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bsiong
Supreme |
12-Oct-2012 08:02
Yells: "The Greatest Wealth is Health" |
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 October 11, 2012 • 14:27:44 PDT James Turk - Expect A Massive Short Squeeze In Gold & Silver“Gold & silver are getting very close to an all-important upside breakout, both metals will rocket higher. Read More |
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bsiong
Supreme |
12-Oct-2012 07:59
Yells: "The Greatest Wealth is Health" |
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 October 11, 2012 • 07:02:04 PDT Gold Best Of Biggest ETFs As Traders Seek Haven - Riskless ReturnInvestors have piled into gold in the past eight years, hoarding a record 2,582.43 metric tons of the metal Read More |
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bsiong
Supreme |
12-Oct-2012 07:57
Yells: "The Greatest Wealth is Health" |
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ANALYSTS' VIEW-Reuters Q3 precious metals price pollLONDON, Oct 10 (Reuters) - Precious metals analysts have become more bullish for the prospects for gold and silver than they were three months ago, but their outlook for platinum and palladium has darkened in line with the outlook for global growth, a Reuters poll showed on Wednesday. The impact of the euro zone debt crisis on the global economy is expected to keep global monetary policy loose, which should favour gold, while restricting demand for the more industrial metals like silver and the platinum group metals. Silver should get a lift on the back of gold, while the PGMs will be cushioned to an extent by ongoing supply disruptions in South Africa, although the prospect of weak car sales has prompted most analysts to scale back their price forecasts. Below are comments on the outlook for the four metals. GOLD AVG Q4 AVG 2012 AVG 2013 Mean 1795.06 1690.97 1862.40 Median 1785.00 1690.00 1853.75 Highest 2200.00 1780.00 2500.00 Lowest 1630.00 1640.00 1520.00 No. of forecasts 27 28 28 DAVID BEAHM , VP, MARKETING AND ECONOMIC RESEARCH, BLANCHARD & CO " Gold is reasserting itself as a strong safe haven during the current period of risk and uncertainty. The European debt crisis remains a major issue in the global economic marketplace, and other major indicators in the U.S. and abroad continue to illustrate just how feeble the economy remains. Many investors have moved into gold to protect and grow their wealth, and we foresee global investment demand for gold to grow even further than the 900 percent increase it has seen since 2007." ROSS NORMAN, CEO, SHARPS PIXLEY " 2012 was always going to be relatively tough for gold just as 2004 was and 2008 was, and for much the same reason - they were all U.S. election years when the dollar did comparatively well. With a run rate of a 17% year-on-year gain over the last decade, gold looks likely to post a modest 12 percent in 2012. Gold is likely to hold its relationship with the US dollar - in 2012 we inversely seen rupee and euro weakness which has translated into all time highs for gold in both of these currencies - this remains a drag on what might have been runaway gold prices. The relationship will be put to the test when brinkmanship over the US fiscal cliff emerges in the new year, which could easily propel gold back to all time highs above $1922." DAVID JOLLIE, STRATEGIC ANALYST, MITSUI PRECIOUS METALS " Gold still remains a virtual currency in the eyes of many people and can act as a form of last ditch insurance. Given the strains that currently exist in the global economic system, we expect gold to continue to benefit from heightened risk and increased perceptions of risk." SILVER AVG Q4 AVG 2012 AVG 2013 Mean 34.88 32.01 36.99 Median 35.00 32.00 35.00 Highest 41.00 35.00 65.00 Lowest 31.50 30.50 30.00 No. of forecasts 26 27 27 BERNARD DAHDAH, ANALYST, NATIXIS " Over the medium term, our concern with the outlook for silver prices is that once global markets return to greater normality, investment demand might not only diminish, but could turn into a considerable source of net supply. The 16,160 tonnes of silver held in physically-backed ETFs are equivalent to almost half of 2011's supply of silver and 70% of new mine supply. Earlier in the year, signs of an improvement in the US economy hinted at a possible net outflow, but the situation reversed during the summer months, and with the introduction of a third round of QE, the resultant boost to silver prices from renewed investor demand is likely to take the price of silver for the year as a whole to an average of $32/oz. followed by 30/oz in 2013." HEATH JANSEN, GLOBAL HEAD METALS AND MINING, CITIGROUP " Investment demand in 2011 was 163.9m oz and this should need to rise to 218m oz in 2013 if the market is to be in balance. This should not be a problem