Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
Is Crude Oil Firmly on the Upswing Now? - 20th Feb 20
What Can Stop the Stocks Bull – Or At Least, Make It Pause? - 20th Feb 20
Trump and Economic News That Drive Gold, Not Just Coronavirus - 20th Feb 20
Coronavirus COVID19 UK Infection Prevention, Boosting Immune Systems, Birmingham, Sheffield - 20th Feb 20
Silver’s Valuable Insights Into the Upcoming PMs Rally - 20th Feb 20
Coronavirus Coming Storm Act Now to Protect Yourselves and Family to Survive COVID-19 Pandemic - 19th Feb 20
Future Silver Prices Will Shock People, and They’ll Kick Themselves for Not Buying Under $20… - 19th Feb 20
What Alexis Kennedy Learned from Launching Cultist Simulator - 19th Feb 20
Stock Market Potential Short-term top - 18th Feb 20
Coronavirus Fourth Turning - No One Gets Out Of Here Alive! - 18th Feb 20
The Stocks Hit Worst From the Coronavirus - 18th Feb 20
Tips on Pest Control: How to Prevent Pests and Rodents - 18th Feb 20
Buying a Custom Built Gaming PC From Overclockers.co.uk - 1. Delivery and Unboxing - 17th Feb 20
BAIDU (BIDU) Illustrates Why You Should NOT Invest in Chinese Stocks - 17th Feb 20
Financial Markets News Report: February 17, 2020 - February 21, 2020 - 17th Feb 20
NVIDIA (NVDA) GPU King For AI Mega-trend Tech Stocks Investing 2020 - 17th Feb 20
Stock Market Bubble - No One Gets Out Of Here Alive! - 17th Feb 20
British Pound GBP Trend Forecast 2020 - 16th Feb 20
SAMSUNG AI Mega-trend Tech Stocks Investing 2020 - 16th Feb 20
Ignore the Polls, the Markets Have Already Told You Who Wins in 2020 - 16th Feb 20
UK Coronavirus COVID-19 Pandemic WARNING! Sheffield, Manchester, Birmingham Outbreaks Probable - 16th Feb 20
iShares Nasdaq Biotechnology ETF IBB AI Mega-trend Tech Stocks Investing 2020 - 15th Feb 20
Gold Stocks Still Stalled - 15th Feb 20
Is The Technology Stocks Sector Setting Up For A Crash? - 15th Feb 20
UK Calm Before Corona Virus Storm - Infections Forecast into End March 2020 - 15th Feb 20
The Growing Weaponization of Space - 14th Feb 20
Will the 2020s Be Good or Bad for the Gold Market? - 14th Feb 20
Predictive Modeling Suggests Gold Price Will Break Above $1650 Within 15~30 Days - 14th Feb 20
UK Coronavirus COVID-19 Infections and Deaths Trend Forecast 2020 - 14th Feb 20
Coronavirus, Powell and Gold - 14th Feb 20
How the Corona Virus is Affecting Global Stock Markets - 14th Feb 20
British Pound GBP Trend and Elliott Wave Analysis - 13th Feb 20
Owning and Driving a Land Rover Discovery Sport in 2020 - 2 YEAR Review - 13th Feb 20
Shipping Rates Plunge, Commodities and Stocks May Follow - 13th Feb 20
Powell says Fed will aggressively use QE to fight next recession - 13th Feb 20
PALLADIUM - THIS Is What a Run on the Bank for Precious Metals Looks Like… - 13th Feb 20
Bitcoin: "Is it too late to get in?" Get Answers Now - 13th Feb 20
China Coronavirus Infections Soar by 1/3rd to 60,000, Deaths Jump to 1,367 - 13th Feb 20
Crude Oil Price Action – Like a Coiled Spring Already? - 13th Feb 20
China Under Reporting Coronavirus COVID-19 Infections, Africa and South America Hidden Outbreaks - 12th Feb 20
Will USD X Decline About to Trigger Precious Metals Rally - 12th Feb 20
Copper Market is a Coiled Spring - 12th Feb 20
Dow Theory Stock Market Warning from the Utilities Index - 12th Feb 20
How to Get Virgin Media Engineers to FIX Hub 3.0 Problems and NOT BS Customers - 12th Feb 20
China Under Reporting Coronavirus COVID-19 Infections by 66% Due to Capacity Constraints - 12th Feb 20
Is Coronavirus the Black Swan That Takes Gold To-Da-Moon? - 12th Feb 20
Stock Market 2020 – A Close Look At What To Expect - 12th Feb 20
IBM AI Mega-trend Tech Stocks Investing 2020 - 11th Feb 20
The US Dollar’s Subtle Message for Gold - 11th Feb 20
What All To Do Before Opening A Bank Account For Your Business - 11th Feb 20
How and When to Enter Day Trades & Swing Trade For Maximum Gains - 11th Feb 20
The Great Stock Market Dichotomy - 11th Feb 20
Stock Market Sector Rotation Should Peak Within 60+ Days – Part II - 11th Feb 20
CoronaVirus Pandemic Stocks Bear Market Risk 2020? - Video - 11th Feb 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Gold Bull Market Continues On A Roll!

