Investors in gold are demanding “unprecedented” amounts of bullion bars and coins and moving them into their own vaults as fears about the health of the global financial system deepen. Industry executives and bankers at the London Bullion Market Association annual meeting said the extent of the move into physical gold was unseen and driven by the very rich.
Continue reading: Wealthy Investors Hoard Bullion
After four months of a resilient uptrend in the Gold market, it appears traders are beginning to feel the pressure to take profits. I believe Gold traders are keeping a close eye on the recent turmoil in the Stock Market and it brings back memories of the mass Metals liquidation to cover margins in their Stock portfolios. Despite a very weak U.S. Dollar, Geopolitical tension, and the signs of a weakening economy, it is my belief the gold trading community is content to take profits. After all, the Holiday markets are just around the corner.
Much has been made recently about gold's use as a hedge against poor stock market returns. Unfortunately, this strategy has some holes in it. While it is true that gold tends to perform in the opposite direction as stocks during secular markets, it tends to perform similarly to stocks during shorter cyclical time periods.
U.S. Global Investors Resources and Gold Funds Win 2007 Lipper Fund Awards
SAN ANTONIO--(BUSINESS WIRE)--The World Precious Minerals Fund, managed by U.S. Global Investors Inc. (Nasdaq:GROW), is the 2007 winner of the Lipper Fund Award in the Best Gold-Oriented Fund category.
by Joel Teo
Silver is a wonderful way to put your money in precious metals. This investment does not demand loads of money and you can get the strength and steadiness that comes along with precious metals. With technological advances you can now opt for online trading of metals.
Continue reading "Why Silver May Be A Golden Investment For 2007" »
By Jon A. Nones
St. LOUIS (ResourceInvestor.com) -- An esteemed group of eminent persons, including former Fed Chairman Alan Greenspan and current President of the European Central Bank Claude Trichet, has recommended that the International Monetary Fund (IMF) sell up to 400 tonnes of gold as means to finance ongoing costs.
Continue reading "International Monetary Fund Told to Sell Gold" »
Many investors in commodities use ratios to determine if one resource is incorrectly valued as compared to another. These relationships, based on historical prices, can often give us vital information on oil vs. natural gas, corn vs. soybeans, and especially gold vs. silver. While certainly not the most important factor in determining the possible returns in a commodity, these ratios can help guide our analysis.
Metals continue the bull run. We expect to see $700 on gold in the very near future. Geopolitical and world economic events coupled with the normal supply and demand equation have this market poised to make a run at the infamous Hunt Brothers high back in the early 80’s.
By Ambrose Evans-Pritchard
The world's big money brigade is snapping up gold bullion at eight times the rate originally thought, according to a report by UBS, the world's biggest gold trader.
The huge sums entering precious metals below the radar are likely to help to put a floor under the gold price after the dramatic fall of $112 an ounce in late May - the sharpest correction since the bull market began five years ago.
Continue reading "Russia leading global 'stealth demand' for gold" »
Financial experts agree that high oil prices will continue to propel the gold bull market to record-high levels, positioning gold coins as a secure and lucrative investment despite a weak U.S. equities market.
(PRWEB) May 23, 2006 -- By triggering inflation and consecutive interest rate hikes, record-high oil prices have created ideal economic conditions for the gold bull market, boosting gold to its highest price in 25 years at $700 per ounce.
Continue reading "Rising Oil Prices Propel The Gold Bull Market to Historical Highs" »
Asia drives rally; platinum at 26-year high; palladium hits a 17-month mark, gold and silver follow.
NEW YORK (Reuters) - New York platinum futures stormed to a new 26-year high Thursday morning on the third day of speculative and trade buying, while palladium hit a 17-month peak and gold and silver reached 10-day highs.
Dealers said the broad rally in the precious metals was fueled by buying in Asia this week, which spilled over to European and New York sessions amid expectations that growing commercial demand for platinum group metals would keep prices climbing.
Continue reading "Isn't that precious? Platinum hits high" »
By Rhona O'Connell -
LONDON (Mineweb.com) -- Dubai is continuing its relentless march into the centre of the bullion market, with plans to start futures trading in the precious metals and other innovations proving successful.
Dubai is rightly known as the hub of the physical gold market, feeding both to the Indian sub-Continent and to the Middle East, which on average over the past ten years have accounted for 38% of gold fabrication and in 2004 accounted for 43% of total (GFMS figures). We have written before about the development of the Dubai Metals and Commodity Centre and its proactive behaviour towards the gold market with the latest development being the establishment of futures trading. The organisation now reports that the response has been overwhelming with the team working overtime to review and accept applications.
Continue reading "Dubai still enhancing its gold market position" »
TORONTO, June 30 /CNW/ - A study prepared for Bullion Marketing Services
Inc. by Ibbotson Associates has determined that the addition of precious
metals bullion to a portfolio of traditional asset classes enhanced
diversification and improved the reward-to-risk ratio in conservative,
moderate and aggressive asset allocations.
