Gold - Investment Demand Stampedes
By Julian D.W. Phillips
Jan 30 2009 1:16PM
On December 17th 2008 the combined gold holdings of the World Gold Council gold Exchange Traded Funds and Barclays Gold Trust stood at 985.59 tonnes. By the 16th January 2009 this had risen to 1009.92. By 30th January early in London time they had grown to 1079.83 a growth of almost 70 tonnes in two weeks. To give one perspective, the Central Bank Gold Agreement signatories [European central banks only] sold only 3.5 tonnes in the last two weeks. There are many other gold bullion-holding funds in the developed world from Canada to Switzerland that are not included in this total. If they were the total would be approaching 1200+ tonnes. Clearly we are seeing a stampede of institutional fund management into gold at present!
The present global economic climate, fraught with uncertainty, fear and currently a savage gauntlet for fund managers is making gold a desirable alternative and counter to such investments. Fund manager after fund manager is weighing the wisdom of holding gold in portfolios as a result. Consequently as the 2009 prospects for the global economy point to deflation of frightening proportions followed likely by explosive inflation as the Tsunami of newly printed money from all parts of the globe hits it, gold has moved to center stage as an investment of note.
It is likely then that these investment vehicles will be at the vanguard of fund management in gold in the years to come.
Originally posted by LiquidMirage
Originally posted by questioningall
Though one thing that will keep anyone safe; Seriously purchase gold an silver!
It's been said over and over, but if you have ignored it before..... I advise you doing some research, and STOP ignoring the advice..... Buy metals!
Where and how do you purchase gold and silver. I asked at my local bank but nobody knew. I know you can buy it online but I don't trust that.
Originally posted by traderjack
Now, if you'll excuse me, I will be boarding a seaplane for a small unihabited island in the South Pacific...
Originally posted by MikeboydUS
[I purchase online from www.APMEX.com and www.nwtmint.com and have used them since 2007. They both take debit/credit cards. I found some local dealers, but APMEX generally has the lowest spot price, even lower than Kitco.
One word of advice, the first $10,000 should be silver. Once accumulated then move on to gold.
To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.
Originally posted by disgustedbyhumanity
Gold forecasts, market forecasts,etc. are just forecasts. This China dropping the dollar stuff is just nothing but rumors.
Already up up 15% on the GLD Jan 90 puts I bought when gold traded at its day high.
You all know about P.T. Barnum I suppose.
Originally posted by korath
I would go for things you can barter with instead of gold and silver, If it came down to the worst case scenario I'd rather have a basement full of can goods, non power hand tools, tarps, nails, wood stoves,tents, sleeping bags and the like. If the SHTF you could find yourself trading more in gold than what it would have cost you to buy the item in the first place, Even if you just have a closet for storage, for the price of an ounce of gold you could set yourself up with some pretty good camping supplies and extra food. If China wants to mess around with the economy, we stop importing their junk and they got millions of unemployed standing around. I guess they could go back to farming, too bad most of their water ways are so polluted from industry it's unfit to drink, (not sure how that would affect the crops.)
Originally posted by questioningall
reply to post by LoneGunMan
The U.S. has become dependant on other countries, do you realize that most of our food is now imported in? The reason? Because it has been a big tax advantage for U.S. companies to have food processed in China and elsewhere. We even ship over the chickens we raise and kill here, to be processed over in China.