Tuesday, December 29, 2009, 10:49PM ET - U.S. Markets Closed.
Gold prices rose Tuesday ahead of the Fed's meeting and are likely to continue pushing higher after the central bank's extraordinary decision to set a range for the fed funds rate of 0% to 0.25%.
Now is a great time for investors to do some "bargain hunting" in gold, says Leanne Baker, managing director of Investor Resources LLC and a former all-star mining analyst at Salmon Brothers.
Gold has held up relatively better than other assets, notably stocks, this year and has been on the upswing recently. But the metal did slide more than 25% after topping $1000 per ounce early this year, which surprised a lot of investors given the extraordinary turmoil on Wall Street and dramatic expansion of the Federal deficit.
Baker, who sits on the board of several gold mining firms, say the slide was a result of deleveraging by hedge funds facing redemptions and steep losses in other assets. "It's just a matter of time before the deleveraging process is completed [and] we'll see how quickly things can turn."
Physical demand for gold remains strong — as evinced by the U.S. Mint unable to keep up with demand — which Baker says is evidence of investors searching for a "state-less currency" as the Fed, and other global central banks, risk debasing currencies like the dollar and euro as they pull out all stops to fight the credit crunch.
Oil is better than Gold. 1) it's cheap right now and 2) they consume it
Fed rate to 0. Now what? Just power up the printing press? Yeah, that should work. NOT!
Saver's rejoice we really have screwed the pooch.
Saver's rejoice we really have screwed the pooch.
Gold? There's another bubble for you. Everyone should be in the Japanese Yen. No bubble there.
Buy gold!!! Yes. But buy silver too. And buy guns. When the SHTF you're going to need an ample supply of the 1 oz. silver rounds or bars to acquire goods. You'll need at least a shotgun, rifle, and handgun to protect your family and property. Fiat currency is on its way out. If you know what's good for you you'll get out of the stock market and use the proceeds to buy up gold and silver. Don't get emotional about cutting your paper losses now. Just do it. It's only going to get worse. Never listen to these media shills telling you to wait it out, the market will return. They are employed by the same corporations that got us into this mess. And their jobs depend on getting you to believe their lies so you'll keep paying into the system. Become self reliant and stop relying on the corporate world to tell you what you should be in life. Protect your family and yourself. Good luck.
This is a dog and pony show. How anyone can feel good about this is beyond comprehension.
A Gold holding is always a good idea in these troubled times
Buy gold!!! Yes. But buy silver too. And buy guns. When the SHTF you're going to need an ample supply of the 1 oz. silver rounds or bars to acquire goods. You'll need at least a shotgun, rifle, and handgun to protect your family and property. Fiat currency is on its way out. If you know what's good for you you'll get out of the stock market and use the proceeds to buy up gold and silver. Don't get emotional about cutting your paper losses now. Just do it. It's only going to get worse. Never listen to these media shills telling you to wait it out, the market will return. They are employed by the same corporations that got us into this mess. And their jobs depend on getting you to believe their lies so you'll keep paying into the system. Become self reliant and stop relying on the corporate world to tell you what you should be in life. Protect your family and yourself. Good luck.
Buy gold!!! Yes. But buy silver too. And buy guns. When the SHTF you're going to need an ample supply of the 1 oz. silver rounds or bars to acquire goods. You'll need at least a shotgun, rifle, and handgun to protect your family and property. Fiat currency is on its way out. If you know what's good for you you'll get out of the stock market and use the proceeds to buy up gold and silver. Don't get emotional about cutting your paper losses now. Just do it. It's only going to get worse. Never listen to these media shills telling you to wait it out, the market will return. They are employed by the same corporations that got us into this mess. And their jobs depend on getting you to believe their lies so you'll keep paying into the system. Become self reliant and stop relying on the corporate world to tell you what you should be in life. Protect your family and yourself. Good luck.
If you like gold, buy physical gold. Paper gold is not gold.
Gold is another bubble, but where are we on that bubble? I really don't know, but if they are telling you buy, they will be selling.
JOHN ROBINSON you are so RIGHT but sadly emotion and complacency factors into human nature and its predictable response. Most Morons won't act on this late cry of corruption revealed and will try and ride the storm its going to be a painful long wait. buy gold and silver as well as oil trusts they at least pay dividends and oil aint disapperaring in our lifetime!!!
SILVER SILVER SILVER. It is at historic lows now, and is poised to skyrocket. This is a once-in-a-lifetime to get silver at these bargain prices. Mark my words!
Paulson said we should all be grateful for the FED bailing out all the rich of irresponsibility and stealing taxpayers dollars to keep rigged and corrupt stock market up. Go to hell paulson, FED, AND congress for stealing my tax dollars to support the corrupt and criminal wall street market. A real travesty is the soldier dyeing for this rigged system for the rich and powerful,not having to lose more of their GAMBLED money.Wall street and AMERICA was suppose tobe freedom for the poor to become rich and the rich to become poor. NO way, RIGGED!
Do not panic! Gold was a good buy back in 2001, but now is the heard mentality. Make your own options. Be ware of alarmists.SAVE CASH! Best regards to all.
Flight D...Thanks for the plug. I like your idea of Oil trusts. I'm going to look into it. Enjoy the holiday my friend.
Charles T, is right. The people are ALWAYS behind the market. That's because the people are asleep, don't really study the issues and are uneducated. "They" want it that way. We're a nation of mushrooms. They keep us in the dark and feed us a lot of manure. So, if "they" tell you to buy, sell! If "they" tell you to sell, buy! You cannot believe how many phone calls I got when gold was at a $900.00 and oz and silver was at $25.00 an oz. I bought a stock in a good company that had been hammered and trippled my money in less than a week. I also paid the mortgage off on a rental unit, sold stocks high before the crash, and now the rent is pure gravy.
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__A_YAHOO_USER__ - Tuesday December 16, 2008 03:37PM EST
God for business..............It will never happen again......grab the opportunity. Pay your debts quick...........Pay your mortgages quick.....grab the oppotunity.........Make it business as usual............re-arrange your re-payment with very low interest nearly zero.........