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SINGAPORE, April 29 (Reuters) - Silver and gold were within sight of
historic highs on Friday and could resume an uptrend as the dollar held near
three-year lows against a basket of currencies on the Federal Reserve's
intention to keep interest rates near zero.
FUNDAMENTALS
* Silver barely moved, standing at 48.28 an ounce by 0017 GMT, having rallied to a record at $49.51 an ounce on Thursday.
* Spot gold added 75 cents to $1,535.70 an ounce after hitting a lifetime high around $1,538 an ounce in the previous session.
* Soaring prices hurt the bottom line of certain manufacturers, including photography company Eastman Kodak , which said on Thursday a hike in raw material costs, particularly silver, led to a decrease in its film business revenue. [ID:nN28229826]
* The dollar wallowed at three-year lows against a basket of currencies early in Asia on Friday and remained on track for its biggest weekly fall in 14 weeks, though selling pressure eased as bears were already very short.
MARKET NEWS
* Tokyo stocks climbed 1.6 percent on Thursday to their highest since last's month earthquake, helped by better-than-expected domestic earnings and strength in U.S. shares after the Federal Reserve pledged to hold short-term rates near zero.
* U.S. crude oil futures rose on Thursday to hit a 31-month high settlement after a volatile trading session that saw a weak dollar attract investors seeking alternative assets.
================================================================================================
Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
=============================================================================================
Closing Gold & Silver Market Report – 4/28/2011
April 28, 2011GOLD PRICES EXTEND RECORD BREAKING RALLY – Gold is an insurance policy and today was a day that highlighted the need for insurance. The US dollar fell even further as it was given no support by yesterday's Fed announcement. The US jobless claims were supposed to get better, (according to the experts),but they went up and not down. The first quarter GNP was supposed to be 2.0% (according to the experts), but it came in at 1.8%. The previous quarter it was 3.1%. Fed Chairman Bernanke assures us these are transitory issues. “Bernanke basically said, ‘hey, we are going to let the U.S. dollar just get crushed,’” said Michael K. Smith, with T & K Futures and Options Inc. in Florida. Now throw in the death toll from yesterday’s tornado outbreak is up to 284, and it further highlights the need for insurance.
In 2010, Central Banks became net buyers of gold for the first time ever. In 2011, Central banks are still not selling and Russia and Bolivia just purchased more. Investors are watching the China Central bank closely because they have given signals they might be sellers of dollars to purchase more gold. Their current gold reserves are on 1.7%. while most western countries are over 60%. Although China is only at 1.7% of reserves this still puts them in the top five for total gold owned. If they just double their position, it will affect gold prices.
At 4PM (CT) the APMEX precious metal prices were:
- Gold price -$1,537.50 (up $18.90)
- Silver price - $48.52 (up $2.49)
================================================================================================
Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
=============================================================================================
//
Morning Gold & Silver Market Report- April 28,2011
April 28, 2011GOLD IS RISING AS THE DOLLAR IS SINKING- Yesterday’s Fed decision to stay the course has put added pressure on the US dollar. Chairman Bernanke stated that he considers inflationary pressures transitory and the lower than expected first quarter economic growth, transitory. He even might have left the door open for another round of monetary easing, once QE2 has expired. Gold and silver prices immediately shot up as a bet against the wisdom of the Fed policy. The stock market went up capitalizing on continued easy money.
The unprecedented spring tornado outbreak continued yesterday, as multiple tornadoes struck in Alabama. The current death toll is at 176. It is not only economic and geopolitical uncertainties that can drive people to safe haven investments such as gold, the uncertainty of natural disasters can as well.
Stock futures are now falling, as the weekly jobless claims report fell more than expected. We lost 25,000 jobs. Economists surveyed by Reuters had expected claims to fall to 392,000, but they rose to 429,000.
