As Hurricane Gustav fizzled, commodities prices have plunged… if gold, crude oil, and copper are moving with the weather forecast, it’s time to head for the relative safe haven of stocks!
by J. Christoph Amberger
Baltimore — (TFN): “For now, based on our analysis, gold’s bull market remains in force,” wrote the Aden Sisters on August 27: [...]
We may shortly be at the beginning of Jimmy Carter’s second presidency. After “windfall taxes” have made a populist return, will we see 14% inflation and record gold prices again?
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Speculative commodities like oil and gold are selling off at alarming speed as funds liquidate losing positions and buyers retreat to wait for a bottom. There are some tell-tale signs that the bubble has popped. Amberger tells you what to look out for…
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In a world of doomsday prophets, seek rational advice before you buy speculative assets such as gold.
by J. Christoph Amberger
Baltimore — (TFN): The problem with most financial editors promising unlimited upside for gold is that they hardly have an unbiased perspective: The financial newsletter industry as we know it today has its roots in the [...]
Plunging gold and oil prices mean one thing: Welcome to the commodities bear market of 2008!
by J. Christoph Amberger
Baltimore — (TFN): The day was off to a good start: Crude oil fell as much as 2 percent to $112.75 a barrel. Platinum plummeted $125 to $1,365 an ounce, its gravest intraday loss since Sept. 25, [...]
Two days ago, we predicted gold would drop below $800. It did, in early Asian trading…
by J. Christoph Amberger
Baltimore — (TFN): Gold futures may have closed Thursday’s trading with a loss of just $17 an ounce to close at $814.50. But in early Asian trading, gold for immediate delivery continued to plunge by as much [...]
Were you surprised by the commodities downturn? You shouldn’t have been. We told you it would happen three months ago.
by J. Christoph Amberger
Baltimore — (TFN): Call me shallow. Egocentric. Auto-appreciative. Desperate for attention?
Heck, call me Ishmael, for all I care. But may I point out that the “surprise” downturn in oil, gold, euro and other [...]
The gold bubble is continuing to deflate, right alongside the oil and euro bubble. Just how far? Jon Nadler provides perspective.
by Jon Nadler, Kitco.com
Baltimore — (TFN): Showing no signs that it has found a near-term bottom, gold continued to lose ground in overnight trading and erased its year-to-date gains, plunging to $801.90 per ounce and [...]
Commodities have fallen dramatically. Yet each price chart indicates that there’s plenty of value still to be shed just to erase the gains of 2008!
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Demand and excitement surrounding the Beijing Series II 6-piece Gold and Silver commemorative Proof Set has reached a “fevered pitch”—not just in China, where all three six-coin gold and silver series have already sold out—but worldwide.
by J. Christoph Amberger
Baltimore — (TFN): The Beijing Olympic Games will kick off this Friday, August 8. The Chinese did [...]
Gold is behaving just like the speculative commodity it is. Just like oil — whose realistic and immediate upside is $150, $200, $500, depending on who you ask and which plummeted $30 in the last two weeks — gold is hitting the skids right now: Today, gold for December delivery fell to $895.50, down $12.40.
by [...]
Baltimore — (TFN): Ouch! Gold futures on Tuesday extended stiff losses into a second day, falling 3% and coming under heavy selling pressure as the U.S. dollar surged against other major currencies.
Gold for August delivery dropped $26.90 to end at $871.20 an ounce on the New York Mercantile Exchange.
“I think the issue with gold is [...]
The world was supposed to be out of oil by 1952, natural gas was to have run out by 1984, gold by 1981. And what happened to the ozone shield and global cooling? Their lousy track record makes your local weatherman look like a genius. So why listen to scientist and resource forecasters at all?
By [...]
Baltimore — (TFN): Turn on the television or radio, and you could think that the United States is about to embark on a collective dandelion-leaf-and-sawdust diet. But a look at the price charts for key commodities indicates that spot prices for wheat and corn are either leveling out or dropping.
The Prices of Key Commodities in [...]
by J. Christoph Amberger
Baltimore — (TFN): “Futures Traders Bet on Dollar Gain For First Time Since 2005,” headlines Bloomberg.com today.
Net shorts on a decline in the euro came in at 21,315 on April 29 — compared with net longs of 18,907 a week earlier, according to the Commodity Futures Trading Commission (CFTC). Currency strategists now [...]
by J. Christoph Amberger, President TFN
Baltimore — (TFN): Another terrible week in the stock markets has come to an ignominious end. The U.S. economy may not be quite as damaged as the media reports imply, but even I find it difficult to see a silver lining in the data, the remaining presidential candidates — [...]