Commodities / Gold & Silver Feb 26, 2008 - 06:36 PM GMT

By: David_Vaughn

Commodities Gold continues to perform beyond all expectations. Many readers are angry because they believe gold is climbing too high too fast. Blame it ultimately on the US dollar. I believe Friday gold climbed as high as 950 before resting comfortably at 944 an ounce. What goes on here? Why does gold continue to climb like this? We are almost at 1,000 an ounce and gold shows no weakness.


“Gold traded in London at $943.50 per troy ounce, down from $950.45 late Thursday. In Zurich , gold traded at $938.95 bid per troy ounce, down from $943.65.” AP Business News, 2-22-2008

Looks like gold is heading to 1,000 an ounce whether we are ready or not. Paper assets are crashing all around us and that is one reason gold is doing so well and heading to 1,000 an ounce.

Bill Buckler, The Privateer “…the ever-widening financial crisis has shaken investors' faith in the whole system. People no longer trust assurances that fancy financial instruments will function the way they're supposed to."

My how time does fly. Short term rallies come & go but it is the long term trend that always ultimately matters. And the LONG term trend just does not portend well for the US Dollar. But really, in the end all of this is really about what we want to believe or not believe. Our choice really. And for the majority right now I believe complete apathy is the order of the day . And as the US dollar continues its long slide downhill where will tomorrow's wealth & riches come from?

Rick Ackerman – But we see no evidence that gold is about to accommodate laggards with a prolonged selloff. Comex futures have been routinely hitting their rally targets, and we have every confidence that they will continue to do so, racking up yet one more conquest today or Friday when they hit a 975.60 target we've projected for the April contract. Exactly what to expect thereafter depends on how the futures interact with the target, a Hidden Pivot derived from the hourly chart. The details that might enable us to see a bit further ahead, and to shrug off any retracement that follows the predicted minor-cycle top, are laid out explicitly in Thursday's touts. Check it out!” Rick Ackerman, Kitco , 2-21-2008

I ran across some old emails from readers back when gold was below 500 an ounce. I thought they were interesting and worth hearing again.

“Gold continues to excite many & I continue to receive so many positive favorable personal comments about the gold market. Let's listen to some of these very encouraging & uplifting comments about the wonderful gold market (2005).”

“It's gonna get crushed here shortly.” “Stop leading the blind to the Cabal to be slaughtered.” “Watchout! A thrashing is coming to your area soon.” “You guys…are smoking some whacky stuff.” S.C.

“Dear David, In your latest article you state that gold is getting ready to liftoff and that $500 is just ahead.” Seems like we have been hearing that for three years or more. It should arrive, however, in time for our grandchildren to enjoy. And if not our grandchildren, probably our great grandchildren will see $500 gold. I would recommend that you not try to hold your breath until then.” Best Regards, Don

The following below represents the professional analysis of the gold market.

Wendy Lynn Ip, Kitco 's Weekly  Precious Metals and Economic Review, Week Ending February 22, 2008  -   Gold's London PM Fix reached new highs over the course of last week. With London PM postings well within the $900 per ounce region, the PM would reach a high of $945 per ounce before finishing the week a bit lower at $943. Last week's strength gave way to a 1.4% increase in its average PM from the week ending February 15. This is equivalent to an average increase in gold's London PM by $13.17 per ounce. Its average price would sit comfortably above its 10-day (2-week) to 120-day (6-month) moving average. With continued support coming from a weaker U.S. dollar, inflationary concerns from updated information on energy prices (WTI crude oil reached $100 per barrel last week) as well as expectations of a reduction in the federal funds target rate this March, affirmations of continued economic weakness and downgrades to economic forecasts (negatively impacting equity performance), it comes to no surprise that gold, along with all the other metals, would continue to perform well. Real annual gains posted a 34% increase, one percentage point higher from last week.”

Anyway, the gold and silver shares remain tremendously under priced and still at bargain prices. Just a matter of time before they catch up to the gold price.

Think long term, always longer term. The price of gold in the short term will move in extremes in every direction but gold will be overall strong for the rest of this decade and beyond. It's not too late to invest in gold related equities to take advantage of their wealth generating attributes. We are living in the last days of cheap resources and cheap commodities. Gold Letter, Inc. reviews undervalued gold stocks poised to rise in this time of increasing demand.

 

Click here to order Gold Letter

Don't forget to email.

By David Vaughn
Gold Letter, Inc.
David4054@charter.net

© Copyright 2008, Gold Letter Inc.

“The Worldwatch Institute, an organization that focuses on environmental, social and economic trends, says the current rate of global demand for resources is unsustainable.”  

The publisher and its affiliates, officers, directors and owner may actively trade in investments discussed in this newsletter. They may have positions in the securities recommended and may increase or decrease such positions without notice. The publisher is not a registered investment advisor. Subscribers should not view this publication as offering personalized legal, tax, accounting or investment-related advice. The news and editorial viewpoints, and other information on the investments discussed herein are obtained from sources deemed reliable, but their accuracy is not guaranteed. © Copyright 2008, Gold Letter Inc.

David Vaughn Archive

© 2005-2019 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