Put 12 investors in a room and you’ll get 12 different opinions on gold. That’s the kind of asset gold is. It has no commercial use. It thrives or dives on investor sentiment. So how do you predict sentiment?
What’s up with gold? Is its bullish run finally over? The price of gold peaked at about $1,900 last August. It is currently at about $1,625, a fall of 15%. Fidelity says the fall happened because gold has fallen more on signals that inflation was contained than it has risen on signals that inflation remains a threat.
For a while it looked like all hell was going to break out last week…
Greece finally got its latest bailout approved on Wednesday. But both the Greek and EU sides were playing hardball. And it generated a great deal of nervousness in the markets.
Yesterday gold plunged more than $100, its biggest one-day percentage drop in more than three years. What happened?
Bernanke was giving testimony to Congress. On the one hand our head economist wasn’t very impressed with the economy. But on the other hand he gave no hint or no mention of a possible QE3 brewing in the future.
China is already the world’s biggest metals consumer. But they aren’t top dog in all metals, at least not yet. The metal I’m taking about is the precious yellow metal. India still holds the top spot as the world’s number one buyer of gold
India has valued gold for centuries. It still does. Gold has just gotten a bit pricy at a time when the Indian Rupee has lost value. So Indians didn’t buy as much gold as usual during the second half of last year.
There is more interest in the silver market than probably ever before. How do I know? Not from currency speculators…or volume on the silver ETFs…or what far-off countries like China is doing. I like to keep an eye on the coin buyers. They’re the ones who tell me if prices will be rising or falling in the following months.
By David Dutkewych, Commodities Analyst My kids love putting money in their piggy banks. They are too young to recognize the value of each coin. 10 pennies make them happier than a single quarter. This got me to thinking, is it time to start raiding my kids’ piggy bank and sorting through
