Streetwise Articles
Gold, Again, Becomes a Shield Against the Unknown
Source: The New York Times (9/23/07)
Gold is “an asset that people want to own as protection for risks they can’t really analyze and get their arms around,” said Mr. Schweitzer at JPMorgan. “That risk has gone up.”
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Gold Flying High, Silver Moving Too
Source: Mineweb.com (9/22/07)
...it has been interesting to note that in the recent gold price runup silver, which had been being left behind, is itself moving up more strongly again.
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Gold Hits 28-Year High as Dollar Touches Record Lows
Source: Reuters (9/21/07)
Gold hit a 28-year high on Friday as the dollar's continued slide to record lows versus the euro raised the metal's appeal to speculative investors.
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World Gold Council: Reported CBGA Sales Total Some 441 mt
Source: Platts (London) (9/21/07)
Central Bank Gold Agreement sales reported so far for the CBGA year --
which is almost over -- have totaled some 441 mt, according to the World Gold Council, in its update on gold reserves published last night.
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Gold Stampede Due on Soaring Price
Source: iAfrica.com (9/21/07)
Given the dollar's continued losses and the strength in the energy sector it looks as if gold will find further upside momentum in the coming sessions, potentially targeting $765 before more significant profit-taking is seen," said James Moore of TheBullionDesk in his London Bullion Report.
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Some Key Features in the Changed Gold-Positive Climate
Source: Julian D.W. Phillips, Gold Forecaster - Global Watch (9/21/07)
Some read the drop in interest rates in the U.S. will bring instant relief to the driver of the U.S. economy, the besieged U.S. consumer, but no such thing will happen until rates are much lower still and confidence restored.
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Central Bank Gold Agreement Sales Close to Annual Limit
Source: Mineweb.com (9/21/07)
Central Bank Gold Agreement (CBGA) sales have totaled about 441 tons just a few days before the current sales year comes to an end tomorrow.
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DRC Gold, Banro Proving up Four Potential Mines
Source: Mineweb.com (9/21/07)
Banro is proving up four major gold targets at Twangiza, Namoya, Lugushwa and Kamituga, all around old artisanal workings and a major source of small-scale gold mining over the years.
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Why Analysts Think Gold Will Rise Higher
Source: FP Trading Desk, Seeking Alpha (9/20/07)
Canaccord Adams expects gold will test and break above the May 2006 high of US$722.
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Gold at 27 Year High: Stocks Beginning to Celebrate
Source: Mineweb.com (9/20/07)
...Among gold stocks, however, only heavyweight Tier I, and the secondary Tier II, groups, were invited to the party, as investors still seem to be shunning intermediate Tier III stocks, and developers.
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$3400 Gold: Pipe dream or Possibility?
Source: Mineweb.com (9/19/07)
A short article in today's Times newspaper in the UK recounts that Christopher Wood, chief strategist at big Hong Kong broker CLSA (whose largest shareholder is France's Credit Agricole, the world's 7th largest bank by asset value) feels that "market ructions and a collapse of the dollar could send gold prices to $3,400 an ounce or more in the next three years."
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Mining Stock Prices May Suffer from Rising Costs and Flat Metal Prices
Source: Reuters (9/19/07)
A slowdown in earnings growth at mining firms is likely to accelerate amid rising costs and flat or weaker metals prices that threaten the industry's hefty margins.
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Fed Cuts, Dollar Drops and Gold Piles on the Pressure
Source: Mineweb.com (9/19/07)
...The contrarians would say that we are probably due a correction as the price may have risen too far too fast, but it seems the momentum is with gold at the moment and there could well be further gains yet before the price stabilises.
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How Silver Can Help Leverage Gold
Source: Roland Watson, Seeking Alpha (9/19/07)
...since October 2006 silver has been consistently outperforming the HUI. As of last week silver has been outperforming the HUI by a factor of 1.5 to 1.
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Gold, Silver Futures Gain on Expectations Fed Will Cut Rates
Source: Bloomberg (9/18/07)
...Gold futures for December delivery rose $2.20, or 0.3 percent, to $726 an ounce at 9:02 a.m. on the Comex division of the New York Mercantile Exchange.
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Setting A Minimum Gold Price Target
Source: Thomas Tan (9/17/07)
From a CPI standpoint, how high can gold go? If we conservatively only use the monthly close of peak gold price in 1980 at $700 (treating $887.5 as outlier and noise), we will get $1,650 (not $2,100). This $1,650 is the minimum price I am looking for in the not distant future.
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Shorter Term Outlook for Gold
Source: Seeking Alpha (9/17/07)
The general market and gold stocks have been behaving very well in anticipation of the next week’s Fed cut. We expect that after the coming cut, there will be a sell-on-the-news reaction on the market, including the gold stocks.
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Spanish Gold Move Boost for Buillion
Source: Financial Times (9/17/07)
Analysts said the end of Spanish sales could reduce next year’s central bank gold sales and improve sentiment in the bullion market just as the gold price is approaching a 26-year high.
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Platinum Better Long Term Than Gold
Source: Mineweb.com (9/17/07)
This comes as platinum supply and demand fundamentals are firm and platinum companies are set to grow production volumes.
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Silver Buying Opportunity on Relative Gold/Silver Price Pattern?
Source: Mineweb.com (9/16/07)
Every time in the past two to three years a significant price differential has opened up with gold outperforming silver, the latter has been quick to catch up again. If one feels that the gold price is going to remain in its current strong position, and indeed move up further, then silver could prove to be an even better buy if that pattern repeats itself.
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Stay Focused on the Glitter
Source: Seeking Alpha (9/16/07)
...At this stage I would be inclined to have about 66% exposure to the yellow metal with the balance invested in a basket of gold stocks such as the Merrill Lynch Gold and General Fund...
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Long Term Massive Bull Market
Source: Dr. Clive Roffey, Gold Action (9/16/07)
...gold has once again become the centre pivot of the currency system and there is a worldwide flight to protection...
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Gold Price Eases on Nervous Wait for US Fed Interest Rate Decision
Source: Reuters (9/14/07)
Gold fell on Friday as investors turned cautious about next week's rate-setting decision by the Federal Reserve, while Tokyo's yen-based futures edged up on a weaker yen.
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Miners Spend Billions to Wipe Out Bad Gold Hedges
Source: Reuters (9/14/07)
Gold miners are spending billions of dollars to unwind gold hedges taken out at prices well below today's heady levels of $700 an ounce and more, underscoring the risks in trying to predict bullion prices.
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Gold: The Investment Climate Changes
Source: Julian D.W. Phillips, Gold Forecaster - Global Watch (9/14/07)
More and more people will become gold investors. The price of gold today isn’t being driven by the simple demand and supply formulae of the typical commodity markets, it’s being driven by concerns over the present and future state of the global financial and monetary system.
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