Streetwise Articles
Gold Struggles to Hold Gains
Source: Reuters (1/23/08)
...But longer-term sentiment remained strong and the metal was expected to exceed this year's historic highs of $914 an ounce.
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Credit Suisse Backs Mining Stocks
Source: Reuters (1/23/08)
Credit Suisse advised investors to buy mining stocks on Wednesday, saying a sell-off on equity markets was overdone and that commodity prices were remaining relatively strong.
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South Africa May Never Again Be the World's Top Gold Producer
Source: Reuters (1/23/08)
The London-based GFMS precious metals authority said gold production fell 8 percent in South Africa last year, while China's output shot up 12 percent from the year-ago to just over a 10th of the world's supply.
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Gold Bull Market Moves Up to Phase Three
Source: Boris Sobolev, Seeking Alpha (1/23/08)
Since September, gold has gained more than 20% (avg. 4.0% per month): steep gains indeed.
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Gold Slips Below $850
Source: Reuters (1/22/08)
âGold is pressured now as the dollar is firming and stocks are plunging. In the short term, gold could be weighed down but the market is still bullish on gold in the long term,â said Hiroyuki Kikukawa, analyst at IDO Securities in Tokyo.
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Gold Jumps by More Than 10 usd as Fed Cuts Rates by 75 Basis Points
Source: Thomson Financial (London) (1/22/08)
Broader financial fears, heightened now by what may be seen as a panic move from the Fed are also attracting safe haven flows into bullion.
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The Joy and Benefits of a Fall in the Gold Price
Source: Julian D.W. Phillips, Gold Forecaster - Global Watch (1/22/08)
The pullback after a rise means that a new âfloorâ price can be established or a new foundation laid on which both buyers and sellers can feel comfortable at that level because it is a true reflection of demand and supply at present. It is then that long, medium and short-term players will return to the market. This is why it is a joy.
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Citigroup Suggests Cdn$300b Available for Mining M&A in 2008
Source: Mineweb.com (1/22/08)
Analysts Craig Sainsbury, John H. Hill, Graham Wark, Heath R. Jansen, and Liam Fitzpatrick said the current wave of mining M&A will continue, driven by: "free cash flow yield premia, mounting cash balances, dwindling reinvestment opportunities, frictional barriers to new mine capacity, and aggressive forays by sovereign investors."
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'Global Meltdown Won't Last Long'
Source: resourceinvestor.com (1/22/08)
âU.S. investors are becoming more interested in and knowledgeable of Canadian exploration stocks,â said Greg McCoach, editor of The Mining Speculator. âI expect American investors to flood into the market and that will lift it up.â
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How Do You Pick A Great Junior?
Source: resourceinvestor.com (1/21/08)
Jim Letourneau (Big Picture Speculator), a speaker at the Vancouver Resource Investment Conference on Sunday, called precious metals a "happy hunting ground" for investment as of January 2008.
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Gold Fever Strikes New Investors
Source: The Wall Street Journal (1/21/08)
In developing countries from China to the Middle East, new ways to invest in gold are popping up, transforming the market for one of mankind's most venerable ways to sock away wealth.
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Gold: Investment Demand to Pick up
Source: Business Line (Mumbai) (1/20/08)
...With the market having recorded a phenomenal price increase in 2007 and prospects of further increases appearing positive, old resistance levels are now turning into support levels. Whether the downside correction has run its course remains to be seen. Technical analysts assert the yellow metal will resume its uptrend.
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Fred Hickey: Buy Gold, Short the Horsemen - Barron's
Source: Eli Hoffman, Editor, Seeking Alpha (1/20/08)
Barron's 2008 Roundtable participant, Fred Hickey, editor of The High-Tech Strategist newsletter weighs in with his picks for 2008: streetTRACKS Gold Trust (GLD) - "despite an eight-year bull market that saw gold jump 30% last year, the most exciting phase is yet to come. Dow-to-gold ratio has historically been about 10 to 1; now it's 15 to 1."
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Gold Technicals: Will We See A Correction or $1,080?
Source: Jason Hamlin, Seeking Alpha (1/20/08)
...This gold bull has many years left and I fully expect gold to take out the inflation-adjusted high of $2,200 before the bull is over. And even after breaking $2,200, I will not be selling my holdings until the average investor is talking about gold the same way they were talking about tech stocks in 2000.
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Nothing Like a Crisis to Polish Up the Image of Gold
Source: australiannews.com (1/19/08)
...London-based precious metals consultancy GFMS joined the $US1000/oz crowd. "Predicting the top is never easy but we always thought the $US900 barrier could fall quite soon and then we have to start viewing $US1000 as a clear possibility for later this year," GFMS executive chairman Philip Klapwijk says...
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Gold Market Takes a Breather
Source: globeandmail.com (1/18/08)
Gold, which roared to a record high of $914 an ounce on Monday, is expected to trade in a range of $870 to $900 an ounce, with movements in the currency, energy and stock markets likely to provide direction.
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Goldman Bullish on Barrick and Gold Price
Source: Seeking Alpha (1/18/08)
The analysts are also very bullish on the price of gold. They are calling for average prices of $910 an ounce in 2008 and $870 an ounce in 2009.
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Gold Prices Set for $1,000 in 2008
Source: AFP (1/17/08)
"Investor appetite for gold at the moment seems undimmed and this should push gold higher over the year," GFMS chairman Philip Klapwijk said as the independent research group published its annual Gold Survey.
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Reinhard Helps Investors with a Schizophrenic Market
Source: Richard Reinhard, GoldEditor (1/17/08)
...If you are convinced of gold's future then these are the times to increase gold share positions. Junior gold shares are selling at fire sale prices...
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In India, Investors Sell Gold, Buy Stocks
Source: Reuters (1/16/08)
In a nation that buys a third of the world's gold output, even bullion dealers are selling the stuff in hopes of a seventh year of stock market gains, a trend that could cause gold's record run to above $900 an ounce this year to stumble.
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An Interview with Trader Vic
Source: Seeking Alpha (1/16/08)
Victor Sperandeo (aka "Trader Vic") one of the most famous commodity traders in the world: "Youâre going to get a pyramid into gold for China: People will buy the futures and once they make money, theyâll buy more. Then it will go up more and theyâll buy more. You get to $1,000/ounce quickly on that. I see it all all-time highs."
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Silver - Good Things Come in Small Packages
Source: David Morgan, Silver Investor (1/15/08)
Pure and simple, many people in and outside of the precious metals area have come to the conclusion that âsilver is too bulky." Before going off on a rant about this general (mis)perception, it becomes a challenge for this writer to lead you to draw your own conclusions.
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No Speculative Froth, Yet
Source: 321gold.com (1/15/08)
...The total absence of speculative froth at the small-cap end of the gold sector indicates that the public has not yet embraced the gold bull. It seems that hedge funds are responding to the gold rally by buying a few highly-liquid gold shares, but the general investing public -- the main driver of the smaller and less-liquid stocks -- remains unimpressed.
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Leverage to Gold Price Should Benefit Companies
Source: Seeking Alpha (1/15/08)
Wellington West has hiked its annual gold price forecast for the next few years and beyond by $100 per ounce. The firmâs target for 2008 is now $800. It is $775 for 2009, $750 for 2010 and $700 for the long-term. The move reflects a weaker-than-expected U.S. dollar.
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Not Too Late for Gold
Source: Jeffrey Saut, Seeking Alpha (1/15/08)
...The longer the time that elapses between the breaking into new territory, the greater the move you can expect because the accumulative energy over a long period will naturally produce larger movements than if it only accumulated during a short period of time...
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