Streetwise Articles
Gold Holding Steady Above $800
Source: Reuters (12/11/07)
“Prices are likely to remain in consolidation mode ahead of the Fed rate decision. However, investor sentiment remains positive towards the metal and should support prices in the forthcoming sessions,” said Suki Cooper, precious metals analyst at Barclays Capital.
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Gold Consolidates as It Awaits US Fed Decision
Source: Mineweb.com (12/10/07)
"When the payroll is better, they may not cut so aggressively. However any rate cut will be good for the precious market. It will add excess liquidity," according to William Kwan, a dealer at Phillip Futures in Singapore.
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More Gold in Auto Catalysts?
Source: Mineweb.com (12/10/07)
World Gold Council (WGC), the organisation responsible for driving global demand for gold, and Nanostellar, a leading-edge developer of emission control technologies, have agreed to a long-term strategic partnership to enable the introduction of gold into the auto catalyst market.
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Heightened Gold Volatility Expected in 2008 as Gold Moves Towards $900
Source: Mineweb.com (12/10/07)
It is argued that it would be a great surprise if gold did not rise to $900 ounce during the year and that if the background macro-economic circumstances in the US and a weaker dollar fail to take gold to $900 then it would be a strong indicator that it has reached a new historic ceiling.
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RBC Boosts Majority of Gold Producers' Price Targets
Source: Seeking Alpha (12/9/07)
RBC Capital Markets' forecast for gold jumped $50 per ounce for both 2008 and 2009, to $780 and $810, respectively.
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Gold Quirk: It's Volatile but Holders Feel Secure
Source: The New York Times (12/8/07)
Gold has a long history of waxing and waning in allure. At the moment, it holds a particular attraction, given Americans’ worries about inflation, the risks in the financial market and the falling value of the dollar.
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New York Gold Rises After Initially Falling on Jobs Data
Source: Reuters (12/7/07)
At 8:42 a.m. EST (1342 GMT), most-active gold for February delivery GCG8 on the COMEX division of the New York Mercantile Exchange was up $2.50 at $809.60 an ounce. Just before the jobs report, it had been down $3 at $804.10.
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Soaring Markets
Source: Mary Anne & Pamela Aden, The Aden Forecast (12/7/07)
...this bull market rise is still lacking investor and Wall Street enthusiasm. That's still to come and we think that'll probably happen once gold hits a new record high above $850...
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RBC Analysts Raise Silver Estimate
Source: Seeking Alpha (12/7/07)
With silver equities trading at levels considered a discount to long-term silver prices, RBC Capital Markets expects they will recover and trade up from the lower end of valuation ranges they experienced in the past few months. The firm’s long-term forecast for silver is $12 to $13 per ounce, while the current spot price is roughly $14.25.
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How the "Carry Trade" and Capital Tsunamis Are Pushing the Gold Price Up
Source: Julian D.W. Phillips, Gold Forecaster - Global Watch (12/7/07)
The gold price has not only been reacting to the absolute levels of the oil price and the fall of the $, but to the instability, uncertainty and downright fear in the Capital markets and the banking system.
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Gold: Consolidation Is the Best Way Forward
Source: Mineweb.com (12/6/07)
The prognosis is positive for the New Year, but with the year-end approaching there is a distinct possibility that there is more position cutting to be done. There is increasing resistance at $800, both on a psychological and technical basis.
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Are You Positioned to Profit from the Next Gold Leg Up?
Source: Jason Hamlin, Seeking Alpha (12/5/07)
...the technicals for gold and gold stocks are looking very strong at the moment, and all signs point to a resumption of the uptrend in the coming few weeks...
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Could Rising Costs Jeopardize Existing Mining Projects?
Source: Seeking Alpha (12/5/07)
Because of the high costs and risks associated with large Greenfield projects, UBS mining analysts, Tony Lesiak, Alec Kodatsky and Brian MacArthur, figure there will be more industry consolidation, especially given the valuation gap between the bigger and smaller players.
