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Commodities Briefing - Archive | August, 2011

Debate heats up over commodities holdings

Posted on 31 August 2011 by VRS  |  Email |Print

A battle is heating up over whether investors in oil and other commodities markets should be required to lift the veil of secrecy that shrouds their trading bets.
The debate has simmered in the three years since oil prices spiked to record highs in 2008, sparking concerns that speculators were driving the move. But it intensified in recent weeks after The Wall Street Journal published confidential regulatory data that identified some of the biggest players in commodities markets, and big chunks of their positions, during that historic rally……………………………………….Full Article: Source

OPEC Aug oil output nears 3-year high

Posted on 31 August 2011 by VRS  |  Email |Print

Christophe BarretOPEC’s oil output is expected to rise in August to its highest in almost three years due to an increase in Nigerian exports and smaller rises from Saudi Arabia and other Gulf producers, a Reuters survey found on Tuesday.
Supply from all 12 members of the Organization of the Petroleum Exporting Countries (OPEC) is expected to average 30.15 million barrels per day (bpd) this month, up from 30.07 million bpd in July, the survey of sources at oil companies, OPEC officials and analysts found……………………………………….Full Article: Source

Has peak oil come to the non-opec world? Maybe.

Posted on 31 August 2011 by VRS  |  Email |Print

The world’s biggest oil companies put in a pretty pathetic performance in the second quarter of 2011. Not in terms of earnings — those were great, with Exxon posting $10.7 billion and Royal Dutch Shell doing $8 billion. Just what you’d expect with Brent crude at a lofty $120 a barrel.
Where the results were disappointing was in the barrels. Of the 16 big U.S. and European oil companies studied by Deutsche Bank analyst Paul Sankey, 14 of them saw their production of petroleum decline in the quarter……………………………………….Full Article: Source

No crude oil demand dip means prices to rule firm

Posted on 31 August 2011 by VRS  |  Email |Print

While global equity markets underwent major corrections, crude oil prices have refused to ease so far. Whatever weakness was seen earlier in the month has disappeared, with Brent crude prices moving up into three-digit territory at $112 per barrel. The reason is a visible tightness in oil’s demand-supply dynamics.
Debt problems in the US and Europe and signs of slowing economic growth had softened oil prices earlier in August……………………………………….Full Article: Source

The Fed’s oil easing

Posted on 31 August 2011 by VRS  |  Email |Print

This post is going to address two fundamental points: 1) Why it might make sense for the Fed (or a respective government agent) to intervene in commodities. 2) Whether the Fed has indirectly already intervened and does this explain the mysterious WTI-Brent disconnect?
While we appreciate the above might be considered controversial, we would say exceptional circumstances call for exceptional reactions. What’s more, official mandates have hardly stopped other central banks from breaking them (ECB, ahem)……………………………………….Full Article: Source

Oil prices soar on Goldman rumor

Posted on 31 August 2011 by VRS  |  Email |Print

Oil prices rallied Tuesday in reaction to rumors that Goldman Sachs has purchased a massive quantity of oil and signs that the Federal Reserve may implement additional stimulus measures.
Brent crude oil for October delivery was gaining $2.11 to $113.99 a barrel and the October West Texas Intermediate (WTI) light sweet crude contract was adding $1.66 to $88.93……………………………………….Full Article: Source

Four short-term possibilities for gold prices

Posted on 31 August 2011 by VRS  |  Email |Print

What will gold prices do in the short term? There are four possibilities, but only one suggests that buying now is a good option.
A fast 11 percent correction over two days and then a sudden rebound to recover about half of those losses; that essentially sums up the trading action in gold over the past week. After rising relentlessly for seven straight weeks, the yellow metal finally saw a meaningful correction that took prices down by the most since December 2008……………………………………….Full Article: Source

Galluping gold

Posted on 31 August 2011 by VRS  |  Email |Print

So according to Gallup, one in every three Americans now thinks gold is the best long-term investment. Kinda makes you wonder where the other two US citizens have been investing since the start of last decade…
“Which of the following do you think is the best long-term investment?” asked Gallup in its telephone survey of 1008 adults. You only need eyes to see……………………………………….Full Article: Source

What could lie ahead for the S&P 500 & Gold

Posted on 31 August 2011 by VRS  |  Email |Print

Now that Mr. Bernanke’s speech is old news, what was the financial media thinking exactly? A significant number of financial writers have been anticipating discussion of QE III or QE III Lite which clearly were never even on the Fed Chief’s radar this week.
The focus of the Jackson Hole Summit was how to achieve long-run growth, not conduct discussion of monetary policy……………………………………….Full Article: Source

