Gold moved from $1180s to $1350s from December to February. It is now consolidating at $1345-$1320 level. Watch for breakout above $1360 short term and then break of $1400 in the coming months. By years end, I would not be surprise to see gold pushing $1500s
14 minutes ago: SA article
Another Big Inflow For GLD Signals Higher Prices Ahead
Mar. 11, 2014 1:31 AM ET
•Gold inflows to GLD are accelerating.
•Renewed interest in the U.S. is key for sustaining the current rally.
•Gold demand in cost-sensitive Asia could suffer, but it could also spur even higher prices.
Yesterday, for the third time in the last 8 weeks, the trust for the SPDR Gold Shares ETF (GLD) added 7.5 tonnes to its holdings. These are the biggest daily inflows the trust has seen since late-2012 and they signal renewed interest in the metal by U.S. investors, a key prerequisite for extending the current gold market rally.
LOL, do you think a $5 drop is a concern? Gold and Silver are consolidating in this range ($1345-$1320). There's support at $1320, $1300 and strong support at $1280. Next leg up is break of $1360 and onto $1400 resistance. After $1400, we are heading up strong...
Gold and Silver both have solid support at $1320-$1280, $20.50 respective.
the point is - you posted 2 negative paragraphs on gold taken from 2 different articles and made it look like it came from same article. that's low man.
The first article was actually positive on gold. It said demand for this quarter was down, but this was due to investors off and the Chinese new year holiday. It said drop was temporary as volume will pick this quarter as investors come back. It also expect demand to exceed last year but production of gold will remain the same. This will only lead to gold price increasing
Coutts & Co. is adding gold for investors as rising wealth in China and increasing political risks including in Ukraine spur demand, helping prices rally from the biggest annual decline in more than three decades
demand for gold will rise this year, but production will only match last year = Gold price rise
wow, misleading post...you posted excerpts from 2 different articles.
from first article:
Gold has risen 11 percent since December as faltering global growth and tension in Ukraine boosted the metal’s appeal as a haven. The drop in sales may be brief as prices stabilize and buyers return for holiday purchases, Zhang said.
“Last year was a peculiar year when we saw a big fall in prices,” Zhang said. “People bought a lot of gold, and I think demand will start climbing again once the festive and marriage season begin later this year.”
The association expects annual demand will rise to about 1,176 tons. Production in 2014 will match last year’s output of 428.16 tons, Zhang said.
“China’s gold consumption this year will probably be sustained above 1,000 tons as long as the economy here will grow at 7 percent,” Albert Cheng, the World Gold Council’s managing director for the Far East, said last month from Hong Kong. Cheng pointed to wealth accumulation among China’s growing middle class.
China’s economy will probably expand 7.5 percent this year, the slowest since 1990, according to a Bloomberg survey of economists.
On March 7, gold futures for April delivery dropped 1 percent to settle at $1,338.20 an ounce on the Comex in New York. The price fell 28 percent in New York last year after some investors lost faith in the precious metal as a store of value amid a rally in equities and low inflation.
“Gold has found a floor,” Zhang said. “Companies will start lowering production if prices fall further as the cost of production at many companies is around $1,100-$1,200.”
Ukraine is a sovereign state which includes Crimea...PERIOD. Russia has NO RIGHT to take over Crimea...PERIOD.
Are you kidding me? Ukraine is a sovereign state, Crimea is part of Ukraine. Putin just walked in and took it. That's like Japan deciding it will just take over Hawaii to protect interest of Japanese-speaking Hawaiians, Obama and civilized world cannot allow this to happen plain and simple. As for Crimea vote, the Crimea parliament should not have to power to initiate such a vote; it is clearly driven by Putin.
I hate to say it, but Putin is making a fool out of Obama. First in Syria, now in Ukraine. How can we let Russia take over a piece of a sovereign state?
time to buy gold and silver
BREAKING: Crimea TV reporting that Russians have begun storming Ukraine air-force base on the peninsula, ramming the gates with a truck
time to buy gold and silver