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Post by unlawflcombatnt on Nov 10, 2008 10:16:20 GMT -6
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Post by graybeard on Jan 23, 2009 18:12:04 GMT -6
Gold seemed to be following the DJ for about four months, and now it is pulling away. Silver dropped much more, of course, but is now going up again. Maybe we have reached the crest of the dollar.
GB
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Post by Cactus Jack on Jan 2, 2010 12:26:01 GMT -6
Gold Ends at $1,096.20, up 24.8 percent in 2009 Reuters - Gold prices sealed their biggest yearly gain in three decades with a small advance on Thursday, rising for an unprecedented ninth consecutive year as dollar-hedging traders and central banks joined the rally even as safe-haven buying subsided. At the informal spot-market close of $1,096.20 an ounce, gold gained $218 this year, a sum eclipsed in recent history only by 1979's $286 surge -- gains that proved fleeting as bullion relapsed two years later. On a percentage basis gold rose 24.8 percent, short of 2007's 31 percent rise. After 2008's roller-coaster, this year was one of fairly consistent gains for bullion, favored as a hedge against economic uncertainties after the worst economic crisis since the Great Depression. Gold hit a record high above $1,220 on December 3 on a combination of renewed central bank interest, worries over paper currencies depreciation and long-term inflation fears due to massive economic stimulus programs. Central banks played a key role in aiding the rally during a year in which China revealed that it had secretly increased its reserves over the past five years to the world's fifth-largest by buying up domestic production, while India nearly doubled its holdings by buying half of the IMF's stockpile slated for sale. The tone for the precious metals market in early 2010 will now hinge on whether the U.S. dollar will continue its year-end rally, and if the central banks will keep interest rates at record lows to boost economic growth. Other precious metals staged equally impressive gains after last year's deep decline, with platinum rising a record 58.7 percent and palladium up 220 percent on improving economic conditions, as well as hope for a boost in physical demand from new U.S. exchange traded funds expected to launch soon. Silver also jumped by a record 49.1 percent. |
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Post by unlawflcombatnt on Jan 2, 2010 18:34:08 GMT -6
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Post by unlawflcombatnt on Feb 25, 2010 3:45:21 GMT -6
I thought it would be interesting to compare long-term trend between Gold, Silver, Platinum (PGM) and the Dow Jones. 3-year |
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Post by graybeard on Feb 25, 2010 10:33:36 GMT -6
I'd bet PGM follows car sales closely, as its primary consumption is in catalytic convertes. SLV has a lot of industrial application, so its consumption is somewhat dependent on the economy, while gold is mostly a hedge against a failing economy.
I've read that the price of gold historically averages 47 times the price of silver. You can see that is way off right now, and either silver has a large upside, or gold a large downside, or both..
GB
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Post by unlawflcombatnt on Dec 3, 2011 12:11:43 GMT -6
Below are graphs from Market Watch comparing the Dow Jones with the price of Gold....which almost perfectly matches 1/10th the price of Gold/ounce Well, so much for that "1/10th" ratio (from November 2008). Times have changed, and Gold has had a huge run-up compared to the Dow.  Gold is now about 1/7th the price of the Dow--and that's after this week's jump in the Dow (which will most likely reverse in the near future.) |
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Post by jeffolie on Oct 7, 2012 11:42:33 GMT -6
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