Volatile gold prices hit Indian jewelry demand

Posted on 31 August 2011 by VRS  |  Email |Print

Buying of gold jewelry has turned weak in India in the past week as the price of the yellow metal fluctuated sharply, but purchases may pick up from next week on expectations that prices will go up during the peak festival season, traders said Tuesday.
Few consumers ventured to buy ahead of the Hindu festival of Ganesh Chaturthi on Thursday, which is mostly celebrated in western India. The main festive season, when gold buying usually accelerates, begins in October and will culminate with the festival of lights, or Diwali, on Oct. 26………………………………………Full Article: Source

“Gold price is an absurdity waiting to correct”: Mirae Asset

Posted on 31 August 2011 by VRS  |  Email |Print

US stocks are “massively undervalued” and will outperform Gold says John Wadle of Mirae Asset after showing the spread chart of SPDR Gold Trust and SPDR Dow Jones Industrial Average ETF. The premium between these funds is at its highest since November 2004.
“Gold is now a bubble compared with U.S. blue-chip stocks” Wadle said, as reported by Reuters. US equities are “massively undervalued” on the basis of a future dividend yield of 3% as against gold which yields no dividend and has a high storage cost, he adds……………………………………….Full Article: Source

All miners aren’t created equal

Posted on 31 August 2011 by VRS  |  Email |Print

Goldwatchers were reminded gold’s volatility works in both directions last week, with prices falling more than $100 an ounce in just one day. We forecasted the selloff during the previous week, explaining a 10% correction would be a non-event.
Once again the CME Group hiked the exchange’s margin requirements for gold investment to shake out overleveraged speculation. This is a positive for long-term investors……………………………………….Full Article: Source

Copper prices have fallen from a high of $10,000 to $9000

Posted on 31 August 2011 by VRS  |  Email |Print

Speculators have become net short on Comes Copper futures with 2751 short positions last week as against 117 long positions, latest data from Commodity Futures Trading Commission (CFTC) showed.
This is the first time since October 2009 that the speculator group has become net short on copper. Speculators were net long a week earlier with 2536 longs and 332 shorts……………………………………….Full Article: Source

Gold ETNs provide case study in monthly leverage

Posted on 31 August 2011 by VRS  |  Email |Print

After months of steady appreciation, gold has been on a bit of a wild ride over the last week or so. The precious metal has climbed to new heights repeatedly in 2011, thriving off of rising anxiety surrounding global equity markets, flights to safety after unprecedented downgrades, and even some weakness in the U.S. dollar.
But last week gold encountered a rather rough patch that lent some credence to the notion that prices have inflated to bubble levels over the last few months. Investors fled gold ETFs in droves, taking profits generated during the run-up and jumping back into risky assets that have been battered by the wave of general risk aversion……………………………………….Full Article: Source

Top 10 agricultural commodity ETFs

Posted on 31 August 2011 by VRS  |  Email |Print

Our goal in this profile is to help investors wade through the many competing ETF offerings available. Using our long experience as an ETF publication, and nearly 40 years in the investment business, we can help select those ETFs that matter and may or may not be repetitive. The result is a more manageable list of issues from which to view and make selections.
With inflation pressures waxing and waning, many believe it’s important to have exposure to direct agricultural commodities……………………………………….Full Article: Source

Yuan hits record high versus dollar, up 7pct since depegging

Posted on 31 August 2011 by VRS  |  Email |Print

China’s yuan hit its all-time trading peak versus the dollar in early trade on Tuesday, after the People’s Bank of China set another record high mid-point, with traders predicting further rises for the rest of the year.
Traders said the government was apparently using the yuan’s exchange rate to help fight high inflation as well as help improve China’s economic structure and raise the yuan’s global status……………………………………….Full Article: Source

Growth in South Africa? Go North…

Posted on 31 August 2011 by VRS  |  Email |Print

Some call it CIVETS; others call it BRICS. But whatever the grouping of emerging market darlings in which South Africa now falls, one thing is clear: As the biggest economy of Sub-Saharan Africa (SSA), it is a country capable of catapulting the growth of the entire region.
But is South Africa at risk of losing ground in SSA’s “economic renaissance” to China and the other growth-hungry BRIC markets of Brazil, Russia and India? That question was posed in a recent analyst note from Deutsche Bank……………………………………….Full Article: Source

