Swiss America's
Gold News Daily Posted M-F 6pm ET
By DAVID BRADSHAW ~ links ~ offers ~ wisdom
Editor, Real Money Perspectives ~ weekly email
9-2-10 -- "Economic Terror Alert" -Beck -- Listen
Thursday gold prices rose above $1,250/oz. on a flat dollar ahead of Friday's jobs data. Gold last traded up $6.90 to $1,251.30/oz., silver rose $.30 to $19.65/oz. Fox News superstar Glenn Beck issued a "Economic Terror Alert", explaining why people are rushing to gold as a trustworthy shelter, like a golden door frame during an earthquake. He explains brilliantly why gold is our only insurance against a complete collapse of confidence... SEPT. News & Views...
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Latest Special Offers
The Savage Truth About Money
By Michael Savage, Host, The Savage Nation -- I recently asked Craig R. Smith to help my listeners brace for sweeping political and economic changes rushing at us in 2010 and beyond. After talking to Craig, I invited him on the air to explain how to protect against today’s international currency crisis... more...
5 REASONS WHY $1,200/oz. GOLD IS A BETTER VALUE THAN $600/oz.
6.7.10 -- BY Craig R. Smith & David M. Bradshaw -- Recent media warnings about gold prices always seem to arrive right on cue: immediately following new nominal price highs. These gold bears said to forget gold at $500, $750, $1,000 and now $1,200/oz. They have called gold the new "bubble" at each new level and they have been proven wrong each time... more...
DON'T GET HYPNOTIZED BY THE FAKE "RECOVERY"
Political talk is cheap. Believing it can be fatally expensive! By Craig R. Smith -- Recent events have opened our eyes to a brave new world where the institutions we used to trust with our life savings and future security are no longer reliable. Our trust has been broken for many good reasons. Our national debt is growing by $100,000 every three seconds, and politicians ... more...
GOLD'S FUTURE BRIGHT!
Why over 75 experts see $2,200/oz. average gold price ahead ... Do you trust YOUR financial experts advice? Have they grown your hard-earned money during the last year, five years, decade? If so, you are to be congratulated! If not, perhaps you should be listening to different experts. For example, some experts say the gold rush is now over...more...
Latest Feature Commentary
Global Currency Crisis8.10.10 -- Part 1: CBO Fiscal Crisis Alert -- By Craig R. Smith, Chairman, Swiss America If the Fed is telling the truth, gold prices must be lying. The Federal Reserve Board is claiming deflation is the new boogeyman to fear. Yet, if we have such strong deflationary forces at work, the price of gold should have dropped to $800, not run back up near $1200. The sane, thinking world sees inflation ahead...more...
Is the Worst Over?
Or have our financial woes only just begun? 
7.28.10 -- By Craig R Smith, Chairman, Swiss America -- The average person on the street believes the worst of this financial crisis is behind us and the economy and the country are now on the mend. Let's say all is well and we are miles away from the edge of the abyss... more
New Obamacare Scare!
7.23.10 -- Hidden clause set to undermine free enterprise and privacy -- By Craig R. Smith, Chairman, Swiss America -- Welcome to the latest example of the never-ending consequences of Obamacare. In the new Health Care Reform Act, (Patient Protection and Affordable Care Act) Americans face yet another major economic-tax-privacy power grab by government. Section 9006 is the latest attempt to strip Americans of our financial freedom... more
WHERE INVESTORS TURN IN A PANIC
5.7.10 -- By Craig R. Smith -- This week’s market actions show the true vulnerability of the global financial world. Unless you have a strong stomach to riding roller coasters, the slogan, “Sell in May” just may pay. Gold often provides the needed liquidity to cover stock margin calls, but this time was different ... more...
Golden Minute Archives...
9-1-10 -- Gold's "September Song" -- Listen
Wednesday gold prices eased back on profit taking. Gold last traded down $3.00 to $1,244.70/oz., silver fell $.04 to $19.36/oz. Gold's "September Song": "The time has come. Look to the skies. The price of gold is on the rise. In bullish years, on Labor Day, The price of gold becomes in play...The socialists, they shout "unfair." They’re falling with Obamacare. We see the rise of Party, Tea. It's on the side of you and me," writes Howard Katz of thegoldspeculator.com...
8-31-10 -- Metals finish August strong -- Listen
Tuesday gold prices shot toward $1,250/oz. on safe haven buying.
Gold last traded up $11.30 to $1,247.70/oz., silver rose $.36 to
$19.40/oz. Gold prices rose 5.5% in August, silver jumped up 7%.
"Will gold continue to shine?" asks CNBC, as a decade-long bull
market continues to climb a wall of worry. "Yes!" says veteran
gold bug Frank Holmes for more reasons than his short TV segment
allowed him to cover...
8-30-10 -- Outlook for gold "never better" -- Listen
Monday gold prices held steady as stocks fell on economic worries. Gold last traded down $1.70 to $1,236.40/oz., silver fell $.07 to $19.04/oz. "How will gold perform in a double-dip recession?: "As the U.S. economy heads for a double dip it will likely try and inflate itself to avoid a depression. Meanwhile major economies are already diversifying out of the dollar. The big picture for the long-term could not be better for gold," reports Mineweb...
8-27-10 -- Silver runs, Gold walks -- Listen
Friday gold prices see-sawed near $1,235/oz. following remarks by Fed amid
slowing growth. Gold last traded up $1.70 to $1,237.90/oz., silver rose
$.16 to $19.09/oz. For the week silver lead the rush into hard money,
rising 6%, while gold inched up 1%. "Gold is its own money, and no
government can print or inflate it. Historically when paper money's
value evaporates, gold rapidly gains in relative value," writes Swiss
America Chairman Craig R. Smith in a
new special report... <
Weekly Economic News SummaryAug 13-27: Chairman Bernanke said the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly. His remarks came on August 27, shortly after the government said the economy slowed sharply in the second quarter to a 1.6 percent pace. New U.S. single-family home sales unexpectedly fell in July to set their slowest pace on record, government data showed on Wednesday. The Commerce Department said sales dropped 12.4% to a 276,000 unit annual rate, the lowest since the series started in 1963. Meanwhile, sales of previously owned homes dropped 27% in July to their slowest pace in 15 years. The Investment Company Institute released a report this week, indicating investors withdrew a staggering $33.12 billion from domestic stock market mutual funds in the first seven months of this year. If that pace continues, more money will be pulled out of these mutual funds in 2010 than in any year since the 1980s, with the exception of 2008, when the global financial crisis peaked.
