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i will be adding and holding for years too come, go sgcp!!
small little shake this morning, gott to scoop up some cheapies, thank you!! :)
picked up 3m more shares today, im locked and loaded here,
you mean .0006
Gold sparkles in 'perfect storm'ROLAND JACKSON
November 29, 2009
AFP
Gold prices have rocketed to record heights close to $US1,200 an ounce as a "perfect storm" of market conditions propels demand for the precious metal, analysts said.
Gold, whose two main drivers are jewellery and investment buyers, hit a record $US1,195.13 an ounce on the London Bullion Market on Thursday.
The glamorous metal has won major support in recent weeks and months from a weak dollar, inflationary fears and increasing moves by central banks to diversify assets away from the greenback and into the commodity.
"It's all things coming together at the same time - it's a perfect storm," Westhouse Securities mining sector analyst Mark Heyhoe told AFP, adding that gold could strike $US1,300 by the New Year.
The metal has now surged by around 50 per cent in value over the past 12 months, gaining about 14 per cent in November alone.
"What we have had happen in the last three months is a marked change in how gold is being treated," Heyhoe said.
"We have got central banks starting to buy gold again, after the huge sales we had a decade or so ago, and these are particularly the Asian central banks."
Gold hit the latest record after a purchase of IMF gold by Sri Lanka's central bank, before pulling lower as shock news from Dubai rattled world financial markets.
The International Monetary Fund (IMF) announced Wednesday it had sold 10 tonnes of gold to Sri Lanka's central bank for $US375 million as part of a restructuring of its financial resources.
India had bought 200 tonnes in October 30 for $US6.7 billion and Mauritius bought two tonnes in November for $US71.7 million.
"The IMF was selling gold, and we were expecting China to diversify out of dollars and increase their gold holdings, but actually India came in and bought 200 tonnes," Heyhoe added.
"That made people think there is more to this than just the effect of the weakening dollar."
A weaker greenback makes gold cheaper for buyers using other currencies, which tends to boost the metal's demand and eventually lift prices.
Earlier this month, meanwhile, the world's top gold producer, Barrick Gold of Canada, announced that it was reorganising its futures positions on gold.
Barrick decided to buy out its "forward" positions on gold - deals to sell gold at a certain price at a certain point in the future - because the actual price had soared even higher.
That gave a crucial clue that the gold industry's biggest player expected prices to rocket further.
"When you have got the world's biggest gold producer deleveraging at these prices, it's a strong indication that they think the gold price is going to go higher," added Heyhoe.
However, gold's latest record high point was eclipsed by news this week from Dubai.
The Gulf city state requested a debt moratorium for its Dubai World conglomerate to avoid default - sending world markets into turmoil and sparking fears of another phase of financial crisis.
By late Friday on the London Bullion Market, gold had pared gains on profit taking, to stand at $US1,166.50 an ounce.
"Panic profit-taking on the broader commodity markets saw a very stark correction in gold prices, finally breaking the uptrend," said VTB Capital analyst Andrey Kryuchenkov.
However, he added: "The case for gold remains very bullish, with increasing rhetoric over central bank diversifications and US inflation expectations still running high as we go into 2010.
"We are witnessing a dramatically changing environment with bullion becoming one of the favourite investment vehicles within the investment community," said Kryuchenkov.
The metal draws strength from fears of higher inflation because it is regarded as a "safe-haven" investment in times of economic uncertainty.
"For hundreds of years, the yellow metal has been widely seen as a universal currency where countries across the world have sought the precious metal as a store of wealth and of preservation of power," said analysts at Fyshe Horton Finney stockbrokers in London.
"Gold has seen a surge in its fundamental value in recent times and has just recently hit record highs ... and analysts believe this could rise well into next year."
© 2009 AFP
wasnt making assumptions TOWARDS!!! (YOU) just made a comment and it happend to be in a reply to you, chill TFO, seriouosly!!!!!!
IMO, you could try to flip this but you wont do well, it may go down a tad but you would be better off holding it, it may make a small dip with the wall at .005 but if it does i assure you there will be someone there too scoop up your cheap shares you sell. i know ill be there tomarro, lurking the peeps that want out. NOTE the 20 day SMA (which claytrader pointed out) looks to be pretty accurate support, take that into account, anything below that line im sure will be N/A
Hey SH, Good to see you here!!!
Very Impressive DD!!
