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The Spot Price of Gold is $
1181.60
Current as of
Jul 30, 2010 04:54PM . Not For trading purposes
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Spot Price of Gold –
120 Days
The chart above represents the spot price of gold per ounce for
the last
120 Days . Spot prices are not for trading purposes. For the most
up-to-date information, please contact a Blanchard and Company, Inc.
Gold Expert at
1-866-827-4311 .
Gold Market News & Analysis
"We ... see more quantitative easing as being unavoidable within three months, if the bad news continues," writes Julian D.W. Phillips of The Gold Forecaster. "But this time, we have to ask, can it be managed without frightening side effects? ... [ Read more… ]July 30, 2010
"We are on the cusp of a parabolic move in the price of gold underwritten by physical shortages," writes John Embry, chief investment strategist for Sprott Asset Management. "Central banks can no longer supply the amount needed to balance supply and demand while mine production continues to stagnate at best." [ Read more… ]July 30, 2010
"The debt bubble is unwinding worldwide," says renowned economic forecaster Ian Gordon, founder of the Longwave Group. "I think the next leg down will be some big bank in trouble in the United States. Then people will start to panic and move to gold. With that, the stock market will come down quite dramatically because the economy won't be recovering. We're not going into a double dip. We're going into a depression. I'm convinced of that." [ Read more… ]July 30, 2010
"There is no question that gold's allure as a safe-haven has taken a bit of a beating with the more confident tone coming out of European markets," writes economist David Rosenberg of the Gluskin Sheff investment firm in a research note. [ Read more… ]July 30, 2010
Gold strengthened Friday - breaching the $1,180 level - on news that the second-quarter gross domestic product has plunged, registering at 2.4 percent, which marks huge drop from the revised first-quarter number, which was 3.7 percent. This marks the slowest growth in nearly a year and is too weak to drive down unemployment. [ Read more… ]July 30, 2010
From the Chart of the Day Web site: [ Read more… ]July 30, 2010
"The major trend in gold remains positive," says Adam Hewison, president of INO.com and co-founder of MarketClub, in a video analysis of gold's chart performance. [ Read more… ]July 30, 2010
"Crashes don't occur because the fundamentals suddenly change," writes Moses Kim of the Expected Returns precious-metals blog. "They occur because the public at large recognizes the fundamentals and heads for the exit at the same time. What's crashing next is the public's confidence in governments across the Western world. You can guess how that will affect the price of gold. ... [ Read more… ]July 30, 2010
Financial commentator Dan Dorfman says that gold - in the mainstream media's eyes - is like comedian Rodney Dangerfield: It gets no respect. [ Read more… ]July 30, 2010
"The good news for gold investors is that July and August have been the seasonally weakest months for gold prices in the nearly four decades since President Nixon abandoned the last relics of an official gold standard and set the metal free to find its own price in the marketplace," says Jeffrey Nichols, managing director of American Precious Metals Advisors. [ Read more… ]July 30, 2010
"Gold is suffering its typical midsummer seasonal weakness but continues to be in a long-term bull market," says James Dailey, CIO and senior portfolio manager for Team Asset Strategy Fund. [ Read more… ]July 30, 2010
Trace Mayer of RuntoGold.com uses the 200-day moving average to conclude that gold is doing just fine. By definition, the 200-day moving average is "the sum of the close from the previous 200 trading days divided by 200." [ Read more… ]July 29, 2010
Toby Connor of the Gold Scents blog takes on the gold bears in a July 27 post, excerpts of which follow, minus his analytical charts of gold's recent performance [ Read more… ]July 29, 2010
"We remain convinced that gold has yet to make its high for the year, and expect an assault on $1,300 to begin in about a month from now," says Sam Kirtley of www.SKoptionstrading.com. [ Read more… ]July 29, 2010
The Congressional Budget Office has issued a stark warning on the nation's future in a July 27 report titled "Federal Debt and the Risk of a Fiscal Crisis." Basically, the U.S. is looking a lot like Greece and those other European nations facing sovereign-debt implosions. [ Read more… ]July 29, 2010
"We're all of the mind that fiat paper currencies are in a state of distress, if not collapse," says precious-metals expert Ned Naylor-Leyland of Cheviot Asset Management, in an interview with financial commentator Max Keiser (at minute 13:15). [ Read more… ]July 29, 2010
"Many of the economists who relied upon deceptive government-generated economic statistics to tout a questionable recovery are now becoming increasingly pessimistic as a consequence of mounting evidence of collapsing consumer confidence, punk retail sales, and a fierce resumption of housing's descent," says Chris Blasi, president of Neptune Global Holdings LLC. [ Read more… ]July 29, 2010
"There is an opportunity to own value shaping up," says Gary Tanashian, owner of the Biiwii.com financial site. [ Read more… ]July 29, 2010
Khaner Capital Management partner Lloyd Khaner thinks that gold is undervalued and could well double in price over the next 12 months. He also thinks looming inflation is more of a problem than deflation, particularly globally. [ Read more… ]July 28, 2010