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,532.80 (up $14.70)
- Silver price - $48.51 (up $2.47)
================================================================================================
Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
=============================================================================================
//
April 28, 2011
Bernanke Has Officially Killed the Dollar
Yesterday, Bernanke staged a " conference" answering " questions" from " journalists." It's striking that the man with the most power in the world would be handled with kid gloves. After all, if he's in charge of directing the world's reserve currency, surely he could answer a few hardball questions about his insane policies.
However, instead of holding this miscreant accountable for his monetary madness, the " journalists" let him prattle on with his meaningless drivel.
The markets, on the other hand, read through his BS. Soon after the conference the US Dollar collapsed to a three year low.
At this point, there is only one line of support left for the US Dollar. That's one line, standing between us and the abyss of all-time lows: a point at which there is no support left.
Gold and Silver also bounced back after having been slammed by various suppression schemes last week. All those, " the rally is over," folks got shanked in the ribs as Gold hit a new all-time high and Silver retraced almost all of its former losses in a few hours.
In other words, the great inflationary collapse of the US Dollar is in full effect. Again, there is only one line of support left for the greenback. If Bernanke was going to do ANYTHING to support the Dollar, yesterday was the day for him to have done it. Instead, we're going to enter a mega-inflationary collapse.
Indeed, at the current pace we're going the US Dollar will be collapsing within one month. This could change, but we'd need another 2008 type event to pull the US Dollar back from the brink. And judging from stocks and inflation hedges' performance today, that ain't happening. So if you are not already preparing for mega-inflation, you need to get moving now. Because time is running out.
======================================Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ 
How?
Message(Contact) me here for details. //
======================================Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
//
* Spot gold hits record at $1,534.30
* iShares Silver Trust holdings fall by 1.8 percent
* Coming up: U.S. Q1 GDP preliminary 1230 GMT
By Rebekah Curtis
LONDON, April 28 (Reuters) - Gold hit record highs on Thursday as the dollar's three-year low against a basket of major currencies attracted non-U.S. investors, after the United States signalled it would retain accommodative monetary policy.
Spot gold XAU= ascended to a lifetime high of $1,534.30 an ounce, breaking records for the second straight session. It traded at $1,530.54 an ounce at 1116 GMT, up from $1,526.40 late in New York on Wednesday.
U.S. gold futures GCcv1 also hit an all-time high at $1,535.1 an ounce, and trimmed gains to $1,531.
The dollar index .DXY, a measure of the greenback's strength against a basket of major currencies, dipped to a three-year low after the U.S. Federal Reserve signalled no rush to reverse low interest rates in order to support economic recovery. [USD/]
" Everything is dollar-related and safe-haven buying," said MKS Finance head of trading Afshin Nabavi.
" The Fed decision was not really a surprise, nothing has changed, but the tone of the statement from Bernanke left the impression that it is going to be a while before any rate hikes will be considered."
The weakening dollar has been a key driver behind gold's rally in recent weeks, alongside concerns over the ongoing crisis in the Middle East and North Africa region, sovereign debt problems in euro zone and rising inflation worldwide.
PHYSICAL BUYING
Physical gold buying was seen active in Asia while scrap selling was limited, as market participants remained bullish even after gold struck record highs in nine out of the past ten sessions, dealers said.
Spot silver XAG=, which has rocketed more than 50 percent so far this year, rose to $48.56 an ounce against $47.76 an ounce late in New York on Wednesday.
U.S. silver futures SIcv1 jumped as high as $48.75 in early trade, following a climb of as much as 7 percent on Wednesday. They were later at $48.61.
As silver prices advanced, holdings in the iShares Silver
Trust (SLV), the world's largest silver-backed exchange-traded
fund, dipped 1.8 percent to 11,053.20 by April 27 from the
previous session.Gold and silver may both see more upside, but the risk of a pullback in silver is larger than in gold due to the more speculative nature of the silver market, traders said.
Platinum was at $1,827 an ounce from $1,819.45 and palladium XPD= was at $767.47 an ounce from$ 763.45
" The market has been pushed higher by prospects of a weaker dollar, inflation concerns and all the debt problems," said Robin Bhar, an analyst at Credit Agricole, adding gold looked set to touch new record highs soon.
