Bernanke and the Gold Rally
December 8, 2009 By Leave a Comment
Gold prices are in retreat – their steepest two-day decline since March – on the announcement by Fed Chairman Ben Bernanke that inflation “appears likely to remain subdued for some time.” [Read more...]
Gold Buying Opportunity
November 19, 2009 By Leave a Comment
Gold Dip "Offers Buying Opportunity" as Zero Rates Seen Until End-2010
London Gold Market Report
THE PRICE OF GOLD slipped early Thursday in London, losing almost 2% from yesterday's new Dollar record as global stock markets also fell despite a report from the OECD which doubled 2010 growth forecasts for the world's richest economies.
The US Dollar rose sharply on the forex market, but the drop in gold outpaced the drop in non-Dollar currencies, helping the gold price in Sterling retreat 1.1% from Wednesday's 9-month highs. [Read more...]
Gold vs. Fiat Currency
November 17, 2009 By Leave a Comment
Gold in the Face of the Fiat Fallout
Gold hit a new record yesterday. The price rose $22.50 to $1,139.
And today we take up a foul and disagreeable task. We ask ourselves: what if we are wrong?
If you bought gold when we first recommended it, ten years ago, you are in a very comfortable position. Gold sells for more than 4 times as much today. But what should you do now? And what if you didn’t go for broke on gold in the early ’00s? Is it too late to get in on the bull market? [Read more...]
Gold Keeps Climbing Higher
November 16, 2009 By Leave a Comment
Gold Is Busting Out All Over
The gold stocks caught on fire over the past fortnight. They have lagged behind the metal in relative strength, but, since they are more volatile than the metal, bigger profits are the result. For example, gold is well above its early September levels, but the XAU and the HUI have only broken above their corresponding levels just last week.
Measuring from May 22, 2009, when I last resumed a full bullish-gold position, the metal is up 16.5%. My Model Conservative portfolio is up 33.6%. The further back you start, the prettier it gets. For example, starting with the beginning of the grand cycle gold bull market (early 2001), the price of gold has multiplied by 4.4 times. The HUI has multiplied by 12.4 times. Pretty it is, and pretty it will continue. During the same time period the S&P is down 7%.
Yet all I hear from the establishment is the same mantra: “Buy stocks. Stocks must go up. They always have. Don’t buy gold. Gold is a collectable.” Sad, very sad. Beating these people is like taking candy from a baby. [Read more...]
Randgold Resources: Fast Track Mali Project
November 10, 2009 By Leave a Comment
Reports rising costs but a swing to profit in Q3
LONDON (Reuters) -
Gold miner Randgold Resources (RRS.L) swung into a profit in the third quarter as higher gold sales outweighed rising costs.
It also said on Tuesday it will fast-track its Gounkoto project in Mali and plans to complete a pre-feasibility study on the project, situated 25 kilometres south of the company's flagship Loulo complex, by the end of the first quarter of 2010.
The only pure gold producer in the FTSE 100 index said it moved into a profit of $13.6 million from a loss of $684,000 a year ago. [Read more...]
IMF: US Dollar “Still Over-Valued”
November 9, 2009 By Leave a Comment
Gold Makes It 3 Records in 4 Days
THE PRICE OF GOLD jumped to new all-time Dollar records for the third time in four trading days early Monday in London, trading above $1110 an ounce – up more than 27% for 2009 to date – as the US currency fell hard on the forex market.
World stocks added 0.4% on the MSCI index to continue their four-month surge after Sunday's meeting of G20 political leaders in Scotland vowed to "continue to provide support for the economy until the recovery is assured." [Read more...]
Gold: Poised to Make a Move to the Upside
November 2, 2009 By Leave a Comment
After pulling back from recent highs, the price is expected to make an assault on $1100 shortly
JOHANNESBURG -
Even though the gold price has pulled back from its recent highs and is see-sawing between $1020 and $1060, I believe that the price of the yellow metal is poised to make a move to upside and hit the $1100 level shortly. [Read more...]
U.S. Dollar Vs Gold
October 30, 2009 By Leave a Comment
An Interview with Blackmont Metals and Mining Analyst Richard Gray
It's been a dollar vs. gold story ever since the economy ran into trouble last fall, according to Blackmont Metals and Mining Analyst Richard Gray, who sees inevitable inflation down the road. "The trouble is there are no real applicable precedents we can use," he explains, noting the prodigious amount of stimulus money flooding the economy. In this exclusive interview with The Gold Report, Richard discusses major drivers behind gold's price rise, attributes of successful juniors and why he thinks gold's upside scenario is "maybe $1,100 or $1,200." [Read more...]