GLD USD    Last:424.56    -10.24

Gold going up this year?

Congrates!  I only left with this counter and 1 other stock to monitor..... Gold cld perform better than stock at this moment....keep monitoring, Cheers!    :)

ozone2002      ( Date: 05-Nov-2009 11:50) Posted: Gold hit 1090.. it's time for wealth preservation.. Don't wait.. Park ur money in gold .. the only credible currency..

 

Gold hit 1090.. it's time for wealth preservation..

Don't wait.. Park ur money in gold .. the only credible currency..

 

The whole inflation versus deflation debate is actually much less important to me now that I understand the role of Gold. Gold protects against financial and fiat currency instability and a loss of confidence in "the powers that be." It is Gold's time to shine as an asset class during this Kondratieff Winter, whether the Dollar does a Prechter deflationary death dance higher first or a straight Sinclair inflationary flop down to the 52 U.S. Dollar Index level (from the 75 close on Friday). People who only see "Dollar Up, Gold Down" and vice versa are missing the bigger picture. All global fiat currencies are sinking together, just at different rates. It is simply Gold's turn as an asset class. Cycles. Greed. Fear. Gold will be a lousy investment again in 5-10 years, but it's WAY TOO EARLY in the cycle to be worried about "the" top in Gold. Wake me when we get to $1500/oz. and I'll be happy to revisit the issue (with another bullish commentary about how the next stop is $2,000).

So, whether its deflation or inflation or both, Gold is going higher. This a confidence issue and a secular cyclical phenomenon. "Gold good, stocks bad" is a trend set to continue.

Having said this, I still enjoy the inflation versus deflation debate. From a practical standpoint, as Martin Armstrong has said (see below), big money that moves currency markets can flow almost anywhere in the world to find a safe haven. In the early 1930s, capital flowed into the United States once the major economies like Britain and Switzerland abandoned the Gold standard, causing a crisis in confidence in these previously "good as Gold" currencies. This global flow of capital into the U.S. Dollar caused our Dollar to rise in relative value, aggravating the natural state of deflation we were experiencing at the time.

Naturally, Europeans sought the safety of a foreign currency backed by Gold once their own currencies were aggressively devalued by discontinuing their respective Gold pegs. In fact, if the United States stuck to its guns, it probably would have lost all its Gold to the hoards of paper note-bearing European souls looking for real money. American citizens followed suit and traded their notes for Gold (benefit of a true Gold standard: no commissions or premiums!) - these evil Gold hoarders of course had to be stopped and/or punished. Gold was thus confiscated from American citizens (with safety deposit boxes at times watched by officials to prevent clandestine Gold ownership) and the American Gold standard was finally weakened to help break the cycle of Gold loss and deflation. An overnight 69% currency devaluation ($20.67/oz. to $35/oz.) and the criminalization of private Gold ownership in the United States (ending a "true" Gold standard period in this country) was all it took. As destructive as they were to confidence and people's savings, these Roosevelt mandates helped fuel a weak reflationary cyclical general stock bull market (1933-1937 was not a weak cyclical bull market for Gold miners, by the way).

Will we repeat a 1930s deflationary "collapse" scenario? Will we have a major currency event? Though deflationary forces are strong due to real estate and banking/credit/debt fiascos, confidence in the Dollar is low. The world's greatest debtor nation has not inspired much confidence in global market participants seeking a safe haven. And I am not talking about bear market currency rallies here, I am talking about the dominant long-term trend.

Will Bernanke and his U.S. Treasury lackeys finally destroy the last shred of confidence in Uncle Buck with their idiocracy? Will capital flow into or out of the United States when the next wave of the global crisis occurs? Again, not talking about dead cat bounces here, talking about the dominant long-term trend. Global capital flows have more control over the fate of the Dollar (and every international currency) than Ber-spank-me, but Benny's actions can certainly cause some of our creditors to figure out sooner that it may be better to walk away and simply write off their bad debts. Whether you've chosen sides on the inflation/deflation debate or not, this debate does allow you to recognize the nasty war of fundamental forces that is sure to cause further economic chaos in any scenario.

