Индивидуальные курсы Java. Обучение программированию Java в Москве и Санкт-Петербурге. |
 |
Mar-22-2011Gold futures move lower in volatile trading(topic overview)
CONTENTS:
- Hopes of progress in averting a nuclear disaster at a Japanese power station damaged by the earthquake and subsequent tsunami 10 days ago helped soothe the equity markets, but there remained enough doubt over the longer-term hit to the world's third largest economy to encourage buying of gold. (More...)
- Intermediate support comes in at $35, with $34 below that. (More...)
- Silver XAG= gains nearly 3 percent, rising to $36.06 an ounce from $36.02 late in New York on Friday. (More...)
- Why we target 5% is a different topic and we may discuss that at some other time in the context of an allocation discussion, but it does not relate to our particular reasons for discussing silver and gold alone. (More...)
- "$38 price target is my lift off for $40 and beyond." (More...)
- Simply buy units of the iShares Silver Trust ETF (NYSE:SLV). (More...)
- Bulls' next upside price objective is producing a close above solid technical resistance at the March high of $36.745 an ounce. (More...)
- Spot platinum gained for a third day, adding as much as 0.8 percent to $1,736.80 an ounce. (More...)
- In currency markets the euro EUR= hit $1.4249, its highest since November, boosted by expectations the European Central Bank will raise interest rates next month, which prompted demand from longer-term "real money" investors. (More...)
- Booth is convinced that gold will still head higher especially with bad headlines coming out of Japan and Libya, which will draw traders back into the gold market. (More...)
- Stocks had an even better day, as AT&T;'s (T ) $39 billion buyout of T-Mobile jumpstarted the market. (More...)
- Gold has gained on rising geopolitical tensions after a series of U.N. -authorized Western air strikes against Libya's Muammar Gaddafi, which Russian Prime Minister Vladimir Putin said resembled "medieval calls for crusades." (More...)
- Benchmark West Texas crude for May delivery added $1.24 to settle at $103.09 per barrel on the New York Mercantile Exchange. (More...)
- Cattle and hogs look very bullish, and high corn prices are causing ranchers to cull the herds as demand is rising in Japan because of concerns over radiated foods. (More...)
- The Standard & Poor'''s GSCI Spot Index of 24 commodity futures increased as much as 1.5 percent and was up 1.3 percent at 710.94 as of 3:37 p.m. in Singapore. (More...)
- • Kitco.com: Premiums are fair, and the selection is usually quite good. (More...)
Selected Sources
Find out more on this subject
Hopes of progress in averting a nuclear disaster at a Japanese power station damaged by the earthquake and subsequent tsunami 10 days ago helped soothe the equity markets, but there remained enough doubt over the longer-term hit to the world's third largest economy to encourage buying of gold. The gold price, which is set for its tenth consecutive quarterly gain, was last up 0.8 percent at $1,430.90 an ounce by 1155 GMT, while most-active U.S. April futures were up 1.1 percent at $1,431.40. Last week, gold fell by as much as 2.6 percent as the unfolding situation in Japan triggered a wave of selling in higher-risk assets, prompting investors to liquidate their bullion holdings to cover losses in other markets and analysts said the high level of risk aversion might see a repeat of this. "It's happening against a backdrop of elevated uncertainty from numerous places, which should give these safe-haven type commodities a bid," said Saxo Bank senior manager Ole Hansen. "As long as we have this tendency towards risk aversion in the market, gold will be struggling. It's such a high percentage of the total investment in commodities, so if there is anything to be reduced, gold is often in the firing line in that respect." [1] Gold rose for a fourth day Monday, buoyed by a weaker dollar, rising oil prices and investor jitters surrounding air strikes by Western powers on Libya and Japan's struggle to avert nuclear disaster. Gold trimmed early gains, following oil, but the metal stayed within a whisker of its record $1,444.40 an ounce set on March 7. [2]
Gold rose 0.6 per cent to $1,427.95 an ounce by 3:39 p.m. ET, while most-active U.S. April futures GC-FT settled up 0.7 per cent at $1,426.40. Spot silver climbed 3.2 per cent to $36.16 an ounce, within striking distance to its 31-year high of $36.70, making it the top gainer in the precious metals complex. Reflecting bullishness among silver producers, Primero Mining Corp said it bought call options at an average strike price of $39 to cover its silver sales agreement to another miner, Silver Wheaton. Total COMEX futures turnover was about 15 per cent below its 30-day average and Friday's volume. [2] DATA/EVENTS (GMT) 1400 U.S. Exist. home sales and chg Feb Precious metals prices 0032 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1426.00 6.43 +0.45 0.46 Spot Silver 35.79 0.74 +2.11 15.98 Spot Platinum 1724.24 6.74 +0.39 -2.45 Spot Palladium 730.77 2.77 +0.38 -8.60 COMEX GOLD APR1 1426.40 10.30 +0.73 0.35 6109 COMEX SILVER MAY1 35.84 0.78 +2.22 15.82 4126 Euro/Dollar 1.4159 Dollar/Yen 80.89 TOCOM prices in yen per gram. [3] DATA/EVENTS (GMT) 1145 U.S. ICSC chain stores yy Weekly PRICES Precious metals prices 0043 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1428.40 3.35 +0.24 0.63 Spot Silver 36.15 0.10 +0.28 17.14 Spot Platinum 1740.99 -1.01 -0.06 -1.50 Spot Palladium 742.22 -2.78 -0.37 -7.16 TOCOM Gold 3733.00 14.00 +0.38 0.11 32129 TOCOM Platinum 4578.00 51.00 +1.13 -2.51 6482 TOCOM Silver 94.10 2.50 +2.73 16.17 773 TOCOM Palladium 1945.00 41.00 +2.15 -7.25 99 COMEX GOLD APR1 1428.70 2.30 +0.16 0.51 1963 COMEX SILVER MAY1 36.18 0.17 +0.48 16.92 558 Euro/Dollar 1.4218 Dollar/Yen 81.02 TOCOM prices in yen per gram. [4]
Precious metals prices 0718 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1427.81 8.24 +0.58 0.59 Spot Silver 35.78 0.73 +2.08 15.94 Spot Platinum 1729.74 12.24 +0.71 -2.14 Spot Palladium 734.75 6.75 +0.93 -8.10 TOCOM Gold 3702.00 -17.00 -0.46 -0.72 24697 TOCOM Platinum 4513.00 -14.00 -0.31 -3.90 3158 TOCOM Silver 90.60 -1.00 -1.09 11.85 226 TOCOM Palladium 1908.00 4.00 +0.21 -9.01 72 COMEX GOLD APR1 1428.40 12.30 +0.87 0.49 14288 COMEX SILVER MAY1 35.84 0.78 +2.23 15.84 8029 Euro/Dollar 1.4173 Dollar/Yen 80.91 TOCOM prices in yen per gram. [5]
Intermediate support comes in at $35, with $34 below that. The U.S. dollar is very weak and the Dollar Index has broken below its multi-year trend line. This is helping to lift both precious metals. They were also boosted on news that Iran has secretly been boosting its gold reserves, while China bought 246 metric tons of silver last month. [6] The FT says that, "Andrew Bailey, head of banking at the Bank of England, told an American official that the central bank had observed significant moves by Iran to purchase gold, according to a U.S. diplomatic cable obtained by WikiLeaks and seen by the Financial Times" also saying that Iran has been one of the biggest buyers of gold the last decade followed by China and Russia. That strategy has served Moammar Gadhafi well as his gold assets may be the reason he is still in power. The Financial Times reports that Libyan gold reserves are among the top 25 in the world, are worth more than $6.5 billion dollars at current prices which they say is enough to pay a small army of mercenaries for months or even years. The FT says that, "While many central banks hold their gold reserves in international vaults in London, New York or Switzerland, Libya's bullion is in the country, said people familiar with the country's activities in the gold market. [7] In the U.K. and elsewhere inflation is rising and ensuring that 'real' interest rates are negative. It is getting more and more difficult to see the 'black swans' in isolation. One has to juxtapose them now and gauge the effects of their joint impact. For gold and silver, this remains positive. Gold was Fixed lower in both the euro and the dollar this morning in London at $1,425.50 and at '1,000.63 but then the gold price edged lower ahead of New York's opening. Gold looks as though it will either hold these levels or tend weaker in New York today. [8]
News that Gold Fields has offered to buy out some Peru holdings, suggests that the gold mining industry remains bullish toward gold price prospects and that angle was given some addition credence overnight by predictions from the Anglogold Ashanti CEO who predicted that gold prices could reach $1,600 an ounce in the coming 20 months. It would also seem like gold prices are still tied to the direction of oil prices, which remain supported by fears of a stalemate in Libya. [9] Lingering concerns over prolonged oil disruption in the Middle East-North Africa region are also propping up oil prices, which have been moving in tandem with gold prices. Investors are also running out of safe places to put their money. The yen is typically a safe haven but with G7 nations buying up U.S. dollars and selling yen to push down its value, that asset might provide less cover for investors, which makes gold more appealing. [10] "You can't deny the escalating Middle East problems and the oil price are all supportive factors, but I wonder whether the big jump (in the gold price) is more weaker dollar-related," said Credit Agricole analyst Robin Bhar. "It's all contributing to the safe-haven bid, and this week is going to be important. geopolitical risk factors are uppermost in people's minds," Bhar said. The dollar fell against a basket of major currencies to its lowest in 15 months, under pressure from the view that U.S. interest rates would not rise any time soon compared to other major economies such as the euro zone. [2] SINGAPORE, March 22 (Reuters) - Gold prices held steady on Tuesday, supported by a weak dollar and firm oil prices, as the unrest in the Middle East and North Africa intensified and Japan continued its efforts to control the nuclear crisis. [4]
Silver and gold prices rose Monday as investors sought out relatively stable assets while uncertainty continues about the Middle East and Japan's recovery. [11] Gold XAU= ends the day up close to 1 percent, quoted at $1,432.00 an ounce by 1620 GMT, up from $1,419.57, driven by the weakness in the dollar index.DXY and ongoing investor uncertainty over events in Japan and the Middle East. [12] "If the dollar remains weak and we get further unrest in the Middle East, there is a very reasonable chance for gold to test the record high," said Heathcote. The dollar index declined to its lowest since the end of 2009, after the euro hit four-month highs against the dollar as the euro zone looked set to officially agree on details of bolstering a bailout fund at the March 24-25 summit. Technical analysis showed that gold may retrace to $1,411 before resuming its uptrend towards the record high at $1,444.40. [5]
