Tag Archives: Gold Coins
A theoretical opinion of what could be ahead for gold should economic turmoil and quantitative easing persist.
May 12th, 2010. Published under News. No Comments.
A theoretical opinion of what could be ahead for gold should economic turmoil and quantitative easing persist.
Author: Lawrence Williams
Posted: Monday , 10 May 2010
WASHINGTON, DC -
I suppose it depends who you listen to whether you believe that gold is going to move on and on to new heights – and maybe test $1500 or higher this year, or whether the recent sharp rise back above $1200, like the even sharper fall in stock markets, is just a blip and it will return to lower levels. The latest European moves to stabilise the Euro and prop up the PIIG economies may temporarily impact the gold priceand bring it back a little. Indeed there are some who believe the combined forces of the U.S and Eurozone will be mobilised against gold to bring it crashing down as they feel that an ever-stronger gold price brings home the global weakness in the major western currencies and the central bankers will be trying to disguise quite how weak these currencies really are. (more…)
Gold’s future bright as ‘anti-currency’ (FinancialPost.com)
May 4th, 2010. Published under News. 1 Comment.
Gold climbed to a fresh five-month high Monday as the European debt crisis continued to pressure the euro and drive investors to the U.S. dollar.
Nymex gold for June delivery closed up US$2.60 to US$1,183.30 per ounce as analysts forecast the metal would break psychological resistance at US$1,200 and test its record high of US$1,227 set in December 2009.
“Gold is not just viewed as an inflation hedge in the current market,” said George Davis, chief technical analyst at RBC Capital Markets. “Given the euro region sovereign risk emanating from Greece, gold is also being used as a hedge against a potential financial crisis.”
He told clients that any lingering uncertainty over the Greek bailout or a “contagion effect” in Europe would be positive for the metal.
While a 110-billion euro bailout package for Greece was approved over the weekend, investors remain skeptical about the prospects for the Eurozone. That lead to further gains for precious metals in May’s first trading session. (more…)
How do I buy Gold coins?
March 26th, 2010. Published under News. No Comments.
Johannesburg – “How do I buy gold coins?” a Fin24.com user asked Money Clinic recently.
The short answer: carefully.
Demand for gold coins boomed during the global financial crisis as investors fled collapsing share markets and sought an investment that could survive an apocalypse.
During the past year, however, markets have rebounded, stockpiled canned food is being consumed sheepishly and – while the gold price has remained relatively steady – the allure of gold coins has faded somewhat.
Some European gold coin producers report that demand for their products is down by as much as 80% this year.
While the gold price has rocketed 335% in the past nine years, the strong rand has hit local investors in gold coins.
A one ounce Krugerrand for R10 500 (commission included) bought in February last year now sells for about R8 750.
The gold price strengthened somewhat from $989 per ounce to $1 094/oz in the same time frame, but the conversion into rands eroded the gains – and then some.
Still, many investors do not believe rand strength is sustainable and expect further growth from gold.
They believe the global economy is not out of the woods yet and the US currency will come under pressure as central banks in Asia and the Middle East lose their dollar appetite. Gold is seen as an alternative currency.
There are a few different ways to invest in gold. Buying shares in gold companies is one option, as is investing in gold exchange-traded funds. (more…)
If it’s not the Chinese, what’s driving the price of gold?
September 7th, 2009. Published under News. No Comments.
If it’s not the Chinese, what’s driving the price of gold?
ALEC HOGG: Well, that gold price is now trading at $990/oz. It has suddenly come to life. Paul Walker is the chief executive of GFMS, and he joins us from Paris. Paul, on Mineweb, Moneyweb’s international website today, Lawrie Williams wrote a story about China pushing the idea of buying gold to its 1.3bn population. There was a programme on Central China Television explaining to the public how easy it is to buy gold, and this is being interpreted – in some quarters, anyway – as part of the reason why the gold price seems to be sprinting towards $1000. Is that wishful thinking?
PAUL WALKER: Well, I don’t think as much as wishful thinking – it’s actually been a story that’s been around for some time. If you have a look at GFMS data on China, it’s been the one outstanding growth market throughout this bull rally. It’s outperformed every other gold market both in value and, most important, quantity terms from the perspective of supply and demand balances in this market. So it’s already to an extent in the price and there’s no doubt that growth in China, ongoing (more…)
Gold bugs and humbugs collide
June 4th, 2009. Published under News. No Comments.
Thu, 4 Jun 09
[miningmx.com] — With gold poised to lurch above $1,000 an ounce for a third time, the lines are being drawn between bulls who believe a dollar-hedging rally has only just begun and bears who say four-digit bullion will be fleeting.
Fuelled by expectations of growing inflation after aggressive government pump-priming measures around the world to help prevent major economies from falling deeper into recession, spot gold prices have risen 14 percent in two months.
At 0654 GMT on Wednesday, prices were up nearly 1 percent at almost $990 an ounce, within sight of the $1,000 mark first hit in March 2008 and last touched on Feb. 20. Despite briefly trading in four-digit territory on three separate days, prices have closed above the mark only once, on March 17, 2008. (more…)
Record demand for gold coins
May 25th, 2009. Published under News. No Comments.
May 24 2009 10:21
Johannesburg – The demand for gold coins has hit an all time high, the SA Gold Coin Exchange said on Friday.
“The rapidly growing demand for gold coins strongly suggests that the gold bull market is well set to extend itself strongly into the future,” said chairperson Alan Demby in a statement.
An increasing number of analysts and commentators were predicting strong gold price advances, Demby added.
He said during the course of 2008, the value of the exchange’s sales of gold coins, primarily Krugerrands, was a substantial 80% higher than in 2007. (more…)
Gold coin demand soars
May 22nd, 2009. Published under News. No Comments.
Fri, 22 May 2009 10:27
The demand for gold coins has hit an all time high, the SA Gold Coin Exchange said on Friday.
“The rapidly growing demand for gold coins strongly suggests that the gold bull market is well set to extend itself strongly into the future,” said chairman Alan Demby in a statement.
An increasing number of analysts and commentators were predicting strong gold price advances, Demby added.
He said during the course of 2008, the value of the exchange’s sales of gold coins, primarily Krugerrands, was a substantial 80 percent higher than in 2007.
“I accept that exchange has grown its market share, but this has played no more than a minor role in our headlong revenue growth, which I am convinced emanates from a belief that gold is the ultimate hedge against the uncertainty generated by the global financial meltdown,” Demby said. (more…)
Warren Buffett’s good news for gold
May 7th, 2009. Published under News. No Comments.
OMAHA -
In the 44 years he’s been building a reputation as the world’s savviest investor, Warren Buffett has rarely offered any good news on gold. Until now.
The two key messages he delivered to 35,000 shareholders at Berkshire Hathaway’s AGM in Omaha over the weekend were inflation is coming back; and the US Dollar is headed lower. Both predictions, if fulfilled, are powerfully positive for gold.
Buffett, who has delivered compounded returns exceeding 20% a year to shareholders for more than four decades, did not mention gold by name. But that will matter little to the yellow metal’s continuously growing group of supporters. They are sure to interpret this as further evidence that gold’s best days lie ahead.
After dabbling in precious metals in the 1960s, Buffett ignored them until a well publicized (but poor) trade in silver between mid-1997 and early 1998. The decision to accumulate 130m ounces was based on factors specific to silver’s supply and demand at the time. (more…)