following QE3, but 2013 should need 214m oz and 2014 should need 212m oz of investment demand if the market is to be in balance. With QE3 a distant memory by then, we believe that the market should only find a balance at lower silver prices." PLATINUM AVG Q4 AVG 2012 AVG 2013 Mean 1640.69 1577.17 1737.93 Median 1650.00 1559.50 1722.50 Highest 1750.00 1800.00 1950.00 Lowest 1450.00 1500.00 1525.00 No. of forecasts 17 18 20 MICHAEL WIDMER, STRATEGIST, BANK OF AMERICA-MERRILL LYNCH " Even though there is scope for platinum prices to decline as the crisis in the Eurozone unfolds in the near-term, a correction would magnify the problems for South Africa's miners. This should limit the downside. By the same token, once the global economy stabilises, in our view platinum prices could rise above $2,000/oz through 2013 and into 2014." DEUTSCHE BANK " The overriding trend in the platinum market has been the unprecedented level of supply disruptions, through a combination of illegal strike action, weak pricing which had led to closures and section 54 safety stoppages at the beginning of the year. " However, weak demand and a well-stocked auto sector have simply meant that these supply disruptions prevented a significant inventory build-up over the course of 2012 ... depending on the duration of the current strike at Amplats' four Rustenberg shafts - Khuseleka, Khomanani, Thembelani and Siphumelele, this surplus could easily evaporate by the year end to leave the market in balance for 2012 as a whole. " The starting point for 2013 is therefore a much more balanced market. We believe that any squeeze in the platinum market which could see the platinum to gold premium return, is more likely to occur in the second half of next year." PALLADIUM AVG Q4 AVG 2012 AVG 2013 Mean 675.57 657.90 753.41 Median 658.00 643.50 742.00 Highest 750.00 800.00 900.00 Lowest 630.00 615.00 660.00 No. of forecasts 17 18 20 ROBIN BHAR, ANALYST, SOCIETE GENERALE " Palladium may not suffer any deep corrections, and we expect a steady improvement in prices with a test of $800 in the second quarter of next year and a challenge of $1,000 in 2014. Palladium remains our favoured precious metal for the long term." JAMES MOORE, ANALYST, FASTMARKETS " We feel that the PGMs are likely to remain far more sensitive to wider macro-economic conditions than silver given the scale of investor appetite for silver. While we maintain a bullish outlook for gold and silver next year we are not as optimistic for the PGMs given the increasing levels of scrap recycling and current fundamental imbalances." (Reporting by Amanda Cooper Editing by William Hardy) |
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bsiong
Supreme |
12-Oct-2012 07:50
Yells: "The Greatest Wealth is Health" |
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Closing Gold & Silver Market Report – 10/11/2012October 11, 2012GOLD GAINS ON CONTINUED EUROZONE WOES DESPITE POSITIVE U.S. JOBS NEWS Gold experienced subtle gains today as promising data from the U.S. labor market compensated for a weaker dollar. Jobless claims fell despite anticipated projections of a rise in unemployment. Though the positive news from the Labor Department would typically inspire increased risk tolerance, the ongoing European debt debacle continues to boost the outlook for Gold. Mark O’Byrne, executive director at Goldcore, noted this upside was due to “the risk of the eurozone debt crisis intensifying with the focus again on Spain after S& P cut Spain’s rating to just above junk status.” Investors’ positive sentiment toward news that unemployment benefits claims fell by 30,000 last week was short lived as the Dow Jones failed to hang on to early gains. Though the jobless reports show the best numbers since Feb. 2008, Zach Pandl, strategist at Columbia Management in Minneapolis, showed reserved optimism stating, “You do have to be cautious about possible distortions.” Economists polled by Reuters offered less optimistic estimates for continuing minimal U.S. economic expansion. Forecasts for the first quarter of 2013 expect a median annualized drop from 1.7 to 1.6 percent growth. At 5 p.m. (EDT), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
12-Oct-2012 07:49
Yells: "The Greatest Wealth is Health" |
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Gold Content to Range Quietly for NowDaily Bars Prepared by Jamie Saettele, CMT
“A previously rare occurrence has popped up 3 times since June. That is, gold has traded in a double inside day AFTER an outside day. Before June, one had to look back to 2009 to find this pattern. The pattern is a function of volatility contraction and the plethora of orders on each side of the narrow range is conducive to false breaks. Gold rallied to a new and has pulled back in order to satisfy the false break.” The piercing of the October low triggers a bearish bias against the high but failure to sustain the intraday drop leaves me neutral. Until the market shows its hand, there won’t be much to comment on. |
