The <b>Gold Price</b> Closed Unchanged at $1285.80 |
| The <b>Gold Price</b> Closed Unchanged at $1285.80 Posted: 01 Sep 2014 07:14 PM PDT
Aurum et argentum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger © 2014, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose.  | ||||||||||||||||||||
| <b>Gold Price</b> - The Thin End of the Wedge :: The Market Oracle <b>...</b> Posted: 02 Sep 2014 10:10 AM PDT By: Bob_Kirtley
Factors for consideration regarding the purchase gold: · No new large discoveries of gold deposits dampening supply No doubt our readers can add many more reasons to the above list but you've got the drift. Back in June 2006 gold was trading at $450/oz, so since then its value has increased threefold to today's price of $1300/oz. If we compare gold's progress to that of the DOW we can see that back in June 2006 the DOW was trading at approximately 10,000 so in the same time period it has failed to even double in value. We think that it is fair to say that gold has performed very well over this time period. Can gold continue to outperform other asset classes going forward making it the darling of the investment community you ask? Well, it's not all plain sailing as the precious metals sector faces a number of head winds that will have to be overcome if we are to see record highs for both gold and silver in the future. Gold produces no income, gold is taxed unfavorably in some countries, gold is overbought today, almost all the gold that's ever been mined resides in vaults ready for resale, gold is not a safe haven as it can be confiscated, these are a few of the usual arguments against investing in gold. The printing of money either via QE or otherwise by a number of nation states has served to dilute the value of those currencies including the US dollar. In the US this programme in now being tapered and the indications are that it will come to an end in October. The coming of the end of QE has seen the dollar improve especially over the last 3 months, having increased in value from 79.00 to 82.72 or 5%. If the dollar continues to strengthen then it will hamper gold's ability to rally, in dollar terms. The sale of large amounts of gold on the paper market, the COMEX, has served to cap gold's progress, amid allegations of manipulation. These sales may or may not continue but if they do then they will have a negative impact on gold, at least until the physical market becomes the dominant force. Chart of Gold's progress in 2014 The technical analysis of any commodity is indeed a complex process, but today we will take just a quick look at the wedge formation that gold has formed. We can see that there is almost the same number of higher lows as there is lower highs which renders the chart fairly neutral. However, if the upper line or the lower trend line is broken then gold could move quickly in that direction. As gold is at the thin end of the wedge then a breakout will be upon us in a matter of weeks. Conclusion Our preference is to hold physical gold and silver in our very own hands; invest in a small number of good quality precious metals mining companies and occasionally trade options. We are of the opinion that an investment in physical metal means just that and not a proxy by way of paper being held by someone else on our behalf. We believe there are times to be fully invested and times to exercise a little caution. At the moment we are not prepared to adopt a cavalier approach to investment in gold or their associated producers as we have been through a number of rallies that have failed over the last few years, so we need a tad more certainty before we can fully commit our funds. We are content to have the lion's share of our funds in cash and wait for the right opportunity to present itself. Our short list of mining companies consists of around thirty companies of which we have about ten or so favorites. 'Go gently' is the order of the day. Got a comment, fire it in, especially if you disagree, the more opinions that we have, the more we share, the more enlightened we become and hopefully the more profitable our trades will be. Bob Kirtley To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. Winners of the GoldDrivers Stock Picking Competition 200 DISCLAIMER : Gold Prices makes no guarantee or warranty on the accuracy or completeness of the data provided on this site. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This website represents our views and nothing more than that. Always consult your registered advisor to assist you with your investments. We accept no liability for any loss arising from the use of the data contained on this website. We may or may not hold a position in these securities at any given time and reserve the right to buy and sell as we think fit. © 2005-2014 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication. |
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