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willie pete
14th September 2010, 07:24 AM
Has it ever been this high? :o

zap
14th September 2010, 07:33 AM
1270 ;D

MNeagle
14th September 2010, 07:34 AM
Only found this so far:


Gold futures rise to trade above $1,260 an ounce
Other precious metals, including silver and platinum, also gain

NEW YORK (MarketWatch) -- Gold futures rose early Tuesday, as traders sold equities and the U.S. dollar and bought precious metals, including palladium and silver.

Gold for December delivery, the most actively traded contract, gained $13.70 to $1,260.80 an ounce in electronic trading on Globex.

It earlier hit an intraday high of $1,261.90 an ounce.

"The metal remains driven by technical and investment-related buying," said James Moore, an analyst at TheBullionDesk.com, in a note to clients.

Precious metals remained well bid even after the Commerce Department said U.S. retail sales rose 0.4% in August, more than the 0.3% economists expected.

In Europe, most equity markets posted losses, with the Stoxx Europe 600 index /quotes/comstock/22c!sxxp (ST:SXXP 265.86, -0.59, -0.22%) dropping 0.1 % in late morning trading. See story on European stocks.

U.S. stocks opened lower on Wall Street. See story on U.S. stocks

In the currency markets, the dollar index /quotes/comstock/11j!i:dxy0 (DXY 81.37, -0.54, -0.66%) , which tracks the performance of the greenback against a basket of other major currencies, slipped 0.2% to 81.763.

Gold and the dollar typically have a strong inverse relationship; when the dollar falls, gold prices tend to gain and vice versa.

The Japanese yen hit a 15-year high against the greenback, as Prime Minister Naoto Kan survived a challenge to his leadership of the ruling party, and the government. The dollar later recovered some ground to trade down 0.5% to 83.25 yen.

Silver, palladium also gain
Moore said that silver and palladium are leading the gains, adding that yen strength is boosting the platinum-group metals. "Silver is getting the double benefit of investor diversification and improving industrial demand," he also said.

Silver for December delivery gained 23 cents, or 1.2%, to $20.39 an ounce. December palladium futures jumped 2.3% to $542 an ounce, as platinum also rose.

"Technically silver looks very well and may challenge the 2008 record daily close of $20.81 an ounce," analysts at GoldCore said in a note.

"Given the even stronger fundamentals today and the fact that a huge amount of silver has been used in a variety of industrial applications in the last 30 years, many analysts expect silver to replicate gold and reach record highs in the coming years," they said

http://www.marketwatch.com/story/gold-futures-rise-to-trade-above-1250-an-ounce-2010-09-14-53800?siteid=rss&rss=1

DMac
14th September 2010, 07:36 AM
Has it ever been this high? :o


Nope! $1271.20 new all time high

BrewTech
14th September 2010, 07:44 AM
1272.00/20.52...


:banrasta

MNeagle
14th September 2010, 07:47 AM
Gold Reaches Record, Stocks Fall on Economy Concern

Gold rose to a record, Treasuries rallied and stocks halted a four-day advance amid a slump in German confidence and concern China will cool its real-estate market. The yen rose to a 15-year high versus the dollar on speculation Japan is less likely to weaken its currency.

Gold futures rallied as much as 1.8 percent to $1,269.20 an ounce and the 10-year Treasury note yield lost 6 basis points to 2.69 percent at 10:06 a.m. in New York as investors pursued assets believed to be the safest. The Standard & Poor’s 500 Index and the Stoxx Europe 600 Index decreased 0.2 percent. The yen appreciated against all 16 most-traded peers and the Swiss franc touched $1 for the first time this year.

The MSCI World Index of stocks in 24 developed nations dropped for the first time in five days as investor confidence in Germany fell to a 19-month low in September, according to the ZEW Center for European Economic Research, and China’s Premier Wen Jiabao cautioned that rising property prices may stoke unrest. Better-than-estimated growth in U.S. retail sales and business inventories failed to extend the equity market’s rally after the S&P 500 climbed to a one-month high yesterday.

