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Golden Minute Archive - December 2006

12-29-06 -- 2006: Monetary Metals Rule! --LISTEN
Precious metals closed the day and year higher Friday on dollar weakness and higher oil prices. Gold closed in NY up $1.80 to $636.00/oz. while silver rose $.03 to $12.85/oz. The monetary metals jumped out of the closet in 2006, to again outperform the major stock indexes. Gold rose 23% in 2006, while silver rose 45%. It's been a great year, but the best is yet to come in 2007. Happy New Year from Swiss America!

12-28-06 -- Dollar weak, Gold strong! --LISTEN
Precious metal prices rose again Thursday on a weaker dollar and Iran tensions. Gold closed in NY up $6.90 to $634.20/oz. while silver rose $.06 to $12.82/oz. "Gold is set to shine in 2007," reports Fin24, "2006 will be the fifth year of gold's current bull trend, which has seen the price more than double from the 2001 closing price of $278/oz."

12-27-06 -- Dollar Down... Gold Up! --LISTEN
Precious metals rose Wednesday in thin holiday trading on geopolitical tensions and a weaker dollar after the United Arab Emirates said they will diversify 8% of their reserves out of dollars an into euros. Gold closed in NY up $3.50 to $627.30/oz. while silver rose $.16 to $12.76/oz. "If Iran pushes other OPEC producers to accept only the euro for payment of oil, we're in big trouble," says Craig R. Smith.

12-26-06 -- Gold rises as safe haven!--LISTEN
Precious metals closed higher Tuesday in thin holiday trading after oil jumped on news of Iran's nuclear defiance. Gold closed in NY up $4.20 to $623.80/oz. while silver rose $.07 to $12.60/oz. "The Shanghai Gold Exchange today lowered gold trading from one kilogram to just 100 grams to make trading in the precious metal more accessible to small private investors in China."

12-22-06 -- Ho-ho-ho, metals outperform stocks! --LISTEN
Precious metals inched higher Friday in quiet pre-holiday trading after data showing flat U.S. consumer inflation in November. Gold closed in NY up $1.50 to $619.60/oz. while silver rose $.18 to $12.53/oz. Precious metals are poised to again outperform the major stock indexes in 2006, just as they have every year since 2001.

12-21-06 -- Metals ease into the holidays --LISTEN
Precious metal prices eased Thursday in quiet pre-holiday trading after U.S. GDP growth was revised down from 2.2% to 2%. Gold closed in NY off $2.40 to $618.10/oz. while silver fell $.17 to $12.35/oz. Dealers predict metal prices are likely to be volatile, but range-bound for the rest of the year and remain optimistic about the prospects for 2007.

12-20-06 -- Investor gold rush seen in '07 --LISTEN
Precious metals steadied on Wednesday, a day after jumping up on news inflation leaped to a 30-yr high in November. Gold closed in NY off $.70 to $620.50/oz. while silver fell $.07 to $12.52/oz. "2007 may be the year when mainstream investors rediscover hard assets as gold makes headlines that we have not seen for a generation," said Jon Nadler, analyst at Kitco.

12-19-06 -- Metals rise with inflation --LISTEN
Precious metals moved higher on Tuesday after inflation data jumped 2% in November, the biggest rise in over three decades. Gold closed in NY up $6.30 to $621.90/oz. while silver rose $.19 to $12.59/oz. Dealers predict metals are likely to be range-bound for the rest of the year, but are optimistic about the prospects for 2007.

12-18-06 -- Metals: 2006 holiday sale! --LISTEN
Precious metals inched lower Monday after falling last week on a stronger dollar. The dollar shrugged off a record high 3Q deficit of $225.6 billion. Gold closed in NY off $.30 to $614.60/oz. while silver dropped $.36 to $12.45/oz. Bargain hunters returned to the bullion market as the dollar and crude oil prices eased, but traders were wary of fund selling ahead of the year-end.

12-15-06 -- Metals: 2006 blowout sale! --LISTEN
Precious metals fell sharply on Friday after November U.S. CPI data was flat, sparking a firmer dollar. Gold closed in NY off $11.20 to $614.90/oz. while silver dropped $.98 to $12.81/oz. Gold is up 19 percent year-to-date. Silver is up 45 percent year-to-date. Last minute shoppers here is your chance to buy metals at a great price!