Continue reading "Ibbotson study determines diversification benefits of precious metals bullion" »
By C.L. Jose -
Dubai: The Dubai Gold and Commodities Exchange (DGCX), which is expected to go live this year, will float a fully owned subsidiary to carry out the settlement of trades on the exchange.
David Rutledge, chief executive officer of the Dubai Metals and Commodities Centre (DMCC), said the new clearing house being established by DGCX will be adequately capitalised.
Continue reading "Glittering future predicted for Dubai gold exchange" »
By Tim Wood -
NEW YORK (ResourceInvestor.com) -- The ratio of oil-to-gold prices spiked to a 29-year peak in March reflecting the persistent divergence in the fortunes of the two resources. The ratio has been steadily ascending since September 2003 with only a brief interruption last November, and reached an all-time daily high of 0.135 on 4 April when oil prices topped $57 a barrel whilst the gold price fell below $424 per ounce.
In real terms oil is the most expensive it has been since January 1983 at $50/bbl. Gold continues bump up against the a constant 2000 dollar ceiling of $400/oz which it achieved last August, which was the best showing since the same month in 1996. Indeed, gold has been entirely subordinated in the relationship to oil through its latest bull cycle.
Continue reading "Bullion Tame as Oil-Gold Ratio Hits 3-Decade High" »
RYE, N.Y.--(BUSINESS WIRE)--March 29, 2005--Gabelli Asset Management Inc., (NYSE:GBL) today announced the initial public offering of common shares of the Gabelli Global Gold, Natural Resources & Income Trust, a new closed-end fund investing primarily in equity securities of gold and natural resources companies. The Fund intends to earn income primarily through a strategy of writing (selling) covered call options on equity securities in its portfolio. The Fund will issue 16.6 million shares in the public offering at the initial price of $20 per share, generating gross proceeds of $332 million (exclusive of the underwriters' overallotment) and will trade on the American Stock Exchange under the symbol "GGN."
By Tim Wood -
ST. LOUIS (ResourceInvestor.com) -- Goldcorps [GG] newly minted president and chief executive, Ian Telfer, is holding to his publicly announced playbook with the $70 million cash acquisition of the Bermejal gold deposit in Mexico.
Despite Telfer flagging his 'new' strategy repeatedly even before the Goldcorp-Wheaton deal, many investors thought the newly enlarged company would quickly go shopping for big ticket items. Not at all.
Continue reading "GoldcorpWheaton Delivers First Campaign Promises Quickly" »
SINGAPORE - Industrial metals traded close to multi-year highs on Thursday as funds flocked to red-hot commodity markets and a bruised U.S. dollar made copper a more attractive buy for overseas investors.
Star performer zinc, up more than 12 percent since the start of the year, traded around a 7-1/4-year peak and copper crept $10 toward its all-time high of $3,280 a tonne, set 16 years ago.
Demand from fast-growing China shows little sign of abating, with global mining houses reporting double-digit profits as a result of high commodity prices. CVRD and Rio Tinto have bagged a 71.5 percent increase in iron ore contract prices for sales to some Asian steel makers.
Continue reading "Fund interest keeps red-hot metals near highs" »
Gold is coming back in fashion in China, according to latest reports, with the middle class queuing up to purchase the precious metal.
Evidence of the demand for gold was particularly clear when the Caishikou department store sold all its gold bars in just a matter of hours last month.
When a second set of gold bars was released, the top gold retailer in Beijing asked people to register by phone and nearly 3,000 people did.
London Bullion Market Assocation have released a 10 page report called "Annual Metal Winners 2004".
The best visions of the future often start by looking at the past.
Last year held rewards for both the bulls and bears and also for those in the middle. The 2004 average for gold hovered near $410 at years-end approached, a level none in last year's Forecast had chosen.
Read the report by clicking here.
The price of gold could reach US$480 a troy ounce during the first half of 2005 if the euro strengthens to $1.39 in the same six-month period, investment bank Merrill Lynch said in a report issued this week.
The bank sees gold averaging $440/oz in 2005, with the metal trading in a range between $400/oz and $480/oz.
At 11h30, gold was quoted at $422.90/oz, up $1.05/oz from the metal's previous close of $421.85/oz, and the euro was quoted at $1.2989 from the European unit's late trade in New York on Thursday of $1.2964.
Continue reading "Gold could reach 480 dollars - Merrill Lynch" »
By Bill Cara -
The info on the new gold ETF is at this link.
The ETF Fact Sheet is at this link.
The GLD Prospectus (for U.S. investors only) is at this link.
BOSTON (AFX) -- The World Gold Council has filed its last registration statement with the SEC for an exchange-traded fund tied to gold bullion, signaling the ETF could be launched as soon as next week. The highly-anticipated fund would allow U.S. investors to invest directly in gold via an exchange-listed security for the first time. Gold ETFs have already been listed in England, Australia, and South Africa.
This story was supplied by CBSMarketWatch. For further information see www.cbsmarketwatch.com or visit www.gold.org