“It’s a sloppy, mixed-data environment,” said Stephen Wood, the New York-based chief market strategist for Russell Investments, which manages $140 billion. “We had good retail sales data. However, German confidence and indications that China may continue to cool down its economy show that the economic environment continues to be very choppy.”

Rally Halted

The S&P 500 fell for only the second time in 10 days, trimming its September rally to 6.5 percent. Retail sales grew 0.4 percent in August. The median forecast of 76 economists in a Bloomberg News survey was for a 0.3 percent increase. The S&P 500 surged 1.1 percent yesterday, erasing its 2010 loss.

Concern the economic recovery is faltering has pushed the S&P 500 down 8 percent from its 2010 high in April and sent the index to 12 times forecast earnings over the next year, near the lowest since March 2009.

The yield on the two-year Treasury slipped 1 basis point to 0.52 percent and the 30-year yield lost 3 basis points to 3.82 percent.

The yen climbed as much as 0.8 percent to 83.07 per dollar, the strongest level since May 1995, and advanced as much as 1 percent against the euro to 106.77.

China’s yuan surged to the strongest level since 1993 on speculation the government will allow appreciation to head off U.S. trade sanctions as its economy improves. The currency gained 0.2 percent to 6.7469 per dollar and touched 6.7400, the strongest level since the central bank unified official and market exchange rates at the end of 1993.

Yuan Rate

The central bank fixed the reference rate at 6.7378 per dollar, the highest level since the dollar peg was scrapped in July 2005, before the U.S. House Ways and Means Committee discusses China’s currency policy tomorrow and Sept. 16.

Gold futures for December delivery rose $20.40, or 1.7 percent, to $1,267.50 an ounce on the Comex in New York after touching $1,269.20. The previous all-time high was $1,266.50 on June 21.

Gold, heading for the 10th straight annual gain, has offered insurance against fluctuations in the dollar and the euro, and the metal has outperformed most stocks and bonds this year. The Federal Reserve and the European Central Bank have kept benchmark lending rates at the lowest level ever to revive the economy.

Oil fell fluctuated near $77 a barrel before a report forecast to show U.S. inventories declined while crews repaired a pipeline in the Midwest. Abdalla El-Badri, the secretary general of OPEC, said today on the organization’s 50th anniversary that prices of between $70 and $80 a barrel are comfortable for producers and consumers.

German 10-year bunds climbed, sending the yield down 7 basis points to 2.36 percent. Greece’s 10-year yield slipped 1 basis point to 11.36 percent. Greece sold 1.17 billion euros ($1.5 billion) of 26-week Treasury bills, the Athens-based Public Debt Management Agency said. Investors bid for 4.54 times the securities offered, and the yield was 4.82 percent.

http://www.bloomberg.com/news/2010-09-14/yen-rises-to-15-year-high-on-speculation-kan-to-win-vote-stocks-fluctuate.html

mamboni
14th September 2010, 07:47 AM
Gold is on fire!! Silver is going nuclear!!

1970 silver art
14th September 2010, 07:57 AM
HOLY COW!!!!!!! Amazing. Simply Amazing. ;D

StackerKen
14th September 2010, 07:59 AM
Yeah...wow...very exciting to see this kind of movement for a change! :o

To the moon!! :)

Book
14th September 2010, 08:01 AM
Silver is going nuclear!!



Silver was $20 two years ago.

:ROFL:

Neuro
14th September 2010, 08:19 AM
Silver is going nuclear!!



Silver was $20 two years ago.

:ROFL:
If history repeats we'll see it at $8.50 in six months! ;)

Dogman
14th September 2010, 08:21 AM
HOLY COW!!!!!!! Amazing. Simply Amazing. ;D





Outlaw get your gut cranking and post what it is telling you!!

:ROFL:

1970 silver art
14th September 2010, 08:26 AM
HOLY COW!!!!!!! Amazing. Simply Amazing. ;D





Outlaw get your gut cranking and post what it is telling you!!

:ROFL:


My gut feeling has been telling me for a while that gold will finish at $1450 (or higher) on December 31, 2010. ;D

mamboni
14th September 2010, 08:29 AM
Silver is going nuclear!!