8-26-10 -- Silver-to-gold ratio falling -- Listen
Thursday gold prices eased below $1,240/oz. as investors digested economic data. Gold last traded down $3.70 to $1,236.30/oz., silver fell $.01 to $18.93/oz. Silver is 'Looking Cheap' reports Bloomberg: "The ratio of gold to silver dropped to a three-week low after gold's rally to the highest level in eight weeks prompted some investors to buy the white metal...which is both a precious metal and industrial metal." ...
8-25-10 -- Gold creates investor confidence -- Listen
Wednesday gold prices rose to $1,240/oz. on safe haven buying and a weaker dollar. Gold last traded up $9.70 to $1,240.00/oz., silver rose $.56 to $18.94/oz. "Global Economic Fears Push Investors Out of Stocks" says WSJ. "If people had confidence, they wouldn't be pouring money into Treasurys yielding nothing, and paying over $1,200 for an ounce of gold," said Morris Mark, president of Mark Asset Management. "There's a concern here that the strength of the world economy is not going to be able to get us out of this" ...
8-24-10 -- Gold: world's best anti-dollar -- Listen
Tuesday gold prices rose near $1,230/oz. on safe haven buying as stocks fell on housing worry. Gold last traded up $4.50 to $1,230.40/oz., silver rose $.39 to $18.38/oz. "Gold is a currency whose daily price is a gauge of the market's concern about the potential diminishment of the purchasing power of the dollar and other paper currencies," says Paul Brodsky, of QB Asset Management. If he is correct... longer-term weakening of the dollar is the real issue for the gold market, not inflation or deflation," reports WSJ...
a href=http://media.swissamerica.com/features/mp3/20100823014358.mp3>8-23-10 -- Metals: "Accelerated trend phase" ahead -- Listen
Monday gold prices eased near $1,225/oz. on profit taking amid market volatility on Wall Street. Gold last traded down $2.20 to $1,225.80/oz., silver fell $.03 to $17.99/oz. "An analysis of our current economic environment indicates that the ongoing increase in precious metals has only just begun and should ensure a sustainably positive environment for gold and silver," reports reports Ronald-Peter Stöferle of Erste Group Bank, Vienna, Austria, who forecasts "accelerated trend phase" with $3k-10k/oz. gold and $75-$650/oz. silver ahead...
8-20-10 -- Metals steady amid rising uncertainty -- Listen
Friday gold prices ended the week just below $1,230/oz. on profit taking
and firmer dollar. Gold last traded down $4.40 to $1,228.00/oz., silver
fell $.29 to $18.02/oz. Gold prices closed the week up 1%, while silver
prices dipped 1%. Ongoing economic worry is supporting precious metal
prices as the summer draws to an end. September has been the best month
of the year to buy gold, averaging 12.4% growth during the seasonal
rallies, according to researchers at Mineweb.com...
AUGUST News & Views...
Weekly Economic News SummaryAug 16-20: This week concerns about economic growth weighed on investor sentiment. The blue-chip index ended in negative territory for the week, month and year. "There seems to be a structural change in the American economy. The relationship of household debt to income has proven unsustainable. The ratio is normally established somewhere below 100%, but in 2007 the debt ratio hit 131% of income. It has now fallen to 122%, but at this pace it would take another five years to bring it under 100%. Thursday economic reports showed that weekly jobless claims rose to a nine-month high and manufacturing in the Philadelphia region contracted. The Hindenburg Omen -- a technical indicator of an impending stock market crash -- has reared its head for a second time within a month. Tuesday the government reported producer prices rose for the first time in four months, while industrial production rose more than expected. The Fed's cheap money, or near-zero interest rates, after having failed to inspire much lending and borrowing from banks and consumers, is for sure leading investment banks and hedge funds to make big bets on such things as gold. Russia has announced that it will start loading uranium fuel into the nuclear reactor of the Bushehr nuclear power station in Iran on August 21, a spokesman for Russia's state atomic cooperation told Reuters Friday. more...
8-19-10 -- Gold rises as markets fall -- Listen
Thursday gold prices rose above $1,230/oz. as investors sold stocks on downbeat data. Gold last traded up $2.10 to $1,231.40/oz., silver fell $.08 to $18.31/oz. "Economic reports released today showed that weekly jobless claims rose to a nine-month high while manufacturing contracted. The reality of the current recovery is that more sectors of the economy remain weak than are expanding," reports Marketwatch ...
8-18-10 -- Cheap money policy driving gold up -- Listen
Wednesday gold prices rose above $1,225/oz. on bargain hunting and
a weaker dollar. Gold last traded up $4.70 to $1,229.40/oz., silver
fell $.15 to $18.38/oz. "Hot money in inflation mode," reports Marketwatch.
"Tuesday producer prices rose for the first time in four months. The
Fed's cheap money, or near-zero interest rates is leading investment
banks and hedge funds to make big bets on gold." ...
8-17-10 -- Fed money pump supports gold buying -- Listen
Tuesday gold prices held near $1,225/oz. on a weaker dollar, safe haven buying. Gold last traded down $.30 to $1,225.20/oz., silver rose $.12 to $18.53/oz. "Investors were buying stocks but kept gold as a hedge against risk. The Federal Reserve will begin buying U.S. Treasuries today, which was
part of a plan announced last week to help pump money into the economy
....setting the stage for a supportive gold buying environment," reports TheStreet...
8-16-10 -- China buys less dollars, more gold -- Listen
Monday gold prices rose to $1,225/oz. on economic uncertainty, safe
haven buying. Gold last traded up $10.10 to $1,225.50/oz., silver
rose $.27 to $18.41/oz. "China is voting its views on America's
economy with its own pocketbook as the Chinese are starting to
invest more in Europe and Japan and less in the U.S because
they believe it's a safer investment," reports CBNNews...
8-13-10 -- Uncertainty lifts gold to 6-week high -- Listen
Friday gold prices closed above $1,200/oz. for a 2nd straight week on economic
uncertainty despite a firmer dollar. Gold last traded up $1.90 to $1,215.40/oz.,
silver rose $.09 to $18.14/oz. "Renewed concerns over the growth of the U.S.
and global economies are back to the forefront of traders’ minds and safe-haven
plays are likely to continue to lift gold prices next week. Barclays Bank said
gold is comfortable wearing its currency hat," reports KitcoNews ...
