• 677 days Will The ECB Continue To Hike Rates?
  • 677 days Forbes: Aramco Remains Largest Company In The Middle East
  • 679 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,079 days Could Crypto Overtake Traditional Investment?
  • 1,084 days Americans Still Quitting Jobs At Record Pace
  • 1,086 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,089 days Is The Dollar Too Strong?
  • 1,089 days Big Tech Disappoints Investors on Earnings Calls
  • 1,090 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,092 days China Is Quietly Trying To Distance Itself From Russia
  • 1,092 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,096 days Crypto Investors Won Big In 2021
  • 1,096 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,097 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,099 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,100 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,103 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,104 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,104 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,106 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

  1. Home
  2. Markets
  3. Other

Gold Prices to Challenge All Time High

Gold

So much for a lackluster summer and the summer doldrums as gold prices increase by around $100/oz in August 2010, to close at $1251.20/oz. As the chart shows August has been a great month for gold prices setting the stage for a 'Fall' rally which we expect to be dramatically to the upside. The technical indicators are now in the overbought zone and we would normally expect gold to take a breather, however, these indicators have been known to stay high for prolonged periods of time.

By now you should have analyzed your portfolio and weeded out some of the laggards and acquired a few more of your favourite stocks or indeed added some new faces in preparation for the next up leg. Oh yes, it is coming and its coming fast so ignore your day job for an hour or two and and do some thinking that will set you up until at least New Years Eve.

Next week sees the celebrations of Labour Day, 6th September, in the United States and the return to their desks of the bigger players. Sipping pink champagne on the back of a yacht in the Caribbean eventually loses its appeal, so they tell me!

Now, heres a graphical representation of just where gold resides kindly sent to us by money choices which may be of interest to you.

Map of World Gold Reserves

Followed by a map of the worlds gold producers which is also neat.

Map of World Gold Producers

Keep an eye on silver prices as they are also on the move and will present us with a few opportunities to make a a buck or two, either through positioning ourselves in those stocks that are very responsive to any movement in silver prices or via a well thought out trade in the options sector. As you know on Friday, 27th August 2010, we closed another successful trade banking a profit of 79.46% on Call Options on Silver Wheaton. We are overweight on Silver Wheaton and today we were pleased to see it add 2.84% on the back of rising silver prices. Keep making comparisons between various stocks and option trades to ensure that you are getting the best bang for your buck. Percentage gains is the name of the game so focus on them and don't fall in love with a stock, its just a vehicle to protect yourself in these times of madness and return to you a profit. That's its job so expect it to perform. If it doesn't, then find the courage to wield the axe.

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.

 


The latest trade from our options team was slightly more sophisticated in that we shorted a PUT as follows:

On Friday 7th May our premium options trading service OPTIONTRADER opened a speculative short term trade on GLD Puts, signalling to short sell the $105 May-10 Puts series at $0.09. On Tuesday the 11th May we bought back the puts for just $0.05, making a 44.44% profit in just 4 days, with more positions opened yesterday. Drop by and take a look.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

 

Back to homepage

Leave a comment

Leave a comment