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Thursday
Sep042014

Goldman Sachs: Gold will drop $200 by end of year

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery on Thursday continued to drift lower, trading at a near 3-month low.

In afternoon trade gold was changing hands for $1,266.00 an ounce, down more than $4 an ounce compared to yesterday's closing price.

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Tuesday
Sep022014

Will Gold Still Go to $5000?


Yes – to answer a lot of questions. We still see the future rally in gold reaching the $5,000 level. Keep in mind this requires an asset rally. Those who tout the German Hyperinflation omit the fact that ALL tangible assets rose not only gold and the replacement currency people accepted was backed by real estate not gold. So the rally in gold will be part of an asset rally – not gold by itself, which has never taken place even once in history.

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Tuesday
Sep022014

SKOT Makes 49.40% in 7 Days Trading SPY Call Options

On 18th August, stocks were well off their highs and headlines were riddled with concerns about Europe and the Ukraine. We bought March 2015 calls on the S&P 500 ETF SPY, with a strike price of $215 for $0.83.

Just 7 days later the stock market had soared to new highs and we sold the calls at $1.24, banking a profit of 49.40%!

Through careful timing and analysis of both the fundamental and technical factors at play, we were able identify what we believed was a prime trading opportunity where the risk reward dynamics were strongly in our favour.

In our update sent to the subscribers of SK OptionTrader that week we said;

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Monday
Sep012014

Gold: The thin end of the wedge

Background

Gold had a horrendous year in 2013 disappointing many of its supporters; however, 2014 started brightly bringing with it much hope for an attempt at achieving new record highs. Gold prices moved quickly from the $1200/oz level to flirt with $1400/oz by mid-March. The summer brought some confusion with gold rallying and falling without much in the way of conviction in either direction. As optimists we can argue that the summer doldrums arrived to take the steam out of the market and that better times lie ahead. The pessimists suggest that gold is struggling to gain some traction and will head lower in the near future, so we will take a brief look at some of the factors that affect gold’s movements.

Factors for consideration regarding the purchase gold: 

Back in June 2006 we

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Sunday
Aug312014

Gold at $2000?

QUESTION: Marty, do you think it is even possible for gold to close at $2,000 by year-end? This just seems to be the same story over and over again.

Thanks

SK

ANSWER: Sorry, no. Here is a chart of gold back to 1264. There is not even a pattern like that, which has EVER taken place. I am really at a loss why gold analysts keep proclaiming the same thing costing people their life savings.

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Thursday
Aug282014

German Finance Minister Tells EU Leaders: Free Money Party's Over

 

Angela Merkel

Has Germany had enough? Hot on the heels of Mario Draghi's 'demands' that EU leaders undertake "structural reforms" to boost competitiveness and overcome the legacy of Europe's debt crisis, German Finance Minister Wolfgang Schaeuble unleashed perhaps the most worrisome statement tonight for all the free-money-party-goers - the music is about to stop. In an interview with Bloomberg TV, Schaeuble blasted "Europe needs to find ways to foster growth,"

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Wednesday
Aug272014

Gold Shines Most in September on Seasonal Buys

By Nicholas Larkin

Gold investors hurting from prices within 1 percent of a two-month low can find solace from history showing the metal tends to perform best in September.

The CHART OF THE DAY shows bullion averaged gains of 3 percent each September over the past 20 years, beating next-best month November, when prices rose an average 1.8 percent. Gold reached $1,273.14 an ounce on Aug. 21, the lowest since June 18.

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Tuesday
Aug262014

Portugal: A(nother) Central Bank Story

Portugal: A(nother) Central Bank Story

By Hard Assets Alliance Team

By Shane Obata, Special Correspondent to the Hard Assets Alliance

The Greenspan put, the Bernanke put, the Yellen put, the Draghi put?

Easy money causes people to take risks that they otherwise wouldn’t. And the result is always the same—a boom followed by a bust. Will the retail investor ever learn? Probably—but it won’t last because the emotions of greed and fear are too strong.

Yes, there have been improvements in the global economy since the financial crisis. That said, the devil is in the details. Artificially low interest rates have been okay for the global economy and great for asset prices. But structural problems such as youth unemployment, corruption and fraud, a high cost of living and high taxes, aging populations, and excess debt still remain.

We can’t paper over these problems. If they’re not dealt with, then they’ll persist—and they might get worse.

As a result of central bank policies, saving your money no longer pays off. Interest rates are so low that it’s hard to rationalize leaving your money in a bank. To compensate for this, investors are buying all kinds of junk securities, such as government bonds issued by the PIIGS.

Today we’re going to take a look at Portugal specifically.

If people are buying its bonds, does that mean they’re optimistic about its future potential? Not necessarily. What it means is that they’re confident they’ll get their money back—regardless of the fundamentals.


Debt and Rates

Portugal’s total government debt outstanding fell from 2011 to October 1, 2013; however, debt as a percentage of GDP is still rising and has now reached 129%.

Even though it seems that the government’s financial health is deteriorating, the chart below shows that demand for Portuguese bonds sent rates down from over 18% in late January 2012 to less than 4% on August 11, 2014.

 


Click image to enlarge

 

Investors want to buy Portuguese bonds, but it seems like a dangerous bet.

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Monday
Aug252014

Will There Be a ‘New Gold Rush?’ -- Ian Gordon, Longwave Analytics

Henry Bonner

Ian Gordon created Longwave Analytics, which studies the Longwave principle, by which economies obey long-term cyclical trends of expansion and contraction. Eric Sprott is an avid reader -- he suggested I interview Ian Gordon for his take on the role of Kondratiev’s ‘long wave cycle’ in explaining the economic environment we are seeing today.

Ian said ‘winter’ was coming for the world economy,

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Monday
Aug252014

India hikes mining royalty

Meantime, miners struggle to pass on the higher cost of business with the government going for a bigger slice of the pie during a tough time for the industry.

Author: Shivom Seth
Posted: Monday , 25 Aug 2014 

MUMBAI (MINEWEB) - 


The Indian government has approved the hike in royalty rates of at least 10 minerals, which will enrich the exchequer of states by over $1.9 billion (Rs 120 billion).

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