http://www.kitco.com/charts/livegold.html

cheers GF.

if you want "fun" try dabbling in nymex (or brent) futures

I like a bit of Nymex action too cynic, mainly on the long side recently, I don't know how many times it's bounced off 40 though looks like it will break that support tonight unless dow has surprise rally, still 10 days until March expires and yet at a $6 deficit to April. A good trade over the last 3 months has been short front month long following month 2 weeks pre-expiry though that may not be the case in the future, market neutral strategies take a lot of stress out of the whole trading carry-on though that's not to say pairs trades can't go very pear shaped, though if not over leveraged I can take the disparity.

Nope I stick firmly to stocks thanks chaps.

METALS STOCKS
Gold rises on speculation plans may boost inflation

By Moming Zhou, MarketWatch
Last update: 12:08 p.m. EST Feb. 10, 2009

http://www.marketwatch.com/news/story/gold-rises-above-900-inflation/story.aspx?guid=%7BF3C150DB%2DFE21%2D4F99%2D9B2B%2DEA0E05672D03%7D&dist=news

http://www.marketwatch.com/news/story/gold-rises-above-900-inflation/story.aspx?guid=%7BF3C150DB%2DFE21%2D4F99%2D9B2B%2DEA0E05672D03%7D&dist=news

http://www.moneyweek.com/investments/precious-metals-and-gems/the-best-asset-class-for-the-next-few-years-gold-miners-14616.aspx

By Dominic Frisby Feb 11, 2009


Put your faith in gold miners

METALS STOCKS

Gold rises to near $930 as safety buying continues

By Moming Zhou, MarketWatch
Last update: 9:43 a.m. EST Feb. 11, 2009

Gold futures rose Wednesday for a second session, climbing near $930 an ounce to the highest level in nearly two weeks as investors continued to buy the metal amid doubts on new economic rescue plans unveiled in the U.S.
Gold for February delivery was last up $11.30, or 1.2%, at $925 an ounce on the Comex division of the New York Mercantile Exchange. It rose to $929 earlier, the loftiest intraday level since Jan. 30. Trading more actively, the April contract rose 1.3% to $926 an ounce.

Gold gained more than 2% in the previous session after the Treasury Secretary Timothy Geithner introduced a new plan to rescue the ailing banking sector. The Senate also passed an $838 billion stimulus package Tuesday by a 61-37 vote.

Markets, however, cast doubts on the plans. Stocks and crude oil prices tumbled, while safe haven buying pushed up gold and Treasury securities, as well as the U.S. dollar.
It's the "flight to safety, pure and simple," said Jon Nadler, senior analyst at Kitco Bullion Dealers.
Crude oil rebounded Wednesday, recouping part of Tuesday's losses, while U.S. stock futures were flat as unease continued over the lack of details surrounding the Treasury's plan.

If gold breaks the $930 mark, it could rise to as high as $950 an ounce in the short term, said Ashraf Laidi, chief market strategist at London-based CMC Markets. Most analysts are projecting gold to rise above $1,000 this year, as safe-haven buying and demand for gold as a hedge against inflation are expected to continue.

Holdings of SPDR Gold Trust, the largest exchange-traded fund backed by gold, hit a new record high of 894.72 tons as of Tuesday, up 1.5% from a day earlier, according to the latest data from the fund. The total was higher than that reported a month earlier by a margin of nearly 110 tons, or 14%.
Other metals were mixed Tuesday. March copper slid 2.9% to $1.53 a pound, while March silver rose 1% to $13.255 an ounce. March palladium gained 0.5% to $213.15 an ounce, and the April contract for sister metal platinum added 2% to $1,056 an ounce.
Moming Zhou is a MarketWatch reporter based in New York.

Positive

http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20090211\ACQRTT200902111557RTTRADERUSEQUITY_1230.htm&selected=9999&selecteddisplaysymbol=9999&StoryTargetFrame=_top&mkt=WORLD&chk=unchecked〈=&link=&headlinereturnpage=http://www.international.nasd

Excelent article here for a bullish read on gold...

The prospects for $1,200-1,300 gold by the end of Q3 remain underpinned by a set of cogent fundamental variables involving currencies, interest rates and the global economy. Meanwhile, even as the divergence between gold and oil begins to fade, any oil-friendly dynamics are seen as a positive for gold's luster

http://seekingalpha.com/article/120130-oil-gold-ratio-surges

believe it when it happens! ..... oil was guaranteed to hit $200 also.
anyway, $1000 will almost certainly pose a pretty formidable obstacle in the meantime

Gold sets record highs as global stocks slide
Thu Feb 12, 2009 2:10pm EST

http://www.reuters.com/article/hotStocksNews/idUSTRE51B0XG20090212

Dollar Rises, Gold Stays Up

by: Duru February 13, 2009 | about stocks: CLF / FCX / GLD / NUE / SLV / X

http://seekingalpha.com/article/120431-dollar-rises-gold-stays-up

Pro TAer Zak Mirs latest comment...

