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
Gold Prices 2010
Gold Ready to Break $1,400 an Ounce
Gold continues to press toward the $1,400 an ounce mark as on Friday it traded as high as $1,398 before pulling back. While not unprecedented, especially over the last year, gold did remain strong in light of the fact the U.S. dollar also showed strength, which usually carry an inverse relationship to one another; gold goes up when the dollar goes down and the reverse as well. What determines
Goldcorp (NYSE:GG) Soars and Scores in Third Quarter
Goldcorp (NYSE:GG) soared over 5 percent by the close of trading Thursday, ending the session at $44.29, after a stunning performance in the third quarter. What was most impressive was its management of costs, even though the reported story will probably be the fact they increased profits y four times the same quarter last year, reaching $4.66.5 million, or 63 cents a share. That’s up from
Gold Prices Shine for Eighth Straight Quarter
For the eighth quarter in a row gold prices have ended in positive territory, as everything which supports gold remains in place. Adding to the recent push is the realization we’re still in a recession, and a long way from emerging from it. That means the inevitable interference of the government via quantitative easing, where they waste money by attempting to throw it at the problem again, even
John Paulson: Gold Could Hit $4,000
Hedge fund manager and billionaire John Paulson said he sees gold prices moving in a range of $2,400 to $4,000 an ounce, citing double-digit inflation emerging by 2012. Paulson, speaking at New York’s University Club recently, said 80 percent of his assets are held in gold. He added that the coming inflation will result in gold prices being pushed up even more. Paulson also said the inevitable
Gold Still Inexpensive Says Marc Faber
Speaking at a CLSA Investors’ Forum 2010 in Hong Kong recently, Marc Faber said he still sees gold prices as relatively inexpensive, even though record prices continue to be set. Faber gave his reasoning as this, “Given all the unfunded liabilities and the money printing in the world and the size of the financial assets in the world, I don’t think we are in a bubble.”He’s definitely right. At
George Soros Clueless on Gold and "Ultimate Bubble"
George Soros seems to be clueless on gold and his obsession with it being the “ultimate bubble.”Soros doesn’t seem to understand the reason there’s support under gold and why that will continue for a long time.He said to Reuters, “I called gold the ultimate bubble which means it may go higher but it’s certainly not safe and it’s not going to last forever,” although reluctantly admitting it’s the
Will Yamana Gold (NYSE:AUY) Every Recover?
Yamana Gold (NYSE:AUY) continues to be the gold mining stock that could and should, but doesn’t. Investors have lost interest in Yamana when it started to downwardly revise production targets, and while recovering some, it still remains flat, and seemingly undervalued. If you acquired shares in Yamana in November of 2008, you would be happy, as it had dropped to $3.60, and closed Friday at
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
Gold Fields’ (NYSE:GFI) Nick Holland Says Company Not Relying On Gold Price
The CEO of Gold Fields (NYSE:GFI), Nick Holland, said in an interview that the company isn’t going to rely on gold prices to “bail us out.” Holland added that the company is actually going to budget a lower price than the spot price is today.This isn’t to say he believes gold prices are going to fall, but that the company needs to focus on streamlining their operations, and that’s going to be the
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