U.S. stocks rose after a week of volatility, but investors were reluctant to make big bets due to turmoil in the Middle East and Japan's nuclear crisis. The world's largest gold-backed exchange-traded fund, SPDR Gold Trust (GLD: Quote ), said its holdings rose to a 5-1/2-week high of 1,226.395 tonnes by March 18 from 1,217.295 tonnes on March 16. [13] Coming up: U.S. existing home sales, Feb; 1400 GMT (Updates prices) By Rujun Shen SINGAPORE, March 21 (Reuters) - Gold prices edged higher on Monday, fuelled by the escalating tension in the Middle East and North Africa after western forces launched air attacks in Libya, as a weaker dollar also lent support. [5] As allied forces extended their air attacks against Moammar Ghadhafi in Libya and strife across the Middle East continued, gold futures prices climbed for a fourth-straight session. [14]
In Tokyo, though, demand was unabated; the premium for gold bars was running $1.50-$2 above London spot prices, while gold futures on the Tokyo exchange rose 0.2% to 3,725 yen per gram ($1,426.695 per ounce). A trader at a Tokyo-based bullion house was quoted in the report saying, "Gold in yen jumped up this morning, and we've seen some selling back." [15] Spot gold traded at $1430.27 an ounce at 1.00 pm Singapore time, while U.S. Gold futures for April delivery were seen trading at 1430.30 an ounce. [16] If we use the current 50:1 ratio - and my expectation that gold will be trading at $2,500 an ounce by the end of 2011 - I believe we're looking at a target price of $50 an ounce for silver by the end of the year. That represents a 43% return over the recent price of $35 an ounce. That's a target I believe to be very realistic, given the times. [17] Historically, that ratio is 16 to 1. On this basis alone - with gold sitting at nearly $1,389 an ounce, as I write this - silver should be at $86.75. That's a long way from the current price that's trading under $40. [17]
"I don't think that silver is going to be as safety trade like gold. I think the action in silver might slow down." Silver prices settled 94 cents higher at $36 an ounce,. close to its 31-year record settle. Gold mining stocks, a risky but profitable way to buy gold, were rising Monday. [10] Compiled 03/22/11 6:00 AM ( CT ) Statistics: London Gold Fix $1425.50 -$2.25 LME Copper Stocks 434,350 tons +3,850 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The May silver contract did manage a fresh new high for the move overnight and that suggests that silver continues to out perform the gold market. [18] May contract Copper was red as well and ended the session at $4.19 per pound. Negative momentum continued on Tuesday for index trends in the U.S. but the dollar was gaining strength this day. Gold, silver and copper all fell back this day. [19] Gold and silver were finding some support from a flat lining U.S. dollar index, which was down slightly to $75.43. [20] Libyan oil is in doubt and may be off the market completely at some point. The VIX index came down as gold and silver rallied in part because the market expects that more Middle Eastern and North African dictators might think it wise to buy as much as they can before they face the same problems as Moammar Gaddafi. The Financial Times was all over this story reporting that Iran (another country with civil discontent to say the least) has loaded up on huge amounts of gold to reduce its exposure to the U.S. dollar. The reason in part is to keep its assets safe ahead of what could be an American seizure of those same assets. [21]
Gold and silver also benefited from demand as an alternative investment, with a softer U.S. dollar and higher crude oil prices, said Mike Daley, a senior metal analyst with PFTBEST. [22] The demand for the precious metal is also boosted by a weak dollar and rising oil prices, besides concerns over conflict in Libya and Japan 's crisis. [16] Buying of the precious metal by investors and households in the west of Japan, combined with transport woes in the world's third largest economy, usually a net gold exporter, could dry up supplies elsewhere in Asia, and inevitably push up world prices. Investors in Japan dived into yen-denominated markets such as TOCOM gold after concerted intervention by the G7 group of nations weakened the currency against the dollar last Friday, a day after the yen rose to a record high of 76.25. [23]
Brent crude gained $2.02 in midday trading to come in at $115.95 per barrel, and April U.S. crude lifted by $1.91 to reach $102.98 as continued conflict in Libya and unrest in other Middle East/North Africa (MENA) nations, including Syria and Yemen, drove uncertainty. That uncertainty also stimulated a return to safe-haven gold, with the precious metal gaining for its fourth straight day. [24] Reuters reported that physical gold gained again, adding 0.2% to reach $1,427.86 an ounce in early trading. Monday's overseas trading saw the precious metal at one point hit just $10 shy of its record, coming in at $1,434.70. [15]
Grasso's short term range for gold is $1,390-$1,460 and over the next 18 months $1,600-$1,800 an ounce. Grasso prefers silver as he says it's acting more predictably even though it's volatile. Anthony Neglia of Tower Trading says that if things improve with Japan then silver can regain its momentum. [20]
CHICAGO, March 21 (Xinhua) -- Gold futures on the COMEX Division of the New York Mercantile Exchange on Monday climbed for a fourth straight trading day, as air strikes in Libya and ongoing nuclear crisis in Japan continued to boost safe-haven demands. [22] NEW YORK U.S. gold futures rose as Western air strikes on Libya stoke investor uncertainty on Monday, while copper was little changed as the market digested the news of lower imports of refined copper by China. [25]
Tuesday saw gold prices continuing to rise on concerns about military action in Libya and the ongoing crisis in Japan, while investors claimed profits on oil in anticipation of slowing intervention by the U.S. and other nations in Libya. [15]
U.S. investment bank Goldman Sachs Group Inc (GS.N: Quote ) said it forecast gold prices rallying to a record $1,480 an ounce in three months on declining U.S. real interest rates. [13] Gold is marginally higher on a day to day basis, the spot gold price quoted at IG Index is $1427 an ounce. [6] The spot gold price was down $2.80, according to Kitco's gold index. Silver prices were up 6 cents to $36.07, which has some traders thinking the 'poor man's gold' is ready to breakout. [20] The spot gold price was rising $8.30, according to Kitco's gold index. Gold prices rallied Monday but without a lot of oomph. "It becomes harder and harder as we seize higher prices for funds and for speculators alike to actually buy the high prices," says Brian Booth, senior market strategist for Lind-Waldock. [26]
Investors plowed more than $4 billion into commodity-based products and mutual funds in February, the most in nine months, favoring agricultural markets, silver and broad index funds, Lipper data showed. Canada's Greystar Resources Ltd (GSL.TO: Quote ) said it was not abandoning its Angostura gold project in Colombia and would present plans to change the mine to underground from open pit. [13] Any food shortages will most likely force global food prices higher, something already crippling emerging market economies. Food Price Watch said that the World Bank's food price index grew "15% between October 2010 and January 2011 and is only 3% below its 2008 peak." Any hints of inflation are typically good for gold prices as investors buy the hard asset to protect their wealth as paper money becomes worth less. [27]
We don't believe that making an asset allocation and quarterly, semi-annual or annual allocation rebalancing decision should be based on 100 years or 1,000 years of price behavior. We own both gold and silver (although much more gold than silver) and did not suggest having none of either. Rather we suggest trimming the silver position to add to the gold position, keeping the precious metals allocation the same and the target allocation between them the same. That is probably a safer thing to do than to attempt to ride the silver bullet train to the top. [28] For U.S. residents, consider the Central Fund of Canada Ltd. (AMEX:CEF). It's a closed-end fund that's been around since 1961 and that owns physical gold and silver. It's domiciled in Canada, with its precious metals stored in the vaults of a Canadian-chartered bank. CEF often trades above its net asset value (NAV), but you should avoid paying more than a 5% premium. [17]
U.S. and European governments have frozen billions of dollars in Libyan assets, as sanctions have hit the central bank, sovereign wealth fund and state oil company. Libya's gold reserves may provide Col Gaddafi with a lifeline - if he can sell them. [7] Countries around the world have been freezing Moammar Gadhafi's assets, and trying to choke off the flow of money to Libya's state oil company and sovereign wealth fund. There's one asset they can't touch: the 143.8 tons of gold in Libya's central bank, which is controlled by Gadhafi. [29]
Silver SI-FT soared nearly 3 per cent on strong industrial demand and near-term supply tightness, more than recouping last week's sharp losses. "Tensions in Libya are prompting people to move money out of dollar-based assets and going for the safe play, which is buying gold and silver, as both are benefiting in a really big way today," said Zachary Oxman, managing director of TrendMax Futures. [2] Gold price is in the range of record Ra 20,000 per ten gram in India, the largest marketplace for gold in the world. Though Indians are buying gold coins and bars as investment options these days, people especially in the rural areas are opting for silver in place of gold. Luckose said that silver jewellery has turned out to be a fashion statement these days. "People fear wearing gold jewellery these days as high gold price has led to several incidents of gold jewellery snatching on streets. Many customers coming to us say that they feel comfortable wearing silver jewellery," Luckose pointed out. [30] NEW DELHI (Commodity Online): Silver is glittering in India these days. Only poorest among the poor in India could have thought of buying silver jewellery for the marriage of their daughters some years back. These days, driven by the skyrocketing price of gold Indians--the rich, the middle class and the poor--are buying silver jewellery and investing in silver. "Silver has emerged as a fashion statement as many people find difficult and unrealistic to buy gold jewellery at these high prices," John Luckose, who runs a small-time gold and silver jewellery in Kochi, a popular gold buying destination in India, said. [30] Forecasting prices for anything can be tricky. A precious-metal commodity such as silver is no exception. With gold holding the leash on its "lapdog" - silver - the performance of the so-called "yellow metal" holds the key to silver prices in the New Year. [17]
