Next Level: GOLD $1,350.00

I totally agree. Gold is quite high & most people don't have $1100+ to drop for an oz, and you just get killed on premiums for fractionals. $17-18 for silver is within reach for all. Everybody is looking for a safe place to park cash & I think silver will shine.

 

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Currently:

GOLD @ $1,105.70/oz.
Silver @ $17.06/oz.
Platinum @ $1,609/oz.
Palladium @ $467/oz.

 

I can certainly see how that might happen, but gold ownership was new in the '70s and started at a much lower price relative to other investments. I suspect the stock market will absorb most of the bond $$ this time around...(just an opinion).

 

When trying to think like a trader, I just can't think of any reason why gold should be sold and go down in price just because bond prices are falling, which is what happens when interest rates rise. I guess we'll know when rates begin to rise.

 

A day or so ago, gold dropped $17 in 15 minutes based on a fear that the EU bailout of Greece would cause the Dollar to rise relative to the Euro. That level of "skidishness" is worrisome for gold (imo).

In other words, it seems like much of the gold price is due to "speculation" of a weak Dollar vs. market fundamentals. If the Dollar rises significantly, gold "could" drop precipitously.

 

I agree that gold is a speculation, but it's a pretty good one. It's difficult to measure currency moves against each other. The dollar and euro could both be losing value, but if the euro is losing it faster, it makes the dollar appear strong. Now that central banks stopped selling gold and are buying it, the fundamentals for the metal are greatly improved.

 

Here's a very interesting article I came across today. I'm not sure what to make of it, but it will be interesting to see what happens between now and next Thursday!

 

It's an interesting article, but the author missed something. If the gold calls are in the money next week, the holders will not take possession of the gold. They will sell puts to extinguish the calls and pocket the difference in price. At the same time, those who sold the calls will buy puts to close out the calls they sold and accept the loss because they don't have any gold [or silver] to deliver. Most of these players are in it for the paper profits. They don't actually have or want the gold [or silver]. This makes the price even more volitile.

 

Ouch! :rolling: ...you just made my head hurt.

One point I thought was interesting (and I wasn't aware of) is that the government use banks (such as JP Morgan) to manipulate PM prices. Is that right?

 

I've read that, but I don't know what the point would be. It's just as easy for central banks to sell gold and make a big deal over it to depress the price. Secret dealings wouldn't have the proper psychological impact. But it wouldn't surprise me if JP Morgan was trading for their own account, or for a large client other than the US government.

 

Currently: in UK/EU markets...

GOLD @ $1,095.60/oz.
Silver @ $16.68/oz.
Platinum @ $1,592/oz.
Palladium @ $455/oz.

US market opening in a few minutes...

 

Currently: in the US market at the opening...

GOLD @ $1,094.60/oz.
Silver @ $16.67/oz.
Platinum @ $1,590/oz.
Palladium @ $454/oz.

 

Hey Krispy! What's up with PM prices?!

 

Currently:

GOLD @ $1,092.30/oz.
Silver @ $16.65/oz.
Platinum @ $1,586/oz.
Palladium @ $457/oz.

EU + Euro issues maybe???

Sometimes PMs go up, sometimes they go down...

 

Not in Elaine's world!

Did you see the article I linked to in Post #1707? I thought you might find it interesting. They predict a lowering of prices going into next Thursday's April futures expiration (due to government intervention via large banks) then a possible increase in prices as the contracts expire...based on there prices finish out.

Cloudsweeper99 says it'll be a paper-to-paper transition and no big event...but it's something interesting to watch over the next week or so.

 

I did see and read that link you posted yesterday... and it scrambled my attempts to understand it as well. I actually read Cloud's explanation about three times to get some notion of what could transpire but I felt I still needed a picture to be drawn to illustrate what was happening

Currently:

GOLD @ $1,092.90/oz.
Silver @ $16.73/oz.
Platinum @ $1,588/oz.
Palladium @ $456/oz.

I'm fine with prices hanging out in this range if that's where they are going to base but I may need someone to explain again next week if any situation like that article or the explanation of factors Cloud cited takes place to help me understand where things are going after that time. :thumb:

 

Currently:

GOLD @ $1,087.40/oz. Low so far today $1084.50
Silver @ $16.60/oz. Low so far today $16.56
Platinum @ $1,585/oz.
Palladium @ $443/oz.

 

Currently: in UK/EU markets...

GOLD @ $1,095.00/oz.
Silver @ $16.81/oz.
Platinum @ $1,592/oz.
Palladium @ $445/oz.

US market opening shortly...

 

Currently: at the US opening...

GOLD @ $1,094.20/oz.
Silver @ $16.81/oz.
Platinum @ $1,591/oz.
Palladium @ $453/oz.

 

Currently:

GOLD @ $1,090.40/oz.
Silver @ $16.66/oz.
Platinum @ $1,609/oz.
Palladium @ $457/oz.


ROB MCEWAN was just on Bloomberg News saying gold will be at $2k by end of 2010. Discussed mining and explorations for gold, silver and copper. Reasoned his prediction for rising PM prices due to growing debt in other countries, debasement of currencies, refuge from the Euro.