Funds boost bullish agriculture bets as yields may slump

Posted on 30 August 2011 by VRS  |  Email |Print

Chris NagelSpeculators increased bullish bets on agricultural commodities to the highest level since early May after adverse weather eroded yield prospects for corn and soybean crops in the U.S., the world’s top grower and exporter.
Hedge funds and other speculators raised their net-long positions across 11 agricultural futures and options by 15 percent to 776,774 contracts in the week through Aug. 23, government data compiled by Bloomberg show……………………………………….Full Article: Source

Hedge funds piling into agricultural futures

Posted on 30 August 2011 by VRS  |  Email |Print

Hedge funds and large investors increased their bullish bets on agricultural commodities to the highest level since early May as adverse weather continues to erode yield prospects for corn and soybean crops. They raised their net long futures position by 13 percent to 804,000 lots with gains primarily seen in soybeans, wheat and sugar.
Across all sectors they added 69k lots to a new three week high of 1,149k lots with gains in the above commodities only partly offset by reductions in energy, metals and meats……………………………………….Full Article: Source

The commodity investor: Finding sugar’s sweet spot

Posted on 30 August 2011 by VRS  |  Email |Print

Sugar prices have jumped nearly 50 percent since May, driven by production concerns in Brazil, the biggest producer and exporter of this commodity. For investors, this creates an opportunity in an important commodity that may not receive as much attention as crude oil, but which is nevertheless as much of a global commodity as its slick counterpart.
Sugar is important because of its dual-use applications: It is a commodity used for both agricultural purposes (as a food sweetener, additive, etc.); and in the energy field, specifically as a feedstock for sugar-based ethanol fuel production……………………………………….Full Article: Source

Solar may produce most of world’s power by 2060, IEA says

Posted on 30 August 2011 by VRS  |  Email |Print

Solar generators may produce the majority of the world’s power within 50 years, slashing the emissions of greenhouse gases that harm the environment, according to a projection by the International Energy Agency.
Photovoltaic and solar-thermal plants may meet most of the world’s demand for electricity by 2060 — and half of all energy needs — with wind, hydropower and biomass plants supplying much of the remaining generation, Cedric Philibert, senior analyst in the renewable energy division at the Paris-based agency, said………………………………………Full Article: Source

Big banks bet crude oil prices would fall in 2008 run-up

Posted on 30 August 2011 by VRS  |  Email |Print

Just before crude oil hit its record high in mid-2008, 15 of the world’s largest banks were betting that prices would fall, according to private trading data released by U.S. Senator Bernie Sanders.
The net positions of the banks undermine arguments made by Sanders that speculative trades on Wall Street drove oil prices in 2008, said Craig Pirrong, director of the Global Energy Management Institute at the University of Houston……………………………………….Full Article: Source

Iran playing active role in OPEC- Iran envoy

Posted on 30 August 2011 by VRS  |  Email |Print

Iran’s governor for Organization of Petroleum Exporting Countries (OPEC) said here Sunday that the Islamic Republic of Iran is playing effective and active role in that organization. Speaking to IRNA, Mohammad-Ali Kahtibi Tabatabaei said Iran is the second major producer and exporter of oil at the OPEC.
OPEC is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10-14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five founding members were later joined by nine other members……………………………………….Full Article: Source

Global LNG use to rise 12pct in 2011 on Japan nuclear outage: Bernstein

Posted on 30 August 2011 by VRS  |  Email |Print

Global liquefied natural gas demand was up 8.5% year on year in the first half of 2011 and is expected to grow by 12% for the whole year, driven by incremental demand from Japan, the United Kingdom and India, and continued growth from traditional buyer South Korea, Bernstein Research said Monday.
Japanese demand rose strongly in the second quarter of 2011 as LNG was the major substitute for the lost nuclear power following the March 11 quake and tsunami, the Bernstein analysts said ………………………………………Full Article: Source

Copper: Speculators net short first time since Oct 2009

Posted on 30 August 2011 by VRS  |  Email |Print

Speculators have become net short on Comes Copper futures with 2751 short positions last week as against 117 long positions, latest data from Commodity Futures Trading Commission (CFTC) showed.
This is the first time since October 2009 that the speculator group has become net short on copper. Speculators were net long a week earlier with 2536 longs and 332 shorts……………………………………….Full Article: Source