Zak Mir



Reged: 28/06/07
Posts: 640
Re: Peter Hambro Mining - POG.L
#439584 - 13/02/09 08:54 AM Edit Reply Quote



The 200 day moving average at 525p should be a good support level for an October resistance line target as high as 630p initially.

Decided to take my profit on Friday. They don't come along very often these days and I'd let slip a couple of others.

Seems like I made the right decision (for once!)

never wrong .... but still keep an eye on ORE for oft repeated reasons

cheers my dears

dd
well done, perhaps you should try it more often? dont know if this helps but im finding taking profit on just 50% and holding the balance with stop loss at cost, just in case etc. seems to work quite well for me. anyway what do you mean, dont come along very often? im sure they do, its just that we have trouble banking em, at least i used to, not any more.
all my unbanked paper profits far outweigh my banked losses. lol
could be wrong on this, i often am.
weve had jatropha mania, oil mania and gold to follow? heard it all before? patience is required now, and caution. it will happen. still, theres no harm in joining in as long as we are not blinkered or stubborn about it. good luck.
regards
jkd

Thanks.

Problem is I've no idea where this is going now.

It could rise from here, drop down to 500p again or, if we have another massive downturn, irrespective of the placing it could retest the lows of a couple of mnths ago.

dd
i agree with you, thats why i only close 50% of my original position. no one knows whats going to happen next. nice to be right and take a profit and then be unsure what happens next knowing that stop loss on remaining 50% is no loss. how would you feel now had you just sold 50% of your original holding now sitting with a stop loss at original cost?
would you feel comfortable? knowing that if it continues to go up you are still in(ok only at half original investment) or if it fails you can relax and know your stop loss is at cost? having already banked a profit on the first 50%?
regards
jkd

who said this?
look after the pennies and the pounds will look after themselves?
seems to me look after the losses(small) and the profits (run) will look after themselves. be defensive. worry about and look after the losses not the profits.the profits will look after themselves. how much can i lose? it dont matter how much i can profit. when those signs start revolving in our eyes beware. buy gold. beware.
all just my opinion
regards
jkd

PRECIOUS-Gold strikes 7-mth high as funds buy, ETF at record
Tue Feb 17, 2009 2:13am EST

http://www.reuters.com/article/goldMktRpt/idUST34487720090217

http://seekingalpha.com/article/120862-don-t-kick-yourself-later-for-not-buying-gold-and-silver-now?source=article_lb_articles

Don't Kick Yourself Later for Not Buying Gold and Silver Now 2
by: Peter Cooper February 17, 2009

Gold is powering up towards $1,000 an ounce, and while the odd hesitation along the way is possible it will shortly cross this boundary, hit a new all-time high and then head upwards again.

A trend is your friend, especially if you take advantage of it. For gold the question is how best to leverage the up trend.

Gold and silver stocks are the answer. Conveniently precious metal stocks got really thrashed last autumn - along with gold and silver and every other asset class except bonds. So they are dirt cheap.

Rising prices

But will gold and silver equities not fall again if global stock markets tank, as they surely must with profit forecasts for the non-financials still ludicrously optimistic (face facts, for many major companies there will be losses and not profits in 2009)?

No they will not if precious metal prices are rising - and not falling as they did last autumn. And why will gold and silver prices keep on rising this time?

Well, investors are now very worried about bonds and currency rates, and that leaves gold and silver as the last safe haven in the investment universe. If there is only one investment class left to buy that ought to simplify things for investors.

Rising profits

Gold and silver producers are also big beneficiaries of falling energy prices this year, as up to a quarter of production costs go on energy. In addition, most mines are in non-dollar economies, so manufacturers have costs in depreciated currencies and income in the strong dollar.

That means that even if precious metal prices stagnate - and that looks highly unlikely - gold and silver producers are among the only commodity producers that will see profits jump in 2009.

My blog contains many articles on gold and silver which can point you towards some of the better, and riskier equity investments in this sector, and taking a risk in a rising market usually pays off handsomely.

The people who will be kicking themselves later in the year will be those who do not buy gold and silver stocks now.

This reminds me of my warning to those who did not buy Dubai property when they first had the chance, and even after a 50 per cent fall in house prices they are still 300 per cent up on their original investment!