NEW YORK ( TheStreet ) -- Gold and silver prices were backing off their recent rallies as investors took profits. [20] Gold rallied 0.7% while silver popped 2.7%. Bad headlines have also stopped coming out of Japan for now, as Tepco connected its six reactors at Fukushima to power lines. The U.S. led allied forces have said they are close to implementing a full no-fly zone over Libya. The lack of scary news is allowing traders to take profits in gold and silver rather than buying them as a safety net. [20] NEW YORK ( TheStreet ) -- Gold prices rode fears over lingering uncertainty in Japan and the conflict in Libya higher Monday as safe haven buyers jumped into the market. [26] NEW YORK (Dow Jones)--Intensified fighting in Libya and the continuing nuclear crisis in Japan raised demand for gold as a refuge investment Monday. [31] March 22 (Bloomberg) -- Gold fluctuated in New York as tensions in the Middle East and Libya boosted demand for an investment haven. [32] Commodities traders are concerned about global oil supply disruptions because of anti-government clashes in Libya and other parts of the Middle East and North Africa. They also are monitoring Japan's ongoing struggles to recover from a March 11 earthquake and tsunami and the ensuing crisis at its stricken nuclear plants. Both situations can affect demand for a broad range of commodities, from oil to corn. Other metals and agriculture products are mixed while energy contracts are mostly higher. [33] The other pressing issue is whether demand for commodities will fall as Japan rebuilds after a devastating March 11 earthquake and tsunami and the ensuing crisis at nuclear plants there. Both situations can affect a broad range of commodities, from oil to corn. CPM Group analyst Carlos Sanchez said many investors want to hedge their bets, such as buying gold and equities as they await developments in either situation. [11] Gold futures turned higher Tuesday, resuming a winning streak that'''s already spanned four sessions, as strength in the Japanese yen helped spur gold buying, according to one strategist. '''We see no fundamental reasons this morning for strong gold," said Richard Hastings, a macro strategist at Global Hunter Securities.'' He said there are indications Japanese investors are probably increasing demand for gold. Plus, "some other banks may be buyers in order to add to the portfolio just in case Japan sells gold later this year to fund its rebuilding." '''It'''s forex driven,''' he said. [34] In Tokyo, on the east of Honshu island, millions of people remained indoors, fearing a blast of radioactive material from Fukushima Daiichi complex 240 km (150 miles) to the north. "It's possible theoretically that dealers are trying to procure gold in anticipation for demand by retail investors for safe-haven buying in the future," Kamei of Market Strategy Institute said. "For now, they are taking a wait-and-see stance." [35]
TOCOM gold futures significantly underperformed in the four days immediately after the March 11 quake as investors sold gold to cover margin calls in equities, which slumped almost 20 percent. Both markets have since partially recovered, with TOCOM gold up 4.4 percent on the day on Friday, trading above 3,720 yen an ounce, but 1 percent down on the week, having dropped by as much as 6.8 percent since the earthquake. [23] Technically, April Comex gold futures prices are presently trading not that far below the all-time record high of $1,445.70, scored in early March. [36] Gold prices, which gained 1.7 percent in the last three trading sessions, recorded a high of $1445.70 on March 7. [16]
Contract gold for April delivery moved higher by.58 percent and finished the day off with a floor price of $1404.20 an ounce. [19] Aprill contract gold was higher by 1.33 percent, or $18.90, at the halfway point and posted a floor price of $1435 per ounce. [37] Floor price for April contract gold was higher at close by.85 percent and finished at $1,416.10 an ounce. [19]
Silver contract floor price ended the day higher by 1.04 percent at $34.47 an ounce. [19] April contract gold ended the day in the green by.29 percent at $1,396.80 an ounce. [19] April contract gold finished the day lower by 2.11 percent at $1,394.80 an ounce. [19]
In contracts for May delivery, silver rose 94.3 cents to settle at $36.001 an ounce while gold gained $10.30 to settle at $1,426.40 an ounce. [11] Contracts for April delivery rose $10.30, or 0.7%, to settle at $1,426.40 a troy ounce on the Comex in New York. The SPDR Gold Trust ETF ( GLD ) closed up 0.6% at $139.14 a share, its highest level since the opening week of this month. [14] The most actively traded contract, for April delivery, rose $10.30, or 0.7%, to settle at $1,426.40 a troy ounce on the Comex division of the New York Mercantile Exchange. [31]
Gold for April deliveryadded $10.30 to settle at$1,426.40 an ounce at the Comex division of the New York Mercantile Exchange. [27]
Gold futures for April delivery slid 30 cents to $1,426.10 at 11:04 a.m. on the New York Mercantile Exchange. [32] Gold futures for April delivery rose $10.30 to close at $1,426.40 on Monday on the Comex in New York. [16]
The Market Vectors Junior Gold Miners ( GDXJ ) rose 3.6% and the Global X Silver Miners ETF ( SIL ) jumped 5.3%. "While gold and silver are bolstered by numerous geopolitical events worldwide, they continue to face significant resistance at their old highs,''' Peter Grandich, editor of The Grandich Letter, told MarketWatch. '''It'''s a coin toss right now if they can get through them." He believes gold'''s technical resistance level is near $1,440 while silver's stands at $37 an ounce. [14] Silver contracts for May delivery finished up at $36 an ounce. It's also worth noting that gold and silver miners did especially well today. [14] As for metal Fixes (Mar 21); Gold fixed at AM Fix was set at $1,427.75 an ounce while the PM fixing (MAR 21) was set at $1,432.00 an ounce; meanwhile silver fixing was set at $36.16000 an ounce and Platinum AM Fixing (Mar 21) was set at $1,740.00 an ounce, and at 1,741.00 an ounce during the PM fixing (Mar 21); finally ending with Palladium AM fixing set at $741.00 at (Mar 21) AM fixing, while the PM fixing (Mar 21) was set at $743.00 an ounce. [38] Spot silver climbed 2 percent at $35.78 an ounce, leading the precious metals complex. [5] I'm fairly new to the precious metals investment area and really appreciate your thoughts on historical data and what it means when looking forward. If nothing else I think for someone like me this article and your previous make me pause and think hard and long about whether or not I care to stay in the volatility field that is silver, or reduce my risk (and maybe some potential short term profits) and invest in gold. [28] Going on what happened in the past, and considering the size of the silver market relative to gold, silver may be a way to own a precious metal that just might sidestep any risk of future confiscation. If the government getting its hands on your hard-earned silver is a personal concern, then you may want to consider a particular kind of silver investment: owning silver that's held outside of the country where you reside. [17]
The move by the United Nations to initiate air strikes against Gadhafi and his protectors in Libya increased the appeal of and stability precious metals gold and silver. [39] Tensions in the Middle East and North Africa heightened after western nations pressed ahead with a campaign of air attacks in Libya, supporting the sentiment in the precious metals market. Holdings in the world's largest gold-backed, exchange-traded fund, SPDR Gold Trust, rose to 1,226.395 tonnes, their highest since Feb. 9. [3] Commodities gained for a fourth day, led by oil and precious metals, as military intervention in Libya renewed concerns that Middle East unrest may spread and disrupt fuel supplies. [40]
Brent climbed 1.5 percent on towards $116 after the air strikes on Libya, stoking fears violence will intensify in North Africa and the Middle East, source of more than a third of the world's oil. [13] Oil prices jumped more than 2 percent to top $116 a barrel on Monday as Western forces launched air strikes on Libya, while Asian shares rose on bargain hunting after heavy losses last week. [13]
Air strikes in Libya drove the prices of oil and gold higher on Monday, while indications that Japan might be progressing in containment of its reactor woes lifted stocks on world markets. [24]
Supply tightness in Japan could also spill into Hong Kong and Singapore, where sales of scrap remain slow, despite a rebound in gold prices to above $1,400 an ounce. [23] The gold price has returned to familiar chart territory at just under $1,430 per ounce, following a strong recovery last Thursday and Friday that saw gold close for the week at $1,419. [41]
Back in 1933, in the depths of the Great Depression, U.S. President Franklin D. Roosevelt signed Executive Order 6102, effectively forbidding the ownership of gold coins, bullion, and certificates by U.S. citizens. In this way, the government coerced the public to turn in their gold for $20.67 an ounce - which the government shortly thereafter "revalued" to $35 per ounce. [17] U.S. gold was up 0.1% to $1.428.20. The SPDR Gold Trust, however, fell 10.616 tons in its largest single fall since late January; investors lost some interest in the largest exchange-traded gold fund's bullion. [15] Most typical are one-ounce silver coins, like the Austrian Silver Philharmonic, the American Silver Eagle, and the Canadian Silver Maple. Their prices vary slightly due to differences in silver purity, with the Silver Maple being the highest at 99.99% pure. You'll pay about a 16% premium over the silver price for coins due to the cost of fabricating them. Another popular option is the 100-ounce silver bullion bar. It commands a 5% premium over the spot price of silver, meaning the bar is currently selling for around $2,000. Investors buy these coins and bars essentially for their silver content and not for their value as collectibles. [17] Among platinum group metals, spot platinum PL-FT gained 1.4 per cent to $1,742.24. Spot palladium PA-FT rose 1.9 per cent at $741.72 an ounce, but is set for a near-8 per cent decline this quarter, having come under pressure from investors concerned about the impact of the Japanese earthquake and soaring energy prices on the broader economy. [2] Silver hit a low of $4.06 per ounce back in November 2001. The returns of the "white metal" have been extremely rewarding for those early - and patient - investors. [17]
In September 2010, we did publish a full report on silver - and recommended it as a "Buy." At that time, the "white metal" was trading at about $19 an ounce. [17] Over the longer term, however, gold's link with the dollar could be erratic, traders said. Adam Hewison, president of MarketClub.com, said his technical models indicated gold could remain in a trading range as it builds up energy for its next upward move. Bullion will likely face technical resistance in the $1,335-$1,440 area, the daily close when the metal surged to an intraday record on March 7, he said. [2] Spot gold hit a record high of $1,444.40 an ounce on March 7, and was trading above $1,425 on Monday. [23]
Gold premiums in Singapore remained stable at about $1 an ounce above London spot prices, a Singapore-based dealer said. "Some speculators have been selling today, taking the opportunity of higher prices, especially as they see some resistance at the $1,430 level," said the dealer. [5] Spot gold gained nearly half a percent at $1,426 an ounce by 0032 GMT. [3] Spot gold gained 0.6 percent to $1,427.81 an ounce by 0718 GMT, extending gains from the previous session. [5]
April contract gold finished in the green by.22 percent at $1,424.90 an ounce. [19] The most actively traded gold contract, for April delivery, was recently down $3.20, or 0.2%, at $1,423.20 a troy ounce on. [42]
