Gold News and Views

Here's Gold's reaction to the 69k jobs figure this morning.

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

Looks like anticipation of more QE.

 

Pretty smart analyst. Go to "we could see silly levels for gold" May 24

http://www.kitco.com/KitcoNewsVideo/

 

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Mr Hansel H trend;
You maybe right; but ''why '' is a fundamental word

It also may simply be a logical place to buy a long term uptrend

 

Folks are buying > $628 today vs 540's yesterday. 12% premium for not buying into that trend 24 hours ago. US $ off a tad, but Gold way up. At the moment at least Gold is the safe haven of choice.

 

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Sounds right.
Not that most of those''moment'' buyers are day/short tern traders;
only one small 60 minute selll candle all day.Most likely all of these buyers are in for a trend[longer than a day.............................
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PIGS[Port...Spain, ..JPM pigs,BAC pigs Citigroup pigs/LOL maybe helping intentionaly or accidently...........................................................

 

The option volatility has gone up. I am long nov 25 calls on the GDXJ bought may 7 at 1.5 with the gdxj at about 21.50. The calls closed at 1.55 on the ask with gdxj at 20.66. Unless you are just swing trading the options for a few days buy alot of time, The swings day to day are not for the faint of heart

 

If you see your bets as constantly contingent you might like this guy. Seems very broadly informed.

http://www.kitco.com/KitcoNewsVideo/

 

Market Nuggets: Gartman Now Holds Long Gold/Short Equities Trade

Tuesday June 05, 2012 7:58 AM

Investor and newsletter writer Dennis Gartman has added a new way of trading gold. In addition to holding the metal in dollar and euro terms, in recent sessions he has also begun holding a position in which he is long in gold and simultaneously short in the S&P futures. “There is growing antipathy toward fiat currencies generally, but with the global economies teetering once again, we’ve every expectation that the monetary authorities will... and indeed must… err upon the side if further aggressive accommodation, which in the end shall benefit both gold and equities, but which in the short run shall benefit the former far more seriously than it shall benefit the latter,” he says in The Gartman Letter. “With the ratio of spot gold/nearby S&P future this morning at 1.27:1, we look for the ratio to make its way to 1.4:1…or higher, noting that each .01 is important.”

 

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Hi Hansel H;
Long gold,GLD,looks like a good trade & investment;
short SPY,S&P... looks like a good risk reward trade.

For lots of reasons;
especially since gold is closer to 52 week lows,SPY... much closer to 52 week highs.
Also I am assuming we dont see many big bank blowups;
which may or may not be true.

Small,regional , local & community banks tend to be more conservative, & well run & last & not least- have good customer service..........................