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Copper and Gold Ratio Breaking Down: A Rare and Scary Event
Source: Mineweb.com (12/5/07)
BCA Research argues that the current breakdown in the CGR ratio suggests that more liquidity is needed to reflate the global financial system and keep the economic expansion on track.
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Gold Climbs Above $800 An Ounce
Source: RTT News (12/4/07)
Investors are looking ahead to the Federal Open Market Committee meeting on Dec. 11. Many experts expect to see an interest rate cut for the third straight meeting. The question has become whether the Fed will elect to slash rates by either 25 or 50 basis points. Gold has soared to its highest level in 27 years, helped by the last two rate cuts.
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Government-Think
Source: Ed Steer, Casey Research (12/4/07)
Ed Steer, a diligent researcher and Director of Gold Anti-Trust Action Committee, relates his meeting of Larry Lindsey, a former advisor to the president. . . .it confirms what we of Casey Research have been saying for years: don’t expect the government to find a way out of the financial mess the country is in; instead, buy gold and safe gold investments for the rainy day that is sure to come.
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A Case Emerging for Central Banks Buying Gold
Source: Thomas Kelly, Seeking Alpha (12/3/07)
A move to increase gold holdings by China appears to be a question of when rather than if...When China starts buying, gold will begin the next leg up in its bull run.
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Grandich Looking to Go Shopping for Mining and Exploration Stocks
Source: FP Trading Desk (12/3/07)
Mr. Grandich says shares of most mining and exploration companies are not even close to full valuation when compared to metal prices of the past. He thinks tax-loss selling in this sector could continue in the next week or two, but is looking to do some shopping there himself.
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China May Pass SA as World's Leading Gold Producer This Year
Source: Mineweb.com (12/3/07)
For the first nine months of 2007, China's gold production totalled 191.5 tonnes, which was just behind South Africa's declining total of 192.7t, and could overhaul the latter in the final quarter of the year.
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Five Factors to Consider When Choosing Mining Producers
Source: Neville Maycock, Seeking Alpha (12/2/07)
As far as picking mining stocks that are producers go, I have a few criteria that I look for. They are: management; variety in metals being mined; cash costs; mine life; and exploration properties.
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Gold Continues Below $800 As Oil Prices Fall, Dollar Firms
Source: Thomson Financial (11/30/07)
While the majority of analysts believe gold will break its 1980 record of 850 usd per ounce in the medium term due to the weak dollar and a possible slowdown in the US, gold prices have been fluctuating dramatically since breaching the 800 usd mark at the beginning of November.
The Gold Price Is Not Discounting the Full $ Story
Source: Julian D.W. Phillips, Gold Forecaster - Global Watch (11/30/07)
The foreign exchange markets are not solely about exchange rates. They are about values, smooth flowing of international trade, about trust and reliability. The sight of the $ falling over a long period of time, with bounces and recoveries that don’t change the downward trend is far more than simply a drop in value!
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JOHN EMBRY: “I Can't Think of a Better Time to Buy Juniors”
Source: The Gold Report (11/29/07)
The Gold Report caught up with John Embry, Chief Investment Strategist, Sprott Asset Management, to get his thoughts on gold and some mining stocks he favors. Embry, an industry expert in precious metals, has researched the gold sector for over 30 years. Read about why he says "given where the gold price has come and the way some of these juniors are trading, I think we’re being presented with another unbelievable opportunity."
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Anticipated Fed Interest Rate Cut Could Help Gold Price
Source: Mineweb.com (11/29/07)
National Bank Financial metals analyst Tanya Jakucsonek and associates Farooq Hamed and Joanne van Ballegooie assert that continued investment demand through gold ETFs and speculative positions will also drive demand for gold.
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Global Gold Hedge Book Contracts Again – But Only by 31 Tonnes
Source: Mineweb.com (11/29/07)
The latest hedge book analysis from Société Générale, using data independently compiled by GFMS Ltd., shows that the global hedge book in the gold mining industry again contracted in the third quarter of this year.
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