10
Mar
2009

Gold Investments Market Update

After the bounce in recent days, gold sold off again yesterday and was down 2.77% (silver -3.2%). After the falls seen in the last two weeks a period of consolidation will be needed and gold may fall further prior to rising strongly above the psychological and technical level of $1,000/oz.

With $50 trillion having been wiped off the value of assets internationally (primarily property and equities) there will likely be a long term shift towards risk aversion and wealth preservation.

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09
Mar
2009

Gold Investments Market Update

Gold’s recent downward trend may have ended last week after gold closed moderately higher for the week (gold +0.03% and silver +1.75%). The performance was impressive considering the continuing steep declines in stock markets (Nasdaq , DJIA, S&P down 6.1%, 6.17% and 7.03% respectively).

Gold’s outlook remains extremely positive especially as big money interests are once again realizing the safe haven attributes of the yellow metal.

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06
Mar
2009

Gold Investments Market Update

As expected gold bounced yesterday after its recent sharp falls. Gold’s lack of correlation with equities (gold has occasional very short term correlation with equities) was seen again as gold and silver were up some 2% while major US indices were down by some 4%.

Citigroup, once the world’s largest bank, fell below $1 per share and General Motors is struggling to avoid bankruptcy.

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05
Mar
2009

Gold Investments Market Update

Gold fell for the eighth straight session yesterday to have the longest losing streak since June 2006 (silver broke its losing streak). Gold is clearly oversold in the short term and due a bounce.

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04
Mar
2009

Gold Investments Market Update

Gold fell for the seventh straight day yesterday and is now down nearly 9% from its recent high just above $1,000/oz – see chart below).

Gold had become overbought in the short term and had risen over 24% in just over a month ($806/oz on January 14th to over $1,000/oz on February 20th ).

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03
Mar
2009

Gold Investments Market Update

Asian stock markets followed their US counterparts in falling overnight and after an initial rally in Europe, indices are again under pressure (especially the FTSE which is down another 1.8%).

Gold has fallen as well but not by as much as most equity indices. While US indices were down between 4% and 5% yesterday, gold was only down by $3.00 to $938.80/oz.

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03
Mar
2009

$35 Silver in 2 Years

Here is a Yahoo video where TSC’s Debra Borchardt takes a look at the silver market and where it might go.

Everyone agrees that gold is on a long term rally with occasional pullbacks; but what about silver?

 

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02
Mar
2009

Gold Investments Market Update – Oracle of Omaha Warns of “Onslaught of Inflation”

Gold rose sharply in Asia and was up by more than $10 per ounce before trading even commenced on the TOCOM – it rose from $941.60/oz to nearly $960/oz but has given up some of those gains in early trading in London and is now trading back at $950/oz.

Gold and silver fell over 5% and 9% last week after surging in the previous weeks and remain up nearly 8% and 17% so far in 2009. In the short term anything can happen in all of these markets and volatility remains very high in all markets. Correction and consolidation was expected and warned of.

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27
Feb
2009

Gold Investments Market Update – Gold at $1,200/oz Likely as Central Bank Supply Dwindles on Fear of Contagion

Gold’s correction continues and it has fallen for four days in a row now but the long term fundamentals remain very sound.

Bargain hunters are likely to reemerge at these levels which should be supportive.

Gold remains up more than 7% so far this year (in dollar terms as per table and much more in euro and sterling) and continues to significantly outperform battered stock markets.

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25
Feb
2009

Gold Investments Market Update – Gold Production in South Africa Plummets 13.6% to Levels Last Seen in 1922

Gold fell yesterday on profit taking and ended the day down 2.3% at $969.25/oz (silver fell by 3.1% to $13.98/oz).

A short term correction was expected and warned of and this correction was necessary after gold becoming overbought in the short term. Gold had rallied over $100 (from $890/oz on February 9th to just over $1,000/oz on February 20th) or some 12% in less than two weeks.

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