huntergatherer
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Posts posted by huntergatherer
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Gold downgraded to junk:
Gold Sheds 'Can't Lose' Status: Now, No One Wants It
“Long gold has been a winning trade for years. We expect the selloff in gold to gain momentum into 2012. Traders are finding better hedges, better safe havens, and better speculative commodity plays than long gold.”
“When an asset is thought to work in any market, that is the surest sign of a bubble,”“I believe we will hear about massive central bank selling to put currency in markets.”
The flagship fund run by Paulson, who’s received more accolades than anyone for profiting from the housing bust, is down more than 40 percent for 2011 at last count. With the recent drop in gold, it’s likely down even more, if he isn’t selling.
Unlike a stock, there are no earnings behind the metal. It’s only worth as much as what the next guy will pay for it.
“Bull markets climb a wall of worry,” “These sharp drops shake out the speculators and keep other would-be buyers on the sidelines. Once the weak longs are cleared out, the trip to $2,000 and beyond will resume unencumbered by excess baggage.”
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Silver Plummeting as Metals, Miners Decline
Spot silver down more than 6% Wednesday morning
Dec 14, 2011, 1:16 pm EST
“We have the beginnings of a real bear market, and the death of a bull (in gold),” said Dennis Gartman, who advised readers of his investment newsletter to avoid buying gold back in August.
Turning to stock exchange trading, gold and silver trusts were falling fast and hard.
•The SPDR Gold Trust (NYSE:GLD) was showing losses of more than 2.7%.
•The iShares Gold Trust (NYSE:IAU) was down around 2.9%.
•The iShares Silver Trust (NYSE:SLV) was falling sharply, down between 6% and 6.6%.
Gold and silver mining ETFs were following suit.
•The Market Vectors Gold Miners ETF (NYSE:GDX) was down about 4.6%.
•The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) fell about 5.25%.
•The Global X Silver Miners ETF (NYSE:SIL) was down some 6.2%.
Gold mining shares were showing sharp losses across the board.
•Agnico-Eagle Mines (NYSE:AEM) was showing losses of some 4.5%.
•Barrick Gold (NYSE:ABX) was down around 4.5%.
•Goldcorp (NYSE:GG) was showing losses of around 3.5%.
•Newmont Mining (NYSE:NEM) was around 3.25%.
•NovaGold Resources (AMEX:NG) was more than 5.8% lower.
Silver mining shares were taking it on the chin as well.
•Coeur d’Alene Mines (NYSE:CDE) was moving lower, down nearly 5.8%.
•Hecla Mining (NYSE:HL) was down more than 8.5%.
•Pan American Silver (NASDAQ:PAAS) was down more than 6.2%.
•Silver Wheaton (NYSE:SLW) was showing losses of 6.6%.
•Silver Standard Resources (NASDAQ:SSRI) was down more than 8%.
http://www.investorplace.com/2011/12/spot-gold-prices-spot-silver-prices-gld-miners/
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The low might be in........wait for it........four months time-5 April 2012 around $11-$16 per ounce according to this:
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Silver Forecast to Surge to $450 and Gold to $12,000
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Silver Forecast to Surge to $450 and Gold to $12,000
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Gold Drops; Silver Falls Off a Cliff
Sep 23, 2011
Silver prices collapsed on Friday, dropping by more than 17% at one point. Gold was also down by more than $100 an ounce at its low. A short-term rally should be expected soon, but there is now a certain amount of technical damage that needs to be worked off in the charts. Prices can still go lower.
The silver market had a major crash on Friday -- there is simply no other way to put it. Spot prices were down as much as 17.1% or $6.18 an ounce. Gold was damaged as well, but not nearly as much. At its worst, it was down 6.3% or $108.60 an ounce. Both gold and silver traded below previous lows set earlier this year.
The huge price drops in silver and gold can only be explained by substantial hedge fund selling that smacks of credit crisis panic. Both of these markets have risen on highly leveraged buying. Once a few overextended funds are forced to sell because of the financial turmoil in Europe, things can go downhill pretty fast. Stops get taken out and this causes more selling, which in turn takes out more stops and leads to more selling. After this, a rally will follow and there should be a test of the low. If it holds, then a sustainable rally can take place. We are not nearly at the point yet.
http://www.etfguide.com/research/662/23/Gold-Drops;-Silver-Falls-Off-a-Cliff/
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Are you deliberately and unnecessarily trying to cast a negative outlook for silver?