Silver was $20 two years ago.

:ROFL:


Yeah, you're just pissed because you only bought gold! :ROFL:

1970 silver art
14th September 2010, 08:40 AM
Gold high so far today.......$1273.80.

StackerKen
14th September 2010, 08:43 AM
Wow still climbing!

Not much resistance left?

1970 silver art
14th September 2010, 08:46 AM
Wow still climbing!

Not much resistance left?


Yep. Still climbing. Gold high so far today..........$1274.90.

EDIT: Gold high so far is now at $1275.40.

JohnQPublic
14th September 2010, 09:15 AM
It's been a slow year! The S is (and has been) Hitting the Fan, and people are waking up to that.

1970 silver art
14th September 2010, 09:22 AM
New gold high so far today.......$1275.70. The Yellow Metal Barbarian is looking very good today. ;D

madfranks
14th September 2010, 09:52 AM
New gold high so far today.......$1275.70. The Yellow Metal Barbarian is looking very good today. ;D


The barbarian, I like that! Both the barbarian and the dog are doing very well today!

There's just something that makes me tense to see gold hit an all time high, and silver recover to $20+/oz. It's like the higher the metals go, the closer we are to the end...

I remember when fellow GIM member <SLV> bet that gold would be dipping back into the $600 range, and he sold all of his au because he was sure of it!

jimswift
14th September 2010, 12:02 PM
saw this...


Bangladesh boosts its gold reserves
Published on Sun, Sep 12, 2010 at 00:00 | Updated at Mon, Sep 13, 2010 at 09:22 | Source : ft.com

Bangladesh boosts its gold reserves

Bangladesh has became the latest nation to increase its official reserves of gold, buying 10 tonnes of bullion-worth about USD 400 million-from the International Monetary Fund.

The move highlights revived interest in the precious metals from central banks and sovereign wealth funds, reversing the trend for large gold disposals of the late 1990s and early 2000s. It followed similar buying by India and Sri Lanka.

Analysts and central bankers forecast that the official sector, a group including central banks, sovereign wealth funds and other government agencies, would be net buyers of gold this year for the first time in more than two decades.

Bangladesh's purchase is, nonetheless, small, accounting for just 0.3% of last year's bullion global demand of about 4,000 tonnes. But Edel Tully, precious metal strategist at UBS in London, said that while the purchase was not huge, "it once again highlights that official institutions in the East are adding to their gold reserves."

The shift in central banks' attitudes towards gold is important on two fronts: the fresh interest provides psychological support and, more importantly, slower sales reduce sources of supply and help to boost prices. GFMS, the London-based precious metal consultancy, estimates central banks last year sold 41 tonnes of gold, down 82% from 2008 and the lowest level in 20 years.

The IMF said on Thursday it sold gold to Bangladesh Bank, the country's central bank, at market prevailing prices on September 7. Gold was quoted on the afternoon fix in London, the market benchmark, at USD 1,256.75 a troy ounce that day.

Gold prices hit a nominal all-time high of USD 1,264.90 an ounce in mid-June. However, in real terms, adjusted for inflation, the precious metal is still well below its record of more than USD 2,000 set in the early 1980s.

In early trading in London on Friday, gold hovered just below USD 1,250 an ounce.

The IMF said the transaction was part of the total sales of 403.3 metric tons approved in September 2009. "It adds to the total sales to official holders of 212 metric tons made to the Reserve Bank of India, the Bank of Mauritius, and the Central Bank of Sri Lanka," the Washington-based body said on a statement.

Besides off-market sales to official institutions, the IMF has sold gold to commercial entities through on-market transactions. Since the on-market sales started in February, the multilateral organisation has sold 88.3 tonnes.

After the sale to Bangladesh, the IMF has another 93 tonnes to sell. At the current pace of about 15-17 tonnes a month, it could end by the first quarter of 2011.

