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« US Dollar: Bear Rally Due? | Main | Silverado Gold Mines Ltd: Outstanding shorts! »
Friday
Nov022007

Gold closes at $806: Great!

Going into the weekend just couldn’t be better with gold gaining $15.80 today. A quarter point rate cut, oil pushing towards a $100/barrel, money being printed as the medicine for all financial ills and the credit crunch not over yet.

Gold’s little brother, silver also chipped in with a gain of $0.30 taking silver to $14.53 for a 2% move in one day.

Over to the HUI Chart:

HUI Chart 02nov07

No stopping the HUI despite the technical indicators being high as gold and silver go from strength to strength.

Talking of credit there was an interesting comment from Henk Potts of Barclays Wealth on British radio this morning when he mentioned the amount of money the government had put into Northern Rock, rumoured to be about £25 billion, which he said worked out at £700.00 for every tax payer in the country. The mind boggles let’s hope that there are not too many more of these yet to surface.

Have a sparkling weekend!

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Reader Comments (8)

And now it seems that HUI and XAU may be forming a nice rising price channel, trending upward. As overbought as things seem, they still at this price are not as overbought as they showed in late September. I am no longer selling at the tops, but I will continue to add at bottoms if volume down is light. Happy trading all, and thanks for the charts Gold~prices.biz!!

November 3, 2007 | Unregistered CommenterRobert

i was wondering why you don,t put the stock symbol beside all the companies you list. it would be very helpful. thanks

November 3, 2007 | Unregistered Commenteral malin

Hello Al, Most of the stocks mentioned on this site have a chart , and if you were referring to the charts shown on this site..the stock symbol is in the upper left hand side of the chart , like the chart above HUI. If you mean stocks found in the HUI index, they can be found on a web site called KITCO.com...click on the index HUI. hope this helps ( I realize that you may not have been talking to me , but I was hoping to help-)

November 4, 2007 | Unregistered CommenterRobert

Robert, Many thanks - teamwork is a great help to us.

November 4, 2007 | Unregistered CommenterGold Prices

Hi Robert
Thanks for all the info that you provide
I'm a recent subscriber and find your input very insightful
I was wondering how can I access the list of securities that you have in your portfolio
Regards
Alan

November 4, 2007 | Unregistered Commenteralan fine

Alan,

On the right hand side of this page, just under the chart there is a section called Categories and in there you will see a heading called Gold Portfolio. This contains our portfolio, which we try and update about every four weeks. We dont intend to own 100s of stocks as we find it impossible to keep a track on them, but it will probably grow from where it is now.

Hope this helps.

November 4, 2007 | Unregistered CommenterGold Prices

Hi, any one know were I can get more info on Royal Gold (RGLD). Its plummeting and I'm wondering why (always the last to know...)
Thanks

November 5, 2007 | Unregistered CommenterCharles

gold should be at over a 1000 an ounce correction my ass you all must be with the stinken banks trying to hold it down we are at almost at 100 dollars oil price........

November 20, 2007 | Unregistered Commentergold price

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