gold-bullion

Goldman (NYSE:GS) Issues Gold-Linked Structured Notes

Goldman Sachs (NYSE:GS) issued $66.5 million in structured notes linked to gold, as prices continue to break all-time records and solid support continuing for the precious metal.There is no interest on the notes, as investors receive profits at maturity, with a price cap of 17 percent. The securities, which were sold on October 1, are for one year. JPMorgan Chase (NYSE:JPM) is the distributor for

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Poor GDP Report Pushes Gold Prices Up 1 Percent

While gold has been hobbling along throughout July, the lower than expected numbers of the GDP report caused it to surge in the last trading day of the month by 1.1 percent, reaching $1,183.90 an ounce on the COMEX division of the NYMEX for December delivery. Even so, it still finished July down 5 percent, falling $62.68. Spot gold price increased to $1,180.97, rising $12.20. This was the worst

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Weekly Gold Report

Volatility Reigns…. Week High….$1218.80 ……7/13 Week Low…..$1185.80……7/16 This week’s Gold market covered a very volatile $33.00 range as the summer dull-drums expose the lack of confidence from investors globally. This week has found Gold trading in a very technical range as lack of buying momentum has forced the bulls to take profits as the high price of Gold has cooled demand for physical Gold. There is still an insatiable demand for Gold world-wide but with the economic uncertainty savvier investors are looking for a price dip before re-entering the market. The gold market is waiting for some fundamental news to help guide traders seeking direction. The Jewelers of Indian will be looking to re-stock for Their upcoming Wedding and Festival season beginning in September. The jewelers of India have been very quite since May and the celebration of Akshaya Tritiya which is probably the most auspicious Hindu Holiday for the giving of Gold as gifts. The higher prices have pushed India’s investors into Gold ETF’s…..(up 76% in June) However since India is the world’s largest consumer of Gold I expect the jewelers of India will buy Gold for the upcoming season’s no matter the price. Obviously they are side-lined hoping for a price dip…. There has been a lot of noteworthy headlines this week…including 29,000 more Americans found jobs… The following are several more news worthy comments… Federal Reserve Chairman Ben Bernanke while delivering a speech was quoted as saying ” Small businesses are central to creating jobs in our economy” adding “they employ roughly one – half of all Americans and account for about 60% of gross job creation “…….. He then stated ” we have also been focused on strengthening the nation’s banks, so that they can resume normal lending as quickly as possible “… Creating jobs and helping small business is the road to economic recovery in my opinion…. It has certainly become evident that many investors

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Gold Continues To Glitter

This week the Gold has rallied to another all-time high as global investors continue to choose gold as their currency of choice. Savvy investors are seeking tangible assets for long term investment opportunities as they have lost faith and confidence in the fiat currencies. We have once again received mixed news and reports from the European Union that has left investors trying to decipher the content which appears to be as clear as mud. For instance Monday we reported that 18 of the 19 industries in the STOXX Europe 600 index rose as industrial production increased greater than analysts predicted in April. Later in Monday’s session we learned that Moody’s Investor Service downgraded Greece’s government bond ratings to junk status. On Tuesday it was reported that Moody’s further downgraded several Greek Banks as these actions rekindled the gold rally as physical bullion buying increased. We certainly now realized that the continuation of the Euro regions debt crisis was far from over… Wednesday was yet another day of bad news for the Euro region as rumors and denials were flying… A Spanish financial journal (El Economista) reported that Spain was involved in a secret meeting with The European Union and the IMF and the U.S Treasury seeking a credit line of 250 Billion Euro’s….All parties denied this happen… However we do know that the EU and the IMF are putting some type of aid package together for Spain… We also learned that European Central Bank Member Nout Wellnik stated “the Netherlands should take firm Measures as quickly as possible as their economic situation is quite serious.” This is the first I have learned of the crisis In the Netherlands…All of this news has been very Gold friendly…. The continued uncertainty has chased investors into safer havens and during times of crisis Gold and Silver usually retain value better than most commodities. Today the leaders from the European Union attempted to ease investors minds as they released information that showed how Banks perform on stress tests, and seeking to gain investor confidence in Euro regions financial system… German Chancellor Angela Merkel stated “what’s most important right now is that we have maximum transparency”….. Transparency would certainly be refreshing. Meanwhile as I write Gold has traded as high as $1252.80…ANOTHER ALL-TIME HIGH……. Jobless Claims In the week ending June 12, the advance figure for seasonally adjusted initial claims was 472,000, an increase of 12,000 from the previous week’s revised figure of 460,000. Obviously this needs to become priority # 1…We need to get people back working and spending again. The continuing global Geo-political tension has also helped the Gold markets latest rally as a warring environment is Normally “bullish” gold as investors tend to choose safer havens…. Feel Free To Email ME ! Mike Daly / Gold Specialist PFG BEST mdaly@pfgbest.com 877-294-4669 312-563-8029 312-775-3014 *THERE IS EXTREME RISK TRADING FUTURES, OPTIONS, and FOREX*

