Bloomberg.com: Canada: "Gold Heads for Largest Quarterly Gain Since 1999 on Fund Demand
March 31 (Bloomberg) -- Gold headed for its biggest quarterly gain since 1999 as investment funds bought the metal and other commodities on speculation they will continue to outpace other securities such as equities.
Gold, which yesterday traded at a 25-year high, gained 18 percent 2006, beating the 3 percent increase posted by the Standard & Poor's 500 Index of U.S. companies. The amount of money in index-linked commodity funds will rise 38 percent this year to $140 billion, according to Barclays Capital.
``We are seeing demand from funds,'' said Friedrich Kernstock, an analyst at Kernco Metal Trading GmbH in Vienna, Austria. ``Gold will continue to move up steadily and could reach $650 by year end.'' "
Friday, March 31, 2006
Thursday, March 30, 2006
Commodities: Gold and silver surge on bets against U.S. securities - Marketplace by Bloomberg - International Herald Tribune
Commodities: Gold and silver surge on bets against U.S. securities - Marketplace by Bloomberg - International Herald Tribune: "SEATTLE Gold and silver prices surged Thursday, hitting their highest level since the early 1980s, as investment funds bet that precious metals would lead U.S. stocks and bonds. Platinum and palladium also gained.
Gold has gained about 12 percent this year, and silver has soared roughly 30 percent, outpacing a 4.4 percent rise in the Standard & Poor's 500 index.
'Precious metals are booming,' said Herwig Schmidt of Triland Metals in London. 'If you have a huge amount of money and limited commodities, this is what happens"
Gold has gained about 12 percent this year, and silver has soared roughly 30 percent, outpacing a 4.4 percent rise in the Standard & Poor's 500 index.
'Precious metals are booming,' said Herwig Schmidt of Triland Metals in London. 'If you have a huge amount of money and limited commodities, this is what happens"
Monday, March 27, 2006
Gold Forecast - HIGHER
Metals Stocks Climb on Price Forecast: Financial News - Yahoo! Finance: "Research analyst John H. Hill offered a litany of reasons for the forecast.
Metals have 'shrugged off interest rate jitters, intermittent oil and gas selloffs, multiple bouts of profit-taking, seasonal demand slowdowns' -- among other headwinds -- 'and appear to be entering the sweet spot of the commodity supercycle at extremely high price levels,' he said in a client note.
The brokerage's metals unit raised its commodity price estimates substantially for copper and nickel and upped projections modestly for aluminum and gold."
Metals have 'shrugged off interest rate jitters, intermittent oil and gas selloffs, multiple bouts of profit-taking, seasonal demand slowdowns' -- among other headwinds -- 'and appear to be entering the sweet spot of the commodity supercycle at extremely high price levels,' he said in a client note.
The brokerage's metals unit raised its commodity price estimates substantially for copper and nickel and upped projections modestly for aluminum and gold."
Sunday, March 19, 2006
China to open theme park dedicated to gold - Yahoo! News
China to open theme park dedicated to gold - Yahoo! News: "BEIJING (AFP) - Gold-hungry China plans to open what it has billed the world's first theme park dedicated entirely to the precious metal, state media reports.
Construction of the theme park kicked off Saturday near a working mine at Rushan city, east China's Shandong province, the Xinhua news agency said.
When the 3.6-square-kilometer (1.4-square-mile), 200-million-yuan (25-million-dollar) park is completed, it will allow visitors to watch gold being mined and processed.
It will also include a DIY area where the visitors themselves can be gold miners for a day, according to the agency.
China is the world's third-biggest market for gold after India and the United States, according to the World Gold Council, an industry organization.
Last year, Chinese demand for gold rose eight percent to more than 250 tonnes, the council's data showed."
Please visit our website to view some stunning California gold nuggets.
Construction of the theme park kicked off Saturday near a working mine at Rushan city, east China's Shandong province, the Xinhua news agency said.
When the 3.6-square-kilometer (1.4-square-mile), 200-million-yuan (25-million-dollar) park is completed, it will allow visitors to watch gold being mined and processed.
It will also include a DIY area where the visitors themselves can be gold miners for a day, according to the agency.
China is the world's third-biggest market for gold after India and the United States, according to the World Gold Council, an industry organization.
Last year, Chinese demand for gold rose eight percent to more than 250 tonnes, the council's data showed."
Please visit our website to view some stunning California gold nuggets.
Tuesday, March 14, 2006
Gold Price Higher in 2006
Banking group Standard Chartered said on Tuesday that despite gold price jitters and stagnation in the gold price in its recent range between $550 a troy ounce and $570/oz, a growing acceptance of higher prices would allow further price increases in the second half of 2006.
Please visit our website to view some stunning California gold nuggets.
Please visit our website to view some stunning California gold nuggets.
Saturday, March 11, 2006
Top Financial Firms - Gold Price Predictions for 2006
Merrill Lynch has upgraded its gold price forecasts by 19% to US$525/oz in calendar 2006, as reported by Reuters in an article titled Gold seen marching into 2006 with fanfare
UBS raised its 2006 forecast for gold to $520. UBS said in a report in the Australian Investment Review "Gold's fundamentals also look stronger than previously expected, as supply and demand fundamentals and investment demand all appear stronger than previously anticipated."
Statements below are from By Jim Jubak MSN Money Markets Editor 2/15/2006 7:36 AM EST
Gold is in short supply in the world -- physical demand for gold for jewelry in 2005, thanks to growing demand from India, amounted to 110% of global gold production. (Re-melting old jewelry and sales from the gold stockpiles of the world's central banks made up the difference.)
Please visit our website to view some stunning California gold nuggets.
UBS raised its 2006 forecast for gold to $520. UBS said in a report in the Australian Investment Review "Gold's fundamentals also look stronger than previously expected, as supply and demand fundamentals and investment demand all appear stronger than previously anticipated."
Statements below are from By Jim Jubak MSN Money Markets Editor 2/15/2006 7:36 AM EST
Gold is in short supply in the world -- physical demand for gold for jewelry in 2005, thanks to growing demand from India, amounted to 110% of global gold production. (Re-melting old jewelry and sales from the gold stockpiles of the world's central banks made up the difference.)
Please visit our website to view some stunning California gold nuggets.
Friday, March 10, 2006
2006 Gold Price Predictions
"James Turk, the founder of GoldMoney.com, and expert on gold was on Canadian Television this week predicting the gold price would hit US$600 in the first quarter of 2006, and US$900 before the end of 2006.
Bill Murphy of GATA.org (Gold Anti-Trust Action Committee), predicts the gold price will reach US$1,000 an ounce by the end of 2006.
When considering these gold price predictions for 2006 it is worth keeping in mind that in today's $ based on inflation gold would have to hit $2200US to be equal with the all time high of $875 reached in 1981.
Newmont Mining's President Pierre Lassonde has publicly declared he expects prices to be around $525 in January 2006. Newmont's president said gold 'may rise to more than $1,000 an ounce in the next five to seven years as demand growth driven by Asia outstrips global supply.'
Please visit our website to view some stunning California gold nuggets.
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