======================================Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
//
* Dollar at three-year low after Bernanke news conference
* Gold hits new high for eighth time in nine sessions
* India shows strong appetite for physical silver (Recasts, updates prices, market activity) (Corrects silver milestone in paragraph 12 to 31-year high, not 33-year high)
By David Sheppard
NEW YORK, April 27 (Reuters) - Gold rose to a record high of almost $1,530 an ounce on Wednesday and silver jumped 6 percent after the Chairman of the Federal Reserve gave no signs that the central bank would tighten monetary policy, leading the dollar to a three-year low.
It was the eighth record high in nine trading sessions for the gold, extending a rally that has seen the precious metal rise by more than $50 an ounce since April 15 and by more than $200 since the end of January.
Spot gold rose more than 1.5 percent to touch a record $1,529.90 an ounce after the Fed said it would end its $600 billion bond buying stimulus program in June as planned, and Chairman Ben Bernanke said he was in no rush to raise to raise short-term interest rates. Lower interest rates tend to fuel commodity prices, driving investors into riskier assets and pushing up prices.
" There was a contingent out there that believed there might be a hawkish expression in the statement and we didn't see that and I think gold moved up on that," said Bart Melek, director of commodities with TD Bank Financial Group.
Spot gold was last up 1.3 percent at $1,526.91 an ounce by 4:17 p.m. EDT (2017 GMT), easing slightly from the earlier record. U.S. futures for June delivery were last up 1.6 percent at $1,526.90 in after-hours trade, having also touched a record of $1,530.70 an ounce. The official settlement for Wednesday was $1,517.10 an ounce, up $13.60.
James Steel, metals analyst and Senior Vice President at HSBC in New York said the Fed's post-meeting statement had " put the nail in the coffin" of the idea that the Fed could tighten monetary policy faster than the market had previously thought.
" There will be no speed about reversing policy. Their accommodative policy has been ascribed in part to concerns about higher inflation and also have pumped up commodity demand abroad," Steel said. " Both of those things are good for gold."
Bernanke, speaking at the central bank's first post-decision news conference, said he expected a relatively weak number for U.S. GDP in the first quarter, and it would be at least two more meetings before the Fed considered raising rates.
The dollar fell to a three-year low against a basket of currencies as Bernanke was speaking. The euro rose versus the dollar to almost $1.49, the highest level since December 2009.
Credit Suisse analyst Tom Kendall said the weak dollar and other drivers for the gold price remained in place.
" It is the dollar, it is sovereign debt, whether that is the U.S. or the periphery of Europe. It is headline rates of inflation in emerging markets and developed markets and it is a bit of geopolitical uncertainty."
Spot silver jumped by as much as 6 percent to an intraday high of $48.24 an ounce but was still below the 31-year peak of $49.31 hit on Monday. It remains on track for a 25-percent gain this month and a near 50-percent rise this year, which would make it the top performing precious metal and commodity of 2011.
Spot silver was up 5.5 percent at $47.98 an ounce, while U.S. silver was last up 6.4 percent -- posting its largest percentage gain this year -- at $47.95 in after-hours trade. The official settlement earlier was $45.9580 an ounce, up 90.80 cents.
Implied volatility in silver options has been at its highest this week since November last year as the spot price has swung from lows around $43 to highs above $49 in the space of a week.
======================================
Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
//
Closing Gold & Silver Market Report – 4/27/2011
April 27, 2011BERNANKE SPEAKS PRECIOUS METALS SOAR – The much anticipated Fed announcement came out today and they are continuing with their stimulus policy because they feel the economic growth is slowing and inflation is not a concern right now. The Fed 2011 economic growth estimate was cut from 3.4% – 3.9% to 3.1% – 3.3%. " The markdown of growth in 2011, in particular, reflects the somewhat slower than anticipated pace of growth in the first quarter," Bernanke said in prepared remarks before he took reporter questions. This announcement is expected to put even more downward pressure on an already falling US dollar.
There are mixed opinions as to whether the Fed shut the door on a possible QE3 or left it slightly ajar. The statement that gives a clue to yet a third round of quantitative easing is that his group will “regularly review the size and composition of its securities holdings in light of incoming information and is prepared to adjust those holdings as needed to best foster maximum employment and price stability.” From this writer’s perspective, they certainly appear to have left themselves some wiggle room.
Long-term bond prices fell after Mr. Bernanke’s speech…the US Dollar fell to an August 2008 low… gold and precious metals go up.
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1,528.50 (up $24.00)
- Silver price -$47.85 (up $2.72)
======================================
Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
//
Watch
======================================
Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
//
Morning Gold & Silver Market Report – 4/27/2011
April 27, 2011INVESTORS AWAIT FED MEETING ANNOUNCEMENT – The US dollar drops again to nearly a three year low against a basket of six other major currencies. Gold and silver investors will be closely monitoring the Fed announcement today, at 11:30 AM (ET) and the first ever post-meeting press conference by a Fed Chairman. Mr. Bernanke will conduct this conference at 2:30PM (ET). Will the Fed continue down the road of easy money or will they began to signal inflation fighting measures? Easy monetary policies have driven the price of gold and silver up. “A lot of gold buyers will be waiting for signals from the Fed,” said Bernard Dahdah, a London-based analyst at Natixis Commodity Markets Ltd. Any indications “on currency and interest rates could highly affect the price of gold. For the next weeks we view gold as being driven by the dollar.”
The S& P cut Japan’s credit rating outlook from neutral to negative, as a result of the recent earthquakes and tsunami. A similar move was announced just weeks ago for the US credit rating outlook. Japan had already been struggling to come up with a deficit reduction plan before the earthquakes struck. Today’s downgrade is recognition that this task has become even more daunting.
At 8 AM (CT) the APMEX precious metal prices were:
- Gold price - $1,510.50 (up $6.00)
- Silver price - $45.68 (up 56 cents)
======================================
Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
//
Closing Gold & Silver Market Report – 4/26/2011
April 26, 2011GOLD – THE PERFECT ANTI-INVESTMENT – The University of Texas made an extraordinary investment decision on April 15th, when they not only moved 5% of their assets into gold they actually bought gold and not an ETF. This second-largest academic endowment in the US, decided that they needed insurance against inflation, as a result of current fiscal and monetary policies. “The role gold plays in our portfolio is as a hedge against currencies. The concern is that we have excess monetary and fiscal stimulus,” Bruce Zimmerman, chief executive officer of The University of Texas Investment Management Company told CNBC television. Mr.Zimmerman also described gold as an anti-currency, being it is in limited supply and you cannot just print some more. Gold will not only protect you against inflation and currency risk, but market failure as well.
The US dollar slipped to near 2 1/2 year lows today, on expectations that the Fed will give no indication on Wednesday, when they might end their loose monetary policies. " I don't think [the Fed is] ready, but they are preparing the groundwork" for an eventual tightening, said Joseph Trevisani, chief market analyst at FX Solutions. If the Fed continues to downplay inflation, it is likely the value of the dollar will continue to decline.
At 4PM (CT) the APMEX precious metal prices were:
- Gold price - $1,508.30 (down $1,80)
- Silver price - $45.65 (down $1.57)
======================================
Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
//
Morning Gold & Silver Market Report – 4/26/2011
April 26, 2011HOME PRICES DROP AGAIN – The Case-Shiller report came out this morning and home prices fell for the 8th straight month in February. Although this drop exceeded expectations by 0.3%, it is still indicative of a housing market struggling to recover.
Gold and silver are recovering this morning from earlier losses in the Asian markets. The London market was closed on Monday, so trading volumes were thin. The opening of the London market today should provide indications as to the short term direction of gold and silver.
Greece’s budget deficit went up 143% more than projected. The culprit is lower-than-expected government revenues as a result of a recession, that is worse than expected. Greek government bonds will come under added pressure and no doubt fuel rumors that debt re-structuring will be needed.
