CNBC discusses the rally in spot gold prices - its longest winning streak in four decades.Gold this morning hit an all time high by breaking the psychological barrier of $1600/oz , while Silver is back over the $40/oz barrier all this despite the summer being a sluggish month for Gold we are not in the heat of the Indian wedding season and we have passed the valentine day time , so how high Gold will go ??? according to many experts the Gold prices will explode this summer to stratospheric levels , so hold on to your physical gold and silver the show is about to begin ...LOL...
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)
Monday, July 18, 2011
Jim Cramer never late to get into GOLD
Mad Money host Jim Cramer says it's not too late for investors to get in on the precious metal especially Gold ...Jim Cramer "the average portfolio has 1% to 1.5%. do you come into gold here? i have heard over and over again. here is the problem with gold. people missed the move. it's clearly untrue. given the uncertainty in the euro and the dollar i don't think it's too late"
Gold at $1600/oz Silver at $40/oz and climbing
Update on Gold soaring this morning to all-time highs Gold at $1600/oz Silver at $40/oz and climbing
Sharon Epperson :"....the spread continues to blow out. the spread is what a lot of traders with watching now. that's a reason why we are looking at it. here on the floor, all the action has been in the gold market. you have been talking about $1600 gold. also the fact that we have seen hedge funds adding position. there is a surge in the long positions. a big reason why we are looking at the higher price as well. not only in dollar terms. it's important to realize Bernanke said he didn't believe gold is money. when you look at gold in euros, the pound, the yen, we are at new highs here. people around the world are using gold as alternate currency and silver as well. the highest we have seen since the beginning of may. over $40. the percentage gain higher than what we are seeing in gold. this is the currency folks are focused on. "
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)
Sharon Epperson :"....the spread continues to blow out. the spread is what a lot of traders with watching now. that's a reason why we are looking at it. here on the floor, all the action has been in the gold market. you have been talking about $1600 gold. also the fact that we have seen hedge funds adding position. there is a surge in the long positions. a big reason why we are looking at the higher price as well. not only in dollar terms. it's important to realize Bernanke said he didn't believe gold is money. when you look at gold in euros, the pound, the yen, we are at new highs here. people around the world are using gold as alternate currency and silver as well. the highest we have seen since the beginning of may. over $40. the percentage gain higher than what we are seeing in gold. this is the currency folks are focused on. "
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)
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