Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

An Aussie Quickie

By

PrintPRINT

Gold 399.50 Silver 6.11 3pm Feb 3rd

Just a quickie today, sorry.


"If it goes to $360 and then to $3000 an ounce, what do you care? In a system where central banks can print an infinite amount of money, the one currency that doesn't rise as fast as paper money will appreciate in the long run" ... Marc Faber in Barons Round Table.

Gold Grief

Gold again traded in narrow range today where we saw solid support in Asia and Europe with gold some $2-3 higher than NY close, but again the knives came out in NY.

India is still importing gold at a great rate, especially with Rupee at new highs. TOCOM in Japan has seen good public purchasing of gold in recent days on the fall below $400. Shanghai also has been active with premiums as high as seen since opening a few months back. Little people are buying real metal. The recent Bloomberg article on Indian gold imports falling, reference December numbers with gold at $410 and the rupee some 5% lower. Of course imports were lower. That why the premiums went bonkers. It just took India a little time to get used to the price. Same as the initial run up in Jan 2003 to 390...India's imports slowed to a trickle at $350....

I see the HUI got a wriggle on late in the day yesterday and closed reasonably strongly (for a market that's supposed to be on its death bed).Today has been a quiet one in the equities. Have a look at some of the ranges of some of the better metals companies around. Some are seeing 10-15% daily ranges. Great stuff if you can get 'em.


Planet Silver

Will be an interesting time going into the March delivery. So much physical demand in the world versus so many short sales in the paper silver world. Maybe we will test lower again and wouldn't surprise to see a break down to $5.70 on a bear raid. Silver 200DMA is $5.20 which was strong resistance on the topside on the way up. In my opinion, physical demand must win out, sooner or later... it's just a matter of keeping in the game till then.

The Euro is at 1.2540 and gold is sub $400... did we get too far ahead of ourselves in the last few months, or are we being shown a lifetime bargain??



Laurie.


< Previous
  • 1
Next >
position in euro, gold, silver

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE