Gold and Silver

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Jahbulon
Posts: 3901
Joined: Wed Nov 17, 2010 1:22 pm

Gold and Silver

Post by Jahbulon »

From today’s Investor Business Daily

Gold ETFs Likely To Lose More Luster: Analysts

By TRANG HO, INVESTOR'S BUSINESS DAILY Posted 12/12/2011 06:29 PM ET

A sudden dollar rally and broad stock market sell-off tarnished the appeal of gold and silver ETFs Monday amid fears European Union leaders haven't done enough to contain the region's debt crisis.

SPDR Gold Shares (GLD) and iShares Silver Trust (SLV) both slipped about 3%. In the futures market, gold prices fell to $1,664 an ounce — booking their biggest one-day drop in three months. Silver futures fell 3.3% to $31 an ounce.

PowerShares DB U.S. Dollar Index Bullish (UUP) gapped up 1%.
Institutional investors are liquidating their gold positions to raise cash, primarily U.S. dollars, explained gold experts.

"A liquidity squeeze means banks and brokerages are scrambling for currency right now to meet demand," said David Morgan, publisher of the Morgan Report, which specializes in gold and silver. "As much as gold is the ultimate currency, it is not used for final settlement now. Therefore, cash will be king for the intermediate term, and gold could fall even further on a temporary basis."

Adam Grimes, chief investment officer of Waverly Advisors in Corning, N.Y., sees GLD trading in a bearish trend for the next two to four months and falling to its January high of $140 a share, down 13.5% from Monday's price.

"Gold is trading as a risk asset. It may as well be soybeans, cocoa or equities," Grimes said. "People are making trading decisions with the same knee-jerk reaction like any other equity."

"Inflation levels have been contracting in China and the developing world. That might affect how people see gold as an inflationary hedge," Grimes added. The bearish development in gold prompted Dennis Gartman, publisher of the Gartman Letter, to cut his position. Gold's chart has fallen through an upward-sloping trend line, he wrote in Monday's newsletter.

Peter Spina, president of GoldSeek.com, believes that gold will trade in a sideways, volatile manner in the short term and eventually resume its uptrend.
"Gold is the optimal place to be during a banking-monetary-financial crisis, where the decision makers' only tool left is more and more liquidity, which will eventually wipe out great value of the euro and the U.S. dollar.

"These actions are overwhelmingly bullish for gold and silver prices, and once a clearer path on how the additional liquidity will be structured, the markets will calm and the precious metals will fly," Spina added. "This could be another month-or-so process, but I do not believe this sideways market is going to last for too long. I view these pullbacks as excellent investment and trading opportunities."

crondanet5
Posts: 4330
Joined: Tue Aug 19, 2008 8:51 pm

Re: Gold and Silver

Post by crondanet5 »

Actually there was a discussion on Fast Money about someone attempting to lower the price of gold with a large sell order that took the price of gold down. The panel consensus was that gold was going higher. See also Jesses American Cafe.

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flight23
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Re: Gold and Silver

Post by flight23 »

My opinion is gold will drop first, particularly if we truly have a market crash, due to margin calls and needing to sell valuable assets etc. After that we will have a large rapid rise in gold and commodities like no one has ever seen as countries around the world lose faith in paper currency and begin massive devaluations.
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isalihi
Posts: 12
Joined: Sun May 15, 2016 1:29 pm

Re: Gold and Silver

Post by isalihi »

Central Banks, China, Russia, are buying gold like crazy. The economy is NOT doing as well as the FED would like you to think.

Gold thrives in global uncertainty - think Brexit, a looming Trump presidency?

When gold takes off, everybody's going to wish they had some... but will it be too late!?

And of course, our TSP gives no Gold options!

http://tspreport.regalassets.com?campaign_id=2365

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Fund Prices2024-03-28

FundPriceDayYTD
G $18.15 0.05% 1.05%
F $19.08 -0.06% -0.74%
C $82.21 0.11% 10.55%
S $82.43 0.30% 6.92%
I $42.57 -0.24% 5.95%
L2065 $16.38 0.02% 8.37%
L2060 $16.39 0.02% 8.38%
L2055 $16.39 0.02% 8.38%
L2050 $32.73 0.01% 6.95%
L2045 $14.91 0.02% 6.58%
L2040 $54.38 0.02% 6.22%
L2035 $14.34 0.02% 5.79%
L2030 $47.67 0.02% 5.38%
L2025 $13.15 0.03% 3.43%
Linc $25.61 0.03% 2.82%

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