November 25, 2014 - 08:56:29 PST

Stocks Adjusted For ' Inflation' and For Gold

However, the greater point of this post is that on the big picture, big deal, stocks are finally at parity with CPI afte... Read More

 

 

 

11/25/2014 10:11:15 AM By: Brandi Brundidge

 

GOLD SLOWLY CLIMBS PAST $1,200 OPEC TO VOTE ON FUTURE OIL PRODUCTION

 

Precious Metals prices are up slightly this morning as the  Swiss plan to vote Sunday on the Swiss National Bank holding a minimum 20 percent of its assets in Gold versus the 8 percent held last month. Bullish investors believe a ' yes' vote could support Gold prices in the future, but opinion polls show some voters are still undecided. " I don' t think the Swiss vote will pass unless there [is] a sudden upswing in the ' yes' camp ... the number of undecided is around 15 percent and that could swing, but I don' t see it happening. And if it passed, it wouldn' t probably lift prices immediately because the market will be wanting to know how the Swiss increase their Gold: by swaps or by buying from other central banks," Societe Generale metals analyst Robin Bhar said.

Another important debate is expected Thursday when the Organization of the Petroleum Exporting Countries (OPEC)  could make an official decision on scaling back oil production by an estimated 1 million barrels per day. OPEC has surpassed its existing production limit of 30 million barrels a day, according to the International Energy Agency. Strategists at investment firm Stifel expect that, in addition to OPEC' s output reduction, " non-OPEC member Russia will join with up to a [500,000 barrel a day] cut for a total as high as 1.5 million barrels a day." Oil prices have suffered this year due to an increased global supply along with weak demand. 

At 11:10 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,201.40 Up $2.70
• Silver, $16.68 Up $0.20

 

November 24, 2014 - 05:49:52 PST

Gold-Silver Ratio Nears Bullish Breakout - Chart

At around 73 the Gold/Silver price ratio is now close to levels last seen at the height of the global financial crisis v... Read More

 

 

11/24/2014 9:58:55 AM By: Paul Stevens

 

GOLD HOLDS ONTO GAINS AS EURO STRENGTHENS

Gold and Silver prices are hovering and holding onto gains received Friday. Although some feel Gold has had a lackluster year, recent news out of China and Europe  have sparked recent gains and optimism for the future. Julian Jessop, head of commodities research at Capital Economics, wrote, " Gold remains out of favor with Western investors and commentators focused on the prospect of tighter U.S. monetary policy and further dollar strength. But we see scope for a decent recovery in the price of the Precious Metal over the next year or two, with a target of US $1,400 per ounce for end-2016."

Stronger-than-expected German business news helped the euro gain against the U.S. dollar Monday.  The news is seen as a positive sign that Europe' s largest economy is improving  after narrowly avoiding going into recession. With the overall eurozone economy still struggling, European Central Bank chief Mario Draghi' s moves in regards to monetary policy will be highly scrutinized. Derek Halpenny, European head of global markets research at Bank of Tokyo-Mitsubishi UFJ in London, said, " We think that the relative monetary policy play is pretty much priced in, so it is going to become a struggle to push further lower for the euro."

At 10:58 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,201.50 Up $0.80
• Silver, $16.51 Up $0.02

11/21/2014 8:46:14 AM By: Paul Stevens

 

GOLD RISES AS CHINA SHOCKS MARKETS, CUTS INTEREST RATES

Precious Metals prices are rallying and picking up strength in early morning trading. News that China cut its benchmark interest rates surprised the markets and  boosted Gold, helping the metal rally to a three week high. China is the world' s biggest Gold consumer and the surprise interest rate cut spurred expectations that demand for the yellow metal could rise. Mitsubishi analyst Jonathan Butler said, " Any measures that accelerate the spending power of the Chinese public are bound to be positive for Gold. (This could mean) additional spending power for Chinese consumers to buy jewelry and investment products."

Shares around the world gained momentum Friday following China' s interest rate cut, causing prices to increase rapidly. While speaking in Frankfurt about the eurozone economy, European Central Bank President Mario Draghi said, " We will continue to meet our responsibility - we will do what we must to raise inflation and inflation expectations as fast as possible. If on its current trajectory our policy is not effective enough to achieve this ...  we would step up the pressure and broaden even more the channels through which we intervene." This news coupled with the surprise rate cut by China has some economists looking toward 2015 for major policy changes. Neil Williams, chief economist at fund manager Hermes in London, said, " The two together, (China cut, Draghi speech) suggest to me there is still a lot of hard policy work to be done next year."

At 9:45 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,208.50 Up $14.60
• Silver, $16.61 Up $0.38

 

November 20, 2014 - 15:50:29 PST

Swiss Gold Vote This Weekend Could Mark The End Of Fiat Money

Just as you would buy a refrigerator on sale, now is the chance to use overvalued dollars to buy assets around the world... Read More