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 Safety
Gold Prices Close Down Below $1,200 an Ounce
In somewhat of a past pattern, gold prices today have been moving downward, mostly on what is perceived as slowing demand in India. Recent lower gold prices has began to create demand in physical ownership in gold rather than investing in the yellow metal. Typically this part of the summer is considered a slow time for gold prices, and they usually will rebound later in the year. I don’t
Gold Prices Soar Today on EU Bank Loan Loss Fears
Gold prices took off early in the day as reports from the European Central Bank said the banks in the region could experience another round of loan losses, this time up to $237 billion over the next year and a half.The uncertainty of the economic fallout from Portugal, Italy, Ireland, Greece and Spain have investors concerned over how deeply it will impact the economy, and how far it’ll spread to
Gold Future Prices Driven Up by Haven Demand
Gold futures prices are on the rebound today as a demand for a safe haven again has dominated the market, and investors invest to preserve their wealth. This was the highest gain for gold, which may be at the end of the correction, after speculators took their profits after a strong increase in price. Another reason for taking gold profits last week was investors had incurred losses in other
Jim Rogers: Gold Going Much Higher
Commodities investing expert Jim Rogers continues his mantra on being a bull for most commodities for the next decade or so, and he reiterates that position with gold, which he says will continue to be considered a safe haven again inflation from the weakening of paper currencies. With faith in fiat currencies continuing to weaken, gold has reached record levels against a number of currencies,
Gold as Currency and Safe Haven
One of the more positive results of the economic crisis we face is abn increasing number of people are better understanding the overall scheme of economics, currencies, the central banks, and gold. Gold prices today have risen to just under record levels, and that alone is good news, not just for gains made by investors, but because it reveals people in general are starting to see that
Gold Trading at Record Highs in British pound, euro and Swiss franc
This last week had gold reaching its highest trading level against the British pound, euro and Swiss franc, as the potential for a sovereign debt catastrophe in Europe looms over the investment world and people and institutions want a safe place to have their money. It seems the depth of the latest crisis isn’t even comprehended by most, but it boggles the mind when start talking of countries
Buying Opportunity for Gold
With the endless amount of economic news coming out which reiterates the volatility in the market, along with continuing government attempts to manipulate things behind the scenes, like the charges of fraud against Goldman Sachs (NYSE:GS) in order to push forward their regulatory agenda, gold has a lot of opportunities to present buying opportunities, and we need to be vigilant in watching for
Greece Borrowing and Gold
Gold: The New CurrencyThe finance minister of Greece announced today that the country will continue to borrow, even at the high interest rates which have increased of costs of attaining capital. It generates the question of how all of this will affect the price of gold, the yen, and the U.S. dollar.Investors are again losing any faith that is left in the country, and are very unsure as to weather
Safety Concerns Drive Gold Prices Up
Greek Sovereign Debt and Liquidity Problems Drive Gold Prices UpAfter gold rose well past $1,150 an ounce today before settling below the mark, safety was the key factor driving it, and as ongoing concerns about Greece and the euro continue in the forefront, that will be the case for some time to come.There appears to be a return to a liquidity crisis in Greece, as Commerzbank is pulling it repos
Gold Prices and Unemployment Claims
We’ve been talking some recently on Everything Gold about the false connections so-called financial reporters are making between alleged improved economic conditions and gold.The latest example I found was in reference to the U.S. Labor Department reporting unemployment claims dropped to 439,000 last week. This particular writer actually connected this to the reason gold prices rose during the
