Gold

Jordan: Gold drop spurs demand as wedding season kicks off

July 29, 2015 at 11:13

truthing

With the drop in gold prices globally and locally, many Jordanian families and tourists have been heading to the market in Amman to buy or stock up on gold, fearing that prices might increase in the future. Jordan Jewellers Association (JJA) President Osama Imseeh said the main reason behind the drop in prices is because the US economy and dollar have recovered.  “The decrease reflected positively on the market this year. During the past five days, when gold prices dropped by $50 to $60, demand jumped because of investment and marriage as we are in the wedding season, and after Ramadan and the Eid Al Fitr holiday the season thrives,” he told The Jordan Times at his stor...

Einhorn & Paulson hold firm on Gold

July 29, 2015 at 10:59

truthing

Most fund managers have finally thrown in the towel on gold — but not hedgie titans John Paulson and David Einhorn. Money managers are “net short” gold for the first time since 2006, according to a weekly Bank of America Merrill Lynch report released Monday. That means most hedgies and mutual fund managers are bearish on the yellow metal, which has been tanking in recent weeks on dollar strength — and is down more than 7 percent this year. But Paulson and Einhorn are two of the big names staying the course — and paying a steep price for it. Paulson, who is one of the top shareholders of South African mining company AngloGold Ashanti with a 6 percent stake, is ...

Time to look at Gold miners

July 28, 2015 at 11:45

truthing

Gold mining stocks haven't been immune to the recent selloff in commodities, with the Market Vectors Gold Miners ETF down almost 25 percent in the past month. However, one expert thinks there could be a buying opportunity in the near future. "For the next month you have a decent probability of a bounce, especially with the Fed meeting because that's the type of action we've seen after and during Fed meetings with the gold miners," Larry McDonald, head of U.S. macro strategy at Societe Generale, said Monday in an interview. In fact, the gold miners have rallied the last four or five times the Fed has made a statement because when the U.S. central bank is dovish, it's...

US family make million dollar Gold find off Florida

July 28, 2015 at 11:38

truthing

A Florida family has been rewarded for years of treasure hunting after finding gold artefacts worth $1m or more from the wreckage of a 1715 Spanish fleet that sank in the Atlantic, according to a salvage company. The find included 51 gold coins of various denominations and 40ft (12m) of ornate gold chain, said Brent Brisben, whose company, 1715 Fleet – Queens Jewels LLC, owns the rights to the wreckage. The Schmitt family, who hunt for treasure off their salvage vessel Aarrr Booty, could not immediately be reached for comment. Brisben said he timed the announcement to coincide with Friday’s 300th anniversary of the sinking of 11 galleons brought down by a hurrica...

Silver will decline to $13 levels: Nic Brown

July 27, 2015 at 11:10

truthing

Silver prices have fallen faster than gold prices in the last one year. Nic Brown, head of commodities research, Natixis, in an email interview discusses the outlook for silver prices. Do you see silver prices falling further? Similar to gold, we expect silver prices to decline further over the coming year. Our forecasts for silver prices anticipate a steady decline to a low of around $13/oz by the end of 2016. How much can it go down?  In a worst case scenario, which, frankly, describes most of the metal markets at the minute, prices may have to fall to the point at which supply becomes constrained. Mining companies have already curbed investment in new output,...

$750 fair value for Gold according to Deutsche Bank

July 27, 2015 at 11:01

truthing

Gold prices may need to fall another 30 per cent to reach fair value, according to Deutsche Bank, with cheap oil the only potential lifeline for the battered precious metal. But Deutsche's paper Estimating fair value for gold argues the price of the precious metal needs to drop substantially to bring valuation levels back towards historical averages. "Gold would need to fall towards $US750 per ounce to bring prices in real terms back towards long-run historical averages," said Deutsche. Deutsche ran the gold price through  several models to determine "fair value" for the precious metal. The Deutsche "gold price model", which factors in world growth, ...

Silver Price: 110% Upside

July 24, 2015 at 10:51

truthing

Making an accurate silver price forecast is never easy. So to understand where silver prices are going next, let’s go back to where silver has been and why it was there. As the Great Recession hit the U.S. economy in 2008, the U.S. Federal Reserve adopted extraordinary measures—printing money to buy assets. The scale and length of the quantitative easing program was never seen before. After the Fed spent trillions of dollars to buy assets, the U.S. ended up with a bloated asset market: both the stock market and the bond market soared to all-time highs. The return in the stock market has been astronomical; since March 2009, the S&P 500 has climbed more than 200%!...