Streetwise Articles
Slump Deepens for Morningstar Resources and Precious Metals Funds
Source: Mineweb (9/4/08)
Fund Analyst Jordan Benincasa wrote, "Net asset values of precious metals equity funds moved in the same direction as the price of gold, which was down about 8% during the month. Sharp swings in returns are the norm for precious metals funds, which have historically been among the most volatile of any funds."
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Gold Demand Soars. Price Falls. What's Going On?
Source: Mineweb (9/3/08)
According to a Reuters report quoting Abu Dhabi Gold and Jewellery Group Chairman Tushar Patni "It was the best month the market has seen in almost 30 years and it compensated for any drops we have seen earlier this year. We had never expected that if gold fell below $800 an ounce we would see a 300 percent increase in volume and 250 percent in value, especially as many buyers are abroad on holiday."
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Precious Metals Manipulation: Lawyers Prepare for Battle
Source: Seeking Alpha, James Conrad (9/3/08)
Word on the street is that previously silent victims of precious metal manipulation are now, for the first time, grouping together to do battle in the courts of the United States of America. Class action lawsuits are being planned against the suspected manipulators of the gold and silver markets.
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Gold Production and Reserves: Stage Two
Source: Seeking Alpha, Scott Wright (9/3/08)
...From a strategic perspective gold is in fine technical shape. It was just about a year ago that it launched from $650 into one of its most powerful uplegs bull to date that saw it briefly eclipse $1000 in March. And while gold seems to be exhibiting gut-wrenching volatility, it has been consolidating on the high side of this most recent upleg and is likely positioning itself to launch into a glorious new upleg that I suspect will surpass the early-2008 highs.
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Gold Could Soon Hit $1,000/Ounce but Growing Downside Risk in Two-Year Timeframe
Source: Mineweb (9/2/08)
Leading gold expert and chief executive of GFMS Paul Walker expects gold to reach $1,000/ounce again before the end of the year based on developments in the macroeconomic environment "where there are still many things that could go wrong".
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Big Gold Imports Rise in India in August
Source: Mineweb (9/2/08)
India's gold imports in August jumped 45 percent from a year ago to about 100 tonnes, the first annual rise this year, as lower prices revived demand in the world's leading consumer, a trade body chief said on Tuesday.
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Prospect Generators- Increasing Your Odds of investing Success
Source: Brent Cook, Exploration Insights (9/2/08)
How junior companies go about their business directly affects how extraordinary our rewards or losses can be. There are three basic business models the junior explorers employ in their efforts to succeed.
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Adrian Day: Long-Term Fundamentals Still Good For Gold
Source: The Gold Report (9/2/08)
A pioneer in global investing, with a reputation for discovering big winners, Adrian Day (Adrian Day Asset Management) gives us his insight on whether he thinks gold has hit the bottom, and what it's going to take to get the juniors going again. He also tells us which juniors he thinks are positioned to weather the slowdown.
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What I Tell Myself When Gold Sells Off
Source: Jeff Clark, Casey Research (9/2/08)
Psychologists say decisions arenât made simply on what you hear from others but also on what you hear in your own inner dialog. With investing, that can be the kiss of death if you let either fear or euphoria dominate the conversation.
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UBS Says Metals Commodities Could See High Prices Over the Next Several Quarters
Source: Mineweb (9/1/08)
UBS Research recently asserted that--although commodities markets are oversold and likely to remain volatile over the next month or so--"potential upside into 2009 is considerable" for their preferred commodities of thermal coal, uranium, gold, silver and platinum.
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Decoupling of Physical Gold and Paper
Source: Seeking Alpha, Joey Keasberry (9/1/08)
...if you read about the metals boom/bust-scenarios and about the gold price targets that most analysts have suddenly reduced to well-below $700, stop worrying. Don't take any risks and buy physical gold or silver, rather than paper. We're approaching times when almost anyone will want to buy your coins or bars. And let's not forget that mining companies do not produce paper gold...
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Four Reasons Why Gold's a Slam Dunk Investment
Source: Seeking Alpha, Andy Sutton (8/31/08)
Many in the mainstream press will quickly scoff at the idea of holding Gold and Silver, because they donât pay dividends. So to be fair to their argument, I calculated the movement in the S&P500 Dividend Reinvested Index from 10/31/2006 to the last report at the end of this past July. Even with dividend reinvestment, the S&P500 is down 4.78% while Gold is up nearly 50%.
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Citigroup Highlights 'Pockets of Opportunity' in Quality Copper and Gold Mine Developers
Source: Mineweb (8/29/08)
"M&A among gold developers has been less fervid than in copper," according to analysts John Hill, Graham Wark and Liam Fitzpatrick. "This is likely related to political factors (tougher locations) as well as commodity outperformance that provided copper mines excess cashflows, plus better ROI (return on investment) on projects."