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bsiong
Supreme |
11-Oct-2012 23:10
Yells: "The Greatest Wealth is Health" |
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Last Updated : 11 October 2012 at 20:20 IST UBS raises Gold, Silver, Copper 2012, 2013 price forecasts Source :Commodity Online “The open-ended nature of QE … promises longevity for a higher gold trade and the quantitative easing and strength in gold also supports silver,” the Swiss bank noted. " We also materially increase our silver price 2012/13 price forecasts (including the long-term price). Copper price estimates are raised 2 per cent/6 per cent in 2012/13. Iron ore is trimmed 5 per cent/2 per cent in 2012/13, and met-coal 5 per cent in 2012. We believe thermal coal has now largely rebalanced after widespread production cuts," they added. For platinum, the bank boosts its 2012 average price estimate by $10 an ounce to $1,575, leaving its 2013 estimate unchanged at $1,800. “The biggest price lift has already occurred, by a US recovery and underperforming, high-cost South Africa mines are two key supports,” UBS continued. They lower their palladium 2012 price forecast by $15 to $655, but say eventually palladium will be supported by the U.S. economic recovery and dwindling Russian stocks. |
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bsiong
Supreme |
11-Oct-2012 22:17
Yells: "The Greatest Wealth is Health" |
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Morning Gold & Silver Market Report – 10/11/2012October 11, 2012SPAIN’S CREDIT NEAR JUNK U.S. JOBLESS CLAIMS DOWN As Spain’s credit worthiness nears junk status, the euro found some life and steadied, holding Gold’s price in the upper $1,700’s. Spain is the eurozone’s fourth largest economy, and it is now carrying a credit rating of BBB- according to Standard & Poor’s. Though the downgrade had little effect on U.S. futures markets such as oil, the Dow, S& P and Nasdaq indexes rose in overnight trading. The news for Spain is less than positive as it seems that the credit agencies are forcing the Spanish government into a corner with these economic hurdles. Weekly jobless claims fell to levels we haven’t seen in four years, with the number of jobless Americans seeking aid falling to 339,000 last week. Other domestic economic news isn’t as positive, however, as the U.S. trade deficit widened in August. This tells us the world economy is slowing down and cutting its demand for U.S. goods.
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bsiong
Supreme |
11-Oct-2012 22:15
Yells: "The Greatest Wealth is Health" |
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Last Updated : 11 October 2012 at 18:55 IST Gold may retest $1,750/Oz level: HSBC Source :Commodity Online NEW YORK (Commodity Online): The path of least resistance for gold appears to be lower for the short-term, said HSBC Holdings plc (HSBC) in a commodity research note. According to the British bank, institutional investors give the impression of losing enthusiasm for another challenge of gold’s $1,790-1,800 an ounce price levels. The first rush of gold buying on the back of the Federal Reserve’s third round of quantitative easing appears over, and with the euro back below $1.29, gold prices could retreat, possibly to $1,750 an ounce. “Near-term, traders might want a reduction in long net speculative positions from current high levels before they recommit to gold. None of this changes the underlying bull rally, which looks intact to us. Bulls may need to wait until closer to the U.S. elections before for the rally recovers,” HSBC concluded. Global gold prices are trading modestly higher in early trading on Thursday as the US dollar index is weaker and crude oil prices are higher. Some light bargain hunting interest has again surfaced following this week’s selling pressure. |
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bsiong
Supreme |
11-Oct-2012 12:38
Yells: "The Greatest Wealth is Health" |
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Gold Slips Intraday but Ends Day UnchangedDaily Bars Prepared by Jamie Saettele, CMT
“A previously rare occurrence has popped up 3 times since June. That is, gold has traded in a double inside day AFTER an outside day. Before June, one had to look back to 2009 to find this pattern. The pattern is a function of volatility contraction and the plethora of orders on each side of the narrow range is conducive to false breaks. Gold rallied to a new and has pulled back in order to satisfy the false break.” The piercing of the October low triggers a bearish bias against the high but failure to sustain the intraday drop leaves me neutral.
