Gold and Silver moving this morning

tggr · January 24, 2007 10:31PM

MARKET IS OPEN
(Will close in 5 hrs. 2 mins.)
Metals
Date
Time
(EST)
Bid
Ask
Change
Low
High

GOLD
01/25/2007
08:28
652.50
654.00
+5.40
+0.83%
650.80
654.00

SILVER
01/25/2007
08:28
13.44
13.54
+0.26
+1.97%
13.39
13.54

PLATINUM
01/25/2007
08:28
1186.00
1187.00
+11.00
+0.94%
1181.00
1187.00

PALLADIUM
01/25/2007
08:27
354.00
357.00
+5.00
+1.43%
352.00
357.00

Barndog · January 24, 2007 10:34PM

indeed

PerryHall · January 24, 2007 11:10PM

What's happening in the world to cause this fast rise in PM's?

ricko · January 24, 2007 11:51PM

Lack of confidence in currency.... Cheers, RickO

HonoluluDude · January 31, 2007 1:00AM

Breakout in gold and silver so far it seems. Let's see if the strength holds into the close.

BigRed · January 31, 2007 3:10AM

I think i'm going to lay low in metals for a while.I don't know if it's going to take off or it's just a little spike.Gold's getting to expensive for me.

richardshipp · January 31, 2007 3:14AM

Yestday about 6:30pm Central; Bloomberg (cable tv) did about a 15 minute (real long by their standards) report on Silver. They noted increased industrial usage; biomed usage; and an increasing gap between production and consumption. Everything they discussed wasn't news to me but I wish they would not report on it until some time in the distant future.....

dpoole · January 31, 2007 3:16AM

The fact that the emperor's Dollar has no clothes will eventually become too obvious too mask. These prices have to reflect that sooner or later.

basestealer · January 31, 2007 3:16AM

<< What's happening in the world to cause this fast rise in PM's? >>

Nothing really happens. Precious metals don't really increase in value. Fiat currency decreases in value on a daily basis, every single day, day in and day out, day by day, la de da. Commodities only appear to gain value, when in fact they're just holding steady as the dollar that buys them collapses.

Graphix · January 31, 2007 3:20AM

<< What's happening in the world to cause this fast rise in PM's? >>

Valentine's Day!

topstuf · January 31, 2007 3:33AM

If you like some income with your gold, you might like to look at GGN.
I own it. I like it.
Gold sector exposure with 7% dividend.
Not bad.

HonoluluDude · January 31, 2007 3:34AM

<< 

<< What's happening in the world to cause this fast rise in PM's? >>

Nothing really happens. Precious metals don't really increase in value. Fiat currency decreases in value on a daily basis, every single day, day in and day out, day by day, la de da. Commodities only appear to gain value, when in fact they're just holding steady as the dollar that buys them collapses. >>

I'll buy that. But when prices are artificially supressed, one could argue that gold/silver is undervalued vs. fiat currently.

bluespaceant · January 31, 2007 9:17AM

basestealer · January 31, 2007 9:24AM

<< 

<< 

<< What's happening in the world to cause this fast rise in PM's? >>

Nothing really happens. Precious metals don't really increase in value. Fiat currency decreases in value on a daily basis, every single day, day in and day out, day by day, la de da. Commodities only appear to gain value, when in fact they're just holding steady as the dollar that buys them collapses. >>

I'll buy that. But when prices are artificially supressed, one could argue that gold/silver is undervalued vs. fiat currently. >>

The price of precious metals was artificially depressed through much of the late 1980's through the 1990's because during that time governments still held huge stockpiles of gold (left over from previous gold standards). So when a shortage appeared on the horizon, these banks would literally dump millions of ounces into the market, and the price would go back down. This happened over and over again during this period. It's not happening so much anymore, because the stockpiles have all been depleted. Contrary to popular belief, the US gold hoard at Fort Knox is gone. Poof. I think for the first time in many years, gold is increasing at the direction of the free market, rather than market manipulators. Ironically, silver is outpacing gold because so many people were caught shorting silver, and they realize they had better fill their orders before they lose their you know what.

mrearlygold · January 31, 2007 9:48AM

Freak1c · January 31, 2007 10:10AM

...Next stop $685 oz. Gold... C'mon Gold !!!

Freak

roadrunner · January 31, 2007 11:12AM

$685 is probably about the next goal. But even if another correction knocks it back to the $625 range, it will still make it back to $685+.

Considering that world M3 has increased an average of 10% per year since 1980 (13X increase), the fact that gold is priced about the same since then is literally incredible. Do with that information what you want. The supression and gamesmanship in gold that occurred the past 20 years will not continue into the next 5-8 years. The market is certainly not free, but it will act far freer than it has.
Gold maintains its value while all fiat money heads to worthlessness.
Stocks and bonds are fiat money denominated assets.

roadrunner

Freak1c · January 31, 2007 12:00PM

<< The supression and gamesmanship in gold that occurred the past 20 years will not continue into the next 5-8 years. The market is certainly not free, >>

This market is especially suppressed, IMO, since the days of fiat currencies. I agree it will be harder to control in the days/years to come. Just ask the EU central banks.