Premiums for gold bars in Japan rose to $2 an ounce late last week, from zero before the earthquake. Logistics problems have added to tightness in the physical market, with bullion houses unable to get extra supply from other centers in Asia such as Hong Kong and Singapore. [23] Gold rose for a fourth day on Monday, driven by concern over the impact to global growth from the devastation in Japan, while western air attacks on Libya added to investor uncertainty. [25] SINGAPORE, March 21 (Reuters) - Spot gold firmed a touch on Monday following increased tensions in Libya after western forces launched a military campaign, while investors continued to watch the unfolding nuclear crisis in Japan. [3]
In 2010, Japan's retail investors sold a net 50 tonnes of gold bars and coins. This compares to a 34 percent jump in gold bar and coin investment worldwide, to 995 tonnes, according to the provisional data by the World Gold Council. The country was a net exporter of a record 78 tonnes of gold, equivalent to around one fifth of top miner China's output, making resource-poor Japan as significant a supplier to the market as Mexico is from its mines. [35]
The message: There's been a fundamental shift, where precious metals investors see silver as the "more-affordable" true-money option. I expect this newer 50:1 ratio to hold, and perhaps to even decline - which portends a relative outperformance for silver versus gold. [17] A stock market correction has a significant probability with all that is going on in world today. Therefore, we think harvesting some profits from silver and reinvesting them in gold is a reasonable play within the precious metals category. [28] We have not reduced our precious metals exposure, and if fact have increased it somewhat. By shaving off the top of high flyers in a class (silver in this case) and topping up laggards (gold in this case) we are buying low and selling high, and taking a somewhat more conservative approach. [28] If the class were to go into a primary trend down turn, then we would put the allocation for that class into cash, but precious metals are in a primary up trend, and we are just rebalancing between the two metals. Not all accounts have both, but if they do, then we are concerned that silver may be a bit ahead of itself -- of course today with silver up 2.6% and gold up 0.9% that performance gap is widening. [28] If we are wrong in our assessment and approach, we will not suffer the consequences of owning no precious metals, but rather the consequence of owning a bit less silver and a bit more gold -- hardly a precarious situation. [28]
High gold price is changing the custom of wearing the yellow metal jewellery by Indians. People in India--know for their craze for wearing gold jewellery--are turning to silver jewellery thanks to the unaffordable price of gold. [30] According to WGC, demand for gold bullion as an investment in India surged 73% last year. "Gold and silver purchases this year will continue to remain strong in India and price is no longer a factor," he said. [30] Firstly your assertion of an unsustainable price increase: Strong investment demand worldwide for Silver is driving the price up. It takes about 7 years to commission a new Silver Mine so there's no vast supply of Silver coming on line any time soon. Huge demand, low stocks - all this suggests Silver has a lot further to go in terms of price. [28]
Commentary: As with gold, the recent bout of U.S. Dollar weakness has put silver on a parallel track with risk appetite (as tracked by the MSCI World Stock Index). Unlike its more expensive counterpart however, ETF holdings have leveled off over the past week having moved aggressively higher from the low in early February, hinting silver may underperform gold over the near term. The gold/silver ratio stands at a record low and well below its long-term average, reflecting silver's aggressive dominance since mid-2010 and suggesting a period of correction is indeed reasonable. [43] Commentary: Gold seems to be breaking away from the safe-haven role it had occupied over recent weeks, with prices carving out a formidable positive correlation with the MSCI World Stock Index (a proxy for underlying risk appetite) over the past week. [43]
Compiled 03/22/11 6:00 AM ( CT ) Statistics: London Gold Fix $1425.50 -$2.25 LME Copper Stocks 434,350 tons +3,850 tons GOLD MARKET FUNDAMENTALS: (6:00 AM CST) A return to risk overnight doesn't seem to have undermined gold prices in the early Tuesday trade. [9] Certain Asian equity prices have returned to pre-quake levels and that in turn has tamped down deflationary concerns and apparently provided support to gold prices. The Dollar is a touch weaker this morning and that is probably the result of hot UK inflation readings and ideas that the U.S. is set to remain in an easing posture. Another reason for the trade to embrace the "risk on" standing is news that a Spanish debt auction saw good demand overnight and that the EU managed to step up their financial bailout capacity again. [9]
According to David Morrison gold prices are trying to break above resistance at $1,430. "If it can close above here then it will attempt to take out its all-time nominal high in dollar terms which is just shy of $1,445," says Morrison at GFT. [6] The gold price has traded as high $1,432.30 and as low as $1,419.50. [20]
Lingering concerns over prolonged oil disruption in the Middle East-North Africa region are also propping up oil prices, which have been moving in tandem with gold prices. [27] Like gold, silver does seem to be taking some direction from oil prices and to a certain degree from the global equity markets and that might be why silver prices periodically have out performed the gold market. [18] A 1 per cent rise in oil prices was enough to stoke inflation worries that helped keep gold aloft, analysts said. [2]
Brent crude oil surged climbed 1.5 percent as a result of the rising tension in Libya, also helping to buoy the price of gold, which is used as a hedge against inflation. [5]
Gold prices rode higher Monday on lingering uncertainty in Japan and fears over the conflict in Libya. [27] Gold bumped higher last week when the United National Security Council issued the "no fly" zone in Libya and then pushed lower when Gadhafi declared a cease fire. Goldman also reported at the conclusion of last week that gold prices should continue to rally and thus their three month target level of 1480 for gold holds. [44]
Silver per ounce was posting higher by 1.00 and spot gold per gram was posting higher by.45. The escalation of unrest in Libya is expected to support gold through this week. [44] Spot gold per gram was moving higher by.39 at 45.91. Gold and silver were both supported by the weaker dollar. [39]
One of the more bullish factors for silver versus gold is backwardation in the futures contracts, where the current spot month trades higher than the future months. [45] Today, contracts for gold and silver were moving higher durng the first half of the trading session. [37] Silver's March contract is trading at $35.83 while the July 2014 contract is trading at $35.78. [45]
May contract silver finished the day higher by.94 at $36.00 an ounce. [37]
At recent prices of roughly $20 an ounce, $100 face value bags run about $1,530, which includes a 7% premium to the spot price of silver. [17] The $1,000 face value bags, of course, contain 10 times the number of coins as the $100 face value bags, with a small pricing advantage of 5% premium over spot silver prices. [17]
To use that time frame as a "benchmark" for silver's price relative to gold is short sighted at best. [28] The data which so offended so many is that the current ratio of the price of silver to the price of gold is higher now than it has been in the past 20 years. We pointed out that we own both silver and gold, but that we are reducing our silver holdings. [28] We recently published a short article presenting the 20-year history of the ratio of the price of silver to the price of gold, and our portfolio action in response to that data. It was quite totally trashed by the comments. [28]
Silver has gold beat hands down because the opportunity to invest in gold was back when the price was less than 40 dollars. [28] Over the weekend, spot gold and spot silver prices continued to move in the green. [19] Over the last month, gold has had a positive change of 2.75 percent and silver has been positive over that same time by 14.75 percent. Spot gold and Spot silver posted positive trends prior to open market this morning. [44] Spot gold and spot silver were trending in positive territory after close of the first trading session for the week. [39]
Midday European trading saw gold gaining 0.8% to come in at $1,430.90, with U.S. April futures up 1.1% to $1,431.40. [24] The U.S. dollar index is trading weaker again Tuesday morning, with the June futures contract falling to another new low. [36] In the week ended March 15, an index of managed-money net- long positions, or wagers on rising prices, in 18 commodities tumbled 14 percent from a week earlier to 1.27 million U.S. futures and options contracts, government data compiled by Bloomberg show. That'''s the biggest drop since the week ended June 29, and the smallest level of net-long holdings since August. [40]
U.S. crude oil futures were steady on Tuesday as supply concerns triggered by the spreading unrest in the Middle East supported prices, but uncertainty about demand from the world's No. 3 consumer Japan capped gains. [4] Sentiment will likely stay fragile as the situations in Japan and the Middle East remain '''fluid,''' Stefan Graber, a Credit Suisse Group AG analyst, said today in a report. Crude oil rose 1.9 percent to $103.02 a barrel, taking this year'''s advance to almost 13 percent. [40] Buyers emerged on Monday in U.S. stocks, enticed by the biggest proposed merger of the year, though crises in Japan, the Middle East and North Africa meant market volatility would continue. [4]
Stocks moved in a positive direction today due to progressive developments in Japan and also due to corporate merger news that investors interpreted as positive for the market overall. Contrary to these positive posts, news of increased action taken by the U.S. against Gadhafi continued to have a destabilizing affect on market trending. [37]
Stocks were hesitating Tuesday and so were gold and silver buyers as investors took Monday's rally as a profit taking opportunity. [20] Gold and silver "could be poised for further gains as investors seek to diversify towards safe-haven asset types with a mix of fresh buying and short covering potentially leading gold silver to retest recent highs," says James Moore, research analyst for FastMarkets. [26] Investors are also running out of safe places to put their money. The yen is typically a haven, but with G-7 nations buying up U.S. dollars and selling the Japanese currency to push down its value, that asset might provide less cover for investors, which makes gold more appealing. [27] Gold is seen as an alternative asset to the U.S. dollar and usually moves inversely to the American currency. [46]