LEVELS: 1736.05 1750.90 1756.80 1791.49 1802.80 1819.05 |
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bsiong
Supreme |
11-Oct-2012 12:36
Yells: "The Greatest Wealth is Health" |
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Closing Gold & Silver Market Report - 10/10/2012October 10, 2012WHAT CAN DEFEAT GOLD? FISCAL CLIFF APPROACHING QUICKLY Once again Gold successfully fought off the negative news in the market and remained flat for the day after being slightly down this morning. The eurozone financial crisis is worsening by the day, and Gold has been negatively affected by the situation. A Reuters poll released today reflects that 27 analysts remain bullish on Precious Metals for the long term. Another positive note is that the analysts are anticipating Gold to see its thirteenth successive year of gains in 2013 with a target average price of $1,853.75. Americans are expecting the worst for the end of 2012 when the United States government is forced to deal with scheduled spending cuts and tax increases, which is referred to as the “fiscal cliff.” Spending cuts will disrupt more than 1,000 mandated government programs. Tax assistance laws put into place by the Bush administration and extended during the Obama administration are also set to expire Dec. 31, 2012. It is predicted that the economy could be heading towards another recession if it is not handled properly and in a timely manner. Chad Stone at the Center on Budget and Policy Priorities believes the circumstances may not be so severe with the “fiscal cliff” acting more like a “fiscal slope” that the economy can easily recover from. Stone said, “The slope would likely be relatively modest at first. A relatively brief implementation of the tax and spending changes required by current law should cause little short term damage to the economy as a whole.” At 5:02 pm (EDT), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
10-Oct-2012 22:49
Yells: "The Greatest Wealth is Health" |
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bsiong
Supreme |
10-Oct-2012 22:43
Yells: "The Greatest Wealth is Health" |
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 October 10, 2012 • 05:39:19 PDT Three Of The World’s Four Richest Investors Are Batting For GoldThree of the world’s four richest investors are batting for gold, so the wonder is why its price isn’t a lot higher. Read More |
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bsiong
Supreme |
10-Oct-2012 22:39
Yells: "The Greatest Wealth is Health" |
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Morning Gold & Silver Market Report – 10/10/2012October 10, 2012GOLD AND EQUITIES MARKETS DOWN AGAIN ON WORLD GROWTH OUTLOOK Trepidation continues to weigh on investors as the U.S. stock market opened to early losses this morning. A meager outlook for global growth and reduced earnings are the catalysts for market dips in recent days. " We have had a number of large companies reporting poor visibilities and that is going to continue," said Michael O’Sullivan, head of portfolio strategy at Credit Suisse Private Banking in London. " Revenue growth is simply weak because the U.S. economy has slowed, the Asian economy has slowed and Europe is in recession." Gold is down this morning as negative forecasts for global economic expansion weigh on Precious Metals markets as well. Though Gold has realized three straight sessions of losses, the metal rallied to 11 month highs in the third quarter peaking at $1,795 an ounce. Long term investors are still seeking the security presented by the yellow metal as uncertainty remains pervasive in equities markets. " The long-running rally is intact, however, and we expect that Gold prices will revive after a period of consolidation," said analysts at HSBC bank. At 9 am (EDT), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
10-Oct-2012 20:25
Yells: "The Greatest Wealth is Health" |
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Last Updated : 10 October 2012 at 17:25 IST Gold funds outperform Apple Inc, provide better returns to investors Source :GoldETFs.biz On Tuesday, Apple Inc traded at $ 635.85, below the 50 day moving average of $658 and intra-day high of $705.07 achieved on September 21, the day iPhone5 went on sale. Japan-based Nomura Securities has given a neutral rating for Apple with a price target of $710 while Jon Najarian, OptionMonster.com has given a price target of $800 by end 2013. SPDR Gold Trust, the largest gold fund in the world has gained over 8% over the last six months. This compares to Apple's gain of .8% or about one tenth of the return of gold fund shares. |