Weekly Economic News SummaryAug 8-13: This week the Federal Reserve decided to reinvest proceeds from the more than $1.3 trillion in mortgage-related debt the Fed holds into Treasury securities, as opposed to reinvestment into mortgage-backed debt. The effort to keep market-set borrowing costs down by buying more government debt represents a significant policy shift and was a surprising move. The U.S. dollar slid to a 15-year low against the yen, dragged down by the anemic recovery in the world's biggest economy. With the Fed whispering deflation, the markets are preparing for inflation, with stocks falling and gold holding recent gains. On Friday, stocks slid into fourth day, falling nearly 4% on the week as latest batch of economic data fails to bolster investor sentiment. "The US economy is almost certainly headed back into a double dip recession, and economists aren't seeing it because they're using the old rules of thumb that don't apply this time," well-known economist David Rosenberg told CNBC. more...
8-12-10 -- Economists Finally Agree on Something -- Listen
Thursday gold prices shot over $1,200/oz. on a flat dollar, investor dip buying. Gold last traded up $15.60 to $1,213.50/oz., silver rose $.17 to $18.05/oz. News Flash: Economists Finally Agree on Something: Stop Government Spending, Stimulus! "30 out of 48 economists said the economy doesn't need any more fiscal or monetary stimulus. "The economy needs government to get out of the way," said Stephen Stanley of Pierpont Securities," reports WSJ...
8-11-10 -- Gold steady, currency war to end in tears -- Listen
Wednesday gold prices steadied near $1,200/oz. despite a sharply stronger dollar
as global fears sunk stocks. Gold last traded down $5.50 to $1,198.30/oz., silver
fell $.41 to $17.90/oz. "The conflict currently among major global currencies
marks a failure of political statesmanship... and can only end in tears. Gold and the
commodity complex will provide an immediate financial hedge," reports
BusTimes...
8-10-10 -- Gold rises after Fedspeak -- Listen
Tuesday gold prices rose above $1,200/oz. on a weaker dollar after the
Fed signals further easing. Gold last traded up $2.60 to $1,203.80/oz.,
silver fell $.02 to $18.31/oz. "This Fed meeting will ultimately be seen
as a clear signal to buy gold and lots of it. Even Joe Terranova on
CNBC, after reading and deciphering the Fed statement,
said he bought gold today," writes Swiss America Chairman Craig R. Smith ...
8-9-10 -- Gold relaxes, silver ready to rise -- Listen
Monday gold prices held near $1,200/oz. on a firmer dollar ahead of
Fedspeak on Tuesday. Gold last traded down $4.50 to $1,201.20/oz.,
silver fell $.13 to $18.33/oz. "Why isn't silver receiving the same
attention as gold? Silver is still in stage one of its bull market,
while gold is already in stage two. Bull market first stages are
always marked by apathy....and disbelief that any uptrend is sustainable,"
reports James Turk at GoldMoney ...
8-6-10 -- Gold rushes atop $1,200 -- Listen
Friday gold prices shot to a 3-week high above $1,200/oz. on safe haven buying
after downbeat jobs data. Gold last traded up $10.50 to $1,205.40/oz.,
silver rose $.12 to $18.46/oz. "The greenback fell as much as 1.1%
after a payroll report signaled the U.S. will be slow in recouping
jobs lost in the recession. 'The dollar is getting odious compared
to the euro,' said Frank McGhee, of Integrated Brokerage Services," reports Bloomberg...
8-5-10 -- China Gold Rush Ahead -- Listen
Thursday gold prices hovered below $1,200/oz. ahead of a key jobs report
on Friday. Gold last traded down $.70 to $1,194.90/oz., silver rose $.06
to $18.34/oz. "The central bank said China would 'actively push forward the
building of infrastructure for gold trading and reserves to fend off disasters' as well as improving storage and transportation systems and settlement services," reports AFP ...
8-4-10 -- $1,200 gold: the new normal? -- Listen
Wednesday gold prices shot up near $1,200/oz. on bargain hunting
and a weak buck. Gold last traded up $10.00 to $1,195.60/oz., silver fell $.09 to $18.28/oz. "Investors bought gold as a safety net as worries
surfaced about a weak U.S. unemployment report Friday," reports TheStreet.
Is it "Time to Quit Your Old 401(k)s?" asks WSJ. "When changing employers,
many workers leave money in the old retirement plan. But moving the
dollars to an IRA might be a better deal." ...
8-3-10 -- Gold inches toward $1,200/oz., China demand -- Listen
Tuesday gold prices rose above $1,185/oz. on bargain hunting, dollar
falls to 4-month low. Gold last traded up $4.00 to $1,186.00/oz.,
silver rose $.03 to $18.38/oz. "China will allow more domestic banks
to export and import gold as part of steps to encourage more liquid
trade, which could underpin the country's growing private demand for
the precious metal. China is the world's largest producer of gold
and second largest consumer of the metal after India," reports Reuters...
8-2-10 -- Investors buy gold for protection & profit -- Listen
Monday gold prices zig-zagged on profit taking vs. bargain hunting as the dollar slides. Gold last traded up $.60 to $1,182.00/oz., silver rose $.38 to $18.35/oz. "Asian investors
are more likely to buy gold in the next six months than their North American and European counterparts, a global survey found. Among investors who said they would buy gold in the
next six months, 47% said they would invest gold to protect their wealth, and 53% said they intended to profit from gold investments," reports Mineweb...
7-30-10 -- Metals: Best performing assets -- Listen
Friday gold prices shot up over 1% on bargain hunting and weak buck.
Gold last traded up $14.90 to $1,181.40/oz., silver rose $.25 to $17.97/oz.
Gold prices ended July down 5% after touching a 2010 high of $1,260/oz. in June.
"Gold best performing asset class over 6 months, 1, 3, 5 and 10 years":
"Over the past ten years gold's annual return has been 14.3% in sterling terms,
compared with 5.9% pa from bonds, 1.6% in cash and just 1.2% in real estate.
Equity returns were negative," reports Mineweb...
7-29-10 -- Metals bottom in summer like clockwork -- Listen
Thursday gold prices rose above $1,165/oz. on bargain hunting and a weaker
dollar. Gold last traded up $3.20 to $1,166.50/oz., silver rose $.25 to $17.72/oz.