"Belief that the economic downturn is ending and August options expiry have led to gold and other precious metals being caught in a wave of short selling, with prices slipping sharply," writes analyst Lawrence Williams for MineWeb.com. [ Read more… ]July 28, 2010
"Everyone knows the basics about investing," notes Moses Kim of the Expected Returns precious-metals blog. "We're all supposed to invest for the long run and buy based on value. We should be 'greedy when others are fearful and fearful when others are greedy.' Simple, right? But how many people can execute in real-time? How many can control their emotions and buy when the time comes? Well, since 90% of non-index investors lose money, I suspect not many. [ Read more… ]July 28, 2010
"On a long-term basis, gold is extremely undervalued, particularly relative to the proliferation of currency around the world," Hinde Capital CEO Ben Davies tells CNBC's Maria Bartiromo (at minute 00:58). Davies blames the recent outflows from gold on a false sense of security created by the weak European bank stress tests, which set the bar too low. [ Read more… ]July 28, 2010
"I believe in two things," Franco Nevada gold-royalty company chief Pierre Lassonde tells MineWeb.com. "One is that the gold price will have three zeros after the first number - I just don't know how big the first number is going to be. We are now at $1,200 gold, and I do not believe for one second that that's the end of the bull market in gold." [ Read more… ]July 28, 2010
Because sovereign-debt risks in Europe and the U.S. are underestimated, "every investor really needs to have gold and silver in their portfolio, and make sure it's physically backed, not just some paper trading accounts," Martin Hennecke of the Tyche Group tells CNBC in a July 26 video interview (at minute 4:30). [ Read more… ]July 27, 2010
"Spotting the consensus buy at an event like the Agora Financial Investment Symposium in Vancouver last week is a good indicator of the way markets will move. Two years ago they got the stock market crash spot on," writes Peter John Cooper of the Arabian Money Web site. [ Read more… ]July 27, 2010
"Inflation is defined as the rate at which the general level of prices for goods and services is rising, and, subsequently, the purchasing power is falling," writes Richard Benson, founder of the Speciality Finance Group. [ Read more… ]July 27, 2010
Here's another good reason to invest in tangible assets such as gold and silver bullion. "Commodity ETFs make lousy buy-and-hold investments," according to a Bloomberg News expose that explores complicated trading practices such as "contango" and "pre-rolling." [ Read more… ]July 27, 2010
Market analyst Howard Katz of The Gold Speculator places himself firmly in the inflation camp with his article "The Coming Rise in Prices," calling the notion of looming deflation a "balloon full of hot air." [ Read more… ]July 27, 2010
"Yeah, I believe it is a secular bull market," Weldon Financial chief Greg Weldon says of gold in a King World News audio interview (about minute 9:28). [ Read more… ]July 27, 2010
"Our fundamental view on gold hasn't changed in the last couple of weeks; we continue to be positive and expect further price increases in 2010 and 2011," says Daniel Zurbruegg, managing partner of Alpine Atlantic Global Asset Management of Switzerland. [ Read more… ]July 27, 2010
G-Resources Group Ltd. of Hong Kong, whose development of a gold mine in Indonesia has been delayed by six months, said prices may reach $2,000 an ounce because of supply constraints and investment demand. [ Read more… ]July 27, 2010
Though he didn't spell it out this time, "Black Swan" author and hedge-fund adviser Nassim Taleb gave a tacit endorsement to investing in tangible assets such as gold bullion in an interview with Bloomberg this month. [ Read more… ]July 27, 2010
"Our outlook on gold is pretty bullish," says Vikas Ranjan, principal of Ubika Research, a research and analytics firm serving small-cap clients in Canada. [ Read more… ]July 27, 2010
David Rosenberg, chief economist for the Gluskin Sheff investment firm, dismisses any positive notion of the state of the U.S. economy in his latest research note, an excerpt of which follows: [ Read more… ]July 27, 2010
He traded for billionaire George Soros and hedge-fund star Leon Copperman during his 40 years in business, and his "Trader Vic" books are the stuff of legend. Victor Sperandeo has seen almost every kind of market, but he's now preparing for something rarely seen: hyperinflation. [ Read more… ]July 26, 2010
"The global crisis is accelerating," notes author David Knox Barker, publisher of The Long Wave Dynamics Letter. "Gold is stepping up to its inevitable role as the de facto world reserve currency." [ Read more… ]July 26, 2010
"The simple reality the Fed is waking up to is that the structural underpinnings of the economy are damaged beyond any quick or easy fix," writes David Galland, managing director of Casey Research LLC, in an article titled "Bring Out Your Dead." [ Read more… ]July 26, 2010
"'Helicopter' Ben Bernanke appeared before Congress for his semiannual visit July 21," writes money manager Bill Fleckenstein in his MSN Money column, "Contrarian Chronicles." [ Read more… ]July 26, 2010
British bankers are taking new interest in the history of inflationary periods in Germany and other nations, says U.K. Telegraph financial writer Ambrose Evans-Pritchard. [ Read more… ]July 26, 2010
"I feel even stronger about my forecast now," Global Resource Alert publisher Peter Krauth says of his prediction of $5,000 gold prices. "There are a few catalysts I expect will bring about a major rise in the price of gold." [ Read more… ]July 26, 2010
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