Me, I see further capital flight away from many financial casinos/markets around the world coming. I see a further loss of confidence in bankstas, Wall Street hustlers and paper magic notes designed to explode. I think some of this global money will be seeking a safe haven in Gold. I am not talking massive amounts of money, as Gold is a small market. I am talking about a few more "elephant" investors (i.e. governments, large private institutional funds) around the world deciding to up their physical Gold insurance from 1% to 5% of their portfolio. That's all it would take to start/continue a big move higher in the Gold price from current levels.

Gold is safe, it is reliable, it requires no government assurances or bail-outs to stay in business, it does well when there is little confidence in the system and it is not debt-based. These are all things you want during a contractionary secular bear market in general stocks and real estate. Sure, governments can try to further tax or even confiscate Gold (again), but the government historically gets too tyrannical in trying to tax or confiscate all kinds of personal property at this stage of the economic cycle (including stocks and real estate). This is hardly a unique problem for those who take the plunge with Gold, despite paperbug concerns. At least Gold can be held quietly "off-ledger" until more rational minds prevail (this is not as easy with stocks and real estate).

In fact, if the government does "ban" Gold or tax it more excessively than it already does, nothing could be more patriotic than to completely ignore such a decree as a moral act of civil disobedience. By the way, if anyone in officialdom is reading, I sold all my Gold last year and this is just an academic intellectual exercise designed to make sure Americans follow everything their mama guvmint sez by pointing out the insanity of messing with Big Brother, who is all-knowing, all-powerful, and should never be disobeyed. I am a paperbug after all, I swear.

I believe the global paper fiat system is breaking down. I believe people will increasingly trade their paper for Gold regardless of whether we undergo deflation or inflation. After a 20 year bear market from 1980-2000, Gold ain't done after a 4 fold gain. Has everyone forgotten how paper fiat market bubbles and Gold manias work?

I suppose that the economic events of the 1930s or 1970s, both inducing Gold and Gold stock manias, could not possibly happen again. Ever. 40 year intervals (if this is, perhaps, say a normal repetitive cycle) would put us at the 2010s for a new Gold mania, but Gold is dead as an asset class forever. Gold will never again have a serious bull market. Oil can go up 14 fold in 10 years but Gold couldn't possibly go up even 10 fold in the same rough period (which would put us at $2500/ounce). The last bull market in Gold on a fiat paper system took Gold prices up 24 fold in 9 years ($35 to $850). The S&P 500 went up 16 fold from 1980 to 2000. This time, a 4 fold gain over a decade in a hated asset still considered worthless by the mainstream crowd is a bubble mania waiting to pop any second and take the Gold price back to Prechterite levels?! No sale, sorry...

I believe $2,000/oz is a minimum conservative upside target for Gold and it wouldn't shock me to get to $10,000/oz. Until the Dow to Gold ratio gets below 2, I wouldn't even consider that the Gold bull market might be over. We've got a long ways to go. Ignore the short-term noise and the paperbugs. Forget the $25-50 swings. Sit tight and be right.

 

Gold looks great right now. Another day comfortably above $1000/ounce, further establishing this psychological price level as a floor instead of as a ceiling. Once you're into 4 digits, changing the first number in the four digit sequence no longer seems impossible. Currently, we are in a short-term consolidation pattern that looks very healthy.

Here's a 1 year daily chart of the GLD ETF, used instead of the Gold price because it shows volume patterns:



Next stop for Gold is $1100 and there's only psychological resistance at this level (i.e. may not actually stop at $1100 for any length of time). The GDX ETF looks like it is about to head for its all time highs:



The opposite volume pattern is happening in the Dow Jones Industrial Average. Volume has fallen off a cliff over the past 6 months as the Dow moves higher while GDX volume has expanded to new impressive highs over this time.

Gold often corrects towards the end of October (a seasonal pattern) as it is doing now. This is healthy and normal. I don't think we'll have to wait more than a week or so for another move higher. If the consolidation lasts longer, that would actually be even more bullish, as this means it is a major correction in this intermediate-term bull trend rather than a minor correction. A major correction that moves sideways without a significant price retracement lower suggests that the upside move that follows it will be extremely strong, so another 2-3 weeks of sideways action would not upset me at all, I just think it's less likely.