"The fundamentals haven’t reversed for gold so I’m confident that smart
money isn’t selling its gold, it's using this dip to accumulate.
Like clockwork, gold invariably puts in a major bottom in July or
August before the run up into the strong fall season," reports Minyanville ...
7-28-10 -- Is the financial crisis over yet? -- Listen
Wednesday gold prices inched above 3-month lows on bargain hunting following a technical sell off. Gold last traded up $1.30 to $1,162.90/oz., silver fell $.16 to $17.48/oz. "Those who believe the worst of the financial crisis is behind us and all is well may be right. But it will be short lived. When the next crisis comes, will you be prepared? When inflation and debasing of currencies hits, $1,200/oz. gold will look like a bargain," writes Swiss America Chairman Craig R. Smith...
7-27-10 -- Metals dip to 3-month low, BUY! -- Listen
Tuesday gold prices dipped to 3-month lows on short term profit taking,
upbeat housing data. Gold last traded down $21.00 to $1,160.10/oz.,
silver fell $.52 to $17.66/oz. "Gold prices fell 2% on weak consumer
confidence data and heavy technical selling triggered by an option
expiration. Traders try to profit from their bets when options are
about to expire," reports Reuters...
7-26-10 -- Metals are trustworthy money -- Listen
Monday gold prices dipped below $1,185/oz. on profit taking. Gold last traded
down $7.60 to $1,182.10/oz., silver rose $.06 to $18.18/oz. "The world's thirst
for gold coins has risen more than sovereign government mints can quench it,
with demand on track this year to outpace 2009. Gold's growing investment allure
is based on fears of currency debasement, inflation, a debt debacle in Europe,
and rising US debt levels," reports Marketwatch...
7-23-10 -- Fin Reform: From salesmanship to stewardship -- Listen
Friday gold prices drifted below $1,200/oz. on upbeat Eurozone bank stress
results. Gold last traded down $6.00 to $1,188.70/oz., silver fell $.01 to $18.10/oz.
"True reform of our financial markets will not be found until our nation's financial
professionals turn their focus away from salesmanship and embrace stewardship
their profession demands," reports John Bogle, founder of The Vanguard Group...
7-22-10 -- Golden expectations rising in 2011 -- Listen
Thursday gold prices bounced back toward $1,200/oz. on bargain hunting and a weaker dollar.
Gold last traded up $8.40 to $1,194.50/oz., silver rose $.43 to $18.11/oz.
"Gold prices are set to mark an eleventh year of gains in 2011 as investors
seek refuge from an uncertain global economic outlook .A poll of 55 analysts
and traders showed expectations for gold prices in 2011 have risen by nearly
7% to a median $1,228 an ounce," reports Reuters...
7-21-10 -- Obama's Secret Attack on Gold-- Listen
Wednesday gold prices dipped after a downbeat Fed outlook sent markets
lower. Gold last traded down $6.10 to $1,186.10/oz., silver fell $.02
to $17.68/oz. It appears a secret provision was slipped Into Obamacare:
"A scarcely noticed tack-on provision to the healthcare legislation
that puts gold coin buyers and sellers under closer government scrutiny.
Rep. Daniel Lungren, R-Calif., has introduced legislation
[H.R. 5141] to repeal this provision," reports
ABCNews...
7-20-10 -- You can't keep a good metal down! -- Listen
Tuesday gold prices rebounded from 2-month lows on bargain hunting. Gold last
traded up $8.10 to $1,192.20/oz., silver rose $.09 to $17.70/oz. "Lingering
uncertainties surrounding the global economic recovery and waning risk appetite
underpinned gold prices, triggering buying at every dip. Gold prices rallied
to an all-time nominal high above $1,260 in mid-June," reports RTTNews ...
7-19-10 -- Gold bullishness on vacation -- Listen
Monday gold prices touched 2-month lows on profit taking, smart money buying dips. Gold last traded down $8.90 to $1,184.10/oz., silver fell $.25 to $17.61/oz. "Does this period of [gold's] complacency indicate a major move upward in the near future? Maybe. A year ago, volume was very anemic just prior to gold skyrocketing upward. Perhaps accumulating positions slowly during this time of complacency is a sound strategy," reports SeekingAlpha ...
7-16-10 -- Smart money buys $500 million in gold -- Listen
Friday gold prices fell below $1,200/oz. amid a broad market sell-off. Gold last traded down $16.30 to $1,192.10/oz., silver fell $.47 to $17.86/oz. Both metals slipped 1.6% for the week. The Dow fell 2.5% Friday. "Fearing unstable international financial markets and the possibility of high inflation, Texas' higher education investment managers have bought more than $500 million in gold....indicating how deeply the fund managers are concerned about the global financial future," reports HoustonChron...
7-15-10 -- Gold stands up to "legislative monster" -- Listen
Thursday gold prices held above $1,200/oz. on a weaker dollar and market
uncertainty. Gold last traded down $.10 to $1,208.40/oz., silver rose $.05 to $18.33/oz. Congress on Thursday passed the stiffest restrictions on banks and Wall Street since the Great Depression. Sen. Richard Shelby, R-ala., who worked with Sen. Dodd on the bill, denounced it as a "legislative monster," reports AP ...
7-14-10 -- Metals vs. The Mattress Economy -- Listen
Wednesday gold prices held above $1,200/oz. as investors were sidelined by market uncertainty. Gold last traded down $2.80 to $1,208.50/oz., silver rose $.03 to $18.28/oz. "Government policies designed to stimulate the economy seem to be having the opposite effect. Consumers aren't buying, businesses aren't hiring, and those fortunate enough to have some cash on hand don't seem to be investing. I call it the mattress economy," reports Townhall.com ...
7-13-10 -- Gold's next leg up -- Listen
Tuesday gold prices shot over $1,200/oz. as a weaker dollar boosted stocks and commodities. Gold last traded up $15.50 to $1,212.60/oz., silver rose $.34 to $18.25/oz. "Recent lower gold prices rekindled demand from physical buyers and Portugal's debt downgrade brought back fears of a European demise. 'I think this could be the beginning of the next leg up,' said Matt Zeman, a trader at LaSalle Futures Group in Chicago to Marketwatch...
