Buying Gold and Gold Stocks today

[Bman]

Making a time call here on Gold and gold stocks...

2 year time frame..buy and hold

Gold at $1155... seems like $1400 should be the target, minimum


among gold miners, I'm buying GSS at $4.26, KGN at $6.36, and NAK at $9.92


of the three, I like NAK the best

[Bman]

<LI class="dateStamp first">APRIL 30, 2010, 9:08 A.M. ETPRECIOUS METALS: Comex Gold Hits High For Year Overnight




By Allen Sykora
Of DOW JONES NEWSWIRES
Gold futures hit their strongest level of 2010 early Friday when the recent safe-haven buying got an added boost from a softer U.S. dollar.
The market moved little after a report on U.S. gross domestic product that was not far from expectations.

Around 8:54 a.m. EDT (1254 GMT), most-active June gold was up $7.70, or 0.66%, to $1,176.50 an ounce on the Comex division of the New York Mercantile Exchange. Lightly traded but nearby May gold climbed $6.40, or 0.55%, to $1,174.80.

The June futures peaked at $1,178.50 an ounce overnight, their strongest level since Dec. 4.

The metal previously hit a 2010 high in mid-week after Standard & Poor's downgraded the ratings of Greece, Portugal and Spain, prompting buying of gold as a safety play. At the time, gold shook off its traditional inverse relationship to the dollar. The metal climbed despite gains in the dollar, which historically pressured gold since it removed the need to buy it as an alternative currency at times of a weak greenback and also because a stronger dollar makes commodities more expensive in other currencies.
But so far Friday, the dollar is weaker, and that is giving investors even more impetus to buy gold, said Patrick Lafferty, a commodity trading adviser with MF Global. Meanwhile, the safety bid continues, he said.
"It is showing a lot of strength after it held support in the last week," Lafferty said. "The dollar lower and the euro up are both adding to it. Crude oil is up as well.

"You're getting a lot of people now who are jumping on board just because technically it looks like it is zeroing in on the $1,200 level again."
The euro rose after reports that new substantial Greek austerity measures may spur a larger aid package of EUR100 billion to EUR120 billion for the debt-strapped nation, which would get the OK within days. "It now looks like something could materialize over the weekend," said a research note from Brown Brothers Harriman.

The euro is up to $1.3330 from $1.3238 late Thursday.

Still, some currency analysts said, there are concerns that a package would not be enough to end Greece's problems. Furthermore, Moody's Investors Service warned late Thursday that it could join S&P in rating Greece's long-term debt as junk.

Against this backdrop, holdings backing the world's largest gold exchange-traded fund, SPDR Gold Shares, hit another record high Thursday. They increased 6.1 metric tons to 1,159.

"Gold looks set to be driven by further safe-haven investment demand and is on course to challenge $1,200, with the 6-ton increase in SPDR holdings yesterday a clear indication of the concern investors have towards the European debt situation and its impact of euro-zone economic recovery," said James Moore, analyst with the BullionDesk.com.

U.S. gross domestic product rose 3.2% in the first quarter, the government reported. This was not far from the consensus forecast of 3.3%. Gold did not move much in the minutes after the data, mainly retaining its gains from overnight.
-By Allen Sykora, Dow Jones Newswires; 541-318-8765; allen.sykora@dowjones.com



http://online.wsj.com/article/BT-CO-20100430-710077.html?mod=rss_Commodities

[Bman]

Gold going NUTS today!!

Breakouts everywhere in gold mining stocks

The metal itself just blasted through 1215


$1400 by end of the year!

[Cartman]

I wouldn't buy gold stocks.

Get a box of Krugerrands and Eagles and avoid the cap gains.

[American_Jihad]

I wouldn't buy gold stocks.

Get a box of Krugerrands and Eagles and avoid the cap gains.

Bought a shit load in 2001-3...:)

[American_Jihad]

Executive Order 6102 (http://en.wikipedia.org/wiki/Executive_Order_6102)

Could it happen again, you betcha...

[Bman]

Making a time call here on Gold and gold stocks...

2 year time frame..buy and hold

Gold at $1155... seems like $1400 should be the target, minimum


among gold miners, I'm buying GSS at $4.26, KGN at $6.36, and NAK at $9.92


of the three, I like NAK the best


Gold has been performing well, up about $100 since I bought it

These miners, though, have stunk!!!!!

[DammitBoy!]

Buying gold when it was $500 an ounce was smart. Buying gold when it's $1200 an ounce - not so smart.

[Bman]

Buying gold when it was $500 an ounce was smart. Buying gold when it's $1200 an ounce - not so smart.


LOL

we'll see about that!

buy it at $1200

sell it at $2000

[American_Jihad]

Soros, Paulson Boost Bets on Gold.
November 22, 2010

While acknowledging publicly that gold is acting somewhat bubbleicious, George Soros continues to boost his bets on the yellow metal. And he’s not alone, Bloomberg Reports:

Gold’s 23 percent surge this year to a record is proving no deterrent to George Soros, John Paulson and Paul Touradji, whose investments signal more gains for the longest winning streak in at least nine decades.

Securities and Exchange Commission filings this month by Soros Fund Management LLC, Paulson & Co. and Touradji Capital Management LP listed investments in gold as their biggest holdings.

The Bloomberg report cites Soros’ recent comments that conditions are pretty perfect for gold. Gold is up a bit today, 0.2%. But it’s still below its recent closing peak of $1,410 hit on Nov. 9.

http://blogs.wsj.com/marketbeat/2010/11/22/soros-paulson-boost-bets-on-gold/