Streetwise Articles
Panning Market Volatility
Source: Mineweb (8/8/07)
Despite conventional wisdom, commodity and metal prices are not about to go into carnage mode.
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Spain's Central Bank sells Another 25 Tonnes of Gold
Source: Mineweb.com (8/7/07)
It had originally been suggested that the Bank of Spain would, having sold roughly 100 tonnes between February and June, stop there. Clearly this was not the case...
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Bullish New Gold Prediction $1000 an Ounce and Beyond
Source: Mineweb.com (8/7/07)
Any gold producers still holding hedge books, particularly if they are more than four years old, are holding a losing proposition as the utilisation of such a financial tool has been a seriously negative function for at least three years with the progressive rise in the gold price.
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China Can Become World's Number 2 Gold Producer in 2007
Source: Platts.com (8/6/07)
China could overtake Australia as the world's number three gold producer and might even dethrone US to be ranked second in 2007, China Gold Association said in a report, which commented on China's first half gold production performance.
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Another False Dawn for Gold?
Source: Mineweb.com (8/5/07)
...maybe not a false dawn, but perhaps the start of a move to the next gold price plateau unless there is some more heavy-handed action by monetary authorities to stabilise the dollar and keep gold in its cage.
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Gold Stocks Set to Glitter
Source: Canada.com (8/5/07)
Canada's gold stocks may glitter in the weeks ahead if jittery investors seek a safe haven in producers of the precious metal.
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World's Largest Gold ETF Hits Record Inventory
Source: resourceinvestor.com (8/4/07)
Bullion inventory of the world’s largest gold exchange traded fund (ETF), StreetTRACKS Gold Shares [NYSE:GLD], hit a record high of 506.7 tonnes last week despite slipping prices, possibly signalling resurgence of investor interest.
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Gold, Silver Head for Weekly Gains in London on Dollar Weakness
Source: Bloomberg (8/3/07)
The dollar has dropped 0.5 percent against the euro this week and may fall further after a government report that will probably show U.S. companies added fewer workers in July than in the previous month.
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Gold Bullion Inventory Reaches All-Time High
Source: Seeking Alpha (8/3/07)
On Wednesday, the inventory of gold bullion held by the streetTRACKS Gold Shares ETF (AMEX: GLD) reached a new all-time high at 507 tonnes...the rise in inventory tells a compelling story about how popular this fund has become in less than three years.
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Record Gold Dehedging Set to Slow
Source: Mineweb.com (8/3/07)
Dehedging by global gold mining companies cut the global hedge book by a record 15% or 5.4 million ounces to only 31.2 million ounces in the second quarter of 2007.
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A Step Towards a Structurally Higher Gold Price - U.S. Protectionism & Capital Controls
Source: Julian D.W. Phillips, Gold Forecaster - Global Watch (8/3/07)
As the move to keeping what nations have already Protectionism is in full swing. This will inevitably disturb the currency world, who quite rightly will look to something that will protect them from the rising volatility in the currency markets alongside seeping confidence from the U.S $. This ‘something’ will include gold and gold investments.
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Profiting From the Wall of Worry
Source: Doug Casey, Editor, International Speculator (8/3/07)
In this article, I want to address what stage of the market cycle resource stocks are in, why, what’s likely next, and what you should do about it.
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Gold, Silver Uptrend Still Intact: Natixis
Source: Mineweb.com (8/2/07)
...Investors are therefore likely to take comfort from the fact that, should profit taking materialise, any subsequent dip in the gold price should be relatively short-lived as underlying physical demand remains positive...
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Gold Price Support of Dehedging "could falter" in H2 2007
Source: London (Platts) (8/2/07)
A more than likely decline in gold dehedging in the escond half of 2007
-- whether through maturing contracts or buybacks -- means price support lent in Q2 by dehedging "could consequently falter," according to Edel Tully, head of precious metals research at Mitsui Global Precious Metals...
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Gold Futures Post a Modest Gain, Close Below $680
Source: MarketWatch (8/2/07)
Even so, "the gold bears have thrown everything at gold including the kitchen sink, but can only get it to bend," said Peter Grandich, editor of the Grandich Letter, in emailed comments. "At the end of the day, gold is the ultimate currency and that's why we see great physical demand despite an obvious capping of gold by the bears."
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Rich Investor, Poor Investor
Source: David Morgan, Silver-Investor.com (7/30/07)
What does Robert Kiyosaki, author of the best-selling Rich Dad, Poor Dad like now? He is looking at the commodity markets, specifically oil and — sit down for this one — the precious metals. That is correct — yet gold and silver are investments that are still out of favor with most of the investing public.
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Gold, Commodities Holding Up Well During Selloff
Source: Seeking Alpha (7/30/07)
Despite histrionic warnings from some quarters, gold traded off less than 5% during the downturn, while most broad-based commodity futures funds are flat.
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Why the Gold Sell-Off is Unlikely to Last
Source: Seeking Alpha (7/29/07)
I can understand gold stocks being temporarily dragged down with the broader market, but all of the money that comes out of blue chip, and tech stocks will need a new home, and a portion of this will eventually move towards gold and energy.
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European Central Bank Gold Sales Slow Price Increase
Source: Mineweb.com (7/29/07)
The more often high levels of European Central Bank gold sales seem to take place just as the gold price appears to breaking out of its trading range, the more likely it seems to some market observers that this is all part of an effort to keep the gold price subdued and, to an extent, support the weakening US dollar.
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Base Metals Bears
Source: Casey Research: David Galland (7/27/07)
Although base metals bears contend that the supplies of base metals coming onto the market will quickly reach the point where they’ll overwhelm demand, driving prices down, we think otherwise: the future is bright for all the natural resources.
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Gold Positive: Iran Wants Yen from Japan not the U.S.$ for Oil – Who and What Next?
Source: Julian D.W. Phillips, Gold Forecaster - Global Watch (7/27/07)
...If the oil producing nations of the world decided to use other currencies for oil payments then the global monetary system itself is undermined, making gold more attractive and long-term a safer place to hold one’s savings...
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Gold Shines in a Murky Environment
Source: Seeking Alpha (7/26/07)
Since my last, somewhat upbeat, article on gold bullion and gold stocks about five weeks ago they have come out of hibernation with a vengeance, with gold metal up by 3.8% and gold stocks (as measured by the HUI Gold Bugs Index) by 8.5%.
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Patience Pays Off
Source: The Gold Report (7/25/07)
Gold market enthusiasts, who had been urging skeptics to stay invested despite the sustained price lull, were vindicated by the recent move. Some even predicted that the latest high would prove to be the beginning of a breakout drive.
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The Monsoon Factor. What Impact on the Gold Price?
Source: Mineweb.com (7/25/07)
Some 66% of India's cultivated land area is directly dependent on the monsoon and so it impinges on local affluence and by extension, gold purchases.
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Golden Profits from the Chinese Trade Deficit
Source: Casey Files: David Galland (7/23/07)
In the final analysis, every day gold goes up and gold goes down, with the movements based on any number of inputs. To avoid being panicked one way or the other, a long-term perspective is required to see these fluctuations in their proper perspective.
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