7-12-10 -- $1,200 gold a value, silver run ahead -- Listen
Monday gold prices held near $1,200/oz. ahead of key global economic data this week. Gold last traded down $14.30 to $1,197.10/oz., silver fell $.24 to $17.91/oz. "While gold's meteoric rise still has room to run, silver's run is yet to get started. Now is the time to buy all things silver. History will look back at the artificially high silver to gold ratio of the past century as an anomaly, caused by the dollar bubble," reports 24hgold ...
7-9-10 -- Gold Fever? Get Educated! -- Listen
Friday gold prices closed above $1,200/oz. on value and bargain hunting. Gold ended up $12.90 to $1,211.40/oz., silver rose $.19 to $18.15/oz. "You don't have to be an economist to see that the factors inflating the price of gold aren't likely to change anytime soon. Modern-day gold fever also has brought the possibility of shenanigans. Those planning to purchase precious metals ought to become knowledgeable about the game," reports NewTimes. [Ed. Note: Visit our gold fraud alert for "5 Steps Before Buying or Selling Gold"] ...
7-8-10 -- Gold jumps 32% since last July -- Listen
Thursday gold prices dipped below $1,200/oz. as upbeat unemployment news boosted stocks. Gold last traded down $4.70 to $1,198.50/oz., silver fell $.10 to $17.96/oz. "European sovereign risk and inflows into gold ETFs have been the main drivers of stronger gold prices in 2010. We expect U.S. dollar weakness will be the catalysts for $1,450/oz. gold in 2011 and $1,600/oz. in 2012," said Jorge Beristain, Deutsche Bank analyst to Fortune...
7-7-10 -- Why metals are shining -- Listen
Wednesday gold prices rebounded above $1,200/oz. on bargain hunting. Gold last traded up $9.10 to $1,203.20/oz., silver rose $.22 to $18.06/oz. "Gold set to shine as dollar flood fuels double-dip recession," says London Telegraph. "More than 50% of America’s money supply has been created in just four years, leading gold bugs to argue that marginal softening in bullion prices represents a buying opportunity." ...
7-6-10 -- Gold dips amid new culture war -- Listen
Tuesday gold prices dipped below $1,200/oz. on profit taking as stocks rebounded from a recent sell off. Gold last traded down $14.80 to $1,194.10/oz., silver rose $.03 to $17.84/oz. I read a great book over the 4th holiday, "THE BATTLE": Here's a quote -- "America faces a new culture war. A struggle between the traditional American culture of free enterprise and the current drifts toward a European-style social democracy," writes Arthur C. Brooks, president of AEI video link ...
7-2-10 -- Smart investors buy gold's dip -- Listen
Friday gold prices bounced back over $1,200/oz. on bargain hunting ahead of July 4th holiday. Gold last traded up $10.90 to $1,210.30/oz., silver fell $.03 to $17.73/oz. "With the threat of a double-dip recession in the near future, investors should position their portfolios to protect themselves from another downturn. In times of uncertainty, many investors turn to gold. "It's an insurance policy against bad government policies," reports USNews&WR ...
7-1-10 -- Hard Money: 4th of July Sale! -- Listen
Thursday gold prices fell over 3% as jobs/China/euro-worry sunk stocks and commodities. Gold last traded down $40.30 to $1,201.10/oz., silver fell $.81 to $17.81/oz. "An early equities sell-off triggered heavy fund selling, fueling the biggest one-day decline in gold prices in five months. Disappointing U.S. and Chinese economic data drove a major slide in oil and the dollar, as investors cashed in profits in the best-performing major asset of the second quarter," reports Reuters ...
6-30-10 -- Gold +12%, Dow -10% in Q2 -- Listen
Wednesday gold prices ended June above $1,240/oz., rising 12% in the 2nd quarter, as the Dow slid 10%. Gold last traded up $1.60 to $1,242.40/oz., silver rose $.11 to $18.62/oz. "The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency. A new global reserve system could be created, one that no longer relies on the U.S. dollar as the single major reserve currency" said the U.N. World Economic and Social Survey 2010," reports Reuters ...
6-29-10 -- Investors flee to safe havens -- Listen
Tuesday gold prices held near $1,240/oz. as investors dumped stocks for safer assets. Gold last traded up $2.20 to $1,240.80/oz., silver fell $.25 to $18.51/oz. "There is a perfect storm for gold. The metal has become the ultimate currency, as few want to commit to the euro, pound or yen. And while the U.S. dollar may be the best of a weak lot, it also holds little appeal," said Bill O’Neill, former head of commodity research at Merrill Lynch to CNBC ...
6-28-10 -- Metals shine bright in 2010 -- Listen
Monday gold prices zig-zagged below $1,250/oz. as a turbulent quarter nears end. Gold last traded down $16.80 to $1,238.90/oz., silver fell $.32 to $18.78/oz. Despite month and quarter-end speculative profit-taking Monday, precious metals are on course for a stellar 2nd quarter, with gold prices rising over 12% and silver prices up over 9%. Year-to-date gold prices are up 13% with silver close behind at 12% ...
6-25-10 -- Gold pops back above $1,250/oz. -- Listen
Friday gold prices shot above $1,250/oz. on safe haven and value buying amid recovery worries. Gold last traded up $12.30 to $1,255.70/oz., silver rose $.42 to $19.10/oz. "Gold popped higher on technical trading and signs that the U.S. economy is slowing, which prompted another flight to safety. Part of gold's move Friday was short covering and book squaring, which ramped up as the second-quarter closes," reports TheStreet ...
6-24-10 -- Gold's summer rally about to get hot -- Listen
Thursday gold prices rose toward $1,250/oz. on bargain hunting.
Gold last traded up $5.20 to $1,242.50/oz., silver rose $.18 to $18.69/oz.
"Investors opted out of stocks and into gold amid weak economic data and
the end of the second quarter. Initial jobless claims last week fell slightly, but the persistently high number underscores the fragility of the U.S. economic recovery and dampens any investor optimism," reports The Street ...
6-23-10 -- Gold: leading economic indicator -- Listen
Wednesday gold prices steadied near $1,235/oz. amid growing economic and housing recovery worries. Gold last traded down $1.30 to $1,237.40/oz., silver fell $.29 to $18.51/oz. "A surge in gold investments is a leading indicator of trouble ahead for the economy. Historically it is a signal that stock markets are on shaky ground. And when the markets are shaky, national economies are standing on quick sand," reports Examiner ...