Each share is about the equivalent of 1.0 ounces of silver in U.S. dollars. It seems to trade with a net asset value that boasts almost no premium or discount, and management fees are reasonably low - around 0.30% annually. [17]
For the time being, silver might continue a positive correlation with outside markets but it is also possible that silver prices will garner limited benefits from ongoing weakness in the U.S. Dollar. [18] The price of silver during the bulk of the 70's, 80's and 90's (save for during the Hunt brothers episode) was artificially low, despite the fact that during much of that time there was a structural deficit, i.e., the world was consuming more silver than was produced. During that period, the U.S. as well as other countries and central banks made up any deficit and then some by liquidating their stockpiles. Today, those stockpiles are essentially gone. [28]
For practical purposes, making allocation decisions with a 3 to 6 months time horizon, we think there is no need to look back beyond the 40 years since 1971, the year the U.S. went off the gold standard. This chart shows the silver-to-gold price ratio since 1971. [28] Market observers believe Tehran has been one of the biggest buyers of bullion over the past decade after China, Russia and India, and is among the 20 largest holders of gold reserves Last year central banks became net buyers of bullion after 22 years of large sales, helping drive gold prices to all-time nominal highs. [47]
The next chart shows the same pattern of silver outperforming gold, particularly in the recovery years after the 2003 stock market bottom, up through the heady days of 2007. [28] There has been growing appetite for gold and silver investments in India in the last few years and jewellery shops are opening across the countryside and cities every day. [30]
Mitra says one reason for the soaring demand for gold and silver is that Indians have correctly understood the great investment sense in bullion. He says India will continue to shine as the largest marketplace for gold and silver in 2011. [30] Not only that China imported 245 tons of the shiny metal in February. That's 7,840,000 ounces in a month! www.businessinsider.co. In January 6.4 million eagles were sold in a month. What this tells me is that is that investment demand is far beyond what any analysis is projecting. Hell these same analysis can't even track gold sells seeing how a story just broke about Iran buying huge amounts of gold on the open market and may now have more gold than the country of England. www.zerohedge.com/arti. [28] Gold demand in South India, the highest consumer in the country, is unlikely to be deterred by high prices of the yellow metal, which are currently hovering over Rs 21,000 per ten gram mark, according to experts. [48] A penchant for light gold jewellery amongst the younger generations in South India is generating high demand for the yellow metal in the region despite its prices hitting the roof. [48]
Despite the zooming prices, demand for gold and investments continues to surge in India. [30]
The US-led military coalition issued statements confirming the attacks had continued on Sunday, the second day of operations over Libya. The U.S. dollar fell against its major counterparts to the lowest level in 15 months, contributing to the strength of gold as safe haven investment. [16] Oil producing nations often use the U.S. dollars gained from oil sales to buy gold. This trend is increasing as the dollar weakens and concerns about the fiscal propriety of the U.S. government and Federal Reserve grow. [41] Gold got more support from a decline in the U.S. dollar, which hit 15 month lows against a basket of other major currencies. [46]
Contract gold and silver moved higher yesterday and ended the last U.S. session in in the green. [39] As of 03/11/11 the 12 reporting banks had 27% of all silver open interest (and 32% of all open gold contracts, 23% of all platinum contracts and 38% of all open palladium contracts, but only 7% of open copper contracts). They were 11:1 short:long for silver and about 4:1 short:long for gold (and 33:1 short for platinum and about 12:1 short:long for palladium, and about 1:6 short:long for copper). [28]
You are correct that the Bank Participation Report shows banks to be strongly on the short side for silver (as well as for gold, platinum and palladium -- but long on copper). [28] Concerns over Japan's devastation also fueled the gold bug, despite the fact that worries over nuclear containment are subsiding. Many were forced to sell gold in the past week to cover other positions in the wake of Japan's disaster, as they also abandoned high-risk investments, and analysts said that risk aversion could drive another round of selling under similar circumstances. Ole Hansen, Saxo Bank senior manager, said in the report, "It's happening against a backdrop of elevated uncertainty from numerous places, which should give these safe-haven type commodities a bid." He went on to add, "As long as we have this tendency toward risk aversion in the market, gold will be struggling. It's such a high percentage of the total investment in commodities, so if there is anything to be reduced, gold is often in the firing line in that respect." [24] "The current uncertainties are fertile ground for precious metals," a Commerzbank research note observed. The analysts also said they believed that gold as well as other key commodities are gaining ground on "expectations that western central banks could use the events in Japan as justification for maintaining their ultra-loose monetary policy." [14]
The continued crisis in Libya and the recovery efforts in Japan are expected to support an environment for gold and silver. [39] Goldman Sachs ( GS ) said Thursday that gold could trade to $1,480 within the next three months, which would be a 4% move. Redler is also testing the water with a small long position in silver. [10] Gold's trading remains above the support at 1,425.00 an ounce, where if breached it will pave the way for the pair to test the support at %1,410.00 an ounce, but the general trend remain to the upside with initial targets set at 1,435.00 an ounce and probably return to trade near the achieved record around $1,445.00 an ounce. [38]
RealMoney Silver: Get Doug Kass's exclusive trading diary + 4 of TheStreet's top premium services including Action Alerts PLUS and RealMoney -- all on one streamlined page. Stocks Under $10: Break into the market with small- and mid-cap stocks. all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. [45]
Silver XAG= gains nearly 3 percent, rising to $36.06 an ounce from $36.02 late in New York on Friday. [12] Palladium futures for June delivery dropped $1.60, or 0.2 percent, to $740.70 an ounce on the New York Mercantile Exchange. [32] Silver futures for May delivery gained 2.7 percent to $36.001 an ounce on Monday. [16] Silver futures for May delivery climbed 36.9 cents, or 1 percent, to $36.37 an ounce on the Comex. [32]
May silver futures last traded down 4.6 cents at $35.915 an ounce Tuesday. [36]
According to a recent Money Morning forecast, silver could reach $50 an ounce by the 2012 presidential election - a gain of more than 40% from here. Action to Take: If you would like some additional insights on strategies for investing in silver, take some time to peruse some of Money Morning's recent research reports on this very topic. [17] If things don't improve in Japan, Neglia still thinks silver will be range bound between $34 and $37 an ounce. [20] Typically, the $100 face value bags contain 1,000 dimes, or 400 quarters, or 200 half-dollars (the coin denominations are usually not mixed). Since these coins were in circulation for decades, wear and tear means they no longer contain 90% silver. They typically contain about 71.5 ounces of silver. [17] Silver for immediate delivery traded at $36.06 an ounce compared with the opening levels of $36.08 an ounce, while setting a high of $36.34 an ounce and a low of $35.87 an ounce. [38] Silver support at $33.50 an ounce, resistance at $36.00 and 14-day RSI at 63.50. [13]
Here's why: For several years leading up to the 2008 stock-market panic, it typically took 55 ounces of silver to buy an ounce of gold. [17] An important metric to understand and watch is the silver-to-gold ratio. It tells you how many ounces of silver it takes to buy one ounce of gold. [17]
James Moore, research analyst for FastMarkets, thinks gold and silver "could be poised for further gains as investors seek to diversify towards safe-haven asset types." [27] We have reduced silver in favor of gold. That is a basic rebalancing concept -- taking some off the top of those assets that do better, while committing more to those assets that lag -- a reversion to the mean concept. For some reason, a number were uncomfortable with a silver-to-gold ratio, because the convention they use is a gold-to-silver ratio. [28]
Spot gold was trending higher as last week came to a close and the precious metal safe haven asset was trending in the green through the weekend. Gold is expected to move higher over the next several months and continue its positive movement. [44] NEW YORK (Dow Jones)--Gold futures fell slightly Tuesday as easing tensions about the Libyan conflict and Japan's nuclear crisis lessened investor desire for the refuge of the precious metal. [42] European stock index futures pointed to early gains, lifted by reassuring news about Japan's nuclear crisis and on prospects of a swift military campaign in Libya. [13] Stock futures were posting in the green prior to opening bell this morning and index composites continued positive trending through the whole of the day. [37]
Stock market index trend lines moved in a somewhat choppy and unpredictable fashion this week due to the political turmoil and pockets of violence flaring throughout the world. Precious metal price trends moved in a similar fashion as well this past week. [19] The extent of the military action by French, British and U.S. forces appears to have taken some market participants by surprise, and, combined with Libyan leader Moammar Gadhafi's defiant response, sent oil prices up sharply, in turn helping precious metals post gains. [49] The rising oil prices and inflation potentials made investor anxieties grow, thus making the safe haven metals a more popular investment choice. [39] Worries about the disruption of crude supply are expected to underpin oil prices, even though some investors were taking profits in anticipation of a slowdown in air strikes against Libya. [50]
In other trading, oil prices rose as analysts warned Libya's oil exports could be off the world market longer than expected. [11]
In other Nymex trading for April contracts, heating oil added 2.82 cents to settle at $3.0525 per gallon, gasoline rose 4.8 cents to $2.9974 per gallon and natural gas fell 0.7 cent to $4.161 per 1,000 cubic feet. [11] Copper contract finished in the green as well by 1.46 percent at $4.20 per pound. [19]
Immediate-delivery bullion added 0.6 percent to $1,427.88 an ounce, about 1.2 percent below the record $1,444.95 reached on March 7. Allied officials said attacks by the U.S., U.K., Italy and France have grounded Muammar Qaddafi'''s air force and driven back his offensive against the rebel stronghold at Benghazi. [40] Gold touched a record $1,445.70 an ounce on March 7 as protests ousted leaders in Egypt and Tunisia and spread throughout the region. [32] Gold support at $1,400 an ounce, resistance at $1,440 an ounce and 14-day RSI at 58.83. [13]
