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personally i find gold go up too high liao..bt well, it may go up somemore at time being.
I just know about the gold one. Thought the world is so messy, wanted to buy gold, but it's really scary about this fact. I don't think people(those who know) would like to reveal the truth of the story inside the gold itself as it may cause panic in the whole world.
However, as I said before, people still trade and punt the ETF gold as not many people know about it. So don't quote me if ETF goes up to $2000 one day..I just tell you what I know for now.
Don't believe gold will go to $5000, think by then Food is more important---means survival. the best is to own land to plant vegetation. Congrats to those in sharejunction who own small garden in their villas..........hehe, don't know how the world will be by then and don't know when
Hulumas ( Date: 22-Mar-2010 14:05) Posted:
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So how about other type of ETF? So scary!
Salute ( Date: 21-Mar-2010 15:16) Posted:
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when GOLD loses its G(liter),
GOLD - G = OLD
be very careful when investing in gold. after hearing some update, jus worry that ETF gold may end up to be like Madoc case. Doesn't mean that one cannot trade in it if one is alert about market trend before the scenerio of Madoc approaching.
Besides there are some games inside gold itself. When an investment is believed highly by the mass public that it's the trustworthy, secured and lucrative, it may betray the public as much, like the case of Lehmen. The ugly facts just take time to be revealed; same manner may happen to gold because of the game inside gold itself. When come to crises again, the facts might be emerged
If only STI were at >6,000 then Gold would be at USD. 2,000.-
alexchia01 ( Date: 16-Feb-2010 18:02) Posted:
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buy gold on dip..
physical is the best.. anything paper is useless..
currency..paper..useless.. stocks .. paper useless..etf .. paper.. useless..
buy hard assets.. we are not out of the woods yet..
buy gold silver real estate.. don't buy paper..
Even Geomancy predicts that gold will touch $1,200
Gold Hits Record High In Euros, Pound
NEW YORK (Reuters) – Gold rallied to a six-week high in dollar terms and hit record highs versus the pound and the euro on Tuesday, as uncertainty about Greece’s debt and Britain’s politics lifted demand for bullion as a hard asset.
Uncertainty over plans to tackle Greece’s fiscal crisis and over what the next British election may mean for UK debt have heightened volatility in the European currencies, lifting interest in gold as an alternative asset, analysts said.
“Currency volatility is by far the biggest factor supporting gold on Tuesday,” said Frank McGhee, head precious metals trader at Chicago-based Integrated Brokerage Services.
Gold has traditionally been used as a safe haven in times of economic and political uncertainty, as the metal’s intrinsic value is not dependent on any paper currency…
Euro-denominated gold hit a record high of 836.72 euros an ounce, up from 823.66 euros late on Monday, while gold priced in sterling touched a record 759.86 pounds an ounce, up from 744.85 pounds.
“Gold denominated in euros has definitely outperformed the drop in euro-dollar by almost 1 percent in the last 10 days,” said Mitsubishi Corp precious metals strategist Tom Kendall. “That does reflect some nervousness about stability of sovereign debt, and stability of the euro itself.”
The euro rebounded from a 9-1/2-month low against the dollar as investors awaited new plans to address Greece’s debt crisis.
Greek Prime Minister George Papandreou said his country was fighting for survival against bankruptcy and urged civil servants and pensioners to accept sacrifices to save the debt-burdened nation.
Fears over the fiscal health of peripheral euro zone economies have weighed heavily on the euro so far this year, knocking it down by more than 5.5 percent against the dollar.
STERLING GOLD HITS HIGH
Sterling-denominated gold rose as the British currency was driven lower by fears that the next UK general election could result in a hung parliament.
That could mean an incoming government would struggle to take the action necessary to reduce debt, analysts said.
