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GOLD price hitting US$1000/trouce again twice 2day Post Reply Rate topic
richtan Supreme	08-Sep-2009 21:02        richtan About Contact  Quote this Post!
x 0   x 0  Alert Admin	Stocks Rise for Fourth Day as Gold Exceeds $1,000, Dollar Falls Share | Email | Print | A A A By Daniel Hauck Sept. 8 (Bloomberg) -- Stocks rose for a fourth day as higher metals and computer-memory prices boosted the earnings outlook for raw-material and technology companies. Gold climbed above $1,000 an ounce for the first time in six months. The MSCI World Index of 23 developed countries advanced 0.7 percent at 12:17 p.m. in London. Futures on the Standard & Poor’s 500 Index rallied 1.2 percent after U.S. markets were closed for a holiday yesterday. Silver jumped to a 13-month high, copper gained for a fourth day and crude oil increased. The dollar fell against all but one of the 16 most-traded currencies tracked by Bloomberg. Goldman Sachs Group Inc. raised its forecasts today for metals because of “increasing evidence of a stronger-than- anticipated recovery in global industrial activity.” International Monetary Fund Managing Director Dominique Strauss- Kahn told the Il Sole 24 Ore newspaper that the crisis phase that toppled Lehman Brothers Holdings Inc. in September 2008 “is almost certainly behind us.” “This is the best phase of the economic cycle,” a team of Credit Suisse Group AG strategists led by London-based Andrew Garthwaite wrote in a note today. “Many economic and financial variables are back to pre-Lehman levels.” Credit Suisse said that investors should favor stocks over bonds and cash, and forecast gains in equity indexes worldwide ranging from 12 percent for Europe to 23 percent for Japan through mid-2010 as the economy recovers. BHP, STM The Dow Jones Stoxx 600 Index of European shares rose 0.5 percent. Raw-material producers climbed 2.7 percent as a group and technology shares added 1.3 percent. BHP Billiton Ltd., the world’s biggest mining company, rose 2.8 percent in London and Rio Tinto Group, the third-largest, gained 3.4 percent as copper, nickel, zinc and tin increased on the London Metals Exchange. STMicroelectronics NV, Europe’s largest semiconductor maker, advanced 3.4 percent, while Elpida Memory Inc., Japan’s biggest maker of dynamic random access memory, gained 5.4 percent in Tokyo. Prices of the benchmark 1-gigabit computer- memory chip climbed to $1.71 yesterday, from as low as 58 cents in December, according to Dramexchange Technology Inc., operator of Asia’s biggest spot market for the chips. Cadbury Plc, which soared 38 percent yesterday, increased 1.9 percent. The maker of Dairy Milk chocolates may attract suitors ranging from Nestle SA to Hershey Co. and sell for as much as $21 billion after rejecting Kraft Food Inc.’s $16.7 billion bid yesterday, according to analysts. U.S. Futures The gains in U.S. futures indicated the S&P 500 may advance for a third straight day. Apple Inc., maker of the iPod, rose 1.5 percent in pre-market New York trading. The company will host an event tomorrow in San Francisco that may be the first opportunity for Chief Executive Officer Steve Jobs to make a public appearance after his liver transplant. The MSCI Emerging Markets Index added 1.2 percent, climbing for a fourth straight day. Russia’s Micex index jumped 2.5 percent as oil rose in New York. Russia is surpassing Saudi Arabia in oil exports for the first time since the Soviet Union’s collapse in 1991. China’s Shanghai Composite Index gained 1.7 percent. Gold for immediate delivery rose to $1,007.70 an ounce, trading within 3 percent of its record $1,032.70 set in March 2008. Copper added 2.3 percent to $6,470 a metric ton and lead rallied 4.4 percent to the highest price