Aluminium demand to grow by 13pct in 2011: RUSAL

Posted on 30 August 2011 by VRS  |  Email |Print

Quoting strong fundamentals of Aluminium, RUSAL says that demand may grow by 13% to 46 million tonnes by 2011 and primary Aluminium production to grow approximately 9% to 46 million tonnes.
RUSAL is the world’s largest aluminium producer and one of the world’s major producers of alumina. China and the Middle East are expected to contribute to the growth of production while demand will be driven by the emerging markets of China, Brazil, India and Russia……………………………………….Full Article: Source

Bubble watch: China’s demand for gold push prices even higher

Posted on 30 August 2011 by VRS  |  Email |Print

Despite repeated warnings of a “gold bubble”, record gold prices have acted as a catalyst for investors to enter the gold market. Indeed, the words “gold bubble” are on the tips of many investors’ tongues, and despite the implications of such a bubble, there’s been surprisingly little slow-down in gold investments.
Are investors being dense, or do they prefer to walk the line, risking higher returns and the chance to pull out before the industry bubble implodes? All signs suggest the latter……………………………………….Full Article: Source

Is all that glitters gold?

Posted on 30 August 2011 by VRS  |  Email |Print

Gold has been the universal symbol of wealth since the dawn of civilization and there’s no reason to believe this will ever change. It was also used to back up the earliest monetary and banking systems.
The purpose of this article is to explore the allure of gold and what has been pushing prices higher. In the interest of full disclosure, I own physical gold. I bought it several years ago when I began to fear the consequences of the giant asset and debt bubbles that were building in the U.S. As a result, I follow the news and price movements of gold every day. Do your own research and consult with financial experts before making any investments……………………………………….Full Article: Source

Gold likely to top $2000 by next month: Swiss Asia Cap

Posted on 30 August 2011 by VRS  |  Email |Print

We might see gold touching USD 2,000 per ounce by September itself. We have seen recovery after a sell down, there was an aggressive margin increase in COMEX. The international bullion banks are putting additional pressure.
It signals to many people around the world that getting your money back home or outside the troubled Western Banks is a key going forward in protecting your wealth……………………………………….Full Article: Source

Gold sales in India may rise 25pct during festivals, jeweler says

Posted on 30 August 2011 by VRS  |  Email |Print

Gold demand in India, the biggest user, may surge 25 percent during the festival season this year as buyers expect prices to extend a record rally on haven demand, according to Rajesh Exports Ltd.
Purchases of gold jewelry, coins, bars and medallions may climb to 250 metric tons in the three months ending Nov. 30, compared with an estimated 200 tons in the same period a year earlier, said Rajesh Mehta, chairman of Rajesh Exports, India’s biggest jewelry maker……………………………………….Full Article: Source

The best ETF for a truly diverse approach to commodities investing

Posted on 30 August 2011 by VRS  |  Email |Print

There’s no shortage of ETFs and ETNs available on U.S. exchanges that offer exposure to a specific commodity and that high level of choice is good for investors. There also isn’t a dearth of ETFs that offer basket exposure to several commodities. Again, that’s a good thing.
At least it should be. The problem with many ETFs that take the basket approach to commodities, commonly known as commodity index ETFs, is that they aren’t all that diverse. Frankly, most are excessively weighted to a mixture of energy futures contracts meaning investors are basically buying an oil/natural gas ETF……………………………………….Full Article: Source

Crisil launches Gold Index to gauge ETF performance

Posted on 30 August 2011 by VRS  |  Email |Print

Ratings agency CRISIL has launched a Gold Index to track the performance of gold prices in the domestic market. This is the first index launched by CRISIL in the commodities space.
The objective of the CRISIL Gold index is to provide an independent, relevant and common benchmark for performance evaluation of investment products with gold as underlying investment, said a release from the ratings house……………………………………….Full Article: Source

India: Commodities may overtake equities in turnover

Posted on 30 August 2011 by VRS  |  Email |Print

Ever since the first national level commodity exchange was introduced in 2003, commodity exchanges have seen an exponential growth. In the last fiscal, the total turnover of the Indian commodity markets was approximately ‘112.52 trillion, an increase of more than 50% as compared to the year 2009-10.
Currently, the average monthly volume on the Indian commodity exchanges is ‘6 trillion……………………………………….Full Article: Source