“Markets fear the UK government will be forced to create more sterling in order to buy their own government bonds and that quantitative easing and debt monetization may continue for longer than expected,” and that could lead to further gains in gold, bullion dealer GoldCore said in a note…”
Doesn't the adage "fear when everybody is greedy, be greedy when everybody is fearful" hold sway even for gold investment? I believe the scene looks like the oil price when everyone is shouting USD200 as target price.... Guess what happened after that?
Dan Norcini: IMF Gold Sales Is A Bullish Indicator!
To all those who are concerned about the recent IMF announcement of 191 tonnes gold sales in the open market, don’t be worried. Maestro Jim Sinclair says that it is a repeat of the 1970s: ‘It will be no different this time around. Gold will rise because of IMF selling as it did in the 1970s.’ IMF gold sales are just an attempt to manipulate the gold market. Gold is hitting record highs in Euro and UK pound. Soros has doubled his bet in gold despite saying gold is the ultimate asset bubble. Gold has rallied strongly despite of the strong manipulation. The gold cartel’s attempts are beginning to be more and more futile. Trader Dan Norcini gives us his take:
After the pit session trade had already closed for the day in New York, news came out that the IMF was planning on selling the remainder of 403.3 tons of gold, 191.3 to be exact, on the open market. Gold was immediately taken down hard in the thin trading conditions, dropping more than $14 on the day.
There are several things about this that should be noted. First is the timing – it comes on the heels of a resumption of the uptrend in gold with many technical indicators having moved into the buy mode. It also coincides with another brand new all time high in the price of Gold priced in Euro terms at the London PM Fix.
Those of us who have been around the gold market long enough know full well that the timing of this announcement is therefore no coincidence but was timed to attempt to derail the returning bullish sentiment in the yellow metal. Why announce the sale publicly which is guaranteed to receive a lower price for the metal than if the IMF had just quietly sold the metal into the market. This is reminiscent of then Prime Minister Gordon Brown’s announcement that England intended to sell its hoard of gold. That guaranteed that Britain would receive the lowest price possible.
Secondly, China was one-upped by India’s purchase of some 200 tons of gold late last year and got caught flat footed. The spin on this gold sale is that the IMF announcing that they would sell the gold into the open market means that Central Bank demand for gold is not as vibrant as the market was led to believe. That is an interesting tall tale. The simple truth is that Central Banks do not generally buy gold and announce their intentions to do so beforehand. Neither do they tend to buy when prices are moving higher as the momentum based hedge funds do. Time and time again we have seen that the CBs buy gold during episodes of price weakness. Once news hit the wire last year that India had bought 200 tons of gold, the price never looked back and shot straight to $1220+. Any Asian Central Bank that missed buying the gold as a result is certainly not going to panic and rush into the market to obtain it. They are waiting for lower prices where they will acquire the metal. To state therefore that Central Bank demand for gold must not be as robust as originally thought is quite shallow analysis.
My view is that this announcement means nothing in the longer term scheme but was rather a cheap trick to take the market lower. We have already seen this week how some noted elites were pooh-poohing gold and trash talking the metal all the while they were acquiring a position in it. Nothing ever changes in this gold market. It is still one of the least transparent markets on the planet and perhaps the most prone to official sector interference.
Do not be disturbed by the news. It is probably going to be a one or two day wonder and then that will be it. Gold will then go back to trading the currencies taking its cues from the action in the Dollar.
Incidentally, this sale is supposedly going to be phased in over an extended period of time. Rest assured, the IMF would love nothing better than to sell the whole 191 tons in one lump sum to another Asian Central Bank.
After the pit session trade had already closed for the day in New York, news came out that the IMF was planning on selling the remainder of 403.3 tons of gold, 191.3 to be exact, on the open market. Gold was immediately taken down hard in the thin trading conditions, dropping more than $14 on the day.
There are several things about this that should be noted. First is the timing – it comes on the heels of a resumption of the uptrend in gold with many technical indicators having moved into the buy mode. It also coincides with another brand new all time high in the price of Gold priced in Euro terms at the London PM Fix.