since May 2008. Copper will climb to $7,650 a ton by the end of 2010, up from a previous forecast of $5,800 a ton, Goldman Sachs analyst Jeffrey Currie wrote in a report today. Prices of the metal have more than doubled this year. Oil Rallies Oil futures rose above $69 a barrel in New York, gaining as much as 2.5 percent from the last week’s close as the weaker dollar increased demand for commodities as a currency hedge. The contract didn’t settle yesterday because of the Labor day holiday. Ministers from the Organization of Petroleum Exporting Countries meet tomorrow in Vienna to set production targets. Saudi Arabian Oil Minister Ali al-Naimi said the market is in “good shape,” with price between $68 and $73 a barrel satisfactory for both consumers and producers. The Dollar Index, which IntercontinentalExchange Inc. uses to track the currency against those of six major U.S. trading partners, fell 1 percent to 77.267. The dollar weakened 1.3 percent against the pound after a report showed U.K. manufacturing rose in July by three times as much as economists forecast. The U.S. currency declined 1 percent versus the yen. Euro Rises The euro rose against the dollar after the German government reported an unexpected drop in industrial production in July, while also revising higher output in June. “The near-term prospects do not look particularly encouraging for the dollar,” Derek Halpenny, European head of global currency research at Bank of Tokyo-Mitsubishi UFJ Ltd. in London, wrote in an e-mailed report. “Gold has just broken through the $1,000 level and this along with the Dollar Index approaching the low recorded in early August may well encourage another wave of speculative dollar selling.” The Group of 20 nations has committed about $12 trillion to resuscitate the global economy, according to the International Monetary Fund, including a package of stimulus measures from the Chinese government of about $586 billion. Figures today showed that China’s passenger-car sales surged a record 90 percent last month as tax cuts and government subsidies spurred demand. Full- year sales of cars, trucks and busses may hit 12 million, the government said last week, enough for China to likely surpass the U.S. as the world’s largest auto market. European borrowers ranging from Fiat SpA and Bayerische Motoren Werke AG to Bank Nederlandse Gemeenten started selling bonds in the busiest day of issuance since the summer vacation lull, according to data compiled by Bloomberg. Italy started marketing its issue of 30-year benchmark bonds, its longest- dated security. To contact the reporters on this story: Daniel Hauck in London at dhauck1@bloomberg.net. Last Updated: September 8, 2009 07:32 EDT
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cheongwee Elite	08-Sep-2009 20:19        cheongwee About Contact  Quote this Post!
x 0   x 1  Alert Admin	everytime gold soar, stock rally time is abt up.... my guess is stock will tank in fall, dollar soar big time together with the  strength fr the US$ carry trade... oil, gold, and stock to fall....gold will come down due to selling by speculator to cover losses in stock...$ strengthen due to safe haven and also BB US$ carry trade rewind.... i thk if like this, also good ,stock got longer time to play out....
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cheongwee Elite	08-Sep-2009 20:06        cheongwee About Contact  Quote this Post!
x 0   x 0  Alert Admin	i am sorry for the previous post...dont why all word join up??? but u can go here to read... http://www.gainspainscapital.com/index.php?option=com_content&view=article&id=132:the-dollars-doozy-days-are-over
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cheongwee Elite	08-Sep-2009 20:00        cheongwee About Contact  Quote this Post!