Today's commitment of traders report continues to show expanding open interest (i.e. greater number of open contracts), which is bullish. People focusing on the "high" short position don't get it. They should be focusing on the fact that every short needs a long to go with it, so why aren't they calling it a high "long" position? The Gold bears are scared right now, not the bulls. Expanding open interest in the futures market is a healthy sign during a bull run, not a bearish sign.

The institutional investors are starting to herd into Gold and Gold stocks (articles like this are becoming more and more frequent). This is pre-mania type of fundamental news. The big money moves in and the price starts to rise strongly and inexorably for a while. After this occurs for several more months to a few years, retail investors will finally show up in droves and grab the bull by its horns for the final zany rush higher. We are currently a long way away from this point. For now, Gold bulls should just relax, stay the course and enjoy the ride higher.

 

Gold looks set to soar --------

Banks Tell Traders To Keep Attacking The Dollar

 

Gold should be valued at around S$40 per gram now

niuyear      ( Date: 16-Oct-2009 14:51) Posted: Gold When you're trying to identify how much gold you've got in a piece, you're going to follow the same guidelines as when checking silver, only this time you're looking for a 10K, 14K, or similar on the item. If you see certain letters after this value, such as EP, GEP, or P, it means that the item is gold plated and not solid. Currently gold is at a high and valued at about $24 per gram, with predictions of rising again in the future. The price assumes you have a 24K piece though, so a little math is required to find the value of your ring/necklace/etc. To find the market value of your item, use the following equation: Market Value = (karats / 24) x ($24) x (weight in grams) In this case, a 10K gold ring weighing 3.0 grams would be worth: (10/24) x ($24) x (3.0) = $29.95. So for that ring you'd be looking at market value of about thirty bucks.

 

Gold

When you're trying to identify how much gold you've got in a piece, you're going to follow the same guidelines as when checking silver, only this time you're looking for a 10K, 14K, or similar on the item. If you see certain letters after this value, such as EP, GEP, or P, it means that the item is gold plated and not solid.

Currently gold is at a high and valued at about $24 per gram, with predictions of rising again in the future. The price assumes you have a 24K piece though, so a little math is required to find the value of your ring/necklace/etc. To find the market value of your item, use the following equation:

Market Value = (karats / 24) x ($24) x (weight in grams)

In this case, a 10K gold ring weighing 3.0 grams would be worth: (10/24) x ($24) x (3.0) = $29.95. So for that ring you'd be looking at market value of about thirty bucks.

 

Remove a tile from your own house then bury those gold bar underneath it. I think colour of gold will not get tarnished cos it is gold....  hahaha

Hulumas      ( Date: 16-Oct-2009 14:25) Posted: Back to basic........ ground keeping but beware it could run away deeper into the ground!!! mario1      ( Date: 16-Oct-2009 12:17) Posted: i heard physical gold is the safest but got to find a place to keep it safe..

 

thought of just getting the gold shares, but ETF doesn't seem very popular in spore.. buy sell price gap is big and not much liquidity, so few pple trading.. However, guess gold is for long.. 

 

Silly goat will keep it ground or in Milo tin.

Get a reasonable good safe & lock it up.

 

Back to basic........ ground keeping but beware it could run away deeper into the ground!!!

mario1      ( Date: 16-Oct-2009 12:17) Posted: i heard physical gold is the safest but got to find a place to keep it safe..

 

i heard physical gold is the safest but got to find a place to keep it safe..

 

one of my friends actually went to those jewellry shops & bought gold bars, usually in those of 100g per piece.

 

 

 

I only buy this counter and not holding physical gold (not rich to buy gold bar, LOL).

Cheongwee,

I think you have not sold all your gold investments huh?

 

mario1      ( Date: 16-Oct-2009 11:59) Posted: which type of gold investment is the cheapest and hassel free? What about the ETF goldshare traded in SGX?

 

which type of gold investment is the cheapest and hassel free? What about the ETF goldshare traded in SGX?

