24
Jul
2008

Gold Investments Market Update – Gold Nearing Traditional Summer Lows Prior to Rallying Strongly into Autumn – Important Charts

Gold

Gold finished trading in New York yesterday at $922.70, down $25.50 and silver was down 55 cents to $17.38.

Gold has rallied in Asia and in early European trading with bargain hunting buying. Traders and investors with more medium to long term horizons realise that the speed and depth of the sell off is overdone. Especially as none of the fundamental macroeconomic or geopolitical issues have disappeared or even abated.

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23
Jul
2008

Gold Investments Market Update – U.S. Bankruptcy To Become A Foregone Conclusion?

Gold

Gold finished trading in New York yesterday at $948.20, down $15.20 and silver was down 44 cents to 17.93. Gold continued to fall in Asia and in early European trading it is down by nearly 1.3%.

Gold was due a correction after its recent surge in price and remains up some 6% in the last month (from $882 to $935) unlike oil and the majority of stock markets (which are down by similar amounts).

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22
Jul
2008

Gold Investments Market Update – Gold Analysts Revise Up Gold Price Forecasts

Gold

Gold finished trading in New York yesterday at $963.40, up $7.00 and silver was up 25 cents to $18.37. Gold traded sideways to slightly up in Asia before rising in early European trading by nearly 1%.

Gold remained firm and the dollar was under steady selling pressure for much of the day yesterday and remained so overnight as markets reacted to a bounce in oil prices and a raft of dismal earnings reports from a number of leading U.S.

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21
Jul
2008

Gold Investments Market Update – Deflationary Recession/Depression Versus Inflationary Recession/Depression?

Gold

Gold finished trading in New York on Friday at $956.40, down $12.70 and silver fell 53 cents to 18.12. Gold traded sideways to slightly up in Asia before rising in early European trading by nearly 1%.

Despite the very sharp fall in oil prices and other commodities last week, gold only fell by 0.2%. Silver was down by 3%. August Crude fell by more than 11% – it fell $16.34 from over $145 to $128.74. And Prudent Bear’s Doug Noland points out that August Gasoline sank 11.5% (up 27.8% y-t-d), and August Natural Gas dropped 10.2% (up 42.9% y-t-d).

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18
Jul
2008

Gold Investments Market Update – George Soros Goes Long Gold

Gold

Gold finished trading in New York yesterday at $957.00, down $4.00. Gold traded sideways and rose in Asia before rising in early European trading and then falling again and is now down 0.15% for the day.

Equity markets have bounced on what is likely to be another short term correction on massive short covering.

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18
Jul
2008

How to cure a ‘Mental Recession’

Matt Bors

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17
Jul
2008

It’s Not Your Grandfather’s Bank Run … Yet

From Wikipedia:


Bank runs first appeared as part of cycles of credit expansion and its subsequent contraction. In the 16th century onwards, English goldsmiths issuing promissory notes suffered severe failures due to bad harvests plummeting parts of the country into famine and unrest.

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16
Jul
2008

Gold Investments Market Update – Alan Greenspan: “Gold still represents the ultimate form of payment in the world”

Gold

Gold finished trading in New York yesterday at $977.10, up $5.00 and silver was down to $18.92, down 27 cents. Gold fell in Asia before rising in early European trading.

Gold rallied strongly in early trading yesterday on higher oil, a lower dollar and increasing macroeconomic and systemic risk prior to the sharp fall in oil prices (some $10 in a short period of time) which led to a selloff in precious metals. Despite the sharp selloff in oil, gold again remained resilient and finished some 0.5% higher in New York.

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15
Jul
2008

Gold Investments Market Update – Sir John Major Says Government Inflation is Massively Underestimated – Real Inflation of Some 10%

Gold

Gold finished trading in New York yesterday at $972.10, up $12.00 and silver was up to $19.15, up 38 cents. Gold rose in trading in Asia before further rises in early European trading. Gold is now up some 7% in the last 5 trading days (from below $920 to over $983) and in normal circumstances one would expect a correction and consolidation. However, these are not normal circumstances.

Gold has rallied again on dollar weakness, oil strength and safe haven demand due to macroeconomic and systemic risk.

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14
Jul
2008

Gold Investments Market Update – Trillion Dollar Bailouts Will Likely Cripple U.S. Budget and Imperil the Dollar

Gold

Gold finished trading in New York on Friday at $959.10, up $18.90 and silver was up to $18.72, up 48 cents. Gold rose in trading in Asia before selling off in early European trading on profit taking due to falling oil prices and a rising dollar this morning.

Both gold and silver were up nearly 3% last week on inflation hedging and safe haven buying and profit taking is to be expected. Gold and silver were up nearly 3% for the week and yet the dollar was only down some 1% and oil was essentially flat after a very volatile week.

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