Could gold be next bubble to burst? Oct 18, 2009
While buying gold is viewed as a way for investors to protect themselves against inflation, it can be a way for money managers to profit off other investors' inflation fears. This is called momentum trading. (Athens Banner-Herald)
Indian Shoppers Splurge for Diwali Oct 17, 2009
Kumar Jain, who owns the showroom UTZ, said people are buying gold due to a weakening dollar and inflation fears, adding the price correction from Wednesday's record high has also pushed people to loosen their purse strings. RK Nagarkar, general manager, TBZ pointed out that people see inherent value in the yellow metal, following last year's stock market debacle and fall in property prices. (BusinessWeek)
Gold, Dhanteras sale at record high Oct 15, 2009
Last year there was unprecedented increase in buying gold jewellery and medallions during Diwali but a sharp dip after that. People's faith in gold has been restored and demand is higher than diamond and silver this year,'' Goel said. (India Times, India)
More >> Oct 15, 2009
"Now even small investors have started buying gold coins. They collect it for their children," said Harmesh Arora, director of NIBR Bullion Pvt Ltd, a Mumbai-based gold refinery that sells coins. "Corporate sector has also started gifting coins to their staff and dealers... many of their free gifts with products also have gold coins," Arora added. (India Times)
Banks cash in on gold rush Oct 15, 2009
"Despite the high price, we have seen an increase in demand after a years slump. Last year there was unprecedented increase in buying gold jewellery and medallions during Diwali but a sharp dip after that. Peoples faith in gold has been restored and demand is higher than diamond and silver this year," Goel said. Speaking on the rush of buyers for the festival of Dhanteras, Tarun Kanwar of Navrattan Jewellers in GK-I said, For most people in North India, the festival is very important... (India Times)
LURE OF THE YELLOW METAL Oct 13, 2009
Jewellery showrooms were full of customers buying gold jewellery, bars, biscuits and coins ... People made a beeline for buying gold on Monday despite the fact that the prices of gold have shot up by 33 per cent in one year from around Rs 12,200 to Rs 16,200 per 10 gm. (India Times)
Gold price soars, but miners' shares lag Oct 12, 2009
Its as easy as buying shares and gives you a proxy for buying gold. . (India Times)
Glenn Beck in No Spin Zone Oct 10, 2009
O'REILLY: Buying gold or. BECK: Somebody bought gold, originally bought gold at $300 an ounce. (Fox News)
Bullion bulls Oct 9, 2009
Retail and institutional investors have been buying gold through exchange-traded funds, which allow them to have a pooled stake in bullion. This avoids the extra risk of buying shares in gold mining companies (which might have incompetent managers or shallow reserves) or the complexity of using futures. (The Economist)
Is the Dollar Going to Collapse? Oct 9, 2009
Until these three events occur, it would be wise for investors to keep buying gold and silver, especially silver. Gold has hit new highs, but silver at $17 an ounce is still way below its all time high of $50 an ounce set in 1980. (Human Events Online)
Worth its weight Oct 8, 2009
However, in countries such as China and India, buying gold as in investment is more common. And at this time of year, in the run-up to the Diwali festival, there is a seasonal increase in gold purchases because the metal is traditionally given as a gift. (BBC News -- Business)
Is it wise to buy gold with borrowed money? Oct 8, 2009
According to him, buying gold on margin in a volatile market is a quick way to get your position wiped out. The first erratic price movement might destroy your entire investment, he says. (India Times)
Gold price at record high, but 'golden man' not buying Oct 8, 2009
Jim Rogers wary of buying gold at new high ... Jim Rogers wary of buying gold at new high. (The Star Online, Malaysia -- Business)
Gold Close to Highs, World Equities Gain Oct 7, 2009
Investor Jim Rogers, one of the biggest bulls during this decade's commodities rally, said he would stay clear of buying gold for now, although he predicted prices will continue to go up over the long term. "Gold has hit a new high and I don't like to buy something at record prices unless there are extremely strong fundamental reasons," he said. (ABC News -- Business)
