Gold-Kommentar

verfasst von BossCube, 24.05.2001, 08:46

Dear Outstanding Investments Reader,

"You're not going to have gold to kick around anymore."

Gold has had more comebacks than Richard Nixon. The
question is, will bullion ever sustain a real rally or is
it as antiquated as your grandmother's Victrola?

Who knows? But what I do know is that if gold takes off --
and I put the chances of that at around 50-50 -- then there
is going to be some serious fortunes made for a very select
group of investors. It's a chance worth taking because if
the Midas metal ever gets going, the performance of gold
stocks will rival anything the dot-coms did in the '90s.

Certainly the past few days have been a step in the right
direction.

On Monday, sellers were rushing to cover their shorts,
pushing the yellow metal to its highest levels in 11
months. Profit taking soon took over, and before the day
was done gold was down $2 from its Friday close. Still,
the positives are undeniable.

"The Commodities Futures Trading Commission data as of last
Tuesday's close showed very, very aggressive short covering
by commodity funds," said Chris Foster, a futures
specialist with Scotia McLeod."They erased most of their
short positions."

Foster, a regular reader and wellspring of ideas to yours
truly, believes that gold has smashed through some key
technical levels, including the 200-day moving average.

"With lower interest rates and higher lease rates on gold,
it's not so attractive for miners to sell forward," says
Foster."You used to be able to sell gold at a 5% premium
in the future; now you're only getting a couple of percent
forward."

Gold producers typically borrow future production from
central banks, then sell that metal into the cash market.
Producers pay a lease rate to the central banks, usually
around 1%. They then put the money from the gold sale into
the bank and earn interest on it.

On Friday, gold moved up $14 an ounce to an 11-month high
of $287.80. On Monday it hit $298.50 before falling back.
That is the kind of action to make one think the price
fundamentals have changed.

John Liau, senior vice-president of the treasury division
at Singapore's Overseas Union Bank, thinks the rally can be
sustained.

"This time around, the rally's on a different foundation.
It's more fundamental in nature rather than people getting
together to prop up the market."

The Fed Is Bullion's Best Friend

A well-founded notion is that the Fed hates gold. And they
do. But they hate one thing even more -- recession. In
the past the Fed has had to make a pact with the devil --
easy money (the engine that drives gold prices) in exchange
for another economic resurrection.

The five interest rate cuts over the past six months is the
same piggish action the Fed took in the mid-970s and
mid-1980s. During those periods gold rose 400% and 80%
respectively, pushing many gold stocks to gains of 400%,
600% and even 1,000%.

But no need to rush in. After the Fed's Freddy Krueger
cuts were finally finished, it took another couple of years
for bullion prices to hit their highs. However, now is a
good time to lay out a strategy, and that is exactly what
I'm going to do in the July issue of Outstanding
Investments. Don't miss it. I've found what I believe is
the very best North American gold stock you can own.


Until then...

Go Gold,
John Myers

Soweit, so gut. Wie man so schön sagt, haben wir jetzt echt die"einmal-im-Leben-Chance" vor uns. Jürgens Katastrophenszenario ist auch ins Wanken geraten, die Hoffnung wächst... Sein aktueller XAU Kommentar ist zwar wieder negativ, doch wozu dieses ständige Rumgezocke? Wegen paar lausiger Punkte runter im XAU laufend Minen rein, Minen raus? Nö! Denkt mal bitte auch an die immer wieder neu beginnede Spekulationsfrist. Da sind mir doch einige Cents nach unten völlig schnuppe. Sorry, aber ich werde meine Minen komplett behalten, auch wenn es kurzfristig etwas fallen sollte. Das Risiko besteht darin, nach dem Verkauf nicht wieder rechtzeitig reinzukommen, und nicht darin, jetzt wegen paar Märkern zu zocken.

Ahoi!

J.

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gesamter Thread:

• Gold-Kommentar - BossCube, 24.05.2001, 08:46
  • Re: - R1, 24.05.2001, 09:37
  • Re: Gold-Kommentar - JüKü, 24.05.2001, 10:57
  • Zeitungsartikel"Fury over the great gold sale" - Diogenes, 24.05.2001, 13:31
    • Re: @Diogenes - JüKü, 24.05.2001, 13:44
      • Re: @Diogenes - Diogenes, 24.05.2001, 18:15