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bsiong
Supreme |
10-Oct-2012 09:14
Yells: "The Greatest Wealth is Health" |
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Closing Gold & Silver Market Report – 10/09/2012October 9, 2012GOLD CLOSES DOWN EURO FINANCE MINISTERS MEET For the third consecutive day, Gold has closed lower. Signs point to a sluggish global economy. The unease in Europe continues with protests in Greece during the German Chancellor’s visit. China announced more monetary easing due to disappointing market reports in the country. Jeffrey Sica, chief investment officer at SICA Wealth said, " I do believe the slowdown in China will be much more severe than people anticipate and there is nothing the central bank can do to change it." The factors of the global markets struggling and the improvement in the U.S. dollar’s value have given cause for the yellow metal to dip. Today the finance ministers for the countries in the European Union met in Luxembourg to discuss the ongoing efforts to bring financial stability to the region There are many countries involved, which means there are also many opinions on how to proceed. Dutch Finance Minister Jan Kees De Jager summed up the idea of a banking union between countries by saying, " We should do it step by step with proved, effective supervision, so not fixed on the calendar, but fixed on the substance." At 5 pm (EDT), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
10-Oct-2012 09:13
Yells: "The Greatest Wealth is Health" |
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Gold Pierces October LowDaily Bars Prepared by Jamie Saettele, CMT
“A previously rare occurrence has popped up 3 times since June. That is, gold has traded in a double inside day AFTER an outside day. Before June, one had to look back to 2009 to find this pattern. The pattern is a function of volatility contraction and the plethora of orders on each side of the narrow range is conducive to false breaks. Gold rallied to a new and has pulled back in order to satisfy the false break.” The piercing of the October low triggers a bearish bias against the high.
LEVELS: 1736.05 1750.90 1763.25 1791.49 1802.80 1819.05 |
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bsiong
Supreme |
10-Oct-2012 00:38
Yells: "The Greatest Wealth is Health" |
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 October 09, 2012 • 06:47:47 PDT Gold And Silver Will Soon Line Investors' Pocketswe're in a new cyclical bull market for precious metals that started in May. I'm looking for a little correction/pullbac... Read More |
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bsiong
Supreme |
09-Oct-2012 23:02
Yells: "The Greatest Wealth is Health" |
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Morning Gold & Silver Market Report – 10/9/2012October 9, 2012GLOBAL ECONOMY TO GROW AT SLOWEST RATE SINCE 2009 Startling news out of Europe this morning has caused many investors to seek safe haven investments. The International Monetary Fund (IMF) said that many eurozone countries will miss their budget deficit targets agreed upon with European authorities, causing the euro to fall. This also boosted the safe haven appeal of the U.S. dollar. Strategists at Lloyds Bank in London wrote, “It seems clear that from a growth perspective the dollar looks better supported than European currencies, and with positioning now close to square in the euro, new impetus is required to extend the dollar decline of the last few months.” Precious Metals are edging higher despite the lower euro price, suggesting a strong safe haven appeal for Gold as well. The IMF lowered growth expectations, saying that global economy growth will come in at around 3.3 percent, which is the slowest since 2009. Analysts at Commerzbank AG believe this will be a boon for Gold, as they wrote, “The chance of unlimited, cheap central bank liquidity and strong ETF inflows suggest that the price might soon rise towards $1,800.” At 9 a.m. (EDT), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
09-Oct-2012 13:28
Yells: "The Greatest Wealth is Health" |
