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Gold going up this year?

If you come to this website kitco.com....they are all gold bug..they suggest holdig physical...

buying physical is right if a real economic upheaval really come about...bit that is not me..i dsont thk so..Do you thk an economic upheaval possible?

i suggest you buy silver...silver is up 29.85% this year compare to gold which is only 6.56%..

i suggest u just buy a silver saving account with UOB bank...and if u really interested to venture more risk for more gain than siilver stock is the way to go...but stock is more risky if you have no knowledge....so you must really and diligent do your homework...2 stock which i have full confident are PAAS and SSRI..

why not gold u ask???..well u know gold and silver rally together..and to be honest,,,silver is forcast by most expert to outperform gold over the next few year...so my all bet is on silver for more profit..

Michael Maloney an expert in PM..u read him in Share investment...he said he put 90% on silver and 10 % on gold...

since we are in the investment stage and have yet to reach maniac stage...i suggest u do DCA..and of course..u must really put in effort to read more ..do more home work for your benefit..

for me currently i am 80% on silver 20% on gold..vested since 2001 both stock and physical..

lawcheemeng      ( Date: 13-Jun-2009 07:53) Posted: gd morning chong wee have read most of your post. need some advice here, which is the better way to in vest in gold and silver? those that can be done local.? cheongwee      ( Date: 09-Jun-2009 17:05) Posted: Northwestern Mutual Life Insurance Co., the third-largest U.S. life insurer by 2008 sales, has bought gold for the first time the company’s 152-year history to hedge against further asset declines. Northwestern Mutual has accumulated about $400 million in gold, and CEO Edward Zore said the price could double or even rise fivefold if the economy continues to weaken. “The downside risk is limited, but the upside is large,” Zore said. June 1 (Bloomberg)

 

Sorry to interupt... one should play gold/silver just like any other instrument, commodity or currrency...

ie. Go by the technicals which is really powered by the fundamentals; don't waste time on long long stories...


Thus, by itself, the chart 'tells the whole story'...

 

gd morning chong wee have read most of your post. need some advice here, which is the better way to in vest in gold and silver? those that can be done local.?

cheongwee      ( Date: 09-Jun-2009 17:05) Posted: Northwestern Mutual Life Insurance Co., the third-largest U.S. life insurer by 2008 sales, has bought gold for the first time the company’s 152-year history to hedge against further asset declines. Northwestern Mutual has accumulated about $400 million in gold, and CEO Edward Zore said the price could double or even rise fivefold if the economy continues to weaken. “The downside risk is limited, but the upside is large,” Zore said. June 1 (Bloomberg)

 

see how long can the dollar go up?..

 

Heck...Japan refuse to buy,,China takover..2 yrs ago..nw the minsiter is toking rubbish..

Gold Drops the Most in a Week After U.S. Dollar Strengthens





By Nicholas Larkin

June 12 (Bloomberg) -- Gold declined the most in a week in New York and London as a stronger dollar reduced demand for the metal as an alternative investment. Other precious metals slid.

The U.S. Dollar Index, a six-currency gauge of the currency’s value, rose as much as 1.2 percent after Japanese Finance Minister Kaoru Yosano said his nation’s confidence in U.S. debt is “unshakable” and that the dollar’s global status is safe. Gold typically moves inversely to the U.S. currency.

“The dollar is going to put a little bit of pressure on gold,” Bernard Sin, the head of currency and metals trading at Swiss refiner MKS Finance SA, said by phone from Geneva. “The dollar may rebound in the short term, but longer term it’s going to continue to weaken.”

Gold futures for August delivery slipped $20.20, or 2.1 percent, to $941.80 an ounce on the New York Mercantile Exchange’s Comex division at 8:30 a.m. local time. Bullion for immediate delivery in London lost $13.58, or 1.4 percent, to $940.37 an ounce.

The metal rose to $950 in the morning “fixing” in London, used by some mining companies to sell production, from $947.50 at yesterday’s afternoon fixing. Spot prices, down 1.5 percent this week, are heading for a second weekly decline in London.

“It’s getting increasingly tough to hold on to its gains beyond $965-966 levels,” Pradeep Unni, an analyst at Richcomm Global Services in Dubai, said in a note. “Repeated failures to break and hold above this zone has triggered sell offs.”

Bullion may average $825 an ounce next year, compared with a previous forecast of $950, BNP Paribas said in a report dated yesterday. The bank raised its 2009 estimate to $925, from $900.

