Archive for April, 2010
I’m a little shock that S&P would consider Greece’s debt as junk bonds. Ever since th Athen Olympics, they have just been in a free fall of economic woe’s. Surprisingly everyone was buying gold yesterday, and also surprising is the fact that Goldman Sach’s stock went up as well. What the hell is this world coming to?
With all the crazy stuff thats been going on, with all the earthquakes, tornadoes, market shares, Goldman, I just feel like nothing is worth it today to talk about gold or the market. Everything has been pretty busy lately (i’m getting more and more visitors each day!). Gold is down, but every other precious metals is up. It’s just one of those days I guess
Gold has been on a downfall these past couple of days, yet today we see a surge in price. It’s no where near the 1160 we saw two weeks ago, but it’s getting there. However, what caused the increase in price? World growth in currency compared to the US dollar has caused many spikes in gold prices. Specially India, Korea, Japan, Middle East and China. Considering our national debt is not necessary decreasing, and that Goldman Sachs is now going to be under legal threat. We need people to tax to get money people. That gold bar underneath my bed looks better and better as the day passes on
Gold, Silver, Platinum all started the day off regaining most of the loss it incurred yesterday. What constitutes the increase? Mainly Fresnillo, the largest silver miner in Mexico stated that production is up and thus increased the value of all commodities. However, I fail to see how that would increase the value of all the commodities since that there is no more silver flooding the market, prices should technically fall (due to simple supply and demand rules).
Gold is usually a good marker at how much your currency is worth, if the price of any commodity goes up, the value of your dollar is usually considered weaker. What does that say about our dollar?
With the prices of every precious metal increasing, I have found it hard to find time to update this blog. We have been busy because people have been wanting to sell there gold to us. Apparently, the new things is silver (big surprise there), but people have been wanting to buy bars and coins. Silver has always been a hard player in trading, its just that since its low value, people didn’t really care. The profit ratios are there, and the ROI is fantastic, but again, its low value is not a best contender.
It’s raining, the subways are just HORRENDOUS today and the only thing good that came out of this morning is that every precious metals increased throughout this week. Gold has reached its highest in 3 months, trading close to 1158. All the other precious metals have been in a rally to reach its record high as well. Time to sell the materials and make a tidy profit, though I definitely believe that gold will reach 1200. Buyers should also be weary about how much they buy for the fact that prices are still going up.
Lately, times have been tough, I don’t think we need to dwell on this fact of life, but NYC is regressing back to its dangerous streets. It’s mostly been petty stuff, but still theres a lot of issues going on with the city. The Diamond District is no different. Robberies, increased security, people making shady deals is all part of the game I guess. People have been coming through quite a bit to sell their jewelry and such. Gold buying has increased 10 folds. Silver buying has sky rocketed to god knows what. I have been following the market and gold, silver, platinum, and even palladium are reaching their record highs.
One phrase, the US Dollar is fucked
It’s a beautiful day in the neighborhood and the prices of all precious metals have been rising. Gold buying has been crazy last week (even with the holiday week). I’m guessing people need more money because of Tax Season. One thing I am noticing is that people are buying silver quite a bit. Instead of selling their silver, most people are now buying it. Silver’s growth percentage has been consistently increasing so it’s no wonder people are buying. Oh yeah, and the TV commercials. Why the sudden peak in silver? People have been hit hard with a recession, gold has become a luxury item (even though I can never say it was never a luxury item) and has become way to expensive to trade. The percentages has always been in Silver. It’s cheap, widely used, and it is considered a precious metal. The more people buy it, the more valuable it becomes.
Still, I’m just happy that all the prices are going up considering these past few weeks have been wonky. But as predicted in my precious posts, the market correction begins now