Gold ends with a gain of more than $30 - marketwatch.com

July 5, 2011, 2:28 p.m. EDT

http://www.marketwatch.com/story/gold-futures-rise-above-1500-an-ounce-2011-07-05-743360?dist=countdown

Gold ends with a gain of more than $30 an ounce

Investors seek a safe haven amid China, Greece worries

Gold for August delivery GC1Q +0.19%  rose $30.10, or 2%, to close at $1,512.70 an ounce on the Comex division of the New York Mercantile Exchange. That was the biggest one-day dollar and percentage gain for gold futures since Nov. 4, 2010, as well as the highest closing level since June 23.

The contract had lost $27.80 over the previous two regular trading sessions. Monday was a holiday.

http://www.marketwatch.com/story/gold-futures-rise-above-1500-an-ounce-2011-07-05-743360?dist=countdown

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Eric Sprott: Prepare for Bullion Prices to Go Supernova

Read more: http://www.businessinsider.com/eric-sprott-prepare-for-bullion-prices-to-go-supernova-2011-7#ixzz1RIORXfBq

Eric Sprott: Prepare for Bullion Prices to Go Supernova

Chris Martenson, Chrismartenson.com | Jul. 5, 2011, 6:14 PM

"I think that the prices will continue higher. I mean the amount of money printing is unbelievable. I just think you have to take that initial stand in terms of buying it. I use the James Turk analogy: just keep dollar averaging. We have gone up eleven years in a row, this year it looks like it will be no exception; I would certainly think next year will be no exception. If we ever have QE3 announced, I think gold and silver will just go absolutely bonkers here. And so I just think you have got to step in there and own it; we’ve had these fears all the way along. You know, $400, and $500 and $700 and $800 dollar gold, everyone was afraid it was a one-time thing. I don’t think it is a one-time thing, I think it is a secular thing. It’s going to carry on for quite a while here until we find some resolution of these problems. And the resolution probably will be some form of default where people just have to expunge debts that cannot be repaid. So, you have got to be in some asset which will not be affected by that."

So predicts Eric Sprott, founder of Sprott Asset Management and famed investor. In this wide-ranging interview, he shares his insights on the precious metals markets - specifically what investors need to be aware of in terms of the way the markets are currently managed (manipulated), the macro outlook for the economy (grim) and the true value of gold and silver (very underpriced; particularly silver).


Eric Sprott is Chief Executive Officer, Chief Investment Officer and Senior Portfolio Manager at Sprott Asset Management, LP. He manages Sprott Hedge Fund L.P., Sprott Hedge Fund L.P. II, Sprott Bull/Bear RSP Fund, Sprott Offshore Funds, Sprott Canadian Equity Fund, Sprott Energy Fund and Sprott Managed Accounts. He also is the Chairman of One Earth Farms Corp and a Member of the Executive Committee of Central Gold-Trust. Eric's predictions on the state of North American financial markets have been captured throughout the last several years in a monthly investment strategy article he authors titled “Markets At A Glance”. Mr. Sprott holds a Chartered Accountant designation.



http://media.chrismartenson.com/audio/eric-sprott-2011-07-05.mp3


Read more: http://www.businessinsider.com/eric-sprott-prepare-for-bullion-prices-to-go-supernova-2011-7#ixzz1RIOK5LaJ


All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Dollar Is Key to Metals and Markets Moves - investorplace.com

http://www.investorplace.com/48257/us-dollar-sp-500-index-gold-silver-gld-slv-uso-spx-uup/

Dollar Is Key to Metals and Markets Moves

A rally in the dollar will send the S&P 500, gold and silver down

Jul 4, 2011, 6:02 am EDT   |   By J.W. Jones

Volatility increased this week as we watched the Greek default situation, the end of the second quarter and the customary window dressing by institutional money managers.

For the past week or so I have been sitting in cash, watching the price action and waiting for setups that have defined risk and solid rewards. With the heightened volatility I did not want to get involved because a trade in the wrong direction would wreak havoc with my portfolio. As this week evolved, the validity of those concerns was unquestionable.

Commodity investors have faced some tough price action recently as gold, silver, and oil have traded significantly lower. Now that we have witnessed some heavy selling pressure, particularly in the silver and oil markets, investors want to know where price is heading in the short term.

Conclusion

In closing, my analysis reveals that the U.S. Dollar is poised to push higher, particularly if current support holds. If the Dollar can push above key resistance levels overhead, I expect the resulting price action in gold, silver, oil, & the S&P 500 to be dismal for the bulls.

I will be watching the Dollar closely looking for clues about price action. If I’m wrong and the Dollar breaks to new lows I would expect a massive rally in precious metals, energy, and domestic equities. With the recent price action that we have seen in the U.S. Dollar, I find it much more likely that the U.S. Dollar extends higher in coming weeks. As usual, time will tell.

If you would like to be informed several times per week on SP 500, Volatility Index, Gold, and Silver intermediate direction and option trade alerts … Take a look atwww.OptionsTradingSignals.com/specials/index.php today for a 24 hour 66% off coupon, and/or sign up for my occasional free updates.

http://www.investorplace.com/48257/us-dollar-sp-500-index-gold-silver-gld-slv-uso-spx-uup/

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Financial marts likely to get more volatile, says UBS economist

Financial marts likely to get more volatile, says UBS economist

KUALA LUMPUR: Financial markets are likely to get more volatile amid rising political risk in major economies, says Paul Donovan, managing director of global economics at UBS Investment Bank.

Problems brought about by the recent recession, such as high unemployment, still exist in major markets like the US and Europe and this means that politicians will continue to run economies, he noted.

This will be seen by way of tighter banking regulations, restriction on capital controls and trade protectionism, for example.

“We are seeing rising political risk coming in, and markets don’t price political risk very well. So we’ll see more volatility as we see these surprise moves coming in,” he said at a roundtable session with reporters here yesterday.

Donovan, who is London-based, said investors are increasingly nervous about where to put their money amid this scenario.

Read more: Financial marts likely to get more volatile, says UBS economist http://www.btimes.com.my/Current_News/BTIMES/articles/20110705234517/Article/#ixzz1RIJHK5zc

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.