Those of us who have been around the gold market long enough know full well that the timing of this announcement is therefore no coincidence but was timed to attempt to derail the returning bullish sentiment in the yellow metal. Why announce the sale publicly which is guaranteed to receive a lower price for the metal than if the IMF had just quietly sold the metal into the market. This is reminiscent of then Prime Minister Gordon Brown’s announcement that England intended to sell its hoard of gold. That guaranteed that Britain would receive the lowest price possible.
Secondly, China was one-upped by India’s purchase of some 200 tons of gold late last year and got caught flat footed. The spin on this gold sale is that the IMF announcing that they would sell the gold into the open market means that Central Bank demand for gold is not as vibrant as the market was led to believe. That is an interesting tall tale. The simple truth is that Central Banks do not generally buy gold and announce their intentions to do so beforehand. Neither do they tend to buy when prices are moving higher as the momentum based hedge funds do. Time and time again we have seen that the CBs buy gold during episodes of price weakness. Once news hit the wire last year that India had bought 200 tons of gold, the price never looked back and shot straight to $1220+. Any Asian Central Bank that missed buying the gold as a result is certainly not going to panic and rush into the market to obtain it. They are waiting for lower prices where they will acquire the metal. To state therefore that Central Bank demand for gold must not be as robust as originally thought is quite shallow analysis.
My view is that this announcement means nothing in the longer term scheme but was rather a cheap trick to take the market lower. We have already seen this week how some noted elites were pooh-poohing gold and trash talking the metal all the while they were acquiring a position in it. Nothing ever changes in this gold market. It is still one of the least transparent markets on the planet and perhaps the most prone to official sector interference.
Do not be disturbed by the news. It is probably going to be a one or two day wonder and then that will be it. Gold will then go back to trading the currencies taking its cues from the action in the Dollar.
Incidentally, this sale is supposedly going to be phased in over an extended period of time. Rest assured, the IMF would love nothing better than to sell the whole 191 tons in one lump sum to another Asian Central Bank.
US agenda for war is usually for oil..
Iraq,Afghanistan, next will be Iran..
commodities will all gain in the long run..
the stock markets are rigged..
I am still holding my small investment in GLD, though i wish it cld go as high as 2000 or 5000 per ounce, am looking into every possibility to sell if it signals a 'SELL'.
George Soro's investment in gold ETF has doubled, but, did he short it after investing? No one knows for they dont have to report their 'Short' positions.
US political stands could influence the stock market. During Bush's administration, his cabinet is full of 'business minded' people who involved in Oil business. Bush himself owns oil field, didnt he? Political stands could influence Oil prices, so as Gold prices. :)
Soros doubled gold ETF investment
BOSTON - Billionaire investor George Soros'hedge fund more than doubled its bet on the price of gold during the fourth quarter, a portion of the firm's total US-listed equity holdings of US$8.8 billion at the end of 2009.
The New York-based firm also disclosed in a filing on Tuesday with the US Securities and Exchange Commission that it bought almost 95 million shares of Citigroup during the quarter, worth US$313 million by the end of the year. Mr Soros reported no holdings of the troubled bank's shares at the end of the third quarter.
Soros Fund Management owned 6.2 million shares of SPDR Gold Trust - an exchange-traded fund that owns gold bullion - at the end of the year worth US$663 million. That was up from 2.5 million shares at the end of the third quarter.
Mr Soros and other noted investors like John Paulson have previously touted gold as a hedge against inflation, further economic turmoil or a decline in the value of the US dollar.
Last month at the World Economic Forum in Davos, Mr Soros said 'the ultimate asset bubble is gold,' but he declined to say whether he was investing in the precious metal.
The filing for the end of the fourth quarter revealed no listing for Canadian chemicals manufacturer Potash Corp of Saskatchewan, Mr Soros' largest holding at the end of the third quarter.
