Gold $800.00, Silver $16.00 next target?

Can someone recommend a good site that is updated daily for copper by the ounce?

I can find spot gold and silver prices but all I ever see is copper by the ton. And of course, I do not have a ton of copper. Ha.

 

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Kitco has a decent site on copper: http://www.kitcometals.com/charts/Copper.html

The thing about copper is, prices are way too high, 7000usd/tonne when it was around 2000usd/tonne back in 2003. Now that there are a few mines that are going to open up in 2010, copper prices should fall unless demand for copper just keeps on going like a wild train.

 

Copper by the ton? Or copper by the pound? I can't say I've seen it listed by the ton.. NYMEX.com will show you the price of copper by the pound, currently ~$3.50/pound, or $.21875/oz.

 

Hi Elaine,

Oil broke down a bit and gold's been tracking oil and the inflation tie. However, gold hardly burped in the spot price. The miners took a hit yesterday, but that's a different market.

Today, gold, et al, are back up in anticipation of the Fed cutting rates by 25 bpts.

Right now, in my personal opinion, gold and the other precious metals are looking enormously bullish. I'm looking at at least $800 by the end of the year and perhaps $850.

just my humble opinion,

rono

 

gxseries. Thanks for the link.

Rono. I am bullish too.

I had read something about this. But I am not convineced yet. China is still consuming copper and has a long way to go in infrastructure and construction. Massive thrid world population that is converting to first world conditions. They are putting in some huge dams and copper is used there as in the transmission. Copper is tied to construction of homes and buildings too. Russia is growing now too as a result of their oil reserves and sky rocketing oil exports and profits. They are getting rich and their economy is going gang busters (just paid off the last of their WWII debt a year ago in a LUMP sum payoff) and only up hill for their economy from here on out because they are not under the burden of huge interest anymore. AND they now are making huge profits from their oil and no interest to consume it. So lots of construction there too now. Kind of a 'fallout' of the war over there making oil prices go up. Russia is benefitting from it tremendously. And so I think copper is going to stay up. And of course, it is used in making copper jacketed (armor piercing) bullets - a demand there too. Anyway, that is just my 2 cents on the world outlook for copper. As Teddy said, "Bully, Bully!".

 

opps...

vwap - thanks for your link too! Much appreciated.

 

$800 gold any minute now. see kitco.com

 

Gold had already topped $800 earlier today.

http://www.theglobeandmail.com/servlet/story/RTGAM.20071031.wprecious1031/BNStory/energy/home

 

gold further rises

gold hit a current high of $800.80 an ounce.

 

My pet singing pig Spagghetti is deeply troubled by your generalization!

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Smart man! Go PM's!

 

Gold is down to 784.00 and silver has really down from 14.50 to 13.94

 

I'm sorry but I think Gold never reached $800. I checked all day yesterday and could never see it for myself. Hereis a 30 day chart which shows a high $790 but $800???
http://www.kitco.com/charts/livegoldnewyork.html

Take Care
Ben

 

Supprises Gold didn't dive yesterday on the fed decision. Must have been because it wasn't a unanimous decision to cut rates yesterday. Still to high for me. As far as the $800 level, I know futures crossed that yesterday.

 

Ah, Futures is a horse of a different color...

 

That IMO was a fake drop in the rate by the Fed to help the housing market
The Fed can only step in so many time before all hell breaks out with inflation

 

Surely Henry's comments spell doom and gloom for metals.

http://www.reuters.com/article/businessNews/idUSBOM4248420071030

"I'm strongly committed to a strong dollar"
Treasury Secretary Henry Paulson

heheheheheheheheehehe: Good one Henry!

 

And gas is $3.00 a gallon......

 

I'm waiting for the YouTube video of a white rabbit pulling a pocket watch from his waistcoat: "Oh dear, I shall be late to Benny's fed meeting."

$3 gas shouldn't last much longer either especially with winter around the corner.

 

And they haven't even started the "winter" blends up north yet.
News flash! Gas won't gel like diesel on a really cold day. Just keep your tank full.