Gold Prices Will Continue To Rise Next Week

As investors expected, gold prices will probably continue to rise next week. In the Kitco News Gold Survey, out of 34 participants, 22 responded this week. Of those 22 participants, 18 see prices up, while two see prices down and two see prices sideways or unchanged. Market participants include bullion dealers, investment banks, futures traders and technical chart analysts. Gold prices should continue to move higher because of the turmoil in Europe is so entrenched. If the European Central Bank has to expand its balance sheet to shore up ailing European economies, gold is likely to hit new records into 2012. Gold prices rallied sharply on Friday, supported by the dollar weakening and the stock market rallying. Market participants are keeping an eye on Europe after the Greek prime minister stepped down and Italy’s prime minister is planning to leave. Analysts at Brown Brothers Harriman said the political uncertainty appears to be easing gradually, with a technocratic government, that is a government run by people based upon how knowledgeable and skillful they are in their chosen field, slated to take over in Greece. Italy could see the same type of government in place next week following votes on austerity packages. Gold fell earlier in the week, that may have been related more to the problems regarding customer funds at now-bankrupt firm MF Global than to the near-term desirability of gold. Customer accounts have been moved to other clearing firms, but not all positions or monies have accompanied the move and that might have caused accounts that do not have sufficient margin to sell other assets to top off the accounts. Market watchers announced that seems to be the case in other markets besides precious metals, too, as prices for some commodities seem to be lower than fundamentally justified in the short-term. Click To See More Gold Info

Trading Market Activity Set Gold Higher

Trading market activity of bullish options in the Market Vectors Gold Miners ETF (GDX) has doubled over the past 10 weeks to near all-time highs. That’s likely to be a boon for gold miners. Today, Barrick Gold (ABX), GDX’s biggest name, reported third-quarter earnings rose 45% to a record level. Also, GDX’s second-largest holding, Goldcorp (GG), on yesterday its adjusted earnings rose 88%. The physical-backed SPDR Gold Trust (GLD) has gained 21%-plus in 2011. Meanwhile, GDX has lost more than 5% on the year and the small-cap focused Market Vectors Junior Miners ETF (GDXJ) has slumped by nearly 22%. Gold prices averaged $1,706 a troy ounce in the third quarter, up from $1,509 in the second quarter and $1,227 in the third quarter of 2010, according to HSBC Securities. Click To See More Gold Info

Gold prices hit record USD 1770 per troy ounce

The uncertainty on the further development of the debt crisis in Europe and the United States along with the sell-off in equity markets are going to the rainbow gold price. For the first time reached the limit of $ 1,770 per troy ounce (31.1 grams). Price nearest futures contract for gold in Asia climbed up to $ 1,774 per ounce than the profits surrendered. On the spot market, where gold is traded for immediate delivery, the price climbed to about $ 1,771 an ounce. From the last 20 trading days the price of the metal climbed to a record twelfth time already. Above the limit of $ 1700 received the gold for the first time on Monday. Since then, its price rose by more more than three percent. Over the last three years while the price of yellow metal as gold is nicknamed, has risen to double over the last decade to more than six times. Fears of escalating debt crisis in the eurozone and the U.S. economy fall into a new recession led investors since last week to sell risky assets such as stocks and commodities. Instead, seek a safer haven, which is particularly gold, Swiss franc, as well as U.S. government bonds. Their attractiveness has not changed even after downgrading the U.S.. Gold price increases also due to the prospect of further easing of monetary policy in most advanced economies, which last week joined Japan. It will be important whether something like this also indicates the Fed and its chief Ben Bernanke. Click To See More Gold Investing Info

Central banks hold Gold Answer – Bernanke Reply – Tradition

Federal Reserve Chair Ben Bernanke presented to the committee the Federal Reserve Board’s semi-annual report on monetary policy. Date of video is July 13 2011 Click To See More Golds Info

Silver Will Be Worth More Than Gold

Buying silver for longterm investment is a no brainer, it’s a win win situation. Gold & silver are highly liquid, thus enabling them to trade gold/silver for supplies in the market. Some companies, such as Future Money Trends, believe just as gold went from $35 to $850 per ounce in a decade (1969-1980) and palladium went from $200 to nearly $1,000 in just 3 years (1997-2000), we believe over the next decade silver investors will be rewarded greatly. Click To See More Golds Info