Best of the Week
Most Popular
1. Best Cash ISA Savings Account for Soaring UK Inflation - February 2018 - Nadeem_Walayat
2.Gold Price Forecast 2018 - February Update - Nadeem_Walayat
3.Bitcoin Crypto Currencies Crash 2018, Are We Near the Bottom? - Nadeem_Walayat
4.Trump Bubble Bursts, Stock Market Panic Dow 1175 Point Crash Analysis - Nadeem_Walayat
5.Gold Corrects, Bitcoin Markets Crash, Whilst Stocks Plunge - Nadeem_Walayat
6.US Treasury Bonds: Fuse to Light the Bonfire - Jim_Willie_CB
7.Dow Falls 666 Points As Cryptocurrencies Crash And Krugman Emerges From His Van - Jeff_Berwick
8.Stock Market Roller Coaster Crash Ride Down to Dow Forecast 23,000 - Nadeem_Walayat
9.Trading the Shadows - Oil, Dollar, Stocks, Gold Trend Analysis - B.R. Hollister
10.Stock Market Analysis: Baying for Blood - Abalgorithm
Last 7 days
An Inflation Indicator to Watch, Part 1 - 18th Feb 18
Get on Top Of Debt Before It Gets on Top of You - 18th Feb 18
Will the Stock Market Make a Double Bottom? - 18th Feb 18
5 Reasons Why Commodities Are the Investment Place to be in 2018 - 18th Feb 18
1 Week Later, Stock, Bond Market Risk Remains ‘On’ as 2 of 3 Amigos Ride On - 17th Feb 18
Crude Oil Prices: A Case of Dueling Narratives? - 17th Feb 18
Free 1000 Youtube Subscribers Services - YTpals, Subpals, SubmeNow Test - 17th Feb 18
How to Trade as We Near March Stock Market Top - 16th Feb 18
Bitcoin as Poison - 16th Feb 18
GDX Gold ETF Weathers Stock Market Selloff - 16th Feb 18
Casino Statistics and Demographics - 16th Feb 18
IS Today Thee Stock Market Turn Day? - 16th Feb 18
Huge SMIGGLE Shopping HAUL, Pencil Cases, Drinks Bottles, Back Packs, Toys.... - 16th Feb 18
Tesla Cash Keeps Burning at $320 a Share - 15th Feb 18
Big Conflict Ahead in the Financial Markets - 15th Feb 18
Stocks Extend Rally Off Friday's Low, But Short-Term Exhaustion Near - 15th Feb 18
Stock Market Out on a Limb... - 15th Feb 18
Things Only a True Friend Would Say About Gold - 14th Feb 18
Global Debt Crisis II Cometh - 14th Feb 18
Understanding Crude Oil Behavior - 14th Feb 18
Stock Market is Getting Scary... - 14th Feb 18
Stock Market - This Time is Different. Really?! - 13th Feb 18
Gold and Silver Long-term Buy, Short-term Sell Signal - 13th Feb 18
SPX Futures Are Sliding... - 13th Feb 18
Stock Market Topping Process Begins. The Bubble Finds its Pin - 13th Feb 18
Math Behind the Stock Market Crash and What’s Next – PART2 - 13th Feb 18
Gold Stocks Groundhog Week - 13th Feb 18
Platinum Looks Poised for Surprising Gains This Year - 12th Feb 18
Friday's S&P 500 Stock Market Bounce To Continue, But Selling May Resume - 12th Feb 18
The Inflation Trade and Bond Yields Rising Result in Equities Correction - 12th Feb 18
February 2018 Stock Market Crisis – What Next? - 12th Feb 18
How To Profit From The Bitcoin Bloodbath - 12th Feb 18
The Philippine Economic Dream Could Be Within the Reach  - 12th Feb 18
Is the Stock Market Correction Over? - 12th Feb 18
What Does the Stock Market Decline Mean for Gold - 12th Feb 18
Addicted to SMIGGLE Mega Review, Pencil Cases, Stationary, Back Packs, Drinking Bottles, Toys... - 12th Feb 18
Best Cash ISA Savings Account for Soaring UK Inflation - February 2018 - 11th Feb 18
The Fed’s Impossible Choice, In Three Charts - 11th Feb 18
US Stock Market, Gold, Silver and the Macro Backdrop - 11th Feb 18
After Two weeks of Stock Market Decline, People Are Ssking, “Are We There Yet?” - 11th Feb 18
How to Grow Tomatoes From Seeds, Homegrown Organic Money Saving Gardening - 11th Feb 18
Youtube KILLS ALL Small Channels with New DeMonetization Rules - 11th Feb 18

Market Oracle FREE Newsletter

Urgent Stock Market Message

Gold Set to Return to Run of Records in 2013

Commodities / Gold and Silver 2013 Dec 06, 2012 - 10:59 AM GMT

By: GoldCore

Commodities

Today’s AM fix was USD 1,693.00, EUR 1,295.14, and GBP 1,050.77 per ounce.
Yesterday’s AM fix was USD 1,703.00, EUR 1,300.79, and GBP 1,057.90 per ounce.

