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No fireworks in precious metals markets
Friday, November 28, 2008
Depending upon which closing price you look at, gold either ended the Thanksgiving holiday flat or up a percent or so - not what many were expecting, but not bad.
According to Jon Nadler at Kitco, most of the holders of December futures contracts who did show up at work today rolled them over to the February contract. I'll be on a panel with Jon on Monday morning at the San Francisco Hard Assets Investment Conference, so I'll be sure to ask him for more thoughts on the subject.
I think I already know what he's going to say...
As it was though, November looks like it was a much better month than September or October for all kinds of investments.
Marketwatch reports that gold turned in its best monthly performance since 1999, rising 3.1 percent for the week and 14 percent for the month. It's still down about two percent for the year, but that's pretty good against most things in 2008.
6 comments:
Yeah ask Nadler, so you can hear him tell you about how real gold is a barbarous relic; the cool kids all buy paper gold (at one of the many bank paper gold programmes he helped to set up before becoming a "precious metals analyst")
Bailout 2008, a poem by David Jeffrey
Like a bloodied warrior,
laying broken and torn.
Like a dying soldier, hopeless and forlorn.
But the blood, it be green,
the color of money.
And the soldier is an economy,
and it is anything but funny.
Broken are it's people and shattered are their dreams.
Thanks to the ultra rich and their full proof schemes.
It is a tragedy with more pain to come.
Finance will be Hell, and their wills will be done.
So where's the big COMEX default that all those Kitco guys have been predicting?
Buy the Goldcorp: buy the Goldcorp
you will be greatful for that advice
Buy the Goldcorp
;make the money
Hi, this is a very nice site. I am from germany and I like all of fireworks. I am a professional too, look at my site Feuerwerk. Greetings from Berlin, Daniel
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