Commodities will trend upwards: Mark Mobius

Posted on 30 August 2011 by VRS  |  Email |Print

Mark Mobius , Executive Chairman , Templeton EMs Group says a whole picture globally is that emerging markets will be the safest play. Why? Because they are growing at three times faster than the developed countries, their debt to GDP levels are lower, their foreign exchange reserves are higher.
Put this all together, you realise these are the places where you want to be. Now you cannot really pinpoint whether it is going to be Brazil or Turkey or Thailand. You have got to be diversified among these various countries because you can have volatility from one to the other……………………………………….Full Article: Source

Trade and invest in commodities in a volatile market

Posted on 30 August 2011 by VRS  |  Email |Print

Despite the hype about volume growth in the commodities market and its future, traders are finding it difficult to make money. In futures trading, people buy or sell contracts either to hedge risks as commercial producers or consumers of commodities or to seek gains as speculators or investors.
The futures trading market, which till some years ago, was associated with physical commodities like grains, livestock, coffee, sugar, cocoa, precious and industrial metals, among others, is today a much broader market for traders who now can either hedge or speculate. When we say gold prices moved up by 4% today, how many traders do you think made the most of this spike?………………………………………Full Article: Source

Fundamentals, speculation, and oil prices

Posted on 30 August 2011 by VRS  |  Email |Print

I was in Washington DC last week, arriving right after the earthquake and getting out of town just before Irene, to attend a conference on commodity markets at the Commodity Futures Trading Commission. Here are some of the remarks I made at the conference on the role of speculation and fundamentals in recent oil price movements.
But a separate issue I wanted to raise is that someone following such an investment strategy was buying not just crude oil contracts, but a variety of other commodity futures as well. For example, a fund following either index would have a long position in natural gas futures……………………………………….Full Article: Source

Swiss franc fades as risk appetite improves

Posted on 30 August 2011 by VRS  |  Email |Print

Safe-haven currencies like the Swiss franc stayed under pressure in Asia on Tuesday, following a solid performance in riskier assets overnight that drove commodity currencies sharply higher.
A combination of factors, including a 14 percent rally in Greek stocks sparked by merger news in the country’s battered banking sector and better-than-expected U.S. consumer spending data helped fuel risk appetite……………………………………….Full Article: Source

Europe’s crisis of currencies

Posted on 30 August 2011 by VRS  |  Email |Print

John Plender, a columnist at The Financial Times, seems mystified by something that has become obvious lately: Bond vigilantes are only going after countries that no longer have their own currencies.
In a column published on Aug. 16 he writes: “The underlying logic is that no country defaults on its domestic bonds if it retains the right to set the printing presses in motion……………………………………….Full Article: Source

Ozone seen as world crop threat

Posted on 30 August 2011 by VRS  |  Email |Print

Ground ozone levels in the U.S. Midwest could reduce soybean yields by10 percent, costing more than $1 billion in lost crop production, U.S. scientists say.
U.S. Department of Agriculture researchers say a five-year study using satellites and surface monitors found ozone levels above 50 parts per billion have caused damage to soybean crops in Iowa, Illinois and Indiana……………………………………….Full Article: Source

Commodity holds potential for investors with risk appetite

Posted on 29 August 2011 by VRS  |  Email |Print

Commodities are in the limelight again after the recent scare of a double-dip recession in the global markets. Activity in commodities goes up during a period of uncertainty in the global stock markets. Analysts believe every investor should have some exposure to commodities in an investment portfolio as it adds diversity and reduces the overall investment risk.
Investments in commodities can be made by day traders as well as medium to long-term investors……………………………………….Full Article: Source

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What BHP’s earnings report says about future commodity prices

Posted on 29 August 2011 by VRS  |  Email |Print

Catherine RawAlthough earnings season may be over for the most part, a couple of key international firms still have to give their most recent updates. One of the most important firms in the world for commodity investors falling under this category of companies is undoubtedly BHP Billiton, the world’s biggest mining company.
The Australian mining giant was put under the microscope Thursday, giving analysts its results and outlook for the future; neither of which disappointed investors……………………………………….Full Article: Source

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Gold: Bubble or not?

