World Gold prices

bambamconscious

Looking good till Novemer, anyone agree?

dunkamania

why november?

bambamconscious

Novemer-ish,
on the backing o continuing Oil prices, and a marginaly increasing stablity in the middle east, as well as such...

Hitchhiker's Guide to...

lol - i seriously hope you wouldn't base a serious financial decision on such flimsy rationale. You would be talking about a serious investment that has presumably taken you a lot of time to accumulate. A decision like that needs a fair bit of TLC (for your own sake).

dunkamania

bambamconscious wrote:

Novemer-ish,
on the backing o continuing Oil prices, and a marginaly increasing stablity in the middle east, as well as such...

Wouldnt increased stability in ME reduce oil prices and gold?

bambamconscious

no.
not to my knowledge.

silverharp

Normally gold does not do well during the summer and picks up in Sep-Oct. The only reason to buy gold is if you think there will be a problem with paper currencies or as a hedge in a larger portfolio of assets.
It is possible that oil could drop in the short term to 50-60$, this would cause gold to drop. If you don't already own gold, be careful of your entry price.
I'm long term bullish on gold, but who knows what can happen in the short term. Probably better to pay debts down first to be on the safe side.

Redlancer

I agree with this last post the only reason to invest in gold is if there is problems with paper shares. Gold is seen as a negative stock to offset share paper loss but other than this I would never invest in gold other than to hedge my bets

nimble75

silverharp wrote:

Normally gold does not do well during the summer and picks up in Sep-Oct. The only reason to buy gold is if you think there will be a problem with paper currencies or as a hedge in a larger portfolio of assets.
It is possible that oil could drop in the short term to 50-60$, this would cause gold to drop. If you don't already own gold, be careful of your entry price.
I'm long term bullish on gold, but who knows what can happen in the short term. Probably better to pay debts down first to be on the safe side.

Copper is an even better hedge than gold, and is in dwindling supply with HUGE worldwide demand.

Dilly1

IMF expects copper prices to start dropping again by next year. They say that the current prices are unsustainable, and may drop by upto 60% over next few years.

nimble75

Dilly1 wrote:

IMF expects copper prices to start dropping again by next year. They say that the current prices are unsustainable, and may drop by upto 60% over next few years.

"It's the one precious metal NONE of us can do without... and the one resource with the power and potential to stuff your pockets with cash like there's no tomorrow.

The metal is used quite literally everywhere...

You depend on it each day in more ways than you can count - your computer, television, and DVD player... receiving email and accessing the web... your telephone and cell phone... your mp3 player, car radio, and home theater. It even provides you with the electricity that's so vital to making it all work.

It's so crucial that our nation's attempt to solve our energy crisis - all our hopes of telling the maniacal president of Iran and that crackpot Chavez to go shove it - can't succeed without it!

I'm talking about the ONE commodity that - more than any other - created, enabled and continues to support all civilization: copper.

Copper is the metal responsible for taking mankind into civilization. No other metal comes close.

Copper was discovered 8,000 years ago. The Ancient Egyptians used copper to make saws, chisels, knives, dishes and trays. And in the time of the Roman Empire and Middle Ages, copper was being used in coins.

Today, if oil is the lifeblood of the world's economy, copper is the vascular system. Copper is used in everything from electronic gadgets to cars and toasters. More than 9,000 pounds of copper go into every Boeing 747, including 120 miles of wiring, according to the Arizona Mining Association.

But guess what.

Just like oil, demand for copper is skyrocketing.

And just like oil, the available supply of copper can't keep up with demand. Moreover, the current giant mines of copper are being completely stripped of their metal.

In fact, globally, economic copper resources are being depleted with the equivalent production of three world-class copper mines being consumed annually, meanwhile, copper demand is increasing by more than 575,000 tons annually and accelerating.

What's worse, discoveries of new huge copper mines simply haven't happened.

Natural resource experts now argue we've entered into an era of "Peak Copper," meaning production for copper will never exceed today's amount.

In fact, it's likely to fall. And that spells higher copper prices for eternity.

There might be gold in them thar hills, but it's China's voracious need for copper that's giving [copper producers] hefty nuggets of good news these days. - Smartmoney.com

"The lack of obvious new mining megaprojects is a key reason why many analysts believe copper prices will hover well above $1 a pound for at least several years." - Wall Street Journal

"Some metals are quite abundant, like iron and aluminum... But there are some metals that are only present in trace amounts, like copper, which is used a lot." - Thomas Graedel, Yale University Industrial-Ecology Professor

"Copper has exceeded even the most bullish analysts' targets and it is a futile exercise calling the peak [price]." - Stephen Briggs, investment bank analyst, SGCIB"

silverharp

Nimble 75 wrote- Copper is an even better hedge than gold, and is in dwindling supply with HUGE worldwide demand.


Mark Faber did a piece on copper recently and he showed that if it out performs for 3 years in a row it has a tendancy to under perform in the period after, so who knows

Remember gold is money and copper is a commodity, it's not logical to buy them for the same reason. In a deflation gold would hold up better then copper, if there was a financial crises gold would probably rise and copper would probably fall.