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Gold inches up after two-day slide growth worries weigh* Physical gold demand sluggish buyers eye price dip * Spot gold may retrace to $1,757/oz - technicals * Coming up: ECB President Mario Draghi speaks, 0730 GMT By Rujun Shen SINGAPORE, Oct 9 (Reuters) - Gold inched up on Tuesday after two days of decline, but persistent worries about the euro zone debt crisis and global growth could weigh on bullion, as these concerns keep the dollar strong. Speculative interest in gold remained strong, as stimulus measures launched by key central banks in September drive investors to gold, a hedge against inflation and currency debasement caused by looser monetary policy. Holdings in the gold-backed exchange-traded funds rose to a historic high of 74.73 million ounces by Oct. 7, up 6 percent over the past two months during which gold prices climbed nearly 10 percent. But higher prices have kept a lid on physical demand in the region, especially as a global slowdown has started to impact the economies in the key gold consumers in the region, including China and India. " The jewellery sector has been badly affected, as people are reluctant to spend," said a Singapore-based trader. " The lack of physical demand is worrying." The recent price rally has triggered a wave of scrap selling in Southeast Asia. In major consumer India, festival season demand may fall short of last year, he added. Many buyers, however, are waiting on the sidelines for the next price dip, as price outlook remains bullish for gold. " People will quickly come back to the market when prices drop $30 to $50, and we'll see gold breaking above $1,800 by the end of the year after a healthy correction," the Singapore-based trader said. Spot gold edged up 0.2 percent to $1,778.09 an ounce by 0313 GMT, rebounding from a one-week low of $1,766.14 hit on Monday. Gold fell almost 1 percent over the last two sessions, its sharpest two-day decline since August. U.S. gold crawled up 0.3 percent to $1,780.40. Technical analysis suggested that spot gold is biased to retrace to $1,757 an ounce during the day, said Reuters market analyst Wang Tao. EURO ZONE IN FOCUS The deepening crisis in Spain and Greece kept investors on their toes, lifting the dollar index from a two-week low as the greenback's safe haven allure attracts investors during economic distress. Equities, oil and base metals strengthened, but gains were capped by concerns over global growth prospects, after the World Bank cut is economic growth forecasts for the East Asia and Pacific region. " Things have looked better for gold after the Federal Reserve launched a new round of quantitative easing, but right now we seem to be in a consolidation mode," said Dick Poon, manager of precious metals in Hong Kong. Poon said physical demand was lacklustre, and the premium for gold bar in Hong Kong was about 50 cents above London prices. |
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bsiong
Supreme |
09-Oct-2012 13:24
Yells: "The Greatest Wealth is Health" |
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Last Updated : 09 October 2012 at 10:45 IST Physical Gold demand emerges, Q4 forecast $1810/oz: Barclays Source :Commodity Online/Barclays LONDON (Commodity Online): Physical gold market has shown signs of life but the yellow metal’s ability to breach $1800 market continues to rest with developments in Europe, US macro data and whether central banks ratchet up QE asset purchases, according to Barclays Research. On Tuesday at US Comex, Gold for December delivery is up $4.4 at $1780.1/Oz. Price forecast: Q4 12: $1810/oz 2012 annual average: $1691/oz Physically backed gold ETP interest has continued to grow in October, taking total metal held in trust to fresh record highs. Gold holdings have now hit 2567 tonnes with inflows of 23 tonnes in the first week of October alone. Inflows for the year-to-date have reached 192 tonnes, surpassing full-year inflows for last year at 175 tonnes. Speculative positions in Comex gold rose for the seventh straight week to its highest level since August last year. The CFTC data for the week ended 2 October cover trading activity ahead of the ECB press conference and US non-farm payrolls data. Non-commercial positions rose by 4.4k lots as the establishment of fresh longs (5.4k los) offset fresh shorts (1k lots). Gross long positions are at their highest since September last year and net longs now make up 43% of open interest but remains below the peak of 51% implying further room to grow. “Our bullish view for gold is encouraged by the continual push higher. Ideally we would like to see a break above the range highs near 1803 to confirm further upside toward the record highs near 1921,” Barclays said. Gold priced in EUR is correcting back from recent record highs near 1836. This is seen as a healthy development as it allows stretched daily studies to unwind. We would use dips as an opportunity to enter longs and expect to find nearby buying interest in the 1350 area. The 12-month average near 1294 has provided a reliable indicator of trend on a monthly closing basis since 2009. |
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