Friday, March 28, 2008
Euro Touches 1.45 After FOMC
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Friday, March 21, 2008
Gold prices shine once again — but investors are advised to limit exposure
But as an investment, its superiority depends on which side of the fence you sit on.
Traditionally, financial experts and those on Wall Street shy away from the precious metal.
"Good luck trying to out-guess a gold market that is purely speculative," some say.
Gold dealers say hogwash.
"If you feel the economy is headed for the pits, then you should assume gold is headed to the heavens," is their counter.
For now, the pro-gold side has the numbers to back its claim. At the start of 2000, an ounce of gold was $282.05. At the beginning of 2007 it was $639.75. And just two months into 2008, gold has reached record highs. On Friday, it closed at a record-high of $973.50.
"Wall Street has to start changing its opinion with the way gold prices are going up," said Michael Kosares, author of "The ABCs of Gold Investing." "I feel there's always a market for gold."
Not to be mistaken with gold stocks or commodities, the purchase of gold coins or bars is seen by those who own them as comforting during a time when the U.S. economy is filled with uncertainty.
The feeling among numismatists is that gold is worldwide tender and is "good as cash." If the U.S. dollar goes sour, you can liquidate your gold regardless.
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Thursday, March 13, 2008
Only Gold Can Beat the Credit Crunch
Of course - to any Wall Street power broker, economist, or US policy maker, this headline means the equivalent of "Only Space Aliens Can Halt Teenage Pregnancies". In other words, it's a total non-sequitur to them.
So what? Who cares about Wall Street, economists, or politicians? Individual investors, business owners, workers, fathers, mothers, and college students, they are the ones who must survive if the United States is to survive the mounting credit collapse more or less intact. Why worry about those who caused the mess?
The point is that Wall Street or US politicians cannot and will not save investors. They are not concerned with investors, only with themselves. Investors must save their own little selves - and the only way to do that is by jettisoning the world of contracts, paper, and electronic currency blips.
In other words: in this mounting flood, better not wait to get bailed out. Start swimming, find something that still floats - and hang on to it for dear life!
Gold investors, on the other hand - or what usually goes under that name - are having their own problems. Their favorite paper plays - gold stocks and mutual funds - are under siege as well. Big time.
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Wednesday, March 5, 2008
Gold Nanoparticles Shine Brightly in Tumors
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Wednesday, February 27, 2008
Gold Price Skyrockets, Reaches Record Highs
Scott Isaacs, jeweler, said, “Four years ago people were saying gold would hit $1,000 [an ounce], I thought they were crazy.”
Although Scott Isaacs of Belle Meade Jewelry and Repair didn't foresee the $1,000 mark, he did know that gold would hit record highs.
At last look, gold was trading at $930 an ounce. When Isaacs entered the jewelry business, he said, gold was $285 to $300 an ounce.
The spike happened in 2006, when Isaacs priced a gold bracelet at $900.
Today, he could very well price it at $1,500, which he said a lot of jewelry stores are...
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Monday, February 25, 2008
Gold Approaches Record Levels
(RTTNews) - The price of gold turned higher again on Wednesday in U.S. trading and approached a record high. Gold for April delivery moved to $939.60, up $9.80 on the session. Prices moved to as high as $941.40 in mid-day trading, just off the record high of $942.20 from Jan. 30.
Gold had fallen in overnight trading amid a bout with profit-taking but trended higher throughout the day. April gold moved as low as $916.10 in the early going before the comeback.
The metal soared on Tuesday and closed at a three-week high on a strong day for metal futures. April gold climbed to $23.70 to finish the session at $929.80. The precious metal moved to as high as $934.40 earlier in the day. The precious metal's hedge value received a boost as the greenback saw further strength against the euro.Read More
Wednesday, February 20, 2008
PRECIOUS METALS: NY Gold Seen Down $4, Silver Down 12 Cents
NEW YORK (Dow Jones)--April gold futures are expected to open floor trading in New York around $4 an ounce lower Wednesday, based on electronic activity ahead of the pit session at the Comex division of the New York Mercantile Exchange. March silver is expected to be down 12 cents an ounce.
At 7:56 a.m. EST, spot gold was trading down $5.50 to $922.10, while the April futures on the Chicago Board of Trade were down $4.30 to $925.60 an ounce.
Precious metals were trading lower overnight as some profit-taking pulled platinum down from the record high hit in the previous session and gold also fell.
In other markets that have the potential to impact metals in the short term, the euro is down to $1.4653 from $1.4725 late Tuesday afternoon. In screen trading ahead of the pit open, the March S&P 500 futures are down 12.60 points to 1,342.80.
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