Archive for November, 2009

Martin Armstrong: Gold Headed To $5,000 And Beyond!

Infamous wave theorist Martin Armstrong (see this New Yorker profile for background) sees gold going to $5,000 plus. His first line is a doozy, and it sets his tone: Gold has been among the most hated subjects by the socialists, because with each dollar that it advances, it reveals the delusion that they seek to [...]

Schiff: Gold Standard Not Arcane

From the Peter Schiff Blog: H/T Trading Wall Street Investments “Well, the gold standard works. What we have now does not. Our founding fathers put us on a gold standard for a good reason, because paper currency existed around that time. It had existed in the past. And they were familiar with how miserably it [...]

What’s Gold’s Next Stop?

After hitting our first upside target of $1,110 two days ago, gold prices backed off but still managed to close at their best levels today for a new record high close in New York basis the spot gold. The question now is, what’s going to happen to gold after it hit our first target level? [...]

Barrick shuts hedge book as world gold supply runs out

By Ambrose Evans-Pritchard, International Business Editor Aaron Regent, president of the Canadian gold giant, said that global output has been falling by roughly 1m ounces a year since the start of the decade. Total mine supply has dropped by 10pc as ore quality erodes, implying that the roaring bull market of the last eight years [...]

How Will Niagara Falls Fit Through a Garden Hose?

by Jeff Clark, Senior Editor, Casey’s Gold & Resource Report “There’s no doubt in my mind that we’ll have a mania in gold. And because the gold and especially silver markets are so tiny, the rush into them will be like trying to push the contents of Hoover Dam through a garden hose. Our positions [...]

Willem Buiter Apparently Does Not Like Gold, and Why

Courtesy of Jesse’s Café Américain Dr. Willem Buiter of the London School of Economics, and advisor to the Bank of England, has written a somewhat astonishing broadsheet attacking of all things, gold. I have enjoyed his writing in the past. And although he does tend to cultivate and relish the aura of eccentric maverick, it [...]

Stocks, Commodities Rise on China Economy; Gold Reaches Record

Michael Patterson (Bloomberg) — Stocks rose, sending the benchmark index for emerging markets to its biggest six-day rally since July, and commodities gained after China’s industrial production and Japan’s machinery orders climbed. Gold advanced to a record. The MSCI Emerging Markets Index added 1.2 percent at 8:42 a.m. in New York, boosting its six-day increase [...]

David Rosenberg: This Is How We Get To $2,750 Gold

As Rosie dedicates more and more attention to gold, his latest piece demonstrates why the melt up in gold will make the surreal “lift each and every offer” move in stocks seem like child’s play. Another reason to be bullish on gold is the recurring trade spats. Indeed, this is good news for the commodity [...]