<< Gold maintains its value while all fiat money heads to worthlessness >>

It's always been worthless (once it became fiat currency) it's the other side of the minipulation market of Gold, IMO.

Freak

Goldbully · January 31, 2007 11:03PM

Touched $660.................

Kitco

tggr · January 31, 2007 11:06PM

GOLD
02/01/2007
09:04
660.00
661.50
+8.10
+1.24%
654.80
661.50

SILVER
02/01/2007
09:04
13.72
13.82
+0.27
+2.01%
13.57
13.82

PLATINUM
02/01/2007
09:05
1188.00
1194.00
+5.00
+0.42%
1180.00
1200.00

PALLADIUM
02/01/2007
08:59
346.00
349.00
+8.00
+2.37%
341.00
349.00

BrianKuszmar · January 31, 2007 11:20PM

So far my metals prices crystal ball has been right the last two years, actually in reality it has happened quicker than my predictions thus far-

Imho as I said last year, we will easily break the $700 level and silver will break the $15 mark this year. ( I'm suspecting by spring or sooner)

My gut feelings says that we will see gold bust all time highs in our near future and I can see silver over $20, how much over $20? Here is where my Crystal ball and gut feelings stop-

When $20+ silver? Imo this year maybe and if not probably by 08-
Thats been my opinion and I'm sticking to it-

My crystal ball says gold prices will range from $800-$1000
Silver $20-$30
By the end of 2008

Regards and best to all-

MORGANHUNTER2 · January 31, 2007 11:31PM

Silver needs to rise drastically for any decent return on an investment standpoint.

20 is not enough- 35 would work.

ttown · January 31, 2007 11:40PM

The IMF is being urged to sell 400 metric tons of gold to cover losses on 3rd world loans over a period of several years. That could have a neg. effect on gold.

ricko · January 31, 2007 11:43PM

Brian... your crystal ball is quite reliable... and in concert with several others. I would side with you before most of the naysayers... It is never a sure thing (if it were - many more would be wealthy beyond dreams).. but there are indicators, charts, reports etc... and reviewing these indicate we are most likely in for a positive run on these metals. Cheers, RickO

DeepCoin · February 1, 2007 12:09AM

If you look at the one year trading data for gold, it has been moving up and down in that range. Today is no big deal and most likely reflects what is happening in the equity markets right now.

coynclecter · February 1, 2007 12:10AM

<< Silver needs to rise drastically for any decent return on an investment standpoint. >>

My return has been almost 100% in the last 18 months, that's good enough for me. Stocks /bonds all pay under 10. If it goes to 20 in the next 3 year thats still almost 20% per year. If thats not a good enough return then you need to go to Vegas to do your "investing"

If you think you need anything to give you better than 10% annual then you're not investing, you're gambling. If you average 10% over the long term then you have beat most major Wall Street gurus.

The bull market in PM combined with the bear market in the dollar will continue for a long time. But expect some major corrections as we go.

CC2GO · February 1, 2007 12:30AM

<< What's happening in the world to cause this fast rise in PM's? >>

Bush plans to attack Iran's Nuclear Test Sites by April!

It's all over the Net. Plus, that's going to cause oil
prices to skyrocket too because of military needs
and give Bush another reason to telll Americans
that we're too dependent on oil.

You should know the drill by now! Everything is predictable now because it's become our custom!
More wars! Higher gas prices! Higher prices in PM's! More children and homeless left behind! etc.....

13PacesEast · February 1, 2007 12:38AM

<< Contrary to popular belief, the US gold hoard at Fort Knox is gone. Poof. >>

i call BS.

BrianKuszmar · February 1, 2007 12:47AM

As far as silver, I have been saying for the last few years that the overall trend upwards by silver will be set by TRUE supply and demand factors. Silvers non-recoverable uses in Industry is HUGE, above ground supplies diminishing, reserves(?) nobody knows, in-ground(?)well according to one of the largest, they are WAY behind in the ability to even meet demand by 2008.
All these down spikes are SHORTs driven by commodities traders, NOT physical demand or lack of.

Also remember, FAR more contracts exist then physical supply. This will bite the shorts in the ass big time one day.

Regards

roadrunner · February 1, 2007 2:04PM

It is inconceivable to me that the 8000+ oz of US gold on the books still remains under our actual ownership. While we will never know the real number it is a certainty a portion has been sold off due to the actions of the FED's FOMC (ie damage control on the USDX).

roadrunner

basestealer · February 1, 2007 3:32PM

<< 

<< Contrary to popular belief, the US gold hoard at Fort Knox is gone. Poof. >>

i call BS. >>

Read. Read and learn!
Please allow me to read and learn

Gold and Silver moving this morning

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