Gold price rises to all-time high Oct 7, 2009
Now a lot of investors are buying gold because they are concerned about the impact of higher inflation ... "Gold is a physical investment, they own it outright, so they are not exposed to any bank's financial survival. "Now a lot of investors are buying gold because they are concerned about the impact of higher inflation - they are fearful about how much governments are borrowing, and how much money central banks such as the Bank of England are putting into the economy. (BBC News -- Business)
Gold rises on demand for alternative to slumping $US Oct 6, 2009
October 6, 2009 - 6:42AM. Gold futures touched the highest price in more than a week as the dollar weakened, boosting the appeal of the precious metal as an alternative investment. (Sydney Morning Herald -- Business)
Russian Steel Writedowns Loom After Price Collapse Wrecks Global Ambitions Oct 6, 2009
Severstal owner , 44, followed Rouge Steel with a stake in Italian steelmaker Lucchini SpA, before buying gold miner Celtic Resources Holdings Plc. By January 2007, as banks such as Credit Suisse Group AG were warning about risky credit derivatives, Mordashov said he was seeking acquisitions around the globe. (Bloomberg)
High prices fail to dampen gold rush Oct 5, 2009
The wedding season is here and people do not compromise on buying gold ... People are buying gold but because of the high price, they are buying a little less ... The increase in sales can be attributed to new trends like men buying gifts for their wives on Karvachauth which is on Wednesday and also families increasingly buying gold coins on Dhanteras instead of steel utensils. (India Times)
Buy Gold or Sell Gold? Part 3 of 3 Oct 4, 2009
Buying gold cheaply and selling it expensively requires understanding the U.S. dollar price movements as shown in the USDX index. The USDX almost sets the gold price. (Suite101.com)
Price no barrier, investors still keep their faith in gold ETFs Sep 22, 2009
Demand for gold increases during festivals as it is regarded auspicious for buying gold. Gainers: BSE ( A, B ), NSE | Losers: BSE ( A, B ), NSE I 52 Week: High, Low. (India Times)
Gold's Gain to $1,000 Spurs Sales of Rings, Necklaces as Scrap Climbs 22% Sep 18, 2009
Everybody is interested in buying gold now, so Im going to be selling every day when the price is above $1,000. . (Bloomberg -- Canada)
Garfield gets it Sep 17, 2009
It was heartbreaking to see the disappointment in their eyes and hear it in their tender, young voices as they were telling me how monstrously cruel I am and how much they hate me, but I am still buying gold, silver and oil with every dime I can manage to keep out of the greedy, grubby hands of the kids, wife, family members and bill collectors, and soon they will understand why, and, if they are good, like not ever again waking me up from a nap, grow fabulously wealthy, insanely wealthy,... (Asia Times Online)
Bernanke May Have to Accept Slower Rebound to Show Inflation Credentials Sep 16, 2009
Those buying gold believe the Fed is going to be accepting inflation if not even promoting it, said , whose $370 million Hard Currency Fund is up 11. 3 percent year to date on investments in precious metals and foreign currencies. (Bloomberg -- US)
Canary in the coal mine Sep 15, 2009
In the meantime, there is no shortage of market analysts who are not buying gold while questioning the motives of those who are. Although they offer a variety of strained reasons, they nearly all agree that it has nothing to do with inflation, which is nearly universally considered dead and buried. (Asia Times Online)
All that glitter: Fund houses on a gold buying spree Sep 11, 2009
ETFs offer equity investors a platform that is preferable to holding physical gold, which comes with associated security risks and high investment charges, or buying gold futures which are highly leveraged instruments exposing them to high reward-high risk. Clients who picked up units in early August when gold was at $971. (India Times)
Big miner burns its golden hedges Sep 10, 2009
I keep hearing many say they are buying gold as a hedge against inflation. Due to the massive stimulus, future inflation is coming. (Sydney Morning Herald -- Business)
Reality excluded Sep 10, 2009
