A highly apprehensive crowd of speculators put the pedal to yellow metal and pushed it hard overnight making for fresh records (it is now more costly than platinum!) and bolstering the value of the Swiss franc to new heights as well.
Gold is one investment that you can park for the next 10 or 20 years. The punch line is this: gold and silver are not in bubble territory, and large gains remain, especially if monetary, fiscal, and fundamental supply-and-demand trends remain in play.
A further decline in crude oil prices conspired to drag most of the commodities' complex to lover value ground as the new trading week began. Precious metals lost chart altitude levels as well, despite a minor loss recorded in the US dollar index.
Metals markets opened with a tad of weakness manifest in gold and lingering strength in the other components of the complex this morning. Spot gold traded near the $1,525.00 area showing and silver opened at $37.18 mark per ounce.
Based on current economic factors, we expect gold prices will end the year somewhere between $1,700 and $2,000 per ounce. Silver and platinum prices will experience similar growth based on investor demand.
Gold and silver are not the only precious metals. In fact, if price were the only determining factor, platinum is clearly the most precious of the three. Presently an ounce of platinum is some $285 more expensive than an ounce of gold.
The million dollar question: Stampede or showdown? Will gold and silver continue to stampede into new highs making considerable gains or will the struggling dollar reaching record lows make a showdown, putting a ceiling on precious metals?
Don't look now, but vanadium demand is ramping up, the head of global research with Byron Capital Markets, says. The metal could see demand jump if battery manufacturers start using it to boost power output in lithium-vanadium cells
The economic circumstances resulting from a breakdown of the system would not be pleasant says the Deliberations on World Markets writer Ian McAvity in an interview updating his big-picture expectations.