 

Instead of letting US$ depreciating daily, buy gold is another alternative.   

 

Gold Giving Another Strong Buying Signal

by Claus Vogt   10-14-09

In my September 9 Money and Markets column I showed you this gold chart:

Source: www.decisionpoint.com

On that date, I said, “This breakout of a huge triangle is a clear technical buying signal.” I added that the minimum price target of this triangle formation was roughly $1,100. This was well above major resistance in the $1,000 area, thus hinting that another major breakout and buying signal would take place soon.

Well, that’s exactly what happened last week!

Gold Hit 1,059 …
Triggering Another Major Buy Signal

Take a look at the weekly chart below. It gives you a good perspective of how important this breakout to new high ground actually is. As you can see, it signals the end of a medium-term correction that began in March 2008 and the beginning of the next medium-term up trend of a secular bull market that started in 2001.

Source: www.decisionpoint.com

The minimum price target of this huge consolidation pattern is $1,300. And I believe much larger gains are certainly possible.

Also consider this: Four weeks ago the Hulbert Gold Newsletter Sentiment Index (HGNSI) stood at 25.2 percent. Now, four weeks later and gold nearly $100 higher, the HGNSI has actually fallen to as low as 18 percent! A rising market accompanied by a declining number of bulls is a rare development. And it’s clearly bullish.

Longer Term Fundamentals
For Gold Are Very Bullish, Too

There are many fundamental reasons to own gold.

Besides the technical buying signals I’ve given you today, I want to repeat the major fundamental arguments for owning gold:

• As a consequence of the current financial and economic crisis, government debt is going through the roof — not just in the U.S., but all over the world.
  
   
• Worldwide central banks are printing money like there is no tomorrow.
  
   
• Gold demand is rising due to wealth creation in emerging economies where gold still plays a large role as a store of value.
  
   
• Gold demand is even rising in the West as more investors doubt the wisdom of central banks and governments.
  
   
• Gold supply is stagnating or even slightly shrinking — despite the metal’s price rise since 2001. This is because it’s getting ever more difficult and expensive to get gold out of the earth.
  
   
• Finally, central bankers who were eager to sell government gold at much lower prices a few years ago, are getting increasingly reluctant to keep doing so. Emerging market central banks are even buying.

As long as most of these catalysts for higher gold prices remain in place, I expect the long-term bull market to continue. And much higher highs are very likely.

 

hahaha, yeah, got to monitor its trend , unless it hits 1,050 tonight,if not, it might be sliding down tomorrow. 

richtan      ( Date: 08-Oct-2009 16:45) Posted: I really dun know, as the mkt conditions is dynamic n in a flux, changing daily, just have to be on the alert n keep tab on the trend daily. niuyear      ( Date: 08-Oct-2009 16:14) Posted: I will hold for a while and monitor.  Whats your view on 1650 in zr 2011?  tks

 

I really dun know, as the mkt conditions is dynamic n in a flux, changing daily, just have to be on the alert n keep tab on the trend daily.

