Morning: As policy-makers proclaim that they have managed to avert another meltdown, the markets begin the week simmering at a modest temperature. Commodities are mostly down this morning (silver down 2% to $30.91) while the Dow, Ftse 100 and Cac are in the green for
the time being. Oil is up 0.48 % at $105.91.
Gold and Silver News October 10, 2011 06:47 AM
Uploaded by GoldMikeMaloney on 10 Oct 2011
Evening: The majority of popular markets remain in the green after Monday trading as short term sentiment remains robust. Major indices continued to rally throughout the day as Europe's leaders pledged to ensure a timely resolution of the Eurozone debt crisis. The Dax showed the most gains today in the region of 3%. The majority of UK banks closed up today with Barclays Plc, RBS and Standard Chartered Plc seeing gains in excess of 4%. Both gold and silver were lifted by approximately 1% and 3% respectively, while the oil price remains near the $105 mark.
Bad news for the UK Pound and global economy, better news for the US Dollar.
We are seeing a repeat of 2008 as investors continue to purchase US Dollars and bonds. This has resulted in a temporary thinning out of support for gold (and silver). The popular media is once again tugging at the emotions of the public as far as these precious metals are concerned. During the widespread sell-off of global stocks and commodities, the media was far from supporting gold as a hedge against economic turmoil. In fact they asserted that gold may no longer be a good investment, even near the $1,500 mark.
Now the media is back on top form, with newspapers asserting the importance of gold for anyone looking to protect their wealth. Why the sudden change of heart? I would not be surprised if we see gold anywhere between $1800 and $2000 by year end. However, my fear is that this would be a premature upside movement that prevents a more solid base from being built in the global physical market.
I believe that it would be better for long term gold and silver investors if we where to see modest increases in price as we approach the year end, with prices near say $1,700 and $35 respectively. This would allow both amateur and experienced bullion investors to make further acquisitions which would support healthier growth into 2012 and beyond. While seeing $2,000 gold and $50 silver by 31 December 2011 would be good for my own portfolio, I believe this would cause cracks to appear further down the line.
Lower gold and silver prices in the near term would reduce the barrier to entry into this market for many smaller bullion investors. At today's prices these metals are certainly a lot more affordable than they were one month ago. It would be a shame if more people worldwide are excluded from upward movements as a result of short term upswings that serve to deter the average Joe from buying gold or silver bullion coins.
A bit of Fun with Max Keiser: 99% to Bankers: We've Got the Guillotine!
the time being. Oil is up 0.48 % at $105.91.
Gold and Silver News October 10, 2011 06:47 AM
Uploaded by GoldMikeMaloney on 10 Oct 2011
Evening: The majority of popular markets remain in the green after Monday trading as short term sentiment remains robust. Major indices continued to rally throughout the day as Europe's leaders pledged to ensure a timely resolution of the Eurozone debt crisis. The Dax showed the most gains today in the region of 3%. The majority of UK banks closed up today with Barclays Plc, RBS and Standard Chartered Plc seeing gains in excess of 4%. Both gold and silver were lifted by approximately 1% and 3% respectively, while the oil price remains near the $105 mark.
Bad news for the UK Pound and global economy, better news for the US Dollar.
We are seeing a repeat of 2008 as investors continue to purchase US Dollars and bonds. This has resulted in a temporary thinning out of support for gold (and silver). The popular media is once again tugging at the emotions of the public as far as these precious metals are concerned. During the widespread sell-off of global stocks and commodities, the media was far from supporting gold as a hedge against economic turmoil. In fact they asserted that gold may no longer be a good investment, even near the $1,500 mark.
Now the media is back on top form, with newspapers asserting the importance of gold for anyone looking to protect their wealth. Why the sudden change of heart? I would not be surprised if we see gold anywhere between $1800 and $2000 by year end. However, my fear is that this would be a premature upside movement that prevents a more solid base from being built in the global physical market.
I believe that it would be better for long term gold and silver investors if we where to see modest increases in price as we approach the year end, with prices near say $1,700 and $35 respectively. This would allow both amateur and experienced bullion investors to make further acquisitions which would support healthier growth into 2012 and beyond. While seeing $2,000 gold and $50 silver by 31 December 2011 would be good for my own portfolio, I believe this would cause cracks to appear further down the line.
Lower gold and silver prices in the near term would reduce the barrier to entry into this market for many smaller bullion investors. At today's prices these metals are certainly a lot more affordable than they were one month ago. It would be a shame if more people worldwide are excluded from upward movements as a result of short term upswings that serve to deter the average Joe from buying gold or silver bullion coins.
A bit of Fun with Max Keiser: 99% to Bankers: We've Got the Guillotine!
No comments:
Post a Comment