Price of gold rising again

After retreating to $1090/ounce in recent days it is rising rapidly at the moment...currently at $1112/ounce.

There are a lot of good reasons for the gold price to rise at the moment (including the Greek tragedy). If debt servicing problems happen in other European countries such as Spain, Portugal and possibly Italy the gold price could really soar.

From a newsletter I subscribe to (Diggers and Drillers) emailed today:-

"...the World Gold Council reported very strong gold demand from India and China so far this year. This matters because these are the two biggest gold markets in the world.

Last year India imported 7.9 tonnes of gold during February. The Bombay Bullion Association reckons that this February, imports are expected to be in the region of 30 -35 tonnes of gold. This huge jump shows a good support for gold and this rubs off onto other precious metals.

The IMF is looking for takers for another 200 tonnes it plans to sell, and speculation is rife that China would be interested. China has gone right off US bonds and needs somewhere to put its $2 trillion of reserves. Gold is no ones liability, and is the ultimate safe house. I think we can expect some exciting news about where this gold ends up in the near future"
 
nooooooo - i have to wait until monday to get fixed cost for a 21st birthday gold necklace. i buy it from a wholesaler who sells by the gram.
 
nooooooo - i have to wait until monday to get fixed cost for a 21st birthday gold necklace. i buy it from a wholesaler who sells by the gram.

Buy it and enjoy the giving.

If the necklace has half an oz of gold (unlikely) the daily fluctuations would be $3 max. I spend multiples of that on beer each day. Relax.
 
The IMF is looking for takers for another 200 tonnes it plans to sell, and speculation is rife that China would be interested. China has gone right off US bonds and needs somewhere to put its $2 trillion of reserves. Gold is no ones liability, and is the ultimate safe house. I think we can expect some exciting news about where this gold ends up in the near future"

The World Gold Council is an organization of gold sellers, it's like believing an REA association when they tell you there's only "700" rentals left.

And why would the IMF be selling it if it was so valuable?
So here's the backroom story.
The IMF has a **** load of gold to get rid of for the next few years.
So all of a sudden the world is flooded with "expert reports" that gold prices will "soar".
As gold starts increasing as the early ones and insiders get in.
As gold goes up more people are lured into gold fever, and more "expert reports" come out.
Of course adding to the "expert reports" are the commision makers & brokers like Schiff.
And of course once the big boys get in, you start seeing press releases from people like Rodgers, Soros, Buffet pumping their holdings.
One round has gone, where people bought, and then wiped out.
This is round 2.

Remember the principle of the markets:
"Those with the money end up experience and those with the experience and up with the money".

Good luck with the gold digging.
 
Top