Syria has stepped up violence against government protestors even after a weekend where 80 protestors were killed. The Syrian government appears to prefer force rather than reform.
In the US, the market is anxiously awaiting Wednesday’s Fed announcement and the first ever post-announcement press conference by a Fed Chairman.The Fed’s dilemma is whether to risk the economic recovery by initiating inflation fighting measures, or keep on the current path. The futures markets are up, which indicates a bet on the continuation on the current path.
At 8AM (CT) the APMEX precious metal prices were:
- Gold price - $1,504.70 (down $5.40)
- Silver price - $45.83 (down $1.39)
======================================Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
//
LONDON, April 26 (Reuters) - Silver fell nearly 5 percent on Tuesday, snapping a rally in previous sessions that had carried it close to a record high, as option traders sold back metal to cover risks ahead of options expiry later in the day.
PRICES * Spot gold XAU= was bid at $1503.31 an ounce at 0645 GMT from $1,508.45 late in New York on Monday.
* Silver XAG= was at $45.94 from $46.90.
* Platinum XPT= at $1,805.74 from $1,819.30.
* Palladium XPD= at $757.80 from $757.80
DATA/EVENTS
* U.S. consumer confidence, April - 1400 GMT
* Redbook weekly U.S. retail sales - 1255 GMT
* U.S. housing building permits revisions for March
* Fed's Federal Open Market Committee (FOMC) holds two-day meeting on interest rates (to April 27, 2011)
* SEC, CFTC hold meeting on implementation of Dodd-Frank for swaps and security-based swaps (to April 27).
MARKET NEWS
* Silver fell and Asian shares pulled back from recent three-year highs in a bout of profit-taking before the Federal Reserve meeting this week where investors are seeking clues on when it plans to begin exiting its ultra-easy monetary policy.
* The euro slipped after European Central Bank Governor Jean-Claude Trichet said he shares the view that a strong dollar is in the interest of the United States, a comment taken by some market players as showing frustration over the dollar's relentless fall and also an attempt to talk up the currency.
* U.S. crude futures fell more than $1 as investors reduced risk ahead of a meeting of the U.S. Federal Reserve and after Saudi Aramco's chief executive said the kingdom was not comfortable with current oil prices.
* European shares are set to fall tracking Wall Street and in Asia, as investors take a cautious stance ahead of the start of the Federal Reserve meeting.
* In the lightest volume session of the year, U.S. stocks fell on Monday after a lowered outlook from Kimberly-Clark increased concerns about higher commodity costs squeezing profits in coming quarters.
FUNDAMENTALS
* MMTC, India's largest bullion importer, will almost double its silver purchases this fiscal year to 1,500 tonnes despite soaring prices as buying continues from investors expecting stronger returns than gold.
* Options activity in a silver-backed exchange-traded fund soared on Monday as speculators attempted to jump on the " silver bandwagon" following a surge that brought the price of silver within a hair of its all-time record.
* China's Minmetals Resources (1208.HK) bowed out of the battle for copper miner Equinox Minerals (EQN.TO), saying Barrick Gold Corp's (ABX.TO) C$7.3 billion ($7.68 billion) bid was too rich.
TECHNICALS
* Gold support at $1,489 an ounce, resistance at $1,539 an ounce and 14-day RSI at 71.87.
* Platinum support at $1,789 an ounce, resistance at $1,839 and 14-day RSI at 50.060.
* Silver support at $44.10 an ounce, resistance at $48.65 and 14-day RSI at 78.82.
(Editing by Jason Neely)
=============================================================================================
Diversify your portfolio.
To reach financially freedom, you need to invest.
Invest in land and get a double return in 4 to 5 years.
It is just about 91 shares of GLD counter for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
How?
Message(Contact) me here for details.
///
Gold Outlook Bullish on Weaker Dollar, Continued Geopolitical Concerns
Fundamental Forecast for Gold: Bullish
//= = = =
Diversify your portfolio.Invest in land and get a double return in 4 to 5 years.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ
Plan your future now and be financially independence.
How?
Message(Contact) me here for details.