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Tsunami Insurance: Greg McCoach on Financial Catastrophes and Outlook for Gold
Source: The Gold Report (8/29/08)
In this exclusive interview with The Gold Report, Greg McCoach, bullion dealer and author, Mining Speculator newsletter, forecasts a maelstrom of financial catastrophes with the potential to cripple the U.S. economy. While most Americans are clueless about the impending meltdown, investors in mining stocks and the precious metals markets could soon realize explosive growth.
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Let Them Mint Paper: Now They're Out of Krugerrands Too
Source: Bloomberg (8/29/08)
Rand Refinery Ltd., the world's largest gold refinery, ran out of South African Krugerrands after an "unusually large" order from a buyer in Switzerland. The order was for 5,000 ounces and it will take until Sept. 3 for inventories to be replenished, said Johan Botha, a spokesman for Rand Refinery in Germiston, east of Johannesburg.
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Operation Melt Down, Part I: How Richard Nixon "Goldfingered" the World
Source: Adrian Ash, Bullion Vault (8/28/08)
Fifty years ago the US Treasury feared a very genuine loss of its real gold reserves. Gold's role as the ultimate asset of national power was about to peak. By 1966, fully one-half of all the gold ever mined would sit inside government vaults. Fear put it there. Fear is likely to keep hold of what's left today.
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Once Upon A Time In âNever-Neverâ Land, There Were Two Competing Silver Prices
Source: Peter Degraaf, Online Stock Trader (8/28/08)
A funny thing happened last week. The SUA and its fellow travelers may have pushed âpaper silverâ too low. Shortages in âreal silverâ began to appear, and more and more people now are beginning to understand what is happening.
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Silver Calls
Source: David Morgan, Silver Investor (8/28/08)
Before you dive too far into this missive, let me state this is NOT about call options on silver. . . this weekâs commentary is about how I have âcalledâ the silver market.In The Morgan Report published on March 3, 2008, in paragraph four, I stated the following: âWe expect to see a quick and solid spike high within the next few weeks. It may come as early as a few trading days from the date of this publication. First, we base this on the fact that the Commitment of Traders report in silver is showing us caution based upon countless previous experiences."
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Silver Calls
Source: David Morgan, Silver Investor (8/28/08)
Before you dive too far into this missive, let me state this is NOT about call options on silver. . . this weekâs commentary is about how I have âcalledâ the silver market.In The Morgan Report published on March 3, 2008, in paragraph four, I stated the following: âWe expect to see a quick and solid spike high within the next few weeks. It may come as early as a few trading days from the date of this publication. First, we base this on the fact that the Commitment of Traders report in silver is showing us caution based upon countless previous experiences."
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UBS Urges Clients to Buy Gold - We Already Are Say Investors
Source: Mineweb (8/28/08)
UBS Commodity Strategist John Reade has put out a note today urging clients to "Buy Gold". He is recommending that investors buy gold with an initial target of $850 (the fix on the morning of 28th August was $833.50), which is also the UBS one-month forecast price, with further gains expected "towards $900 and beyond".
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JP Morgan Resource Fund 'Loves' Gold, and Platinum Market 'Fantastic'
Source: Reuters (8/27/08)
"We love gold. We have a substantial part of our portfolio in gold mining companies," said Ian Henderson who manages around $5 billion at JP Morgan's Global Natural Resources Fund. "I think the gold price will surpass its previous peak."
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Unprecedented Gold Coin Demand Suggests Asian-Style Precious Metal Hoarding Spreading to the West
Source: Mineweb (8/27/08)
According to Richard Smith of coin dealers CSG Inc. in Phoenix - Another gold conspiracy unveiled! - the first two weeks of August saw 60,000 coins sold in the U.S. - around ten times the volume recorded in 2007 when sales were at around 12,000 a month.
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Independence Day: Decoupling Gold and Silver for the Dollar
Source: Seeking Alpha, James Conrad (8/27/08)
Yesterday, something interesting happened. Precious metals went up, while the dollar went up. Everyone is amazed. But, the news shouldn't really be surprising, because it is nothing new. Gold and silver have never been tethered to the dollar, or anything other than the principles of supply and demand. When looked at in the long term, they have been rising against a falling dollar, but, also, against a rising euro and pound, for over 8 years now.
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Gold Coin Rationing: Where There's Smoke, There's Fire
Source: Seeking Alpha, John Lee (8/27/08)
If the physical supply constraint persists, we might indeed see that behind all this smoke, there's fire (i.e., the US government has run out of gold with which it's willing to part). Time (months, not years) will tell, quite soon.
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Gold Coin Rationing: Where There's Smoke, There's Fire
Source: Seeking Alpha, John Lee (8/27/08)
If the physical supply constraint persists, we might indeed see that behind all this smoke, there's fire (i.e., the US government has run out of gold with which it's willing to part). Time (months, not years) will tell, quite soon.
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