6-22-10 -- Merrill Lynch bullish on metals -- Listen
Tuesday gold prices rebounded on bargain hunting after dipping nearly 2% Monday on profit taking. Gold last traded up $6.00 to $1,238.60/oz., silver rose $.09 to $18.81/oz. "Merrill Lynch metals analysts Michael Widmer, Francisco Blanch, and Alex Tonks maintain gold will hit a $1,500/oz. target by the end of next year as investor demand pushes gold and silver prices higher," reports Mineweb ...
6-21-10 -- Currency crisis drives gold rush -- Listen
Monday gold prices climbed to fresh highs early then dipped nearly 2% on profit taking. Gold last traded down $23.90 to $1,232.60/oz., silver fell $.45 to $18.72/oz. "If there is any theme to the bullion rush, it is fear that the global currency system is unravelling. Or, put another way, gold itself is reclaiming its historic role as the ultimate safe haven and benchmark currency," reports London Telegraph ...
6-18-10 -- Metals surf safe-haven buying wave -- Listen
Friday gold prices climbed to fresh highs on safe haven and momentum buying. Gold closed up $11.30 to $1,256.50/oz. for a 2.3% weekly gain, silver rose $.44 to $19.17/oz., leaping 5%! "Gold is looking for any and every opportunity to go higher, and we all know the reasons why -- the safe-haven factor, sovereign debt risks and so on. The mood is with gold right now, the momentum is with gold," said Peter Hillyard, head of metals sales at ANZ Investment Bank to Reuters ...
6-17-10 -- Confidence-building gold rises -- Listen
Thursday gold prices climbed toward $1,250/oz. on bargain hunting and growing economic concerns. Gold last traded up $14.70 to $1,245.20/oz., silver rose $.26 to $18.73/oz. "Gold alone protects assets from economic crises because it is now the world's ultimate store of value, which creates investor confidence -- while paper assets depend upon confidence. The #1 reason to own gold today is safety, #2 liquidity, #3 growth," says Swiss America Chairman Craig R. Smith...
6-16-10 -- $3,000 gold no cause for celebration -- Listen
Wednesday gold prices eased to $1,230/oz., stocks ended flat on an
uncertain outlook. Gold last traded down $3.90 to $1,230.50/oz.,
silver fell $.07 to $18.47/oz. "Gold could get to $3,000/oz. in
the next two years, but, such a move is no cause for celebration,"
reports Mineweb. One critical factor driving gold is the negative
return on risk-free capital...
6-15-10 -- Markets cheer euro stabilization -- Listen
Tuesday gold prices rose near $1,235/oz. on bargain hunting as the markets cheered euro stabilization. Gold last traded up $13.00 to $1,234.40/oz., silver rose $.34 to $18.54/oz. "Investor risk appetite decreased due to the downgrade of Greek government debt to junk, downbeat U.S. homebuilder sentiment and ongoing concern about the euro zone debt crisis, all helped push gold up," reports Reuters...
6-14-10 -- Four-digit gold: the new norm -- Listen
Monday gold prices dipped below $1,225/oz. on profit taking as Greek
bonds downgraded to junk. Gold last traded down $5.90 to $1,221.40/oz.,
silver fell $.02 to $18.20/oz. "A specter of concerns has set off a dash
to gold, driving the precious metal to new highs and illustrating how
fears of economic turmoil have moved from the fringe to the mainstream.
The deeper concern is that U.S. government borrowing is unsustainable,"
reports NY Times...
6-11-10 -- Investors seek safety, buy gold -- Listen
Friday gold prices rose above $1,225/oz. on bargain hunting.
Gold last traded up $9.80 to $1,227.50/oz., silver fell $.02 to $18.22/oz.
Gold ended at a new all-time record high weekly close, after testing
$1,250/oz. on Monday. Stocks closed higher despite
a disappointing drop in consumer spending, but remain down 2% ytd. For the year, gold is shining brightest with a 20% gain, silver has climbed 7.5% ytd...
6-10-10 -- Gold confounds the wise -- Listen
Thursday gold prices eased below $1,220/oz. on profit taking. Gold last traded down $15.40 to $1,217.70/oz., silver rose $.17 to $18.24/oz. "Fed Chairman Ben Bernanke says he's a bit puzzled by surging gold prices. The 30% rally from a year ago, on top of gains in previous years, might be interpreted as a loud signal from markets that big inflation pressures are building in the U.S.," reports WSJ...
6-9-10 -- Gold takes well deserved breather -- Listen
Wednesday gold prices eased back from recent new highs on profit taking amid Fed-inspired relief rally. Gold last traded down $1.70 to $1,233.10/oz., silver fell $.19 to $18.10/oz.
"Gold's surge to a record sparked speculation that central banks may be stepping up purchases of the precious metal. This is a beginning. Gold is reflecting so many things that could possibly go wrong," reports WSJ...
6-8-10 -- GOLD TOPS $1,250! -- Listen
Tuesday gold prices topped $1,250/oz. on safe haven buying amid market fears, then eased on profit taking. Gold last traded down $5.50 to $1,234.80/oz., silver rose $.14 to $18.29/oz. "Gold reflects governments' deceitful actions in destroying paper money. At certain points gold is a commodity. Right now it's money." said Egon von Gruyerz, founder of GoldSwitzerland.com. Von Gruyerz sees the dollar collapsing, as well as many other currencies. "You can only measure the value of currencies now against gold because gold has an absolute value," he told CNBC...
6-7-10 -- Investors sell stocks, buy gold -- Listen
Monday gold prices shot up toward 2010 highs on safe haven
buying amid a "slow crash" on Wall St. Gold last traded up
$21.20 to $1,241.20/oz., silver rose $.77 to $18.18/oz.
Warnings about gold prices always seem to arrive following
new nominal price highs. Gold bears have called gold
the new "bubble" at each new price level and have been
wrong each time," according to a new Swiss America Special Report...
6-4-10 -- Gold rises, stocks fall (get used to it!) -- Listen
Friday gold prices rose 1% to $1,220/oz. on bargain hunting and safe haven buying amid stock market volatility. Gold last traded up $12.20 to $1,220.00/oz., silver fell $.54 to $17.37/oz.
For the week gold prices inched ahead .5% as short-term speculators took profits and bargain hunting investors bought safe havens. Meanwhile, silver slipped over 5% amid global economic growth worries...
