Filed under: Major Movement , Competitive Strategy , Barrick Gold (ABX) , Commodities , Federal Reserve Back in the late 1970s, the Hunt brothers from Texas tried to corner the silver market . That drove prices to $48 an ounce. Now, 31 years later, silver is shooting higher again. The March silver futures contract closed at $32.296 per ounce , up 72 cents. Since gold is expensive, investors are turning to silver to hedge against inflation. Many fear that the Federal Reserve will not be able to control the spike in commodity prices. The Fed is buying $600 billion of treasuries and keeping interest rates near zero. Continue reading Silver Near a 31-Year High Silver Near a 31-Year High originally appeared on BloggingStocks on Sat, 19 Feb 2011 12:50:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments
Economic Fears
Gold Prices Ready to Rebound?
Gold has taken a little bit of a hit this week, as investors ignored the bad economic news and latched onto the good. That’s highly unlikely to continue for long, as the weakness in the global and U.S. economy isn’t going to improve any time soon, and mounting evidence confirms we’re in for a continuing recession. Gold prices will respond accordingly and continue their upward push to who knows
Bonds Up, Stocks Down on Renewed Economic Fears
Filed under: Market Matters , Economic Data , Federal Reserve , Currency A new fear gripped the market Friday. Originally, gross domestic product — the broadest measure of economic activity — was reported to have grown 2.4% in the second quarter. Now, many are expecting the Department of Commerce will revise this figure down next week. According to a Bloomberg survey , revised GDP will have lost one point to a more anemic 1.4% growth. The expectation of the lower GDP caused an accelerated rush to buy Treasuries. On the futures market , the 30 year bond was up 15 ticks to 134-26 . The Dow Jones Industrial average continued its decline, falling yet another 90 points in early morning trade. Continue reading Bonds Up, Stocks Down on Renewed Economic Fears Bonds Up, Stocks Down on Renewed Economic Fears originally appeared on BloggingStocks on Fri, 20 Aug 2010 10:30:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments
NovaGold (AMEX:NG), IAMGOLD (NYSE:IAG), Ivanhoe (NYSE:IVN) Down As Gold Prices Fall
NovaGold Resources (AMEX:NG), IAMGOLD Corporation (NYSE:IAG) and Ivanhoe Mines Ltd. (NYSE:IVN) all fell Monday, as gold tested the $1,180 an ounce mark, ending at $1,183.10 an ounce on the Comex division of the New York Mercantile Exchange. With most economics seeming to be going against gold’s grain, the relatively slow decline in price reveals the uncertainty of the market, and even though
Iamgold (NYSE:IAG), Goldcorp (NYSE:GG), AngloGold (NYSE:AU) Up on Weak Economy
As we gradually sift through the economic data and news, confirmation we are far from any type of recovery continues to emerge, as the latest data in new housing starts confirm once government props are removed it falls apart. Gold companies like Iamgold (NYSE:IAG), Goldcorp (NYSE:GG) and AngloGold Ashanti (NYSE:AU) will continually be the beneficiaries of the weak economy, as gold prices resume
Freeport (NYSE:FCX) Earnings Report Should Reveal Economic Conditions
Although many were looking for Alcoa (NYSE:AA) to give some guidance as to economic conditions, Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) will probably be a more accurate measure, although combined with Alcoa’s numbers, could give a snapshot of where the economy really is at, against the numerous assertions and conflicting reports out there. Tomorrow morning Freeport gives its earnings
Liberty Media’s John Malone Clueless on Gold
Liberty Media Corp.’s Chairman John Malone was talking about his investment strategy recently, and said the strange statement concerning gold and why he wasn’t investing in it. Malone said this, βIβm not a gold bug. Thereβs just something about gold that seems artificial to me.β Both assertions show his ignorance. First of all, being a gold bug has absolutely nothing to do with investing in
Gold Prices Today Finish Highest in Four Days
Even though the pressure was on for gold throughout the last week, gold prices today finished at their highest level in four days, and didn’t move much below or above the $1,200 an ounce mark.Gold futures for August delivery on the COMEX increased by $13.70 to end the week at $1,209.80 an ounce.So continued support at around $1,200 an ounce either way continues, and that’s a good sign going
Gold Futures Crushed as Investors Go to Treasurys
Investors today, who have been extremely fickle lately, have chosen to go to Treasurys as a place of safety rather than gold, driving the price of gold today down by $34.70, or $1,207.70 an ounce, as of 1:03 PM EDT.Economic data has painted a ominous portrait of economic conditions, and it’s weighing strongly on investors. Uncertainty about inflationary or deflationary pressures also influences
Gold Prices Soar to Record High Close
Gold prices reached a record high close on Thursday, as continuing negative economic data show we are far from being out of the recession, even if people want to soon call it a double-dip recession, as if there was ever a recovery any of us have experienced. Most of the economic data put forth as evidence of recovery has come from government gimmicks like “cash for clunkers” and tax rebates, as
Gold Explodes Again on Weak Economic News
The attempt to paint a rosy economic picture is being ignored or not believed by investors, and gold prices are again exploding upward as it’s considered the safest place to put your money in these difficult times. At just before 1:30 PM EDT, spot gold prices were at $1,247 an ounce, a gain of $16.50 for the day. People are starting to see that every time new, negative or weak economic data