x 0   x 0  Alert Admin	Pls read with an open mind...pls dyodd... Written by Brian Heyliger The Dollar's Doozy Days Are Over Since March, perhaps the most obvious trade has been to take the short side of the U.S. Dollar. However, the easy money's been shorting the dollar, and the next round of easy money will be made where nobody else is looking: buying the U.S. Dollar. That’s because quite frankly, the dollar is oversold and everybody hates it. In an almost lockstep countertrend with stocks, the dollar has been plummeting since March. When you couple the … Oversold nature the greenback with the Extreme pessimism toward the currency … You have a recipe for a sharp rally. A rally so strong that it should send the shorts running with their tails between their legs. Just ask Aunt Wilma - everyone's proverbial aunt whose outlook on the market is consistently and without parallel when it comes to being wrong. She’s the aunt who wouldn't dare miss an episode of "Squawk Box," but hasn't a clue that IBM's ticker symbol really is "IBM." Everybody knows someone like this, and she's always on the wrong side of the market. So... with Dollar Sentiment Index showing only 3% of traders bullish on the ole' greenback, rest assured Aunt Wilma thinks the dollar is still going down. Now bear in mind that I think gold is in a secular bull market, which by correlation puts the U.S. Dollar in the "doomed" category. But understand this … The Dollar's status as the world's reserve currency didn't appear overnight, and it won't vanish overnight, either. Even in a roaring bear market in the Greenback, there will be times when the bears have their hind-parts handed to them. Just like they did last December, as you can see here … Now... to trade the dollar on the long side there are several things you can do. You can simply buy a fund like the Rydex Strengthening Dollar Fund (RYSBX) - which will perform twice as well as the Dollar, or You can simply buy the Dollar in the spot market if you're a Forex trader, or You could short Gold if you're feeling really brave (which I don't recommend, as that trade could go very wrong very quickly). However … Perhaps The Best Way To Profit From A Rising Dollar Is To Sell Stocks It's no coincidence the peak in the Greenback back in March corresponded with the bottom in the S&P 500. There's a very real relationship - as with Gold - between stocks and the U.S. Dollar. And with the S&P 500 as overbought as it was in October 2007 (we've had 6 consecutive up months), selling stocks stacks the odds in your favor by a landslide. That is what I told Market Trigger Alert readers to do last week, when we sold the S&P 500 E-mini. I expect the see the S&P 500 well below 950, perhaps as soon as December. We're well positioned to profit off that fall... Are you? Good Trading, Brian Heyliger sept 09
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nickyng Supreme	08-Sep-2009 16:41        nickyng About Contact  Quote this Post!
x 0   x 0  Alert Admin	OH MY GOD !! GOLD HIT US$1009 !!
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nickyng Supreme	08-Sep-2009 15:19        nickyng About Contact  Quote this Post!
x 0   x 0  Alert Admin	$1006 now !! Wow !! :D
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nickyng Supreme	08-Sep-2009 15:11        nickyng About Contact  Quote this Post!
x 0   x 0  Alert Admin	latest !! GOLD at US$1004 now !!! :D WOW!!
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erictkw Veteran	08-Sep-2009 14:25        erictkw About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Gold Advances to $1,000 on Dollar’s Weakness, Inflation Hedge By Nicholas Larkin, Halia Pavliva and Kim Kyoungwha Sept. 8 (Bloomberg) -- Gold futures climbed to $1,000 an ounce for the first time in more than six months as a weaker dollar and concern that inflation may accelerate boosted the precious metal’s appeal. The contract for December delivery touched exactly $1,000 on the Comex division of the New York Mercantile Exchange, taking this year’s rise to 13 percent. Immediate-delivery metal rose to $998.25 an ounce. Gold is set for a ninth yearly gain. Governments have cut interest rates and boosted spending to fight the worst recession since World War II, spurring investors to buy bullion as a hedge against potential inflation and debasement of currencies. The Dollar Index has lost 4.1 percent this year. Gold typically moves inversely to the U.S. currency. “There’s not many good options for investors to hedge against a declining dollar and rising inflation,” Hwang Il Doo, head of trading with KEB Futures Co., said today from Seoul. “Gold will rise to $1,100 an ounce by the end of the year, once physical demand from China and India adds fuel to the rally.” Gold last traded at more than $1,000 on Feb. 20, the first time the metal had breached that price since March 2008. Futures then retreated to as low as $865 on April 6. The December contract added 0.1 percent to $998.20 an ounce in New York at 10:53 a.m. in Singapore. Spot gold traded at $996.59. The metal’s advance boosted producers. Newcrest Mining Ltd., Australia’s largest gold-mining company, gained as much as 4 percent to A$33.86, and Lihir Gold Ltd., the second-largest, increased 4.7 percent. Zijin Mining Group Co., China’s largest producer, rose 4 percent in Hong Kong. Haven Investment Gold may be cementing its status as a haven investment as governments seek to flood the financial system with cash in an effort to haul the global economy out of a recession. The record for gold futures is $1,033.90 an ounce, reached March 17, 2008. “The reasons to own gold as an investment make sense,” Sydney-based Greg Gibbs, a Royal Bank of Scotland Group Plc strategist, said in advance of the metal’s gain to $1,000 today. “It is a hedge against policy makers losing control of fiscal and quantitative monetary policies.” The Dollar Index, a six-currency gauge of the dollar’s value, declined for a third day today. U.S. President Barack Obama has increased U.S. marketable debt to an unprecedented $6.78 trillion as he borrows to spur the world’s largest economy. Goldman Sachs Group Inc. predicts that the U.S. will sell about $2.9 trillion of debt in the two years ending September 2010. ‘Hint of Hyperinflation’ “Money has been printed massively,” said investor Jim Slater, who was deputy chairman of Galahad Gold Plc before it liquidated in 2008. “Inflation will follow fairly soon” and there may be “a hint of hyperinflation. Even a hint will be very good news for gold,” said Slater. Crude-oil futures, used by some investors as an inflation- outlook guide, have soared 53 percent this year. Consumer prices will rise 0.9 percent in advanced economies next year compared with 0.1 percent in 2009, the International Monetary Fund forecast in July. In other countries, prices may gain 4.6 percent in 2010, from 5.3 percent this year, the fund said. Gold at more than $1,000 may attract more investors seeking to take advantage of the longest advance in the metal’s price in 60 years. Assets in some of the industry’s largest exchange- traded funds have reached all-time highs the past few months. The SPDR Gold Trust, the biggest ETF backed by the metal, reached a record 1,134.03 metric tons on June 1. The fund, which held 1,077.63 tons as of Sept. 4, has overtaken Switzerland as the world’s sixth-largest gold holding. Indian Demand Investors bought 222.4 tons of bullion in the second quarter, 46 percent more than a year earlier, the World Gold Council said in August. That’s less than 595.9 tons in the first quarter, when investment demand exceeded usage by jewelers for the first time since at least 2004. The National Spot Exchange Ltd. in India, the world’s largest consumer, launched small-denomination contracts in June to lure households to trade physical gold. In China “ongoing strength in demand” led by individual investors boosted sales 6 percent in the second quarter, the World Gold Council has said. “The market has the power to move up further,” said Ellison Chu, a metals manager with Standard Bank Asia Ltd., citing dollar weakness. Still, “the risk is that speculative investors could be tempted to sell out,” said Chu. Other precious metals have outperformed gold this year. Silver for immediate delivery gained 0.7 percent to $16.45 an ounce today, the highest since August 2008. It has climbed 44 percent this year. Platinum added 0.4 percent to $1,265 an ounce, increasing its gain this year to 35 percent. Palladium, the best performing precious metal this year, was 0.3 percent lower at $293.25 an ounce. It has gained 57 percent in 2009. “We are still skeptical that this is a sustainable rally and a comeback could be very painful,” Andrey Kryuchenkov, a VTB Capital analyst in London, said before today’s advance in gold. “Risk-averse buying is nowhere near the levels we saw last winter.”
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Hulumas Supreme	08-Sep-2009 14:17        Hulumas About Contact  Quote this Post! Style: Flexible   Mood: Yells: "INVEST but not TRADE please!"
x 0   x 0  Alert Admin	Could it be time to sell or buy? nickyng      ( Date: 08-Sep-2009 13:57) Posted: haha.....looks like China is switching to buying GOLD instead of US Treasury bond/debts !! :D
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nickyng Supreme	08-Sep-2009 13:57        nickyng About Contact  Quote this Post!
x 0   x 0  Alert Admin	haha.....looks like China is switching to buying GOLD instead of US Treasury bond/debts !! :D
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