We will see if this holds true:
Silver Price Forecast $86.75 in 2011, Precious Metals Investment Strategies
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Commodities fall off a cliff.
The commodities move has cooled away, along with prices for gold and silver, oil and agricultural raw materials falling Friday following a record-breaking run earlier this week.A shock jump in China's rising cost of living rate spooked traders as well as started a clear, crisp sell-off Friday. China's declaration that customer costs in the country rose by 4.4% in October motivated worries that the world's second-largest economy is actually barrelling forward at an unsustainable speed.
Traders are worried that the Chinese government could increase interest rates, as a way to slow down staggering inflation. Since, the China is really a main consumer of raw materials that can lead to less interest in commodities across the board.Gold and silver plunged consequently. Arriving off almost every day record levels, precious metal dropped $37.80, or 2.7%, to settle at $1,365.50 an ounce on Friday. Metallic, which in fact had been striking 30-year levels, dived 5.3% in order to $25.94 an ounce. As well as copper, which was additionally rallying in order to multi-month highs, fell 2.8% in order to $3.91 a good ounce.
http://www.businesstoday-eg.com/markets/asia-pacific/commodities-fall-off-a-cliff.html
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Why do you always post negative stuff? Gold, Silver and the miners have been doing just fine better than almost all other assets yet you only ever post negativity.
The Paragon Report: Silver Demand Declines
Friday September 9, 2011 12:26 PM
The Paragon Report, a New York based independent research portal, notes that there is a marked drop in demand for silver due to slowing in global production. More than half of the demand in silver is generated through industrial applications. According to the report, Silver Wheaton (NYSE: SLW.TO) amended their 2011 production tally in response to a slower than anticipated production ramp-up at their Panasquito mine located in Mexico. Silver production declined from 28 million to 25 million silver equivalent ounces, including 15,000 ounces of gold. Meanwhile Silvercorp Metals (NYSE: SVM, TSX: SVM) saw a 31 percent increase in silver production costs during its most recent quarter. The company posted record fiscal revenues of US$69.7 million corresponding to a 90 percent increase from the last quarter.
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Gold Bankrupted Spain — and Could Bankrupt You
The glitter is enticing, but investors shouldn’t get greedy
Sep 3, 2011, 7:00 am
http://www.investorplace.com/2011/09/gold-prices-gold-bubble-gld-spy/
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Gold, Silver Down Sharply on News of Jobs, Stimulus Package
Trusts, mining ETFs and miners also broadly falling
Sep 7, 2011, 11:38 am
Gold and silver trusts were off sharply in exchange trading early Wednesday.
•The SPDR Gold Trust (NYSE:GLD) was off more than 4%.
•The iShares Gold Trust (NYSE:IAU) was down nearly 4.1%.
•The iShares Silver Trust (NYSE:SLV) was around 3.3% lower.
Gold and silver mining ETFs were moving lower as well.
•The Market Vectors Gold Miners ETF (NYSE:GDX) was around 1.8% lower.
•The Market Vector Junior Gold Miners ETF (NYSE:GDXJ) was down some 2.7%.
•The Global X Silver Miners ETF (NYSE:SIL) was off more than 1.6%.
Shares of gold miners were showing sharp losses, with NovaGold Resources especially hit hard.
•Agnico Eagle Mines (USA) (NYSE:AEM) was down 1.9%.
•Barrick Gold Corp. (NYSE:ABX) was down around 1.9%.
•Goldcorp (NYSE:GG) was around 1.8% lower.
•Newmont Mining Corp. (NYSE:NEM) was nearly 3.9% lower.
•NovaGold Resources (USA) (AMEX:NG) was off more than 6.7%.
Silver miners’ shares were also moving lower early Wednesday.
•Coeur D’Alene Mines Corp. (NYSE:CDE) was nearly 2.9% lower.
•Hecla Mining (NYSE:HL) was around 4% lower.
•Pan American Silver Corp. (USA) (NASDAQ:PAAS) was off nearly 2.5%.
•Silver Wheaton Corp. (USA) (NYSE:SLW) was down about 2.5%.
•Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) was around 3.5% lower.
http://www.investorplace.com/2011/09/gold-prices-silver-prices-jobs-stimulus/
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Silver Prices Drop As Global Economic Fears Rise
September 6, 2011 8:46 AM
Prospects of a global slowdown, perhaps even a worldwide recession, weighed on silver Tuesday, leading traders to bid down the price of the metal as well as shares of companies that produce it.
About half of silver's total world demand stems from industrial customers, so any sign of a slowdown in industrial activity hits silver assets particularly hard.
http://www.ibtimes.com/news/209189/20110906/forex/silver.htm
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Commerzbank expects silver price to hit $40 per troy ounce at the end of 2012
Commerzbank is keeping its forecast for silver prices unchanged because of worrying economic conditions and on concerns the metal could decouple from gold. In a research note, Commerzbank says silver recently could not profit from the rising gold price any more.
“We have therefore not increased our price forecast for silver and still expect an average silver price of $36 per troy ounce in the third quarter and $38 at year-end,” says Commerzbank. “Next year the silver price is likely to move along with gold. At the end of 2012 we expect a price of $40 per troy ounce.”
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July 18, 2011 6:22 pm
Silver regains its shine
Silver has regained its shine in recent days, as the notoriously volatile commodity – nicknamed “the devil’s metal” – has finally shaken off the memories of its 30 per cent plunge in early May.
The metal is up more than 20 per cent in a little over two weeks, on Monday hitting a two-month high of $40.70 a troy ounce. Much of that has been driven by capitulating silver bears, traders say, who have been forced to cover their bets on falling prices. The number of short positions in the US silver futures market fell to the lowest level this year, according to the US Commodity Futures Trading Commission.
“Silver is shrugging off the market’s bearish stance,” says Marc Ground, analyst at Standard Bank.
bad nasty silver
http://www.ft.com/cms/s/0/d0308a12-b160-11e0-9444-00144feab49a.html#axzz1SUXtdYEz
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Silver surfers have a narrow escape as prices plummet
Some city-based bullion dealers had a narrow escape after the recent crash in silver which fell 30% since it hit a high of Rs 75,770 a kilo on April 25. The dealers booked silver through banks on a consignment basis or imported the metal directly to meet insatiable retail demand.
But, as prices plummeted, scores of investors lost their shirts, forcing some to renege on commitments to lift the metal. This left dealers staring at huge unsold inventory, which some said even threatened their financial solvency. However, luckily, the dealers had hedged themselves on local futures bourses by selling the silver they ordered.
The hedges effectively offset their losses in the spot market , and later they offloaded the silver on the futures market.
http://cnbusinessnews.com/silver-surfers-have-a-narrow-escape-as-prices-plummet/
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Silver surfers have a narrow escape as prices plummet
Some city-based bullion dealers had a narrow escape after the recent crash in silver which fell 30% since it hit a high of Rs 75,770 a kilo on April 25. The dealers booked silver through banks on a consignment basis or imported the metal directly to meet insatiable retail demand.
But, as prices plummeted, scores of investors lost their shirts, forcing some to renege on commitments to lift the metal. This left dealers staring at huge unsold inventory, which some said even threatened their financial solvency. However, luckily, the dealers had hedged themselves on local futures bourses by selling the silver they ordered.
The hedges effectively offset their losses in the spot market , and later they offloaded the silver on the futures market.
http://cnbusinessnews.com/silver-surfers-have-a-narrow-escape-as-prices-plummet/
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First gold dispensing ATM opens in the United Kingdom
http://www.bbc.co.uk/news/business-13998238
A gold bar vending machine has opened in the Westfield shopping centre in west London.
The machine, which follows others around the world including in Dubai and Germany, dispenses gold bars. Prices are updated every ten minutes as the gold market changes.
The company behind the venture, Gold to Go, put a mark-up on the price of gold but CEO Thomas Geissler insists it is a good investment for members of the public.
Gold prices are currently close to record highs of more than $1,500 (£940) an ounce.
However, economically challenged people failed at an intellectual level when asked their opinion on whether the gold bars would make a good gift or investment.
I suppose they couldn't work out what to do with them as they cannot wear them, eat them or live in them etc.