6-3-10 -- Gold vs. Obama's "new foundation" -- Listen
Thursday gold prices held above $1,200/oz. on short-term profit taking.
Gold last traded down $16.20 to $1,207.80/oz., silver
fell $.39 to $17.95/oz. A year after pledging to build a "new foundation"
for American growth yesterday President Obama took credit for stopping a
global depression, for socializing health care and, soon, for "sweeping
reforms" to protect Main Street from Wall Street. Sadly, Mr. Obama's
"new" economic order is based on discredited socialist policies ...
6-2-10 -- Gold steady, no price ceiling -- Listen
Wednesday gold prices held near $1,225/oz. amid volatile stock
and commodity prices. Gold last traded down $1.70 to $1,223.40/oz.,
silver fell $.07 to $18.34/oz. "I firmly believe we're witnessing
a great primary bull market in gold. I believe in our lifetimes
we will see the end of fiat currencies. When that happens, there
will be no ceiling for gold," writes Richard Russell editor of Dow Theory Letters...
6-1-10 -- Why metals represent true value -- Listen
Tuesday gold prices rose near $1,225/oz. amid volatile stock and commodity prices. Gold last traded up $8.90 to $1,225.10/oz., silver fell $.15 to $18.41/oz. "You probably think gold is in a bubble. After all, it has pretty much quintupled since its lows of 2001. But look at the actual price of gold and it is hard to see real evidence of a bubble. Gold may have hit new highs in nominal terms, but it hasn’t come close to hitting its old highs in real terms," reports FT...
5-28-10 -- May: gold shines, stocks wilt -- Listen
Friday gold prices rose firmly above $1,200/oz. in thin pre Memorial
Day holiday trading. Gold last traded up $1.90 to $1,213.90/oz.,
silver fell $.11 to $18.40/oz. Bargain hunting investors bought
precious metals this week, sending gold prices up 3% and silver
up over 4%. For the month gold rose 3%, silver slipped 1% and the Dow fell 8%. Given the rising level of stock market volatility, metals have
again shown to be trustworthy safe havens amid the ongoing
financial storm...
5-27-10 -- Metals rise above crises -- Listen
Thursday gold prices held above $1,200/oz., silver and stocks bounce.
Gold last traded up $1.40 to $1,212.00/oz., silver rose $.46 to $18.51/oz.
"Gold should be viewed not as a commodity, but as a cash supplement.
There's been such proliferation of currency, gold is very undervalued.
$36,000 an ounce gold is not as ridiculous as it might sound," said
Ben Davies, CEO of Hinde Capital to CNBC...
5-26-10 -- Gold outlook very, very strong -- Listen
Wednesday gold prices rose above $1,200/oz. as investors sought safe
havens amid market volatility. Gold last traded up $9.40 to $1,210.60/oz., silver rose $.10 to $18.05/oz. "Gold is one of the more mysterious assets in the financial markets and one of the best investments, outlasting the equity bull market and performing well when so many assets have succumbed to big declines. That's why it's become a key component among the strategies of the world's largest money managers. The outlook for gold is very, very strong," reports Mineweb ...
5-25-10 -- Safe haven gold steadies at $1,200 -- Listen
Tuesday gold prices approached $1,200/oz. as investors bought safe havens amid
global stock and commodity volatility. Gold last traded up $7.00 to $1,199.30/oz.,
silver fell $.02 to $17.87/oz. "Global conditions today could unleash another
gold boom like the one in the 1970s. Then, as now, the world lost confidence
in the U.S. dollar as a store of value. How far would gold rise if that
happened again? To around $6,300 an ounce," reports
WSJ...
5-24-10 -- Smart money buys gold dip -- Listen
Monday gold prices rose over 1% as investors bought safe havens
amid stock and currency market volatility. Gold last traded up
$14.60 to $1,191.60/oz., silver rose $.27 to $17.91/oz. Bargain
hunters scooped up the precious yellow metal anew, taking advantage
of last week's 4.5% price dip. "The fear trade was back on as the
euro headed toward its four-year low and gold became more appealing
as a form of money that keeps its value," reports TheStreet...
5-21-10 -- Safest haven in the storm -- Listen
Friday gold prices held near $1,175/oz. as stock/commodity price
correction took a breather. Gold last traded down $6.00 to
$1,177.00/oz., silver rose $.01 to $17.64/oz. For the week
gold prices slipped 4.5%, while silver prices slid nearly 9%.
Given the level of stock market volatility, touching panic
levels on Thursday, gold has again shown to be a trustworthy
safe haven in the ongoing financial storm...
5-20-10 -- Gold slips, stocks tumble -- Listen
Thursday gold prices held below $1,200/oz. as EU angst prompted a
global stock and commodity selloff. Gold last traded down $8.40 to
$1,183.00/oz., silver fell $.57 to $17.63/oz. Stocks logged their
biggest drop of the year. "Sentiment is awful and confidence has
been trashed," reports AP. "Calls for lower gold prices arrive like
clockwork just after gold prices hit new nominal highs...Gold bears
have been proven wrong now for a decade," writes Swiss America Chairman
Craig R. Smith...
5-19-10 -- Gold dips below $1,200, buy! -- Listen
Wednesday gold prices fell below $1,200/oz. as short-term profit
taking outpaced bargain hunting. Gold last traded down $31.60 to
$1,191.40/oz., silver fell $.79 to $18.20/oz. "Gold tumbled to the
lowest level in 2 weeks as its recent rally prompted some investors
to lock in gains and free cash to cover losses in other assets.
'Gold could rise above $1,500 an ounce,' said Michael Widmer,
strategist with Bank of America Merrill Lynch," reports Bloomberg ...
5-18-10 -- Six reasons to buy gold now -CNBC -- Listen
Tuesday gold prices held near $1,225/oz. as bargain hunting buyers
faced short-term profit takers. Gold last traded down $1.10 to
$1,223.00/oz., silver rose $.07 to $18.99/oz. "Buying gold is
the best play on market negativity today, it is your insurance
against economic chaos and inflation. Six reasons to buy gold
now: Dependability, Can't Be Copied, Timeless, A Win-Win, Rarity,
Universality," reports Jim Cramer at CNBC ...
5-17-10 -- Gold steadies at $1,225/oz. -- Listen
Monday gold prices held near $1,225/oz. as bargain hunting offset short-term profit taking.