Analsyts said that Russia and the Philippines had bought large amounts of gold this year from local miners, boosting their officials reserves. In the past two years, China and Saudi Arabia have also reported large increases in their official bullion holdings, although it is unclear when Beijing and Riyadh bought the metal.
http://www.moneycontrol.com/news/world-news/bangladesh-boosts-its-gold-reserves_483913.html (http://www.moneycontrol.com/news/world-news/bangladesh-boosts-its-gold-reserves_483913.html)

osoab
16th September 2010, 03:58 AM
I saw 1276.10 this morning. Nice overnight strength.

1970 silver art
16th September 2010, 04:15 AM
Gold high so far for today.................................$1277.40. Hmmm.........Maybe gold will close above $1300 today or perhaps tomorrow. We will see.

osoab
16th September 2010, 04:30 AM
1277.80

gunDriller
16th September 2010, 04:33 AM
Gold high so far for today.................................$1277.40. Hmmm.........Maybe gold will close above $1300 today or perhaps tomorrow. We will see.



Jesus.

it's hard to think of $1277 as a buying opportunity.

is this the part where you just sit back and watch ?

i was thinking, all those APMex ads running on the Internet - who knows, with that many ads, the # of PM owners in the US could double - then double again - etc.

Saul Mine
16th September 2010, 04:39 AM
People have been predicting these numbers for so long it almost seems like a letdown. Some of us thought we would see $1600 back in 2006 or maybe early 2007.

1970 silver art
16th September 2010, 04:40 AM
Gold high so far for today.................................$1277.40. Hmmm.........Maybe gold will close above $1300 today or perhaps tomorrow. We will see.



Jesus.

it's hard to think of $1277 as a buying opportunity.

is this the part where you just sit back and watch ?

i was thinking, all those APMex ads running on the Internet - who knows, with that many ads, the # of PM owners in the US could double - then double again - etc.



Hmmmm..........That is a good question. I guess that depends on why a person is buying gold. If they are buying for investment, then it might be a good idea to just sit back and watch with gold at these levels because there is a possibility that gold could pull back from the current $1270's range. If buying for SHTF prepping, then I would say to continue to buy but maybe not as much at these levels. If people are buying certain gold bars and gold coins for collecting purposes, then I say to just continue to buy the gold coins and gold bars that they like to collect but watch out for the premium that you pay over spot.

Neuro
16th September 2010, 04:48 AM
Silver is going nuclear!!



Silver was $20 two years ago.

:ROFL:

If history repeats we'll see it at $8.50 in six months! ;)


With a $12 premium...

I am not sure if that would be enough this time around...

Hold on to your physical guys and gals! We may see a drop in spot price but at this stage, it will only increase the disconnect between paper and the real stuff!

G2Rad
16th September 2010, 04:56 AM
I guess Japanese falks went shopping 4 gold in mass to skick it to their elite rulers.

that's what I would have done when treated like that. Japan, send a message to those *****s!

buy gold, because it makes them mad

DMac
16th September 2010, 06:27 AM
High of 1278.30 so far, then the attempted smack down. I'm enjoying the show!

osoab
16th September 2010, 07:18 AM
High of 1278.30 so far, then the attempted smack down. I'm enjoying the show!


Could have sworn I say 1278.40 before New York opened.

the riot act
16th September 2010, 07:34 AM
I track the 2 PM gold closing prices every day.

So far the highest close was on 9-14-2010 @ $1,270.95. Looks like we will top that today.

Silver on the other hand best close was on 3-8-2008 @ $23.00+

osoab
17th September 2010, 03:54 AM
http://www.kitconet.com/images/sp_en_6.gif

So will we break over 1284.00 today?

Weird week.

BrewTech
22nd September 2010, 08:34 AM
http://www.kitconet.com/images/sp_en_6.gif

So will we break over 1284.00 today?

Weird week.


1297.40 for an intraday high today...

21.17 for silver...

Dogman
22nd September 2010, 08:38 AM
Gold $ 2000.00 by the end of the week! ;D


I need to have my eyes and or brain checked, Even started a poll yesterday using that price.
I meant 1300 but all day and also today had 2000 stuck in my head ;D