‘Biggest Risk’

“We believe that deflation rather than inflation is the biggest risk facing the global economy in the coming months,” London-based analyst Anne-Laure Tremblay said in the report. Still, “safe-haven demand should remain strong throughout this period as the road to recovery should be long and bumpy.”

Investment in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, was unchanged for a fourth day at 1,132.15 metric tons yesterday, the company’s Web site showed.

Silver for July delivery in New York slid 4.5 percent to $14.80 an ounce in New York. Platinum for July lost 2.1 percent to $1,246.40 an ounce, and palladium for September was 1 percent lower at $253.60 an ounce.

Silver held in ETF Securities Ltd.’s exchange-traded commodities rose to a record 20.223 million ounces yesterday, from 20.194 million ounces the day before, according to data on the company’s Web site. Palladium assets advanced to an all-time high 309,420 ounces, from 308,420 ounces.

To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net

Last Updated: June 12, 2009 09:02 EDT

 

now gold sink, dollar soar,,???..confusing,,suppose bond issue still a problem...maybe Fed buy more bond themselves..

 

Hope we walk in the field of gold,,soon...

 http://www.youtube.com/watch?v=L3YVil3Ajjs

niuyear      ( Date: 12-Jun-2009 12:13) Posted: Hi Cheongwee You able to give your view on : The movement of gold is it tide in with the surge of oil?  If oil drops, will gold drop too?  Tks

 

Hi Cheongwee

You able to give your view on : The movement of gold is it tide in with the surge of oil?  If oil drops, will gold drop too?  Tks

 

thing change fast, with the bond issue...the dollar is going to get whack down, that means gold will soar...so my prediction  for summer correction is void as far as the bond issue is on...

 

Nw, i even doubt my sifu, gold looking strong,..he said 935...and then say maybe can go higher but will never cross 1000 and correct into summmer to 760 and 800.... now i have a second thinking.. just like the Dow...this year got no "sell in may and go away"..so i thk gold may be also doing the same... actually, i was looking to buy, not sell...so just DCA..gd luck.

 

Northwestern Mutual Life Insurance Co., the third-largest U.S. life insurer by 2008 sales, has bought gold for the first time the company’s 152-year history to hedge against further asset declines.

Northwestern Mutual has accumulated about $400 million in gold, and CEO Edward Zore said the price could double or even rise fivefold if the economy continues to weaken.

“The downside risk is limited, but the upside is large,” Zore said.

June 1 (Bloomberg)

 

Gold will reach US$1,000 very very soon..

print more money US! that's the way to make gold inflate!

 

hello, it will continue to drop more? anyway when u say buy gold, u mean physical gold? thanks

 

so gold drop like i predict it will...now did any guy bought at 98X...

dont worry just keep it...remember to buy more at 760 to 800..i thk at 850 can start to buy..

gold will cheong in OCT 09...this time it is for real..no looking back anymore...1000 abv for a long time.

 

HI Cheongwee,

I like the 1st para of your post because, some of those i know (who used to own US stocks), fell victim to the '1st para'.  They thought they could keep those techno stocks(think bought in 1980s)  for 15 or 20 years not knowing the techno bubble's effect in 1990s.   The stocks plunged from US$90 (estimate) to below $5.  Ironically, they owned shares, but, never opened any trading stock a/c.   Now, their stocks are like rotting away and most of them, still haven't opened any trading a/c to sell off those 'rotten stock's'.

 

Either Stocks Will Fall 37% Or Gold Will Rally 60%

By Graham Summers       Jun 1 2009 3:47PM www.gainspainscapital.com

How’s this for a bubble?

In 1965 one in ten Americans owned stocks. In 1990, one in five Americans owned stocks. Put another way, it took 25 years for stock ownership to double in the US. And most of that growth came between 1983 and 1990 with the introduction of 401(k)s, IRAs and other stock-based retirement plans: suddenly anyone with a large scale employer could invest in stocks without having to open a brokerage account.

Thanks to the Internet and low fee online brokerage accounts, it only took seven more years for stock ownership to double AGAIN. Put another way, the rate at which new participants entered the stock market accelerated four fold between 1990 and 1999. By the end of the 20th century, 48% of US households owned stocks.

This is the one bubble no one talks about.

I’m talking about the bubble in “investing in stocks.” Never before have so many Americans done this. It gave us one of the biggest bull markets in stock history: a mega-18 years run from 1982 to 2000. But it also means that stocks have got a long ways to fall to get back in line with their historic relationships to other asset classes.

Particularly gold.