niuyear      ( Date: 08-Oct-2009 16:14) Posted: I will hold for a while and monitor.  Whats your view on 1650 in zr 2011?  tks richtan      ( Date: 08-Oct-2009 12:21) Posted: Gold expert said 1650 in 2011. Gold May Reach $1,650 in 2011, James Sinclair Says Oct. 7 (Bloomberg) -- Gold may climb to $1,650 an ounce by early 2011 on demand for an alternative to holding dollars and other currencies, said James Sinclair, a commodity investor and the head of Tanzanian Royalty Exploration Corp. “The carry trade has dropped the dollar as a currency of choice,” Sinclair, the chief executive officer of Surrey, British Columbia-based Tanzanian Royalty, said today in a Bloomberg Radio interview. “Gold is competition to currencies.” Today, gold futures touched $1,049.70 in New York, reaching a record for a second straight day. The spot price is heading for the ninth annual gain as demand rises for a hedge against inflation and the dollar heads toward a loss for the year. Some investors are buying the metal on concern that ballooning U.S. government debt will drive the dollar lower. There is an “extreme amount of liquidity that has been injected in the financial system, not just in the U.S., but around the globe,” Sinclair said. The dollar has been undermined by major trading partners suggesting an alternative to the greenback and by China’s attempts to “internationalize” its currency by issuing more debt, Sinclair said. President Barack Obama has increased marketable U.S. debt to an unprecedented $7.1 trillion as the government borrows to revive growth. Goldman Sachs Group Inc. has predicted that the U.S. will sell about $2.9 trillion of debt in the two years through next September. Metal Properties Tanzanian Royalty says on its Web site that it explores for gold and owns property in Tanzania, more than half of which was the subject of development agreements with other companies, including Barrick Gold Corp., in April. Sinclair and his family became Tanzanian Royalty’s biggest shareholders in April 2002, according to a statement from the predecessor companies. The shares declined 1 cent, or 0.3 percent, to C$3.127 on the Toronto Stock Exchange. The stock is down 40 percent this year. Sinclair ran his own trading company in the 1970s and achieved renown in 1980 by selling 900,000 ounces of gold at an average price of $810 as the metal was capping a decade-long rally, the New York Times reported in 2006. Gold futures for December delivery rose $4.90, or 0.5 percent, to $1,044.60 on the Comex division of the New York Mercantile Exchange. Before today, the metal gained 18 percent this year, while the dollar dropped 6.1 percent against a basket of six major currencies. To contact the reporters on this story: Halia Pavliva in New York at hpavliva@bloomberg.net; Thomas R. Keene in New York at tkeene@bloomberg.net

 

I will hold for a while and monitor.  Whats your view on 1650 in zr 2011?  tks

richtan      ( Date: 08-Oct-2009 12:21) Posted: Gold expert said 1650 in 2011. Gold May Reach $1,650 in 2011, James Sinclair Says Oct. 7 (Bloomberg) -- Gold may climb to $1,650 an ounce by early 2011 on demand for an alternative to holding dollars and other currencies, said James Sinclair, a commodity investor and the head of Tanzanian Royalty Exploration Corp. “The carry trade has dropped the dollar as a currency of choice,” Sinclair, the chief executive officer of Surrey, British Columbia-based Tanzanian Royalty, said today in a Bloomberg Radio interview. “Gold is competition to currencies.” Today, gold futures touched $1,049.70 in New York, reaching a record for a second straight day. The spot price is heading for the ninth annual gain as demand rises for a hedge against inflation and the dollar heads toward a loss for the year. Some investors are buying the metal on concern that ballooning U.S. government debt will drive the dollar lower. There is an “extreme amount of liquidity that has been injected in the financial system, not just in the U.S., but around the globe,” Sinclair said. The dollar has been undermined by major trading partners suggesting an alternative to the greenback and by China’s attempts to “internationalize” its currency by issuing more debt, Sinclair said. President Barack Obama has increased marketable U.S. debt to an unprecedented $7.1 trillion as the government borrows to revive growth. Goldman Sachs Group Inc. has predicted that the U.S. will sell about $2.9 trillion of debt in the two years through next September. Metal Properties Tanzanian Royalty says on its Web site that it explores for gold and owns property in Tanzania, more than half of which was the subject of development agreements with other companies, including Barrick Gold Corp., in April. Sinclair and his family became Tanzanian Royalty’s biggest shareholders in April 2002, according to a statement from the predecessor companies. The shares declined 1 cent, or 0.3 percent, to C$3.127 on the Toronto Stock Exchange. The stock is down 40 percent this year. Sinclair ran his own trading company in the 1970s and achieved renown in 1980 by selling 900,000 ounces of gold at an average price of $810 as the metal was capping a decade-long rally, the New York Times reported in 2006. Gold futures for December delivery rose $4.90, or 0.5 percent, to $1,044.60 on the Comex division of the New York Mercantile Exchange. Before today, the metal gained 18 percent this year, while the dollar dropped 6.1 percent against a basket of six major currencies. To contact the reporters on this story: Halia Pavliva in New York at hpavliva@bloomberg.net; Thomas R. Keene in New York at tkeene@bloomberg.net