Spot gold XAU= was bid at $1,427.61 at 0736 GMT from $1,419.57 late in New York on Friday. [13] With oil and foreign exchange markets were also indecisive, volume thinned with gold only moving in a $4 range. [51] Crude oil rose as much as 2.3 percent today, while gold climbed for a fourth day and copper gained. [40] April gold was higher by.73 percent at 1426.40 and May silver was higher by 2.69 percent. [39] I would sell to lock in profits, but then lost ground on the re-purchase as gold and silver climbed back up above my sell price. [28] "Gold is still the chosen haven for European and Far and Middle East investors," say George Gero, senior vice president at RBC Capital Markets, "but open interest has not grown either in gold or silver as gold barely is at 500,000 and silver is still under 135,000," which points to a lack of longs in the market. Tepco has reconnected power to six of its dying reactors, which now have access to cooling measures. [26] "Obviously the tensions in the Middle East, coupled with the significantly weak dollar against the euro, help give gold the current boost," said Darren Heathcote, head of trading at Investec Australia. [5] "The Middle East is going to take time to sort out, so gold is well-supported by the ongoing tension," said Matt Zeman, a market strategist at Kingsview Financial in Chicago. [32]
We expect it to hold current levels or show a weaker bias in New York today. Is there more to the Middle Eastern 'revolutions / demonstrations than meets the eye in the context of the world economy and future events? The success of 'the people' in Tunisia and Egypt has been remarkable and even more so when you consider that these have been regions that have been 'tranquil' for 40 years or so then in the space of a couple of months we are seeing attempts to topple seven governments two of which have been successful to date. The principle that government is subject to 'the will of the people' is a major departure from the Middle East concept that governments are fully dominant over their own people. [8]
Gold took a lesser hit, and then continued upward. It appears to us that silver is even farther out ahead of gold now than it was in 2007, and it also appears that the world economy may not be growing or expected to grow as fast in the next year as was the case a few months ago. [28]
Gold and silver imports by India are set to touch record levels in 2011, according to early data compiled by the World Gold Council (WGC) and the Bombay Bullion Association. [30] "Premiums on physical gold are rising as domestic stocks have been low after Japanese households had been selling their holdings late last month and early this month when prices were rising," said Akira Doi, vice-president at bullion house Daiichi Commodities Co. [35] Comex Gold Stocks were unchanged at 11.028 million ounces. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CST) While equity markets in Asia and Europe are generally higher this morning, early indications are for the U.S. stock market to open today's session with moderate gains. [9] Silver stocks have declined 11 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) While equity markets in Asia and Europe are generally higher this morning, early indications are for the U.S. stock market to open today's session with moderate gains. [18]
Silver for May delivery also climbed 94.3 U.S. cents, or 2.7 percent, in the day to close at 36.001 dollars. [22]
• First and foremost, during intense bull markets in silver - like the one we're experiencing right now - junk silver tends to outshine (and outperform) silver bullion. • But if some of investors' darkest fears are realized, and the U.S. government's overenthusiastic printing of money were to transform the greenback into so much worthless paper, then 90% of U.S. silver coins would be used for the purpose they were originally minted - as money that can be spent. [17] If you're looking to build a silver stash - either large or small - bullion dealers may be the easiest way for investors to do so. Do your homework first, and check them out before you buy. [17]
SINGAPORE (Dow Jones)--Gold and silver were steady in Asia Tuesday, with uncertainty over Libya and Japan keeping investors guessing on near term direction. [51] Investors were purchasing gold as protection against the continued uncertainty in Japan and in Libya, where the U.N. has conducted airstrikes. [27]
SINGAPORE (Reuters) - A scramble by Japanese investors for safe havens after a deadly earthquake has pushed physical gold premiums to three-year highs as buyers in less affected parts of the nation stretched supply, unleashing a trend that could give a lift to world prices. [23] Generally weaker commodity market prices on Tuesday, including crude oil, are also a negative factor for the precious metals. While the markets, in general, do have a calmer disposition Tuesday morning, the recent unsettling market events of the world have not gone away, nor will they. This is keeping a bid under precious metals market prices and limiting selling interest among traders and investors. [36] Lastly, and perhaps only to be found among precious metals cultists, some suggested that the article was part of a short-selling conspiracy attempting to profit by driving down the price of silver. [28] • If you're new to precious metal investing and would like a primer, check out Special Report: How to Buy Silver. • For a more-specialized silver strategy focusing on so-called "junk silver," take a look our special report: Though it's Called "Junk Silver," the Profits Aren't Trash. [17]
U.S. dollar index bears have the solid overall technical advantage, which continues to be an underlying bullish factor for the precious metals markets. [36] The U.S. dollar index, which tracks the performance of the currency against six-majors, traded at 75.34, compared with the opening levels of 75.44 while setting a high of 75.50 and a low of 75.29. [38]
The yen was broadly softer on Tuesday recognising the risk of intervention, while the U.S. dollar skidded on almost everything else as investors embraced leveraged risk trades in stocks and commodity-linked currencies. [4] '''The situation in Japan prompted a lot of investors to take profits after a fairly good run in commodities,''' said Brian Hicks, who helps manage $3 billion at U.S. Global Investors in San Antonio. [40]
Oil continues to trade above $100.0 a barrel on MENA's unrest. The Group of Seven decided last week to intervene in a coordinated and cooperative manner into the Forex market selling the Japanese yen against the dollar as an attempt to help the Japanese economy and work to reduce the value of the yen, which reached its highest level since the Second World War after the devastating earthquake that hit Japan On March 11 which caused the emergence of the possibility of a nuclear catastrophe. [38] Thinly traded front-month March gold also gained $10.30, to $1,426.20. [31] Gold usually benefits from periods of heightened risk aversion, but since the Japanese earthquake, which struck on March 11 and is feared to have killed over 20,000, the price has fallen by more than 3 percent. [1] Trading Central do however suggest that further rises in the gold price are possible should the price hold above 1424 where intra-day support can be found. [6] Gold prices rallied Monday but without a lot of oomph. "It becomes harder and harder as we seize higher prices for funds and for speculators alike to actually buy the high prices," says Brian Booth, senior market strategist for Lind-Waldock. [27] In the euro, the gold price has fallen slightly over yesterday afternoon. This is not a sufficient move that should prompt a comment. [8]
Why we target 5% is a different topic and we may discuss that at some other time in the context of an allocation discussion, but it does not relate to our particular reasons for discussing silver and gold alone. [28] Silver has a greater industrial use than gold and can respond more forcefully upward to GDP growth, or the expectation of growth, than gold. [28] We said silver was not the long-term place to be, and should have said that we hold that view because of silver's industrial use sensitivity versus gold's more pure money alternative status. [28]
"$38 price target is my lift off for $40 and beyond." Silver closed at $36 Monday, just 4 cents shy of its 31-year high. [20] The price of silver at 50 means nothing because off the Hunt brothers buying; however the current price is realistic with a multi year price suppression scheme of a magnitude many times greater than Hunts. [28] We think the 1979 ratio should be ignored as it was a buying climax manipulated by the Hunt brothers attempt to control the silver market. That year might be a good example of how vertical price moves tend to resolve in an equally stunning collapse. [28]
Of the substantive comments, there were primarily two types. That, they pointed out, would make the ratio difference between current prices versus the last 20-year average irrelevant. A second type asserted that with a finite amount of silver on earth, and a rising demand, that someday the supply-demand squeeze would cause the price of silver to rocket upward, making the ratio of the price of silver-to-gold irrelevant. Another non-substantive type, simply stated that in the long-run silver had a long way to go up, this making the ratio of the price of silver-to-gold irrelevant. [28] U.S. Treasuries prices fell as progress in solving Japan's nuclear crisis reduced safe-haven demand. [2] The yellow metal has enjoyed support from strong safe haven demand amid Japan's nuclear crisis and the turmoil in Libya, where Allies seem to be divided on what steps should be taken next. The North African country's long time ruler Muammar Gaddafi is believed to have fled Tripoli after his compound was bombed by Allied forces. He is yet to make a public appearance since the coalition launched air strikes on Libya on Saturday. It is not clear how the coalition will proceed and whether Gaddafi will be a target. It is also unknown what will become of Libya once the operation is over, even if Gaddafi is removed from power. [46] Copper up slightly in subdued trade, caught between prospects of demand for industrial metals to rebuild Japan's infrastructure and concerns about conflict in Libya and the Middle East. [25] Perhaps most significantly, ETF holdings have been on the rebound for the past month having fallen precipitously since peaking in late December, hinting investment demand is turning increasingly healthy amid lingering uncertainty about the situation in Japan as well as the Middle East. [43]
Don't be surprised to see new, unexpected and market-moving twists and turns regarding the Middle East and Japan situations, which will continue to be closely eyed by all traders. [36] Commodities traders are concerned about global oil supply disruptions because of anti-government clashes in Libya and other parts of the Middle East and North Africa. [11]