That could indicate that the almost 3 million share investment was sold during the fourth quarter. But large investors occasionally leave off major holdings when they are trading the position and disclose their investment in a confidential filing with the SEC or in a subsequent amendment to their public report.
The firm does not comment on its holdings, a spokesman said.
Mr Soros' most recent SEC filing also revealed large bets on seed producer Monsanto and Brazilian gas and oil giant Petroleo Brasileiro SA, also known as Petrobras.
The firm held 3.9 million shares of Monsanto at the end of the fourth quarter, up from 1.1 million three months earlier.
Mr Soros also reported a stake of 7.7 million shares of Petrobras's U.S. ADRs, worth US$369 million, and a slight increase from the 7.4 million receipts held at the end of the third quarter. Soros had another 5.9 million shares of nonvoting ADRs worth US$249 million, virtually unchanged from his holding three months earlier.
Mr Soros also reported raising his holdings in oil company Hess Corp and telecommunications company AT&T Inc among others.
According to the regulatory filing, Soros Fund Management raised its holding in carmaker Ford Motor Co to 10.9 million shares from 7.3 million shares at the end of the third quarter, when Mr Soros started to accumulate his position.
Mr Soros also raised his holdings of AT&T for the second straight quarter to 4.7 million shares at the end of the fourth quarter from 4.2 million shares at the end of the third quarter.
Large investors such as Mr Soros are required to report holdings of US-listed equities at the end of each quarter, but not short positions or holdings of other securities like bonds and over-the-counter derivatives contracts. Investors are also allowed to file some holdings on confidential reports if they are trading into or out of a position at the end of a quarter. -- REUTERS
As people say gold price is controlled by central banker, if its true, the price of gold could drop below half of what it is now if they dont want gold to go up. see below -
But besides waving a gun at anxious gold owners, there seemed only one other route to stopping speculators profiting from – or rather, defending themselves against – the demise of the Dollar.
Fix it up with higher interest rates. The Volcker Fed took US interest rates to 19%...and put the real cost of Dollars above 9% after adjusting for inflation. The Gold Price sank almost in half inside 12 months.
Because just like Wayne Angell says, To do that, however, they have to raise interest rates dramatically above inflation. If you don't trust the Bernanke Fed to do that – not least after they cut 0.5% off the returns paid to Dollar savings in mid-Sept. – then you might want to consider Buying Gold today.
ozone2002 ( Date: 16-Feb-2010 08:48) Posted:
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If Gold is to hit $5,000 in 2 years time, I'll be very frighten.
This is hyper inflation and can cause a Global crisis.
I think $2,000 in 2 years is more like it.
ozone2002 ( Date: 16-Feb-2010 08:48) Posted:
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Gold price will surge to $5,000 in two years
Gold Prices will climb to $5,000 within two years due to US dollar weakness and significant buying by players in the hedge fund industry looking to preserve the value of their funds.
That is the opinion of New Zealand market trading expert Welles Wilder, who has previously been highlighted by publications such as Forbes and Barron’s for his skill in the markets, stuff.co.nz reports.
His belief was revealed by another local trader Oli Hille, who trades in New Zealand’s currency markets, and is currently writing a book, which is to be titled Creating the Perfect Lifestyle.
Mr Hille told the news provider: “He implies his call is based on the US dollar becoming weaker and weaker and basically falling out of bed.”
The trader learnt of Mr Wilder’s opinion on Gold Prices while interviewing him for the book, which also includes an interview with New Zealand’s prime minister John Key.
It appears there is a lot of bullish sentiment on Buying Gold outside of the US, with British miner Scotgold Resources’ chief executive Chris Sangster telling the Daily Record: “We see the Gold Price staying high in the long term.”
Thanks for the sources, I'll go check them out :)
You can go to UOB head branch to buy physical Gold Bars and Gold Coins.
Or you can open a Gold Savings Account with UOB and Buy/Sell Gold through UOB.
Go upstairs and open an account with Phillip Futures...
You can trade spot gold...