A lot of commentators talk about how gold is near an all-time high and that stocks have fallen 50%, making them cheap again. However from a long-term perspective, gold and stocks are nowhere near their normal relationship.

According to Dr Marc Faber, editor of the Gloom Boom Doom Report, gold and stocks move in distinctive long-term trends. Over the last 110 years, these trends has staged six major phases:

• 1900-1929: stocks outperform gold
• 1929-1932: gold outperforms stocks
• 1932-1966: stocks outperform gold
• 1966-1980: gold outperforms stocks
• 1980-2000: stocks outperform gold
• 2000-???: gold outperforms stocks

Overall, the median stock to gold ratio for the last 106 years is 5.4. In other words, throughout the 20th century, on average 5.4 ounces of gold would buy one unit of the DJIA.

Today, gold trades at $980. The DJIA trades at 8,500. This puts the ratio of gold to stocks at 8.6. Thus, the DJIA needs to fall to 5,292 (a 37% drop from today’s level), gold needs to rally to $1,574 (a 60% rally from today’s level), or some combination of the two, in order for gold to be appropriately priced relative to stocks again.

When exactly this will happen is anyone’s guess. The gold vs. stocks trends over the last 106 years have ranged in length from three years to 29 years. However, judging from the Fed’s money printing and the recent action in gold, it’s quite possible we’ll see a mammoth run in the precious metal sometime in the next 18 months.

During the last bull market in gold, the precious metal rose 2,329% from a low of $35 in 1970 to a high of $850 in 1980. However, during that time, there was a period of 18 months in which gold fell nearly 50%.

From mid-1971 to December 1974, gold rose 471%. It then fell 50%, from December ’74 to August ’76. After that, it began its next leg up, exploding 750% higher from August ’76 to January 1980.

Now, in its current bull market (2001 to March 2008), gold rose over 300% from $250 to a little over $1,000. And just like in the mid-70s, it began showing signs of weakness after its first big rally up to $1,014 in March ’08. At one point, it even fell to $700, a 30% retraction. Granted, it wasn’t a full 50% retraction like the one that occurred from 1974-76. But we are experiencing a financial crisis. And gold is the most common catastrophe insurance.

If we were to go by the historic pattern of the gold market in the ‘70s, gold should experience upwards resistance for 19 months after its first peak today. Gold’s recent peak was $1,014 in March ’08 (roughly 14 months before the writing of this report). If this bull market parallels the last one, then gold should renew its upward momentum in a very serious way starting in October 2009. And this next leg up should be a major one (the biggest gains came during the second rally in gold’s bull market in the ‘70s).

In fact, it’s already happening…

According to Capital Gold, a precious metals dealer, the demand for gold from self-directed IRAs has more than doubled since January 1, 2009. The World Gold Council notices similar spikes in demand for the gold ETF, writing “Inflows into gold ETFs continued to grow throughout the quarter, with investors buying a record 469 tonnes of gold, dwarfing the previous quarterly record of 145 tonnes, set in the third quarter of last year.”

Globally, entire gold markets that didn’t exist in 1980 are now beginning to buy the precious metal. Vietnam started trading gold futures in June 2007. Already the exchange trades around $100 million in gold futures a day. China’s Shanghai Futures Index started trading gold futures just a few months ago. The latter country has already surpassed the U.S. as the second largest consumer of gold behind India.

Prepare in advance.

Bottomline: don’t let the talking heads fool you. Stocks are not cheap, especially compared to gold. And the bull market is gold is nowhere near over. Over the last 35 years, more Americans began investing than at ANY other period in history. As collapse later this year, they’ll either pull out their money pushing the DJIA lower OR they’ll shift their money into alternate investment classes like gold. When they do, the DJIA will fall further and gold will erupt higher.

Good Investing,

Graham Summers

 

 

gold is playing trick...be patient..when it shoot for 1000 and stay there u chase..u will still see your money, maybe later, but why buy 1000, when u can buy 800??...be pateint...DYODD

 

i thk tonite gold may set up a bull trp..for 1000,,,and this time it may stay awhile at 1000...before it correct to 780 to 800..

 

UOB silver is as close to physically holding silver as you can get...

But storages fees has to be paid too...

Why not trade the volatility instead by opening a leveraged spot silver/gold trading account just (like fx)?...

 

hi theresa and pipiii......read this...gold and silver are meant to be saved for that mania stage...we have yet reach there...we are in the investment stage..

http://www.321gold.com/editorials/russell/russell060109.html