Why It Is Crucial To Your Finances and Future to buy Gold and Silver-Goldwars.blogspot.com

I may have written on this subject before but I cannot stress enough, do not wait! You should be buying precious metals such as gold and silver now.  I have stated my point of view, now I give you an other's POV.  Kirsty Hogg has written an article in her blog GoldWars on why it is now crucial to your finances and future to buy gold and silver? I urge you to read this treatise as it explains why PMs guard against inflation, why Central banks are manipulating the prices of PMs, and much more. With the National debt at 13 Trillion and counting as the paper flies through the printing presses, our economy cannot hold back the floodgates of inflation much longer.  Read it for yourselves, but more importantly, ACT!

Gold and Oother PM's Start With a Bang then Fizzle Out-March 10, 2010

Gold prices started off slightly higher today on improving investor risk appetite. Gold for April delivery was rising to $1,122.40 at the Comex. Prices traded has high as $1,128.30 and as low as $1,120.50. The U.S dollar index was adding 0.03% to $80.62. Gold's spot price was rising 80 cents according to Kitco's gold index. Many investors were still waiting for a resolution on Greek sovereign debt, but a strengthening euro was helping gold prices. President Obama met with Greece’s Prime Minister Papandreou; however, Obama showed little support for Greece and gave no indications of financial aid.


The European Commission is working on a proposal for a monetary fund to assist struggling European countries, but Greece and Portugal have yet to officially ask for help. Hampering gold's morning rise was the news that China's imports rose by 44.7% last month, crimping its trade surplus. If China raises rates to put the brakes on its economy, many analysts believe that would impact gold prices negatively. Consumer demand for gold in China grew 7% from 2008 to 2009, totaling 462 tons. Initial buying interest has boosted gold somewhat as a result of the European Union debt news and currency fluctuations.

However, gold futures finished lower. According to MarketWatch, traders took a cautious approach ahead of more economic reports from China. Most precious metals sold off early in the session and failed recover during this session. No single reason was attributed to the move lower in precious metals, although a recovery in the dollar index did convince many to sell.

Gold futures are at lows not seen since February 25. Also, gold futures closed just below their simple 50-day moving average. April gold closed 1.3% lower by $14.10 to $1108.20, May silver closed 1.8% lower losing .028 to finish at $17.31 and May copper shed 4.35 cents to $3.368. Actively Traded Lagging Global & Sector ETF Plays: Silver- SLV -1.75%, Gold miners- GDX -1.50%, Gold- GLD -1.25%, Base metals- DBB -0.75% (COMDX).

Article from TheStreet.com : Gold Prices Stall

Alix Steel

March 4, 2010

Gold prices were slipping today due to profit talking by PM investors, and a rise in the U.S. dollar index. The U.S. dollar rallied off of Euro weakness after the European Central Bank announced its decision to keep key interest rates low.

Currently gold's future is mixed, and one factor is the next employment report. A positive report could prompt the Fed to raise interest rates, which would likely impact gold prices negatively. Gold prices were also negatively influenced by Greek debt fears, new uncertainties created volatility for the Euro and gold.

Mining stocks, were also such as Barrick Gold, Newmont Mining, Kinross Gold and Goldcorp were also down. Gold ETF’s such as SPDR Gold Shares were also lower.  To read the article in its entirety go here.

 

Gold Futures Higher on Stronger Euro, Weaker Dollar

An article on Forbes.com reported that gold futures moved higher this morning as the Euro strengthened against the US dollar, and an employment report showed improvement in the U.S. jobs picture. Gold went as high as $1,144.40 per ounce early in the session, to its highest levels since Jan. 11. 2010. Greece's plans to rein in its debt gave strength to the Euro and thus weakened the US Dollar.   Furthermore, the ADP jobs report stated the U.S. private-sector employers cut 40,000 less jobs in February than in January. Gold mining companies also traded higher during this mornings advance. Barrick Gold, AngloGold Ashanti, and Newmont Mining all posted modest gains.  To read the entire article:
Gold Rallies As Dollar Dallies
Greenback falls on Greek belt-tightening, provides boost to metal prices, stocks.
By MarketNewsVideo.com
http://www.forbes.com/2010/03/03/gold-barrick-anglogold-markets-equities-silver-marketnewsvideo.html?partner=email

DUMP GOLD?

I want to make it perfectly clear that this is not my opinion, but I strive to be impartial in the articles I post on this blog.  If you want my opinion go here.

In an opinion article published on Forbes.com, Jan. 5, 2010, Keith McCullough, Chief Executive Officer of Research Edge said “Sell your gold. Buy some dollars.” It is his belief that the Fed will raise rates sooner than you think, and gold has peaked. He has been bullish on Gold since 2003. But on the date of this publication, Research Edge moved forward to a zero-percent position in their gold asset allocation. Their analysis showed immediate-term trade resistance for the price of gold at $1137.

The decade high for the gold was established on Dec. 2, 2009, and McCullough believes Gold may not top that high until the Fed stops raising interest rates. Even though the consensus is that the Fed is on hold until 2012, and they are long on gold. However, McCullough’s research team remains outside of the consensus. McCullough’s team thinks they have some credibility in reversing their own bearish U.S. dollar stand. It was the same team that wrote the dollar thesis earlier, last year.

McCullough stated that Research Edge did not make this prediction for the sake of being contrarian. They made the call because was their belief in the increasing probability of their being right. They even went as far as to sell their position in SPDR Gold Shares and buy the Powershares DB US Dollar Index Bullish in their virtual portfolio. Both of these moves are confirm the same investment thesis. McCullough’s group says “Sell your gold. Buy some dollars, and start moving forward right now."
The rest of this article can be read here.