And since the smart play is to buy gold, silver and oil when the government is behaving so badly, the best news was not in the article at all, but for us greedy money-grubbers who want to make a lot of money without working and think that gold, silver and oil is the way to do that because that is what seems to be the lesson of the last 4,500 years, it is wonderful news that the majority of investors are not yet buying gold, silver and oil, which makes sense because it is mathematically... (Asia Times Online)
Gold Tops $1,000: Good or Bad Sign for the Economy? Sep 10, 2009
"People who are buying gold are buying into the argument that the Federal Reserve will not be able to take back all the liquidity it has poured into the market and protect against inflation," says James DiGeorgia, editor of the newsletter Gold and Energy Advisor ... As the credit crisis and global recession eases, more and more consumers, and industrial users like electronics manufacturers, are buying gold again. (Time.com)
Schiff: Rising Gold Signals Inflation Sep 9, 2009
Tuesday, September 8, 2009. SIGN UP FOR FREE NEWS ALERTS. (Newsmax)
Stocks, gold gain ground as deal talk spurs optimism Sep 9, 2009
Tom Phillips, president of TS Phillips Investments in Oklahoma City, said investors are buying gold because they are nervous about the economy and rising deficits but don't want to miss more gains in the stock market. The S&P 500 index has jumped 50% from a 12-year low in early March. (USA Today -- Money)
Barrick to Sell $3 Billion in Stock to Buy Back Hedges Sep 9, 2009
9 billion to eliminate all of its fixed-price gold contracts -- on which the company effectively lost money every time the gold price rose -- by buying gold on the open market and delivering it into the contracts. It will also pay $1 billion to eliminate some of its floating spot price contracts -- the liability on which does not change with fluctuations in the price of gold -- leaving about $2. (ABC News -- Wire)
Clunker remorse Sep 9, 2009
Instead of laughing in my usual mocking style to indicate the bizarre absurdity of an economic system where the unemployed are given financial incentives to buy new cars, let me instead merely urge you to buy gold, silver and oil with your every waking moment and your every last dime, whichever comes first, which says the same thing but with the "secret bonus feature" of letting you make a Whole Lot Of Money (WLOM) when their prices rise, rise, rise, which is good because you are going to need a... (Asia Times Online)
Why does Michelle Obama hate farmers? Sep 9, 2009
The Chinese bond announcement fits squarely within But so too, in a way, does the gold story, if one is to believe the Telegraph's Ambrose Evans-Pritchard, that China has buying gold in bulk every time its price takes a dip, as yet another way to diversify its foreign holdings away from the U.S. dollar. (Found via ). (Salon)
Asian shares hit one-year high Sep 8, 2009
"Gold is rallying on fears of an equity retreat. US jobs data has been pretty disappointing. The risk is that stocks will fall and people are hedging that by buying gold.". Many investors are worried that stock market rallies have got ahead of the turnaround in the global economy, that the recovery will not create jobs and that it will be hard to sustain once the effects of stimulus measures by governments begin to fade. (Sydney Morning Herald -- Business)
Gold tops $US1000 as investors seek refuge Sep 8, 2009
"Gold bulls are easily spooked around these numbers and need to see them sustained to bolster confidence. Gold is rallying on fears of an equity retreat. The risk is that stocks will fall and people are hedging that by buying gold," he said. Asian stocks were up marginally on Tuesday. (Sydney Morning Herald -- Business)
China alarmed by US money printing... Sep 8, 2009
" Osamas Paajamas on September 08, 2009 at 06:57 AM It is absurd to blame the Chinese for selling product to the US. They trusted that a nation that had maintained its currency's value for two centuries would continue to do so. They did not understand that we would elect Obama, a man so dedicated to his socialist vision that he will debauch our currency and destroy our capitalism to realize socialist equality in poverty. student1776 on September 08, 2009 at 06:57 AM I never thought I would agree... (The Drudge Report)
Mad, mad world Sep 5, 2009