Less macro economic concern from the Japanese and Middle East situations seems to have benefited physical commodities and that in turn gives the silver bull's periodic confidence. [18]
Simply buy units of the iShares Silver Trust ETF (NYSE:SLV). With some $5.5 billion in assets, SLV is the world's largest silver-backed ETF, with JP Morgan Chase & Co. (NYSE:JPM) in London as its custodian. [17] By now, support should be established at $1,405 and $1,380. Silver bulls will want to see the metal close above $36.00, and this should set it up to make a fresh 31-year high very soon. [6] According to commodities brokerage Karvy Comtrade silver imports by India soared more than six times to $1.7 billion in the first-half of 2010. [30] Brent crude for May LCOc1 earlier touched a $115.50 earlier -- less than $5 from a 2-1/2-year high near $120 hit last month. It was last at $114.73. "It now seems likely that there will be a significant loss of Libyan oil supplies for some time," said Ric Spooner, chief market analyst at CMC Markets. "This will reduce the buffer of excess capacity and increase the oil market's vulnerability to any new supply shocks which may emerge." [50] Reuters reported that oil was up $2 per barrel after the launch of a second wave of air strikes on Libya by the West. [24] Crude oil prices have once again regained upward momentum on news of western air strikes on Libyan forces still loyal to Colonel Gaddafi. This situation is bullish for crude oil prices, and will likely lead to renewed strength across the whole commodity complex owing to oil'''s essential role in the harvesting and extraction of other commodities. [41] In the meantime high oil prices will drive even more corn into our gas tanks.Make sure you are getting all the latest news by tuning into the Fox Business Network where you can see me every day. [7]
With the oil price holding high ground, that market is confirming that it shares the same opinion. [8] Oil prices rallied and many markets moved in what some have called a "fear premium." The truth is that it's really the move beyond fear. [21]
Bulls' next upside price objective is producing a close above solid technical resistance at the March high of $36.745 an ounce. [36] The prices rose to $36.745 on March 7, marking the highest level since March 1980. [16]
May copper ended higher by 3.49 percent with a floor price of $4.34 per pound. [19] May Copper finished with a negative floor price that was lower by.053 at $4.29 per pound. [37]
Commentary: Crude prices pushed back above the $102 figure as the escalating conflict in Libya continued to send jitters through the markets. [43] Oil was traded at around $102 a barrel on Tuesday in Asia, as traders remained cautious over the coalition intervention in Libya that could extend the shutdown of oil exports from the OPEC nation. [16] Oil jumped by more than $2 on Monday, with Brent above $116, after the military action in Libya. [3]
Spot platinum gained for a third day, adding as much as 0.8 percent to $1,736.80 an ounce. [40] Platinum XPT= rises by nearly 1.5 percent to $1,738.74 an ounce from $1,717.50, benefitting from the strength across the commodities complex, while palladium XPD= rallies 2 percent to $743.97 from $728.00 on Friday. [12] Platinum for April delivery fell $6.20, or 0.4 percent, to $1,738.70 an ounce on the Nymex. [32]
Technically speaking, the metal's trend remains to the upside as far as the support at $1,390.00 an ounce remains intact and the dollar continues to weaken, while the 100-day MA support level is set at 1,374.00 an ounce. [38] Bullion for immediate delivery rose to $1,429.69 an ounce compared with the opening levels of $1,426.67 an ounce, while setting a high of $1,431.25 an ounce and a low of $1,426.04 an ounce. [38] April platinum added $21.50 to $1,744.90 an ounce and June palladium rose $11.10 to $742.30 an ounce. [11]
In currency markets the euro EUR= hit $1.4249, its highest since November, boosted by expectations the European Central Bank will raise interest rates next month, which prompted demand from longer-term "real money" investors. [50] The European Central Bank is already hinting it will hike interest rates in April after a 2.2% inflation reading. Gold mining stocks, a risky but profitable way to buy gold, were choppy. [45] The Libyan central bank ''' which is under Colonel Gaddafi'''s control ''' holds 143.8 tonnes of gold, according to the latest data from the International Monetary Fund, although some suspect the true amount could be several tonnes higher. [52] Before violence broke out the gold was stored at the central bank in Tripoli. Since then it may have been moved to another location, such as the southern city of Sebha - within reach of the borders with Chad and Niger." It is not just Iran or Libya. [7]
Interestingly, Iran ''' the fourth largest producer of crude oil and the nation reported to have the third-highest proven reserves of oil ''' appears to have been one of the biggest recent OPEC buyers of gold. As reported by the Financial Times yesterday, a diplomatic cable obtained by Wikileaks dated June 2006 reported the Bank of England'''s observation of '''significant moves by Iran to purchase gold��� as a means of protecting its reserves from the risk of seizure. [41] Good discussion. It does seem that you are spending a lot of time worrying about rebalancing something that is only 5% of your portfolio. How prudent it that? Perhaps with this small amount you should just let your winner run until it is proven the bull run is over? Maybe we would be better served if discussed why 5% is an appropriate allocation to PMs as a starting point vis a vis protection against fiat currencies. 5% would seem to indicate you do not perceive this as a big risk or am I reading too much into this minor allocation? Unrelated to this specific point but part of your article I do not understand why you say we should ignore the coin "hoarding". This seems like just another way for the poor folk to own the PMs just like the typical Asian family buying a lot of gold jewelry as an investment. [28] Wadhera further added that sale of gold coins and bars in terms of investment is also picking up in South India. On the decision to impose one per cent excise duty on branded jewellery in General Budget proposals, he said, "It is not a right step as this discourages people to launch branded jewellery". [48]
TOCOM gold edged up 0.4 percent at 3,733 yen per gram, after the market returned after a holiday on Monday. [4] Spot gold per gram is higher by.37 at 45.90 and spot gold per kilo is higher by 374.88 at 45897.12. [44] Spot silver per kilo is higher by 24.27 at 1151.48 and spot silver per ounce is higher by.75 at 35.82 an ounce. [44] Following WWII, the U.S. held a stockpile of almost 10 billion ounces of silver. [28] India has emerged as the third largest industrial user of silver in the world after U.S. and Japan. [30] Junk silver consists of U.S. quarters, dimes, and half-dollars minted before 1965, since coins struck before that time contain 90% silver and 10% copper. [17] As for coins, that is just my point. Coin fabrication is more based on investment issues than on "fabrication" issues as they relate to world commerce, and therefore, when someone says demand outstrips supply in what seems to be a discussion of the "need" for silver to make the product world go around, coins should be out and lumped in with other forms of investment demand as opposed to the demand to make other things. [28] The point would be more clear, I suppose if all investment silver were in ingots, but some is in coins and that is demand that is not essential for the functioning of the world of commerce - of course you might say the same about jewelry as a hoarding vehicle, but I would be at a loss to know how to separate decoration from investment -- and definitely don't want to pick a fight about whether jewelry is "necessary" with the gentler sex who consume the vast majority of jewelry. I am certain however, that silver coins are merely a form of investment or store of money value, and not a kind of fabrication that is essential for commerce to function (except of course in the view of those dealers who make their living promoting and selling coins). [28]
If you remove the coinage aspect of use demand, it is of the same character as bulk investments, the 2009 mining plus recycling supply was 875.3 million ounces, while the use demand (fabrication) excluding coins was 651.1 million ounces. [28] Mine production supply is up 120 million ounces over ten years, while use demand is down 160 million ounces. [28]
Readers who took our advice have reaped a 50% return since then. Those investing should remember, the physical silver market is small, with annual demand of slightly less than 900 million ounces. [17] Industrial demand for silver in India is in the range of 1300-1500 tons per annum, the bulk of which is in pharmaceuticals, plating, electrical, foils, jari, soldering and brazing. [30]
"Gold buying trend in south India is changing with times as the younger generation is more inclined towards light and modern jewelleries, which has been in demand more in northern states," said Sumesh Wadhera a gold expert who is running a specialised magazine on the sector. [48] Hopes of progress in averting a nuclear disaster at a Japanese power station damaged by the earthquake and subsequent tsunami 10 days ago helped soothe the equity markets, but there remained enough doubt over the longer-term hit to the world's third largest economy to encourage buying of gold. [25] The dollar was losing strength as the yen shot up higher and gold futures were on the rise once again. Gold and Copper pushed into the green this day. [19] The dollar fell versus the euro on Friday and gold futures for April delivery moved higher. [19]
Without the catalyst, Lou Grasso of Millennium Futures is trading gold very cautiously. [20] Positive action continued through the trading session yesterday as investors sought out the safe haven appeal of gold. [39]
Booth is convinced that gold will still head higher especially with bad headlines coming out of Japan and Libya, which will draw traders back into the gold market. [27] The gold trade is not without risk as QE2 is coming to an end and China and Japan's trade surpluses are likely to shrink,'' but we do believe the short term direction is north and a new high is likely in the next few weeks.'''''''' [47] In the west of Japan, households' buying of gold has generally picked up after the quake." [35] "If the dollar/yen stabilizes and a clear trend emerges that the dollar has hit a bottom against the yen, then that may spur gold buying from households looking to get bullion cheaply," said Koichiro Kamei of financial research firm Market Strategy Institute, adding that the G7 action could also lift the international gold market. [23] Gold usually moves inversely with the dollar as commodities are a dollar weighted index. [38] Gold's traditional negative correlation to the dollar has strengthened since the Japanese earthquake struck 10 days ago. [2] Bankers said other Middle Eastern countries had also been quietly adding to gold holdings to diversify away from the dollar amid political tensions and volatility in currency markets. [47]
