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Gold price hit US$900!
USD $ appreciating from 1.3+ to 1.5
double happiness for ETF gold investors.. :):)
more to come with the world printing more $$.. gold investors rejoice!.. US$1,500 will definitely be a reality..
all have been answered by yrself.
YES
10 shares and in US$
Hi all, if anyone expert here cld cfm tis:
how to place the order for this? Is it 10 share minimum? if share price is say US$70. this means 10 x US$70= US$700.00. Is this traded in US$ or S$? Thank you for your help.
Happy new year to all!
Gold prices keep rising as stocks collapse
06:50
Xinhua Newsfeed
06:50
Xinhua Newsfeed
| NEW YORK (AP) - Gold prices shot up in aftermarket trading Thursday after stocks plunged again, sending investors scrambling for safe places to put their money. Silver also rose. Gold for December delivery jumped $32.30 to $918.80 in electronic trading on the New York Mercantile Exchange, after earlier closing $20 lower at $886.50. Investors bought up gold, a traditional safe-haven asset, after fears of a deepening financial crisis sent U.S. stocks tumbling in a late-session swoon. The Dow Jones industrial average fell 679 points. Gold has been on the upswing in recent days as panic ripples through world markets, touching off a desperate search for safe-alternative investments. The precious metal is an attractive investment in times of crisis because it's known for holding its value. Silver prices also jumped, with the December contract adding 30.5 cents at $12.18 an ounce, after earlier settling 10.3 cents higher at $11.875. December copper rose 5.1 cents to settle at $2.406 a pound. In energy markets, crude oil closed at its lowest level in a year as falling demand for energy outweighed news that the Organization of Petroleum Exporting Countries will hold an emergency meeting to discuss oil's downward slide. Light, sweet crude for November Delivery fell $1.81 to settle at $86.62 a barrel on the New York Mercantile Exchange, the lowest closing price since Oct. 15, 2007. In aftermarket trading, prices edged below $85, a key technical level that traders say could signal another plunge. In other Nymex trading, heating oil futures fell 7.59 cents to settle at $2.4186 a gallon, while gasoline futures fell less than half a penny to $2.0273 a gallon. In agriculture markets, grain prices traded mixed on the Chicago Board of Trade. Wheat for December delivery fell 3.25 cents to settle at $6.0475 a bushel, while December corn rose 10.75 cents to settle at $4.3825 a bushel. November soybeans rose 16 cents to settle at $9.80 a bushel. |
gold jumped again as investors dumped stocks and moved to safe havens like gold..
GOLD GOLD GOLD!.. have u accumulated yet?
I was out few days ago thinking that equity will rally and ppl will shift gold to equity. Anyway, profit of 6.2%. Not bad but if held on, see higher profits. It is ok. My first gld investment after reading Elfin posts. I'm beginning to like Gld. Not so volatile but must be careful because people will shift commodity to equity later on and there will be a big swing once market rallies. (Market must rally, history has proven this before). Even Warren Buffet said there is nothing to be frightened of .. LOL.
ozone2002 ( Date: 30-Sep-2008 09:01) Posted:
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another nice jump for gold again... :)
anyone with me on this?
another jump for gold..cos of the stopid dumb US bailout plan..
USD is gonna get diluted becos of this crap the Fed is coming out with..
this is good for GOLD..accumulate!!
what a jump for gold last nite..
now its finally showing its true worth in turmoil..
when pple start to focus in on this n realise...it would b time for the true blue gold investor to take some profit..cos when the herd comes..there's only one outcome..a big fall after the big rise ;p
that's how u play the game..
Agree with you. Jim Rogers has mentioned before. Avoid US dollar. Go for china. He is in Spore, so perhaps spore will not do too badly either.
should put some to gold as hedge. However, if equity rallies next yr or so, then gld might come down. Might take a while for the market to stabilise. Maybe end of 2009 or 2010. My opinion.
ozone2002 ( Date: 15-Sep-2008 22:26) Posted:
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yup elf..pure manipulation in gold..
while these assholes want to give the impression that all the commodities n safe haven's like gold, silver precious metals are collapsing so that you can put ur money into bonds with lousy interest rates..
they themselves are collecting the gold,silver etc that you r disposing and waiting for more financial shit to surface so that gold will shine in its true glory once they can pen another good reason for anything...
Currencies are crap..especially USD..don't believe the recent rally .. its all manipulation..with the state america is in..n with the debts that they are generating with the bail-outs..how far do u think the amercian dollar can GO???????????
they played punk on gold the last week. )(@*#&@ goldman sachs shocked down the market saying "A fundamental shift in gold has occurred", but instead, they bought it up. No wonder the dip in px yet the large accumulations. 
(ref to my post below 15 aug)
(ref to my post below 15 aug)waiting for this moment..
gold up, USD down, oil shoot up 5%!..perfecto!
it's just very odd. the buys are outweighing the sells every single day since mon, but the px is being driven down.
either they're shocking it down to accumulate, or someone's unwinding positions.
in light of macros tho, the bet is still on gold. (esp if they start issuing reports that gold is headed down.
)
Gold correction is due to a bounce in the USD. But I foresee the USD's bounce shortlived..
SO BUY GOLD USD! Gold is real money indicator! All currencies are backed by gold.
Personal opinion...to make it into fruition is at your own judgement..
update on the counter:
relax and go slow. cos 78.5 may trigger some automated sells. tech support is 65 if we were to be realistic.
one thing doesn't make sense though: px has been dropping but all the way, it's large buys this week.
new entrant to this counter: ML. (usual players Citi and MS).
So there's three foreigners (mainly) controlling this counter now.
