All Posts Tagged With: "Gold Prices"
Gold Endures Frightful Selloff
Gold was strong from the far East through the first half of London on Friday, but it started down with the COMEX open, then really fell off a cliff at the noon hour, falling $60 in the next two hours, before rallying back a bit during the Globex to finish at $849.90, down $62.50. Despite the wretched day, gold was up nearly 2% on the week.
Government Rescues Will Trigger a Bull Market in Gold
It looks like we’re going to be graced by a “joint response” to the financial crisis by the G7 leaders.
Paul Tustain says it was government action — slashing interest rates — that caused the crisis. Now they tell us slashing rates further and nationalizing banks is the way to ‘fix’ the economy.
This ‘fix’ will and lead to a protracted period of underperforming stocks and bonds… and create the perfect conditions for a bull market in gold.
When Things Look Bleak the Dollar Goes Up
It doesn’t look as though it will be a Fantastico Friday in stocks. Yesterday was a bloodletting, overnight the Japanese stock market sold off 11%, and Europe is down about 9% at this point. UGH! But according to Chuck Butler, “When things look bleak, the dollar goes up… And when it looks as though all the stimulus might work, the dollar sells off…”
J. Cristoph Amberger Says Buy Ford, Alon, GE, GM and GM Now
Today, the Dow dropped below 8,000 for the first time since March 2003.
This is great news for investors, says J. Cristoph Amberger. “History has proven time and time again that the seeds of wealth are sown during market crises… by buying good companies at crash valuations.”
He recommends investors buy shares of Ford Motors (NYSE:F), Alon (NYSE:ALJ), Stewart Enterprises (NASDAQ:STEI), General Electric (NYSE:GE), General Motors (NYSE:GM) and General Mills (NYSE: GIS) now.
Resource Stock Roundup Thursday, October 9, 2008
The unified interest rate cuts that included a 0.5% reduction in Canada did little to bolster investor confidence early on, but a binge of late day buying propelled the big board into the black by the close of Wednesday trading on the Canadian Markets.
This Could Be Your Last Chance to Buy Gold Below $1,000
After peaking at over $1,000 an ounce in March, gold fell as low as $750 in September. Yesterday, an ounce touched $911 an ounce in New York.
Jeff Clark says this could be the buying opportunity of a lifetime. The Fed and US Treasury are flooding financial markets with trillions of dollars. This will eventually send inflation soaring and the greenback into a nosedive. And that’s when gold prices will skyrocket.
If gold returns to its 1980 inflation-adjusted level, it could mean a spot price upwards of $5,000 by 2012.
Gold Gains, Breaking $900, Platinum Falling Toward Parity
Gold was sharply higher in the far East on Wednesday, pushing past $900, but then got stuck in a range between there and $920 straight through the Globex, seesawing back and forth and finally finishing at $906.10, up $19.00. Overnight, gold is sharply lower.
2 Bear Market Survial Tips: Ignore Your Emotions, Buy Gold
Daily Reckoning editor Bill Bonner says irrational investment decisions are driven by two emotions: fear and greed. For the last few years, greed has dominated financial markets. But times have changed. Panic is sweeping the markets. Fear is now in control. Bill says fear is every investor’s worst enemy. And gold should be every investor’s best friend.
3 Assets You Need to Own Now: Gold, Cash and Reverse ETFs
Governments and central banks around the world are engaged in a fierce battle with asset price deflation. As Byon King says, “It’s like Napoleon’s retreat from Moscow. There’s no relief from the suffering.”
Eric Roseman says the Fed will eventually triumph over deflation with by a massive expansion of credit.
In the meantime, he recommends a defensive portfolio weighting: 50% cash, 10% gold, and 20% in reverse ETFs, such as Short Dow30 ProShares (AMEX:DOG) or Short S&P500 ProShares (AMEX:SH).
Why ‘Paper’ Gold Prices Could Double in the Near Future
Gold futures closed at $906 an ounce today. The shiny metal has risen $73 in the last three trading sessions as worried investors return to the ultimate safe haven.
But this price only reflects the ‘paper price’ of gold, says Dave Gonigam. Holding the actual metal is much more difficult — and much more costly.
Dave says the “yawning chasm” between the paper and physical price of gold means something will snap soon. This could mean the paper price doubles in rapid fashion.
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