I laugh nervously because I am lost and scared, as I am not sure that Toto and I have ever been in this part of the enchanted forest before, because everybody seems to be insane enough to buy a stock at 130 times earnings, they seem to be stupid enough to accept record-high prices (and thus record-low yields) on bonds, even as a massive, multi-year, globally-coordinated "stimulus" of staggering amounts of money via "quantitative easing" gets into gear, but yet these strange people are not buying... (Asia Times Online)
Hit me again Sep 2, 2009
But those days are all over now, and the only people who are buying gold, along with silver and oil, are the people who know what happens to an unsound, fiat currency (like the dollar) in the hands of a government composed of a bunch of socialist, commie-think yahoos (like the US Congress) that willingly deficit-spends insane amounts of money thanks to a central bank (like the Federal Reserve) creating it and a population sitting around saying, "Duh! Okay with us!" Hahaha. We're freaking doomed. (Asia Times Online)
DIY destruction Sep 1, 2009
And I assume that the persons who get stuck with all of the scrips will find that Gresham's Law ("bad money drives out good money") applies to them, too, and that will be the end of the experiment with scrip, except for all of the inevitable lawsuits and my volunteering to be called into court, not as a defendant in a "disturbing the peace" complaint after yelling at a stupid neighbor at 2am that because the Federal Reserve is creating so much money and credit, inflation in consumer prices will... (Asia Times Online)
Ben 'the wise' Aug 29, 2009
And if he truly had any wisdom, he would be buying gold, silver and oil, which are guaranteed to shoot to the moon from all of this insanity, which makes investing so easy that one can only say, "Whee!". But we'll never know, because I can never get through when I call the Fed, and either get mysteriously disconnected or put on "indefinite hold", even after I specifically tell the receptionist "I want to know if Ben Bernanke is buying gold, silver and oil, or is he some kind of moron who... (Asia Times Online)
Down the drain Aug 27, 2009
This "family and friends" business is not the point, and is another sad story for another time, but which involves them acting like idiots and not buying gold, silver and oil when their government is acting like fiscal and monetary morons, and then getting offended when I tell them how 4,500 years of history says that they are acting stupidly. And since you asked about it, the story is that then they wanted to get snippy with me and splutter their lame "No it's not!" blanket refutation of the... (Asia Times Online)
Trucking through Aug 25, 2009
Before I could tell him that after due consideration, yes, I think he is an idiot who should be buying gold, silver and oil, both our attentions were diverted as the beautiful Miss Angela Divine began taking the stage. As she slithered her hip-grinding way to the pole, gyrating to the beat of pulsating rhythm of the primal music, I noticed that she was wearing a gold G-string bikini. (Asia Times Online)
Top 10 investor traps list leveraged mutual funds Aug 21, 2009
Be wary, too, of buying gold from an unknown dealer who also offers to hold the bullion for you. Real estate investment schemes. (USA Today -- Money)
Time to get real Aug 20, 2009
The truth is that I have, casually in the course of conversation with clients, let it drop that I think that they are a lowlife, brain-damaged and/or genetic-mutant idiot for not buying gold, silver and oil when their government is obviously acting like a monetary and fiscal lunatic, whereupon they stupidly over-react by angrily hanging up the phone, canceling their orders and complaining to my boss like a bunch of whiny little crybabies. And if I call them up and politely tell them that they... (Asia Times Online)
Bank on inflation Aug 14, 2009
You are thinking to yourself, "Why in the world would the central banks be selling their gold, which drives down the price of gold, which plays right into the hands of The Mogambo, who is happy to buy gold at these bargain prices because he knows that the price of gold will rise meteorically as inflation in the prices of consumer goods rise meteorically in response to the money supply rising meteorically thanks to the Federal Reserve creating it and the federal government borrowing it and then... (Asia Times Online)
Stupidity without borders Aug 13, 2009