Posted on 29 August 2011 by VRS  |  Email |Print

Gold is an useless asset. It does not produce earnings, it does not pay dividends or interest, and it has few industrial uses. The only things it does well is look pretty. So why is everybody buying it instead of stocks, bonds, rental properties, or anything else that does produce an income stream?
There are two possible answers: Gold is undervalued even at its current price. Or herding behavior causes people to buy into a bubble……………………………………….Full Article: Source

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Investors warned about gold bubble

Posted on 29 August 2011 by VRS  |  Email |Print

Old prices may go up again, but investment advisers and regulators are warning investors to be careful about putting too much of their money in gold. As the stock market has vaulted up and down day after day, investors have fled to gold. But have all these investors chasing what they think is a secure investment created a bubble?
You bet your glittery gold bullion, says Wells Fargo Private Bank, which manages money for wealthy clients……………………………………….Full Article: Source

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Is gold in a bubble?

Posted on 29 August 2011 by VRS  |  Email |Print

Last week, Wells Fargo (WFC) issued a “Gold Bubble” warning and this week, the WSJ headlines screamed “Gold Rally Hits a Wall”.
The Wells article gave no reason for gold prices to be mispriced — other than the concern that people will sell in panic if prices go flat or decline. So, a decline will lead to further declines? And, this rise is only being caused by the rise itself? “Investors in gold are hoping that other investors will come along to bid up their holdings in the future,” Wells Fargo says……………………………………….Full Article: Source

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Gold’s rise evokes fear, greed and confusion

Posted on 29 August 2011 by VRS  |  Email |Print

Some guys are undoubtedly making money from gold. But right now it is kind of hard to spot the lucky ones from their faces. The tension and anxiety are all pervasive.
Last week turned bulls to nervous wrecks. Between July and August, gold gained $400. It rose 10% in six consecutive trading sessions, finally hitting $1,911 on Tuesday. Then on Wednesday, it crashed 5.6%, the steepest daily drop since March 2008. On Thursday, it fell further to $1,744. On Friday, it rose to $1,797……………………………………….Full Article: Source

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French bank ups gold forecast; sees $2,080/oz in 2012

Posted on 29 August 2011 by VRS  |  Email |Print

French bank BNP Paribas SA upped its gold price forecasts Wednesday, saying it expects gold to average at $2,080 a troy ounce in 2012, up from $1,600/oz previously forecast.
The bank also increased its average price forecast for 2011 to $1,635/oz from $1,510/oz, while predicting the metal average at $2,200/oz in 2013……………………………………….Full Article: Source

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Time to quit the gold party?

Posted on 29 August 2011 by VRS  |  Email |Print

Gold’s thunderous bull run came to an abrupt halt on Wednesday, raising questions about whether the precious metal is really the safe haven that investors believe it to be.
The price of gold had been rising sharply the amid global economic uncertainty triggered by the debt crises in Europe and America. Bullion reached a new high of $1,886.50 (£1,139) in London on Tuesday. But better-than-expected economic data and some profit taking saw $170 wiped off its value in a little over 48 hours. By the close of play on Friday, gold had recovered to $1,788……………………………………….Full Article: Source

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Platinum vs gold: Why platinum is more pricey & central banks only love gold

Posted on 29 August 2011 by VRS  |  Email |Print

Gold began soaring to new highs as the fears of another crisis, this time rooted in Europe, gripped the West. Over the past few weeks, and particularly after S&P downgraded US long-term debt, gold narrowed its gap with platinum, and even went past it.
This is not the first time gold has topped platinum, a metal 30 times rarer than gold, since the beginning 1990……………………………………….Full Article: Source

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Gold, silver stocks present great opportunities – Chen Lin

Posted on 29 August 2011 by VRS  |  Email |Print

Silver and gold are both precious metals, but they move at different times. Right now, the gold:silver ratio is a little bit over 40. Obviously, Sprott is more bullish on silver versus gold. I take a pretty even point of view. I like gold. I like silver. I know that historically the gold:silver ratio is much lower than it is right now.
I checked Chinese history and it’s about 10:1. Even China has much less gold than the rest of the world and is richer in silver. We could have a much lower ratio, which means silver would outperform gold going forward, but personally I’m betting evenly on gold and silver……………………………………….Full Article: Source

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Gold fund investors miss out on bullion’s bull run

Posted on 29 August 2011 by VRS  |  Email |Print

Hundreds of thousands of investors who invested in gold funds will be disappointed that their returns have not matched those on the actual metal.
The soaring price of gold has seen shrewd investors – who backed the trend early on – pocket massive returns. However, those who took the more mainstream course of buying gold funds have yet to reap the full rewards of gold’s bull run……………………………………….Full Article: Source

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