Filed under: Middle East, Market Matters, Commodities, Oil

The Financial Times has seen a U.S. diplomatic cable from WikiLeaks that states that Iran has bought significant amounts of gold. The word is that Tehran holds 300 tons of gold, up from 169 tons in 1996.

Gold, oil and the U.S. dollar: The oil-rich Middle East sells oil throughout the world. Oil is priced in dollars. The U.S. dollar is the reserve currency for oil. That means that Mideast countries are loaded with U.S. dollars.

Continue reading WikiLeaks Cable Cites Iran’s Gold Buying

WikiLeaks Cable Cites Iran’s Gold Buying originally appeared on BloggingStocks on Mon, 21 Mar 2011 14:00:00 EST. Please see our terms for use of feeds.

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Filed under: Freep’t McMoRan Copper (FCX)

Freeport McMoran Copper (FCX) is involved in mining, smelting and refining of coper, gold and molybdenum. The company runs its mining and smelting operations in North and South America, Indonesia and Africa. Freeport competes with other miners such as Southern Copper (SCCO), Codelco and Newmont Mining (NEM).

Freeport’s extensive copper mining operations are its biggest source of value – more than 73% of our .42 base price estimate for Freeport’s stock. Our price estimate currently stands about 25% ahead of market price. The company’s mining and production of gold makes up for most of its remaining value. Here we try and explain how the outlook for gold prices in the years to come can affect Freeport’s stock price.

Continue reading How Much Glitter Does Gold Add to Freeport’s Stock?

How Much Glitter Does Gold Add to Freeport’s Stock? originally appeared on BloggingStocks on Fri, 18 Mar 2011 14:30:00 EST. Please see our terms for use of feeds.

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Filed under: International Markets, Newsletters, ETF Investing, Commodities, Stocks to Buy

“Gold rises with inflation and in times of crisis, like we have today; and, as a result, many countries are buying gold,” says Mary Anne and Pamela Aden.

The long-standing resource sector expert and co-editors of The Aden Forecast explain, “They know it’s the ultimate currency and gold is again taking its place in the global monetary system, as it has for thousands of years.

“The actions of the world’s central banks tell the story. At the very least, this is going to keep upward pressure on gold in the years ahead.

Continue reading The Aden Sisters on Gold: ‘Stay with the Mega-Trend’

The Aden Sisters on Gold: ‘Stay with the Mega-Trend’ originally appeared on BloggingStocks on Mon, 21 Feb 2011 10:00:00 EST. Please see our terms for use of feeds.

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BloggingStocks

Filed under: International Markets, Newsletters, ETF Investing, Commodities, Stocks to Buy

“Gold rises with inflation and in times of crisis, like we have today; and, as a result, many countries are buying gold,” says Mary Anne and Pamela Aden.

The long-standing resource sector expert and co-editors of The Aden Forecast explain, “They know it’s the ultimate currency and gold is again taking its place in the global monetary system, as it has for thousands of years.

“The actions of the world’s central banks tell the story. At the very least, this is going to keep upward pressure on gold in the years ahead.

Continue reading The Aden Sisters on Gold: ‘Stay with the Mega-Trend’

The Aden Sisters on Gold: ‘Stay with the Mega-Trend’ originally appeared on BloggingStocks on Mon, 21 Feb 2011 10:00:00 EST. Please see our terms for use of feeds.

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Filed under: China, Commodities

China is allowing its citizens to buy physical gold bars. This new program is unleashing an unbridled demand for the metal. The program works this way: The Industrial & Commercial Bank of China (ICBC), China’s largest, sells the bars to customers at real-time prices. Persons who own the bars can resell them to the bank.

To give you an insight into the magnitude of these sales, here are a few statistics. The ICBC sold 7 tons of bullion in January alone. In all of 2010, sales were only 15 tons.

Continue reading Chinese Citizens Are Hungry for More Gold

Chinese Citizens Are Hungry for More Gold originally appeared on BloggingStocks on Wed, 16 Feb 2011 12:00:00 EST. Please see our terms for use of feeds.

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Filed under: Commodities

Last month was certainly tough for gold. In fact, it was the worst January in about 20 years.