Gold is a highly sought-after precious metal which, for many centuries, has been used as money, a store of value and in jewelry. [46] The metal occurs as nuggets or grains in rocks, underground "veins" and in alluvial deposits. Modern industrial uses include dentistry and electronics, where gold has traditionally found use because of its good resistance to oxidative corrosion. [46]
'The silver price is increasing at an unsustainable rate, which historically for any security tends to precede a strong correction.' You seem to use words very loosely to back up your technical assertions. [28] Two things come out of the Bank Participation Report for us: (1) the potential for a significant short squeeze is there for the banks, (2) we at least have some institutional company in having some concerns about short-term sustainability of the rate of change of silver prices. [28] Not only the COT; the Bank Participation Report too. The commercials taking the short side is indeed a natural position; but when the 8 largest commercials are short nearly five months of annual silver production, such concentration can lead to explosive moves if they are forced to unwind it hurriedly. [28]
U.S. Energy Secretary Steven Chu said the Obama administration believes the worst of the crisis is over. It may take five years for Japan to rebuild after the earthquake and tsunami, which killed at least 8,450 people and destroyed thousands of buildings, the World Bank said in a report today. [40] U.S. economic data due for release Tuesday includes the Goldman Sachs weekly chain store sales index, the Johnson Redbook weekly retail sales report, the monthly housing price index and the Richmond Fed business activity index. [36] The market will watch the U.S. Federal Housing Finance Agency (FHFA) home price index for clues to the health of the U.S. housing sector, a major part of the national economy. [2]
Any food shortages will most likely force global food prices higher, something already crippling emerging market economies. Food Price Watch said that the World Bank's food price index grew "15% between October 2010 and January 2011 and is only 3% below its 2008 peak." [26]
'''Supply issues seem not to be going away in the short term.''' Commodities measured by the index gained 0.2 percent last week, even after Japan '''s worst recorded earthquake, tsunami and ensuing nuclear crisis prompted its worst daily loss since July 2009 on March 15. [40] Most motivating however was the progress observed in Japan and stock index composites finished the day well above break-even. [37] Bernanke would have to stop printing money, which is keeping the stock market afloat for now. It may not be enough to offset diminishing returns we will see in 30 days when the global supply chain fails thanks to JIT manufacturing in Japan. No one wants to admit this will happen until is does and company profits fall through the floor. [28] A huge rebound in the Japanese stock market should get oil traders salivating over the rebuilding phase of the operation in Japan. [7]
Stocks had an even better day, as AT&T;'s (T ) $39 billion buyout of T-Mobile jumpstarted the market. [27] Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. [27] Data showing China's February imports of refined copper fell to a 27-month low because of holidays in the shortest month of the year and high inventories, pinned back prices of the metal used in construction and power. [25] You understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. [46] There is a substantial risk of loss in trading futures and options.Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc. [7] On Monday oil had gained about 1%, but analysts said that the market has now accepted that Libya won't be much of a source for oil in the near future. Edward Meir, senior commodities analyst at MF Global, said in the report, "Short-term, we suspect that the crude oil market is somewhat overextended here, as the fighting in Libya will lose its ability to spark the market higher. [15] The action sets an important precedent for future Western involvement in similar scenarios, particularly as protesters face a harsh response in Bahrain. That uprising is seen by many as a trial run before something similar is attempted in Saudi Arabia, the world's top oil exporter, and the path for the WTI contract appears to lead higher as long as the possibility that the Kingdom co uld end up looking like Libya remains alive. [43]
Gold has gained on rising geopolitical tensions after a series of U.N. -authorized Western air strikes against Libya's Muammar Gaddafi, which Russian Prime Minister Vladimir Putin said resembled "medieval calls for crusades." [2] For all practical purposes, investors have reconciled themselves with the fact not much oil will be flowing out of Libya anytime soon." [15]
Benchmark West Texas crude for May delivery added $1.24 to settle at $103.09 per barrel on the New York Mercantile Exchange. [11] Copper gained 0.4 percent to $9,550 a metric ton on the London Metal Exchange. [40]
Minimums are $10,000 USD for your initial PMC purchase, with minimum subsequent purchases at the $5,000 USD level. If you hold your coins, bars, and bullion on an unallocated basis, they can be converted into specific coins or bars and you can then take delivery, if you wish. [17] The term junk silver was adopted because the coins being referenced typically have no collectible value. Junk-silver coins are valued for the bullion value of the silver that they contain. [17]
Cattle and hogs look very bullish, and high corn prices are causing ranchers to cull the herds as demand is rising in Japan because of concerns over radiated foods. [21] JPMorgan in a note said: "A resolution to the Japanese nuclear crisis would be bullish for crude prices near term as it would shift the focus to Japan's reconstruction." [50]
The Standard & Poor'''s GSCI Spot Index of 24 commodity futures increased as much as 1.5 percent and was up 1.3 percent at 710.94 as of 3:37 p.m. in Singapore. [40] The pan-European FTSEurofirst 300 index of top shares was up 1.6% at midday, with the MSCI world share index up 0.7% and U.S. futures looking toward a strong open; the S&P; 500 was up 1.2% before open and Dow futures were up 1%. [24]
The S&P; GSCI index closed trading at 707.69; higher by 5.52 percent, while the RJ/CRB commodity index closed at 353.24, after gaining 2.09 percent. [38]
• Kitco.com: Premiums are fair, and the selection is usually quite good. They have offices in both New York and Montreal. • Asset Strategies International Inc.: This dealer is located in Rockville, MD. Asset Strategies also offers storage options outside U.S. borders. [17] We currently target about 5% of assets in precious metals as a general rule. [28] The escalating interest in precious metals brought about by the rapidly accelerating fears about the U.S. economic outlook has generated a real increase in worries about gold-and-silver confiscation. [17]
The relationship likely owes to the move lower in the U.S. Dollar, which has de-facto bolstered the yellow metal. [43]
SOURCES
1. Gold rises as Japan, Mideast worries persist | Reuters
2. Gold comes within a whisker of its all-time high - The Globe and Mail
3. PRECIOUS-Gold rises after western powers strike Libya | Reuters
4. PRECIOUS-Gold steady on weak dollar; Middle East, Japan eyed | Metals & Mining | Reuters
5. PRECIOUS-Gold rises on growing Middle East tensions, weak dollar | Metals & Mining | Reuters
6. Gold price: More upside seen today - The Economy News
7. The Energy Report - Beyond The Fear - NASDAQ.com
8. Gold and Silver's Daily Review - GoldSeek.com
9. Morning Gold Market Report for 3/22/2011 - NASDAQ.com
10. Gold Prices Gain on Rising Uncertainty - TheStreet
11. Silver, Gold Rise as Global Uncertainty Continues - ABC News
12. Gold rallies nearly 1 pct, boosted by safe-haven bid | Metals & Mining | Reuters
13. PRECIOUS-Factors To Watch on March 21 | Metals & Mining | Reuters
14. Gold, Silver Mining ETFs Soar; Is Top Looming In Futures Prices? - Focus on Funds - Barrons.com
15. Gold Up, Oil Dips as World Reacts | Advisor One
16. Gold gains for fifth consecutive day on safe haven demand - Commodities & Futures
17. Special Report: How to Buy Silver - Money Morning
18. Morning Silver Market Report for 3/22/2011 - NASDAQ.com
19. Today'''s April Contract gold May Contract Silver, Copper Price Per Ounce Pound Rates; Precious Metal Week's Review News March 20th, 2011 : Learning and Finance
20. Gold Prices Back Off Highs as Silver Moves Higher - TheStreet
21. Oil and gold rally, moving beyond fear - Commodities - Futures Magazine
22. Gold hikes for fourth straight day
23. Analysis: Premiums rise as gold regains luster in Japan | Reuters
24. Oil, Gold, Stocks Rise on Libya, Japan | Advisor One
25. Gold rises as Libyan strikes continue | Investing | Financial Post
26. Gold Prices Gain on Rising Uncertainty - TheStreet
27. Gold gains on continued uncertainty- MSN Money
28. Rebalancing Silver and Gold Weights Within a Precious Metals Allocation - Seeking Alpha
29. Gadhafi's Gold : Planet Money : NPR
30. Silver lures Indians as gold goes ballistic | 22 March 2011 | www.commodityonline.com
31. PRECIOUS METALS: Gold Gains Amid Libya, Japan Uncertainty - WSJ.com
32. Gold Fluctuates in New York on Libya, Middle East Tensions - Businessweek
33. Silver, gold rise as global uncertainty continues - BusinessWeek
34. Stronger yen spurs gold buying: strategist - Market Junkie - MarketWatch
35. Analysis: Premiums rise as gold regains luster in Japan | Reuters
36. Comex Gold trades lower on profit taking, consolidation | 22 March 2011 | www.commodityonline.com
37. Today'''s April Contract gold May Contract Silver, Copper Price Per Ounce Pound Rates; Precious Metal Market News March 21st, 2011 Close : Learning and Finance
38. Fundamental Precious Metals (2011-03-22) - Forex
39. Spot gold and Spot Silver Prices; Gold and Silver Contract News, Gold Silver Review; Precious Metal Investing News March 22nd, 2011 : Learning and Finance
40. Commodities Gain for Fourth Day as Oil, Gold Buoyed by Middle East Turmoil - Bloomberg
41. Iran Confirmed as Big Gold Bullion Buyer | Politics and Economics Right Side News
42. PRECIOUS METALS: Gold Futures Ease As Global Fears Wane - WSJ.com
43. Forex @ DailyFX - Crude Oil Gains on Libya Crisis, Gold Investment Demand Rebounding
44. Spot gold and Spot Silver Prices; Gold and Silver Contract News, Gold Silver Review; Precious Metal Investing News March 21st, 2011 : Learning and Finance
45. Gold Prices Back Off Highs as Silver Moves Higher - TheStreet
46. Gold holds steady amid Libya, Japan uncertainty, weaker US dollar - Proactiveinvestors (UK)
47. Iran and Middle East Big Buyers of Gold
48. Price no bar as GenNext buys gold
49. PRECIOUS METALS: Gold Up In Asia After Libyan Military Strikes - WSJ.com
50. GLOBAL MARKETS-Japan market recovery helps shares bounce back | Reuters
51. PRECIOUS METALS: Gold Steady In Asia; Libya, Japan Uncertainty - WSJ.com
52. FT.com / Middle East & North Africa - Gold key to financing Gaddafi struggle
GENERATE A MULTI-SOURCE SUMMARY ON ANY SUBJECT IN SECONDS! - Use a bunch of the powerful iResearch Reporter tools from Power Text Solutions.
Try out this innovative free service today! |
|  |
|