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Silver falls to Rs. 51,850 on heavy sell-off, gold down by Rs. 270
New Delhi, July 1, 2011
Both the precious metals, silver and gold tumbled today on heavy sell-off by stockists, amid a weakening global trend. While silver dropped by Rs. 850 to Rs. 51,850 per kg, gold took a plunge of Rs. 270 to Rs. 22,050 per 10 grams.
Trading sentiments turned bearish after gold declined in London on easing sovereign crisis in Greece, curbing demand for the metal as an alternative investment.
In additions, reduced offtake by jewellery makers and retailers at existing higher levels further dampened trading sentiments.
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Gold and Silver Stock Bottoms Likely Days Away
Jun 17, 2011 8:45 am
The sector will bottom in the coming days; look for it to coincide with a worsening of problems in Europe.
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Everyone is waiting for the end of QE2 and to see which way the wind blows.
Do you own any gold/silver? You seem to have an endless supply of bearish articles. BTW - It's OK to say no, I'm just curious of your position.
Probably not much different from most others on here.
Held Au since 2006 (house deposit fund put in) and bought Ag from 2008. Swapped 25% Ag after blow off top into Au near 32:1 which was good as able to buy additional Au at 2006 equivalent prices!
The bearish articles are there to challenge perceptions/sentiment.
From the article one could have highlighted:
though there were many who made money too by selling silver when its price was at its highest
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Bullion market yet to recover from silver shock
Published: Saturday, Jun 4, 2011, 10:33 IST
A month back, silver was the favourite of investors but, today, they are scared of it. The unusually high volatility in silver prices which fell from Rs75,000 a kg to Rs51,000 a kg in less than 45 days, has killed the spirit of investors.
The high volatility in silver prices and the stagnation in gold have forced investors to hold their plans to invest in bullion. Experts and traders say the demand for the precious metals has been falling for the past one month.
The drastic fall in silver prices stunned investors. A large number of investors lost a lot of money though there were many who made money too by selling silver when its price was at its highest. Now, however, investors are unwilling to buy precious metal for fear of losing money.
The impact of the silver crash has been such that even the wholesale and retail market has been hit with business coming down by 40% in the last couple of months. “There has been a fall of almost 30% to 40% in business as compared to the previous two months,” said Girish Choksi, former president, Choksi Market Association of Ahmedabad.
Natubhai Choksi, a wholesale ornament manufacturer and trader of the state, said they were to expecting silver prices to fall further to Rs48,000 per kg in the next couple of months. "The market, at present, is unpredictable," he said.
Another jeweller, Rohit Choksi, said, "The market is so volatile that nobody dares invest in silver. As for gold, nobody is investing in it because it is currently not profitable to do so."
http://www.dnaindia.com/money/report_bullion-market-yet-to-recover-from-silver-shock_1551023
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Well, it's happened, the £10,000 2-up 2-down Northern terrace is back.
Pugh's auction on 2nd June 2011, number 7 and number 9 Grange Street in Burnley were sold on behalf of the administrators for £8,000 and £9,500 respectively.
http://www.theauctionpeople.co/Lot/Manchester/20110602/119
http://www.theauctionpeople.co/Lot/Manchester/20110602/120
Some poor mortgage lender probably lent on them valued at £47,500 each back in February 2008 according to the land registry. The street looks like a prime mortgage fraud hotspot, too many double entries for the same house on the same date, but with different prices for me to believe otherwise.
http://www.houseprices.co.uk/e.php?q=grange+street%2C+burnley&n=100
Another 10 houses in Burnley at the same auction sold for between £10,000 and £20,000.
Apparently 12 Herbert Street which sold for £15,500 is tenanted and producing £4,420 per annum.
http://www.theauctionpeople.co/Lot/Manchester/20110602/141
Before your inner Rachman starts getting your chequebook out, tempted by that apparent 28.5% gross yield, remember that Burnley, while being in parts a rather nice faded industrial glory kind of place, in others is a racially divided hole.
Tenure: Long Leasehold
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Scrap Gold & Silver Trailer Ready For Market/Car Boot.
Is this a sign of a bubble and mania stage?
Particularly the inclusion of: 2x crowd control barriers!
GOLD
in Gold, FX, Stocks / Diaries & Blogs
Posted
Gold Price Free Fall
15 December 2011
http://goldnews.bullionvault.com/gold_price_121520111