Silver is trading at $32.73/oz, €25.15/oz and £20.40/oz. Platinum is trading at $1,586.00/oz, palladium at $680.00/oz and rhodium at $1,045/oz.


Gold fell $3.10 or 0.18% in New York yesterday and closed at $1,693.60/oz. Silver climbed to $33.24 then slid to $32.51, but finished after an afternoon rally with a loss of 0.33%.

Gold inched down on Thursday, near the monthly low reached in the prior session under pressure from a stronger greenback as players await the European Central Bank rate decision at 1245 GMT and US Initial Jobless Claims at 1330 GMT.

Physical buying of gold bullion has increased on the dip, particularly in Asia, and many are seeing these levels as a floor for prices.

The massive consolidation seen in the last 16 months means that gold and silver are now right on their long term moving averages (See charts showing 100, 200 and 365 daily moving averages)

Gold will revisit its record breaking form of the past four years in 2013 after gains were tempered this year by reduced jewelry demand.

Bloomberg Chart of the Day – Gold Poised For 12th Consecutive Gain

Bloomberg's 'CHART OF THE DAY' shows gold climbed to records every year since 2008 until this year, with the all-time high still the $1,921.15 an ounce set in September 2011.

Gold has consolidated on previous years gains this year and has risen another 8.2% so far in 2012.

Gold bullion will average a record $1,925 in the fourth quarter next year, the median of 16 analyst estimates compiled by Bloomberg last month show. This would be a return of 13% in 2013.

The Federal Reserve said Oct. 24 it will maintain $40 billion in monthly purchases of mortgage debt and probably hold interest rates near zero until mid-2015.

Gold rose 70% as the Fed bought $2.3 trillion of debt in two rounds of monetary easing from December 2008 through June 2011. The Bank of Japan and the European Central Bank have pledged more action and China has approved a $158 billion subways-to-roads construction plan.

European peoples struggle while their governments rack up huge debts and then force unbearable austerity measures on them, as they continue to cheapen the value of the single currency’s purchasing power. With little to no extra cash to spend consumers can’t organically put extra money in their struggling economies.

In nearly the 4th year of the European debt crisis, it doesn’t take a rocket scientist to figure out that the current policies are not working. People are beginning to look at gold and silver as safer stores of value than paper and electronic currencies.

Gold Spot $/oz, 2007-2012 – (Bloomberg)

Gold bullion is becoming many central banks safe haven again and it will again become the public’s safe haven of choice in the coming years.

Investors, hedge funds and institutions boosted assets in gold-backed exchange-traded products to a record this year, holding more than the official reserves of every nation except the U.S. and Germany. Investors held a record 2,627 metric tons in gold ETPs on December 4, data compiled by Bloomberg show.

Gold jewelry demand slumped 9.8% in the first nine months this year, World Gold Council data show.

Importantly, gold has yet to exceed previous records when adjusted for inflation, with its 1980 peak of $850 equal to $2,398 today, data compiled by the Federal Reserve Bank of Minneapolis show.

This puts gold rise in price in recent years in context.

Silver To Outperform Gold In 2013 – Morgan Stanley
Gold and silver remain Morgan Stanley’s ‘top picks’ for 2013. Morgan Stanley maintains its long standing recommendation to be overweight precious metals, analysts including Peter Richardson write in a report according to Bloomberg.

Morgan Stanley said the yellow metal may average $1,853/oz in 2013 – for a return of 9.5%.

Silver Spot $/oz, 2007-2012 – (Bloomberg)

Gold investment demand will remain strong against weaker USD, low real interest rates, central bank buying, enhanced geopolitical uncertainty.

Silver more volatile but cheaper safe-haven play than gold; expect silver to outperform gold in 2013.

For the latest news and commentary on financial markets and gold please follow us on Twitter.

GOLDNOMICS - CASH OR GOLD BULLION?




'GoldNomics' can be viewed by clicking on the image above or on our YouTube channel:
www.youtube.com/goldcorelimited

This update can be found on the GoldCore blog here.

Yours sincerely,
Mark O'Byrne
Exective Director

IRL
63
FITZWILLIAM SQUARE
DUBLIN 2

E info@goldcore.com

UK
NO. 1 CORNHILL
LONDON 2
EC3V 3ND

IRL +353 (0)1 632 5010
UK +44 (0)203 086 9200
US +1 (302)635 1160

W www.goldcore.com

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 63 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'

GoldCore Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules