Continue reading Endeavour Silver (EXK): 'Massive Organic Growth'

Endeavour Silver (EXK): 'Massive Organic Growth' originally appeared on BloggingStocks on Thu, 31 Mar 2011 09:30:00 EST. Please see our terms for use of feeds.

Except for the safe haven of U.S. treasuries and the U.S. dollar, most other commodities are getting slaughtered in the wake of the Japanese crisis.

Here are some prices of nearby contracts compared to five days ago:

• WTI crude is trading at $97.68 per barrel, down from $105.
• Wheat is at $6.89 per bushel, down for $7.89.

Continue reading Commodities Have Been Clobbered over the Past Week

Commodities Have Been Clobbered over the Past Week originally appeared on BloggingStocks on Tue, 15 Mar 2011 17:00:00 EST. Please see our terms for use of feeds.

Continue reading Silvercorp Metals (SVM): Silver Breakout

Silvercorp Metals (SVM): Silver Breakout originally appeared on BloggingStocks on Tue, 08 Mar 2011 15:00:00 EST. Please see our terms for use of feeds.

Gold has been lingering around the $1,335 per ounce for the past several weeks. This prompted many hedge funds to sell their holdings.

Then came the turmoil in the Mideast. First Tunisia and Egypt, now Libya, Bahrain, Yemen and others. That was the catalyst that gold needed. It shot to a new record high of $1,432.10 in the spot market. April gold futures settled at $1,431.20 per ounce, as reported in Reuters.

Continue reading Gold Soars to a Record High on Mideast Turmoil

Gold Soars to a Record High on Mideast Turmoil originally appeared on BloggingStocks on Wed, 02 Mar 2011 12:20:00 EST. Please see our terms for use of feeds.

Not long ago, there was much talk that the silver rally was over. But it looks like it was just a correction. Of course, silver recently hit a 30-year high, with the price moving over $34 an ounce.

A big part of the spike has been the result of a surge in investment demand, especially from hedge funds. Their positions reached the highest levels in four months (this is according to the net-long position on the COMEX).

Continue reading Hedge Funds Ramp Up on Silver

Hedge Funds Ramp Up on Silver originally appeared on BloggingStocks on Tue, 22 Feb 2011 12:30:00 EST. Please see our terms for use of feeds.

"Gold rises with inflation and in times of crisis, like we have today; and, as a result, many countries are buying gold," says Mary Anne and Pamela Aden.

The long-standing resource sector expert and co-editors of The Aden Forecast explain, "They know it's the ultimate currency and gold is again taking its place in the global monetary system, as it has for thousands of years.

"The actions of the world's central banks tell the story. At the very least, this is going to keep upward pressure on gold in the years ahead.

Continue reading The Aden Sisters on Gold: 'Stay with the Mega-Trend'

The Aden Sisters on Gold: 'Stay with the Mega-Trend' originally appeared on BloggingStocks on Mon, 21 Feb 2011 10:00:00 EST. Please see our terms for use of feeds.

China is allowing its citizens to buy physical gold bars. This new program is unleashing an unbridled demand for the metal. The program works this way: The Industrial & Commercial Bank of China (ICBC), China's largest, sells the bars to customers at real-time prices. Persons who own the bars can resell them to the bank.

To give you an insight into the magnitude of these sales, here are a few statistics. The ICBC sold 7 tons of bullion in January alone. In all of 2010, sales were only 15 tons.

Continue reading Chinese Citizens Are Hungry for More Gold

Chinese Citizens Are Hungry for More Gold originally appeared on BloggingStocks on Wed, 16 Feb 2011 12:00:00 EST. Please see our terms for use of feeds.

As investors, we are always looking for guidance. For those of you invested in gold, this survey bears reading. Reuters polled 65 analysts to find out what their crystal balls are saying about the price of gold in 2011 and 2012.

For this year, they are looking for a median price of $1,450 per ounce, 18% higher than 2010's median price of $1,225.60 per ounce. The forecast is just above the record of $1,430.95 set in 2010. A breakdown by quarters is as follows:

Continue reading Reuters Poll: Gold Prices to Plateau in 2011

Reuters Poll: Gold Prices to Plateau in 2011 originally appeared on BloggingStocks on Fri, 04 Feb 2011 10:30:00 EST. Please see our terms for use of feeds.

Three intermarket commodities are on the move today. The Financial Times reported that the U.S. dollar hit a low against the Swiss franc.

Why is this noteworthy? First the Swiss franc is a separate currency, not part of the euro. With Europe in disarray, the only safe currency is the Swiss franc. Anyone wanting to hedge against the eurozone getting worse would buy the Swiss franc. On the futures market, the March Swiss is trading at 1.05610, up 0.0138 (9:20 EDT). The March U.S. dollar is trading at 80.18, down 0.49.

Continue reading Dollar Hits Low Against the Swiss Franc

Dollar Hits Low Against the Swiss Franc originally appeared on BloggingStocks on Tue, 28 Dec 2010 11:00:00 EST. Please see our terms for use of feeds.

Look for the silver lining. Silver is catching the imagination of investors across the country. Investors who want a piece of the precious metals boom are buying silver in droves.

Why silver? Why now? Gold has moved sharply higher this year and is out of reach of many investors. Silver, on the other hand, is relatively cheap at about $27 per ounce. For a small premium over bullion, you can buy a Silver Eagle coin. Coin sales are up 22% over last year and up 30% over 2007, as reported by CNBC.com

Continue reading Near-Record Demand Drives Silver Prices Higher

Near-Record Demand Drives Silver Prices Higher originally appeared on BloggingStocks on Wed, 01 Dec 2010 10:40:00 EST. Please see our terms for use of feeds.

The SLV, however, has now retraced that move despite the fact that the U.S. dollar has been climbing on a near daily basis. A stronger dollar should be putting a cap on the silver market, and that is not happening. This is a very bullish signal that the price of silver is going to continue to climb as we head into 2011. Look to get long the iShares Silver Trust ETF in the coming days.

Silver Is Set to Explode originally appeared on BloggingStocks on Mon, 29 Nov 2010 18:00:00 EST. Please see our terms for use of feeds.

Continue reading Chasing Value: Caterpillar Is Not Dirt Cheap

Chasing Value: Caterpillar Is Not Dirt Cheap originally appeared on BloggingStocks on Mon, 15 Nov 2010 15:00:00 EST. Please see our terms for use of feeds.

Gold prices have marched to a new high of $1,422.45 per troy ounce in London. This marks the fourth day of the gold rally.

The Wall Street Journal (subscription required) cited that the prime mover was continued worry over European sovereign debt defaults.Traders and investors are riding the bull higher and higher. To help the gold along, the U.S. dollar is weaker, sparking a rally in key commodities like oil and grains. Cotton is also up again.

Continue reading Gold Climbs to Yet Another Record High

Gold Climbs to Yet Another Record High originally appeared on BloggingStocks on Tue, 09 Nov 2010 11:00:00 EST. Please see our terms for use of feeds.

Reuters quoted Federal Reserve Chairman Ben Bernanke as saying: "We're not in the business of trying to create inflation. Our purpose is to provide additional stimulus to help the economy recover and to avoid potentially additional disinflation, which I think we'll all agree could also be worrisome."

Bernanke claims that inflation is below the Fed's 2% target. That's hogwash! Sure if you use the "core" CPI, which leaves out food and energy, that may be the case. Not to worry.

Continue reading Bernanke Says He Does Not Want to Create Inflation

Bernanke Says He Does Not Want to Create Inflation originally appeared on BloggingStocks on Sun, 07 Nov 2010 11:10:00 EST. Please see our terms for use of feeds.

The gold market exploded Thursday with the December contract up $45.50 to $1,383.10 per ounce, as reported in the Wall Street Journal.

As usual, there are lots of reasons for the spectacular rise. The two main ones are currency worries and inflation.

Let's take the currency issue first. The December U.S. dollar contract is hovering just above the 75 level. That level held and the dollar then rose to 89.11. Now it has come back down to the 75 level. A breach of 75 would signal a further move down.

Continue reading Gold Powers to a Record $1,383 per Ounce

Gold Powers to a Record $1,383 per Ounce originally appeared on BloggingStocks on Fri, 05 Nov 2010 10:00:00 EST. Please see our terms for use of feeds.

When you make a prediction, why be squeamish? Meet Shayne McGuire, a 44-year-old fund manager from Texas who runs a $330 million gold portfolio at the Teacher Retirement System of Texas. He predicts gold will reach $10,000 per ounce, The Wall Street Journal reports.

McGuire stands alone in his prediction that gold will reach $10,000 per ounce. He started buying gold early in 2007 at $650 per ounce. He was able to convince the Teacher Retirement Fund to buy gold. So far, his gold fund is up 25% over the past year. The gold fund has half of its assets in the SPDR Gold Trust (SPY).

Continue reading Gold Bull Forecasts $10,000 per Ounce

Gold Bull Forecasts $10,000 per Ounce originally appeared on BloggingStocks on Tue, 02 Nov 2010 10:40:00 EST. Please see our terms for use of feeds.

One of the broadest measures for commodity prices is the 19-commodities Reuters-Jefferies CRB Index. For October, the index was up 4.8% after an 8.5% gain in September, as reported in Investors.com.

Sugar and cotton started the trend, rising more than 20% each. Corn was up 17% and arabica coffee rose 11%.

Continue reading How Did Commodities Do in October?

How Did Commodities Do in October? originally appeared on BloggingStocks on Mon, 01 Nov 2010 09:30:00 EST. Please see our terms for use of feeds.

Continue reading Chasing Value: Anglo American, Gold or Something Else

Chasing Value: Anglo American, Gold or Something Else originally appeared on BloggingStocks on Thu, 28 Oct 2010 14:00:00 EST. Please see our terms for use of feeds.

Spot gold in London hit $1,299.65. The December gold futures contract traded at $1,301.30, setting new record highs, as reported in Reuters.

Gold resumed its rally mode when the U.S. Federal Reserve indicated that it will provide more stimulus to the U.S. economy. That triggered commodities to move higher in anticipation of more inflation.

Continue reading Gold Rises to $1,300 per Ounce; U.S. Dollar Sinks

Gold Rises to $1,300 per Ounce; U.S. Dollar Sinks originally appeared on BloggingStocks on Fri, 24 Sep 2010 11:20:00 EST. Please see our terms for use of feeds.

Silver has surged to $20.74, prices that haven't been seen since 1980, according to the Wall Street Journal (subscription required).

Let's take a walk down memory lane. Around 1979, the Hunt brothers from Texas tried to corner the silver market by buying up and hoarding tons of physical silver. That period also saw inflation rising to 18%. The Federal Reserve under Paul Volcker raised short-term rates to the 18% level.

Continue reading Silver Surges to a New Two-Year High

Silver Surges to a New Two-Year High originally appeared on BloggingStocks on Fri, 17 Sep 2010 10:00:00 EST. Please see our terms for use of feeds.