Good day here today, even though it was speculative to be a down day with whats going on in dubai, gold dropping just alittle, consolidating, looks like .05-.06 is our new home untill we move up. things are looking good everyone, hope yall have a great and blessed weekend, cia
Great day today!!!! SGCP making higher highs now, looks like if we can pass .005 it will be clear skies, i say we test .005 on monday slight consolidation and the retest by tuesday and hopefully breakout. what you think?
yea it must be rainY season here in kuwait, it has been pouring down all day every day for about a week now, ahhh who cares i got SGCP too cheer me up :)
Chart looks awesome, will be buying on monday!!!!
i deffinitly agree!! maybe even higher, if we get news!!
looks like its forming a possible cup and handle!! looking good
up 60% cant beat that on a half day, really excited about this one, will be buying more on monday, hope everyone has a great weekend, cia
SGCP up 37% huge day , alot more to come!!
SGCP did amazing today, really setting up for monday very nice call orca!!!!!!!
freaking MONSTER here!!!!
just flippers, who bought huge amounts at .0001 getting out, and reentering, makes alott of volume when that happens
we need to stack the bid!!
13`s up
4x1 11x12
5x3 46x47
5x1 45x46
12`s falling
ran out , buying up all the threes the other day., should have waited! i got powder in my scotturd account, but im in kuwait and not near a phone to call in the trade.
those 2`s are getting destroyed, wish i could have got some two`s lol, lucky lucky :)
Great post!!!
QEDN Moving nicely this morning huge volume!!
QEDN .0006x.0007 108m volume
Just picked up some shares here, looking good!!
beautiful chart!!
Looks like the feild reports were updated as well, dont know if anyone posted this yet..
http://www.sierragoldcorp.com/field_reports.php
Awesome, cant wait till they unearth some! revs would go nuts as the demand keeps growing,
im also at work, soo ya know , it is what it is!!
OT: LOADS!!! and rye dressing, ugghhh, the TCN`s here make the food and they dont know how to cook regular cornbread dressing, so they add all these different spices and RYE!!! too it, it was horrible lol, but the turkey was good, how about you??
Rare diamond prices soar as dollar weakens
By David Brough
BuzzPermalinkLONDON — Polished diamond prices are likely to be volatile this year due to a squeeze on the American middle class, but demand for larger, rare diamonds is booming as the number of multimillionaires rises, a top diamond broker says.
A fall in the value of the dollar, in which diamonds are priced, has increased investment in diamonds as a hedge again inflation, said Martin Rapaport, one of the world's leading diamond consultants and entrepreneurs whose price list is used as a benchmark for the wholesale trade in polished diamonds.
The wholesale diamonds market has seen sharp increases of up to 25 percent in extremely rare gemstones and Rapaport has adjusted his price list to catch up with big premiums that dealers were paying above his prices.
The price of an extremely rare, almost colorless, high clarity, round diamond weighing 10 carats has soared to $170,600 per carat, according to the latest Rapaport data, up 25 percent from a month ago.
Last month, Rapaport took the unusual step of issuing a special notice to the industry urging them not to raise prices.
"The higher prices published in the May 23, 2008 Rapaport Price List do not reflect a sudden change in diamond prices, but rather adjustments made to reflect the level of premiums in the trading markets," the special notice read. "We do not believe there is any reason for suppliers to raise prices based on these adjustments."
Rapaport said the buoyancy of prices for rare diamonds may not be sustainable due to volatile economic conditions, like the risk of rising U.S. inflation combined with the credit crisis and squeezed incomes in the American middle classes.
"The U.S. middle class jewelry buyer is toast - he doesn't have the money," Rapaport said in an interview last week. "He is living off paychecks."
However, at the top end of the market, demand for the rarest diamonds is rising as the number of multimillionaires increases globally, especially in commodity-rich emerging markets like the Gulf, oil-producing South American countries, Russia and Eastern Europe.
The "demand for big stones is going up consistently," Rapaport said. "These prices are no longer speculative. They have been accepted by the market. The weakness of the dollar created a situation where the cost of diamonds in euros went down."
But Rapaport said he did not see the rally in prices of top-tier diamonds running out of steam soon.
"The bubble is years away from bursting," he said.
Gold prices have slipped from recent record highs as the dollar has strengthened. Gold typically benefits from a softer dollar, as it is bought as a hedge against the currency's weakness.
Just as the prices of wholesale polished diamonds traded among dealers has soared, the auction house market has achieved record prices per carat, as the superrich appear to have an insatiable appetite for the rarest gemstones as a status symbol.
Laurence Graff, a billionaire who has a store on Bond Street in London and in many other chic spots around the world, regularly appears at magnificent jewelry auctions and snaps up diamonds at ever more dazzling prices.
At a Sotheby's auction in Geneva in May, he bought a pear-shaped 3.73-carat blue diamond for 5.2 million Swiss francs, or $4.93 million, setting a record per carat for any gemstone.
The wives and girlfriends of the world's wealthiest people are piling on the pressure.
"The higher the price, the more she wants the diamonds," Rapaport said. "The fact that they are very hard to get makes them more desirable."