Gold last traded down $7.30 to $1,224.10/oz., silver fell $.42 to $18.92/oz. "Assets in the
world's largest exchange-traded fund tracking gold prices are at record levels and poised
to top $50 billion as investors seek the safety of the precious metal amid the uproar in
global financial markets. 'Gold prices are soaring because of growing inflation fears,"
reports Marketwatch ...
5-14-10 -- Real money shines bright! -- Listen
Friday gold prices hit profit-taking resistance at $1,250/oz. on a
firmer dollar amid debt/growth worries. Gold last traded down $1.20
to $1,231.40/oz., silver fell $.09 to $19.34/oz. For the week gold
rose 2%, silver jumped nearly 5%. "A German banker once told us that
gold normally trades like a commodity. However, when investors lose
confidence in currencies, demand for gold can effectively become
unlimited," reports BusInsider...
5-13-10 -- Money flood coming into gold for safety -- Listen
Thursday gold prices eased back from historic highs on profit
taking amid market volatility. Gold last traded down $4.50 to
$1,232.60/oz., silver fell $.10 to $19.42/oz. "Analysts expect
the precious metal to extend gains to new records over coming
days as waves of investor money come flooding into the market
looking for safety. The fact that gold has moved up alongside
the dollar reinforces investor bias," reports Reuters...
5-12-10 -- Demand driving metals to new highs -- Listen
Wednesday gold prices climbed toward $1,250/oz. on safe haven amid
rising investment demand. Gold last traded up $5.70 to $1,237.10/oz.,
silver rose $.19 to $19.52/oz. Gold reaches for the stars: "Gold is
the tangible currency of last resort. It is not in a bubble as the
fundamentals and market sentiment support the rise in prices. Gold
is reflecting exactly what's going on," said Adam Klopfenstein of
Lind-Waldock in Chicago to Marketwatch...
5-11-10 -- Gold scales new nominal price peak! -- Listen
Tuesday gold prices scaled a new nominal peak on safe haven buying
after $1T EU bailout rally fizzled. Gold last traded up $28.70 to
$1,231.40/oz., silver rose $.83 to $19.33/oz. Gold is just over
halfway to a new "inflation-adjusted" price peak of $2,350/oz.
reached thirty years ago. "Gold may soar to $1,800 an ounce within
three years," reports BusinessWeek ...
5-10-10 -- Gold coin sales soar on economic anxiety -- Listen
Monday gold prices held near $1,200/oz. after a $1 trillion EU bailout plan
ignited a global stock rally. Gold last traded down $5.30 to $1,202.70/oz.,
silver rose $.10 to $18.50/oz. "The U.S. Mint said sales of
the American Eagle one-ounce gold coins totaled 41,500 ounces
last week, compared to 60,500 ounces in the entire month of April.
Investors also piled into gold exchange traded funds. SPDR Gold Trust
said its holdings rose nearly 20 tons on Thursday, the biggest one-day gain
since February 2009," reports Reuters ...
5-7-10 -- Global flight to safe havens -- Listen
Friday gold prices held above $1,200/oz. after rising 2.5% this week
as EU debt woes ignited a global stock selloff. Gold last traded down
$.80 to $1,208.00/oz., silver rose $.73 to $18.40/oz. "This week's market
actions show the true vulnerability of the global financial world. Paper
markets require confidence to operate while gold creates confidence. Gold
is the safest financial haven on earth today," writes Swiss America chairman
Craig R. Smith ...
5-5-10 -- Golden tug of war -- Listen
Wednesday gold prices rose despite profit taking and dollar
strength vs. euro. Gold last traded up $2.30 to $1,174.50/oz., silver fell $.33 to $17.53/oz.
Gold prices had been slipping earlier Wednesday but bargain-hunters came out
in full force and bought the precious metal. Gold is an appealing investment
during times of financial crisis and currency debasement as a form of money
that doesn't lose value. Analysts expect gold's tug of war to continue amid
gold's run to $1,200/oz.," reports TheStreet ...
5-4-10 -- Investors sell stocks, hold gold -- Listen
Tuesday gold prices eased below $1,175/oz. on profit taking as stocks plummet
and the dollar rallied. Gold last traded down $10.70 to $1,171.60/oz., silver
fell $.93 to $17.87/oz. Reuters reports "Investors sold the metal for liquidity
needs due to a Wall Street sell-off and commodities decline." Gold looks better
today than it ever did before as sovereign debt and contagion fears spread ...
5-3-10 -- Metals set to bloom in May -- Listen
Monday gold prices rose to fresh 2010 high on safe haven buying despite a
firmer dollar. Gold last traded up $3.00 to $1,182.30/oz., silver rose $.16
to $18.80/oz. "It is by no means too late to get into this grand cycle bull
market in gold. The coming short-term market period should be very exciting. Gold should now mount its assault on its Dec. high," ($1,225/oz.) writes Howard Katz at Kitco ...
4-30-10 -- Gold hits 2010 high! -- Listen
Friday gold prices shot to a 2010 high on safe haven buying, bargain
hunting and a weaker dollar. Gold last traded up $12.30 to $1,179.50/oz.,
silver rose $.21 to $18.64/oz. "A continued flight to safety amid
European debt worries sent gold to its highest level of the year Friday,
with some looking for the precious metal to eventually push to the
record highs hit in early December. Traders wonder if Greece is the
canary in the coal mine?", reports WSJ ...
APRIL News & Views...
4-29-10 -- Gold halfway to projected price peak -- Listen
Thursday gold prices rose near 2010 highs on safe haven buying despite
short-term profit taking. Gold last traded up $2.20 to $1,167.20/oz.,
silver rose $.40 to $18.46/oz. "Gold will hit its parabolic peak between
$2,450 to $3,500 an ounce.Our target price aligns very closely
with the projections of others. When we start to see gold go parabolic,
then we will know gold is in a bubble," reports Goldseek ...
4-28-10 -- Gold touches $1,175, new 2010 high! -- Listen
Wednesday gold prices touched 2010 highs on safe haven buying despite
short-term profit taking. Gold last traded down $3.40 to $1,165.00/oz.,
silver fell $.10 to $18.06/oz. Gold futures rose to the highest since
December as a debt ratings downgrade for Spain revved up fears of a
spreading sovereign debt crisis. 'Gold is riding the coattails
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