The phone rang for quite a while but, instead of saying "hello" like everyone else, the guy answering the phone says something I dont understand, something like "Mishy Moy" but I understood his angry tone right away, which I chose to calmly just ignore, instead of angrily asking, "What in the hell is that supposed to mean? You want me to come over there and maybe slap your stupid face until you understand that you are stupid by not buying gold and silver right now in the face of such rampant... (Asia Times Online)
Reality offthe menu Aug 12, 2009
" to a life of mindless, selfish hedonism in the first place where, with any luck, you would be dead by now, lying in some gutter with a big smile on your stupid face, instead of putting up with spouses, children, neighbors, et al who are all so stupid that they don't buy gold, silver and oil even after I always deliberately end the "Happy Birthday" song with, "And if you're not buying gold, silver and oil, then you are not going to get your wish because the Wish Fairy knows that you are too... (Asia Times Online)
Hot and cold of economic winter Aug 8, 2009
I cannot pass up the opportunity to proclaim that you should be heeding the Loud Voice Of The Mogambo (LVOTM), the introductory overture of which predictably begins "We're Freaking Doomed (WFD), you morons! Your money is dead and you will be economically dead, if not actually dead, all because you turned your backs on your own Constitution and its requirement that money be only of gold and silver coin, and instead embraced a stupid fiat currency, unleashing torrents of new money (inflation in... (Asia Times Online)
Indians defy high gold prices as festive season starts Aug 7, 2009
MUMBAI/SINGAPORE: Indians have started buying gold jewellery and wholesalers are stocking up against anticipated price rises as the busy season gets under way in the world's largest bullion consumer, dealers said on Wednesday ... Indians have started buying gold jewellery and wholesalers are stocking up as the festive season gets under way. (India Times)
Disappearing taxes Aug 7, 2009
Add it all together and you will be forgiven for getting the disquieting feeling that I am going to launch into a Loud Mogambo Tirade (LMT) about how history shows that you should be buying gold and silver with your depreciating dollars that will buy less and less, because they will almost certainly never again have the buying power that they have Right Freaking Now (RFN), which is something you will probably be able to say most every sorry day of the next, umm, decade or so ... So you were... (Asia Times Online)
The onlyreal dream Aug 4, 2009
" Hahahaha! Sorry for the laughing, but it suddenly struck me that this Ambrose Evans-Pritchard guy thinks he has come up with a plan so that governments forevermore will be able to spend, spend, spend and promise, promise, promise to spend, spend, spend to their hearts' content, creating excessive amounts of money all the way, year after year, doling out money to anybody who asks for it, all because Ambrose Evans-Pritchard, in 2009, came up with The Plan That Makes Everything Good Again... (Asia Times Online)
The futuremade simple Aug 1, 2009
I am sure that Mr Panzner comes to the same conclusion, although if you call him up to confirm this and, after he answers, "Hello?" you ask, "Do you recommend buying gold, silver and oil because they are sure to go up in price with the roaring inflation in consumer prices that will consume us because the loathsome Federal Reserve is creating so much excess money and credit so that the despicable Congress can spend a third of gross domestic product, or GDP - and deficit-spend a seventh of GDP! -... (Asia Times Online)
Habib Jewels to set up shops in Singapore, Indonesia Jul 25, 2009
Joseph said the company was seeing a surge in the number of customers buying gold items and certified diamonds as investment products during the current economic slowdown. He said when major global currencies weakened and there were still no definite signs of recovery in the world economy, many would buy gold and diamonds instead of holding on to hard cash. (The Star Online, Malaysia -- Business)
Precious Metals Investment Jul 24, 2009
Buying Gold, Silver, Platinum and Palladium as Investments. The precious metals of gold, silver, platinum and palladium can all be traded and are a useful way to diversify an investment portfolio in the form of bullion or coins. (Suite101.com)
