resilient, both literally and figuratively, to the sell off in commodities -- yet prices for the precious metal have dropped more than $100 per ounce in the past two weeks. The talk of a breakdown in the so-called commodities bubble has started to encompass gold. But the metal's unique quality as a safe-haven investment gives it that special edge that may help it break away from the slump in other commodities. "The situation is somewhat confusing," said Frederic Panizzutti, senior vice president at Swiss-based MKS, a precious metals service provider. "Gold remains a safe haven, but its attribute as a commodity links it to the trend of other commodities." Gold prices have suffered a drop of almost 12% since July 31. They tacked on nearly $17 on Wednesday and lost it the next day. Oil prices have fallen more than 20% in a month. Corn and wheat futures have also dropped from their record levels this year. "The speculative allure [gold] had presented to index and hedge funds has all but dissipated," said Jon Nadler, a senior analyst at Kitco Bullion Dealers. Oil, wheat, rice and a host of base and precious metals had climbed "clearly beyond the scope of their fundamentals and reached distorted levels," said Nadler. And "many were well aware that when the oil surge ... would come to a halt or reverse course, that it would carry with it part or all of the group," he said. "This, in fact, has happened -- however, it unfolded a lot quicker than conventional wisdom expected."
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[edit] Deflation & Inflation
Just like stocks gold will see-saw for a while, eventually still hits high prices when gold consuming Countries like India, Arabian oil rich countries and traditional seasonal buying will push it up & up to at least US 1,500 per oz (or 28.35 grammes)
[edit] News BreAKGold for June delivery was up $13.90 to $1,211.20 an ounce at the Comex division of the New York
[edit] US gold settles off 14-mo high, profit takers sell
- Gold is settling at US $1130-1135 per ounce at the moment after or around this Easter, so there's bound to be some profit-taking.. :[[User:Terry|wowowow|]] 23:20, 6 April 2010 (SGT)
That's what is for now..then? 08:03, 18 September 2009 (SGT)
- gold going down to US$1100 maybe good for those in the buying and selling of used Jewelery..until next year end holiday season..
The question now facing analysts is how high will gold go? With gold reaching for the $1,250-an-ounce level, many investors might take profits and move into cash. :[[User:Terry|wowowow|]] 23:32, 12 May 2010 (SGT)
[edit] deflation
Nadler likens the event to someone piercing a balloon with a pin and expecting a "slow, orderly deflation."
But it's premature to call the "burst of the commodities bubble," because prices have only been declining for a few days, said George Milling-Stanley, a director at the World Gold Council.
Gold has merely "backed away" from a historic high set earlier this year, he said. Prices climbed past $1,000 an ounce in March. A year ago, prices traded at just $670.
"The events of a few days, or even a few months, do not necessarily undo what is so far an event that has been going on for seven years," said Milling-Stanley. Analysts have said the current gold bull market began in 2001. "A bull market can stand a correction of 30% in the price from time to time and still remain intact," Milling-Stanley said. Nadler said there's really a "sea-change in attitudes" going on. Attitudes toward the dollar and oil, attitudes on the part of the consumer and about the global economy and the U.S. contagion spreading -- "they are all undergoing shifts of an order of magnitude that we have not seen for half a decade," he said. It's "no wonder that investment postures and asset reallocation are also undergoing a significant transformation."
Even so, Nadler said he remains a "strong advocate of a core insurance position in gold bullion. Trouble, it seems, is always but one headline away from undoing the best-laid plans."
Dollar trigger
For gold, the dollar as well as declines in oil and other commodities has been key to the steep drop from never-before-seen levels above $1,000 in March. "This collapse in gold has caught the gold bugs wholly off guard," said Dennis Gartman, editor of the Gartman Letter. 'One gets the sense that the long-only funds have had it 'up to here' with owning commodities -- and they want out.'— Dennis Gartman, Gartman Letter
[edit] cURRENT Gold prices hit 1-year low on stronger dollar
- read about it..[[2]]
"Crude and grains have collapsed, and gold is simply following to the downside," he said. "There is the dollar's strength too, but one gets the sense that the long-only funds have had it 'up to here' with owning commodities -- and they want out."
I've been buying gold with some of my savings ever since it became legal for Americans to once again own gold in the early '70s. Now I own quite a bit. For me, gold is not an investment to be bought and sold like stocks, bonds, and options, but a m...
- headscratcher
[edit] gOLD PRICE MANIPULATION AND ??
30TH jANUARY 2009..
Gold prices turned a 2% overnight loss into a 2% daytime gain on Thursday. After having reached a low of $870.90 in the wee hours, the metal recaptured the $900 mark with relative ease, as swooning equity markets and more bank-related jitters sent buyers its way. Bullion vaulted above the $900 level once again, as the US measures to stimulate the economy were perceived as yielding inflation down the road, and as jobless and home sales numbers aggravated the angst among investors everywhere
- sources[[3]]
[edit] wHAT'S THE FORCE BEHIND THE DRIVE UP IN GOLD PRICES?
HERE IS THE ANSWER>>[[4]]
On 6 March 1933, soon after he took office, President Roosevelt declared a nationwide bank moratorium for four days to stop heavy withdrawals and forbade banks to pay out gold or to export it. On 5 April the president ordered all gold coins and gold certificates in hoards of more than a hundred dollars turned in for other money. The government took in $300 million of gold coin and $470 million of gold certificates by 10 May.1933
After World War II, a modified version of the gold standard monetary system, the Bretton Woods monetary system, was created as its successor. This successor system was initially successful, but because it also depended heavily on gold reserves, it was abandoned in 1971 when U.S president Nixon "closed the gold window".
[edit] why USA seldom sell its gold hoard at Fort Knox?
The sale could make a small dent in the $12.1 trillion national debt and, with the price of gold near its all-time high, this is a particularly good time to sell...[[5]]
[edit] see news online
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