12-14-06 -- Gold still to rule in '07 --LISTEN
Precious metals zig-zagged near flatline Wednesday following higher oil prices, but restrained by a stronger dollar. Gold closed in NY off $1.40 to $626.10/oz. while silver added $.07 to $13.79/oz. "In the new year, oil and gold will still rule," according to Outstanding Investments, a top-performing newsletter. "It could be the year gold breaks its 1980 highs."

12-13-06 -- Metals bull: 7-15 years to go --LISTEN
Gold prices inched upward Wednesday, following oil prices higher, but dealers predicted metals would be range-bound for the rest of the year in the absence of clear price triggers. Gold closed in NY up $.40 to $627.50/oz. while silver slipped $.08 to $13.72/oz. "The current commodity bull run could last until 2014-2022," according to commodity expert Jim Rogers.

12-12-06 -- Metals ease ahead of Fed --LISTEN
Precious metals eased lower Tuesday, trading in a tight range ahead of the Fed interst rate meeting results, which traders hope will offer hints about the dollar outlook and determine the metal?s direction. Gold closed in NY off $2.70 to $627.10/oz. while silver slipped $.03 to $13.80/oz. Bargain hunters and physical buyers supported the market which remains vulnerable ahead of Christmas.

12-11-06 -- Metals rise on bargain-hunting--LISTEN
Precious metals inched higher Monday following the dollar's surprise rally last week. Bargain hunters and physical buyers supported metals, with gold closing in NY up $3.00 to $629.80/oz. while silver added $.08 to $13.83/oz. The market which remains vulnerable due to thin trading ahead of Christmas. "Gold is the purest play against the dollar," reports Bloomberg.

12-8-06 -- Buck bounces, metals end lower--LISTEN
Precious metals zig-zagged lower Friday following the dollar's surprise rally after U.S. Treasury Secretary Henry Paulson described today's nonfarm payrolls report as "very, very good news" for the economy. Gold closed in NY down $4.70 to $626.80/oz. while silver shed $.12 to $13.75/oz. For the week gold fell 3%, while silver lost 1.6%.

12-7-06 -- Metals steady, buying op! --LISTEN
Precious metals inched up Thursday after data showing new unemploymentbenefit filings declined sharply last week. Gold closed in NY up $1.10 to $631.50/oz. while silver rose $.30 to $13.87/oz. Traders digested news that the European Central Bank lifted its key interest rate and awaited U.S. data on November non-farm payrolls due out Friday.

12-6-06 -- Metals take a breather, buy! --LISTEN
Precious metals fell nearly 2% Wednesday as a stronger dollar triggered profit taking, while signs of year end book squaring also weighed down. Gold closed in NY down $12.40 to $630.40/oz. while silver fell $.28 to $13.57/oz. "I?m looking for a significant bottom today or tomorrow, followed by a rally above $650 before year?s end," reports Peter Grandich, of the Grandich Letter.

12-5-06 -- Gold a buy under $650 --LISTEN
Precious metal prices drifted lower Tuesday, mirroring a retreat in oil prices as the U.S. dollar regained some lost ground after revised U.S. wage data from the government. Gold closed in NY off $2.40 to $642.80/oz. while silver fell $.20 to $13.85/oz. $60 plus oil prices, the dollar's downtrend and growing global demand are seen supporting the metals.

12-4-06 -- Gold, silver inching up --LISTEN
Precious metal prices inched higher Monday despite a small dollar bounce and lower oil prices. Gold closed in NY up $.10 to $645.20/oz. while silver rose $.08 to $14.05/oz. "If the bad news persists the greenback may be caught in a perfect storm as liquidation will become disorderly and traders dump dollars regardless of price," reports DailyFX.com.

12-1-06 -- Gold crests $650, silver $14 --LISTEN
Precious metals closed mixed Friday after rising sharply on a weaker dollar and higher oil prices this week. Disappointing ISM data ignited a flight to metals, with gold cresting $650/oz. and silver topping $14/oz. Gold closed in NY off $1.50 to $645.10/oz. while silver rose $.06 to $13.97/oz. Gold rose 7 percent in November and is up 28 percent y/y. Silver rose 12 percent last month and is up 67 percent y/y.

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