If you look at market depth, the block consecutive lots of 2k-7k lots on both buy and sell queues belong to the BBs (my guess is automated). that's how they control the px of gold. 18-22k lots on both buy and sell queues on average each day. ie, they use ~USD$3mil to control this counter every day.
quirky tip/fun fact of the day: Citi and MS (actually, ML too) are very pantang. If you queue at a px ending with an 8, you're likely to get it. eg, 78.38, 81.08 etcetc.
The one px they can't resist is 88.88.
fyi only.
Sigh...one moment was happiness, went up $81...now have to pour in more $$ to avg down. Jeep some just now 78.3+...finger cross no more correction...hehehe!!! I have learnt my lesson already, never never jeep large block but bit by bit...so volatile one!
gold correcting again..good for some accumulation in bits again.. collect on dips ..sell on big rallies :)
let me congratulate u early... ya going to be a rich man..
its all abt capital preservation n acceleration if u know how to do it :)
stagflation,inflation... gold will outperform in such scenarios!
idesa168 ( Date: 12-Aug-2008 10:09) Posted:
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Fiscal meltdown
The cold years of disinflation are over; now we're facing a decade of
inflationary fire
Andy Xie
Updated on Aug 12, 2008
If you hope inflation will disappear soon, I have bad news: it may pose a
problem for the next decade. The two-decades-long ice age of disinflation
is over. The decade of inflationary fire awaits us. During the ice age,
businesses, households and governments added layers of debt to stay warm.
They should shed the fat as quickly as possible, or they may become
extinct.
Globalisation brought on the ice age. The fall of the Berlin Wall triggered
a general collapse of the former socialist economies. The resulting
collapse in demand caused energy prices to stay low, and they embraced an
export strategy to rebuild their economies, which sent the price of
manufactured goods on a two-decades-long descent. These forces pushed
inflation down across the world. Central banks took the credit, and printed
money generously to celebrate. This led to one asset bubble after another.
The ice has been melting. After years of export growth, the former
socialist states have rebuilt their economies and have been consuming.
Inflation showed up first in the commodity markets. Competition for money
popped the debt bubble that kept property prices so high in so many cities.
The deflating property-cum-credit bubble redistributes money to where it
can cause inflation, such as oil and food.
Instead of taming inflation, central banks are printing more money to save
teetering financial institutions; they are adding fuel to the fire. After
two decades of contained inflation, today's central bankers are not
psychologically prepared to accept a deep recession to stop inflation.
Instead, they are looking for excuses to justify their money printing.
Further, globalisation has made inflation global and difficult to fight.
The supply-and-demand balances of labour and natural resources are global
in nature. Their prices reflect global monetary growth. Any economy that
tightens money supply cuts its demand for such global factors; its negative
effect on growth is all felt at home, but the dampening impact on inflation
spreads across the world, benefiting everyone else. The misalignment of
incentives for inflation-fighting creates disincentives. This is why almost
everyone, including the US, complains that their inflation is "imported".
But the world as a whole cannot import inflation from someone else.
Another excuse for inaction is that inflation exists only in isolated
pockets, such as oil and food prices. But, money flows to where it can
inflate. In the first stage of an inflation cycle, food and energy inflate
first, as their demand and supply are relatively inelastic in the short
term. Further, their price rise attracts speculation, which accelerates the
transmission from money-printing to inflation. In the second phase, the
prices of products and services rise. Finally, wages rise as workers demand
compensation for their deteriorating living standards.
Most analysts argue that the final stage will never happen, because labour
unions are no longer strong. But, union power is probably demand- rather
than supply-driven. As economies boomed and inflation stayed low, workers
didn't need unions. As inflation squeezes their living standards, they can
organise quickly, to pressure their employers for wage rises.
To stop a slide into a decade of rampant inflation, the world needs
co-ordination to tighten simultaneously, which would spread the pain evenly
among all economies. The US' need to bail out its financial system makes
such co-ordination impossible.
Further, the US financial system may be bankrupt as a whole. America's
financial sector has US$15 trillion of debt for warehousing assets. If the
assets depreciate by 10 per cent, a likely outcome, the equity base of the
US financial sector would be wiped clean. The right way to address this
problem is for the government to nationalise failing financial
institutions, recapitalise or liquidate, and then privatise again. That is
what Asian countries did during the financial crisis 10 years ago.
The US is trying to leverage the dollar's global status for the easy way
out. When foreigners want their money back, the Federal Reserve pulls out a
few more printers and asks you to line up.
The money printing by the US limits how much other countries can tighten.
The prices of commodities will continue to rise with a rising US dollar
supply. Other economies can limit the price increase by curtailing their
demand. But it just gives the US more room to print money. Other economies
just don't have enough incentives to tighten.
In the decade of fire ahead, you must make a few adjustments to survive.
First, shed debts. During the ice age, easy liquidity made debt rollover
easy. Central banks will have to raise rates as inflation rises, even
though they won't raise them quickly enough to stop inflation. An
environment of rising interest rates makes debt rollover difficult.
Further, stagflation depresses asset valuations. It is not a winning
strategy to hold assets with debt financing.
Second, despite the recent roller-coaster ride, precious metals remain the
best vehicles for value preservation. Like any bull market, entry is best
after a big pullback; buy low, sell high. But, if you are swayed by expert
opinions, you end up buying high and selling low. Resist selling after a
big pullback.
Third, like precious metals, commodities, especially energy, remain in a
bull market. However, their volatility is even bigger than that for
precious metals. It is not for the weak-hearted. But, one could step back
and choose companies that profit from the commodity boom. For example, oil
service companies have stable and rising income despite the massive
volatility of oil prices.
Shed fat, pump iron and wear a swimsuit. That way, you'll survive the fire.