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Panic grips credit markets
.......................Gold also benefited from safe-haven buying, with bullion prices heading for their largest one-day gain for 20 years, leaping 11.2 per cent to a three-week high of $864.70 a troy ounce.
http://www.ft.com/cms/s/0/8058d308-8...0779fd18c.html
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Heres a quote from Friday (I'm back home and catching up on the news a bit)
Originally Posted by ABN Amro
As the crisis on Wall Street deepens, retail investors, who can't afford the high cost of trading in the futures markets, have been increasing their holdings of gold coins as a safe haven. The U.S. Mint said last week it was temporarily suspending sales of American Buffalo gold 1-ounce bullion coins after soaring demand depleted inventories. The Mint had previously halted sales of American Eagle 1-ounce gold coin in August. Gold held by the SPDR Gold Trust, the largest gold ETF, surged 16% in September to 755.26 tons. That would rank the fund as the eighth-largest worldwide in gold holdings. The U.S. government, the biggest gold holder, has 8,134 tons in reserves as of September.
For clarity, nothing I say is advice....
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Tin-foil Hatter
Originally Posted by arco
Hi Craig
How do you trade your gold there - physical or what?
rgds - arco
Apart from GLD as an ETF in the NYSE, I suggest you look at GOLD in the ASX. I bought some bullion through NZ Mint but I think that GLD and GOLD are the way to go. Less hassles and more liquidity.
God - Please give us just one more bubble....
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Originally Posted by patsy
Apart from GLD as an ETF in the NYSE, I suggest you look at GOLD in the ASX. I bought some bullion through NZ Mint but I think that GLD and GOLD are the way to go. Less hassles and more liquidity.
Golds on the move & looking promising...
Currently at $US877.90/oz & with the FX at .7165 = $A1,225/oz
Gold & Silver to rally hard thru the end of 2008 & into 2009
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Just wonder if the next stop for Gold is the grey box in the lower RH corner.
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Originally Posted by arco
Just wonder if the next stop for Gold is the grey box in the lower RH corner.
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Arco
Are you able to repost that chart, it's not showing up?
I'm wanting to see whether Gold will bounce off $US750/oz, i see that as an important support level (just need confirmation of it)
Thanks
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Hi Shasta
Try this - let me know if its still not showing.
Size is a problem on ST
rgds - arco
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Originally Posted by arco
Hi Shasta
Try this - let me know if its still not showing.
Size is a problem on ST
rgds - arco
Thats great, thanks again Arco
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Hi Arco, pog was over US$ 900 a few short weeks ago. With this volatility the grey box in the bottom right corner is possible. But it is hard to predict. The US printing press must keep going, so where does that take gold.
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