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Posts Tagged ‘palladium’

Paper Markets Are A Joke: Prepare for Bullion Prices to Go Supernova

July 6, 2011 1 comment

zerohedge

“I think that the prices will continue higher. I mean the amount of money printing is unbelievable. I just think you have to take that initial stand in terms of buying it. I use the James Turk analogy: just keep dollar averaging. We have gone up eleven years in a row, this year it looks like it will be no exception; I would certainly think next year will be no exception. If we ever have QE3 announced, I think gold and silver will just go absolutely bonkers here. And so I just think you have got to step in there and own it; we’ve had these fears all the way along. You know, $400, and $500 and $700 and $800 dollar gold, everyone was afraid it was a one-time thing. I don’t think it is a one-time thing, I think it is Read more…

Gold Climbs to Record for Second Day on Inflation; Silver at 31-Year Peak

April 6, 2011 Comments off

bloomberg

Gold gained to a record for a second day in New York and London as rising inflation spurred demand for an investment haven and the dollar slumped against the euro. Silver advanced to a 31-year high.

China raised interest rates yesterday for the fourth time since mid-October ahead of a report that may show consumer prices climbed last month at the fastest pace since 2008. The euro rallied to a more-than 14-month high versus the greenback before the European Central Bank meets tomorrow to decide on interest rates.

“The reality of accelerating inflation in China is indeed positive for gold,” UBS AG analyst Edel Tully said in a report. Some investors buy gold as a hedge against rising prices.

Gold for June delivery rose $6.90, or 0.5 percent, to $1,459.40 an ounce at 8 a.m. in New York after reaching a record $1,462.10 earlier today. Gold for immediate-delivery rose as much as 0.4 percent to an all-time high of $1,460.92 an ounce, and was up 0.2 percent at $1,458.78 in London.

Gold gained to $1,457 an ounce in the morning “fixing” in London, used by some mining companies to sell output, from $1,433.50 at Read more…

Gold Climbs, Silver Touches 30-Year High Amid Inflation Concern

February 18, 2011 Comments off

bloomberg.com

Gold rose to a one-month high as rising consumer prices boosted investor demand for an inflation hedge. Silver touched a 30-year high.

The cost of living in the U.S. climbed in January for a seventh month, the government said today. The U.K. consumer- price index rose to a 26-month high last month, a report this week showed. The precious metal has fallen 2.6 percent this year after rallying 30 percent in 2010 and touching a record in December.

“Gold is ready to resume its uptrend because of the worsening outlook for inflation,” said James Turk, founder of GoldMoney.com, which held $1.4 billion of precious metals and currencies for investors at the end of January.

Gold futures for April delivery climbed $10, or 0.7 percent, to $1,375.10 an ounce at 1:42 p.m. on the Comex in New York. Earlier, the price touched $1,385.40, the highest since Read more…