Gold, too, took a beating yesterday. It fell $21, to $886. “Will we ever have an opportunity to buy gold below $900,” we asked a few days ago. Now we have our answer - yes.
August 7th, 2008 | Bill Bonner | 2 comments | ContinuedPrecious Metals
Commentary on precious metals (we really love gold) by your Daily Reckoning editors in Melbourne, Australia. Still haven’t subscribed to the Daily Reckoning? What are you waiting for… sign up here, it’s free!
A chronological listing of articles is below.
Gold Standard Doubles as the Greenspan Fed Makes Real Interest Rates Negative
“The reason there is [now] very little support for the gold standard is the consequences of those types of market adjustments are not considered to be appropriate in the 20th and 21st century. I am one of the rare people who have still some nostalgic view about the old gold standard, as you know, but I must tell you, I am in a very small minority among my colleagues on that issue.”
August 7th, 2008 | Adrian Ash | 3 comments | Continued
Financial Services Industry Seems to Have Peaked Out
Between 1950 and 2000, the USA transformed itself from a country that made things to a country that financed things…
August 5th, 2008 | Bill Bonner | 2 comments | Continued
A Funny Story About $20 Gold Coins
We came back from Vancouver with two $20 gold pieces in our pocket. Actually, the idea came from Jim Rogers, who gave us one…
August 4th, 2008 | Bill Bonner | 0 comments | Continued
Price of Silver Climbing to All Time High of US $1,012
The historical high for silver was set 531 years ago in 1477, topping at (using the purchasing power of 1998 dollars) a princely $806 an ounce. By comparison, the price of silver less than $19 an ounce today, and was only about $5 an ounce in 1998, after having bottomed at under $4 an ounce in 1992. Now, fast-forward to today as our 2008 dollars, which have fallen 50% in purchasing power since 1998, means that the all-time high price for silver, set in 1477, now stands at $1,012.
July 29th, 2008 | Mogambo Guru | 6 comments | Continued
A Golden Success Story from the Solomon Islands
After collecting a couple of kilos of alluvial gold I tried to melt it. I got an old furnace off an Australian con man and hooked it up to the gas…
July 25th, 2008 | Bill Bonner | 0 comments | Continued
Crude Oil and the Dow Jones Index…a Close-Up
Oil’s trading at around $130 today, reader. That’s a 12% decrease since the high posted on July 11th. It seems more and more that oil is the architect behind a turnaround in share prices and economic forecasts. The bulls may be coming out of hibernation. But our focus today is oil itself. That’s where the market is focusing. Oil’s what equity traders are looking at.
July 23rd, 2008 | Gabriel Andre | 0 comments | Continued
Oil Was Down and the Banks Were Up
In a complete reversal of recent primary trends in the market, oil was down and the banks were up. Crude actually fell under $130 for the first time in six weeks.
July 18th, 2008 | Dan Denning | 0 comments | Continued
Gold Bulls Are Popping With Enthusiasm About the Post-FOMC Recovery in Gold Prices
Ben won’t be there long, anyway, especially if he mucks this up. Maybe the new administration will replace him. Then he could write a book debunking gold bug myths about the Federal Reserve System, such as the one about how the Fed is “the engine of inflation.” Anyway, the markets, overall, are performing as expected.
July 18th, 2008 | Ed Bugos | 0 comments | Continued
Today’s Current Gold Price
Big institutional players in the New York futures market slashed their bullish betting on Gold in the week to June 10th. Data from the CFTC – the US regulator – shows a net reduction of 11% in the long gold positions held by what it calls “large speculators”. And this “reduction in the gross longs maybe a further sign that gold is losing its attraction,” reckon analysts at the Swiss banking and wealth management giant…
June 19th, 2008 | Adrian Ash | 0 comments | Continued