Gold above the USD 1,500 an ounce mark for the first time in history . James Steel chief commodity analyst at HSBC gives his insight
James Steel believes that it is pretty much on the investment side where the demand is booming : It’s very much on the investment side. When I first started looking at the gold market, the bulk of consumption was in the jewellery market. So it went physically towards someone owning gold for adoration around the neck or finger etc. The theme in the last several years, particularly, since the crisis began to hit what started out as a subprime mortgage crisis in the middle of 2007, the shift has been very much towards investment and less towards jewellery.The percentages of gold consumption for jewellery have dropped while investment has risen. That’s because the price has risen and that has pushed some people out of the jewellery market followed by the fact that a decline in luxury goods, consumption when you get an economic crisis followed by the increased portfolio diversification demand for gold. We definitely have seen a shift in the buying pattern for gold.
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Wednesday, April 20, 2011
Jim Rogers we will see Triple digits Silver this year
Jim Rogers : ...the thing that caught people's attention is that gold was going up so much that's the wrong way to invest , Look I own gold I own silver but where were these guys five years ago ten years ago that's when they should have ben doing all of this (buying huge amounts of silver) unfortunately for all of us most investors do not notice something until there is nice bull market in place such as with gold and silver , after ten years of price rises in gold people are starting to notice ...and yes there will be more people buying gold eventually everybody is going to own gold and then we will have to sell our gold but that's a long way from now ....
If silver continues a parabolic move I have to worry , all parabolic bubbles pops at the end , unless there is a currency crash , if silver goes up to $150 without a currency collapse I would worry says Jim Rogers . All bubbles have poped'. Yes true, however I disagree with Jim Rogers on calling this a bubble , this is not a bubble, even with silver at 250$. What is the alternative to the dollar? Gold and Silver, there is nothing else. It's the dollar bubble that is poping, not silver exploding.Silver is MONEY not a commodity , when you buy silver you preserve your wealth , your wealth in form of silver did not change it is the dollar that is dropping like a rock day after day...
There is less than one once of silver per Chinese, and much less silver than gold. Silver can only go to the moon..please continue hoarding Silver ....
by 2019 Silver will be very rare if current mining is anything to go by then you'll be looking at astronomical levels of many thousands of dollars. Remember Palladium hit $10,000 an oz when that went through a rarity period. Silver is needed more than ever in industry but more importantly the new technologys and energy industry coming forth like Solar. Study Desertec and what they have planned for the Sahara when Gaddafi is bugged off thanks to KING JUAN CARLOS.
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) , Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
If silver continues a parabolic move I have to worry , all parabolic bubbles pops at the end , unless there is a currency crash , if silver goes up to $150 without a currency collapse I would worry says Jim Rogers . All bubbles have poped'. Yes true, however I disagree with Jim Rogers on calling this a bubble , this is not a bubble, even with silver at 250$. What is the alternative to the dollar? Gold and Silver, there is nothing else. It's the dollar bubble that is poping, not silver exploding.Silver is MONEY not a commodity , when you buy silver you preserve your wealth , your wealth in form of silver did not change it is the dollar that is dropping like a rock day after day...
There is less than one once of silver per Chinese, and much less silver than gold. Silver can only go to the moon..please continue hoarding Silver ....
by 2019 Silver will be very rare if current mining is anything to go by then you'll be looking at astronomical levels of many thousands of dollars. Remember Palladium hit $10,000 an oz when that went through a rarity period. Silver is needed more than ever in industry but more importantly the new technologys and energy industry coming forth like Solar. Study Desertec and what they have planned for the Sahara when Gaddafi is bugged off thanks to KING JUAN CARLOS.
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) , Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Silver Investment Demand Exploding in China
The Guangzhou Daily reported that a man went into a local bullion dealer in Guangzhou and bought 10 million RMB worth of physical silver. This amount converts to roughly $1.5 million USD. This Chinese investor and his assistants brought in eight suitcases full of cash to complete the transaction. I wanted to point out about physical silver is - market price - paper silver has a price determined by the banks, where as real silver has a price determined by the market. With physical silver you can refuse to sell for a particular price and try to find a different buyer whereas with bank silver there is a fixed price and all buyers are considered to be the same. They "make" the market.
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD)
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD)
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