China Casts an Acquisitive Eye on U.S. Assets Jul 15, 2009
That's in line with comments by Li Lianzhong, head of the Economy Bureau of the Communist Party of China's Policy Research Center, who told an investment forum in June that buying gold and U.S. property are better options for China compared with investing in U.S. Treasuries. It may only be a matter of time before the Chinese start making bids for iconic landmarks. (Time.com)
Awash with cash Jul 14, 2009
Sort of like how my boss is unimpressed that she only got one letter last week, instead of the usual five, from disgruntled customers complaining about how I called them "morons" because they were not buying gold and silver in response to the government acting like monetary and fiscal idiots ... And after a few minutes alone with my gold and silver, securely ensconced in the fabulous Mogambo Bunker Of Ultimate Paranoia (MBOUP) and ruminating about how 4,500 years of human history says I am doing... (Asia Times Online)
A Force of One: The Federal Reserve Jul 14, 2009
Incidentally, anyone who hasn't yet started buying gold or silver as a hedge against the coming inflation is taking a very long, very big chance with his future. There's nowhere else to run at this point. (Townhall.com)
Shiny days ahead for silver Jul 11, 2009
unaware that the "Gaaahhh!" appended to the foregoing paragraph is a secret coded signal, and according to the highly secret Mogambo Highly Secret Code System (MHSCS), the three "a's" followed by three "b's" after the original "g" is a secret code, a "highly secret" secret code, that means "Some moron is jerking monetary policy around willy-nilly, and that kind of stupidity is so highly dangerous that not even professionals should try this at home, which means that you should be buying gold,... (Asia Times Online)
Banks bent on offering better values in gold investments Jul 11, 2009
I only started buying gold towards the end of the year when the price fell to US$700 to US$750 per ounce, she says ... Jewellers sell gold wafers from 1g to 100g (RM130 to RM13,000) to customers with many buying gold wafers at least 20g and above as investments. (The Star Online, Malaysia -- Business)
Add glitter to your equity portfolio Jul 8, 2009
Buying gold may deprive you of an opportunity to own equities to the extent of the money parked in the yellow metal. This could pinch an investor in case of a sharp rally in stocks. (India Times)
Letters Jul 5, 2009
What exactly are they buying gold with, and who is selling it to them. All this relates to James V DeLong's article [Jun 11], both China and America have followed the kind of highly irresponsible relationship that existed between subprime mortgage lenders and borrowers in the US real estate bubble. (Asia Times Online)
Riches in store Jul 3, 2009
Asia Times Online :: Asian news and current affairs. Mark at Northwest Territorial Mint suggests that instead of me always yammering about buying "gold, silver and oil", maybe I should switch to "silver, gold and oil", which he deems "might even merit an exclamation point" since silver should precede gold in the lineup since silver is probably the most astoundingly under-priced element on the face of the planet. (Asia Times Online)
MFs, the most hassle-free option to invest in gold Jul 2, 2009
Many investors apparently would still prefer buying gold coins and bars sold by reputed banks (if not jewellery) and safe-keep them in their bank locker. Also Read. (India Times)
Derivatives hokum Jun 30, 2009
No, not my main problem of calling employees and customers "morons" for not buying gold, silver and oil when their own stupid government is ruining the dollar right in front of their eyes by allowing the Federal Reserve to create such excesses of new money and credit so that the government can borrow the money and spend it, now that people are not borrowing and spending money with their customary elan because they are broke and unemployed. Nor was it a solution to any of my many, many other... (Asia Times Online)
Emerging-Markets Outlook Is `More Optimistic,' Investor Marc Faber Says Jun 30, 2009
He advised buying gold at the start of its eight-year rally, when it traded for less than $300 an ounce. The metal recently climbed above $940 in Singapore trading. (Bloomberg -- Europe)