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Buying Gold » How to Buy Gold

You should buy gold bullion in one-ounce rounds. Almost all investors in gold – bullion coins purchase gold-bullions in one-ounce increments. You can buy gold stocks from mining companies, but be warned that the price of gold and that of …

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Global Uncertainty Fuels Gold Rally

So far this week Gold has covered a $64.80 range with a low of $1184.40 ( Monday 5/10) and a high of $1249.20 (Wednesday 5/12). This latest rally has been fueled by the uncertainty of the debt crisis rescue package implemented in the Euro Region. On Monday (5/10) we learned the European Union and the (IMF) International Monetary Fund agreed to a monumental 720 billion Euro aid package in a move to support the heavily indebted nations and to preserve their currency. This sent a vote of confidence to the region and sent the equity markets higher and temporarily halted the gold rally and actually sent it $9.60 lower for the session. However , since then many financial analysts , economists, and savvy investors have questioned the ability of those smaller Euro “debtor” nations to significantly cut deficits enough and more importantly repay the loans. The concern is also over the vast amount of Euro’s that will be printed in order to inject money into the economies of these needy nations. The consensus has decided the whenever you print more it becomes “WORTH LESS”…. This has brought out global fears of pending inflation and since gold and silver have a tendency to perform better than most commodities during inflationary times you can certainly understand the fuel behind this latest metals rally. It has clearly been a stampede to safer haven investments. The Euro region continues to fuel the run to Gold as well …

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SPDR Gold Trust (NYSEArca:GLD) Ton Record

The SPDR Gold Trust (NYSEArca:GLD) has the highest metric tons of gold assets held by the fund, as the ETF increased its metric tons by 19.78 to 1,185.79 tons, according to their Web site. This is the highest monthly increase since February 2009. SPDR, backed by gold bullion, is the sixth-largest holder of physical gold in the world. Range over the last year for SPDR have been from 88.82 –

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Gold Soars off European Debt Crisis

Thus far this week has provided plenty of fuel for higher Gold prices as the economic climate in the European Union continues to drive savvy investors out of the traditional “fiat currencies” and in to “safer havens “especially gold as it has a history of performing better than most commodities in times of crisis. It has been reported that the European states have increased their already vast amounts of gold reserves and the IMF (International Monetary Fund) reported it had sold 18.5 tons of Gold bullion in March. As of this writing the price of Gold has breached the $1200.00 per ounce level as the U.S Dollar continues to ride twelve month high’s ….yes indeed the inverse relationship appears to de-coupled… This European Union continues to put out contradictory information that is as clear as “mud”. European Central Bank Officials voted Thursday to keep the bank’s key lending rate at 1%. The Euro regions fiscal crisis is threatening the bank’s of Portugal, Spain, Italy, and the United Kingdom. Moody’s Investors Services was quoted as saying “Overall, moody’s notes that each of these countries banking systems faces different challenges of different magnitudes, but warns that contagion risk could dilute these differences and impose very real, common threats on all of them”… European Stocks sold-off for the third straight session sending the STAXX Europe 600 to a two month LOW on the continued concern of the Euro regions fiscal crisis will spread…. European Central Bank President Jean-Claude Trichet Is certainly not calming fears as he has resisted to take a solid stance to combat the Greek crisis. Trichet stated “The ECB didn’t discuss buying government debt today and that Spain and Portugal didn’t have the same challenges faced by Greece”…. Then stated “Greece will not default”….. Trichet also stated that loans to Greece were “appropriate” … The Greek’s took to the streets in protest for the second straight day in reaction to the stringent measures imposed on them in return for the joint financial bail-out package from the IMF and the European Union. This may actually work against the nation of Greece as tourism is a huge part of their economy and the violence will most certainly deter travelers. The number of Americans filing claims for Jobless benefits fell 7,000 to 444,000 in the week ending May 1st. This is the lowest level in a month….Since the recession began in December 2007 Americans have lost 8.4 million jobs. So we certainly have a long way to go! However, it is a step in the right direction and it does show the economy is heading

