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 Traders
Browse 4 Gold » Gold and silver daily commentary (June 25, 2010 …
Buy Gold, Buy Gold Coins, Buy Gold Bullion , Buy Gold Jewelry Buy Gold, Buy Gold Coins, Buy Gold Bullion , Buy Gold Jewelry Buy Gold, Buy Gold Coins, Buy Gold Bullion , Buy Gold Jewelry Buy Gold, Buy Gold Coins, Buy Gold Bullion , Buy Gold Jewelry … Gold and silver daily commentary (June 25, 2010) Stock Markets Review Apparently some gold traders are concerned that the upcoming G20 meeting will serve to deflate flight to quality sentiment in the gold market. …
Flight from Gold after Goldman Sachs (NYSE:GS) News
Gold traders dump the yellow metal on Goldman Sachs fraud chargesIn an illogical move, traders fled gold after the news that Goldman Sachs (NYSE:GS) was charged with fraud by securities regulators.The idea that gold is considered a risk in volatile times doesn’t make sense, but then traders behave in that manner, although gold investors don’t. Gold futures plunged on the news, dropping by over
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*
US Gold Futures Up Slightly
U.S. Gold Futures U.S. gold futures ended the day up a little, as it finished the day on the COMEX at $1,108.20 an ounce, a slight 10 cent increase. Currencies moved very little, giving little indication or guidance for gold. A number of gold traders said the possibility of China monetary tightening could move the gold market going forward. U.S. Gold Futures