Well it's Monday and thanks to a weak dollar it has pushed up the price of Gold to around 920 per ounce up about 8 bucks. I think this is a great spot to get in at because I think it is inevitable that gold will hit $1000/oz before the year ends.
Second quarter earnings results should definitely play into the price of gold as blue chip companies get ready to release their earnings reports.
Sunday, July 5, 2009
Do debentures deserve a place in the world of Gold? Gold markets are very fickle. Everybody says buy gold but how and when is the best time to buy gold. Well now is a good time duh. It is trading at $930 per troy ounce and it should go up to $990 per ounce very soon. The mint has been talking about producing gold coins and this is affecting things as well. I am going to be buying more gold bullion this week. I will get getting some 100oz bars and some 10oz bars of gold bullion as an investment. I find investing in gold very satisfying.
Posted by Mike at 1:10 AM
Saturday, July 4, 2009
Whacky dollar values have affected the price of Gold. Today it is trading at around $931 which is down from it's previous high of $990. Investors fled gold after news of the US non-farm payroll figures. Gold's profile has been lifted constantly by bad economic times and causes it to be more attractive then ever. Gold pretty much went sideways in Asia. At present time there seems to be more upside potential in the dollar right now and that's why there aren't a lot of investors buying gold. August gold futures for barely moved. The demand for physical bullion has decreased from last month not sure why that would be. Gold has great long term funadmentals and might get some more action once this dollar situation settles down then maybe we could see it move back to $930. It appears to be a good deal at $930 but there isn't much % when it moves to $990 compared to other investment vehicles right now like the dollar. We will have to see what happens with India and China in the coming months.
Posted by Mike at 2:11 AM
Friday, July 3, 2009
Investing in gold bullion is a fantastic idea. The price of gold is set by its spot price. Most financial planners say that you should have at least 20% of your investment portfolio invested in gold. You can invest in physical bullion or you can request delivery of gold bars, coins, etc. You need to have a good place to store your gold bullion and make sure to protect it. The other way to buy gold is through an allocated account. This is safer than buying an ETF but both work. I think the price of gold will break $1000/oz in the next 6 months. I do not recommend buying physical bullion. Get your ownership on paper just stay away from gold equities and gold futures contracts. You do not want to gamble where gold is concerned. Both gold and silver are highly manipulated and poised for something big to happen. Warren Buffet said that he thinks we should get rid of the future market and this would help to stabilize the price of gold and sivler bullionmaking it an even better investment because it will be performing at the levels where it should be based on real supply and demand. It can be scary investing in something that is so heavily manipulated.
Posted by Mike at 2:23 AM