But as usual, there were many investors who thought that this was the end of the bull run. Hasn’t gold risen for ten straight years? Isn’t it time for a bear market?

Well, the fact is that corrections are normal, even for gold. And there is no reason to believe that the recent fall-off is yet another example.

Continue reading Investors Make a 2 Billion Bet on Gold

Investors Make a 2 Billion Bet on Gold originally appeared on BloggingStocks on Tue, 08 Feb 2011 14:00:00 EST. Please see our terms for use of feeds.

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Filed under: Major Movement, International Markets, From the Boards, Market Matters, Personal Finance, Commodities, Headline News

For the past four weeks gold has been in to doldrums, hanging around the ,330 range. Some hedge funds sold out their positions. Analysts were on the tape saying that gold has lost its luster and is ready for a fall.

Now, today, you look at the gold price and it’s up. .80 at ,364 per ounce. And you are wondering what’s going on. You look at today’s news and you read that China has just raised interest rates. So as a trader you decide to sell the gold short because gold does not like higher interest rates. Wrong! The market turned around like a vengeance. By noon it was up .00. It wasn’t logical, but it happened anyway. The shorts quickly covered their positions.

Continue reading Gold Moves Sharply Higher on Inflation Worries and a Weaker Dollar

Gold Moves Sharply Higher on Inflation Worries and a Weaker Dollar originally appeared on BloggingStocks on Tue, 08 Feb 2011 16:30:00 EST. Please see our terms for use of feeds.

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Filed under: Competitive Strategy, Berkshire Hathaway (BRK.A), Chevron Corp (CVX), Oracle Corp (ORCL), Books, Options, Bargain Stocks, Chasing Value[TM], Oil

The market is getting gently hammered today, but that only presents more opportunities from my perspective.

I am in Ixtapa, Mexico, nearing the conclusion of my first ever week long rest during a 35 year working career… and counting. In some ways I am hoping to mold my future working environment from seashore to shining seashore — all around the world — taking advantage of modern technology. I am thinking of it as “have beach (+Internet), will travel.”

A significant part of the week has been spent enjoyably reading which, leads me to my first recommendation. The Warren Buffett best selling biography by Roger Lowenstein: Buffett — The Making of an American Capitalist, which is a must read.

Continue reading Chasing Value: Profiting from Ixtapa – Buffett, Gold, Oil, Options and More

Chasing Value: Profiting from Ixtapa – Buffett, Gold, Oil, Options and More originally appeared on BloggingStocks on Fri, 28 Jan 2011 17:30:00 EST. Please see our terms for use of feeds.

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Filed under: International Markets, From the Boards, Market Matters, Commodities, Headline News

There are a lot of conflicting trends at work in the gold market. Gold does well amid crisis situations and inflation prospects. Both of these factors are abating, at least for the time being. Portugal has had a successful bond offering, raising hopes that the Eurozone will be able to withstand its crisis and preserve the euro.

In China, where inflation is worrisome, the government raised China’s lenders reserve requirements. Markets in Asia and Europe sold off following this move.

In the US, markets are holding firm on good profits from Intel and JP Morgan Chase. As yo can see this is a mixed bag.

Continue reading Gold Falls per Ounce

Gold Falls per Ounce originally appeared on BloggingStocks on Fri, 14 Jan 2011 15:30:00 EST. Please see our terms for use of feeds.

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BloggingStocks

Filed under: International Markets, Newsletters, Canada, Commodities, Stocks to Buy, Best Stocks for 2011

This post is one in a series in which more than 60 newsletter advisors share their Top Stock Picks for 2011. This special report is courtesy of TheStockAdvisors.com.

“Our top stock pick for 2011 is a very speculative play, based on our conviction that at some point during the year, gold bullion will experience a strong run-up in price, perhaps reminiscent to the peak that occurred in January 1980,” says Alan Newman.

The editor of CrossCurrents explains, “The Global X Explorers ETF (GLDX) is a brand new addition and began trading this past November.

Continue reading Top Picks 2011: Global X Gold Explorers (GLDX)

Top Picks 2011: Global X Gold Explorers (GLDX) originally appeared on BloggingStocks on Wed, 05 Jan 2011 10:40:00 EST. Please see our terms for use of feeds.

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