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American Gold Bullion ETFs 101

Filed in COMEX Gold Trust, Gold, Gold ETF, Gold Prices, gold-bullion by on April 25, 2010 0 Comments

The label “gold bug” may suggest a kooky old man who spends a lot of time in his basement reading conspiracy theory newsletters. The truth, however, is that there are many legitimate reasons to trade in gold and its derivatives. Gold has been proven time and time again to be an excellent “safe haven” investment, a holding that will appreciate in value during times of economic uncertainty. As such, gold may offer some valuable hedging and diversification benefits for a long-term portfolio. Words: 1002

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Gold Bulls Still Have Technical Power

Filed in economy, Gold, Gold Futures, Gold Prices, gold-bullion by on April 14, 2010 0 Comments
Gold Bulls Still Have Technical Power

June Comex gold futures bulls have recently gained fresh upside near-term technical momentum. Prices on Monday hit a fresh four-month high of $1,170.00 an ounce. Prices are also in a nine-week-old uptrend on the daily bar chart. For June gold, shorter-term technical resistance is seen at Wednesday’s high of $1,162.80, at this week’s high of $1,170.70 and then at $1,175.00. Major psychological resistance is located at the $1,200.00 level. Shorter-term technical support is located at Wednesday’s low of $1,151.00, at $1,146.60, at this week’s low of $1,145.40 and then at $1,140.00. From a longer-term perspective, an examination of the monthly continuation chart for nearby Comex gold futures shows a solid longer-term price uptrend remains firmly in place, which suggests that in the coming months, the path of least resistance for the precious yellow metal will remain sideways to higher. Stay tuned! Jim Wyckoff

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Daly Gold Report

Gold Settles $17.00 Higher Today… ($1153.00) Physical demand and technical buying fueled the Gold market today despite a strong U.S Dollar. The continued demand for gold from the jewelers of India has helped support and rally the gold market of late. Considering the expectations of over one million weddings in India over the next seven weeks the demand should remain high. Gold traders also gained confidence after the Bank of Japan announced it would keep its interest rates at 0.1%. This helped to fuel gold’s rally sending it through key technical resistance levels ($1140.00) and touching off STOP-LOSS Orders creating a buying frenzy that rallied the market through the $1150.00 level. This rally most likely shook out me stubborn “BEAR POSITIONS” . The European unions debt crisis is alive and well and Has many investors losing confidence in the EURO and preferring “safer haven” investments such as Gold. The global demand for the yellow metal is the engine driving this rally…. REPORTS: 4/8… EXPORT SALES……………7:30 am (CST) INITIAL JOBLESS CLAIMS..7:30 am (CST) SWING NUMBERS 4/8….JUNE GOLD RESISTANCE # 2…………..$1168.00 RESISTANCE # 1…………..$1161.00 PIVOT………………………..$1147.00 SUPPORT # 1………………$1140.00 SUPPORT # 2………………$1126.00 Mike Daly / Gold Specialist PFG BEST mdaly@pfgbest.com 877-294-4669 312-775-3014 312-563-8029 *There is extreme risk trading futures, options, and forex*

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SPDR Gold (NYSEArca:GLD) Record Bullion Holdings

SPDR Gold Trust Gold bullion held by SPDR Gold Trust (NYSEArca:GLD) has reached record levels, as the exchange-traded fund added 9.7 metric tons of gold to its reserves, the highest ever held by the ETF. Holding as of Thursday for SPDR stand at 1,140.43 tons after adding the physical gold to their holdings. The increase in gold was the largest addition in over six months, and represented an

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